Company: KW
Filing Date: 2025-03-03
Form Type: 424B3
Source: 0001408100-25-000092
Chunk: 149

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-03-03
Form: 424B3
Chunk 149
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 the property.

The Company also utilizes valuations from independent real estate appraisal firms on some of its investments ("appraised valuations"), with certain investment structures requiring appraised valuations periodically (typically annually). All appraised valuations are reviewed and approved by the Company.

The Company has an investment in a Zonda, a technology based real estate business that offers residential construction data that is accounted for at fair value which is valued at the Company's share of the business using a multiple on trailing twelve months EBITDA.

The table below describes the range of inputs used as of December 31, 2024 for real estate assets:

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#### Kennedy-Wilson Holdings, Inc.

### Notes to Consolidated Financial Statements—(continued)

#### December 31, 2024 2023 and 2022
|                                      |     |                                         |     | Estimated Rates Used For |     |                 |
|                                      |     |                                         |     | Capitalization Rates     |     | Discount Rates  |
| Multifamily - Affordable             |     | Income approach - discounted cash flow  |     | 6.30% — 7.20%            |     | 8.30% — 9.20%   |
| Multifamily - Affordable GP interest |     | Income approach - discounted cash flow  |     | N/A                      |     | 16.00% — 19.50% |
| Multifamily - Market Rate            |     | Income approach - direct capitalization |     | 4.60% — 6.50%            |     | N/A             |
| Office                               |     | Income approach - discounted cash flow  |     | 5.20% — 7.50%            |     | 7.30% — 9.30%   |
|                                      |     | Income approach - direct capitalization |     | 5.30% — 10.30%           |     | N/A             |
| Industrial                           |     | Income approach - discounted cash flow  |     | 5.00% —6.30%             |     | 6.30% — 7.80%   |
|                                      |     | Income approach - direct capitalization |     | 4.00% — 8.90%            |     | N/A             |
| Hotel                                |     | Income approach - discounted cash flow  |     | 6.00%                    |