Earnings Document

KKR & Co. Inc. Reports

First Quarter 2021 Financial Results

May 4, 2021

New York, May 4, 2021-KKR & Co. Inc. (NYSE: KKR) today reported its first quarter 2021 results.

Conference Call

A conference call to discuss KKR's financial results will be held on Tuesday, May 4, 2021 at 10:00 a.m. ET. The conference call may be accessed bydialing +1 (877) 407-0312 (U.S. callers) or +1 (201) 389-0899 (non-U.S. callers); a pass code is not required. Additionally, the conference call will be broadcast live over the Internet and may be accessed through the Investor Center section of KKR's website athttps://ir.kkr.com/events-presentations/. A replay of the live broadcast will be available on KKR's website beginning approximately one hour after the live broadcast ends.

About KKR

KKR is a leading global investment firm that offers alternative asset management and capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partnersthat manage hedge funds. KKR's insurance subsidiaries offer retirement, lifeand reinsurance products under the management of The Global AtlanticFinancial Group. References to KKR's investments may include the activitiesof its sponsored funds and insurance subsidiaries. For additional informationabout KKR & Co. Inc. (NYSE: KKR), please visit KKR's website atwww.kkr.comand on Twitter @KKR_Co.

"We'vehad an excellent start to the year. In addition to strong investment performanceand continued Book Valuegrowth, we closed on the acquisition of Global Atlantic and finished the quarter with $367 billion of Assets Under

Management. The firm continues to be well positionedfor growth in the years ahead."

Henry R. Kravis and George R. RobertsCo-Chairmen and Co-Chief Executive Officers of KKR

1

Legal Disclosures

This presentation has been prepared by KKR & Co. Inc. solely for informational purposes for its public stockholders in connection with evaluating thebusiness, operations and financial results of KKR & Co. Inc. and its subsidiaries (collectively,"KKR"),which includes The Global Atlantic Financial Group LLCand its subsidiaries (collectively,"Global Atlantic")as of February 1, 2021. This presentation is not and shall not be construed as an offer to purchase or sell, or the solicitation of an offer to purchase or sell any securities of KKR & Co. Inc. This presentation may not be distributed, referenced, quoted or linked by website, in whole or in part, except as agreed to in writing by KKR & Co. Inc.

The statements contained in this presentation are made as of the date of this presentation (other than financial figures, which are as of quarter end), unless another time is specified in relation to them, and access to this presentation at any given time shall not give rise to any implication that there has been no change in the facts set forth in this presentation since that date.

This presentation contains certain forward-looking statements pertaining to KKR, including with respect to the investment funds, vehicles and accounts managed by KKR and the insurance companies managed by Global Atlantic. Forward-looking statements relate to expectations, estimates, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. You can identify these forward-looking statements by the use of words such as "outlook," "believe,""think,""expect," "potential," "continue," "may," "should," "seek," "approximately," "predict," "intend," "will," "plan,""estimate,""anticipate," the negative version of these words, other comparable words or other statements that do not relate strictly to historical or factual matters. These forward looking statements are based onKKR'sbeliefs, assumptions and expectations, but these beliefs, assumptions and expectations can change as a result of many possible events or factors, not all of which are known to KKR or within its control. Due to various risks and uncertainties, actual events or results may differ materially from those reflected or contemplated in such forward-looking statements. Past performance is no guarantee of future results. All forward-looking statements speak only as of the date of this presentation. KKR does not undertake any obligation to update any forward-looking statements to reflect circumstances or events that occur after the date of this presentation except as required by law. Please see the Appendix for additional important information about forward looking statements, including the assumptions and risks concerning projections and estimates of future performance.

This presentation includes certain non-GAAP financial measures. These non-GAAP measures are in addition to, and not a substitute for, measures of financial performance prepared in accordance with U.S. GAAP and may have important limitations as analytical tools, because they may exclude items that may be significant in understanding and analyzing our financial results. In addition, these measures are defined or calculated differently by different companies in our industry and, accordingly, investors should use caution when considering the measures used in this presentation compared to similarly titled measures of other companies. Please see the Appendix for additional important information about the non-GAAP measures presented herein and a reconciliation of non-GAAP measures to comparable GAAP measures.

Please see the Appendix for other important information. In addition, information about factors affecting KKR, including a description of risks that should be considered when making a decision to purchase or sell any securities of KKR & Co. Inc., can be found in KKR & Co. Inc.'sAnnual Report on Form 10-K for the fiscal year ended December 31, 2020, filed with the SEC on February 19, 2021 and its other filings with the SEC, which are available atwww.sec.gov.

Contact Information

KKR & Co. Inc.

First Quarter Earnings

KKR's First Quarter 2021 GAAP Results (Unaudited)

• •GAAP Net Income Attributable to KKR & Co. Inc. Common Stockholders was $1.6 billion for the quarter. GAAPStockholders' Equity Per Outstanding Share of Common Stock was $22.62 at quarter end

Revenues

Insurance

-3,177,958 1,385,048

- 1,385,048

Expenses

Insurance

-1,488,994 1,607,551

- 1,607,551

Total Investment Income (Loss) - Asset Management

$ $

(3,683,819)

$ $

3,096,545 2,887,645

$ $

(1,163,924) $ 11,000,400

Redeemable Noncontrolling Interests

-

- 2,245,531

-

- 8,308,049

Preferred Stock Dividends

8,341

25,591

33,364

73,805

Net Income (Loss) Attributable to KKR & Co. Inc. Per Share of Common Stock

Diluted

$ $

(2.31)

$ $

2.85 2.68

$ $

(0.03) $ 8.25

Basic

559,149,821 559,149,821

576,727,967 620,888,491

551,346,218 567,157,256

4Q'20

1Q'21

KKR & Co. Inc. Stockholders' Equity Per Outstanding Share of Common Stock

$

21.15

$

22.62

Note: All figures in this presentation are as of March 31, 2021, unless otherwise specifically indicated.1Q'21results only include the results of Global Atlantic for the two months beginning on February 1, 2021; comparability to prior and future periods may be limited. See Appendix for GAAP income statement and GAAP balance sheet. Totals may not add due to rounding.

1

Attachments

• Original Link
• Original Document
• Permalink

Disclaimer

KKR & Co. Inc. published this content on 03 May 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 May 2022 11:03:17 UTC.