Canadian Pacific Railway Co/New Sample Contracts

Canadian Pacific Railway Co/New – CANADIAN PACIFIC RAILWAY COMPANY and WELLS FARGO BANK, NATIONAL ASSOCIATION as Trustee INDENTURE made as of September 11, 2015 Providing for the issue of Debt Securities in unlimited principal amount (February 29th, 2016)

INDENTURE is made as of September 11, 2015 between Canadian Pacific Railway Company, a corporation governed by the laws of Canada, and having its registered office at the City of Calgary in the Province of Alberta, Canada (the “Corporation”), and Wells Fargo Bank, National Association, a national banking association organized and existing under the laws of the United States of America, as trustee (the “Trustee”).