An anonymous director reports

CPKC ANNOUNCES RESULTS OF DIRECTOR ELECTIONS

All resolutions placed in front of shareholders at Canadian Pacific Kansas City Ltd.'s 2023 annual meeting earlier today have been passed, including the election of all 13 nominees listed in the management proxy circular dated April 24, 2023, as directors of CPKC.

All directors received at least 93.82 per cent of votes cast. The advisory vote on executive compensation (say on pay) received 95.95-per-cent approval. The advisory vote on approach to climate change (say on climate) received 83.7-per-cent approval.

Isabelle Courville, upon her re-election as a director, has been reappointed chair of CPKC's board of directors.

The detailed results of the vote by ballot on the election of directors are provided in an attached table.

Final voting results on all matters voted on at the annual meeting will be filed on SEDAR.

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 of Mexico to Lazaro Cardenas, Mexico. Stretching approximately 20,000 route-miles and employing 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.