I recently flew FLL-YYZ and landed 2 hours and 58 minutes late (so no compensation ) but was wondering what would have happened compensation wise if it had been a longer delay.

The reason for the delay was weather - but not the weather in FLL or YYZ. The captain shared that the issue was weather in YUL where the inbound plane had arrived from earlier in the day and was late due to weather conditions over there.

Does weather anywhere in the system negate compensation?