Company: KW
Filing Date: 2025-05-09
Form Type: 424B3
Source: 0001408100-25-000117
Chunk: 95

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-05-09
Form: 424B3
Chunk 95
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 summarizes the cash provided by or used in our operating, investing and financing activities for the three months ended March 31, 2025 and 2024.

|                                                     | (Dollars in millions) | Three Months Ended March 31, |  2025 |     |   |  2024 |
|:----------------------------------------------------|:----------------------|:-----------------------------|------:|:----|:--|------:|
| Net cash provided by operating activities           |                       | $                            | -51.9 |     | $ |  -5.6 |
| Net cash (used in) provided by investing activities |                       |                              | -22.9 |     |   | 244.8 |
| Net cash provided by (used in) financing activities |                       |                              | 218.8 |     |   |  -9.8 |

Operating

Our cash flows from operating activities are primarily dependent upon operations from consolidated properties, the operating distributions and fees from our Co-Investment Platform, general and administrative costs, compensation and interest expense payments. Net cash flows used in operating activities totaled $51.9 million and $5.6 million for the three months ended March 31, 2025 and 2024, respectively. The three months ended March 31, 2025 cash flows used in operations were primarily due to the payment of discretionary compensation and interest payments. The increase in cash used in operations as compared to the prior period is due to the receipt of restricted cash amounts relating to escrow amounts in the Construction Loan Portfolio during the three months ended March 31, 2024 as we took servicing of the debt platform in house.

Investing

Our cash flows from investing activities are generally comprised of cash used to fund property acquisitions, investments in co-investments, capital expenditures, purchases and originations of loans secured by real estate, as well as cash received from property sales and sales from our co-investments. Net cash used in investing activities totaled $22.9 million for the three months ended March 31, 2025. We received $13.1 million from the sale of a non-core commercial asset in the United Kingdom. We received $6.4 million in investing distributions from our co-investments primarily from redemption of our interests in hedge funds. Loan draws and our share of new loans issued as part of our Construction Loan and bridge credit platform totaled $9.1 million. We received $24.1 million of proceeds from repayments on loans