Kennedy-Wilson Holdings, Inc. (NYSE:KW) Q4 2019 Earnings Conference Call February 27, 2020 10:00 AM ET Company Participants Daven Bhavsar - Vice President, Investor Relations William McMorrow - Chief Executive Officer Mary Ricks - President Matt Windisch - Executive Vice President Justin Enbody - Chief Financial Officer. Conference Call Participants Tony Paolone - JPMorgan Derek Johnston - Deutsche Bank James Feldman - Bank of America Alan Parsow - Elkhorn Partners Operator Good day and welcome to the Kenne ...

Kennedy-Wilson Holdings, Inc. (NYSE:KW) Q3 2019 Earnings Conference Call October 31, 2019 10:00 AM ET Company Participants Daven Bhavsar - Vice President, Investor Relations William McMorrow - Chief Executive Officer Mary Ricks - President Matt Windisch - Executive Vice President Conference Call Participants Anthony Paolone - JP Morgan Mitchell Germain - JMP Group LLC Sheila McGrath - Evercore Inc. Tom Hennessy - Deutsche Bank Operator Good day and welcome to the Kennedy-Wilson Third Quarter 2019 Earnings C ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2019 Or TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission file number 001-33824 Kennedy-Wilson Holdings, Inc. (Exact name of Registrant as specified in its charter) (State or other ...

KENNEDY WILSON Q1-19 Investor Update (As of March 31, 2019) Disclaimer/Forward-Looking Statements Statements made by us in this presentation and in other reports and statements released by us that are not historical facts constitute "forwardlooking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These for-ward-looking statements are necessarily estimates reflecting the judgment of our senior manageme ...

Kennedy-Wilson Holdings, Inc. (NYSE:KW) Q2 2019 Earnings Conference Call August 1, 2019 10:46 AM ET Corporate Participants Daven Bhavsar - Vice President, Investor Relations Bill McMorrow - Chairman and Chief Executive Officer Mary Ricks - President Matt Windisch - Executive Vice President Conference Call Participants Mitch Germain - JMP Securities Tony Paolone - JPMorgan Sheila McGrath - Evercore Operator Good day and welcome to the Kennedy-Wilson Second Quarter 2019 Earnings Call and Webcast. Today's pre ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2019 Or TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission file number 001-33824 Kennedy-Wilson Holdings, Inc. (Exact name of Registrant as specified in its charter) (State or other jurisd ...

Financial Data and Key Metrics Changes - GAAP EPS was a loss of $0.04 per share compared to a loss of $0.02 in Q1 2018 [9] - Adjusted EBITDA was $120 million in the quarter, down from $123 million in Q1 2018 [9] - Adjusted net income totaled $54 million, compared to $63 million in Q1 2018 [9] - Estimated annual NOI of the real estate portfolio was $405 million, with 49% from the western U.S. and 51% from Europe [9][10] Business Line Data and Key Metrics Changes - Same property revenue and NOI grew by 3% across the global same property portfolio [11] - Excluding hotels, same property portfolio had a 5% NOI growth [11] - Multifamily portfolio saw same property revenue up 6% and NOI up 7% [12] - Southern California multifamily portfolio had an NOI growth of 10% [12] Market Data and Key Metrics Changes - The Irish multifamily portfolio had same property NOI growth of over 6% [14] - The Pacific Northwest same-store property portfolio had occupancies up 2% and NOI up almost 8% [14] - Office takeup in Dublin was the highest ever recorded in Q1 at over 1 million square feet [27] Company Strategy and Development Direction - Focus on growing NOI, investment management, and capital recycling [16] - Expecting to add $100 million of annualized NOI by the end of 2023 from current development projects [18] - Aiming to grow the multifamily portfolio in Dublin to 5,000 units [24] - Strategic asset sales to focus on high-quality investment opportunities [41] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strong fundamentals supporting rental growth in the multifamily portfolio [12] - The Irish economy is growing at a strong pace with GDP growth among the highest in the EU [27] - Anticipated strong performance in the hotel sector following renovations [61] Other Important Information - The company sold $323 million of assets during the quarter, generating $93 million in cash [41] - The company completed a EUR 261 million refinance on Capital Dock, achieving a low effective interest rate of 1.56% [44] Q&A Session Summary Question: Retail sector exposure and strategy - Management is both selling and adding value to retail assets, studying specific geographic markets for opportunities [47][49] Question: Impact of construction costs on development pipeline - Construction costs are manageable, but land prices have escalated, prompting caution in new acquisitions [51][52] Question: Revenue expectations for the Shelbourne hotel post-renovation - Management expects a return to strong performance with high occupancy rates and increased ADR [54][56] Question: Apartment pricing power in mountain states - Strong pricing power due to affordability and employment growth in markets like Boise and Reno [70][72] Question: Update on Dublin's apartment supply - There is a significant need for new housing, with estimates of 25,000 to 30,000 units needed annually [75] Question: Capital raising pipeline - The company has a robust pipeline for separate accounts and discretionary funds, with expectations for continued growth [80][82] Question: Future acquisition and disposition strategy - The company plans to prioritize high-quality assets and reduce the number of properties while increasing cash from sales [106]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2019 Or TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission file number 001-33824 Kennedy-Wilson Holdings, Inc. (Exact name of Registrant as specified in its charter) Delaware 26-0508760 ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark One) x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2018 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-33824 Kennedy-Wilson Holdings, Inc. (Exact Name of Registrant as Specified in Its Charter) (State or Other Jurisdi ...

Financial Data and Key Metrics Changes - For Q4 2018, GAAP EPS was $0.21 per share, down from $0.69 a year ago. For the full year, GAAP EPS reached a record $1.04, a 25% increase from $0.83 in 2017 [9] - The company achieved a record annual adjusted EBITDA of $713 million, which is 56% higher than the $456 million produced in 2017. Adjusted net income totaled a record $397 million in 2018, compared to $243 million last year, marking a 63% increase [10] Business Line Data and Key Metrics Changes - Same property revenue grew by 4% and NOI increased by 7% across the global same property portfolio for the quarter. For the year, same property revenue and NOI grew by 5% [11] - The market rate multi-family portfolio saw same property revenue up 5% and NOI growth of 6%, outperforming other public real estate companies that averaged 2.5% NOI growth for the quarter [11] - The Mountain State portfolio, which includes properties in Salt Lake City, Boise, Seattle, and Reno, experienced same property revenue and NOI growth of over 7% each [12] Market Data and Key Metrics Changes - The stabilized assets had an estimated annual NOI of $407 million, with 48% from the Western U.S. and 52% from Europe, primarily in Ireland and the UK [10] - In Europe, the company completed 195 commercial leasing transactions across 3.1 million square feet, adding $13 million of annual rent, representing a 12% increase on previous rents [18] Company Strategy and Development Direction - The company focuses on three key strategic initiatives: growing property NOI, expanding investment management and fee business, and executing capital recycling and asset sale programs [19] - The development pipeline includes over 4,100 market rate and affordable multifamily units, 2.9 million square feet of commercial property, and a 150-room hotel, expected to add $100 million to annual NOI by the end of 2023 [26] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in raising significant new fee-bearing capital in 2019 without meaningful changes in overhead, resulting in high-margin growth [48] - The Irish economy is performing strongly with an estimated GDP growth of almost 9% for 2018 and a forecast of 4.5% for 2019, supporting sustained job creation [43] Other Important Information - The company sold $313 million of assets in the quarter, with its share being $264 million. Europe accounted for 86% of asset sales [50] - The company returned a record $290 million of capital to shareholders in 2018 through dividends and share repurchases, equating to approximately $2 per share [52] Q&A Session Summary Question: Will rent controls in London impact the business? - Management does not expect rent controls to impact their single asset in London, as the multifamily market is undersupplied [60][61] Question: Will asset sales reduce leverage? - Management indicated that asset sales will not increase leverage points, as they plan to pay down existing debt [68] Question: Is the strong apartment same-store growth sustainable? - Management aims to outperform the market, targeting 4% revenue growth assuming market growth remains around 2% [75] Question: How is cost inflation affecting development in Dublin? - Management noted that they have fixed-price contracts with contractors, mitigating risks of cost overruns [80] Question: What is the outlook for cap rate spreads in different regions? - Management highlighted attractive cap rate spreads in the U.S., Ireland, and the UK, with strong job growth supporting real estate investments [98]