CP recognized for sustainability leadership; named to the 2022 Dow Jones Sustainability World and North America Indices

CALGARY, AB, Dec. 12, 2022 /PRNewswire/ - Canadian Pacific (TSX: CP) (NYSE: CP) is proud to announce that it has been included in the Dow Jones Sustainability World Index (DJSI World) for the first time and in the North America Index (DJSI North America) for the third consecutive year.

The index benchmarks corporate sustainability performance based on an assessment of comprehensive governance, economic, environmental and social criteria. The world's top companies were selected for DJSI membership from a record number of participants in the 2022 Corporate Sustainability Assessment.

"At CP, we continuously challenge ourselves to innovate across our business and develop meaningful ways to serve our customers, each other and the communities we operate in and through," said Keith Creel, CP President and Chief Executive Officer. "We are proud to be recognized again as a sustainability leader by the DJSI, and committed to delivering on our sustainability journey."

This year, CP performed particularly well in the areas of human rights, supply chain, occupational health and safety, environmental policy, management and reporting and corporate citizenship and philanthropy.

CP's sustained membership in the DJSI index reflects a long-term organizational commitment to continuous improvement and transparent disclosure of the company's sustainability performance. In 2022, CP became the first freight rail company in North America to participate in the United Nations (UN) Global Compact, a voluntary global corporate sustainability initiative.

CP's commitment to corporate sustainability extends to operating safely, maintaining operational excellence throughout the company's network and understanding and managing the social and environmental impact of CP's work. CP continues to lead by advancing its Climate Strategy and ambitious science-based greenhouse gas emissions reduction targets the company set in 2021.

For more information about CP's sustainability initiatives, visit sustainability.cpr.ca.

This news release includes certain forward-looking statements and forward looking information (collectively, FLI). FLI is typically identified by words such as "anticipate", "expect", "project", "estimate", "seek", "forecast", "plan", "intend", "will", "target", "believe", "likely" and similar words suggesting future outcomes or statements regarding an outlook. All statements other than statements of historical fact may be FLI.

This news release contains FLI relating, but not limited, to: GHG emissions targets; sustainability principles and the UN Sustainable Development Goals; the anticipated impacts of such developments on CP's operations, priorities and plans, and certain anticipated future strategies, plans and goals relating to sustainability.

Although we believe that the FLI is reasonable based on the information available today and processes used to prepare it, such statements are not guarantees of future performance and you are cautioned against placing undue reliance on FLI. We can provide no assurance that CP's plans to maintain our sustainability performance or reduce GHG emissions per our commitments and aspirations will be viable or successful. The primary risks associated with achieving these commitments could include but are not limited to (a) future investments in and the availability of carbon emissions-reduction tools and technologies, (b) CP's ability to work with governments and third parties to mitigate the impacts of climate change, (c) domestic and international economic conditions, including exchange rates, (d) the effects of competition and regulation, (e) uncertainties in the financial markets, (f) capital spending, (g) actions of vendors, (h) the willingness of customers to acquire our services, (i) cost of network expansion, maintenance and retrofits, (j) physical impact of climate change on our business (k) changes in carbon markets, (l) evolving sustainability strategies and (m) scientific or technological developments. The commitments are subject to the successful implementation of the actions and plans outlined in the Climate Strategy as well as the accuracy of the assumptions in the science-based methodology used to calculate these targets.

By its nature, FLI involves a variety of assumptions, which are based upon factors that may be difficult to predict and that may involve known and unknown risks and uncertainties and other factors which may cause actual results, levels of activity and achievements to differ materially from those expressed or implied by these FLI, including, but not limited to, the following: the fuel efficiency of railways and CP's operations; CP's ability to implement certain initiatives, including emissions targets, scenario analyses, risk mitigation strategies, changes to enterprise risk management and internal carbon pricing mechanisms; future investments in and the availability of carbon emissions-reduction tools and technologies including through CP's fleet modernization program and technology upgrades; the impacts of existing and planned capital investments; CP's ability to work with governments, nations and other third parties to mitigate the impacts of climate change and reach global climate change targets; the possibility of eliminating emissions from freight train operations; North American and global economic growth; commodity demand growth; agricultural production; commodity prices and interest rates; the performance of CP's assets and equipment; applicable laws, regulations and government policies; the availability and cost of labour on the timelines anticipated and with the capabilities required, as well as the availability and cost of services and infrastructure; sufficiency of CP's budgeted capital expenditures in carrying out CP's business plan; the satisfaction by third parties of their obligations to CP; the impacts of the novel strain of coronavirus (and the disease known as COVID-19); and capital investments by third parties. Although CP believes the expectations, estimates, projections and assumptions reflected in the FLI presented herein are reasonable as of the date hereof, there can be no assurance that they will prove to be correct. Current conditions, economic and otherwise, render assumptions, although reasonable when made, subject to greater uncertainty.

The foregoing list of factors is not exhaustive. These and other factors are detailed from time to time in reports filed by CP with securities regulators in Canada and the United States. Reference should be made to "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations - Forward-Looking Statements" in CP's annual and interim reports on Form 10-K and 10-Q.

Except to the extent required by law, we assume no obligation to publicly update or revise any FLI, whether as a result of new information, future events or otherwise. All FLI in this news release is expressly qualified in its entirety by these cautionary statements.

Canadian Pacific is a transcontinental railway in Canada and the United States with direct links to major ports on the west and east coasts. CP provides North American customers a competitive rail service with access to key markets in every corner of the globe. CP is growing with its customers, offering a suite of freight transportation services, logistics solutions and supply chain expertise. Visit cpr.ca to see the rail advantages of CP. CP-IR

SOURCE Canadian Pacific