KKR Real Estate Finance Trust Results Presentation Deck

Portfolio Repositioning for Higher Rate Environment Ongoing portfolio rotation out of higher rate-floor loans is positioning KREF to benefit from a rising rate environment 100% floating-rate loan portfolio; 87% indexed to one-month LIBOR and 13% to Term SOFR LIBOR = 0.45% SOFR = 0.30% As of 3/31/2022 $0.04 $0.03 $0.02 $0.01 $0.00 - $0.01 -$0.02 -$0.03 -$0.04 $0.00 -0.25% Quarterly Net Interest Income Per Share Sensitivity to Change in Market Rates Note: Based on portfolio as of March 31, 2022 KREF ($0.00) +0.50% ($0.00) +1.00% Change in LIBOR/SOFR $0.01 +1.50% ($ Impact Per Share / Q) $0.03 +2.00% 15.

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