KKR Real Estate Finance Trust Results Presentation Deck

# Portfolio Details ($ in Millions) Senior Loans(¹) 品 69 70 71 72 73 Investment 51 Senior Loan Senior Loan Senior Loan Senior Loan Senior Loan 52 53 54 55 56 Senior Loan 57 Senior Loan 58 Senior Loan 59 Senior Loan 60 Senior Loan 61 Senior Loan 62 Senior Loan 63 Senior Loan 64 Senior Loan 65 Senior Loan 66 Senior Loan 67 Senior Loan 68 Senior Loan Senior Loan Senior Loan Senior Loan Senior Loan Senior Loan 74 75 Total / Weighted Average Non-Senior Loans Senior Loan Senior Loan (¹1) Real Estate Corporate Loan (12) 1 Total / Weighted Average CMBS B-Pieces 1 RECOPI(13) Total / Weighted Average Real Estate Owned 1 Real Estate Asset Total / Weighted Average Portfolio Total / Weighted Average Location New York, NY Scottsdale, AZ Raleigh, NC Hollywood, FL Seattle, WA Phoenix, AZ Arlington, VA Denver, CO Washington, D.C. Dallas, TX Manassas Park, VA Plano, TX Nashville, TN Atlanta, GA Durham, NC San Antonio, TX Sharon, MA Queens, NY Reno, NV Carrollton, TX Dallas, TX Georgetown, TX San Diego, CA Denver, CO New York, NY n.a. Various Portland, OR *See footnotes on subsequent page KREF Property Type Multifamily Multifamily Multifamily Multifamily Office Single Family Rental Multifamily Multifamily Multifamily Multifamily Multifamily Multifamily Hospitality Multifamily Multifamily Multifamily Multifamily Industrial Industrial Multifamily Multifamily Multifamily Multifamily Industrial. Condo (Resi) Multifamily Various Retail Investment Date 3/29/2018 5/9/2022 4/27/2022 12/20/2021 3/20/2018 4/22/2021 10/23/2020 9/14/2021 12/4/2020 8/18/2021 2/25/2022 3/31/2022 12/9/2021 12/10/2021 12/15/2021 4/20/2022 12/1/2021 2/22/2022 4/28/2022 4/1/2022 4/1/2022 12/16/2021 4/29/2022 12/11/2020 8/4/2017 12/11/2020 2/13/2017 12/16/2021 Total Whole Loan (2) $86.0 169.0 82.9 81.0 80.7 72.1 141.8 70.3 69.0 68.2 68.0 67.8 66.0 61.5 60.0 57.6 56.9 55.3 140.4 48.5 43.9 41.8 203.0 28.8 25.2 $12,545.6 105.0 $105.0 n.a. n.a. Committed Principal Amount (2) $86.0 84.5 82.9 81.0 80.7 72.1 70.9 70.3 69.0 68.2 68.0 67.8 66.0 61.5 60.0 57.6 56.9 55.3 50.5 48.5 43.9 41.8 40.0 28.8 25.2 $9,175.3 42.0 $42.0 40.0 $40.0 n.a. $9,257.3 Current Principal Amount $86.0 84.5 76.5 81.0 80.7 27.2 70.9 69.3 66.4 68.2 68.0 64.2 64.3 56.7 51.0 55.2 56.9 52.0 50.5 43.4 38.3 41.8 38.5 16.2 25.2 $7,730.9 42.0 $42.0 35.7 $35.7 79.2 $79.2 $7,887.8 Net Equity (3) $13.3 12.7 14.7 14.7 46.9 9.8 11.6 11.0 10.5 9.8 13.1 17.0 9.8 14.6 9.1 9.9 8.3 12.8 11.0 11.6 9.2 10.1 6.1 5.6 25.2 $1,905.3 41.6 $41.6 35.7 $35.7 79.2 $79.2 $2,061.8 Future Funding (4) $0.0 6.4 - 44.9 1.0 2.6 - - 3.6 1.7 4.8 9.0 2.4 3.3 5.1 5.6 - 1.5 12.6 $1,412.3 $0.0 n.a. Coupon (5) (6) $1,416.6 + 4.0% + 2.9% + 3.0% + 3.0% 4.1% + + 4.8% + 3.8% + 2.7% + 3.5% + 3.8% + 2.7% + 2.8% + + 3.6% 2.9% + 2.9% + 2.7% + 2.8% + 4.0% +2.7% + 2.9% + 2.9% + 3.3% + 2.6% + 3.8% + 4.2% + 3.3% 4.3 4.8% $4.3 4.8% + 12.0% + 12.0% n.a. 5.1% Loan Per Max Remaining Term (Yrs) (5) (7) SF / Unit / Key(8) LTV (5) (9) 0.8 4.9 4.9 4.5 0.8 3.9 3.3 4.3 3.4 4.2 4.7 4.8 4.5 4.5 4.5 4.9 4.4 1.7 4.9 4.8 4.8 4.5 4.9 3.5 0.3 3.6 3.5 3.5 6.9 6.9 n.a. 3.6 $ 462,366 / unit $ 457,995/ unit $ 239,063 / unit $ 327,935 / unit $ 468 / SF $ 157,092 / unit $ 393,858 / unit $ 286,157 / unit $265,617/ unit $ 189,444 / unit $ 223,684 / unit $ 241,165 / unit $ 279,498 key $ 187,771 / unit $ 147,758 / unit $ 161,404 / unit $ 296,484 / unit $ 84 / SF $ 117 / SF $ 135,778 / unit $ 107,607/ unit $ 199,048 / unit $441,379 / unit $ 58 / SF $ 1,120 / SF n/a 63% 64% 68% 74% 56% 50% 73% 78% 63% 70% 73% 75% 68% 67% 67% 79% 70% 68% 74% 74% 73% 68% 63% 61% 73% 67% n.a. n.a. n.a. n.a. 58% 58% n.a. 67% 18 Risk Rating w w w w w w w w w w w w w w w w w w w w w wwwN 3.0 3 3.0 n.a. n.a. 3.0

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