Canadian Pacific Railway Limited - Analyst/Investor Day

Canadian Pacific Railway Limited (CP)

March 27, 2012 9:00 am ET

Executives

Janet Weiss - Assistant Vice-President of Investor Relations

John E. Cleghorn - Chairman, Member of Corporate Governance & Nominating Committee and Chairman of Canadian Pacific Railway Company

Frederic J. Green - Chief Executive Officer, President, Director and Member of Safety, Operations & Environment Committee

J. Michael Franczak - Chief Operations Officer and Executive Vice President of Operations

Jane A. O’Hagan - Executive Vice President and Chief Marketing Officer

Kathryn B. McQuade - Chief Financial Officer and Executive Vice President

Edmond L. Harris - Director, Member of Pension Committee and Member of Safety, Operations & Environment Committee

Donald B. Campbell - Senior Vice President of Financial Planning & Strategy

Timothy W. Faithfull - Independent Director, Chairman of Safety, Operations & Environment Committee, Member of Corporate Governance & Nominating Committee and Member of Management Resources & Compensation Committee

Michael E. J. Phelps - Independent Director, Chairman of Management Resources & Compensation Committee, Member of Corporate Governance & Nominating Committee and Member of Pension Committee

Analysts

Unknown Analyst

Presentation

Janet Weiss

So good morning, and welcome. My name is Janet Weiss, and I'm the AVP of Investor Relations at Canadian Pacific. On behalf of CP's management and the board, I'd like to welcome you to our investor conference. Before beginning our formal presentation, I feel obliged to tell you that this presentation does contain forward-looking information, including, but not limited to CP's operations, anticipated financial performance, business prospects, strategies, priorities and plans. Forward-looking information is based on current expectations, estimates and projections, and actual results may differ materially. The risks, uncertainties and other factors that could influence actual results are described on the slides and in reports filed by CP from time to time with securities regulators in Canada and the United States. All dollars quoted in the presentation are Canadian, unless otherwise stated. We make reference -- we may make reference to assumptions used in our guidance, and we provide sensitivities to these assumptions in the presentation. Please read carefully as these assumptions could change throughout the year. This presentation also contains non-GAAP measures. I would encourage you to read Slides 2, 3 and 4 in the presentation deck.

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