Notification and Public Disclosure of Transactions

1.

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

WAFH II LLC

2.

Reason for the notification

a)

Position / status

Person closely associated with William A. Ackman, CEO of investment manager to issuer

b)

Initial notification / amendment

Initial

3.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Pershing Square Holdings, Ltd.

b)

LEI

U7LC4KOKCTZ0YWGI2G56

4.

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

Public Shares (Shares A)

Identification code (ISIN)

GG00BPFJTF46

b)

Nature of the transaction

Acquisition by way of contribution from William A. Ackman

c)

Price(s) and volume(s)

Price(s)

Volume(s)

NA

10,000,000

d)

Aggregate information:

- Aggregated volume

- Price

Volume

(aggregate)

Price

(aggregate)

10,000,000

NA

e)

Date of transaction

14 February 2022

f)

Place of the transaction

Outside a trading venue (OTC)

Remarks: William A. Ackman contributed 10,000,000 Public Shares to WAFH II LLC, which he wholly owns.