AI Earnings Predictions for KKR Real Estate Finance Trust Inc. (KREF)

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KKR REAL ESTATE FINANCE TRUST INC. REPORTS

SECOND QUARTER 2026 FINANCIAL RESULTS

New York, NY, July 21, 2026 - KKR Real Estate Finance Trust Inc. (the “Company” or “KREF”) (NYSE: KREF) today reported its financial results for the quarter ended June 30, 2026.

Reported net loss attributable to common stockholders of ($121.8) million, or ($1.95) per diluted share of common stock, for the three months ended June 30, 2026, compared to net loss attributable to common stockholders of ($61.9) million, or ($0.96) per diluted share of common stock, for the three months ended March 31, 2026.

Reported Distributable Loss of ($36.4) million, or ($0.58) per diluted share of common stock, for the three months ended June 30, 2026, compared to Distributable Loss of ($4.1) million, or ($0.06) per diluted share of common stock, for the three months ended March 31, 2026.

Second Quarter 2026 Highlights

•$721.6 million liquidity position, including $83.1 million of cash, $254.8 million of loan principal repayments held by a servicer and $350.0 million of undrawn capacity on our corporate revolving credit agreement as of June 30, 2026

•Originated and funded $348.6 million and $328.3 million, respectively, relating to three floating-rate senior loans, with a weighted average appraised loan-to-value ratio ("LTV")(1) of 58% and coupon of 2.8% over the applicable benchmark; and funded $31.1 million in loan principal for existing loans

•Received $806.6 million in loan repayments, including $784.2 million in full repayments across five loans

•Current loan portfolio of $4.5 billion:

•98% floating rate with a weighted average unlevered all-in yield(2) of 6.8% as of June 30, 2026

•Multifamily and industrial assets represent 60% of the loan portfolio

•Weighted average LTV at origination of 66%

•Average risk rating of the loan portfolio was 3.3, weighted by outstanding principal amount

•Resolved two watchlist loans; including a risk-rated 5 loan by taking title to a life science property in Boston, MA, and a risk-rated 4 loan in Georgetown, TX through a repayment

•Entered into two non-mark-to-market facilities in Europe with commitments of €115 million and £99 million, respectively

•Diversified financing sources totaling $7.0 billion with $2.6 billion of undrawn capacity:

•79% of secured financing is fully non-mark-to-market and the remaining balance is mark-to-credit only

•No final facility maturities until 2027 and no corporate debt due until 2030

•Repurchased 5.7 million shares at an average price per share of $6.63 for a total of $38.0 million

•Common book value of $604.0 million, or $10.24 per share, as of June 30, 2026, inclusive of a loan loss allowance that increased by $119.8 million, or ($1.92) per share, for the three months ended June 30, 2026 primarily due to additional reserves for risk-rated 5 and held-for-sale loans

Matt Salem, Chief Executive Officer of KREF, said “As the Board undertakes its review of strategic alternatives, management remains focused on executing the action plan that we established at the beginning of the year. We have made substantial progress repositioning the portfolio and generating liquidity through repayments and asset resolutions.”

Patrick Mattson, President and Chief Operating Officer of KREF, added: “Our capital position continues to provide meaningful flexibility. With over $700 million of liquidity, more than $2 billion of expected repayments this year, and predominantly non-mark-to-market financing, we believe we are well positioned to navigate the action plan.”

(1)    LTV is generally based on the initial loan amount divided by the as-is appraised value as of the date the loan was originated. Weighted average LTV excludes loans with a risk rating of 5.

(2)    All-in yield includes amortization of deferred origination fees, loan origination costs and purchase discounts.

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Second Quarter 2026 Loan Originations

The Company committed capital and funded the following floating-rate loans ($ in thousands):

Description/LocationProperty TypeMonth OriginatedCommitted Principal AmountInitial Principal FundedCoupon Maturity Date(A) LTV

Senior Loan, Various, Spain(B) MultifamilyApril 2026$158,367 $138,106 +2.9%May 203149%

Senior Loan, Los Angeles, CA(C) MultifamilyApril 2026153,990 153,990 +2.8October 202670

Senior Loan, Various, CA(D) OfficeApril 202636,250 36,250 +2.6April 203148

Total/Weighted Average$348,607 $328,346 +2.8%58%

(A)    Maturity date assumes all extension options are exercised, if applicable.

(B)    Loan size is €135.2 million in local currency. The total whole loan is $593.0 million, or €506.4 million, co-originated and co-funded by KREF and KKR affiliates. The Company's interest was 27% of the loan.

(C)    Loan secured by the borrower's ownership interest in an underlying mortgage loan.

(D)    The total whole loan is $72.5 million, co-originated and co-funded by KREF and KKR affiliates. The Company's

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KKR REAL ESTATE FINANCE TRUST INC. REPORTS

FIRST QUARTER 2026 FINANCIAL RESULTS

New York, NY, April 22, 2026 - KKR Real Estate Finance Trust Inc. (the “Company” or “KREF”) (NYSE: KREF) today reported its financial results for the quarter ended March 31, 2026.

Reported net loss attributable to common stockholders of ($61.9) million, or ($0.96) per diluted share of common stock, for the three months ended March 31, 2026, compared to net loss attributable to common stockholders of ($32.0) million, or ($0.49) per diluted share of common stock, for the three months ended December 31, 2025.

Reported Distributable Loss of ($4.1) million, or ($0.06) per diluted share of common stock, for the three months ended March 31, 2026, compared to Distributable Earnings of $14.4 million, or $0.22 per diluted share of common stock, for the three months ended December 31, 2025.

The Company’s Board of Directors declared a dividend of $0.10 per share of common stock with respect to the second quarter of 2026. The dividend is payable on July 15, 2026 to KREF’s common stockholders of record as of June 30, 2026.

In April 2026, the Board of Directors authorized a modified repurchase program, which replaces the prior authorization and authorizes KREF to repurchase up to an aggregate of $75.0 million of common stock and 6.50% Series A Cumulative Redeemable Preferred Stock.

First Quarter 2026 Highlights

•$653.4 million liquidity position, including $135.4 million of cash and $500.0 million of undrawn capacity on our corporate revolving credit agreement as of March 31, 2026

•Originated and funded $184.1 million and $177.9 million, respectively, relating to one floating-rate senior loan, with an appraised loan-to-value ratio ("LTV")(1) of 72% and coupon of 2.6% over the applicable benchmark; and funded $20.0 million in loan principal for existing loans

•Received $415.4 million in loan repayments, including $312 million of repayments on office loans

•Current loan portfolio of $5.1 billion:

•99% floating rate with a weighted average unlevered all-in yield(2) of 7.2% as of March 31, 2026

•Multifamily and industrial assets represent 63% of the loan portfolio

•Weighted average LTV at origination of 66%

•Average risk rating of the loan portfolio was 3.3, weighted by outstanding principal amount

•Leased our real estate owned office property in Mountain View, CA to OpenAI

•Invested $41.7 million in CMBS securities

•Diversified financing sources totaling $7.2 billion with $2.6 billion of undrawn capacity:

•77% of secured financing is fully non-mark-to-market and the remaining balance is mark-to-credit only

•No final facility maturities until 2027 and no corporate debt due until 2030

•In January 2026, repurchased 92,094 shares at an average price per share of $8.25 for a total of $0.8 million

•Common book value of $767.9 million, or $11.87 per share, as of March 31, 2026, inclusive of a CECL allowance of $260.3 million, or ($4.03) per share; the CECL allowance increased $73.5 million, or ($1.14) per share, for the three months ended March 31, 2026 primarily due to additional reserves for risk-rated 5 loans

(1)    LTV is generally based on the initial loan amount divided by the as-is appraised value as of the date the loan was originated. Weighted average LTV excludes loans with a risk rating of 5.

(2)    All-in yield includes amortization of deferred origination fees, loan origination costs and purchase discounts.

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Matt Salem, Chief Executive Officer of KREF, said “2026 is a transition year for KREF as we execute an aggressive action plan to resolve legacy exposures and reposition the portfolio. We are making tangible progress on this initiative while rotating into newer vintage, higher-quality assets, improving portfolio quality, rebuilding earnings power, and driving long-term shareholder value.”

Patrick Mattson, President and Chief Operating Officer of KREF, added: “As part of a disciplined capital allocation strategy, we reduced our quarterly dividend to $0.10 per share. With strong liquidity and expected repayments, we have the flexibility to retain and redeploy capital into attractive risk-adjusted opportunities, including new investments and share repurchases. Our new $75 million repurchase authorization further enhances this flexibility and supports value creation.”

First Quarter 2026 Loan Originations

The Company committed capital and funded the following floating-rate loan ($ in thousands):

Description/LocationProperty TypeMonth OriginatedCommitted Principal AmountInitial Principal FundedCoupon Maturity Date(A) LTV

Senior Loan, Various, UK (B) IndustrialMarch 2026$184,130 $177,863 +2.6%May 203172%

Total$184,130 $177,863 +2.6%72%

(A)    Maturity date assumes all extension options are exercised, if applicable.

(B)    Loan size is £136 million in local currency. The total whole loan is $438 million, or £323 million, co-originated and co-funded by KREF an

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KKR REAL ESTATE FINANCE TRUST INC. REPORTS

FOURTH QUARTER AND FULL YEAR 2025 FINANCIAL RESULTS

New York, NY, February 3, 2026 - KKR Real Estate Finance Trust Inc. (the “Company” or “KREF”) (NYSE: KREF) today reported its financial results for the year ended December 31, 2025.

Reported net loss attributable to common stockholders of ($32.0) million and ($69.9) million, or ($0.49) and ($1.05) per diluted share of common stock, for the three months and year ended December 31, 2025, respectively.

Reported Distributable Earnings of $14.4 million and $26.3 million, or $0.22 and $0.39 per diluted share of common stock, for the three months and year ended December 31, 2025, respectively.

Fourth Quarter 2025 Highlights

•$886.6 million liquidity position, including $84.6 million of cash, $700.0 million of undrawn capacity on our corporate revolving credit agreement and $74.3 million of loan principal repayments held by a servicer as of December 31, 2025

•Originated and funded $424.4 million and $396.9 million, respectively, relating to four floating-rate senior loans, including two European loans, with a weighted average appraised loan-to-value ratio ("LTV")(1) of 68% and coupon of 2.9% over applicable benchmark; and funded $28.8 million in loan principal for existing loans

•Received $379.9 million in loan repayments

•Current loan portfolio of $5.4 billion:

•99% floating rate with a weighted average unlevered all-in yield(2) of 7.3% as of December 31, 2025

•Multifamily and industrial assets represent 58% of the loan portfolio

•Weighted average LTV at origination of 66%

•Collected 100% of interest payments due on the loan portfolio

•Average risk rating of the loan portfolio was 3.2, weighted by outstanding principal amount

•Entered into a new $250.0 million term lending agreement, which provides match-term financing on a non-mark-to-market basis

•Entered into a new £300.0 million term credit agreement to finance European originations

•Diversified financing sources totaling $8.2 billion with $3.5 billion of undrawn capacity:

•74% of secured financing is fully non-mark-to-market and the remaining balance is mark-to-credit only

•No final facility maturities until 2027 and no corporate debt due until 2030

•Repurchased 1,120,943 shares at an average price per share of $8.24 for a total of $9.2 million

•Common book value of $844.8 million, or $13.04 per share, as of December 31, 2025, inclusive of a CECL allowance of $204.1 million, or ($3.15) per share; the CECL allowance increased for the three months ended December 31, 2025 primarily due to additional reserves for risk-rated 5 loans of $43.7 million, or ($0.67) per share

2025 Highlights

•Originated and funded $1.1 billion and $1.0 billion, respectively, relating to twelve floating-rate loans, including two European loans, with a weighted average LTV(1) of 68% and coupon of 2.8% over applicable benchmark; and funded $96.1 million in loan principal for existing loans

•Received $1.5 billion in loan repayments

•Refinanced and upsized the secured term loan from $339.5 million to $650.0 million, reduced the spread from S+3.50% to S+2.50%, and extended the maturity to March 2032

•Increased the borrowing capacity of the corporate revolving credit facility by $90.0 million to $700.0 million and extended the maturity date until 2030

•Entered into three term lending agreements totaling $650.0 million, which provide match-term financing on a non-mark-to-market basis, and a new £300.0 million term credit agreement to finance European originations

•Took title to multifamily properties in West Hollywood, CA and Raleigh, NC through deed-in-lieu of foreclosures; these loan resolutions resulted in net realized losses of $34.8 million, or ($0.52) per diluted share of common stock

•Sold certain real estate owned assets, including a parking garage in Philadelphia, PA and a retail/redevelopment parcel in Portland, OR, for a combined gain of $1.2 million

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•Repurchased 4,629,824 shares at an average price per share of $9.35 for a total of $43.3 million

•The CECL allowance increased for the year ended December 31, 2025 primarily due to additional reserves for risk-rated 5 loans of $119.4 million, or ($1.79) per share

Matt Salem, Chief Executive Officer of KREF, said: “2025 was a year of repositioning for KREF as we worked through one of the most challenging real estate cycles since the Global Financial Crisis. We took decisive actions to strengthen our balance sheet, enhance liquidity, and address legacy exposures, while continuing to originate high-quality loans in resilient sectors. As we move into 2026, our focus is on accelerating the resolution of select REO and watchlist assets to unlock value, narrow the gap between our share price and book value, and position the Company for more durable earnings growth.”

Patrick Mattson, President and Chief Operating Officer of KREF, added: “We ended the quarter with