Pershing Square Holdings Ltd

Transaction in Own Shares • Jun 4, 2020

National Storage Mechanism | Additional information

Pershing Square Holdings, Ltd. Announces Transactions in Own Shares and Weekly Summary of Transactions in Own Shares

Pershing Square Holdings, Ltd. (LN:PSH) (LN:PSHD) (NA:PSH) (“PSH”) today announced that it has purchased, through PSH’s agent, Jefferies International Limited (“Jefferies”), the following number of PSH’s Public Shares of no par value (ISIN Code: GG00BPFJTF46) (the "Shares"):

Trading Venue:	London Stock Exchange
Ticker:	PSH
Date of Purchase:	3 June 2020
Number of Public Shares purchased:	35,753 Shares
Highest Price Paid Per Share:	1,954 pence / 24.61 USD
Lowest Price Paid Per Share:	1,942 pence / 24.46 USD
Average Price Paid Per Share:	1,949 pence / 24.56 USD
Ticker:	PSHD
Date of Purchase:	3 June 2020
Number of Public Shares purchased:	21,202 Shares
Highest Price Paid Per Share:	24.60 USD
Lowest Price Paid Per Share:	24.60 USD
Average Price Paid Per Share:	24.60 USD
Trading Venue:	Euronext Amsterdam
Ticker:	PSH
Date of Purchase:	3 June 2020
Number of Public Shares purchased:	48,154 Shares
Highest Price Paid Per Share:	24.60 USD
Lowest Price Paid Per Share:	24.45 USD
Average Price Paid Per Share:	24.59 USD

PSH will hold these Public Shares in Treasury. The net asset value per Public Share related to this buyback is 34.24 USD / 27.72 GBP which was calculated as of 31 May 2020 (the “Relevant NAV”). After giving effect to the above buyback, PSH has 196,980,971 Public Shares outstanding, or 202,899,951 Public Shares calculated on a fully diluted basis (assuming that all Management Shares had been converted into Public Shares at the Relevant NAV). Excluded from the shares outstanding are 13,975,779 Public Shares held in Treasury. The prices per Public Share were calculated by Jefferies.

The number of PSH Management Shares and the one special voting share (held by PS Holdings Independent Voting Company Limited) have not been affected.

PSH also announces that it has published to its website, in accordance with the EU Commission Delegated Regulation (EU) 2016/1052, details of transactions in its own shares for the past week. Information is available at https://pershingsquareholdings.com/company-reports/other-materials/.

About Pershing Square Holdings, Ltd.

Pershing Square Holdings, Ltd. (LN:PSH) (LN:PSHD) (NA:PSH) is an investment holding company structured as a closed-ended fund that makes concentrated investments principally in North American companies.

Camarco

Ed Gascoigne-Pees / Hazel Stevenson +44 020 3757 4989, media-pershingsquareholdings@camarco.co.uk

View source version on businesswire.com: https://www.businesswire.com/news/home/20200603005880/en/

Pershing Square Holdings, Ltd.