Tpg Re Finance Trust, Inc. · NYSE:TRTX
Tpg Re Finance Trust — Investor Presentation (June 2026)
25 slides from Tpg Re Finance Trust's investor presentation, Jun 1, 2026
Slide 1: TPG RE Finance Trust, Inc. Investor Presentation
June 2026 TPG RE Finance Trust, Inc. Investor Presentation Exhibit 99.1
Slide 2: Forward-Looking Statements and Other Disclosures
Investor Presentation| June 2026 2TPG RE Finance Trust, Inc.| NYSE: TRTX Forward-Looking Statements and Other Disclosures This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act
Slide 3: TRTX By the Numbers
Investor Presentation| June 2026 3TPG RE Finance Trust, Inc.| NYSE: TRTX TRTX By the Numbers 1. Includes one fixed rate contiguous mezzanine loan 2. In addition to credit spread, all-in yield includes the amortization of deferred origination fees, purchase price discount, and accrual of both extensi
Slide 4: TRTX Relative Stock Performance
Investor Presentation| June 2026 4TPG RE Finance Trust, Inc.| NYSE: TRTX 0.76x 0.91x 0.90x 0.82x 0.56x 0.24x 0.21x TRTX ARI BXMT BRSP KREF CMTG GPMT 11.4% 15.0% 13.7% 11.1% 10.3% 9.1% —% TRTX KREF GPMT BRSP BXMT ARI CMTG Current Common Stock Dividend Yield2 Current Price to Book Value Multiple3 1. T
Slide 5: TPG – Premier Global Asset Manager
Investor Presentation| June 2026 5TPG RE Finance Trust, Inc.| NYSE: TRTX TPG – Premier Global Asset Manager Capital Market Solutions $90B $32B $18B TPG Tech Adjacencies TPG Growth TPG Private Equity Opportunities TPG GP Solutions TPG NewQuest TPG Peppertree TPG Capital TPG Healthcare Partners TPG As
Slide 6: Strength of TPG Real Estate Platform
Investor Presentation| June 2026 6TPG RE Finance Trust, Inc.| NYSE: TRTX Strength of TPG Real Estate Platform Well-established real estate franchise with extensive portfolio and network creates significant advantages for TRTX in executing its lending strategy 1. As of March 31, 2026. Includes co-inv
Slide 7: TRTX Overview
Investor Presentation| June 2026 7TPG RE Finance Trust, Inc.| NYSE: TRTX TRTX Overview Established National Lending Program Highly Experienced Dedicated Leadership Leading Capital Markets Platform • TRTX is externally managed by TPG RE Finance Trust Management, L.P. (“TRTX Manager”), an affiliate of
Slide 8: 1Q26 Operating Results
Investor Presentation| June 2026 8TPG RE Finance Trust, Inc.| NYSE: TRTX $11.07 $0.02 ($0.01) $0.24 ($0.24) ($0.04) $0.02 $0.00 $11.06 Book Value 12/31/25 Retired Common Stock Issuance of Common Stock Net Income, Excluding Credit Loss Benefit Dividends on Common Shares Dividends on Preferred Shares
Slide 9: Liquidity and Leverage
Investor Presentation| June 2026 9TPG RE Finance Trust, Inc.| NYSE: TRTX Liquidity and Leverage Available Liquidity as a Percentage of Total Assets Leverage Ratios4,5 1. Cash held to satisfy liquidity covenants under secured credit agreements 2. Available for Eligible Collateral, as defined in relev
Slide 10: Loan Portfolio
Investor Presentation| June 2026 10TPG RE Finance Trust, Inc.| NYSE: TRTX Loan Portfolio 32% 13% 6% Geography4,5 Portfolio Metrics Total Loan Commitments $4.3B Outstanding Principal Balance $4.1B MSA Concentrations (Top 25 / Top 10)1 58.2% / 35.8% Weighted Average All-in Yield2 7.10% Weighted Averag
Slide 11: Loan Portfolio Composition
Investor Presentation| June 2026 11TPG RE Finance Trust, Inc.| NYSE: TRTX Full Repayments 53.4%46.6% Investments1 54.6%45.4% Loan Portfolio Composition ▪ 1Q26 total loan originations of $148.4 million, with a weighted average interest rate of Term SOFR + 2.73% and as-is LTV of 63.0% ▪ 1Q26 total loa
Slide 12: Loan Portfolio Evolution
Investor Presentation| June 2026 12TPG RE Finance Trust, Inc.| NYSE: TRTX $850 $3,152 $2,320 $832 Multifamily Industrial % of Total Portfolio 3/31/2021 Pro Forma 3/31/2026 $2,755 $459 $196 Office % of Total Portfolio 3/31/2021 3/31/2026 Pro Forma 3/31/2026 Loan Portfolio Evolution Office Exposure Mu
Slide 13: Loan Portfolio Walk
Investor Presentation| June 2026 13TPG RE Finance Trust, Inc.| NYSE: TRTX $3,276.6 $8.8 $670.5 ($172.3) $3,783.6 $8.3 $265.3 ($415.8) $3,641.4 $11.9 $843.0 ($378.3) $4,118.1 $14.6 $135.5 ($123.6) $4,144.6 3/31/2025 Deferred Fundings Originations Repayments 6/30/2025 Deferred Fundings Originations Re
Slide 14: Loan Risk Ratings & CECL Reserve
Investor Presentation| June 2026 14TPG RE Finance Trust, Inc.| NYSE: TRTX $— $171.5 $3,797.1 $161.4 $—$— $169.2 $3,773.8 $159.9 $— March 31, 2026 December 31, 2025 1 2 3 4 5 Loan Risk Ratings & CECL Reserve Dispersion of Risk Ratings1 by Amortized Cost ($ in millions) Weighted Average Risk Rating of
Slide 15: Diverse Financing Sources
Investor Presentation| June 2026 15TPG RE Finance Trust, Inc.| NYSE: TRTX Non-MTM 77.9% 22.1% 1.8% 76.1% Secured Credit Agreements (Credit MTM) Asset-Specific Financing Secured Revolving Credit Facility Collateralized Loan Obligations Non-MTM Financing Loan Financing Diverse Financing Sources Total
Slide 16: Real Estate Owned
Investor Presentation| June 2026 16TPG RE Finance Trust, Inc.| NYSE: TRTX Real Estate Owned 1 Includes two properties 2. Excludes assumed working capital of $2.6 million 3. Carrying Value includes the impact of capital expenditures and depreciation and amortization recorded from acquisition to the r
Slide 17: Impact of Changing Rates
Investor Presentation| June 2026 17TPG RE Finance Trust, Inc.| NYSE: TRTX Change in Index Rate $0.02 ($0.01) $0.00 $0.01 $0.02 - 1.00% - 0.50% 0.00% + 0.50% + 1.00% (0.02) (0.01) 0.00 0.01 0.02 0.03 Impact of Changing Rates Portfolio Net Interest Income Sensitivity ($ Impact per Share per Quarter)1
Slide 18: Appendix
TPG RE Finance Trust, Inc.| 4Q 2022 Appendix
Slide 19: TRTX Loan Portfolio
Investor Presentation| June 2026 19TPG RE Finance Trust, Inc.| NYSE: TRTX TRTX Loan Portfolio 1. Represents TRTX’s potential maximum loan commitment/balance 2. Represents TRTX’s current loan balance and excludes third party pari passu and junior positions in the same capital structure, if any 3. See
Slide 20: Per Share Calculations
Investor Presentation| June 2026 20TPG RE Finance Trust, Inc.| NYSE: TRTX Per Share Calculations Reconciliation of Net Income Attributable to Common Stockholders and Distributable Earnings 1. Includes preferred stock dividends declared and paid for Series A preferred stock and Series C Preferred Sto
Slide 21: Definitions
Investor Presentation| June 2026 21TPG RE Finance Trust, Inc.| NYSE: TRTX Definitions ▪ Distributable Earnings is a non-GAAP measure, which we define as GAAP net income (loss) attributable to our common stockholders, including realized gains and losses from loan write-offs, loan sales and other loan
Slide 22: Definitions (cont.)
Investor Presentation| June 2026 22TPG RE Finance Trust, Inc.| NYSE: TRTX Definitions (cont.) ▪ Fundings to borrowers that are made under existing loan commitments after a loan closing date.Deferred Fundings Geographic Diversity ▪ TRTX divides the South region into separate Southeast and Southwest r
Slide 23: Definitions (cont.)
Investor Presentation| June 2026 23TPG RE Finance Trust, Inc.| NYSE: TRTX Definitions (cont.) ▪ Except for construction loans, LTV is calculated for loan originations and existing loans as the total outstanding principal balance of the loan or participation interest in a loan (plus any financing tha
Slide 24: Definitions (cont.)
Investor Presentation| June 2026 24TPG RE Finance Trust, Inc.| NYSE: TRTX Definitions (cont.) Property Types ▪ Mixed-Use: TRTX classifies a loan as mixed-use if the property securing TRTX’s loan (a) involves more than one use; and (b) no single use represents more than 60% of the collateral property
Slide 25: Company Information
Investor Presentation| June 2026 25TPG RE Finance Trust, Inc.| NYSE: TRTX Company Information Contact Information Headquarters: 888 Seventh Avenue 35th Floor New York, NY 10106 New York Stock Exchange: Symbol: TRTX TPG RE Finance Trust, Inc. Brandon Fox Interim Chief Financial Officer and Chief Acco
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