PSH-Annual-Report

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<strong>Annual</strong> <strong>Report</strong> Year Ended December 31, 2014Affirmation of the Commodity Pool OperatorTo the best of the knowledge and belief of the undersigned, the information contained in the auditedfinancial statements of Pershing Square Holdings, Ltd. for the year ended December 31, 2014 is accurateand complete./s/ Nicholas BottaBy: Nicholas BottaChief Financial OfficerPershing Square Capital Management, L.P.Commodity Pool OperatorPershing Square Holdings, Ltd.Commodity Pool76 PERSHING SQUARE HOLDINGS, LTD.
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2014 Annual Report
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Annual Report Year Ended December 3
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Page 73 and 74: Annual Report December 31, 2014U.S.
Page 77: Annual Report Year Ended December 3
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PSH-Annual-Report

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