2019 Performance Review slide image

2019 Performance Review

HHC Share Price Performance Since Inception HHC's share price increased 30% in 2019 and decreased 3% year-to-date in 20201 HHC's share price performance from 11/9/2010 to 2/4/2020 $170 $150 10/21/19: HHC Board concludes strategic review process and announces transformation plan and new leadership Share price $130 $110 $90 $70 $50 $30 Nov-2010 Mar-2012 Jun-2013 Oct-2014 Feb-2016 6/27/19: HHC announces its Board of Directors will be conducting a detailed review of strategic alternatives Jun-2017 Oct-2018 Note: The performance of HHC's share price is provided for illustrative purposes only and is not an indication of future returns of the Pershing Square funds. *Average cost at announcement date. Please see the additional disclaimers and notes to performance results at the end of the presentation. (1) As of 2/4/2020 49 $123 $37* Feb-2020
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