An anonymous director reports

CPKC ANNOUNCES FILING OF PROXY CIRCULAR AND ANNUAL GENERAL MEETING

Canadian Pacific Kansas City Ltd. has filed its notice of meeting and management proxy circular for its 2023 annual meeting of shareholders with Canadian and U.S. securities regulators. A copy of the proxy material is available at the company's website.

The annual meeting of shareholders will be held virtually on June 15, 2023, at 9 a.m. MT.

Shareholders will not be able to attend the meeting in person; however, shareholders will be able to participate in the meeting, including voting on business properly brought before the meeting and submitting questions for consideration. Shareholders can vote by proxy in advance of the meeting as in prior years and on-line during the meeting.

Detailed instructions for shareholders to participate in the meeting and a copy of the virtual AGM user guide are available at the company's website. Canadian Pacific will also send this information directly to shareholders.

About Canadian Pacific Kansas City Ltd.

With its global headquarters in Calgary, Alta., Canada, Canadian Pacific 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 of Mexico to Lazaro Cardenas, Mexico. Stretching approximately 20,000 route miles and employing 20,000 railroaders, Canadian Pacific provides North American customers unparalleled rail service and network reach to key markets across the continent. Canadian Pacific is growing with its customers, offering a suite of freight transportation services, logistics solutions and supply chain expertise.