Company: KW
Filing Date: 2025-08-08
Form Type: 424B3
Source: 0001408100-25-000150
Chunk: 102

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-08-08
Form: 424B3
Chunk 102
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 were marketed for sale during such period.

Rental expenses decreased slightly to $73.5 million for the six months ended June 30, 2025 as compared to $74.2 million for the six months ended June 30, 2024. Similar to rental income decreases from properties that had been sold or deconsolidated offset by development properties that have been stabilized.

Hotel expenses was $7.6 million for the six months ended June 30, 2024 with no comparable activity in the current period due to the sale of the Shelbourne hotel in the first quarter of 2024.

Compensation expense was $14.5 million for the six months ended June 30, 2025 as compared to $17.5 million for the six months ended June 30, 2024 due to lower discretionary and deferred compensation accruals in the current period.

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General and administrative expenses were essentially flat at $6.9 million for the six months ended June 30, 2025 as compared to $7.1 million for the six months ended June 30, 2024.

Other loss was $1.9 million for the six months ended June 30, 2025 as compared to other income of $3.0 million for the six months ended June 30, 2024. We had mark to market fair value decreases of $2.0 million on the Company's undesignated interest rate caps and swap contracts for the six months ended June 30, 2025 as compared to $5.1 million increases in the prior period. The six months ended June 30, 2025 also had a $0.4 million gain on sale of some furniture and fixtures.

The following items are not in Segment Adjusted EBITDA above for Consolidated portfolio but are in net loss attributable to Kennedy-Wilson Holdings, Inc. common shareholders:

Depreciation and amortization decreased to $68.6 million during the six months ended June 30, 2025 as compared to $75.3 million for the six months ended June 30, 2024 as a result of the Company being a net seller of assets over the last year.

Interest expense was $74.2 million during the six months ended June 30, 2025 as compared to $79.3 million for the six months ended June 30, 2024. The decrease is primarily due to decreases in consolidated mortgage balance over 2024