Notification and Public Disclosure of Transactions

1.

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

William A. Ackman

2.

Reason for the notification

a)

Position / status

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

Disposition by way of contribution to WAFH LLC

c)

Price(s) and volume(s)

Price(s)

Volume(s)

1.

NA

31,376,889

2.

NA

10,000,000

d)

Aggregate information:

- Aggregated volume

- Price

Volume (aggregate)

Price

(aggregate)

1.

31,376,889

NA

2.

10,000,000

NA

e)

Date of transaction

1. 9 February 2022

2. 14 February 2022

f)

Place of the transaction

1. Outside a trading venue (OTC)

2. Outside a trading venue (OTC)

Remarks: William A. Ackman contributed 31,376,889 Public Shares to WAFH LLC, which he wholly owns, and 10,000,000 Public Shares to WAFH II LLC, which he wholly owns.