KREF KKR Real Estate Finance Trust Inc

KKR Real Estate Finance Trust Inc. (the “Company” or “KREF”) (NYSE: KREF) today announced the tax treatment of its 2022 common stock and 6.50% Series A Cumulative Redeemable Preferred Stock (the “Series A Preferred Stock”) dividends. The following table summarizes KKR Real Estate Finance Trust Inc.’s common stock and Series A Preferred Stock dividend payments for the tax year ended December 31, 2022:

Tax Treatment of 2022 Common Stock Dividends Record Date Payment Date Cash Distribution Adjustment Dividend(1) Ordinary Dividends(2) Qualified Dividends Capital Gain Dividends December 31, 2021 January 14, 2022

$0.43

($0.23)

$0.20

$0.20000

$0.00000

$0.00000

March 31, 2022 April 15, 2022

$0.43

$0.00

$0.43

$0.43000

$0.00000

$0.00000

June 30, 2022 July 15, 2022

$0.43

$0.00

$0.43

$0.43000

$0.00000

$0.00000

September 30, 2022 October 14, 2022

$0.43

$0.00

$0.43

$0.43000

$0.00000

$0.00000

December 30, 2022 January 13, 2023

$0.43

($0.18)

$0.25

$0.25000

$0.00000

$0.00000

$2.15

($0.41)

$1.74

$1.74000

$0.00000

$0.00000

(1)

Pursuant to IRC Section 857(b)(9), cash distributions made on January 13, 2023 with a record date of December 30, 2022 are treated as received by shareholders on December 31, 2022 to the extent of 2022 earnings and profits.

(2)

Ordinary dividends may be eligible for the 20% deduction applicable to “qualified REIT dividends” under IRC Section 199A(b)(1)(B). Stockholders are encouraged to consult with their own tax advisors as to their specific tax treatment of the Company's distributions.

Tax Treatment of 2022 Series A Preferred Stock Dividends Record Date Payment Date Cash Distribution Adjustment Dividend Ordinary Dividends(1) Qualified Dividends Capital Gain Dividends February 28, 2022 March 15, 2022

$0.41

$0.00

$0.41

$0.40625

$0.00000

$0.00000

May 31, 2022 June 15, 2022

$0.41

$0.00

$0.41

$0.40625

$0.00000

$0.00000

August 31, 2022 September 15, 2022

$0.41

$0.00

$0.41

$0.40625

$0.00000

$0.00000

November 30, 2022 December 15, 2022

$0.41

$0.00

$0.41

$0.40625

$0.00000

$0.00000

$1.63

$0.00

$1.63

$1.62500

$0.00000

$0.00000

(1)

Ordinary dividends may be eligible for the 20% deduction applicable to “qualified REIT dividends” under IRC Section 199A(b)(1)(B). Stockholders are encouraged to consult with their own tax advisors as to their specific tax treatment of the Company's distributions.

About KKR Real Estate Finance Trust Inc.

KREF is a real estate finance company that focuses primarily on originating and acquiring senior loans secured by commercial real estate properties. KREF is externally managed and advised by an affiliate of KKR & Co. Inc. For additional information about KREF, please visit its website at www.kkrreit.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230131006063/en/

MEDIA CONTACT: Miles Radcliffe-Trenner (212) 750-8300 media@kkr.com

INVESTOR RELATIONS CONTACT: Jack Switala (212) 763-9048 kref-ir@kkr.com