Pershing Square Holdings, Ltd. Issues 2020 Annu...

Pershing Square Holdings, Ltd. Issues 2020 Annual Report and Financial Statements, Announces Annual General Meeting and Proposes Three New Directors

Pershing Square Holdings, Ltd.

Regulatory News:

Pershing Square Holdings, Ltd. (LN:PSH) (LN:PSHD) (NA:PSH) (the “Company”) today issued the PSH annual report and financial statements for the year ended December 31, 2020, which are now available on PSH’s website, https://www.pershingsquareholdings.com/company-reports/financial-statements/.

PSH also announced that its Annual General Meeting of Shareholders (“AGM”) will be held on Wednesday, April 28, 2021, at 12:00 PM BST. Pursuant to mandatory measures announced by the States of Guernsey to reduce the transmission of COVID-19, any persons arriving into the Bailiwick of Guernsey are required to self-isolate for a period of up to 14 days upon arrival and may be required to submit pre-travel forms.

The board of directors of PSH (the “Board”) fully supports these measures to protect public health and safety and, in light of the travel restrictions, requests that shareholders not attend the AGM in person and instead submit proxy votes in electronic form. Arrangements will be made by the Company to ensure that the minimum number of shareholders required to form a quorum will attend the AGM so that it may proceed. The results of the voting will be announced as soon as practicable after the conclusion of the AGM.

At the AGM, shareholders will consider the receipt of the annual report and the financial statements, the renewal of PSH’s share buy-back authority, the re-appointment of PSH’s auditor, the approval to disapply pre-emption rights for any share issuance of 10% or less, and the re-election of PSH’s current directors with the exception of Richard Battey, who has served as a director for the Company for nine years and has determined not to offer himself for re-election, and Richard Wohanka who is not offering himself up for re-election due to his other commitments.

Following a thorough search process for prospective Board candidates, the Nomination Committee (which is comprised of only the independent directors) recommended that the Board submit Tope Lawani, Rupert Morley and Tracy Palandjian for election as non-executive directors to the Board at the upcoming AGM. The election of Mr. Lawani, Mr. Morley and Ms. Palandjian would expand the board to seven members, six of whom are independent.

“The Board is pleased to recommend that shareholders elect Tope, Rupert and Tracy to the PSH Board,” said PSH Chairman Anne Farlow. “Tope’s deep global investing experience, Rupert’s extensive operational, entrepreneurial and investing roles and Tracy’s background in social impact investing and alternative investment management will provide valuable perspectives to the Board and will complement the Board’s existing expertise.”

The specific resolutions can be found in the Notice of Annual General Meeting available on PSH’s website, https://www.pershingsquareholdings.com/company-reports/notices-shareholders/.

Tope Lawani

Mr. Lawani, a Nigerian national, is a co-founder and managing partner of Helios Investment Partners and co-CEO and a director of Helios Fairfax Partners Corp (TSX:HFPC). Prior to forming Helios, he was a principal in the San Francisco and London offices of TPG Capital. He began his career as a mergers & acquisitions and corporate development analyst at the Walt Disney Company.

Mr. Lawani serves as a non-executive director of Helios Towers plc (LSE:HTWS.L), Vivo Energy plc (LSE:VVO.L), LinkCommerce Ltd, Thunes, Axxela Ltd, ZOLA Electric and OVH Energy BV. Mr. Lawani is a member of the MIT Corporation (Massachusetts Institute of Technology’s board of trustees), the MIT School of Engineering dean’s advisory council, the Harvard Law School dean’s advisory board and the international board of The END Fund. He previously served as a non-executive director of Equity Group Holdings Plc (NSE-NAIROBI:EQTY.NR), Emerging Markets Private Equity Association (EMPEA), First City Monument Bank Plc (NSE:FCMB), Bayport Management and Millicom International Cellular (NASDAQ:TIGO). Mr. Lawani also previously served as a board observer of the board of directors of J. Crew, Inc. and Burger King Corp, and on the overseers’ visiting committee of the Harvard Business School.

Mr. Lawani received a B.S. in chemical engineering with a minor in economics from the Massachusetts Institute of Technology, a juris doctorate from Harvard Law School and an MBA from Harvard Business School. He is fluent in Yoruba, a widely spoken West African language.

Rupert Morley

Mr. Morley is a trustee of Comic Relief and chair of its investment advisory group. He has served as chairman and CEO of Rococo Chocolates, one of Britain’s leading makers of high-quality chocolates, since 2017. He purchased the business out of administration in 2019, prior to which he was a minority shareholder. Mr. Morley previously served as CEO of Sterling Relocation, Hamptons estate agency and Propertyfinder.co.uk and managing director of Swan Hellenic Cruises. He also previously served as operations director of Brierley Investments Limited, a non-executive director of Thistle Hotels, English Welsh & Scottish Railways and Graham-Field Health Products and president of the Fédération Internationale des Déménageurs Internationaux (FIDI).

He has a degree in economics from Cambridge University and an MBA from Harvard Business School where he was a Kennedy Scholar.

Tracy Palandjian

Ms. Palandjian is co-founder and CEO of Social Finance, Inc., a non-profit organization focused on developing and managing investments that generate social impact and financial return. Prior to Social Finance, Ms. Palandjian was a managing director for eleven years at The Parthenon Group, a global strategy consulting firm, where she established and led the Nonprofit Practice. She also worked at Wellington Management Co. and McKinsey & Co.

Ms. Palandjian is co-author of “Investing for Impact: Case Studies Across Asset Classes,” and serves as vice chair of the U.S. Impact Investing Alliance and vice chair of the Global Steering Group on Impact Investing. She is an independent director of Affiliated Managers Group (NYSE:AMG) where she is on the compensation and nominating & governance committees, a trustee at the Surdna Foundation where she chairs the investment committee, and a director at the Boston Foundation. Previously, Ms. Palandjian served as vice chair of the Harvard Board of Overseers, board chair of Facing History and Ourselves, co-chair of Robert F. Kennedy Human Rights, and trustee of Milton Academy. Ms. Palandjian is a 2019 recipient of the HBS Alumni Achievement Award, the school’s highest honor.

A native of Hong Kong, Ms. Palandjian is fluent in Cantonese and Mandarin. She graduated from Harvard College with a B.A. magna cum laude in economics and holds an M.B.A. with high distinction from Harvard Business School, where she was a Baker Scholar.

About Pershing Square Holdings, Ltd.

Pershing Square Holdings, Ltd. (LN:PSH) (LN:PSHD) (NA:PSH) is an investment holding company structured as a closed-ended fund that makes concentrated investments principally in North American domiciled companies.

Category: (PSH:FinancialReporting)

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The document will shortly be available for inspection on the National Storage Mechanism website: https://data.fca.org.uk/#/nsm/nationalstoragemechanism

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