Ms. Isabelle Courville reports

CPKC ANNOUNCES RESULTS OF DIRECTOR ELECTIONS

Canadian Pacific Kansas City Ltd. has released the results of the 2026 annual meeting held earlier today, including the election of all 14 nominees listed in the management proxy circular dated March 10, 2026, as directors of CPKC.

All directors received at least 95.84 per cent of votes cast. Isabelle Courville, upon her re-election as a director, was reappointed chair of CPKC's board of directors. Gordon Trafton, upon his re-election as a director, was reappointed vice-chair of CPKC's board of directors.

The advisory vote on executive compensation (say on pay) received 87.48 per cent in favour. The advisory vote on approach to climate change (say on climate) received 88.72 per cent in favour. The appointment of Ernst & Young LLP as auditor received 99.88 per cent in favour.

The detailed results of the vote by ballot on the election of directors are as follows.

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

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