<p><strong>PSH 將受益於業績費用的減少</strong></p>
<p>倫敦 --（商業資訊）-- Pershing Square Holdings, Ltd. (PSHZF) (LN: PSHD) 今日宣佈，Pershing Square USA, Ltd. (PSUS) 的普通股首次公開募股已完成，該基金在紐約證券交易所上市，由 PSH 的投資管理人 Pershing Square Capital Management, L.P.（“投資管理人”）管理，同時投資管理人母公司 Pershing Square Inc. (PS) 的普通股首次公開募股也已同時完成。</p>
<p>PSH 及其股東將從 PSUS 的首次公開募股中受益，該募股的總規模為 50 億美元，因為 PSH 修訂後的投資管理協議規定，PSH 的業績費用將減少相當於投資管理人從某些沒有業績費用或分配的 Pershing Square 基金（如 PSUS）所賺取的管理費用的 20%。</p>
<p>這一費用減少條款是在 2024 年 2 月對投資管理協議的修訂中採納的，如之前所宣佈的，補充了現有的費用減少條款，該條款將 PSH 的業績費用減少相當於 Pershing Square 從某些非 PSH 基金所賺取的業績費用和分配的 20%。</p>
<p>“我們很高興 PSH 的股東將因 PSUS 的成功上市而受益於未來業績費用的減少，” Pershing Square Inc. (PS) 的首席執行官 Bill Ackman 表示。“我們相信，我們新上市的管理公司 PS 有潛力作為未來其他新基金推出的平台，這可能進一步減少 PSH 的業績費用。”</p>
<p>PSH 董事會主席 Rupert Morley 補充道：“我代表 PSH 董事會，祝賀投資管理人成功完成 Pershing Square USA (PSUS) 和 Pershing Square Inc. (PS) 的首次公開募股，並認可這對 PSH 股東的積極影響。感謝 2024 年投資管理協議修訂引入的基於 PSUS 和其他 PS 基金管理費用的新業績費用抵消條款，PSUS 所產生的費用將使 PSH 能夠實現更高的長期回報，這種一致性隨着 Pershing Square 的資產管理規模的增長而變得更加有價值。”</p>
<p><strong>本新聞稿不構成出售或購買任何證券的要約或邀請。</strong></p>
<p><strong>關於 Pershing Square Holdings, Ltd. (PSHZF)</strong></p>
<p>Pershing Square Holdings, Ltd. (PSHZF) (LN: PSHD) 是一家結構為封閉式基金的投資控股公司。</p>
<p>類別：（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>來源：Pershing Square Holdings, Ltd. (PSHZF)</p>

PSTH.ESC

PSUS

PSHZF

<p>Pershing Square Holdings, Ltd. (PSH) 宣佈成功完成 Pershing Square USA, Ltd. (PSUS) 的首次公開募股（IPO），總募資規模為 50 億美元。此次 IPO 將通過減少業績費用來惠及 PSH 及其股東，具體內容在修訂後的投資管理協議中有所説明。首席執行官比爾·阿克曼（Bill Ackman）對未來的基金髮行表示樂觀，而董事長魯珀特·莫利（Rupert Morley）則強調了對 PSH 股東長期回報的積極影響</p>

<p><strong>PSH to Benefit from Reduction of Performance Fees</strong></p>
<div class="lb-trans"><p><strong>PSH 將受益於業績費用的減少</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>倫敦 --（商業資訊）-- Pershing Square Holdings, Ltd. (PSHZF) (LN: PSHD) 今日宣佈，Pershing Square USA, Ltd. (PSUS) 的普通股首次公開募股已完成，該基金在紐約證券交易所上市，由 PSH 的投資管理人 Pershing Square Capital Management, L.P.（“投資管理人”）管理，同時投資管理人母公司 Pershing Square Inc. (PS) 的普通股首次公開募股也已同時完成。</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 及其股東將從 PSUS 的首次公開募股中受益，該募股的總規模為 50 億美元，因為 PSH 修訂後的投資管理協議規定，PSH 的業績費用將減少相當於投資管理人從某些沒有業績費用或分配的 Pershing Square 基金（如 PSUS）所賺取的管理費用的 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>這一費用減少條款是在 2024 年 2 月對投資管理協議的修訂中採納的，如之前所宣佈的，補充了現有的費用減少條款，該條款將 PSH 的業績費用減少相當於 Pershing Square 從某些非 PSH 基金所賺取的業績費用和分配的 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>“我們很高興 PSH 的股東將因 PSUS 的成功上市而受益於未來業績費用的減少，” Pershing Square Inc. (PS) 的首席執行官 Bill Ackman 表示。“我們相信，我們新上市的管理公司 PS 有潛力作為未來其他新基金推出的平台，這可能進一步減少 PSH 的業績費用。”</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 董事會主席 Rupert Morley 補充道：“我代表 PSH 董事會，祝賀投資管理人成功完成 Pershing Square USA (PSUS) 和 Pershing Square Inc. (PS) 的首次公開募股，並認可這對 PSH 股東的積極影響。感謝 2024 年投資管理協議修訂引入的基於 PSUS 和其他 PS 基金管理費用的新業績費用抵消條款，PSUS 所產生的費用將使 PSH 能夠實現更高的長期回報，這種一致性隨着 Pershing Square 的資產管理規模的增長而變得更加有價值。”</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>本新聞稿不構成出售或購買任何證券的要約或邀請。</strong></p>
</div><p><strong>About Pershing Square Holdings, Ltd. ( PSHZF )</strong></p>
<div class="lb-trans"><p><strong>關於 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) 是一家結構為封閉式基金的投資控股公司。</p>
</div><p>Category: (PSH:Other)</p>
<div class="lb-trans"><p>類別：（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>來源：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”）首次公開募股的完成，總髮行規模達到 50 億美元