KKR Real Estate Finance Trust Results Presentation Deck
Second Quarter 2022 Highlights
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(2)
Financials
Originations
Portfolio
Liquidity &
Capitalization
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KREF
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2Q Net income (¹) of $0.28 per diluted share and Distributable Earnings (2) of $0.48 per diluted share
Book Value per Common Share ("BVPS") of $19.36 per share, compared to $19.46 per share as of 1Q'22
Book Value inclusive of a $34 million, or ($0.49) per share, CECL credit loss allowance
2Q originations of 11 floating-rate senior loans totaling $1,034 million with $948 million of initial fundings
$7.9 billion predominantly senior loan portfolio
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Multifamily and industrial assets represent 58% of loan portfolio
Weighted average risk rating of 3.0; 100% performing
Received $444 million in loan repayments and collected 100% of interest payments due in 2Q
Completed an underwritten public offering of 2,750,000 shares of common stock at $19.51 per share, resulting in $54 million of
net proceeds before transaction costs
Repurchased 1.0 million shares at an average price per share of $17.28 for a total of $18 million; year-to-date as of July 25, 2022,
KREF repurchased 1.4 million shares of common stock at an average price of $17.32 for a total of $25 million
Entered into a new $350 million term lending agreement and a new $100 million asset specific financing facility, which provide
match-term asset-based financing on a non-mark-to-market basis
Increased the borrowing capacity on our corporate revolving credit facility by $90 million to $610 million
77% of financing is fully non-mark-to-market and the remaining balance is mark-to-credit only
$790 million of available liquidity, including $118 million of cash, $62 million of available borrowings based on existing collateral,
and $610 million undrawn capacity on the corporate revolver
Represents Net Income attributable to common stockholders
See Appendix for definition and reconciliation to financial results prepared in accordance with GAAP
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