Pershing Square USA, Ltd. Clarifies Press Reports

NEW YORK--(BUSINESS WIRE)--Pershing Square USA, Ltd. (“PSUS” or the “Company”), today issued the following statement:

To clarify press reports, Pershing Square USA. Ltd. is proceeding with its initial public offering (the “IPO”) of its common shares of beneficial interest (the “Common Shares”) with the date of pricing to be announced.

The IPO price will be $50.00 per Common Share. PSUS has applied to list the Common Shares on the New York Stock Exchange under the symbol "PSUS." PSUS intends to invest the net proceeds of the IPO in accordance with its investment objective and policies.

A registration statement on Form N-2 relating to the Common Shares has been filed with the U.S. Securities and Exchange Commission (the "SEC") but has not yet become effective. The Common Shares may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. The IPO will be made only by means of a prospectus. Copies of the preliminary prospectus relating to the IPO may be obtained by visiting EDGAR on the SEC’s website at www.sec.gov. Alternatively, copies of the preliminary prospectus may be obtained by contacting the offices of Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 (Tel: [phone]); UBS Securities LLC, Attention: Prospectus Department, 1285 Avenue of the Americas, New York, NY 10019, by telephone at [phone], or by email at [e-mail]; BofA Securities, NC1-022-02-25, Attention: Prospectus Department, 201 North Tryon Street, Charlotte, North Carolina 28255, or by email at: [e-mail]; Jefferies LLC at Prospectus Department, 520 Madison Avenue, New York, New York 10022, by telephone at [phone], or by e-mail at [e-mail].

Consider the investment objective and policies, risk considerations, and charges and expenses of the Company carefully before investing. The preliminary prospectus contains this and other information about the Company.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any Common Shares, and shall not constitute an offer, solicitation, or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction. Any offers, solicitations or offers to buy, or any sales of Common Shares will be made in accordance with the registration requirements of the U.S. Securities Act of 1933, as amended. The IPO is subject to market and other conditions and the completion of the SEC’s review process

About Pershing Square USA, Ltd.
Pershing Square USA, Ltd. is a closed-end investment management company registered under the Investment Company Act of 1940, as amended, that will be advised by its investment adviser, Pershing Square Capital Management, L.P. following the completion of the IPO and its commencement of investment operations.

About Pershing Square Capital Management, L.P.
Pershing Square Capital Management, L.P., based in New York City, is a SEC-registered investment advisor to investment funds.