Holding(s) in Company

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi

1. Identity of the issuer or the underlying issuerof existing shares to which voting rights areattached: ii

Kennedy Wilson Europe Real Estate Plc

2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights

Yes

An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached

No

An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments

No

An event changing the breakdown of voting rights

No

Other (please specify):

3. Full name of person(s) subject to thenotification obligation: iii

Kennedy-Wilson Holdings, Inc.

4. Full name of shareholder(s)  (if different from 3.):iv

Kennedy-Wilson Holdings, Inc.

KW Europe Investors Ltd

KW Investment Management Ltd

Kennedy Wilson UK Limited

Kennedy Wilson Europe Limited

Kennedy Wilson Espana SLU

5. Date of the transaction and date onwhich the threshold is crossed orreached: v

5 May 2017

6. Date on which issuer notified:

5 May 2017

7. Threshold(s) that is/are crossed orreached: vi, vii

23.80%

8. Notified details:

A: Voting rights attached to shares viii, ix

Class/type ofshares

if possible usingthe ISIN CODE

Situation previousto the triggeringtransaction

Resulting situation after the triggering transaction

NumberofShares

NumberofVotingRights

Numberof shares

Number of votingrights

% of voting rights x

Direct

Direct xi

Indirect xii

Direct

Indirect

JE00BJT32513

29,829,730

29,829,730

30,015,924

23.80%

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financialinstrument

Expirationdate xiii

Exercise/Conversion Period xiv

Number of votingrights that may beacquired if theinstrument isexercised/ converted.

% of votingrights

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi

Resulting situation after the triggering transaction

Type of financialinstrument

Exercise price

Expiration date xvii

Exercise/Conversion period xviii

Number of voting rights instrument refers to

% of voting rights xix, xx

Nominal

Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

30,015,924

23.80%

9. Chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held, if applicable: xxi

KW Europe Investors Ltd - 25,350,895 shares

Kennedy-Wilson Holdings, Inc. - 576,954 shares

KW Investment Management Ltd - 1,439,660 shares

Kennedy Wilson UK Limited - 2,289,536 shares

Kennedy Wilson Europe Limited - 305,911 shares

Kennedy Wilson Espana SLU - 52,968 shares

Proxy Voting:

10. Name of the proxy holder:

11. Number of voting rights proxy holder will cease to hold:

12. Date on which proxy holder will cease to hold voting rights:

13. Additional information:

14. Contact name:

In Ku Lee

15. Contact telephone number:

+1 310 887 6400