CPKC to resume rail operations after CIRB directive

CALGARY, AB

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Aug. 24, 2024
/PRNewswire/ –

Canadian Pacific
Kansas City (TSX: NYSE:) (NYSE: CP) (CPKC) announced today that it will be resuming railway operations in
Canada on Monday, Aug. 26 at 00:01 ET following a Canada Industrial Relations Board (CIRB) order. This order mandates CPKC to resume operations and requires Teamsters Canada Rail Conference (TCRC) employees to return to work.

CPKC will fully adhere to the CIRB order by ending the lockout that was initiated on Thursday, Aug. 22. The company has requested TCRC employees to report back to work for the day shift on Sunday in order to swiftly restart rail services and minimize supply chain disruptions.

Our team is diligently following our restart plan to ensure a safe and smooth recovery of rail services across Canada. We are collaborating with our customers for a balanced return to normal operations.

The CIRB has scheduled a case management meeting with all parties for Thursday, Aug. 29, to discuss the implementation of final binding interest arbitration.

As per the CIRB’s order, the existing collective agreements between the company and the union will remain in effect.

This order comes after the Canadian Minister of Labour directed on Thursday, Aug. 22, utilizing his authority under Section 107 of the Canada Labour Code. CPKC eagerly looks forward to welcoming back all Canadian employees to work, aiming to restore full strength to the railway network and resume seamless service to customers, facilitating trade and commerce across North America.

This CIRB order puts an end to months of uncertainty and disruptions in the Canadian economy and North American supply chains. It may take some weeks for the railway network to completely recover from the work stoppage, with additional time needed for supply chains to stabilize.

Forward looking information

This news release contains certain forward-looking information within applicable securities laws in both the U.S. and Canada. The information pertains to collective bargaining between CPKC and labour unions, potential work stoppages, and CPKC’s business operations and services. Undue reliance should not be placed on such information as actual results may vary. CPKC’s forward-looking information is based on numerous assumptions, inherent risks, and uncertainties that could affect outcomes.

About CPKC

Headquartered in Calgary, Alta., Canada, CPKC is the first and only single-line transnational railway connecting Canada, the United States, and Mexico. With access to major ports from Vancouver to Atlantic Canada to the Gulf of Mexico to Lázaro Cárdenas, Mexico, CPKC spans approximately 20,000 route miles and employs 20,000 railroaders. The company offers unparalleled rail service and network reach to key markets across North America, growing with its customers by providing freight transportation services, logistics solutions, and supply chain expertise. Visit cpkcr.com to learn more about CPKC’s rail advantages.