Company: KW
Filing Date: 2025-05-09
Form Type: 424B3
Source: 0001408100-25-000117
Chunk: 64

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-05-09
Form: 424B3
Chunk 64
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.00 | % |     |      |  72.86 | % |
| Total                         |     |              | 100.00 | % |     |      | 100.00 | % |     |      | 100.00 | % |     |      | 100.00 | % |     |      | 100.00 | % |

#### Year to Date Highlights
During the three months ended March 31, 2025, we achieved the following:

• Originated $724.1 million ($18.1 million at our share) of new senior construction loans through our debt investment platform

• Generated total investment management fees of $25.0 million, an increase of 17% from the first quarter of 2024

• Continued to see strength in our stabilized multifamily portfolio which saw same-store occupancy grow by 0.6% to 94.6%, same-property revenue growth of 3.1%, and same-property NOI growth of 4.3%

For the three months ended March 31, 2025, we had net loss attributable to Kennedy-Wilson Holdings, Inc. common shareholders of $40.8 million as compared to a net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders of $26.9 million for the same period in 2024. These results include $37 million and $61 million of non-cash expenses for the three months ended March 31, 2025 and March 31, 2024, respectively, which primarily consist of depreciation and amortization and changes in fair value (gain of $0.7 million and loss of $14.5 million, respectively). For the three months ended March 31, 2025 we had Adjusted EBITDA of $98.2 million as compared to $203.2 million for the same period in 2024. The decrease in net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders for the three months ended March 31, 2025 as compared to the same period in 2024, was primarily due to (i) the sale of the Shelbourne hotel in first quarter of 2024 with comparatively reduced sales activity in the current period; (ii) the sale of an office building that is part of a larger office park in Issaquah, Washington; (iii) lower NOI from hotel operations due to the sale of the Shelbourne hotel in the prior period; and (iv) fair value losses on interest