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Howard Hughes Extends Standstill Agreement with Pershing Square

1. HHH extends standstill agreement with Pershing Square to April 7, 2025. 2. Discussions with Pershing Square may or may not lead to specific outcomes. 3. Morgan Stanley and legal firms are advising HHH during this period. 4. HHH owns significant real estate assets across multiple U.S. cities. 5. Focus on market demand positions HHH as a strong real estate player.

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FAQ

Why Bullish?

The extension may boost investor confidence in HHH, similar to past agreements benefiting stock prices.

How important is it?

The situation with Pershing Square could significantly influence investor sentiment and stock prices.

Why Short Term?

The market will likely react quickly to developments regarding the standstill and investor discussions.

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PSHQSPACOHI
March 12, 2025 16:05 ET  | Source: Howard Hughes Holdings Inc. THE WOODLANDS, Texas, March 12, 2025 (GLOBE NEWSWIRE) -- Howard Hughes Holdings Inc. (NYSE: HHH) (the “Company” or “HHH”) today announced an extension to the previously announced standstill agreement with Pershing Square Capital Management L.P. (“Pershing Square”). The standstill agreement will now remain in effect until April 7, 2025, unless further extended. There can be no assurance that discussions with Pershing Square will result in any particular outcome, and HHH does not intend to comment further on these matters until HHH determines that additional disclosure is appropriate or required by law. Morgan Stanley & Co. LLC is acting as financial advisor to the Special Committee of the Board of Directors, and Hogan Lovells US LLP and Richards, Layton & Finger, P.A. are acting as legal counsel. About Howard Hughes Holdings Inc. Howard Hughes Holdings Inc. owns, manages, and develops commercial, residential, and mixed-use real estate throughout the U.S. Its award-winning assets include the country’s preeminent portfolio of master planned communities, as well as operating properties and development opportunities including Downtown Columbia® in Maryland; The Woodlands®, Bridgeland® and The Woodlands Hills® in the Greater Houston, Texas area; Summerlin® in Las Vegas; Ward Village® in Honolulu, Hawaiʻi; and Teravalis™ in the Greater Phoenix, Arizona area. The Howard Hughes portfolio is strategically positioned to meet and accelerate development based on market demand, resulting in one of the strongest real estate platforms in the country. Dedicated to innovative placemaking, the company is recognized for its ongoing commitment to design excellence and to the cultural life of its communities. Howard Hughes Holdings Inc. is traded on the New York Stock Exchange as HHH. For additional information visit www.howardhughes.com. Safe Harbor Statement Statements made in this press release that are not historical facts, including statements accompanied by words such as “will,” “believe,” “expect,” “enables,” “realize,” “plan,” “intend,” “assume,” “transform” and other words of similar expression, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management’s expectations, estimates, assumptions, and projections as of the date of this release and are not guarantees of future performance. Actual results may differ materially from those expressed or implied in these statements. Factors that could cause actual results to differ materially are set forth as risk factors in Howard Hughes Holdings Inc.’s filings with the Securities and Exchange Commission, including its Quarterly and Annual Reports. Howard Hughes Holdings Inc. cautions you not to place undue reliance on the forward-looking statements contained in this release. Howard Hughes Holdings Inc. does not undertake any obligation to publicly update or revise any forward-looking statements to reflect future events, information or circumstances that arise after the date of this release. Contacts: Media RelationsAndrew Siegel / Lyle Weston  Joele Frank212-355-4449 Investor RelationsEric Holcomb, 281-475-2144Senior Vice President, Investor Relationseric.holcomb@howardhughes.com

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