Company: KW
Filing Date: 2025-08-08
Form Type: 424B3
Source: 0001408100-25-000150
Chunk: 115

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-08-08
Form: 424B3
Chunk 115
---
#### Cash Flows
The following table summarizes the cash provided by or used in our operating, investing and financing activities for the six months ended June 30, 2025 and 2024.

<div align='center'>70</div>

|                                                     | (Dollars in millions) | Six Months Ended June 30, |   2025 |     |   |   2024 |
|:----------------------------------------------------|:----------------------|:--------------------------|-------:|:----|:--|-------:|
| Net cash (used in) provided by operating activities |                       | $                         |   -9.9 |     | $ |   31.1 |
| Net cash provided by investing activities           |                       |                           |  462.1 |     |   |  173.6 |
| Net cash used in financing activities               |                       |                           | -364.4 |     |   | -151.9 |

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 $9.9 million and cashflows provided by operating activities were $31.1 million for the six months ended June 30, 2025 and 2024, respectively. The six months ended June 30, 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 six months ended June 30, 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 provided by investing activities totaled $462.1 million for the six months ended June 30, 2025. We received $423.9 million from the sale and deconsolidation of a 90% interest in a wholly-owned multifamily asset in Northern California, two non-core office buildings in Ireland and non-core commercial assets in the United Kingdom. We received $167.3 million in investing distributions from our co-invest