KKR REFT Holdings L.P. - Jun 7, 2022 Form 4 Insider Report for KKR Real Estate Finance Trust Inc. (KREF)

Role: 10%+ Owner
Signature: KKR REFT HOLDINGS L.P. By: KKR REFT Holdings GP LLC, its general partner By: /s/ Christopher Lee Name: Christopher Lee Title: Attorney-in-fact for Robert H. Lewin, Chief Financial Officer
Stock symbol: KREF
Transactions as of: Jun 7, 2022
Transactions value $: -$82,917,500
Form type: 4
Date filed: 6/9/2022, 05:00 PM
Previous filing: Nov 3, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	KREF	Common Stock	Sale	-$82.9M	-4.25M	-29.82%	$19.51	10M	Jun 7, 2022	See Footnotes	F1, F2, F4, F5
holding	KREF	Common Stock						1	Jun 7, 2022	See Footnotes	F3, F4, F5

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	This amount represents the $19.70 secondary price per share of common stock, par value $0.01 per share ("Common Stock"), of KKR Real Estate Finance Trust Inc. (the "Issuer") less the underwriting discount of $0.19 per share for shares sold by KKR REFT Holdings L.P. in connection with an underwritten public offering.
F2	Represents securities held by KKR REFT Holdings L.P. The general partner of KKR REFT Holdings L.P. is KKR REFT Holdings GP LLC, which is wholly owned by KKR REFT Asset Holdings LLC.
F3	Represents securities held by KKR REFT Asset Holdings LLC.
F4	KKR REFT Asset Holdings LLC is owned by KKR Group Partnership L.P. and KKR Financial Holdings LLC, whose common shares are wholly owned by KKR Group Partnership L.P. KKR Group Holdings Corp. is the general partner of KKR Group Partnership L.P. KKR Group Co. Inc. is the sole shareholder of KKR Group Holdings Corp. KKR & Co. Inc. is the sole shareholder of KKR Group Co. Inc. KKR Management LLP is the Series I preferred stockholder of KKR & Co. Inc. Henry R. Kravis and George R. Roberts are the founding partners of KKR Management LLP.
F5	Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein, except to the extent of such Reporting Person's pecuniary interest therein. The filing of this statement shall not be deemed to be an admission that, for purposes of Section 16 of the Securities Exchange Act of 1934 or otherwise, the Reporting Persons are the beneficial owners of any securities reported herein.

Remarks:

Because no more than 10 reporting persons can file any one Form 4 through the Securities and Exchange Commission's EDGAR system, certain affiliates of the Reporting Persons have filed a separate Form 4.