KKR Real Estate Finance Trust Inc. Announces Launch of Public Offering of Series A Cumulative Redeemable Preferred Stock

NEW YORK–(BUSINESS WIRE) – KKR Real Estate Finance Trust Inc. (“KREF”) (NYSE: KREF) today announced the start of a public offering of shares of its accumulated redeemable Series A preferred stock (the “Preferred Stock”) at a price of $ 25.00 each Share known liquidation preference. KREF intends to use the net proceeds from the offer to acquire its target assets in accordance with its investment strategies and guidelines as well as for general corporate purposes.

KREF intends to apply to list the Preferred Stock on the New York Stock Exchange under the ticker symbol “KREF PRA”.

Raymond James & Associates, Inc. and KKR Capital Markets LLC are acting as joint book-running managers for the offering.

Shelf registration statements on Form S-3, including a prospectus relating to the preferred shares, have been filed by KREF with the SEC and are effective. The offer is only made on the basis of a preliminary prospectus supplement and the prospectus filed with the SEC today by KREF. Copies of the Provisional Supplement and the accompanying Prospectus and the Final Supplement, if available, are available from Raymond James & Associates, Inc., Attn: Syndicate, 880 Carillon Parkway, St. Petersburg, FL 33716, by calling (800) 248-8863 or by email at [email protected] or from KKR Capital Markets LLC, 30 Hudson Yards, New York, NY 10001, or by calling (212) 230-9433 or on the SEC’s website at www.sec.gov under the name KREF.

This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor will any sale of these securities be made in any state or jurisdiction in which such offer, solicitation or sale is prior to Registration or illegal would qualify under the securities laws of such state or jurisdiction.

About KKR Real Estate Finance Trust Inc.

KKR Real Estate Finance Trust Inc. is a real estate finance company primarily focused on obtaining and acquiring senior loans backed by commercial real estate. KREF is externally administered and advised by a subsidiary of KKR & Co. Inc.

Forward-Looking Statements

This press release contains certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can generally be identified by using forward-looking terminology such as “prospect”, “belief”. “Expect”, “Potential”, “Next”, “May”, “Should”, “Search”, “Approximately”, “Predict”, “Intent”, “Will”, “Plan”, “Estimate”, “Anticipate.” “,” The negative version of these words, other comparable words, or any other statement relating to the operations, strategies, projections, or intentions of KREF. These “forward-looking” statements include statements relating, among other things, to the proposed offer of the preferred shares, the expected use of the net proceeds from the offer and KREF’s expectations regarding market conditions for an offer of the preferred shares. By their very nature, forward-looking statements speak only as of the date they are made, are not historical facts or guarantees of future performance, and are subject to risks, uncertainties, assumptions or changes in circumstances that are difficult to predict or quantify. particularly due to the uncertainties caused by the COVID-19 pandemic, including the projected impact of COVID-19 on the business, financial performance and results of operations of KREF. The forward-looking statements are based on the beliefs, assumptions and expectations of KREF, taking into account all information currently available to it. These beliefs, assumptions and expectations can change due to many possible events or factors, all of which are not known to or under the control of KREF. Such forward-looking statements are subject to various risks and uncertainties, including those described in Part I, Item 1A. “Risk Factors” in KREF’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020, as filed with the SEC, as these factors may be updated from time to time in KREF’s periodic filings with the SEC. Accordingly, actual results could differ materially from those reported in this press release. All forward-looking statements in this press release speak only as of the date of this release. KREF assumes no obligation to publicly update or revise any forward-looking statements as a result of new information, future developments or for other reasons, unless this is required by law.