Mr. Keith Creel reports

CPKC AND AMERICOLD ESTABLISH STRATEGIC COLLABORATION TO OPTIMIZE TEMPERATURE-CONTROLLED LOGISTICS ACROSS NORTH AMERICA

Canadian Pacific Kansas City Ltd. and Americold Realty Trust Inc. have entered a strategic collaboration to co-locate Americold warehouse facilities on the Canadian Pacific network. Anchored by rail transportation service, the intent is to build the first facility in Kansas City, Mo., to bring together cold storage and value-added services with expedited intermodal transportation solutions connecting key U.S. Midwest and Mexico markets.

"CPKC is pleased to collaborate with Americold to provide innovative solutions for our customers throughout North America with this Kansas City facility, the first of many we intend to build in the years to come," said Keith Creel, Canadian Pacific president and chief executive officer. "CPKC's new Mexico Midwest Express (MMX) premium intermodal service, combined with one of the largest fleets of refrigerated containers in the industry, and now this collaboration, will further elevate this world-class service offering moving a range of food and other products to and from Mexico."

"At Americold, we are constantly looking for innovative ways to create value for our large global customers. This partnership with CPKC leverages the strengths of both companies and enables us to offer solutions together that we would not be able to offer separately," said George Chappelle, chief executive officer at Americold. "The combination of Americold's vast North American facilities network and world-class cold chain operating model with CPKC's new MMX intermodal service and refrigerated assets will produce a new and unique offering to the food supply chain."

Canadian Pacific connects North American markets with single-line, expedited intermodal freight transportation and a fleet of TempPro temperature-protected intermodal containers for reliable door-to-door transit competitive with over-the-road trucks.

A global leader in temperature-controlled logistics, Americold's cold chain ecosystem plays an integral role in the food supply chain connecting production, distribution and consumption for many of the largest food companies in the world.

Canadian Pacific and Americold are working collaboratively to streamline border crossing procedures and provide a more seamless experience for shippers.

Canadian Pacific recently announced the addition of 1,000 new 53-foot refrigerated intermodal containers to its network, more than doubling Canadian Pacific's existing fleet and bringing more shipping options to customers using the expanding Mexico Midwest Express premium intermodal service.

MMX is North America's first single-line rail service offering for refrigerated shippers from the Midwest to Mexico, a market currently served by trucks.

The average intermodal train takes more than 300 trucks off the road with 75-per-cent-fewer greenhouse gas emissions than trucks. Freight trains are four times more fuel efficient than trucks and can move a ton of freight 500 miles on one gallon of fuel.

The MMX temperature controlled service will move fresh and frozen produce, baked goods, candy and other food products northbound, and beef, chicken and pork to southern markets.

MMX trains now link the Chicago, Kansas City and Texas markets, and Monterrey and San Luis Potosi, offering third-day service to and from Laredo, fourth-day service to and from Monterrey and 4.5-day service to and from San Luis Potosi. MMX provides transit time of 98 hours from Chicago to San Luis Potosi -- a day faster than the nearest competitor.

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.

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