C.L. King Co-Manages Pershing Square USA and Pershing Square Inc. Combined Initial Public Offering

C.L. King participated as Co-Manager in the combined initial public offering of Pershing Square USA, Ltd. and Pershing Square Inc. The offering of 40,516,960 common shares of Pershing Square USA raised $2.03B and priced at $50.00 per share. As part of the combined offering, each initial investor in the Pershing Square USA IPO received, for no additional consideration, 1 share of Pershing Square Inc. common stock for every 5 shares of Pershing Square USA purchased. The stocks are listed on NYSE under the tickers PSUS and PS, respectively.