Company: KW
Filing Date: 2025-08-08
Form Type: 424B3
Source: 0001408100-25-000150
Chunk: 97

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-08-08
Form: 424B3
Chunk 97
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4. The decrease in income tax benefit is primarily attributable to additional pre-tax book income in the current period as compared to the same period in 2024. Our effective tax rate for the three months ended June 30, 2025 was 44.0% as compared to an effective tax rate of 19.7% for the same period in 2024. Significant items impacting the quarterly tax provision include: tax charges associated with non-deductible executive compensation under IRC Section 162(m) and additional valuation allowance against the Company's deferred tax asset on the outside basis difference of its investment in KWE.

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#### Other Comprehensive (Loss) Income
The two major components that drive the change in other comprehensive loss are the change in foreign currency rates and the gain or loss of any associated foreign currency hedges. Please refer to the Currency Risk - Foreign Currencies section in Item 3 for a discussion of our risks relating to foreign currency and our hedging strategy. Below is a table that details the activity for the three months ended June 30, 2025 and 2024.

|                                                                                                         | (Dollars in millions) | Three Months Ended June 30, |  2025 |     |   |  2024 |
|:--------------------------------------------------------------------------------------------------------|:----------------------|:----------------------------|------:|:----|:--|------:|
| Net loss attributable to Kennedy-Wilson Holdings, Inc. common shareholders                              |                       | $                           |  -6.4 |     | $ | -59.1 |
| Unrealized foreign currency translation gains (losses), net of noncontrolling interests and tax         |                       |                             |  58.1 |     |   |  -2.9 |
| Amounts reclassified out of accumulated other comprehensive loss during the period                      |                       |                             |   3.0 |     |   |     — |
| Unrealized foreign currency derivative contract (losses) gains, net of noncontrolling interests and tax |                       |                             | -37.1 |     |   |   5.2 |
| Comprehensive income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders           |                       | $                           |  17.6 |     | $ | -56.8 |

The main currencies that we have exposure to are the euro and pound sterling. The table below represents the change in rates over the three months ended June 30,