Pershing Square Investor Presentation Deck

Total Assets Under Management As of 2/16/2021 ($ in millions) Pershing Square Holdings ("PSH") Pershing Square, L.P. ("PSLP") Pershing Square International ("PSI") Total Core Funds Total AUM $12,027 997 538 $13,562 Assets under management are gross of accrued performance fees. (1) Total A UM includes $2.1 billion PSH bond proceeds. Equity AUM excludes $2.1 billion PSH bond proceeds. 25 Equity AUM $9,927 997 538 $11,462

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