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(Source: Canadian Pacific Kansas City press release, May 16, 2023)

CALGARY — Canadian Pacific Kansas City (CPKC) today released selected combined historical financial information for the year ended Dec. 31, 2022 and the first quarter of 2023 reflecting CPKC results as if the merger between Canadian Pacific and Kansas City Southern had occurred as at Jan. 1, 2022.

This information has been furnished on a current report on Form 8-K with the United States Securities and Exchange Commission and applicable securities commissions and regulatory authorities in Canada (filed as an “Other” document on SEDAR). Additionally, CPKC released certain additional combined historical data related to operating metrics and historical revenue performance, available on CPKC’s investor website (investor.cpkcr.com). Beginning today, CPKC will report its weekly key metrics on a consolidated basis.

This information is presented on a voluntary basis for illustrative purposes only. It is not intended to, and does not purport to, represent what the combined company’s actual results would have been if the transaction had occurred on the relevant date, and it is not intended to project the future results or financial condition that the combined company may achieve following the merger.