Company: KW
Filing Date: 2025-03-03
Form Type: 424B3
Source: 0001408100-25-000092
Chunk: 86

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-03-03
Form: 424B3
Chunk 86
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2024, (i) of the 75 investments in the Company’s co-investment portfolio, 11 of such investments are a part of the Carried Interests Sharing Program; (ii) the Company’s total accrued carried interests in its financial statements is $27.6 million, of which $7.1 million was accrued as carried interests compensation expense as part of the Carried Interests Program. During the years ended December 31, 2024, 2023 and 2022, the Company recognized a reversal of $16.6 million, $15.1 million and $4.3 million respectively of previously recognized expenses, related to this program.

The Company also maintains a global employee co-investment program (the “Co-Investment Program”). The named executive officers are not participants of the Co-Investment Program. Under the Co-Investment Program, certain employees are provided the opportunity to invest alongside the Company in its investments (in all future investments and certain recently acquired transactions). The amount of funds that the employees, as a group, can invest in the Company’s investments is capped at 1.5% of the Company’s equity. Generally (with certain exceptions), participants in the Co-Investment Program will make commitments to the program on an annual basis and invest in every investment made by the Company (investments that such employee has an active role in acquiring and managing) in the applicable year.

#### Cash Flows
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The following table summarizes the cash provided by or used in our operating, investing and financing activities for the years ended December 31, 2024 and 2023:

|                                                     | (Dollars in millions) | Year ended December 31, |   2024 |     |   |   2023 |
|:----------------------------------------------------|:----------------------|:------------------------|-------:|:----|:--|-------:|
| Net cash provided by operating activities           |                       | $                       |   55.1 |     | $ |   48.9 |
| Net cash provided by (used in) investing activities |                       |                         |  414.2 |     |   |  -11.7 |
| Net cash (used in) provided by financing activities |                       |                         | -565.5 |     |   | -164.8 |

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,