KKR Real Estate Finance Trust Investor Presentation Deck

Case Studies: Largest Three Office Loans Investment Loan Type Investment Date Collateral Location Committed Amount Current Principal Amount Basis Coupon LTV(¹) Max Remaining Term (Yrs.) Asset Photos (1) 21 Bellevue Office Floating-Rate Senior Loan September 2021 Class-A Office Totaling 609k SF Bellevue, WA $260 million $47 million $155 / SF L + 3.6% 63% 5.5 Mountain View Office Floating-Rate Senior Loan July 2021 Five Class-A Office Buildings Totaling 446k SF Mountain View, CA $250 million $182 million $592 / SF L + 3.3% 73% 4.9 Minneapolis Office Floating-Rate Senior Loan November 2017 Two Class-A Office Buildings Totaling 1.1mm SF Minneapolis, MN $194 million $194 million $179 / SF L + 3.8% 65% 1.2 LTV based on initial loan amount divided by the as-is appraised value as of the date the loan was originated. For the Bellevue Office, a Class A development project, LTV is based on the appraised as stabilized estimated value upon completion. KKR REAL ESTATE FINANCE TRUST

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