KKR Real Estate Finance Trust Investor Presentation Deck

KREF Integration with KKR KREF differentiates itself by seeking opportunities where it has sourcing, underwriting and execution advantages through KKR's brand, industry knowledge, relationships and deep bench of investment professionals KKR Private Equity $86BN of AUM, ~184 professionals globally, 100+ portfolio. companies globally KKR Global Macro & Asset Allocation ~28 professionals globally, insight on macro market observations and MSA analytics KKR Senior Advisors(1) ~61 advisors globally, including four dedicated real estate advisors ® KKR REAL ESTATE FINANCE TRUST % 18 Note: As of March 31, 2021. (1) Senior Advisors, Industry Advisors and KKR Advisors are engaged as consultants and are not employees of KKR. 8 KKR Credit $165BN of AUM, ~159 professionals globally, sourcing & UW synergies KKR Capital Markets ~45 professionals globally, sourcing and structuring expertise KKR Public Affairs ~18 professionals globally, stakeholder relations Integration Drives Meaningful Benefits to KREF $ Deep network of direct relationships to source high-quality investments Differentiated credit assessment capabilities Solutions provider for complex business plans offering speed and certainty Best-in-class financing creates attractive risk- adjusted returns KKR REAL ESTATE FINANCE TRUST

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