Company: KW
Filing Date: 2025-11-07
Form Type: 424B3
Source: 0001408100-25-000180
Chunk: 78

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-11-07
Form: 424B3
Chunk 78
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 to the Company.

• Sold five (5) non-core assets consisting of: a wholly-owned, 88-unit multifamily property in the Mountain West, office assets in Ireland, Italy and the United Kingdom and residential lots in Hawaii for a combined total of $248 million. These dispositions generated $111.6 million of cash to KW and a gain on sale of $26.2 million.

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For the nine months ended September 30, 2025, we had net loss attributable to Kennedy-Wilson Holdings, Inc. common shareholders of $68.4 million as compared to $109.6 million for the same period in 2024. These results include $122.8 million and $180.6 million of non-cash expenses for the nine months ended September 30, 2025 and September 30, 2024, respectively, which primarily consist of depreciation and amortization and changes in fair value (depreciation and amortization of $101.2 million and 112.2 million, respectively, and fair value decreases of $2.6 million and 52.0 million, respectively). The increase in net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders for the nine months ended September 30, 2025 as compared to the same period in 2024, was primarily due to (i) $78.8 million positive changes in the Company’s income from unconsolidated investments as a result of lower fair value decreases in the current period, lower carried interests reversals on unconsolidated investments, higher gain on sales of non-fair value joint venture investments and an increase in investment management fees due to the growth of our investment management platform and were offset by a (i) the sale of the Shelbourne hotel in first quarter of 2024 and the sale of an office building that is part of a larger office park in Issaquah, Washington which led to higher gains on sales than the sales activity in the current period as discussed above; (ii) lower NOI from hotel operations due to the sale of the Shelbourne hotel in the prior period and (iii) lower interest income on certain newly originated loans in our debt investment business that we own less. For the nine months ended September 30, 2025 we had Adjusted EBITDA of $370.5 million as compared to $348.9 million for the same period in 2024.

Recently announced tariffs in the United States have contributed to