Pershing Square Tontine Holdings, Ltd. ("PSTH") Confirms Discussions to Acquire 10% of the Ordinary Shares of Universal Music Group ("UMG") for Approximately $4 billion, Representing an Enterprise Value of €35 Billion

PSTH to Distribute the Acquired UMG Shares to PSTH Shareholders Later this Year PSTH to Remain a Publicly Traded Company with $1.5 billion of Cash After the Distribution of UMG Shares, and to Seek New Business Combination Partner Pershing Square C