<p><strong>PSH 将受益于业绩费用的减少</strong></p>
<p>伦敦 --（商业资讯）-- Pershing Square Holdings, Ltd. (PSHZF) (LN: PSHD) 今日宣布，Pershing Square USA, Ltd. (PSUS) 的普通股首次公开募股已完成，该基金在纽约证券交易所上市，由 PSH 的投资管理人 Pershing Square Capital Management, L.P.（“投资管理人”）管理，同时投资管理人母公司 Pershing Square Inc. (PS) 的普通股首次公开募股也已同时完成。</p>
<p>PSH 及其股东将从 PSUS 的首次公开募股中受益，该募股的总规模为 50 亿美元，因为 PSH 修订后的投资管理协议规定，PSH 的业绩费用将减少相当于投资管理人从某些没有业绩费用或分配的 Pershing Square 基金（如 PSUS）所赚取的管理费用的 20%。</p>
<p>这一费用减少条款是在 2024 年 2 月对投资管理协议的修订中采纳的，如之前所宣布的，补充了现有的费用减少条款，该条款将 PSH 的业绩费用减少相当于 Pershing Square 从某些非 PSH 基金所赚取的业绩费用和分配的 20%。</p>
<p>“我们很高兴 PSH 的股东将因 PSUS 的成功上市而受益于未来业绩费用的减少，” Pershing Square Inc. (PS) 的首席执行官 Bill Ackman 表示。“我们相信，我们新上市的管理公司 PS 有潜力作为未来其他新基金推出的平台，这可能进一步减少 PSH 的业绩费用。”</p>
<p>PSH 董事会主席 Rupert Morley 补充道：“我代表 PSH 董事会，祝贺投资管理人成功完成 Pershing Square USA (PSUS) 和 Pershing Square Inc. (PS) 的首次公开募股，并认可这对 PSH 股东的积极影响。感谢 2024 年投资管理协议修订引入的基于 PSUS 和其他 PS 基金管理费用的新业绩费用抵消条款，PSUS 所产生的费用将使 PSH 能够实现更高的长期回报，这种一致性随着 Pershing Square 的资产管理规模的增长而变得更加有价值。”</p>
<p><strong>本新闻稿不构成出售或购买任何证券的要约或邀请。</strong></p>
<p><strong>关于 Pershing Square Holdings, Ltd. (PSHZF)</strong></p>
<p>Pershing Square Holdings, Ltd. (PSHZF) (LN: PSHD) 是一家结构为封闭式基金的投资控股公司。</p>
<p>类别：（PSH：其他）</p>
<p><img src="https://imageproxy.pbkrs.com/https://cts.businesswire.com/ct/CT/query-ZGlzdHJvPW54JmlkPWJ3bmV3cyZsYW5nPWVuJnNpZD1hY3FyOCZzdHk9MjAyNjA0MzA5NzYxODhyMQ?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://cts.businesswire.com/ct/CT/query-ZGlzdHJvPW54JmlkPWJ3bmV3cyZsYW5nPWVuJnNpZD1hY3FyOCZzdHk9MjAyNjA0MzA5NzYxODhyMQ"/></p>
<p>在 businesswire.com 查看源版本：https://www.businesswire.com/news/home/20260430976188/en/</p>
<p>来源：Pershing Square Holdings, Ltd. (PSHZF)</p>

PSTH.ESC

PSUS

PSHZF

<p>Pershing Square Holdings, Ltd. (PSH) 宣布成功完成 Pershing Square USA, Ltd. (PSUS) 的首次公开募股（IPO），总募资规模为 50 亿美元。此次 IPO 将通过减少业绩费用来惠及 PSH 及其股东，具体内容在修订后的投资管理协议中有所说明。首席执行官比尔·阿克曼（Bill Ackman）对未来的基金发行表示乐观，而董事长鲁珀特·莫利（Rupert Morley）则强调了对 PSH 股东长期回报的积极影响</p>

<p><strong>PSH to Benefit from Reduction of Performance Fees</strong></p>
<div class="lb-trans"><p><strong>PSH 将受益于业绩费用的减少</strong></p>
</div><p>LONDON--(BUSINESS WIRE)-- Pershing Square Holdings, Ltd. ( PSHZF ) (LN: PSHD) today noted the closing of the initial public offering of the common shares of beneficial interest of Pershing Square USA, Ltd. ( PSUS ) , a NYSE-listed U.S. fund managed by PSH’s investment manager, Pershing Square Capital Management, L.P. (the “Investment Manager”), as well as the concurrent closing of the initial public offering of the common stock of the Investment Manager’s parent company, Pershing Square Inc. ( PS ) .</p>
<div class="lb-trans"><p>伦敦 --（商业资讯）-- Pershing Square Holdings, Ltd. (PSHZF) (LN: PSHD) 今日宣布，Pershing Square USA, Ltd. (PSUS) 的普通股首次公开募股已完成，该基金在纽约证券交易所上市，由 PSH 的投资管理人 Pershing Square Capital Management, L.P.（“投资管理人”）管理，同时投资管理人母公司 Pershing Square Inc. (PS) 的普通股首次公开募股也已同时完成。</p>
</div><p>PSH and its shareholders will benefit from the initial public offering of PSUS, which was completed with an aggregate offering size of $5 billion, since PSH’s amended Investment Management Agreement provides that PSH’s performance fees are reduced by an amount equal to 20% of any management fees that the Investment Manager earns from certain Pershing Square funds – such as PSUS – that do not have performance fees or allocations.</p>
<div class="lb-trans"><p>PSH 及其股东将从 PSUS 的首次公开募股中受益，该募股的总规模为 50 亿美元，因为 PSH 修订后的投资管理协议规定，PSH 的业绩费用将减少相当于投资管理人从某些没有业绩费用或分配的 Pershing Square 基金（如 PSUS）所赚取的管理费用的 20%。</p>
</div><p>This fee reduction provision was adopted in an amendment to the IMA in February 2024, as previously announced, supplementing an existing fee reduction provision that reduces PSH’s performance fees by an amount equal to 20% of any performance fees and allocation earned by Pershing Square from certain non-PSH funds.</p>
<div class="lb-trans"><p>这一费用减少条款是在 2024 年 2 月对投资管理协议的修订中采纳的，如之前所宣布的，补充了现有的费用减少条款，该条款将 PSH 的业绩费用减少相当于 Pershing Square 从某些非 PSH 基金所赚取的业绩费用和分配的 20%。</p>
</div><p>“We are pleased that PSH shareholders will benefit from reduced performance fees going forward as a result of the successful completion of the IPO of PSUS, our new U.S. listed fund,” said Bill Ackman, CEO of Pershing Square Inc. ( PS ) “We believe our newly public management company, PS, has the potential to serve as a platform for other new funds to be launched in the future, which could yield further reductions in PSH’s performance fees.”</p>
<div class="lb-trans"><p>“我们很高兴 PSH 的股东将因 PSUS 的成功上市而受益于未来业绩费用的减少，” Pershing Square Inc. (PS) 的首席执行官 Bill Ackman 表示。“我们相信，我们新上市的管理公司 PS 有潜力作为未来其他新基金推出的平台，这可能进一步减少 PSH 的业绩费用。”</p>
</div><p>Rupert Morley, Chairman of PSH added, “On behalf of the PSH board, I want to congratulate the Investment Manager on its success in completing the IPOs of both Pershing Square USA ( PSUS ) and Pershing Square Inc. ( PS ) and recognise the positive impact for PSH shareholders. Thanks to the 2024 IMA amendment that introduced a new performance fee offset based on management fees from PSUS and other PS funds, the fees generated by PSUS will enable PSH to generate higher long-term returns, an alignment that grows more valuable as Pershing Square’s AUM grows over time.&#34;</p>
<div class="lb-trans"><p>PSH 董事会主席 Rupert Morley 补充道：“我代表 PSH 董事会，祝贺投资管理人成功完成 Pershing Square USA (PSUS) 和 Pershing Square Inc. (PS) 的首次公开募股，并认可这对 PSH 股东的积极影响。感谢 2024 年投资管理协议修订引入的基于 PSUS 和其他 PS 基金管理费用的新业绩费用抵消条款，PSUS 所产生的费用将使 PSH 能够实现更高的长期回报，这种一致性随着 Pershing Square 的资产管理规模的增长而变得更加有价值。”</p>
</div><p><strong>This press release does not constitute an offer to sell or buy or the solicitation of an offer to buy or sell any securities.</strong></p>
<div class="lb-trans"><p><strong>本新闻稿不构成出售或购买任何证券的要约或邀请。</strong></p>
</div><p><strong>About Pershing Square Holdings, Ltd. ( PSHZF )</strong></p>
<div class="lb-trans"><p><strong>关于 Pershing Square Holdings, Ltd. (PSHZF)</strong></p>
</div><p>Pershing Square Holdings, Ltd. ( PSHZF ) (LN: PSHD) is an investment holding company structured as a closed-ended fund.</p>
<div class="lb-trans"><p>Pershing Square Holdings, Ltd. (PSHZF) (LN: PSHD) 是一家结构为封闭式基金的投资控股公司。</p>
</div><p>Category: (PSH:Other)</p>
<div class="lb-trans"><p>类别：（PSH：其他）</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://cts.businesswire.com/ct/CT/query-ZGlzdHJvPW54JmlkPWJ3bmV3cyZsYW5nPWVuJnNpZD1hY3FyOCZzdHk9MjAyNjA0MzA5NzYxODhyMQ" alt="" original-src="https://cts.businesswire.com/ct/CT?id=bwnews&amp;sty=20260430976188r1&amp;sid=acqr8&amp;distro=nx&amp;lang=en"/></p>
<p>View source version on businesswire.com: https://www.businesswire.com/news/home/20260430976188/en/</p>
<div class="lb-trans"><p>在 businesswire.com 查看源版本：https://www.businesswire.com/news/home/20260430976188/en/</p>
</div><p>Source: Pershing Square Holdings, Ltd. ( PSHZF )</p>
<div class="lb-trans"><p>来源：Pershing Square Holdings, Ltd. (PSHZF)</p>
</div>

Pershing Square Holdings, Ltd. (âPSHâ) Notes the Closing of Initial Public Offering of Pershing Square USA, Ltd. (âPSUSâ) with Aggregate Offering Size of $5 Billion

Pershing Square Holdings, Ltd.（“PSH”）注意到 Pershing Square USA, Ltd.（“PSUS”）首次公开募股的完成，总发行规模达到 50 亿美元