THIS ANNOUNCEMENT RELATES TO THE DISCLOSURE OF INFORMATION THAT QUALIFIED OR MAY HAVE QUALIFIED AS INSIDE INFORMATION WITHIN THE MEANING OF ARTICLE 7(1) OF THE MARKET ABUSE REGULATION (EU) 596/2014 (AS IT FORMS PART OF DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018)

NOTICE OF PARTIAL redemption

to the holders of the outstanding

Euro-denominated 3.250 per cent. Notes due 2025 (ISIN: XS1321149434)

(the "Notes")

issued by

Kennedy Wilson Europe Real Estate Limited

(formerly known as Kennedy Wilson Europe Real Estate Plc)

(the "Issuer")

NOTICE IS HEREBY GIVEN to the holders of the Notes (the "Noteholders") that, on 18 December 2024 (the "Optional Redemption Date"), the Issuer redeemed €175,000,000 in aggregate nominal amount of the Notes in accordance with (i) Condition 6(d) (Redemption at the Option of the Issuer) of the Terms and Conditions of the Notes and the Final Terms dated 10 November 2015 and 15 April 2016 in connection with the Notes (together, the "Final Terms" and, together with the Terms and Conditions of the Notes, the "Conditions") and (ii) the terms of the permanent global note representing the Notes.

Terms used in this notice but not defined herein shall have the meaning given to them in the Conditions.

The Notes so redeemed were redeemed at the Make Whole Redemption Amount notified to Noteholders on 16 December 2024 (such Make Whole Redemption Amount being €1,004.30 per Calculation Amount, amounting to a total of €175,751,843.97, in respect of all of the Notes called for redemption), together with interest accrued to (but excluding) 18 December 2024 (the "Optional Redemption Date") (such interest accrued being an amount equal to €3.21 per Calculation Amount, amounting to a total of €560,958.90, in respect of all of the Notes called for redemption). Following the partial redemption of the Notes, €300,000,000 in aggregate nominal amount of the Notes remains outstanding.

In accordance with the Conditions, all of the Notes called for redemption will be cancelled and may not be re-issued or resold.

For further information you may contact:

Daven Bhavsar, CFA

Vice President of Investor Relations

dbhavsar@kennedywilson.com

This notice, which is irrevocable, is given by Kennedy Wilson Europe Real Estate Limited on 18 December 2024.

This notice is released by the Issuer and contains information that qualified or may have qualified as inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 (as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018) ("MAR"), encompassing information relating to the partial redemption of Notes described above. For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055 (as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018), this announcement is made by Padmini Singla, General Counsel, Europe of the Issuer.

LEI Number: 213800WIL553Z1T6DZ52