Company: KW
Filing Date: 2025-08-08
Form Type: 424B3
Source: 0001408100-25-000150
Chunk: 111

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-08-08
Form: 424B3
Chunk 111
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 not within our control. Accordingly, the projects identified may not be completed when expected, or at all.

(2) Figures shown in this column are an estimate of KW's remaining costs to develop to completion or to complete the entitlement process, as applicable, as of June 30, 2025. Total remaining costs may be financed with third-party cash contributions, proceeds from projected sales, and/or debt financing. These figures are budgeted costs and are subject to change. There is no guarantee that the Company will be able to secure the project-level debt financing that is assumed in the figures above. If the Company is unable to secure such financing, the amount of capital that the Company will have to invest to complete the projects above may significantly increase. KW cost to complete differs from KW share total capitalization as the latter includes costs that have already been incurred to date while the former relates to future estimated costs.

(3) Includes land costs.

Unstabilized and Value Add Capital Expenditure Programs

We currently have seven assets that comprise 1.4 million commercial square feet that are currently unstabilized and are undergoing various stages of lease up, value add or development. In order to stabilize these assets, we project our share of the costs to complete to be $19.5 million. The cost to complete this work and the time frame described is subject to many uncertainties that are beyond our control, and the actual costs may be significantly higher than the estimates shown below.

The table below describes assets that are currently unstabilized.

| Property                         |     | Segment       |     | Location            |     | Type   |     | KW Ownership % |     | 

# of Assets |     | Commercial Sq. Ft. |           |     | Leased % |    |   | KW Est. Costs to Complete(1) |    |    |
|:---------------------------------|:----|:--------------|:----|:--------------------|:----|:-------|:----|:---------------|:----|------------:|:----|:-------------------|----------:|:----|:---------|---:|:--|:-----------------------------|---:|---:|
| Coopers Cross                    |     | Co-Investment |     | Ireland(2)          |     | Office |     | 50%            |     |           1 |     |                    |   395,000 |     |          |  — |   | $                            |  2 |    |
| 90 East Buildings