Exhibit 99.3

UNAUDITED PRO FORMA CONDENSED COMBINED FINANCIAL INFORMATION

On June 4, 2026, Howard Hughes Holdings Inc. (the “Company” or “HHH”) completed its previously announced acquisition of all of the issued and outstanding shares of capital stock of Vantage Group Holdings, Ltd., a Bermuda exempted company with liability limited by shares (“Vantage”) for $2.1 billion (the “Acquisition”). The Acquisition was completed pursuant to a Purchase and Sale Agreement entered into on December 17, 2025. In connection with the closing of the Acquisition, the Company also issued $1.0 billion of its non-interest-bearing preferred stock to Pershing Square Holdings, Ltd. (the “Preferred Stock Issuance”, and together with the Acquisition, the “Transactions”).

The unaudited pro forma condensed combined financial information has been prepared in accordance with Article 11 of Regulation S-X as amended and should be read in conjunction with the accompanying notes to the unaudited pro forma condensed combined financial statements.

The unaudited pro forma condensed combined financial information has been derived from:

The unaudited pro forma condensed combined financial information gives effect to the Transactions as if they had occurred (i) as of March 31, 2026 for purposes of the unaudited pro forma condensed combined balance sheet, and (ii) as of January 1, 2025 for purposes of the unaudited pro forma condensed combined statements of operations for the year ended December 31, 2025 and the three months ended March 31, 2026.

Pro forma adjustments for the Transactions were made primarily to reflect:

The Acquisition will be accounted for using the acquisition method of accounting. The pro forma information presented, including the allocation of the purchase price, is based on preliminary estimates of the fair values of the assets acquired and liabilities assumed, available information as of the date of this Form 8-K/A Filing and our assumptions. The final purchase price allocation is dependent on, among other things, the finalization of the preliminary asset and liability valuations. The actual adjustments to the combined financial statements upon the closing of the Acquisition will depend on a number of factors, including additional information available and the actual balance of our net assets on the closing date. Therefore, the actual adjustments will differ from the pro forma adjustments, and the differences may be material. Any final adjustments will change the allocation of the purchase price, which could affect the fair value assigned to the assets and liabilities and could result in a change to the unaudited pro forma condensed combined financial data, including a change to goodwill.

HOWARD HUGHES HOLDINGS INC.

Unaudited Pro Forma Condensed Combined Balance Sheet

As of March 31, 2026
(in thousands)

HOWARD HUGHES HOLDINGS INC.

Unaudited Pro Forma Condensed Combined Statement of Operations

For the Three Months Ended March 31, 2026

(in thousands)

HOWARD HUGHES HOLDINGS INC.

Unaudited Pro Forma Condensed Combined Statement of Operations

For the Year Ended December 31, 2025

(in thousands)

Notes to Unaudited Pro Forma Condensed Combined Balance Sheet
(in thousands)

In connection with the acquisition, the Company issued $1.0 billion of redeemable preferred stock, which has been reflected in temporary equity in the accompanying unaudited pro forma condensed combined balance sheet. The Company incurred $4.2 million of costs related to the issuance of the redeemable preferred stock, which are reflected as a reduction of the gross proceeds in temporary equity in the unaudited pro forma condensed combined balance sheet. The redeemable preferred stock is non-interest bearing, non-voting, other than customary protective provisions, ranks pari passu with the Company's common stock with respect to payment rights and liquidation, and is entitled to dividends only if declared by the majority of disinterested directors of the Board.

The preliminary purchase price allocation is as follows:

Upon completion of the fair value assessment after the Acquisition, it is anticipated that the ultimate purchase price allocation will differ from the preliminary assessment outlined above. Any changes to the initial estimates of the fair value of the acquired assets and assumed liabilities will be recorded as adjustments to those assets and liabilities and residual amounts will be allocated to goodwill.

The fair value assigned to the identifiable intangible assets has been estimated based on a preliminary analysis as of March 31, 2026. The final purchase price allocation will be based on certain valuation and other studies that have yet to progress to a stage where there is sufficient information for a definitive measurement. The final valuation may result in a materially different allocation for intangible assets than that presented in this unaudited pro forma condensed combined balance sheet. Any change in the amount of the final purchase price allocated to amortizable, finite-lived intangible assets could materially affect the amount of amortization expense.

Notes to Unaudited Pro Forma Condensed Combined Statement of Operations

(in thousands)

A summary of the effects of the adjustments to amortization expense included in depreciation & amortization is as follows:

The following table sets forth the computation of pro forma basic and diluted EPS (in thousands, except per share data):

Reclassification Adjustments

Vantage Unaudited Reclassified Condensed Balance Sheet

As of March 31, 2026

(in thousands)

NOTES:

(a) This represents the reclassification of Vantage’s historical “Fixed maturity securities available for sale, at fair value” and “Fixed maturity security held to maturity, at amortized cost” amounts to “Investment in fixed maturity securities”, which will represent a new financial statement line item in HHH’s financial statements upon close of the Acquisition.

(b) Vantage’s historical “Premiums receivable” amount will be presented in “Accounts receivable, net” to conform to HHH’s historical presentation.

(c) “Reinsurance recoverable on paid and unpaid losses”, “Reserves for claims and claim expenses”, and “Unearned premiums” represent insurance specific financial statement line items that are historically presented on Vantage’s financial statements and will represent new financial statement line items in HHH’s financial statements upon close of the Acquisition.

(d) Vantage’s historical “Deferred acquisition costs” amount will be presented in “Deferred expenses, net” to conform to HHH’s historical presentation.

(e) This represents the reclassification of Vantage’s historical presentation of Intangible assets recorded within “Other assets” amount to “Intangibles, net”, which will represent a new financial statement line item in HHH’s financial statements upon close of the Acquisition.

(f) This represents the reclassification of Vantage’s historical “Accrued investment income”, “Prepaid reinsurance premiums”, “Fee income receivable”, and “Funds held by third parties” amounts to “Other assets” to conform to HHH’s historical presentation.

(g) This represents the reclassification of Vantage’s historical fixed assets within “Other assets, net” to “Buildings and equipment” to conform to HHH’s historical presentation.

(h) This represents the reclassification of Vantage’s historical “Reinsurance balances payable” and “Other liabilities” amounts to “Other liabilities, net”, which will represent a new financial statement line item in HHH’s financial statements upon close of the Acquisition.

(i) This represents the relabeling of Vantage’s historical “Total Vantage Group Holdings Ltd. shareholders’ equity” financial statement line item to “Total stockholders’ equity” to conform to HHH’s historical presentation.

Vantage Unaudited Reclassified Condensed Statement of Operations

For the Three Months Ended March 31, 2026
(in thousands)

NOTES:

(a) This represents the reclassification of Vantage’s historical “Net realized losses on investments” to “Investment gain (loss), net” which will represent a new financial statement line item in HHH’s financial statements upon close of the Acquisition.

(b) Vantage’s historical “Fee and other income” will be presented in “Other revenue” and “Other income (loss), net” to conform to HHH’s historical presentation.

(c) This represents the reclassification of Vantage’s historical depreciation & amortization recorded within “General & administrative expenses” to “Depreciation & amortization” to conform to HHH’s historical presentation.

(d) This represents the reclassification of Vantage’s historical general and administrative expenses (excluding stock-based compensation expense) from “General and Administrative” to “Insurance underwriting expenses”.

Vantage Unaudited Reclassified Condensed Statement of Operations

For the Year Ended December 31, 2025
(in thousands)

NOTES:

(a) This represents the reclassification of Vantage’s historical “Net realized losses on investments” to “Investment gain (loss), net” which will represent a new financial statement line item in HHH’s financial statements upon close of the Acquisition.

(b) Vantage’s historical “Fee and other income” will be presented in “Other revenue” and “Other income (loss), net” to conform to HHH’s historical presentation.

(c) This represents the reclassification of Vantage’s historical depreciation & amortization recorded within “General & administrative expenses” to “Depreciation & amortization” to conform to HHH’s historical presentation.

(d) This represents the reclassification of Vantage’s historical general and administrative expenses (excluding stock-based compensation expense) from “General and Administrative” to “Insurance underwriting expenses”.