Company: KW
Filing Date: 2025-04-25
Form Type: DEF 14A
Source: 0000950170-25-058797
Chunk: 74

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-04-25
Form: DEF 14A
Chunk 74
---
 on December 31, 2019 and the reinvestment of all dividends. Following the discontinuation of the MSCI World Real Estate Index in 2023, this was the Company's closest comparative index and, commencing in 2024, was also utilized for our relative TSR RSUs. (6) For 2024, the Company-selected measure is Return on Invested Assets ("ROIA"), which replaced the non-TSR performance metric for our performance-based RSUs. Prior to 2024, the Company-selected measure was Return on Equity ("ROE"). Accordingly, we have illustrated our historical results under ROIA and ROE. Narrative Disclosure to Pay versus Performance Table We believe the performance measures set forth in the following table represent the most important financial performance measures used by us to link compensation actually paid to our NEOs for the fiscal year ended December 31, 2024:

Tabular List of Important Financial Measures

| Most Important Financial Measures for 2024                             |
| Recurring Cash Flow                                                    |
| Annual NOI Growth                                                      |
| Growth in Investment Management Fees                                   |
| Return on Invested Assets                                              |
| Relative TSR v. MSCI World Real Estate (GICS 1) Net Total Return Index |

For additional details regarding our most important financial performance measures, please see our Compensation Discussion and Analysis (CD&A) elsewhere in this Proxy Statement.

Kennedy Wilson/ Proxy Statement 2025 /55

#### COMPENSATION DISCUSSION AND ANALYSIS
Relationship between Compensation Actually Paid and Performance Metrics The following graphs further illustrate the alignment of compensation actually paid to our PEO and the average compensation actually paid to our other NEOs relative to (i) our ROIA, (ii) net income, (iii) our absolute and relative TSR versus the MSCI World Real Estate (GICS 1) Net Total Return Index, in each case, for the fiscal years ended December 31, 2020, 2021, 2022, 2023 and 2024:

56/Kennedy Wilson/ Proxy Statement 2025

PROPOSAL 2 Approval of the Third Amendment to the Company's Second Amended and Restated 2009 Equity Participation Plan Required Vote The affirmative vote of a majority of shares cast and present in person or represented by proxy at the meeting is required to approve the third amendment to the Company's Second Amended and Restated 2009 Equity Participation Plan.

| RecommendationTHE BOARD OF DIRECTORS UNANIMOUSLY RECOMMENDS A VOTE “