Company: KW
Filing Date: 2025-03-03
Form Type: 424B3
Source: 0001408100-25-000092
Chunk: 154

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-03-03
Form: 424B3
Chunk 154
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 Notes to Consolidated Financial Statements—(continued)

#### December 31, 2024 2023 and 2022

#### NOTE 6 - LOANS
The global debt platform consists of two groups: the Company's construction lending portfolio, which was established with the acquisition of the Construction Loan Portfolio from Pacific Western Bank in the second quarter of 2023 (as detailed below) and the Company's bridge loan portfolio.

During the year ended December 31, 2023, the Company and affiliates of Fairfax Financial Holdings Limited (collectively, "Fairfax"), its equity partner, acquired a $4.1 billion construction loan portfolio from Pacific Western Bank (the "Construction Loan Portfolio"). The Company’s investment in the Construction Loan Portfolio was 5% of the purchase price and the future funding obligations. The $4.1 billion represented the gross commitment amount for the Construction Loan Portfolio, which has been reduced to $3.7 billion as of December 31, 2023, due to loan repayments. The Construction Loan Portfolio has a current outstanding balance of $2.4 billion (Kennedy Wilson share of $118.9 million), not including the 4.5% discount on gross commitment amounts from the time of purchase. As of December 31, 2024, the Company had unfulfilled capital commitments totaling $123.4 million to our loan portfolio.

The Company had loan purchases and originations of $231.1 million and $247.2 million at December 31, 2024 and December 31, 2023, respectively. During the year ended December 31, 2024 and December 31, 2023, the Company had loan income of $31.2 million and $26.1 million, respectively. During the year ended December 31, 2024 and 2023, the Company recorded a $11.2 million and $7.0 million of credit loss reserve through other (loss) income. See Note 2 for more detail on CECL reserves.

#### NOTE 7—OTHER ASSETS
Other assets consist of the following:

|                                                                                                                        | (Dollars in millions) | December 31, |  2024 |     |   |  2023 |
|:-----------------------------------------------------------------------------------------------------------------------|:----------------------|:-------------|------:|:----|:--|------:|
| Straight line rent receivable                                                                                          |                       | $            |  40.5 |     | $ |