13 CP 2020 ANNUAL REPORT The following charts compare the percentage of the Company's Automotive freight revenues generated by movements of finished vehicles from Canadian, U.S., overseas, and Mexican origins, machinery, and parts and other in 2020, 2019 and 2018: The Company’s Automotive business represented approximately 12% of Merchandise revenues, and was 4% of total Freight revenues in 2020. CP’s Automotive portfolio consists of four finished vehicle traffic components: Canadian-produced vehicles that ship to the U.S. from Ontario production facilities; U.S.-produced vehicles that ship within the U.S. as well as cross border shipments to Canadian markets; vehicles from overseas that move through the Port of Vancouver to eastern Canadian markets; and Mexican-produced vehicles that ship to the U.S. and Canada. In addition to finished vehicles, CP ships machinery, pre-owned vehicles, and automotive parts. A comprehensive network of automotive compounds is utilized to facilitate final delivery of vehicles to dealers throughout Canada and in the U.S. The Company’s Intermodal business represented approximately 21% of total Freight revenues in 2020. The following charts compare the percentage of the Company's Intermodal freight revenues generated from Canada, ports, cross border transportation, other international, and U.S. in 2020, 2019 and 2018: Domestic intermodal freight consists primarily of manufactured consumer products that are predominantly moved in 53-foot containers within North America. International intermodal freight moves in marine containers to and from ports and North American inland markets. INTERMODAL Automotive 2018 Automotive Revenues 2019 Automotive Revenues 2020 Automotive Revenues 2020 Intermodal Revenues 2019 Intermodal Revenues 2018 Intermodal Revenues (22% of Freight Revenues) (21% of Freight Revenues) (21% of Freight Revenues) (12% of Merchandise Revenues;  4% of Freight Revenues) (12% of Merchandise Revenues;  5% of Freight Revenues) (12% of Merchandise Revenues;  5% of Freight Revenues)