Manama, Kingdom of Bahrain: GFH Bank B.S.C. (“GFH” or the “Bank”) announced its participation as a lead investor in the joint initial public offering of Pershing Square Inc., listed on the New York Stock Exchange under the symbol PS, and Pershing Square USA Limited, listed on the New York Stock Exchange under the symbol PSUS, a landmark dual listing on the New York Stock Exchange led by renowned investor Bill Ackman.

Founded by Bill Ackman in 2003, Pershing Square is one of the world’s leading investment management firms, with approximately $36 billion in assets under management, including $26 billion in fee-based assets under management, along with 98% of permanent capital and 100% of fee-related profits.

The company has achieved an outstanding track record, delivering a net annual compound return that has outperformed the S&P 500 by 550 basis points annually since its inception in January 2004. During the "Era of Permanent Capital" that began in 2018, the company outperformed the S&P 500 by 830 basis points annually, achieving a net cumulative return of 2,644% since inception, compared to 836% for the S&P 500. The company's portfolio includes high-quality, large-cap companies, including stakes in leading companies in the technology, consumer products, and financial services sectors.

Commenting on the occasion, Mr. Hisham Ahmed Alrayes, CEO and Board Member of GFH Bank , stated: “Our commitment as a lead investor in Pershing Square’s dual IPO reflects GFH’s strong belief in both the investment management company and the fund it manages. Bill Ackman has built one of the most outstanding long-term investment performance records in the industry, achieving compound capital growth rates that have significantly outperformed mainstream market indices for more than two decades. The permanent capital structure of this offering is a key element of our investment vision, enabling the company to adopt a long-term perspective and invest flexibly during periods of volatility. We look forward to building a long-term partnership with Pershing Square as we continue to expand GFH’s global investment platform in collaboration with world-class investment managers.”

For his part, Mr. Bill Ackman, founder and CEO of Pershing Square, said: “We are delighted to welcome GFH as a lead investor in our joint offering. GFH’s commitment reflects a shared belief in the power of permanent capital and focused, long-term investment. With permanent capital, Pershing Square has the ideal structure to execute our investment strategy, which is based on acquiring what we consider to be the best companies capable of delivering long-term compound annual growth in shareholder value and retaining it over the long term. We value partnerships with long-term, like-minded institutional investors like GFH and look forward to a long-term strategic relationship.”

About GFH Bank B.S.C.:

GFH Bank, licensed as a full-service Islamic bank by the Central Bank of Bahrain and headquartered at GFH Building, P.O. Box 10006, Waterfront – Manama, Kingdom of Bahrain, is one of the leading and most recognized banks in the GCC region. Its business activities encompass wealth management and investment, credit and financing, treasury, and private equity, with assets under management of approximately US$24 billion. The bank's investments are primarily concentrated in the GCC, the USA, and the UK. GFH Bank is listed on the Bahrain Bourse, the Abu Dhabi Securities Exchange, the Kuwait Stock Exchange, and the Dubai Financial Market. For more information, please visit www.gfh.com .

For further information and media inquiries, please contact:

Nawal Al-Naji

Senior Manager – Corporate Relations, GFH Bank
Email: nalnaji@gfh.com
Website: www.gfh.com

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