KREF Liquidity and Portfolio Overview

KKR Real Estate Finance Trust Inc. Overview Best In Class Portfolio $7.9 B Investment Portfolio Conservative Balance Sheet $8.9 B Financing Capacity KREF's Manager Fully Integrated with KKR 14% KKR Ownership in KREF 100% Senior Loans 55% Multifamily & Industrial 76% $519 B Fully Non-Mark-to-Market(2) Global AUM (4) $25 B Balance Sheet (4) $124 M 96% Average Loan Size(1) Interest Collected $716 M Current Liquidity(3) Senior loans secured primarily by transitional, institutional multifamily, office and industrial properties owned by high quality sponsors Conservative liability management focused on diversified non-mark-to-market financing $64 B Real Estate AUM(4)(5) 150+ Real Estate Professionals (4) One firm culture that rewards investment discipline, creativity and determination and emphasizes the sharing of information, resources, expertise and best practices Average loan size is inclusive of the unfunded commitment Based on outstanding face amount of secured financing, including non-consolidated senior interests Includes $108 million in cash, $500 million undrawn corporate revolver capacity, $78 million of available borrowings based on existing collateral and $30 million of loan repayment proceeds held by a servicer As of June 30, 2023 (1) (2) (3) (5) KREF Figures represent AUM across all KKR real estate transactions 3

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