KKR Real Estate Finance Trust Results Presentation Deck

Liquidity Overview • In addition to the available liquidity below, KREF had $235.3 million of unencumbered senior loans that can be pledged to financing facilities subject to lender approval, as of December 31, 2021. Sources of Available Liquidity ($ in Millions) $600.0 $500.0 $400.0 $300.0 $200.0 $100.0 $0.0 $271.5 Cash $200.0 Undrawn Corporate Revolver $57.4 Approved and Undrawn Credit Capacity (1) $528.9 Total Available Liquidity (1) Represents under-levered amounts under financing facilities. While these amounts were previously contractually approved and/or drawn, in certain cases, the lender's consent is required for us to (re)borrow these amounts. 15 KKR REAL ESTATE FINANCE TRUST

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