Terms and Conditions of Use

These Terms and Conditions of Use (the “Terms of Use”) govern your access to and use of the website (https://pershingsquareholdings.com/) (the “Site”) and the content displayed on the Site. Please review these Terms carefully before using the Site.

The Site is made available by Pershing Square Holdings, Ltd. (“we” or “us” or “our”). By accessing, viewing, and using the Site, you indicate that you understand and intend these Terms of Use to be the legal equivalent of a signed, written contract and equally binding, and that you accept such Terms of Use and agree to be legally bound by them.

We reserve the right to change the Terms of Use under which this Site and its contents are made available to you. Your continued use of the Site following reasonable notice of such modifications will constitute your acceptance of such changes. You also agree that notices that we may provide on the Site shall be deemed reasonable notice for this purpose.

The information provided on the Site is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation. All persons and entities accessing the Site do so of their own initiative and are responsible for compliance with applicable local laws and regulations. The Site is not directed to any person in any jurisdiction where the publication or availability of the Site is prohibited by reason of that person’s nationality, residence or otherwise. Any user subject to these restrictions must not access the Site.

Ownership of the Site and Content.

As between you and us, we own, solely and exclusively, all rights, title, and interest in and to the Site, all the content (including, for example, audio, photographs, illustrations, graphics, other visuals, video, copy, text, software, titles, Shockwave files, etc.), code, data, and materials thereon, the look and feel, design, and organization of the Site, and the compilation of the content, code, data, and materials on the Site, including but not limited to any copyrights, trademark rights, patent rights, database rights, moral rights, sui generis rights, and other intellectual property and proprietary rights therein. Your use of the Site does not grant to you ownership of any content, code, data, or materials you may access on or through the Site.

Grant of License.

We grant you a limited, non-exclusive, revocable, non-sublicensable license to display and otherwise access and/or use the Site and any content on the Site solely for your own private, non-commercial informational purposes only, and to print pages of content from the Site only in connection with such access and/or use. You may not modify, distribute, transmit, perform, reproduce, publish, license, create derivative works from, transfer or sell any text, graphics, logos and other source-identifying symbols, designs, icons, images, or other information, software, data or code featured on or obtained from the Site.

Except as specifically permitted herein, nothing contained in these Terms of Use or the Site either grants or will be construed to grant to you or any third party any title or interest in, or any license or right to use or reproduce, any content, software, data, code, materials, trademark, logo or service mark contained on the Site, including without limitation the name PERSHING SQUARE or corresponding logo or any other trademark of ours of our affiliates.

Privacy Policy.

In the course of your use of the Site, you may be asked to provide certain personal information to us (such information referred to hereinafter as “User Information”). Our information collection and use policies with respect to the privacy of such User Information are set forth in the Site’s Online Privacy Notice which is incorporated herein by reference for all purposes. You acknowledge and agree that you are solely responsible for the accuracy and content of User Information.

Prohibited Uses of the Site.

Any commercial or promotional distribution, publishing, or exploitation of the Site, or any content, software, data, code, or materials on the Site, is strictly prohibited unless you have received the express prior written permission from our authorized personnel or the otherwise applicable rights holder. Other than as expressly allowed herein or on the Site, you may not download, post, display, publish, copy, reproduce, distribute, transmit, modify, perform, broadcast, transfer, create derivative works from, sell or otherwise exploit any content, software, data, code, or materials on or available through the Site. You further agree that you may not alter, edit, delete, remove, otherwise change the meaning or appearance of, or repurpose, any of the content, software, data, code, or materials on or available through the Site, including, without limitation, the alteration or removal of any trademark, logo or service mark contained, or any other proprietary content or proprietary rights notices. You acknowledge that you do not acquire any ownership rights by downloading or otherwise using any copyrighted material from or through the Site. If you make other use of the Site, or the content, software, data, code, or materials thereon or available through the Site, except as otherwise provided above, you may violate copyright and other laws of the United States, other countries, as well as applicable state laws and may be subject to liability for such unauthorized use.

You warrant and agree that, while using the Site you shall not: (i) engage in spidering, screen scraping, database scraping, harvesting of e-mail addresses, wireless addresses, or other contact or personal information, or any other automatic means of obtaining lists of users or other information from or through the Site, including without limitation any information residing on any server or database connected to the Site; (ii) obtain or attempt to obtain unauthorized access to computer systems, materials, or information through any means; (iii) use the Site in any manner that could interrupt, damage, disable, overburden, or impair the Site, including, without limitation, sending mass unsolicited messages or “flooding” servers with requests; (iv) use the Site in violation of our or any third party’s intellectual property or other proprietary or legal rights; or (v) use the Site in violation of any applicable law. You further agree that you shall not attempt (or encourage or support anyone else’s attempt) to circumvent, reverse engineer, decrypt, or otherwise alter or interfere with the Site, or any content thereof, or make any unauthorized use thereof.

Third Party Websites.

The Site or content made available on the Site may include links to third party websites (each a “Linked Site”). You acknowledge and agree that we have no responsibility for the information, content, products, services, or other materials which may or may not be provided by or through any Linked Site. Links to Linked Sites do not constitute our endorsement or sponsorship of such Linked Site, or the information, content, products, services, or other materials presented on or through such Linked Sites. We cannot guarantee the standards of any Linked Site, nor shall we be held responsible for the contents of any Linked Site, and hereby disclaim any liability for links (i) to a Linked Site or (ii) from another website to the Site. We do not represent or warrant that the contents of any Linked Site are accurate, compliant with state or federal law, or compliant with copyright or other intellectual property laws. Any reliance on the contents of a Linked Site is done at your own risk and you assume all responsibilities and consequences resulting from such reliance.

Disclaimers.

THE SITE, INCLUDING, WITHOUT LIMITATION, ALL SERVICES, FEATURES, CONTENT, FUNCTIONS AND MATERIALS PROVIDED THROUGH THE SITE, ARE PROVIDED “AS IS,” “AS AVAILABLE,” WITHOUT WARRANTY OF ANY KIND, EITHER EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, ANY WARRANTY FOR INFORMATION, DATA, DATA PROCESSING SERVICES, UPTIME OR UNINTERRUPTED ACCESS, ANY WARRANTIES CONCERNING THE AVAILABILITY, PLAYABILITY, DISPLAYABILITY, ACCURACY, PRECISION, CORRECTNESS, THOROUGHNESS, COMPLETENESS, USEFULNESS, OR CONTENT OF INFORMATION, AND ANY WARRANTIES OF TITLE, NON-INFRINGEMENT, MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE, AND WE HEREBY DISCLAIM ANY AND ALL SUCH WARRANTIES, EXPRESS AND IMPLIED. WE DO NOT WARRANT THAT THE SITE, CONTENT, FUNCTIONS OR MATERIALS PROVIDED THROUGH THE SITE WILL BE TIMELY, SECURE, UNINTERRUPTED OR ERROR FREE, OR THAT DEFECTS WILL BE CORRECTED. WE MAKE NO WARRANTY THAT THE SITE WILL MEET USERS’ REQUIREMENTS. NO ADVICE, RESULTS OR INFORMATION, WHETHER ORAL OR WRITTEN, OBTAINED BY YOU FROM US OR THROUGH THE SITE SHALL CREATE ANY WARRANTY NOT EXPRESSLY MADE HEREIN. WE AND OUR AFFILIATES ALSO ASSUME NO RESPONSIBILITY, AND SHALL NOT BE LIABLE FOR, ANY DAMAGES TO, OR VIRUSES THAT MAY INFECT, YOUR EQUIPMENT ON ACCOUNT OF YOUR ACCESS TO, USE OF, OR BROWSING IN THE SITE OR YOUR DOWNLOADING OF ANY MATERIALS, DATA, TEXT, IMAGES, VIDEO CONTENT, OR AUDIO CONTENT FROM THE SITE. IF YOU ARE DISSATISFIED WITH THE SITE, YOUR SOLE REMEDY IS TO DISCONTINUE USING THE SITE.

WE TRY TO ENSURE THAT THE INFORMATION POSTED ON THE SITE IS CORRECT AND UP-TO-DATE. WE RESERVE THE RIGHT TO CHANGE OR MAKE CORRECTIONS TO ANY OF THE INFORMATION PROVIDED ON THE SITE AT ANY TIME AND WITHOUT ANY PRIOR WARNING. WE NEITHER ENDORSE NOR ARE RESPONSIBLE FOR THE ACCURACY OR RELIABILITY OF ANY OPINION, ADVICE OR STATEMENT ON THE SITE. IT IS YOUR RESPONSIBILITY TO EVALUATE THE ACCURACY, COMPLETENESS OR USEFULNESS OF ANY INFORMATION, OPINION, ADVICE OR OTHER CONTENT AVAILABLE THROUGH THE SITE. PLEASE SEEK THE ADVICE OF PROFESSIONALS, AS APPROPRIATE, REGARDING THE EVALUATION OF ANY SPECIFIC INFORMATION, OPINION, ADVICE OR OTHER CONTENT, INCLUDING BUT NOT LIMITED TO FINANCIAL INFORMATION, OPINION, ADVICE OR OTHER CONTENT.

This site is for information purposes only and is not intended to be relied upon as a forecast, research or investment advice. Nothing contained on the Site constitutes tax, accounting, regulatory, legal, insurance or investment advice. Neither the information, nor any opinion, contained on this Site constitutes a solicitation or offer to buy or sell any securities, futures, options or other financial instruments, nor shall any such security be offered or sold to any person in any jurisdiction in which such offer, solicitation, purchase, or sale would be unlawful under the securities laws of such jurisdiction. Decisions based on information contained on the Site are the sole responsibility of the USER AND WE SHALL HAVE NO LIABILITY FOR DECISIONS BASED UPON, OR THE RESULTS OBTAINED FROM, THE CONTENT PROVIDED ON THE SITE.

Limitations of Liability.

IN NO EVENT, INCLUDING BUT NOT LIMITED TO NEGLIGENCE, SHALL WE, OUR AFFILIATES, OR ANY OF OUR DIRECTORS, OFFICERS, EMPLOYEES, AGENTS OR CONTENT OR SERVICE PROVIDERS AND THOSE OF OUR AFFILIATES (COLLECTIVELY, THE “PROTECTED ENTITIES”) BE LIABLE FOR ANY CLAIMS, LIABILITIES, LOSSES, COSTS OR DAMAGES, INCLUDING DIRECT, INDIRECT, PUNITIVE, INCIDENTAL, SPECIAL OR CONSEQUENTIAL DAMAGES ARISING FROM, OR DIRECTLY OR INDIRECTLY RELATED TO, THE USE OF, OR THE INABILITY TO USE, THE SITE OR THE CONTENT, FEATURES, MATERIALS AND FUNCTIONS OBTAINED THROUGH THE SITE, YOUR PROVISION OF INFORMATION THROUGH THE SITE, LOST BUSINESS OR LOST SALES, EVEN IF SUCH PROTECTED ENTITY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. SOME JURISDICTIONS DO NOT ALLOW THE LIMITATION OR EXCLUSION OF LIABILITY FOR INCIDENTAL OR CONSEQUENTIAL DAMAGES SO SOME OF THE ABOVE LIMITATIONS MAY NOT APPLY TO CERTAIN USERS. IN NO EVENT SHALL THE TOTAL AGGREGATE LIABILITY OF THE PROTECTED ENTITIES TO YOU FOR ALL DAMAGES, LOSSES, AND CAUSES OF ACTION (WHETHER IN CONTRACT OR TORT, INCLUDING, BUT NOT LIMITED TO, NEGLIGENCE OR OTHERWISE) ARISING FROM THE TERMS AND CONDITIONS OR YOUR USE OF THE SITE EXCEED, IN THE AGGREGATE, THE AMOUNT, IF ANY, PAID BY YOU TO US FOR YOUR USE OF THE SITE.

Indemnity.

You agree to defend, indemnify and hold harmless the Protected Entities from any and all claims, liabilities, costs, and expenses, including attorneys’ fees, arising in any way from your use of the Site or any content on the Site, or from your breach or violation of the law or of these Terms of Use. We reserve the right, at our own expense, to assume the exclusive defense and control of any matter otherwise subject to indemnification by you, and in such case, you agree to cooperate with our defense of such claim.

Governing Law.

These Terms of Use and your use of the Site are governed by the laws of the State of New York without regard to conflict of law provisions. If you take legal action relating to these Terms of Use, you agree to file such action only in the New York State Supreme Court located in New York. NY, or the United States District Court for the Southern District of New York, and you consent and submit to the personal jurisdiction of those courts for the purpose of litigating any such action.

Termination.

We may terminate, change, suspend or discontinue any aspect of the Site at any time. We may restrict, suspend or terminate your access to the Site if we believe you are in breach of these Terms of Use or applicable law, or for any other reason or no reason without notice or liability to you.

Waiver.

Failure to insist on strict performance of any of these Terms of Use will not operate as a waiver of any subsequent default or failure of performance. No waiver of any right under these Terms of Use will be deemed to be either a waiver of any other right or provision or a waiver of that same right or provision at any other time.

Severability.

If any provision of these Terms of Use is held unenforceable by a court or tribunal of competent jurisdiction, that provision shall be enforced to the maximum extent permissible so as to effect the intent of the parties, and the remainder of these Terms of Use shall continue in full force and effect.

Entire Agreement.

These Terms of Use and the Privacy Policy represent the entire agreement between you and us with respect to your use of the Site and the content thereon, and it supersedes all prior or contemporaneous communications and proposals, whether electronic, oral, or written between you and us with respect thereto. Any rights not expressly granted herein are reserved.

These Terms of Use were last updated April 2025