Canadian Pacific Railway Limited (NYSE:CP) Q3 2022 Earnings Conference Call October 26, 2022 4:30 PM ET Company Participants Chris de Bruyn – Managing Director-Investor Relations and Treasury Keith Creel – President and Chief Executive Officer John Brooks – Chief Marketing Officer and Executive Vice President Maeghan Albiston – Vice President Capital Markets Conference Call Participants Chris Wetherbee – Citi Fadi Chamoun – BMO Capital Markets Jon Chappell – Evercore ISI Walter Spracklin – RBC Capital Mark ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-01342 | --- | --- | |-----------------------------------------------------------------------------|------------------------- ...

Financial Performance & Growth - Total revenues increased from $6554 million in 2017 to $7995 million in 2021[7] - Cash provided by operating activities increased from $2182 million in 2017 to $3688 million in 2021[7] - CP invested a total of $500 million to acquire 5,900 new covered hoppers[36] Operational Efficiency & Capacity - CP's rail network spans 13,000 miles[11] - CP moves approximately 80% of potash produced in North America[67] - Predictive analytics have reduced online failures by 91%[42] - The investments in cars and origin and destination terminals enabled CP to move >40% more grain per train[36,62] Strategic Initiatives & Sustainability - CP's headquarters is powered by one of the largest private solar installations, generating up to five megawatts of electricity[46] - CP aims for a 38.3% reduction in locomotive GHG emissions intensity by 2030[45] - CP expects to generate $1 billion in annualized synergies within 3 years following completion of the KCS transaction[56] Market Position & Diversification - Bulk accounted for 40%, Merchandise 38%, and Intermodal 22% of the business mix in 2021[12] - Global accounted for 34%, Cross-Border 32%, and Domestic 34% of the geographic distribution in 2021[12] - CP has origin access to Canada's 11 potash mines[67]

Canadian Pacific Railway Ltd (NYSE:CP) Q2 2022 Earnings Conference Call July 28, 2022 8:30 AM ET Company Participants Maeghan Albiston - VP, Capital Markets Keith Creel - CEO, President & Director John Brooks - EVP & CMO Nadeem Velani - EVP & CFO Conference Call Participants Thomas Wadewitz - UBS Fadi Chamoun - BMO Capital Markets Walter Spracklin - RBC Capital Markets Kenneth Hoexter - Bank of America Merrill Lynch Brian Ossenbeck - JPMorgan Chase & Co. Brandon Oglenski - Barclays Bank Jonathan Chappell - ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-01342 | --- | --- | |-----------------------------------------------------------------------------|------------------------------ ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-01342 | --- | --- | |-----------------------------------------------------------------------------|----------------------------- ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark one) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES AND EXCHANGE ACT OF 1934 For fiscal year ended December 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-01342 | --- | --- | |----------------------------------------------------------------------------------|----------------------------- ...