Company: KW
Filing Date: 2025-11-07
Form Type: 424B3
Source: 0001408100-25-000180
Chunk: 37

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-11-07
Form: 424B3
Chunk 37
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99.1 |     |      |  -164.2 |
| Contributions                  |     |      |                             13.6 |     |      |    17.7 |     |      |                            78.0 |     |      |    76.7 |
| Distributions                  |     |      |                           -155.6 |     |      |   -28.9 |     |      |                          -339.1 |     |      |   -55.4 |
| Foreign exchange               |     |      |                             -3.9 |     |      |    22.9 |     |      |                            73.7 |     |      |    13.3 |
| Other                          |     |      |                             -0.4 |     |      |     4.0 |     |      |                            -0.4 |     |      |     3.3 |
| Ending balance                 |     | $    |                          1,697.7 |     | $    | 1,905.5 |     | $    |                         1,697.7 |     | $    | 1,905.5 |

Unobservable Inputs for Real Estate

The Company accounts for a number of unconsolidated investments under fair value, the accuracy of estimating fair value cannot be determined with precision and cannot be substantiated by comparison to quoted prices in active markets and may not be realized in a current sale or immediate settlement of the asset or liability. Recently, there has also been a lack of liquidity in the capital markets as well as limited transactions which has had impact on the inputs associated with fair values. Additionally, there are inherent uncertainties in any fair value measurement technique, and changes in the underlying assumptions used, including market-derived estimated capitalization rates, discount rates, liquidity risks, and estimates of future cash flows could significantly affect the fair value measurement amounts. All valuations of real estate involve subjective judgments.

Ongoing macroeconomic conditions, such as, but not limited to, uncertainty and volatility of debt and equity markets driven by changing tariff policies, elevated levels of inflation and interest rates, banks', and other financial institutions', ability and willingness to lend, and the ongoing military conflicts around the world, continue to fuel recessionary fears and create volatility in our business results and operations. Any prolonged downturn in the financial markets or a recession, either globally or locally in the United States or in other countries in which we conduct business, could impact the fair value of