The 2003 No Way Out was the fifth No Way Out professional wrestling pay-per-view (PPV) event produced by World Wrestling Entertainment (WWE). It was held for wrestlers from the promotion's Raw and SmackDown! brand divisions. The event took place on February 23, 2003, at the Bell Centre in Montreal, Quebec, Canada. It was the first No Way Out produced under the WWE name, after the promotion was renamed from World Wrestling Federation (WWF) to WWE in May 2002, as well as the first held under the first brand extension that began in March 2002. This was also the first WWE pay-per-view held in Montreal since the infamous Montreal Screwjob at Survivor Series in 1997.

The main event from the SmackDown! brand was a rematch from WrestleMania X8 between Hulk Hogan and The Rock, which The Rock won by pinfall after Sylvain Grenier, the referee of the match, allowed Rock to hit Hogan with a steel chair, which proceeded to a Rock Bottom. The main event from the Raw brand was a World Heavyweight Championship match between Triple H and Scott Steiner, which Triple H won via pinfall, after he hit Steiner with the championship belt and a Pedigree. The primary match on the undercard from Raw was the encounter of Steve Austin and Eric Bischoff, which Austin won via pinfall after three consecutive Stone Cold Stunners. The main match on the undercard from SmackDown! was a six-man tag team match between Team Angle (Kurt Angle, Charlie Haas, and Shelton Benjamin) and the team of Brock Lesnar, Edge, and Chris Benoit, where Edge was unable to participate in the match due to injury. The match, however, was won by Lesnar and Benoit via submission, after Benoit forced Haas to submit to the Crippler Crossface.