KKR Real Estate Finance Trust Investor Presentation Deck

Consolidated Statements of Income (in thousands - except share and per share data) Net Interest Income Interest income Interest expense Total net interest income Other Income Revenue from real estate owned operations Income (loss) from equity method investments Other income Total other income (loss) Operating Expenses General and administrative Provision for (reversal of) credit losses, net Management fees to affiliate Incentive compensation to affiliate Expenses from real estate owned operations Total operating expenses Income (Loss) Before Income Taxes, Noncontrolling Interests, Preferred Dividends, Redemption Value Adjustment and Participating Securities' Share in Earnings Income tax expense Net Income (Loss) Noncontrolling interests in (income) loss of consolidated joint venture Net Income (Loss) Attributable to KREF Trust Inc. and Subsidiaries Preferred Stock dividends and redemption value adjustment Participating securities' share in earnings Net Income (Loss) Attributable to Common Stockholders Net Income (Loss) Per Share of Common Stock, Basic Net Income (Loss) Per Share of Common Stock, Diluted Weighted Average Number of Shares of Common Stock Outstanding, Basic Weighted Average Number of Shares of Common Stock Outstanding, Diluted Dividends Declared per Share of Common Stock KREF $ $ $ $ $ September 30, 2022 114,627 67,311 47,316 2,092 914 840 3,846 4,286 80,604 6,589 2,598 94,077 (42,915) $ (42,915) 161 (42,754) 5,326 341 (48,421) $ (0.70) $ $ (0.70) 69,382,730 69,382,730 0.43 $ Three Months Ended June 30, 2022 90,603 44,733 45,870 1,833 1,035 1,237 4,105 4,308 11,798 6,506 2,368 24,980 24,995 24,995 66 25,061 5,326 341 19,394 $ $ 0.28 $ 0.28 $ 68,549,049 68,549,049 0.43 $ September 30, 2021 75,320 29,832 45,488 2,162 130 2,292 3,659 1,165 4,964 2,215 12,003 35,777 106 35,671 35,671 3,682 31,989 $ $ 0.57 $ 0.57 $ 55,637,480 56,011,243 0.43 $ Nine Months Ended September 30, 2022 278,460 144,503 133,957 6,554 3,835 3,992 14,381 13,040 91,184 19,102 7,520 130,846 17,492 17,492 283 17,775 15,978 1,028 769 0.01 0.01 67,029,140 67,029,140 $ $ $ $ 1.29 $ September 30, 2021 207,235 84,173 123,062 4,508 296 4,804 10,852 (982) 14,089 6,810 30,769 97,097 257 96,840 96,840 6,403 90,437 1.63 1.62 55,629,810 55,883,197 1.29 40

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