Skyline Investments Inc.

Major Shareholding Notification • May 11, 2017

CI Investments Inc. (-)

10-May-2017 / 16:00 GMT/BST Dissemination of a RegulatoryAnnouncement that contains inside information according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.

FORM 8.3

PUBLIC OPENINGPOSITION DISCLOSURE/DEALINGDISCLOSURE BY APERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING1% OR MORE Rule 8.3 of the Takeover Code (the 'Code')

1. KEYINFORMATION

(a) Full name of discloser:	Cambridge GlobalAsset Management and Signature GlobalAsset Management, both business units of CI Investments Inc., as portfolio
	advisor to certain investment funds
(b) Owner or controller of interests and short
positions disclosed, if different from1(a):
The naming of nominee or vehicle companies is
insufficient. For a trust, the trustee(s), settlor and
beneficiaries must be named.
(c) Name of offeror/offeree in relation to whose	Kennedy-Wilson Holdings, Inc.
relevant securities this formrelates:
Use a separate form for each offeror/offeree
(d) If an exempt fund manager connected with an	N/A
offeror/offeree, state this and specify identity of
offeror/offeree:
(e) Date position held/dealing undertaken:	May 4, 2017
For an opening position disclosure, state the latest
practicable date prior to the disclosure
(f) In addition to the company in 1(c) above, is the	YES
discloser making disclosures in respect of any	If YES, specify which:
other party to the offer?	Kennedy Wilson Europe Real Estate Plc
If it is a cash offer or possible cash offer, state 'N/A'

2. POSITIONS OF THE PERSON MAKINGTHE DISCLOSURE

If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.

(a) Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)

Class of relevant security:		Common	Stock
	Interests Short positions
	Number	%	Number	%
(1) Relevant securities owned and/or controlled:	27321322.39%
(2) Cash-settled derivatives:
(3) Stock-settled derivatives (including options) and agreements to purchase/sell:
	27321322.39%
TOTAL:

All interests and all short positions should be disclosed.

Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

(b) Rights to subscribe for new securities (including directors' and other employee options)

Class of relevant security in relation to which subscription right exists: Details, including nature of the rights concerned and relevant percentages:

3. DEALINGS (IFANY) BYTHE PERSON MAKINGTHE DISCLOSURE

Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

The currency of all prices and other monetary amounts should be stated.

(a) Purchases and sales

Class of relevant	securityPurchase/saleNumber	of securitiesPrice	per unit

(b) Cash-settled derivative transactions

Class of relevant	Product	Nature of dealing	Number of reference	Price per
security	description	e.g. opening/closing a long/short position,	securities	unit
	e.g. CFD	increasing/reducing a long/short position

(c) Stock-settled derivative transactions (including options)

(i) Writing, selling, purchasing or varying

Class of relevant security	Product description e.g. call option	Writing, purchasing, selling, varying etc.	Number of securities to which option relates	Exercise price per unit	Type e.g. American, European etc.	Expiry date	Option money paid/ received per unit

(ii) Exercise

Class of relevant security	Product description e.g. call option	Exercising/ exercised against	Number of securities	Exercise price per unit

(d) Other dealings (including subscribing for new securities)

Class of relevant security	Nature of dealing	DetailsPrice	per unit (if applicable)
	e.g. subscription, conversion

4. OTHER INFORMATION

(a) Indemnity and other dealing arrangements

Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain fromdealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer:

Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state 'none'

(b)Agreements, arrangements or understandings relating to options or derivatives

Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to: (i) the voting rights of any relevant securities under any option; or (ii) the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced: If there are no such agreements, arrangements or understandings, state 'none' None

(c)Attachments

Is a Supplemental Form8 (Open Positions) attached?NO

Date	May
of	4,
disclosure:	2017
Contact	Anne
name:	Ramsay
Telephone number:	416-681-1771

Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.

The Panel's Market Surveillance Unit is available for consultation in relation to the Code's disclosure requirements on +44 (0)20 7638 0129.

The Code can be viewed on the Panel's website at www.thetakeoverpanel.org.uk.

Language: English ISIN: CA125521AA21 Category Code:RET - Kennedy-Wilson Holdings, Inc. TIDM: - Sequence No.: 4179

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