X0306 4 2020-10-28 0 0001630472 TPG RE Finance Trust, Inc. TRTX 0001712073 Ginsberg Deborah J. C/O TPG RE FINANCE TRUST, INC. 888 SEVENTH AVENUE, 35TH FLOOR NEW YORK NY 10106 0 1 0 0 See Remarks (5) Common Stock 2020-10-28 4 J 0 857 8.25 D 38287 D Common Stock 2020-12-17 4 A 0 9746 0.00 A 48033 D Common Stock 1929 I See Explanation of Responses On October 28, 2020, TPG RE Finance Trust Management, L.P. (the "Manager"), the external manager of TPG RE Finance Trust, Inc. (the "Issuer"), withheld 857 shares of Common Stock ("Common Stock") of the Issuer from Ms. Deborah Ginsberg for payment of the tax liability incident to the vesting of shares of Common Stock granted by the Manager pursuant to the terms of a compensatory plan adopted by the Manager. Effective January 30, 2020, the 6,066 shares of Class A common stock of the Issuer that Ms. Ginsberg indirectly beneficially owned (through her indirect limited partnership interest in TPG RE Finance Trust Equity, L.P.) were converted into shares of Common Stock and distributed in kind to Ms. Ginsberg, who now holds such shares. The shares of Common Stock awarded to Ms. Ginsberg will vest ratably in four annual installments beginning on June 30, 2021. Represents shares of Common Stock that have been awarded by the Manager to Ms. Ginsberg in accordance with the terms of a compensatory plan adopted by the Manager. Upon vesting, the shares of Common Stock will be delivered to Ms. Ginsberg. (5) Vice President, General Counsel and Secretary. (6) Matthew Coleman is signing on behalf of Ms. Ginsberg pursuant to the power of attorney dated July 5, 2017, which was previously filed with the Securities and Exchange Commission. /s/ Matthew Coleman, By: Matthew Coleman, on behalf of Deborah Ginsberg (6) 2020-12-18