Company: KW
Filing Date: 2025-11-07
Form Type: 424B3
Source: 0001408100-25-000180
Chunk: 71

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-11-07
Form: 424B3
Chunk 71
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 $      | -110.0 |     | $                    | -60.4 |     | $                      |  47.7 |     | $                          |   8.5 |     | $           | 4.6 |     | $                  | -109.6 |

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#### Kennedy-Wilson Holdings, Inc.

### Notes to Consolidated Financial Statements
<div align='center'>(Unaudited)</div>

#### NOTE 16 - SUBSEQUENT EVENTS
On September 18, 2025, the Company announced that it has entered into an Interest Purchase Agreement (the “Agreement”) with Toll Brothers, Inc., a Delaware corporation (“Toll”), to acquire Toll’s apartment development platform for approximately $347 million, subject to customary prorations and adjustments (the “Transaction”). The Company expects to close the Transaction with partners, pursuant to which the Company will earn customary fees. Upon closing of the Transaction, the Company and its partners will acquire (i) Toll’s ownership interests and certain contractual arrangements in a total of 18 properties (two of which are wholly owned by Toll), which includes 17 multifamily properties and one student housing property (collectively the “Property Portfolio”); and (ii) Toll’s current and future multifamily and student housing property development pipeline (the “Transaction Pipeline”). The Company currently expects its total investment in the Transaction to be approximately $90 million. The Transaction is subject to closing conditions and is currently expected to close in the fourth quarter of 2025. There can be no assurance that the Company and its partners will complete the Transaction in part or at all.

The Property Portfolio consists of a total of 5,056 units across fifteen completed assets and, when completed, an additional 1,008 units across three assets that have been capitalized with equity partner and debt financing and are currently under construction. Toll’s current aggregate equity ownership interest in the Property Portfolio is approximately 37% and the assets comprising the Property Portfolio are located throughout the United States. Upon acquisition of the Property Portfolio, the Company will earn development and construction management fees and carried interest opportunities under Toll’s existing partnership arrangements for certain of the assets that are held in joint ventures with various partners. The Transaction Pipeline currently consists of ownership interests in three land positions as well as a future development pipeline including 26 separate purchase agreements to acquire land positions and three late-stage pursuit properties throughout strategic markets in the United States. Upon closing the Transaction, the Company currently expects to own