KKR Real Estate Finance Trust Investor Presentation Deck

KKR Real Estate Finance Trust Inc. Overview Best In Class Portfolio (1) (2) $7.9 B Investment Portfolio 99% Senior Loans $123 M Average Loan Size (1) 57% Multifamily & Industrial 100% Interest Collected Senior loans secured primarily by transitional, institutional multifamily and office properties owned by high quality sponsors Conservative Balance Sheet $9.1 B Financing Capacity 77% Fully Non-Mark-to-Market (²) $952 M Current Liquidity(³) Conservative liability management focused on diversified non-mark-to-market financing KREF's Manager Fully Integrated with KKR 14% KKR Ownership in KREF $504 B Global AUM $64 B Real Estate AUM(4) $24 B Balance Sheet 160+ Real Estate Professionals (5) One firm culture that rewards investment discipline, creativity and determination and emphasizes the sharing of information, resources, expertise and best practices Average loan size is inclusive of the unfunded commitment Based on outstanding face amount of secured financing, including non-consolidated senior interests, and excludes convertible notes and the corporate revolving credit facility (3) Includes $240 million in cash, $610 million undrawn corporate revolver capacity and $102 million of available borrowings based on existing collateral (4) Figures represent AUM across all KKR real estate transactions (5) As of February 2023 KREF 3

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