KKR Finance

July 18, 2012

Global Finance Team

KKR has 137 finance and accounting professionals

36 professionals are dedicated to Private Markets Funds operations and reporting

28 professionals are dedicated to Private Markets Management Company operations and reporting

37 professionals are dedicated to Public Markets operations and reporting

11 professionals are dedicated to the Capital Markets / Principal Activities operations and reporting

7 professionals are dedicated to Public Reporting

12 professionals are dedicated to Tax Reporting

5 professionals are dedicated to Internal Audit

C.F.O.
Bill Janetschek

Private Markets Funds

Valuations / Financial Reporting /
Operations

Private
Markets
Management
Company

Public Markets

Capital
Markets /
Principal
Activities

Public
Reporting

Tax

Joan Lacagnina

Valuations /
Capital Raising

Operations

Rich Kreider /
Keith
Salvatore

Terence
Gallagher

Operations /
Financial
Reporting

Operations /
Financial
Reporting

Operations /
Financial
Reporting

Operations /
Financial
Reporting

Global Tax
Director

Ken Castiglia

Mike McFerran

Kendra
Decious

Scott Karnas

Jeff Van Horn

Private Markets Funds

VALUATIONS / CAPITAL RAISING

Quarterly Investor Reports for Funds & Co-Investments

Quarterly Internal Reports including Dollars at Work DAW

CPG assisting with PPMs, Advisory Meetings, Conferences,

Performance Reporting

FINANCIAL REPORTING

Annual Financial Statements & Tax Reporting to LPs and Executives

Preparation of Quarterly GAAP Financial Statements

FUND OPERATIONS

Funding / Closing of Investments

Sale / Income from Investments

Capital Calls & Distributions to LPs for Funds & Co-Investments

Private Markets Management Company

OFFICES

Responsible for establishing offices and ascertaining they are set up in

accordance with local jurisdictions / laws

Currently there are 14 offices located throughout the world

Operating Utility

Collects Management / Transaction / Monitoring Fees from:

Private Equity Funds / Portfolio Companies

DB Alpha

Pays Expenses

Portfolio Company Reimbursements

Day to Day Expenses of the Firm

100% owner of KKR (Fixed Income) LLC (KAM

98% owner of KKR Capital Markets (KCM)

Public Markets
KKR ASSET MANAGEMENT CLIENTS

KKR Financial Holdings LLC (NYSE: KFN)

Leveraged Credit Separate Accounts

Credit and Equity Hedge Funds

Private Equity Like Credit Funds (i.e., earn carried interest)

Leveraged Loan CLOs

Primary Activities:
Accounting and reporting for client accounts
Middle Office Operations

Hedging/financing transactions

Trade/settlement operations

Capital Markets / Principal Activities

CAPITAL MARKET ENTITIES

KCM US, KCM UK, KCM ASIA, KCM HOLDCO (MIZUHU REVOLVER),
NBFC INDIA

PRINCIPAL ACTIVITIES - Firms Balance Sheet

Investments, debt facilities, fx hedging, cash management

KES

DB ALPHA

principal protected financial index, managed by KKR,

sponsored and administered by Deutsche Bank
-

PROPRIETARY DEBT & EQUITY TRADING - Convert Arb Strategy

Public Reporting
KKR began trading on the NYSE on July 15, 2010

PUBLIC FILINGS S-1, 10-k, 10-q

SOX COMPLIANCE

Tax
Jeff Van Horn
Global Tax
Director

KAM

KKR

Oil & Gas

Alex Mostovoi
Tax Director

Brian Bull
Tax Director

Michael
Johnston
Tax Principal

Tax
Publicly Traded Partnerships (PTP)

Compliance & Tax Reporting to Public Investors

Tax Provisions

Management Company

Compliance & Tax Reporting

Monitoring Permanent Establishment Tax Issues

Investment Activities

Deal Team / Outside Advisor Interaction

Tax Planning / Transaction Structuring

Capital Raising

Interaction with Prospective Investors & Public Investors