Mr. Keith Creel reports

CPKC REACHES TENTATIVE COLLECTIVE AGREEMENT WITH BLET

Canadian Pacific Kansas City Ltd. has reached a new tentative five-year collective agreement with the Brotherhood of Locomotive Engineers and Trainmen.

The tentative agreement providing increased wages and more flexible work rules covers approximately 250 train and engine employees on the southern portion of the Dakota, Minnesota and Eastern property operating trains in Minnesota, Iowa, Illinois and Missouri.

"We are very pleased to have reached this latest tentative collective agreement benefiting more of our railroaders in the United States," said Keith Creel, CPKC president and chief executive officer. "Thank you to the BLET leadership for working with us to reach another agreement at the bargaining table as together we continue to safely and efficiently deliver for our customers across the Midwest and our entire North American network."

The tentative agreement is pending ratification by the union's membership.

About Canadian Pacific Kansas City Ltd.

With its global headquarters in Calgary, Alta., Canada, CPKC is the first and only single-line transnational railway linking Canada, the United States and Mexico, with unrivalled access to major ports from Vancouver to Atlantic Canada to the Gulf coast to Lazaro Cardenas, Mexico. Stretching approximately 20,000 route miles and employing approximately 20,000 railroaders, CPKC provides North American customers unparalleled rail service and network reach to key markets across the continent. CPKC is growing with its customers, offering a suite of freight transportation services, logistics solutions and supply chain expertise.