X0306 4 2020-02-21 0 0001630472 TPG RE Finance Trust, Inc. TRTX 0001550532 Banyasz Avi 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 35401 D On February 21, 2020, Mr. Avi Banyasz 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. Banyasz in accordance with the terms of a compensatory plan adopted by the Manager. The shares of Common Stock awarded to Mr. Banyasz will vest ratably in four annual instalments beginning on June 30, 2020. Upon vesting, the shares of Common Stock will be delivered to Mr. Banyasz. Effective January 30, 2020, the 12,387 shares of Class A common stock of the Issuer that Mr. Banyasz indirectly beneficially owned (through his limited partnership interest in TPG RE Finance Trust Equity, L.P.) were converted into shares of Common Stock and distributed in kind to Mr. Banyasz, who now holds such shares directly. (3) Matthew Coleman is signing on behalf of Mr. Banyasz 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 Avi Banyasz (3) 2020-02-28