Canadian Pacific Kansas City Limited said its wholly owned subsidiary, Canadian Pacific Railway Company, is issuing four guaranteed Canadian-dollar note tranches totaling C$1.8 billion. The notes carry coupons of 4.20%, 4.60%, 4.90% and 5.40% and mature in 2030, 2033, 2037 and 2056, respectively. The Offering is expected to close on October 6, 2026, subject to customary conditions, with net proceeds primarily earmarked to refinance outstanding indebtedness and for general corporate purposes. The Offering is being made in Canada under a base shelf prospectus (a pre-filed securities issuance framework) dated March 6, 2025, supplemented on September 28, 2026. Prospectus documents will be available on SEDAR+ within two business days. The securities are not registered under the U.S. Securities Act of 1933 or U.S. state securities laws and cannot be offered or sold in the United States or to U.S. persons without registration or an applicable exemption. CPKC cautioned that the release contains forward-looking statements about completion and use of proceeds, which are subject to extensive economic, regulatory, operational, market and integration risks.