Canadian Pacific Kansas City Limited

Good afternoon. My name is Raisa and I will be your conference operator today. At this time, I would like to welcome everyone to CPKC's first quarter 2023 conference call. The slides accompanying today's call are available at investor.cpr.ca. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question, simply press the star, then one on your telephone keypad. If you would like to withdraw your question, press the pound key. I would now like to introduce Megan Alderson, Vice President, Capital Markets, to begin the conference.

Thank you, Raisa. Good afternoon, everyone, and thank you for joining us today. Before we begin, I want to remind you that this presentation contains forward-looking information and actual results may differ materially. The risks, uncertainties and other factors that could influence actual results are described on slide two in our press release and in the MD&A filed with Canadian and U.S. regulators. This presentation will also contain gap measures which are outlined on slide three. With me here today is Keith Creel, our President and Chief Executive Officer. Nadeem Villani, Executive Vice President and Chief Financial Officer. John Brooks, Executive Vice President and Chief Marketing Officer. And Mark Redd, Executive Vice President and Chief Operating Officer. With that, I will hand things over to Keith.

Thanks, Megan. Listen, it's been a journey. We're finally here today. It's an honor to speak for the first time as the CEO of the newly formed CPKC family. You know, it's reflecting the last 11, 12 days of Go Buy Fasts. We're not quite at the two-week mark since we drove that historic final spike, solidifying our combination, but I can tell you the energy and the passion and the pride that I'm seeing from employees across this entirely new form network is energizing. The conviction that I have personally for what this company will deliver for our customers, for our employees, and North American commerce has never been greater. I'd also like to take a moment to thank and commend the CPKC team on All the work that's been done to this point to ensure a smooth start to integrating these two great companies, which I can tell you is no small feat. We intend for history to show that we integrated successfully. So let me move on to our CP final first quarter results. Most importantly, on the safety front, I'm proud that the team's built on last year's record safety performance, continuing a strong performance in the first quarter. with FRA personal injuries down 10%, train accidents down an additional 6%. Running a safe and reliable railroad is a key ingredient to what successfully running a PSR operating model is all about, and it's something that we take tremendous pride in at CP and now CPKC. On the financial side, in the first quarter, we produced revenues of $2.3 billion, an operating ratio of 62.9, and core EPS of 90 cents. On the labor front, we continue to make progress with our labor agreements in the quarter. We ratified recently a collective agreement with the TCRC maintenance employee employees here in Canada. Also ratified the negotiated hourly agreement with the suit line employees represented by the BLET on the U.S. side, as well as several other agreements. You'll also notice in our numbers we've continued to hire and to train with head count up about 10% year over year, preparing for the bottom growth that we expect to deliver. A couple comments on the transaction. You know, John's going to talk about it a bit more in a minute, but I'm extremely excited about the customer response to this service opportunity CPKC is going to create with our two most recent announcements that we've made this weekend last. Partnerships with Snyder and Knight Swift are only the beginning. More to come in June. So with that said, over to you, John, to provide some color on the markets.