KKR Real Estate Finance Trust Results Presentation Deck

1Q'20 Loan Originations Investment Loan Type Loan Size Location Collateral Loan Purpose LTV(¹) Investment Date Asset Photos New York Multifamily Floating-Rate Mezzanine Loan $20.0 million Westbury, NY 237-unit Class-A Multifamily Construction 66% January 2020 Case Studies 6=883 San Diego Multifamily Floating-Rate Senior Loan $106.0 million San Diego, CA 231-unit Class-A Multifamily Acquisition 71% February 2020 (1) LTV based on initial loan amount divided by the as-is appraised value as of the date the loan was originated. 9 Plano Office Floating-Rate Senior Loan $226.5 million Plano, TX Class-A Office Campus totaling 930k SF Refinance 64% February 2020 Cont KKR REAL ESTATE FINANCE TRUST

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