Company: KW
Filing Date: 2025-03-03
Form Type: 424B3
Source: 0001408100-25-000092
Chunk: 176

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-03-03
Form: 424B3
Chunk 176
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 is earnings before interest, taxes, depreciation and amortization, which is further adjusted to add back non-cash share based compensation ("Adjusted EBITDA"). The Company has included a reconciliation of Adjusted EBITDA to net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders in the tables below.

No single third-party client accounted for 10% or more of the Company's revenue during any period presented in these financial statements.

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#### Kennedy-Wilson Holdings, Inc.

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

#### December 31, 2024 2023 and 2022

#### Consolidated Portfolio
Consolidated Portfolio is a permanent capital vehicle focused on maximizing property cash flow. These assets are primarily wholly-owned and tend to have longer hold periods and the Company targets investments with accretive asset management opportunities. The Company typically focuses on multifamily and office assets in the Western United States and office assets in the United Kingdom and Ireland within this segment.

#### Co-Investment Portfolio
Co-Investment Portfolio consists of the co-investments in real estate and real estate-related assets, including loans secured by real estate, that the Company has made through the commingled funds and joint ventures that it manages. The Company utilizes different platforms in the Co-Investment Portfolio segment depending on the asset and risk return profiles.

In addition, the Company manages real estate assets and loans for the Company's equity partner. In the Company's capacity as manager it earns fees (including, without limitation, asset management fees, construction management fees, and/or acquisition and disposition fees) and carried interests.

The following tables summarize the income and expense activity by segment for the years ended December 31, 2024, 2023 and 2022 and total assets as of December 31, 2024 and 2023.

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#### Kennedy-Wilson Holdings, Inc.

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

#### December 31, 2024 2023 and 2022
|                                                                                                                           |     | Year Ended December 31, 2024 |       |     |                |       |     |       |        |
|:--------------------------------------------------------------------------------------------------------------------------|:----|:-----------------------------|------:|:----|:---------------|------:|:----|:------|-------:|
| (Dollars in millions)                                                                                                     |     | Consolidated                 |       |     | Co