Business Wire | Jan 31, 2022 04:35PM EST

KKR Real Estate Finance Trust Inc. Tax Treatment of 2021 Dividends

Jan. 31, 2022

NEW YORK--(BUSINESS WIRE)--Jan. 31, 2022--KKR Real Estate Finance Trust Inc. ("KREF") (NYSE: KREF) today announced the tax treatment of its 2021 common stock and special voting preferred stock dividends. The following table summarizes KKR Real Estate Finance Trust Inc.'s common stock and special voting preferred stock dividend payments for the tax year ended December 31, 2021:

Tax Treatment of 2021 Dividends Record Payment Cash Dividend Ordinary Qualified CapitalDate Date Distribution Adjustment ^(1) Dividends Dividends Gain ^(2) Dividends

December January $0.43 ($0.43 ) $0.00 $0.0000 $0.0000 $0.000031, 2020 15, 2021March 31, April $0.43 $0.00 $0.43 $0.4262 $0.0050 $0.00382021 15, 2021June 30, July $0.43 $0.00 $0.43 $0.4262 $0.0050 $0.00382021 15, 2021September October $0.43 $0.00 $0.43 $0.4262 $0.0050 $0.003830, 2021 15, 2021December January $0.43 ($0.20 ) $0.23 $0.2280 $0.0027 $0.002031, 2021 14, 2022 $2.15 ($0.63 ) $1.52 $1.5066 $0.0177 $0.0134

(1) Pursuant to IRC Section 857(b)(9), cash distributions made on January 14, 2022 with a record date of December 31, 2021 are treated as received by shareholders on December 31, 2021 to the extent of 2021 earnings and profits. (2) Ordinary dividends that are "qualified REIT dividends" are eligible for the 20% deduction under IRC Section 199A(b)(1)(B).

Shareholders are encouraged to consult with their personal tax advisors as to their specific tax treatment of the Company's dividends.

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.

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CONTACT: MEDIA CONTACT: Cara Major or Miles Radcliffe-Trenner (212) 750-8300 media@kkr.com INVESTOR RELATIONS CONTACT: Jack Switala (212) 763-9048 kref-ir@kkr.com