Exhibit (s)

CALCULATION OF FILING FEE TABLES

Form N-2

(Form Type)

Pershing Square USA, Ltd.

(Exact Name of Registrant as Specified in its Charter)

Table 1: Newly Registered and Carry Forward Securities

Security Type

Security Class Title

Fee Calculation or Carry Forward Rule

Amount Registered

Proposed Maximum Offering Price Per Unit

Maximum Aggregate Offering Price(1)

Fee Rate

Amount of Registration Fee

Carry Forward Form Type

Carry Forward
File Number

Carry Forward Initial Effective Date

Filing Fee Previously Paid in Connection with Unsold Securities to be Carried Forward

Newly Registered Securities

Fees to be Paid

Equity

Common Shares of Beneficial Interest, no par value per share

Rule 457(o)

—

$8,279,000,000.00

0.00013810

$1,143,329.90

Fees Previously Paid

Equity

Common Shares of Beneficial Interest, no par value per share

Rule 457(o)

—

$1,000,000

$138.10

Total Offering Amounts

$8,280,000,000.00

$1,143,468.00

Total Fees Previously Paid

138.10

Total Fee Offsets

$339,332.40

Net Fee Due

$803,997.50


(1)	Estimated solely for the purpose of calculating the registration fee in accordance with Rule 457(o) under the Securities Act of 1933, as amended. Includes any Common Shares acquired by the underwriters in connection with the exercise of their option to purchase additional Common Shares, as described in the prospectus of the registrant included in this registration statement.

Table 2: Fee Offset Claims and Sources


	Registrant or Filer Name	Form or Filing Type	File Number	Initial Filing Date	Filing Date	Fee Offset Claimed	Security Type Associated with Fee Offset Claimed	Security Title Associated with Fee Offset Claimed	Unsold Securities with Fee Offset Claimed	Unsold Aggregate Offering Amount Associated with Fee Offset Claimed(1)	Fee Paid with Fee Offset Source
Rule 457(p)
Fee Offset Claims	Pershing Square USA, Ltd.	N-2	333-276926	February 7, 2024		$339,332.40	Equity	Common Shares of Beneficial Interest, no par value per share		$2,299,000,000
Fee Offset Sources	Pershing Square USA, Ltd.	N-2	333-276926		July 30, 2024		Equity	Common Shares of Beneficial Interest, no par value per share			$339,332.40

(1)

A filing fee of $147.60 was previously paid in connection with the initial filing of the registration statement on Form N-2 (File Nos. 333-276926 and 811-23932) (the “Prior Registration Statement”) by the registrant on February 7, 2024 (of which the registranat claimed $138.10 in fee offsets in accordance with Rule 547(p) in its original filing of this registration statement on March 10, 2026, which is marked as fees previously paid in Table 1 above) and a filing fee of $339,332.40 was previously paid in connection with Pre-Effective Amendment No. 5 to the Prior Registration Statement, for aggregate filing fees paid under the Prior Registration Statement of $339,480.00. The registrant withdrew the Prior Registration Statement by filing a Form RW on August 1, 2024. As the Prior Registration Statement was not declared effective, no securities were sold thereunder. In accordance with Rule 457(p) of the Securities Act the registrant is hereby offsetting in full the $339,332.40 of fees paid in connection with Pre-Effective Amendment No. 5 to the Prior Registration Statement to a portion of the fees presently due under this registration statement.