X0306 4 2020-02-21 0 0001630472 TPG RE Finance Trust, Inc. TRTX 0001425872 Davis Kelvin L. C/O TPG RE FINANCE TRUST, INC. 888 SEVENTH AVENUE, 35TH FLOOR NEW YORK NY 10106 1 0 0 0 Common Stock 2020-02-21 4 J 0 17068 0.00 A 17068 I See Explanation of Responses Common Stock 169061 I See Explanation of Responses Common Stock 23014 D On February 21, 2020, Mr. Kelvin L. Davis acquired 17,068 shares of common stock ("Common Stock") of TPG RE Finance Trust, Inc. (the "Issuer") from TPG RE Finance Trust Management, L.P. (the "Manager"), the Issuer's external manager, pursuant to a grant made by the Manager to Mr. Davis in accordance with the terms of a compensatory plan adopted by the Manager. The shares of Common Stock awarded to Mr. Davis will vest ratably in four annual instalments beginning on June 30, 2020. Upon vesting, the shares of Common Stock will be delivered to Mr. Davis. Effective January 30, 2020, the 169,061 shares of Class A common stock of the Issuer that Mr. Davis indirectly beneficially owned (through his indirect limited partnership interest in TPG RE Finance Trust Equity, L.P.) were converted into shares of Common Stock and distributed in kind to Mr. Davis's personal investment vehicles, which now hold such shares. (3) Matthew Coleman is signing on behalf of Mr. Davis pursuant to the power of attorney dated January 16, 2020, which is attached hereto as an exhibit. /s/ Matthew Coleman, **By: Matthew Coleman, on behalf of Kelvin L. Davis (3) 2020-02-28