Pershing Square Investor Presentation Deck

Inclusion in the FTSE 100 Index Because of strong NAV and stock price performance, PSH was added to the FTSE 100 index on December 21, 2020 The FTSE 100 index seeks to represent the 100 largest companies listed on the London Stock Exchange Inclusion in the FTSE 100 index is a materially positive catalyst for PSH Increases demand for PSH shares by index funds who are required by their investment mandates to purchase the stock Highlights PSH's investment story and undervaluation relative to other index constituents Enhanced visibility should contribute to reduced discount to NAV 14

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