CPKC receives arbitration decision establishing new TCRC collective agreements

, /PRNewswire/ - Canadian Pacific Kansas City (TSX: CP) (NYSE: CP) (CPKC) today said it has received an arbitrator's ruling establishing new collective bargaining agreements with the Teamsters Canada Rail Conference (TCRC) – Train and Engine (T&E) division and the TCRC - Rail Canada Traffic Controllers (RCTC) division. Arbitrator William Kaplan issued his ruling after the completion of multiple rounds of mediation and ultimately the conclusion of the interest arbitration process. The arbitrator's ruling establishes terms of new four-year contracts with both TCRC bargaining units. TCRC – T&E represents approximately 3,200 locomotive engineers, conductors, train and yard workers across Canada. TCRC – RCTC represents approximately 80 rail traffic controllers in Canada. The new collective agreements with the TCRC divisions, effective from January 1, 2024, through December 31, 2027, include annual wage increases of 3%. The provisions outlined in the arbitrator's award do not require ratification. The establishment of these multi-year collective agreements involving train crews and rail traffic controllers come after the ratification earlier this year of three new collective agreements reached at the bargaining table between CPKC and unions representing thousands of mechanical, engineering, clerical and intermodal employees in Canada. Together, these agreements bring labour stability to CPKC operations in Canada, allowing efficient and dependable rail service to continue uninterrupted for years to come. Forward looking information This news release contains certain forward-looking information and forward-looking statements (collectively, "forward-looking information") within the meaning of applicable securities laws in both the U.S. and Canada. Any statements about CPKC's expectations, beliefs, plans, goals, targets, predictions, forecasts, objectives, assumptions, information and statements about possible future events, conditions and results of operations or performance are not historical facts and may be forward-looking. Forward-looking information in this news release includes, but is not limited to, statements in respect of the collective bargaining agreements entered into between CPKC TCRC divisions, and the effects and results stemming therefrom. Forward-looking information is often, but not always, made through the use of words or phrases such as "anticipates", "aims", "strives", "seeks", "believes", "can", "could", "may", "predicts", "potential", "should", "will", "estimates", "plans", "mileposts", "projects", "continuing", "ongoing", "expects", "intends" and similar words or phrases suggesting future outcomes. The forward-looking information that may be in this news release is based on current expectations, estimates, projections and assumptions, having regard to CPKC's experience and its perception of historical trends, and includes, but is not limited to, expectations, estimates, projections and assumptions relating to: applicable laws, regulations and government policies; and CPKC's relationship with TCRC going-forward. Undue reliance should not be placed on forward-looking information as actual results may differ materially from the forward-looking information. Forward-looking information is not a guarantee of future performance. By its nature, CPKC's forward-looking information involves numerous assumptions, inherent risks and uncertainties that could cause actual results to differ materially from the forward-looking information, including but not limited to the following factors: general North American and global economic and business conditions; changes in laws and regulations; and labour disputes. The foregoing list of factors is not exhaustive. These and other factors are detailed from time to time in reports filed by CPKC with the securities regulators in Canada and with the Securities and Exchange Commission (SEC) in the United States. Readers should refer to "Item 1A - Risk Factors" and "Item 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations - Forward-Looking Information" in CPKC's annual reports on Form 10-K and to our risk factor and forward-looking information disclosure in our Form 10-Q filed on SEDAR+ (www.sedarplus.ca) and EDGAR (www.sec.gov). Readers are cautioned not to place undue reliance on forward-looking information. Forward looking information is based on current expectations, estimates and projections and it is possible that predictions, forecasts, projections, and other forms of forward-looking information will not be achieved by CPKC. Except as required by law, CPKC undertakes no obligation to update publicly or otherwise revise any forward-looking information, or the foregoing assumptions and risks affecting such forward-looking information, whether as a result of new information, future events or otherwise. About CPKC With its global headquarters in Calgary, Alta., Canada, CPKC is the first and only single-line transnational railway linking Canada, the United States and México, with unrivaled access to major ports from Vancouver to Atlantic Canada to the Gulf Coast to Lázaro Cárdenas, México. 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. Visit cpkcr.com to learn more about the rail advantages of CPKC. CP-IR SOURCE CPKC WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

CPKC receives arbitration decision establishing new TCRC collective agreements

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