Kennedy-Wilson, Inc. (the Issuer), a wholly-owned subsidiary of global real estate investment company Kennedy-Wilson Holdings, Inc. (the Company), has launched offers to exchange any and all of its outstanding 4.750% Senior Notes due 2029, 4.750% Senior Notes due 2030, and 5.000% Senior Notes due 2031 (collectively, the Existing Notes). Eligible Holders can exchange Existing Notes for newly issued Senior Notes due 2032 (Option A Notes) or Senior Notes due 2034 (Option B Notes), subject to certain caps, conditions, and proration. The exchange offers are being made in connection with the previously announced proposed acquisition of the Company by Kona Bidco, LLC and Kona Merger Subsidiary, Inc., an entity affiliated with a consortium led by William McMorrow, Chairman and CEO of the Company, and Fairfax Financial Holdings Limited. The Issuer is also soliciting consents to adopt certain amendments to the indentures governing the Existing Notes, which must be delivered concurrently with tendered notes. Consummation of the exchange offers and consent solicitations is conditioned upon the satisfaction or waiver of certain conditions, including the completion of the proposed merger and the receipt of valid consents from holders of at least a majority of the outstanding aggregate principal amount of each series of Existing Notes. Supporting Holders, representing approximately 19% of the Existing 2029 Notes, 35% of the Existing 2030 Notes, 27% of the Existing 2031 Notes, and 27% of the Existing Notes in aggregate, have agreed to support the offers. Eligible Holders who tender Existing Notes by the Early Participation Date (March 13, 2026) will receive Total Consideration, which includes an early participation premium. Total Consideration for the 2029 Notes is $1,000 principal amount of New Notes, and for the 2030 and 2031 Notes is $1,010 principal amount of New Notes. Eligible Holders who tender Existing Notes after the Early Participation Date but by the Expiration Date (March 30, 2026) will receive Exchange Consideration of $950 principal amount of New Notes, excluding the early participation premium. Accrued and unpaid interest on the Existing Notes accepted for exchange will be paid in cash. The maximum aggregate principal amount of Option A Notes and Option B Notes that may be issued is $906,000,000 for each series, and each series is subject to a minimum of $400 million in aggregate principal amount being issued (Minimum Liquidity Condition). Option A Notes will accrue interest at 6.125% per year and mature on October 15, 2032. Option B Notes will accrue interest at 6.375% per year and mature on October 15, 2034. The New Notes will be fully and unconditionally guaranteed on an unsecured basis by the same guarantors that currently guarantee the Existing Notes, including the Company and certain of its subsidiaries.