Company: KW
Filing Date: 2025-11-07
Form Type: 424B3
Source: 0001408100-25-000180
Chunk: 129

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-11-07
Form: 424B3
Chunk 129
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 |     |                        |  -15.5 |     |                         |     — |
| Add: General and administrative                |     |                        |  10.2 |     |                         |     — |     |                        |   28.0 |     |                         |     — |
| Add: Depreciation and amortization             |     |                        |  36.9 |     |                         |   1.0 |     |                        |  112.2 |     |                         |   2.9 |
| Less: Fair value adjustments                   |     |                        |     — |     |                         |  10.4 |     |                        |      — |     |                         |  22.4 |
| Less: NCI adjustments                          |     |                        |  -2.0 |     |                         |     — |     |                        |   -6.1 |     |                         |     — |
| Net Operating Income                           |     | $                      |  56.8 |     | $                       |  49.1 |     | $                      |  175.4 |     | $                       | 139.8 |

(1) The Company’s joint ventures in its Co-Investment business segment predominantly acquire and hold and may ultimately dispose of operating properties which are presented by the Company as net gain or loss on disposition under ASC Topic 606, because the disposition is not considered an “output of the entity’s ordinary activities.” Certain joint ventures in the same business segment, however, dispose of non-operating properties (such as land and condominiums) from time-to-time, and such sales are an “output of the entity’s ordinary activities” under Topic 606. Accordingly the sale of such real estate is presented by the Company on a gross basis (sale of real estate and cost of real estate sold), and, therefore, the portion of the same that is not attributable to the Company’s ownership share is excluded from Co-Investment NOI.

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| 2023                                       |     | QTD                    
 Consolidated Portfolio |       |     | Co-Investment Portfolio |       |     | YTD                    
 Consolidated Portfolio |        |     | Co-Investment Portfolio |       |
|:-------------------------------------------|:----|:-----------------------|------:|:----|:------------------------|------:|:----|:-----------------------|-------:|:----|:------------------------|------:|
| Net loss