KKR Real Estate Finance Trust Investor Presentation Deck

Consolidated Statements of Income Three Months Ended September 30, 2022 (in thousands - except share and per share data) Net Interest Income Interest income Interest expense Total net ineterest income Other income Revenue from real estate owned operations Income from equity method investments Other income Gain on sale of investments Total other income 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' shares 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 $ $ $ $ $ December 31, 2022 143,508 91,592 51,916 2,417 820 1,576 4,813 4,576 21,189 6,578 634 3,593 36,570 20,159 58 20,101 (227) 20,328 5,326 400 14,602 0.21 0.21 69,109,790 69,109,790 0.43 $ $ $ $ $ 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 $ December 31, 2021 72,715 30,266 42,449 1,863 390 5,126 7,379 3,383 (3,077) 5,289 3,463 9,058 40,770 427 40,343 40,343 4,966 179 35,198 0.59 0.59 59,364,672 59,453,264 0.43 $ $ $ $ $ December 31, 2022 421,968 236,095 185,873 8,971 4,655 5,568 19,194 17,616 112,373 25,680 634 11,113 167,416 37,651 58 37,593 (510) 38,103 21,304 1,428 15,371 0.23 0.23 67,553,578 67,553,578 1.72 $ $ $ $ $ Year Ended December 31, 2021 279,950 114,439 165,511 6,371 686 5,126 12,183 14,235 (4,059) 19,378 10,273 39,827 137,867 684 137,183 137,183 11,369 179 125,635 2.22 2.21 56,571,200 56,783,388 1.72 $ $ December 31, 2020 $ $ $ 269,188 127,312 141,876 537 744 1,281 14,238 50,344 16,992 6,774 88,348 54,809 412 54,397 54,397 844 53,553 0.96 0.96 55,985,014 40 56,057,237 1.72

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