Company: KW
Filing Date: 2025-05-09
Form Type: 424B3
Source: 0001408100-25-000117
Chunk: 24

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-05-09
Form: 424B3
Chunk 24
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 is offset with an impairment loss of $3.1 million relating to the expected sale of non-core Italian office assets that the Company has received an offer to sell.

During the three months ended March 31, 2024, Kennedy Wilson recognized gains on sale of real estate, net of $106.4 million. These gains were primarily due to (i) the Company's sale of the Shelbourne hotel located in Dublin, Ireland, resulting in a gain of $99.1 million; (ii) the sale of a building that is a part of a larger office park resulting in a gain of $21.6 million; and (iii) the remainder of gain on sale of real estate relates to the sale of non-core retail in the United Kingdom. The gain on sale of real estate, net includes an impairment loss of $14.3 million relating to non-core office and retail buildings in the United Kingdom and Spain that were marketed for sale during such period.

Leases

The Company leases its operating properties to customers under agreements that are classified as operating leases. The total minimum lease payments provided for under the leases are recognized on a straight-line basis over the lease term unless circumstances indicate revenue should be recognized on a cash basis. The majority of the Company's rental expenses, including common area maintenance and real estate taxes and insurance on commercial properties, are recovered from the Company's

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#### Kennedy-Wilson Holdings, Inc.

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

tenants. The Company records amounts reimbursed by customers in the period that the applicable expenses are incurred, which is generally ratably throughout the term of the lease. The reimbursements are recognized in rental income in the consolidated statements of operations as the Company is the primary obligor with respect to purchasing and selecting goods and services from third-party vendors and bearing the associated credit risk.

The following table summarizes the minimum lease payments due from the Company's customers on leases with lease periods greater than one year at March 31, 2025:

| (Dollars in millions) |     | Minimum            
 Rental Revenues(1) |       |
|:----------------------|:----|:-------------------|------:|
| 2025 (remainder)      |     | $                  | 114.0 |
| 2026                  |     |                    | 107.5 |
| 2027                  |     |                    |  95.4 |
|