CPKC Announces US$1.2Billion Debt Offering

Canadian Pacific Kansas City Limited (CPKC) announced that its wholly-owned subsidiary, Canadian Pacific Railway Company, is issuing US$600 Million of 4.000% Notes due 2029 and US$600 Million of 5.500% Notes due 2056, guaranteed by CPKC. The offering is expected to close on March 6, 2026, subject to customary closing conditions, with net proceeds used primarily for refinancing outstanding indebtedness and for general corporate purposes. The joint active bookrunners are Goldman Sachs & Co. LLC, Barclays Capital Inc., Citigroup Global Markets Inc., and SMBC Nikko Securities America, Inc., alongside a syndicate including BMO Capital Markets Corp., CIBC World Markets Corp., RBC Capital Markets, LLC, Scotia Capital (USA) Inc., and BofA Securities. Advisory Team: Bennett Jones LLP

Harinder S. Basra

Rebecca Burnand

Hayden Logan

Anu Nijhawan

Karen J. Dawson