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I am either (a) a shareholder in or beneficial holder, or a bond holder, of a Pershing Square Entity (as defined below) or (b) a non- U.S. person (as defined in Regulation S under the U.S. Securities Act of 1933, as amended) outside the United States or (c) an analyst located outside the United States associated with a brokerage or another firm that does not issue research over a Pershing Square Entity targeted at the United States or (d) joining this call on personalized invitation.
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If I am located in the UK and am not a shareholder or beneficial holder in a Pershing Square Entity, I am an investment professional or high net worth entity or other person to whom the investor update call can be lawfully made available under section 21 of the UK Financial Services and Markets Act 2000.
Any information provided on the investor update call is for information purposes only and is not intended to constitute an offer or solicitation of an offer to purchase or sell, or any invitation or inducement to acquire, any securities or investment product in any jurisdiction.
No information or opinions conveyed during the investor update call will constitute investment advice or create any warranty.
All analyses and conclusions discussed on the investor update call are based on publicly available information and analyses developed by Pershing Square Capital Management, L.P. Information presented on the call relates to recent or current portfolio positions of the Pershing Square Entities. The Pershing Square Entities may currently or in the future, in whole or in part, buy, sell, cover or otherwise change the form of their investment in the companies discussed on the investor update call for any reason. Pershing Square Capital Management, L.P. hereby disclaims any duty to provide any updates or changes to the information discussed on the call including, without limitation, the manner or type of any investment.
Pershing Square Capital Management, L.P. receives fees for acting as manager of the Pershing Square Entities and, accordingly, the views and opinions expressed by members of Pershing Square Capital Management, L.P. should not be considered as independent.
The information provided on the investor update call is subject to change without notice.
The investor update call may include forward-looking statements. These forward-looking statements can be identified by reference to words such as “believe”, “expect”, “potential”, “continue”, “may”, “will”, “should”, “seek”, “approximately”, “predict”, “intend”, “plan”, “estimate”, “anticipate” or other comparable words. Important factors could cause actual outcomes or results to differ materially from such statements. Neither Pershing Square Capital Management, L.P. nor any Pershing Square Entity or any of their respective affiliates undertake any obligation to update or review any forward-looking statements, except as required by applicable law or regulation.
Past performance cannot be relied on as a guide to future performance. All investments involve risk including the loss of principal. It should not be assumed that investments made in the future will be profitable or will equal the performance of the securities listed herein.