Canadian Pacific Railway Ltd (CP): Bill Ackman Has No Plans to Sell Shares

Page 2 of 7 SEC Filing

CUSIP No. 13645T100

  1

NAME OF
REPORTING PERSON

Pershing Square Capital Management, L.P.

  2

CHECK THE APPROPRIATE BOX IF A MEMBER
OF A GROUP (SEE INSTRUCTIONS)

(a)  ¨        (b)  ¨

  3

SEC USE ONLY

  4

SOURCE OF FUNDS (SEE INSTRUCTIONS)

OO (See Item 3)

  5

CHECK IF DISCLOSURE OF LEGAL
PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)

¨

  6

CITIZENSHIP OR PLACE OF
ORGANIZATION

Delaware

NUMBER OF

SHARES

BENEFICIALLY

OWNED BY

EACH

REPORTING

PERSON

WITH

  7

SOLE VOTING POWER

0

  8

SHARED VOTING POWER

13,940,890

  9

SOLE DISPOSITIVE POWER

0

10

SHARED DISPOSITIVE POWER

13,940,890

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

13,940,890

12

CHECK IF THE AGGREGATE AMOUNT IN ROW
(11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)

¨

13

PERCENT OF CLASS REPRESENTED BY AMOUNT
IN ROW (11)

9.1% (1)

14

TYPE OF REPORTING PERSON (SEE
INSTRUCTIONS)

IA

(1) This calculation is based on 153,021,661 common shares, no par value (Common Shares), of Canadian Pacific Railway Limited outstanding as of February 26, 2016 as reported in the Issuers 10-K
filed on February 29, 2016 (the 10-K).

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