Pershing Square Holdings, Ltd.

Pershing Square Holdings, Ltd. functions as a closed-ended, balanced hedge fund, meticulously managed by Pershing Square Capital Management, L.P. Its investment mandate extends globally, encompassing both public equity and fixed income instruments. Within equities, the fund strategically targets value stocks belonging to a diverse range of industry sectors. The fixed income segment predominantly allocates capital to convertible and various debt securities. Furthermore, its investment toolkit includes the use of derivatives. A core aspect of its portfolio construction is the implementation of a long/short investment strategy. The fund's performance is gauged against established benchmarks such as the S&P 500 Index and the HFRX Global Hedge Fund Index. This entity was established on February 2, 2012, and maintains its legal domicile in Guernsey.