KKR Real Estate Finance Trust Results Presentation Deck

Recent Operating Performance Net Income and Distributable Earnings ($ in Millions) 2Q'22 Net income (loss) (¹): $19.4 Distributable earnings (2). $33.1 $0.28 $0.48 2Q'22 1Q'23 ($30.8) $33.1 ($0.45) $0.48 1Q'23 2Q'23 ($25.8) $33.1 ($0.37) Net Income (Loss) per Diluted Share Distributable Earnings per Diluted Share $0.48 2Q'23 $0.43 Dividends and Book Value Per Share 2Q'22 Dividend per share: $0.43 (1) Represents Net income (loss) attributable to common stockholders (2) See Appendix for definition and reconciliation to financial results prepared in accordance with GAAP KREF $0.43 Dividend yield on book value per share: 8.9% 10.0% $19.36 1Q'23 2Q'22 $17.16 1Q'23 Book Value per Share 2Q'23 $0.43 10.5% $16.38 2Q'23 6

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