KKR & Co. Inc. (Form: 8-K, Received: 07/31/2024 06:51:16)

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

______________

FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 31, 2024

KKR & CO. INC.

(Exact name of registrant as specified in its charter)

Delaware

001-34820

88-1203639

(State or other jurisdiction
of incorporation)

(Commission
File Number)

(IRS Employer
Identification No.)

30 Hudson Yards

New York, NY 10001

Telephone: (212) 750-8300

(Address, zip code, and telephone number, including

area code, of registrant's principal executive office.)

NOT APPLICABLE
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):


☐						Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)


☐						Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)


☐						Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))


☐						Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:


Title of each class	Trading symbol(s)	Name of each exchange on which registered
Common Stock	KKR	New York Stock Exchange
4.625% Subordinated Notes due 2061 of KKR Group Finance Co. IX LLC	KKRS	New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).


☐						Emerging growth company


☐						If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

Item 2.02 Results of Operations and Financial Condition.

On July 31, 2024, KKR & Co. Inc. issued an earnings release announcing its financial results for the quarter and six months ended June 30, 2024.

The earnings release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

As provided in General Instruction B.2 of Form 8-K, the information in this Item 2.02 and the exhibit furnished by this Current Report shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), nor shall they be deemed to be incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits


Exhibit No.			Description
Exhibit 99.1			Earnings release of KKR & Co. Inc., dated July 3 1, 2024, announcing its results for the quarter and six months ended June 3 0 , 2024 (This exhibit is furnished and not filed)
Exhibit 104			Cover Page Interactive Data File, formatted in Inline XBRL

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


		KKR & CO. INC.
Date:	July 31, 2024	By: /s/ Robert H. Lewin Name: Robert H. Lewin Title: Chief Financial Officer

February 7, 2023 KKR & Co. Inc. Reports Second Quarter 2024 Financial Results July 31, 2024

i This was a strong quarter for KKR. We reported record Fee Related Earnings and are experiencing acceleration across our key operating metrics and financial results. We raised $32 billion of new capital in the quarter, bringing Assets Under Management to over $600 billion. Additionally, we deployed $23 billion in the quarter, up from $10 billion one year ago, and have a healthy deal pipeline in the second half of 2024 across our businesses and geographies. Momentum across the firm remains high, and we remain confident in our team, our model and our growth prospects. Conference Call A conference call to discuss KKR's financial results will be held on July 31, 2024 at 10:00 a.m. ET. The conference call may be accessed by dialing +1 (877) 407-0312 (U.S. callers) or +1 (201) 389-0899 (non-U.S. callers); a pass code is not required. Additionally, the conference call will be broadcast live over the Internet and may be accessed through the Investor Center section of KKR's website at https://ir.kkr.com/events- presentations/. A replay of the live broadcast will be available on KKR's website beginning approximately one hour after the live broadcast ends. About KKR KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of The Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR's website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group's website at www.globalatlantic.com. New York, July 31, 2024 – KKR & Co. Inc. (NYSE: KKR) today reported its second quarter 2024 results. KKR Reports Second Quarter 2024 Financial Results Joseph Y. Bae and Scott C. Nuttall Co-Chief Executive Officers

ii KKR Reports Second Quarter 2024 Financial Results Investor Relations Craig Larson Phone: +1 (877) 610-4910 in U.S. / +1 (212) 230-9410 investor-relations@kkr.com Media Kristi Huller Phone: +1 (212) 750-8300 media@kkr.com Legal Disclosures This presentation has been prepared by KKR & Co. Inc. solely for informational purposes for its public stockholders in connection with evaluating the business, operations and financial results of KKR & Co. Inc. and its subsidiaries (collectively, “KKR”), which includes The Global Atlantic Financial Group LLC and its subsidiaries (collectively, “Global Atlantic” or “GA”), unless the context requires otherwise. This presentation is not, and shall not be construed, as an offer to purchase or sell, or the solicitation of an offer to purchase or sell any securities of KKR. This presentation may not be distributed, referenced, quoted or linked by website, in whole or in part, except as agreed to in writing by KKR & Co. Inc. The statements contained in this presentation are made as of the date of this presentation, other than financial figures, which are as of June 30, 2024, unless another time is specified in relation to such statements or financial figures, and access to this presentation at any given time shall not give rise to any implication that there has been no change in the facts set forth in this presentation since such date. This presentation contains certain forward-looking statements pertaining to KKR, including with respect to the investment funds, and vehicles and accounts managed by KKR and the Global Atlantic insurance companies. Forward-looking statements relate to expectations, estimates, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. You can identify these forward-looking statements by the use of words such as “opportunity,” “outlook,” “believe,” “think,” “expect,” “feel,” “potential,” “continue,” “may,” “should,” “seek,” “approximately,” “predict,” “intend,” “will,” “plan,” “estimate,” “anticipate,” “visibility,” “positioned,” “path to,” “conviction,” the negative version of these words, other comparable words or other statements that do not relate strictly to historical or factual matters. These forward-looking statements are based on KKR’s beliefs, assumptions and expectations, but these beliefs, assumptions and expectations can change as a result of many possible events or factors, not all of which are known to KKR or within its control. Due to various risks and uncertainties, actual events or results may differ materially from those reflected or contemplated in such forward-looking statements. Past performance is no guarantee of future results. All forward-looking statements speak only as of the date of this presentation. KKR does not undertake any obligation to update any forward-looking statements to reflect circumstances or events that occur after the date of this presentation except as required by law. Please see the Appendix for additional important information about forward-looking statements, including the assumptions and risks concerning projections and estimates of future performance. This presentation includes certain non-GAAP measures, including adjusted net income (“ANI”), total segment earnings, total investing earnings, total operating earnings (“TOE”), fee related earnings (“FRE”), strategic holdings operating earnings, and total asset management segment revenues. These non-GAAP measures are in addition to, and not a substitute for, measures of financial and operating performance prepared in accordance with U.S. GAAP. While we believe that providing these non-GAAP measures is helpful to investors in assessing the overall performance of KKR’s business, they may not include all items that are significant to an investor’s analysis of our financial results. Please see the Appendix for additional important information about the non-GAAP measures presented herein. Please see the Appendix for other important information. In addition, information about factors affecting KKR, including a description of risks that should be considered when making a decision to purchase or sell any securities of KKR, can be found in KKR & Co. Inc.’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023, filed with the SEC on February 29, 2024, and its other filings with the SEC, which are available at www.sec.gov. From time to time, we may use our website as a channel of distribution of material information. Financial and other material information regarding KKR is routinely posted on and accessible at www.kkr.com. Financial and other material information regarding Global Atlantic is routinely posted on and accessible at www.globalatlantic.com. Information on these websites are not incorporated by reference herein and are not a part of this presentation. Contact Information

KKR & Co. Inc. Second Quarter Earnings

1 Second Quarter 2024 GAAP Results (Unaudited) GAAP Net Income (Loss) Attributable to KKR & Co. Inc. Common Stockholders was $0.7 billion for the quarter and $1.4 billion YTD. ($ in thousands, except per share data) 2Q'23 2Q'24 2Q'23 YTD 2Q'24 YTD Revenues Asset Management and Strategic Holdings $ 1,451,344 $ 1,560,449 $ 2,577,378 $ 3,516,917 Insurance 2,175,174 2,611,461 4,176,622 10,311,731 Total Revenues $ 3,626,518 $ 4,171,910 $ 6,754,000 $ 13,828,648 Expenses Asset Management and Strategic Holdings $ 970,293 $ 1,222,960 $ 1,781,801 $ 2,840,929 Insurance 2,152,189 2,723,369 4,200,764 10,418,344 Total Expenses $ 3,122,482 $ 3,946,329 $ 5,982,565 $ 13,259,273 Total Investment Income (Loss) - Asset Management and Strategic Holdings $ 946,977 $ 984,624 $ 1,088,013 $ 2,003,881 Income Tax E xpense (B enefit) 324,955 216,969 473,702 486,170 R edeemable Noncontrolling Interes ts (1,740) 29,666 (9,043) 62,344 Noncontrolling Interes ts 266,086 295,644 193,083 674,602 P referred S tock D ividends 17,249 — 34,499 — Net Income (Loss) - KKR Common Stockholders $ 844,463 $ 667,926 $ 1,167,207 $ 1,350,140 Net Income (Loss) Attributable to KKR & Co. Inc. Per Share of Common Stock Basic $ 0.98 $ 0.75 $ 1.36 $ 1.52 Diluted $ 0.94 $ 0.72 $ 1.32 $ 1.45 Weighted Average Shares of Common Stock Outstanding Basic 861,553,274 887,394,513 861,332,121 886,200,169 Diluted 912,147,881 932,046,386 913,068,567 928,593,777 Note: See Appendix for detailed GAAP income statement and GAAP balance sheet. Totals may not sum due to rounding in this presentation.

2 Capital Metrics Second Quarter 2024 Highlights • Fee Related Earnings (“FRE”) of $755 million ($0.84/adj. share) in the quarter, up 25% year-over-year • FRE was $2.7 billion in the LTM ($2.98/adj. share), up 18% year-over-year • Total Operating Earnings ("TOE") of $1.0 billion ($1.17/adj. share) in the quarter, up 36% year-over-year • TOE was $3.7 billion in the LTM ($4.15/adj. share), up 21% year-over-year • Adjusted Net Income (“ANI”) of $972 million ($1.09/adj. share) in the quarter, up 49% year-over-year • ANI was $3.5 billion in the LTM ($3.93/adj. share), up 15% year-over-year • Assets Under Management (“AUM”) of $601 billion, up 16% year-over-year • Fee Paying Assets Under Management (“FPAUM”) of $487 billion, up 16% year-over-year • New Capital Raised of $32 billion in the quarter and $108 billion in the LTM • The quarterly new capital raised reflects the second highest quarter in KKR's history • New capital raised in 1H'24 is $63 billion, up meaningfully from $24 billion raised in 1H'23 • Capital Invested of $23 billion in the quarter and $61 billion in the LTM • $37 billion of Capital Invested in 1H'24 is 90% larger than 1H'23 Capital Invested of $19 billion • Regular dividend of $0.175 per share of common stock was declared for the quarter Note: Adj. share refers to adjusted shares. See the Appendix for GAAP reconciliations and other important information. See page 28 for record and payment dates for common stock. Financial Measures Corporate

3 Second Quarter 2024 Segment Earnings Note: See Appendix for GAAP reconciliations, endnotes about taxes affecting Adjusted Net Income and other important information. ($ in thousands, except per share data) 2Q'23 2Q'24 2Q'23 YTD 2Q'24 YTD Management Fees $ 748,888 $ 847,307 $ 1,487,044 $ 1,662,634 Transaction and Monitoring Fees, Net 190,228 222,858 332,407 374,942 Fee Related Performance Revenues 28,352 37,145 50,093 56,246 Fee Related Compensation (217,684) (193,779) (420,778) (366,419) Other Operating Expenses (147,475) (158,134) (297,879) (303,265) Fee Related Earnings $ 602,309 $ 755,397 $ 1,150,887 $ 1,424,138 Insurance Operating Earnings $ 170,224 $ 253,213 $ 375,336 $ 526,053 Strategic Holdings Operating Earnings $ — $ 40,852 $ — $ 61,572 Total Operating Earnings $ 772,533 $ 1,049,462 $ 1,526,223 $ 2,011,763 Net Realized Performance Income 52,249 122,839 113,638 200,837 Net Realized Investment Income 100,839 117,764 265,959 232,306 Total Investing Earnings $ 153,088 $ 240,603 $ 379,597 $ 433,143 Total Segment Earnings $ 925,621 $ 1,290,065 $ 1,905,820 $ 2,444,906 Interest Expense, Net and Other (101,475) (79,952) (189,341) (154,682) Income Taxes on Adjusted Earnings (171,542) (238,244) (344,599) (454,610) Adjusted Net Income $ 652,604 $ 971,869 $ 1,371,880 $ 1,835,614 Adjusted Per Share Measures: FRE per Adjusted Share $ 0.67 $ 0.84 $ 1.29 $ 1.60 TOE per Adjusted Share $ 0.87 $ 1.17 $ 1.71 $ 2.25 ANI per Adjusted Share $ 0.73 $ 1.09 $ 1.54 $ 2.06

4 Total Operating Earnings ($ in millions) $3,048 $3,700 LTM 2Q'23 Actual LTM 2Q'24 Actual Total Operating Earnings • Total Operating Earnings ("TOE") - the sum of Fee Related Earnings, Insurance Operating Earnings and Strategic Holdings Operating Earnings - represents the more recurring portion of KKR's pre-tax earnings. Over time we expect TOE to approximate 70% of Total Segment Earnings • The majority of the increase in TOE, both in the LTM and quarterly periods displayed below, was driven by the growth in Fee Related Earnings. Insurance Operating Earnings for 2Q'24 and 2Q'24 YTD reflect KKR's 100% ownership of Global Atlantic (the results for the historical periods prior to the first quarter of 2024 do not reflect 100% ownership) $773 $1,049 2Q'23 Actual 2Q'24 Actual Note: TOE approximating 70% of Total Segment Earnings over time is a forward-looking statement. This is estimated based on various assumptions, and there is no guarantee that our expectations will be realized as presented. See Appendix for further information and important information regarding estimates and assumptions and cautionary factors about forward-looking statements.

Asset Management Segment Detail

6 Asset Management Segment ($ in thousands, except per share data) 2Q'23 2Q'24 2Q'23 YTD 2Q'24 YTD Management Fees $ 748,888 $ 847,307 $ 1,487,044 $ 1,662,634 Transaction and Monitoring Fees, Net 190,228 222,858 332,407 374,942 Fee Related Performance Revenues 28,352 37,145 50,093 56,246 Fee Related Compensation (217,684) (193,779) (420,778) (366,419) Other Operating Expenses (147,475) (158,134) (297,879) (303,265) Fee Related Earnings $ 602,309 $ 755,397 $ 1,150,887 $ 1,424,138 Realized Performance Income 149,334 482,309 324,732 753,854 Realized Performance Income Compensation (97,085) (359,470) (211,094) (553,017) Net Realized Performance Income $ 52,249 $ 122,839 $ 113,638 $ 200,837 Realized Investment Income 118,022 138,546 312,856 273,299 Realized Investment Income Compensation (17,183) (20,782) (46,897) (40,993) Net Realized Investment Income $ 100,839 $ 117,764 $ 265,959 $ 232,306 Total Investing Earnings $ 153,088 $ 240,603 $ 379,597 $ 433,143 Asset Management Segment Earnings $ 755,397 $ 996,000 $ 1,530,484 $ 1,857,281 Additional Financial Measures and Capital Metrics: FRE per Adjusted Share $ 0.67 $ 0.84 $ 1.29 $ 1.60 Total Asset Management Segment Revenues $ 1,234,824 $ 1,728,165 $ 2,507,132 $ 3,120,975 Assets Under Management $ 518,523,000 $ 601,341,000 $ 518,523,000 $ 601,341,000 Fee Paying Assets Under Management $ 419,994,000 $ 487,320,000 $ 419,994,000 $ 487,320,000 New Capital Raised (AUM) $ 12,783,000 $ 32,432,000 $ 24,460,000 $ 63,038,000 Capital Invested $ 9,590,000 $ 22,733,000 $ 19,357,000 $ 36,837,000 Uncalled Commitments $ 100,154,000 $ 107,707,000 $ 100,154,000 $ 107,707,000 Note: See Appendix for GAAP reconciliations and other important information.

7 • Increased 18% year-over-year driven primarily by the growth in management fees and capital markets transaction fees, in addition to a lower fee related compensation margin Management Fees and Fee Related Earnings Management Fees Fee Related Earnings Per Adjusted Share • Increased by 12% to $3.2 billion in the LTM • Growth has been driven by an increase in Fee Paying AUM from organic capital raised ($ in millions) $2.53 $2.98 61% 65% FRE per adjusted share FRE margin LTM 2Q'23 LTM 2Q'24 $2,071 $2,656 $3,030 $2,864 $3,206 2021 2022 2023 LTM 2Q'23 LTM 2Q'24

8 Assets Under Management • AUM of $601 billion, up 16% year-over-year, with $32 billion of organic new capital raised in the quarter and $108 billion in the LTM • Fee Paying AUM of $487 billion, up 16% year-over-year, with $29 billion of organic new capital raised in the quarter and $109 billion in the LTM • Perpetual Capital of $250 billion, up 25% year-over-year driven primarily by the organic growth of Global Atlantic. Perpetual capital represents 42% of AUM and 50% of FPAUM AUM Fee Paying AUM Perpetual Capital ($ in billions) ($ in billions) ($ in billions) $519 $601 2Q'23 2Q'24 $420 $487 2Q'23 2Q'24 $200 $250 2Q'23 2Q'24 Note: Perpetual capital is capital of indefinite duration, which may be reduced or terminated under certain conditions. See Appendix for endnotes about perpetual capital and other important information.

9 Additional Capital Detail • Dry Powder: Uncalled commitments of $108 billion remain diversified across the firm’s investment strategies • AUM Not Yet Paying Fees: At quarter end, there was $53 billion of committed capital with a weighted average management fee rate of approximately 95 bps that becomes payable when the capital is either invested or enters its investment period • Carry Eligible AUM: Of the $293 billion of carried interest eligible AUM, $215 billion is above cost and accruing carry • Performance Fee Eligible AUM: $356 billion, up 11% year-over-year Performance Fee Eligible AUM Uncalled Commitments ($ in billions) ($ in billions) $321 $356 2Q'23 2Q'24 $100 $108 2Q'23 2Q'24 Note: See Appendix for endnotes for additional information relating to uncalled commitments.

10 Gross unrealized carried interest totals $7.1 billion as of June 30, 2024 Fund Investment Performance Private Equity Real Assets Infrastructure Portfolio Opportunistic Real Estate Portfolio Credit Alternative Credit Composite Traditional Private Equity Portfolio Leveraged Credit Composite 2Q'24 3% LTM Gross Return 1% 18%4% 12%3% 17%3% 12%2% Note: Traditional private equity does not include core or growth. See Appendix for endnotes explaining composition of the portfolios and composites presented on this page and for other important information. Past performance is no guarantee of future results.

11 • AUM: Increased 1% quarter-over-quarter and increased 9% year-over-year to $185 billion with organic new capital raised of $2 billion in the quarter and $6 billion YTD • New capital raised in the quarter was primarily driven by K-Series PE, private equity vehicles designed for private wealth clients, and Ascendant, a U.S. middle market traditional private equity strategy • Realizations: Carried Interest in 2Q driven primarily by traditional private equity secondary sales, strategic transactions and offshore K-Series investment performance • Capital Invested: $3 billion in the quarter and $4 billion YTD. In 2Q, deployment was driven by traditional private equity in the U.S. and as of today, approximately $9 billion of investments are expected to close in 2H'24 • Performance: The traditional private equity portfolio appreciated 18% in the LTM Asset Management Segment − Private Equity ($ in thousands) 2Q'23 2Q'24 2Q'23 YTD 2Q'24 YTD Management Fees $ 320,081 $ 350,650 $ 636,422 $ 693,135 Transaction and Monitoring Fees, Net 33,142 16,640 67,416 32,445 Fee Related Performance Revenues — — — — Fee Related Revenues $ 353,223 $ 367,290 $ 703,838 $ 725,580 Realized Performance Income $ 146,232 $ 327,943 $ 309,284 $ 593,240 Capital Metrics: Assets Under Management $ 170,139,000 $ 185,265,000 $ 170,139,000 $ 185,265,000 Fee Paying Assets Under Management $ 103,730,000 $ 118,240,000 $ 103,730,000 $ 118,240,000 New Capital Raised (AUM) $ 1,992,000 $ 2,071,000 $ 2,341,000 $ 5,661,000 Capital Invested $ 3,207,000 $ 2,578,000 $ 6,070,000 $ 3,728,000 Uncalled Commitments $ 61,171,000 $ 54,925,000 $ 61,171,000 $ 54,925,000 Note: See Appendix for endnotes about our private equity business line and other important information.

12 Asset Management Segment − Real Assets • AUM: Increased 12% quarter-over-quarter and 25% year-over-year to $152 billion with organic new capital raised of $18 billion in the quarter and $24 billion YTD • $24 billion of new capital raised in 1H'24 compares to $5 billion in 1H'23 • New capital raised in the quarter included our first close of Global Infrastructure V, Global Atlantic inflows and K-Series Infrastructure, infrastructure vehicles designed for private wealth clients • Capital raised for Global Infrastructure V's initial close, including activity in July, totals $10 billion • Realizations: Carried Interest in 2Q driven by infrastructure strategic sales • Capital Invested: $8 billion in the quarter and $14 billion YTD. In 2Q, deployment accelerated to the highest level in over two years driven primarily by real estate equity in the U.S. and Asia, infrastructure in Europe and real estate credit • Performance: The infrastructure portfolio appreciated 17% and the opportunistic real estate portfolio appreciated 3% in the LTM ($ in thousands) 2Q'23 2Q'24 2Q'23 YTD 2Q'24 YTD Management Fees $ 201,590 $ 230,085 $ 394,955 $ 450,172 Transaction and Monitoring Fees, Net 5,179 11,752 10,913 29,125 Fee Related Performance Revenues 9,055 16,206 12,759 17,606 Fee Related Revenues $ 215,824 $ 258,043 $ 418,627 $ 496,903 Realized Performance Income $ — $ 124,342 $ 9,686 $ 124,966 Capital Metrics: Assets Under Management $ 121,616,000 $ 151,549,000 $ 121,616,000 $ 151,549,000 Fee Paying Assets Under Management $ 106,118,000 $ 126,574,000 $ 106,118,000 $ 126,574,000 New Capital Raised (AUM) $ 2,812,000 $ 18,023,000 $ 5,425,000 $ 23,881,000 Capital Invested $ 3,250,000 $ 8,245,000 $ 7,916,000 $ 13,701,000 Uncalled Commitments $ 23,840,000 $ 33,106,000 $ 23,840,000 $ 33,106,000 Note: See Appendix for endnotes about our real assets business line and other important information.

13 • AUM: Increased 2% quarter-over-quarter and 17% year-over-year to $265 billion with organic new capital raised of $12 billion in the quarter and $33 billion YTD • $33 billion of new capital raised in 1H'24 compares to $17 billion in 1H'23 • New capital raised in the quarter was widespread and driven by inflows at Global Atlantic, opportunistic asset-based finance, evergreen direct lending in the U.S. and Europe, and CLO formation • AUM comprised of: $127 billion of leveraged credit, $61 billion of asset-based finance, $39 billion of direct lending, $9 billion of strategic investments and $28 billion of liquid strategies • Capital Invested: $12 billion in the quarter and $19 billion YTD. In 2Q, deployment was most active in high grade asset-based finance and direct lending • Performance: Both the leveraged credit composite and alternative credit composite appreciated 12% in the LTM ($ in thousands) 2Q'23 2Q'24 2Q'23 YTD 2Q'24 YTD Management Fees $ 227,217 $ 266,572 $ 455,667 $ 519,327 Transaction and Monitoring Fees, Net 1,493 2,366 1,777 5,554 Fee Related Performance Revenues 19,297 20,939 37,334 38,640 Fee Related Revenues $ 248,007 $ 289,877 $ 494,778 $ 563,521 Realized Performance Income $ 3,102 $ 30,024 $ 5,762 $ 35,648 Capital Metrics: Assets Under Management $ 226,768,000 $ 264,527,000 $ 226,768,000 $ 264,527,000 Fee Paying Assets Under Management $ 210,146,000 $ 242,506,000 $ 210,146,000 $ 242,506,000 New Capital Raised (AUM) $ 7,979,000 $ 12,338,000 $ 16,694,000 $ 33,496,000 Capital Invested $ 3,133,000 $ 11,910,000 $ 5,371,000 $ 19,408,000 Uncalled Commitments $ 15,143,000 $ 19,676,000 $ 15,143,000 $ 19,676,000 Asset Management Segment − Credit and Liquid Strategies

14 • Transaction Fees: Totaled $192 million in the quarter and $308 million YTD • Approximately two-thirds of transaction fees were originated in North America in the quarter • Traditional private equity generated approximately one third of total fees in the quarter, followed by infrastructure and third party at 19% and 16%, respectively • Approximately 75% of transaction fees were debt product focused Asset Management Segment − Capital Markets • All financial results exclude Strategic Holdings • Realizations: Realized Investment Income of $139 million in the quarter and $273 million YTD • Balance Sheet Investment Return: Up 1% in the quarter and up 14% in the LTM • Embedded Gains: $2.8 billion of embedded unrealized gains on the balance sheet at quarter end Asset Management Segment − Principal Activities ($ in thousands) 2Q'23 2Q'24 2Q'23 YTD 2Q'24 YTD Transaction Fees $ 150,414 $ 192,100 $ 252,301 $ 307,818 ($ in thousands) 2Q'23 2Q'24 2Q'23 YTD 2Q'24 YTD Net Realized Gains (Losses) $ 15,342 $ 28,777 $ 127,384 $ 79,332 Interest Income and Dividends, Net 102,680 109,769 185,472 193,967 Realized Investment Income $ 118,022 $ 138,546 $ 312,856 $ 273,299

Insurance Segment Detail

16 • Net Investment Income: Net Investment Income of $1.5 billion in the quarter reflects growth in the investment portfolio attributable to strong net inflows. Investment portfolio yields in the quarter reflect higher levels of cash alongside more liquid investments yet to be rotated, as well as recent deployment in investments with lower near-term yields • Net Cost of Insurance: Net Cost of Insurance totaled $1.1 billion in the quarter, driven primarily by new business growth and the associated higher funding costs, as well the routine run off of older business that was originated in a lower cost environment • Highlights: • Global Atlantic AUM totals $183 billion, of which $139 billion is Credit AUM • Inflows in the quarter were primarily driven by individual sales and flow reinsurance • Global Atlantic, together with KKR, completed multiple strategic "firsts" in the quarter and shortly after quarter end, including: first real estate equity multifamily investment, first investment with the infrastructure team and first capital markets transaction fee generative investment • KKR owned 100% of Global Atlantic beginning 1Q'24. The financial results for all quarters prior to 2024 reflect KKR's ~63% ownership Insurance Segment ($ in thousands) 2Q'23 2Q'24 2Q'23 YTD 2Q'24 YTD Net Investment Income $ 1,283,794 $ 1,538,046 $ 2,555,049 $ 3,024,465 Net Cost of Insurance (811,677) (1,070,616) (1,562,289) (2,073,943) General, Administrative and Other (203,285) (214,217) (399,999) (424,469) Pre-tax Operating Earnings 268,832 253,213 592,761 526,053 Pre-tax Operating Earnings Attributable to Noncontrolling Interests (98,608) — (217,425) — Insurance Operating Earnings $ 170,224 $ 253,213 $ 375,336 $ 526,053 Additional Financial Measure: Global Atlantic Book Value $ 4,353,892 $ 8,317,285 $ 4,353,892 $ 8,317,285 Note: See Appendix for endnotes explaining certain terms. 2Q'24 and 2Q'24 YTD Net Investment Income both included $10 million ($8 million of insurance operating earnings) of realized gains and losses not related to asset/liability matching investment strategies. 2Q'23 and 2Q'23 YTD Net Investment Income both included $2 million ($1 million of insurance operating earnings) of realized gains and losses not related to asset/liability matching investment strategies.

Strategic Holdings Segment Detail

18 Strategic Holdings Segment • Strategic Holdings Segment Earnings: Driven by dividends from our Core PE businesses • Highlights: • Expect Strategic Holdings Operating Earnings will be modest in 2024, $300+ million by 2026, $600+ million by 2028 and $1+ billion by 2030 • KKR's share of the businesses' 1Q'24 LTM Adjusted Revenues is $3.6 billion and 1Q'24 LTM Adjusted EBITDA is $0.9 billion • Capital Invested in Strategic Holdings was $0.4 billion over the LTM ($ in thousands) 2Q'23 2Q'24 2Q'23 YTD 2Q'24 YTD Dividends, Net $ — $ 40,852 $ — $ 61,572 Strategic Holdings Operating Earnings $ — $ 40,852 $ — $ 61,572 Net Realized Investment Income $ — $ — $ — $ — Strategic Holdings Segment Earnings $ — $ 40,852 $ — $ 61,572 LTM Adjusted EBITDA by Geography (KKR's Share) LTM Adjusted EBITDA by Industry (KKR's Share) Americas 65% Europe 30% Asia Pacific 5% Business Services 32% Consumer 29% Health Care 13% TMT 13% Infrastructure 13% Note: See Appendix for endnotes for additional information relating to LTM Adjusted Revenues, LTM Adjusted EBITDA, and Capital Invested. Expectations about Strategic Holdings Operating Earnings over time are forward-looking statements. These are estimated based on various assumptions, and there is no guarantee that our expectations will be realized as presented. See Appendix for further information and important information regarding estimates and assumptions and cautionary factors about forward-looking statements.

Supplemental Information

20 Duration of Capital Growth in Strategic & Perpetual Capital Assets Under Management Perpetual Capital Long-Dated Strategic Investor Partnerships Perpetual Capital Long-Dated Strategic Investor Partnerships 8+ Year Duration at Inception Other ($ in billions) $262 $315 $200 $250 $62 $65 2Q'23 2Q'24 93% of AUM is perpetual capital or has a duration of at least 8 years at inception 7% 42% 11% 40% 53% of AUM is perpetual capital or long-dated strategic investor partnerships Note: Perpetual capital is capital of indefinite duration, which may be materially reduced or terminated under certain conditions. See Appendix for endnotes and other important information.

21 Assets Under Management Rollforward Six Months Ended June 30, 2024 ($ in millions) Private Equity Real Assets Credit and Liquid Strategies Total Beginning Balance $ 176,377 $ 130,933 $ 245,491 $ 552,801 New C apital R aised 5,661 23,881 33,496 63,038 D is tributions and O ther (5,313) (4,081) (17,853) (27,247) C hange in Value 8,540 816 3,393 12,749 Ending Balance $ 185,265 $ 151,549 $ 264,527 $ 601,341 ($ in millions) Private Equity Real Assets Credit and Liquid Strategies Total Beginning Balance $ 182,766 $ 135,362 $ 259,505 $ 577,633 New C apital R aised 2,071 18,023 12,338 32,432 D is tributions and O ther (3,396) (2,223) (8,901) (14,520) C hange in Value 3,824 387 1,585 5,796 Ending Balance $ 185,265 $ 151,549 $ 264,527 $ 601,341 Three Months Ended June 30, 2024 Note: See Appendix for endnotes about distributions, redemptions and other important information.

22 Fee Paying Assets Under Management Rollforward ($ in millions) Private Equity Real Assets Credit and Liquid Strategies Total Beginning Balance $ 116,287 $ 115,649 $ 238,667 $ 470,603 New C apital R aised 2,442 15,272 11,471 29,185 D is tributions and O ther (585) (3,794) (9,087) (13,466) C hange in Value 96 (553) 1,455 998 Ending Balance $ 118,240 $ 126,574 $ 242,506 $ 487,320 ($ in millions) Private Equity Real Assets Credit and Liquid Strategies Total Beginning Balance $ 107,726 $ 112,254 $ 226,428 $ 446,408 New C apital R aised 11,917 21,549 31,362 64,828 D is tributions and O ther (1,571) (5,862) (18,109) (25,542) C hange in Value 168 (1,367) 2,825 1,626 Ending Balance $ 118,240 $ 126,574 $ 242,506 $ 487,320 Six Months Ended June 30, 2024 Three Months Ended June 30, 2024 Note: See Appendix for endnotes about distributions, redemptions and other important information.

23 Investment Vehicle Summary ($ in thousands) 4Q'21 4Q'22 FY'21 FY'22 Net Investment Income $ 1,352,187 $ 1,230,677 $ 3,329,570 $ 4,112,244 Net Cost of Insurance (490,115) (751,332) (1,566,681) (2,415,996) General, Administrative and Other (162,085) (164,923) (500,410) (637,718) Pre-tax Insurance Operating Earnings 699,987 314,422 1,262,479 1,058,530 Income Taxes (135,947) (45,817) (199,095) (171,744) Net Income Attributable to Noncontrolling Interests (217,263) (103,464) (410,833) (341,582) Insurance Segment Operating Earnings $ 346,777 $ 165,141 $ 652,551 $ 545,204 Additional Financial Measures: Global Atlantic Book Value $ 3,372,498 $ 3,929,710 $ 3,372,498 $ 3,929,710 ($ in millions) Investment Period Amount Start Date End Date Commitment Uncalled Commitments Invested Realized Remaining Cost Remaining Fair Value PRIVATE EQUITY BUSINESS LINE North America Fund XIII 8/2021 8/2027 $ 18,400 $ 8,200 $ 10,199 $ 12 $ 9,947 $ 12,276 Americas Fund XII 5/2017 5/2021 13,500 1,614 12,493 11,270 9,234 17,736 North America Fund XI 11/2012 1/2017 8,718 48 10,165 23,097 2,526 3,283 2006 Fund(1) 9/2006 9/2012 17,642 — 17,309 37,423 — — Millennium Fund(1) 12/2002 12/2008 6,000 — 6,000 14,129 — — Ascendant Fund 6/2022 6/2028 4,097 4,097 — — — — European Fund VI 6/2022 6/2028 7,437 5,774 1,663 — 1,663 1,028 European Fund V 7/2019 2/2022 6,365 729 5,751 1,320 5,486 7,247 European Fund IV 2/2015 3/2019 3,512 20 3,643 5,726 1,621 2,608 European Fund III(1) 3/2008 3/2014 5,506 146 5,360 10,625 151 20 European Fund II(1) 11/2005 10/2008 5,751 — 5,751 8,533 — — Asian Fund IV 7/2020 7/2026 14,735 8,321 7,129 715 6,893 10,107 Asian Fund III 8/2017 7/2020 9,000 1,328 8,192 6,658 6,602 13,298 Asian Fund II 10/2013 3/2017 5,825 — 7,494 6,694 2,697 1,971 Asian Fund(1) 7/2007 4/2013 3,983 — 3,974 8,728 — — Next Generation Technology Growth Fund III 11/2022 11/2028 2,740 2,321 419 — 419 490 Next Generation Technology Growth Fund II 12/2019 5/2022 2,088 88 2,197 548 1,952 3,221 Next Generation Technology Growth Fund 3/2016 12/2019 659 4 670 1,235 258 871 Health Care Strategic Growth Fund II 5/2021 5/2027 3,789 2,498 1,291 — 1,291 1,414 Health Care Strategic Growth Fund 12/2016 4/2021 1,331 111 1,350 283 1,108 1,853 Global Impact Fund II 6/2022 6/2028 2,704 1,885 819 — 819 744 Global Impact Fund 2/2019 3/2022 1,242 211 1,207 483 1,028 1,732 Co-Investment Vehicles and Other Various Various 22,741 3,279 20,038 10,486 14,400 17,461 Core Investors II 8/2022 8/2027 11,814 8,963 2,851 — 2,851 3,241 Core Investors I 2/2018 8/2022 8,500 23 9,369 1,106 8,469 16,312 Other Core Vehicles Various Various 5,133 1,248 3,955 1,444 3,491 6,272 Unallocated Commitments(2) N/A N/A 3,969 3,969 — — — — Total Private Equity $ 197,181 $ 54,877 $ 149,289 $ 150,515 $ 82,906 $ 123,185 Note: Past performance is no guarantee of future results. See Appendix for endnotes about investment period start and end dates. (1) The “Invested" and “Realized” columns do not include the amounts of any realized investments that restored the unused capital commitments of the fund investors, if any. (2) Represents unallocated commitments from our strategic investor partnerships.

24 Investment Vehicle Summary (cont’d) Note: Past performance is no guarantee of future results. See Appendix for endnotes about investment period start and end dates. (1) Open ended fund. ($ in millions) Investment Period Amount Start Date End Date Commitment Uncalled Commitments Invested Realized Remaining Cost Remaining Fair Value REAL ASSETS BUSINESS LINE Global Infrastructure Investors V 7/2024 7/2030 $ 8,290 $ 8,290 $ — $ — $ — $ — Global Infrastructure Investors IV 8/2021 6/2024 16,592 6,896 10,068 371 9,856 11,957 Global Infrastructure Investors III 7/2018 6/2021 7,166 984 6,528 2,443 5,246 7,752 Global Infrastructure Investors II 12/2014 6/2018 3,040 130 3,166 5,386 711 1,143 Global Infrastructure Investors 9/2010 10/2014 1,040 — 1,050 2,228 — — Asia Pacific Infrastructure Investors II 9/2022 9/2028 6,348 5,032 1,322 7 1,291 1,523 Asia Pacific Infrastructure Investors 1/2020 9/2022 3,792 615 3,462 951 2,875 3,411 Diversified Core Infrastructure Fund 12/2020 (1) 10,243 1,315 8,947 744 8,869 9,511 Real Estate Partners Americas III 1/2021 1/2025 4,253 1,540 2,915 308 2,709 2,723 Real Estate Partners Americas II 5/2017 12/2020 1,921 240 1,965 2,698 449 437 Real Estate Partners Americas 5/2013 5/2017 1,229 135 1,024 1,438 16 10 Real Estate Partners Europe II 3/2020 12/2023 2,061 418 1,848 431 1,539 1,518 Real Estate Partners Europe 8/2015 12/2019 707 97 689 775 201 199 Asia Real Estate Partners 7/2019 7/2023 1,682 399 1,314 203 1,208 1,335 Property Partners Americas 12/2019 (1) 2,571 48 2,523 159 2,523 2,215 Real Estate Credit Opportunity Partners II 8/2019 6/2023 950 — 976 281 976 933 Real Estate Credit Opportunity Partners 2/2017 4/2019 1,130 122 1,008 544 1,008 996 Energy Related Vehicles Various Various 4,385 62 4,191 1,945 1,186 1,745 Co-Investment Vehicles & Other Various Various 13,365 6,112 7,282 1,749 6,871 6,831 Total Real Assets $ 90,765 $ 32,435 $ 60,278 $ 22,661 $ 47,534 $ 54,239

25 Investment Vehicle Summary (cont’d) & Additional AUM Detail ($ in millions) Uncalled Commitments Remaining Fair Value Total C arried Interes t E ligible $ 101,813 $ 191,470 $ 293,283 Incentive F ee E ligible — 62,326 62,326 Total Performance Fee Eligible 101,813 253,796 355,609 P rivate E quity and R eal Assets 719 58,269 58,988 C redit and L iquid S trategies 5,175 181,569 186,744 Total Assets Under Management $ 107,707 $ 493,634 $ 601,341 ($ in millions) Investment Period Amount Start Date End Date Commitment Uncalled Commitments Invested Realized Remaining Cost Remaining Fair Value CREDIT AND LIQUID STRATEGIES BUSINESS LINE(1) Opportunities Fund II 11/2021 1/2026 $ 2,344 $ 1,394 $ 950 $ 20 $ 950 $ 1,056 Dislocation Opportunities Fund 8/2019 11/2021 2,967 432 2,535 1,565 1,469 1,647 Special Situations Fund II 2/2015 3/2019 3,525 284 3,241 2,440 939 1,073 Special Situations Fund 1/2013 1/2016 2,274 1 2,273 1,899 337 177 Mezzanine Partners 7/2010 3/2015 1,023 33 990 1,166 184 119 Asset-Based Finance Partners 10/2020 7/2025 2,059 893 1,166 125 1,166 1,294 Private Credit Opportunities Partners II 12/2015 12/2020 2,245 354 1,891 902 1,240 1,202 Lending Partners IV 3/2022 9/2026 1,150 518 632 67 633 677 Lending Partners III 4/2017 11/2021 1,498 540 958 870 701 681 Lending Partners II 6/2014 6/2017 1,336 157 1,179 1,198 151 88 Lending Partners 12/2011 12/2014 460 40 420 458 23 12 Lending Partners Europe II 5/2019 9/2023 837 210 627 381 450 471 Lending Partners Europe 3/2015 3/2019 848 184 662 470 184 184 Asia Credit 1/2021 5/2025 1,084 506 578 35 578 671 Other Alternative Credit Vehicles Various Various 16,940 8,955 8,047 6,421 4,128 4,694 Total Credit and Liquid Strategies $ 40,590 $ 14,501 $ 26,149 $ 18,017 $ 13,133 $ 14,046 Total Eligible To Receive Carried Interest $ 328,536 $ 101,813 $ 235,716 $ 191,193 $ 143,573 $ 191,470 Note: Past performance is no guarantee of future results. See Appendix for endnotes about investment period start and end dates. (1) The “Commitment” and “Uncalled Commitments” columns include income that is eligible to be reinvested if permitted under the terms of the investment vehicle agreements.

26 • Represents Asset Management Segment investments, corporate cash, short-term investments and debt. Investments presented here excludes the Insurance and Strategic Holdings Segments • Cash and Investments total $15.5 billion at 2Q'24 • Embedded Gains total $2.8 billion at 2Q'24 • KKR maintains a strong financial profile • KKR & Co. Inc. is 'A' rated by both S&P and Fitch • Average maturity of debt is approximately 16 years with a weighted average fixed coupon of 3% after-tax • $2.75 billion of undrawn corporate credit revolver capacity Net Cash & Investments Highlights ($ in millions) 2Q'24 Cash and Short-term Investments $ 4,472 Investments - Asset Management 10,984 Cash and Investments $ 15,456 Outstanding Debt (at par)(1) 8,566 Net Cash and Investments $ 6,890 Gross Unrealized Performance Income(2) 7,124 Note: See Appendix for GAAP reconciliations, endnotes about investments and other important information. (1) Outstanding Debt (at par) includes $7,617 million and $949 million of KKR and KFN debt, respectively. (2) Assuming a 75% compensation accrual (using the mid-point of the guided range) on gross unrealized performance income, net unrealized performance income would be $1.8 billion. Investment Holdings by Asset Class (Fair Value) Traditional Private Equity 25% Growth Equity 10% Leveraged Credit 13% Energy 6% Infrastructure 6% Real Estate 12% Alternative Credit 8% Other 20%

27 Stock Summary From December 31, 2023 through July 26, 2024, KKR used a total of $93 million to retire equity awards representing 0.9 million shares that otherwise would have been issued to participants under KKR's equity incentive plans. During this period, retirements were made at an average cost of $100.58 per share. Common Stock Repurchase Activity (Amounts in millions, except per share amounts) Inception to Date(1) Open Market Share Repurchases 67.3 Reduction of Shares for Retired Equity Awards(2) 25.5 Total Repurchased Shares and Retired Equity Awards 92.8 Total Capital Used $2,604 Average Price Paid Per Share $28.05 Remaining Availability under Share Repurchase Plan $101 Adjusted Shares 4Q'23 2Q'24 Common Stock 885,005,588 887,439,098 Exchangeable Securities(3) 4,463,644 7,005,071 Adjusted Shares(4) 889,469,232 894,444,169 (1) KKR & Co. Inc.'s initial repurchase authorization was announced on October 27, 2015. Information is through July 26, 2024. (2) Refers to the retirement of equity awards issued pursuant to KKR & Co. Inc.’s equity incentive plans. (3) Includes certain securities exchangeable into shares of common stock of KKR & Co. Inc. (4) Excludes unvested shares granted under the equity incentive plans.

28 Dividends A dividend of $0.175 per share of common stock of KKR & Co. Inc. has been declared for the second quarter of 2024, which will be paid on August 27, 2024 to holders of record of common stock as of the close of business on August 12, 2024. The declaration and payment of any future dividends on common stock will be subject to the discretion of the board of directors of KKR & Co. Inc. based on a number of factors, including KKR’s future financial performance and other considerations that the board deems relevant, the terms of KKR & Co. Inc.'s certificate of incorporation and applicable law. There can be no assurance that future dividends will be made as intended or at all or that any particular dividend policy for common stock will be maintained. Senior Notes In the second quarter, KKR issued five tranches of Japanese yen-denominated senior notes totaling ¥91.4 billion through its finance subsidiaries, including ¥44.6 billion of 1.559% Senior Notes due 2029, ¥1.0 billion of 1.762% Senior Notes due 2031, ¥26.2 billion of 2.083% Senior Notes due 2034, ¥10.0 billion of 2.719% Senior Notes due 2044, and ¥9.6 billion of 3.008% Senior Notes due 2054. These notes are unsecured and unsubordinated obligations of KKR. Dividends & Other Corporate Information

Appendix

30 GAAP Condensed Consolidated Income Statement (Unaudited) ($ in thousands) 2Q'23 2Q'24 2Q'23 YTD 2Q'24 YTD Revenues Asset Management and Strategic Holdings Fees and Other $ 754,447 $ 822,324 $ 1,431,463 $ 1,515,850 Capital Allocation-Based Income (Loss) 696,897 738,125 1,145,915 2,001,067 1,451,344 1,560,449 2,577,378 3,516,917 Insurance Net Premiums 626,429 935,794 1,100,053 6,972,316 Policy Fees 315,382 333,900 629,184 662,847 Net Investment Income 1,311,055 1,580,498 2,611,752 3,100,400 Net Investment-Related Gains (Losses) (117,550) (302,620) (241,383) (544,106) Other Income 39,858 63,889 77,016 120,274 2,175,174 2,611,461 4,176,622 10,311,731 Total Revenues $ 3,626,518 $ 4,171,910 $ 6,754,000 $ 13,828,648 Expenses Asset Management and Strategic Holdings Compensation and Benefits $ 657,114 $ 895,165 $ 1,232,784 $ 2,211,613 Occupancy and Related Charges 23,593 23,306 45,742 46,846 General, Administrative and Other 289,586 304,489 503,275 582,470 970,293 1,222,960 1,781,801 2,840,929 Insurance Net Policy Benefits and Claims 1,736,014 2,199,160 3,263,068 9,460,229 Amortization of Policy Acquisition Costs 170 32,808 44,381 29,056 Interest Expense 39,832 65,750 80,093 120,317 Insurance Expenses 172,121 244,954 397,439 444,190 General, Administrative and Other 204,052 180,697 415,783 364,552 2,152,189 2,723,369 4,200,764 10,418,344 Total Expenses $ 3,122,482 $ 3,946,329 $ 5,982,565 $ 13,259,273 Investment Income (Loss) - Asset Management and Strategic Holdings Net Gains (Losses) from Investment Activities 570,085 392,667 410,676 1,030,829 Dividend Income 246,939 471,349 395,106 716,406 Interest Income 850,061 903,861 1,578,677 1,793,963 Interest Expense (720,108) (783,253) (1,296,446) (1,537,317) Total Investment Income (Loss) $ 946,977 $ 984,624 $ 1,088,013 $ 2,003,881 Income Tax Expense (Benefit) 324,955 216,969 473,702 486,170 Redeemable Noncontrolling Interests (1,740) 29,666 (9,043) 62,344 Noncontrolling Interests 266,086 295,644 193,083 674,602 Preferred Stock Dividends 17,249 — 34,499 — Net Income (Loss) - KKR Common Stockholders $ 844,463 $ 667,926 $ 1,167,207 $ 1,350,140

31 GAAP Condensed Consolidated Balance Statement (Unaudited) ($ in thousands) 4Q'23 2Q'24 Assets Asset Management and Strategic Holdings Cash and Cash Equivalents $ 8,393,892 $ 7,829,321 Investments 98,634,801 102,046,987 Other Assets 6,538,674 6,865,896 113,567,367 116,742,204 Insurance Cash and Cash Equivalents 11,954,675 7,710,857 Investments 141,370,323 163,502,261 Other Assets 50,401,829 60,513,857 203,726,827 231,726,975 Total Assets $ 317,294,194 $ 348,469,179 Liabilities and Equity Asset Management and Strategic Holdings Debt Obligations $ 44,886,870 $ 45,396,247 Other Liabilities 8,256,514 10,313,965 53,143,384 55,710,212 Insurance Debt Obligations 2,587,857 3,698,209 Other Liabilities 203,184,041 230,530,791 205,771,898 234,229,000 Total Liabilities $ 258,915,282 $ 289,939,212 Redeemable Noncontrolling Interests 615,427 1,291,487 Stockholders' Equity Stockholders' Equity - Common Stock 22,858,694 21,673,103 Noncontrolling Interests 34,904,791 35,565,377 Total Equity $ 57,763,485 $ 57,238,480 Total Liabilities and Equity $ 317,294,194 $ 348,469,179

32 Reconciliation of GAAP to Non-GAAP Shares (Unaudited) 2Q'23 2Q'24 2Q'23 YTD 2Q'24 YTD Weighted Average GAAP Shares of Common Stock Outstanding - Basic 861,553,274 887,394,513 861,332,121 886,200,169 Adjustments: Weighted Average Exchangeable Securities and Other 30,764,243 7,009,382 30,144,421 6,374,499 Weighted Average Adjusted Shares 892,317,517 894,403,895 891,476,542 892,574,668 2Q'23 3Q'23 4Q'23 1Q'24 2Q'24 GAAP Shares of Common Stock Outstanding 857,987,641 884,585,205 885,005,588 885,010,967 887,439,098 Adjustments: Exchangeable Securities and Other 30,804,276 3,909,477 4,463,644 5,768,290 7,005,071 Adjusted Shares 888,791,917 888,494,682 889,469,232 890,779,257 894,444,169 Unvested Shares of Common Stock and Exchangeable Securities(1) 31,110,978 30,327,497 41,660,450 53,466,767 56,333,182 (1) Excludes equity awards that have not met their market-price based vesting conditions.

33 Reconciliation of GAAP to Non-GAAP Measures (Unaudited) (1) Represents equity-based compensation expense in connection with non-dilutive share grants from outstanding units in KKR Holdings. (2) Amounts represent the portion allocable to KKR. ($ in thousands) 2Q'23 2Q'24 2Q'23 YTD 2Q'24 YTD 2Q'23 LTM 2Q'24 LTM Net Income (L oss ) - K K R C ommon S tockholders $ 844,463 $ 667,926 $ 1,167,207 $ 1,350,140 $ 1,320,954 $ 3,863,447 Preferred Stock Dividends 17,249 — 34,499 — 68,999 17,248 Net Income (Loss) Attributable to Noncontrolling Interests 264,346 325,310 184,040 736,946 139,873 2,177,731 Income Tax Expense (Benefit) 324,955 216,969 473,702 486,170 664,955 1,209,991 Income (Loss) Before Tax (GAAP) $ 1,451,013 $ 1,210,205 $ 1,859,448 $ 2,573,256 $ 2,194,781 $ 7,268,417 Impact of Consolidation and Other (257,366) (151,775) (163,855) (343,294) (35,905) (1,749,030) Equity-based Compensation - KKR Holdings(1) — — — — 19,500 — Income Taxes on Adjusted Earnings (171,542) (238,244) (344,599) (454,610) (783,019) (873,393) Asset Management Adjustments: Unrealized (Gains) Losses (235,521) (76,175) (115,587) (475,253) 809,787 (1,203,293) Unrealized Carried Interest (435,495) (190,143) (638,154) (1,136,959) 741,805 (2,155,779) Unrealized Carried Interest Compensation 195,361 153,003 279,191 910,455 (313,979) 1,424,022 Transaction-related and Non-operating Items 7,192 1,308 13,999 62,983 38,424 80,789 Equity-based Compensation 45,261 66,535 104,278 140,312 209,341 266,892 Equity-based Compensation - Performance based 63,654 83,050 130,927 163,618 252,072 304,649 Strategic Holdings Adjustments: Unrealized (Gains) Losses (222,790) (344,709) (243,397) (417,966) (667,717) (865,876) Insurance Adjustments(2): (Gains) Losses from Investments(2) 125,483 312,614 256,597 559,531 427,307 666,890 Non-operating Changes in Policy Liabilities and Derivatives(2) 57,463 106,465 163,954 180,328 22,242 245,303 Transaction-related and Non-operating Items(2) 3,199 — 3,199 — 12,445 4,148 Equity-based and Other Compensation(2) 23,898 35,323 60,291 64,389 120,837 75,677 Amortization of Acquired Intangibles(2) 2,794 4,412 5,588 8,824 11,014 14,411 Adjusted Net Income $ 652,604 $ 971,869 $ 1,371,880 $ 1,835,614 $ 3,058,935 $ 3,503,827 Interest Expense, Net 95,357 77,101 177,597 149,908 331,560 298,230 Net Income Attributable to Noncontrolling Interests 6,118 2,851 11,744 4,774 22,793 18,980 Income Taxes on Adjusted Earnings 171,542 238,244 344,599 454,610 783,019 873,393 Total Segment Earnings $ 925,621 $ 1,290,065 $ 1,905,820 $ 2,444,906 $ 4,196,307 $ 4,694,430 Net Realized Performance Income (52,249) (122,839) (113,638) (200,837) (474,768) (486,148) Net Realized Investment Income (100,839) (117,764) (265,959) (232,306) (673,606) (507,788) Total Operating Earnings $ 772,533 $ 1,049,462 $ 1,526,223 $ 2,011,763 $ 3,047,933 $ 3,700,494 Strategic Holdings Operating Earnings — (40,852) — (61,572) (20,316) (76,103) Insurance Operating Earnings (170,224) (253,213) (375,336) (526,053) (775,536) (967,354) Fee Related Earnings $ 602,309 $ 755,397 $ 1,150,887 $ 1,424,138 $ 2,252,081 $ 2,657,037

34 Reconciliation of GAAP to Non-GAAP Measures (Unaudited) ($ in thousands) 2Q'23 2Q'24 2Q'23 YTD 2Q'24 YTD Total Operating Earnings $ 772,533 $ 1,049,462 $ 1,526,223 $ 2,011,763 Total Investing Earnings 153,088 240,603 379,597 433,143 Depreciation and Amortization 11,051 12,549 21,485 25,052 Adjusted EBITDA $ 936,672 $ 1,302,614 $ 1,927,305 $ 2,469,958 ($ in thousands) 2Q'23 2Q'24 2Q'23 YTD 2Q'24 YTD Total GAAP Revenues $ 3,626,518 $ 4,171,910 $ 6,754,000 $ 13,828,648 Insurance GAAP Revenues (2,175,174) (2,611,461) (4,176,622) (10,311,731) Impact of Consolidation and Other 146,365 222,171 301,213 443,119 Capital Allocation-Based Income (Loss) (GAAP) (696,897) (738,125) (1,145,915) (2,001,067) Realized Carried Interest - Asset Management 146,232 458,559 318,921 708,827 Realized Investment Income - Asset Management 118,022 138,546 312,856 273,299 Insurance Segment Management Fees 110,638 127,113 218,908 239,551 Strategic Holdings Segment Management Fees — 8,183 — 15,667 Capstone Fees (24,040) (21,563) (43,845) (40,077) Expense Reimbursements (16,840) (27,168) (32,384) (35,261) Total Asset Management Segment Revenues $ 1,234,824 $ 1,728,165 $ 2,507,132 $ 3,120,975

35 Reconciliation of GAAP to Non-GAAP Measures (Unaudited) ($ in thousands) 2Q'24 KKR & Co. Inc. Stockholders' Equity - Common Stock - GAAP $ 21,673,103 Asset Management and Strategic Holdings Net Assets and Other(1) (19,978,651) Accumulated Other Comprehensive Income and Other (Insurance)(2) 6,622,833 Global Atlantic Book Value $ 8,317,285 ($ in thousands) 2Q'24 Cash and Cash Equivalents - Asset Management and Strategic Holdings - GAAP $ 7,829,321 Impact of Consolidation and Other(3) (3,859,958) Short-term Investments 502,393 Cash and Short-term Investments $ 4,471,756 ($ in thousands) 2Q'24 Investments - Asset Management and Strategic Holdings - GAAP $ 102,046,987 Impact of Consolidation and Other(3) (90,560,421) Short-term Investments (502,393) Investments - Asset Management Segment $ 10,984,173 ($ in thousands) 2Q'24 Debt Obligations - Asset Management and Strategic Holdings - GAAP $ 45,396,247 Impact of Consolidation and Other(3) (36,938,090) Unamortized Discount/Premium and Deferred Financing Costs 107,586 Outstanding Debt (at par) $ 8,565,743 (1) This adjustment represents the net assets allocated to the Asset Management and Strategic Holdings segments. (2) To calculate Global Atlantic book value and to make it more comparable with the corresponding metric presented by other publicly traded companies in Global Atlantic’s industry, Global Atlantic book value excludes (i) accumulated other comprehensive income and (ii) accumulated change in fair value of reinsurance balances and related assets, net of income tax. (3) The purpose of these adjustments is to present these non-GAAP measures without giving effect to the consolidation of the investment vehicles and collateralized financing entities that KKR manages. We believe that providing these non-GAAP measures on a supplemental basis to our GAAP results is helpful to equity holders in assessing the overall financial condition of KKR.

36 • The leveraged credit composite refers to the composite of certain investment portfolios made in KKR’s collateralized loan obligations and U.S. and European leveraged credit strategies including leveraged loans, high-yield bonds and opportunistic credit. • The alternative credit composite refers to the composite of certain investment portfolios made in KKR's private credit strategy, including direct lending (including our business development company), asset-based finance and junior capital, and in the Strategic Investments Group ("SIG") strategy. Funds and separately managed accounts in liquidation or discontinued strategies are excluded. • For a list of our carry paying funds, see the Investment Vehicle Summary on pages 23 to 25. See also “Important Information – Other Legal Disclosures” regarding past performance and investment returns. Note to Page 11 – Asset Management Segment – Private Equity • Except as otherwise noted, amounts referencing the private equity business line include amounts related to core private equity, including KKR's participation through the Strategic Holdings segment. • The offshore K-Series Private Equity vehicle's performance fees are reflected in Realized Performance Income in 2Q'24. The onshore K-Series Private Equity vehicle's performance fees, if earned, will be reflected in 3Q'24 Realized Performance Income. Note to Page 12 – Asset Management Segment – Real Assets • The offshore K-Series Infrastructure vehicle's incentive fees are reflected in Fee Related Performance Revenues in 2Q'24. The onshore K-Series Infrastructure vehicle's incentive fees, if earned, will be reflected in 3Q'24 Fee Related Performance Revenues. Notes to Page 16 – Insurance Segment • Net investment income represents income earned on invested assets, net of investment-related expenses, including investment management fees paid to KKR. • Net cost of insurance represents the net cost of funding institutional and individual products – interest credited or incurred, benefits incurred, the associated insurance expenses, net of any premiums, fees and other income earned. • Global Atlantic AUM of $183 billion includes the Ivy family of vehicles. . Note to All Pages • All figures in this presentation are as of June 30, 2024, unless otherwise specifically indicated. • References to LTM means last twelve months. Note to Page 3 – Second Quarter 2024 Segment Earnings • The amount of tax benefit from equity-based compensation for 2Q'24 and 2Q'23 was $29.4 million and $10.5 million, respectively, and for 2Q'24 YTD and 2Q'23 YTD was $55.6 million and $24.2 million, respectively. Its inclusion in Adjusted Net Income had the effect of increasing this metric for 2Q'24 and 2Q'23 by 3% and 2%, respectively, and for 2Q'24 YTD and 2Q'23 YTD by 3% and 2%, respectively. Note to Page 8 – Assets Under Management • Perpetual capital refers to a component of AUM that has an indefinite term and for which there is no predetermined requirement to return invested capital to investors upon the realization of investments. Perpetual capital includes the AUM of our registered funds, certain unregistered funds, listed companies, and insurance companies, and it excludes our traditional private equity funds, similarly structured investment funds, collateralized loan obligations, hedge fund partnerships and certain other investment vehicles. Investors should not view this component of our AUM as being permanent without exception, because it can be subject to material reductions and even termination. Perpetual capital is subject to material reductions from changes in valuation and withdrawals by or payments to investors, clients and policyholders (including through elections by investors to redeem their fund investments, periodic dividends, and payment obligations under insurance policies and reinsurance agreements) as well as termination by a client of, or failure to renew, its investment management agreement with KKR. Note to Page 9 – Additional Capital Detail • KKR’s portion of Uncalled Commitments to its investment funds includes $4.6 billion, $2.9 billion and $1.2 billion to its Private Equity, Real Assets and Credit and Liquid Strategies business lines, respectively. Notes to Page 10 – Fund Investment Performance • Traditional private equity portfolio refers to the portfolio of investments held by all KKR’s private equity flagship funds. This portfolio does not include investments from KKR’s growth equity or core private equity. • Opportunistic real estate portfolio refers to the portfolio of investments held by KKR’s flagship opportunistic real estate equity funds. This portfolio does not include investments from KKR's core plus real estate funds or real estate credit funds. • Infrastructure portfolio refers to the portfolio of investments held by KKR’s flagship core plus infrastructure equity funds. This portfolio does not include investments from KKR’s core infrastructure fund, KKR Diversified Core Infrastructure. Important Information − Endnotes

37 Notes to Page 18 – Strategic Holdings Segment • The adjusted revenue and adjusted EBITDA information represents the measures management currently uses to monitor the operating performance of the businesses. • The Capital Invested for Strategic Holdings segment is included in Private Equity Capital Invested within the Asset Management segment and relates to Core Private Equity. • LTM Adjusted EBITDA is shown based on the geographic location of the businesses' headquarters. • LTM Adjusted revenue and EBITDA represents KKR’s look-through ownership percentage for each of these companies in the aggregate as a result of the firm's investments in these companies through its participation in our core private equity strategy multiplied by the revenue and EBITDA of each portfolio company, respectively. Non-U.S. dollar businesses have been converted at the period-ending foreign exchange rate. The calculation reflects the underlying revenue or EBITDA growth of investments made in the preceding periods, assuming those businesses were owned for the full acquisition year and are shown on a constant currency / constant ownership percentage basis. We believe this is helpful to the investor to show a steady state growth profile of the underlying portfolio on an organic basis. • A reconciliation of the forecasts for certain non-GAAP measures, including Strategic Holdings Operating Earnings to their corresponding GAAP measures has not been provided due to the unreasonable efforts it would take to provide such a reconciliation. Notes to Page 20 – Duration of Capital • Please see endnote for page 8 for information about the term "perpetual capital." • "Other" in the chart primarily includes hedge fund partnerships and certain leveraged credit funds. Notes to Page 21 – Assets Under Management Rollforward • For the three months ended June 30, 2024, Distributions and Other includes $2 million of redemptions by fund investors in Private Equity, $65 million of redemptions by fund investors in Real Assets and $1,746 million of redemptions by fund investors in Credit and Liquid Strategies. • For the six months ended June 30, 2024, Distributions and Other includes $2 million of redemptions by fund investors in Private Equity, $193 million of redemptions by fund investors in Real Assets and $4,639 million of redemptions by fund investors in Credit and Liquid Strategies. Notes to Page 22 – Fee Paying Assets Under Management Rollforward • For the three months ended June 30, 2024, Distributions and Other includes net changes in fee base of certain Real Assets funds of $2,137 million, $2 million of redemptions by fund investors in Private Equity, $65 million of redemptions by fund investors in Real Assets and $1,746 million of redemptions by fund investors in Credit and Liquid Strategies. Important Information − Endnotes (cont’d) • For the six months ended June 30, 2024, Distributions and Other includes net changes in fee base of certain Real Assets funds of $2,137 million, $2 million of redemptions by fund investors in Private Equity, $193 million of redemptions by fund investors in Real Assets, and $4,639 million of redemptions by fund investors in Credit and Liquid Strategies. Notes to Pages 23 to 25 – Investment Vehicle Summary • The start date represents the start of the fund's investment period as defined in the fund's governing documents and may or may not be the same as the date upon which management fees begin to accrue. • The end date represents the end of the fund's investment period as defined in the fund's governing documents and is generally not the date upon which management fees cease to accrue. For funds that initially charge management fees on the basis of committed capital, the end date is generally the date on or after which the management fees begin to be calculated instead on the basis of invested capital and may, for certain funds, begin to be calculated using a lower rate. • This table includes investment vehicles which are not investment funds. The terms investments and investment vehicles are terms used solely for purposes of financial presentation. Note to Page 26 – Net Cash & Investments Highlight • The Investment amounts do not include KKR's ownership of the Global Atlantic insurance companies through KKR's insurance segment or KKR's participation in the core private equity strategy through KKR's Strategic Holdings segment. • The term “investments” has been presented solely for purposes of demonstrating the financial performance of certain assets contained on KKR’s balance sheet, including majority ownership of subsidiaries that operate KKR’s asset management, insurance businesses, broker-dealer and other businesses, including the general partner interests of KKR’s investment funds. • Traditional private equity includes KKR's traditional private equity funds, co-investments alongside such KKR sponsored private equity funds, and other opportunistic investments. Equity investments in other asset classes, such as growth equity, energy, real estate, infrastructure, leveraged credit and alternative credit appear in these other asset classes.

38 Important Information − Non-GAAP and Other Measures • Adjusted Net Income is a performance measure of KKR’s earnings, which is derived from KKR’s reported segment results. ANI is used to assess the performance of KKR’s business operations and measures the earnings potentially available for distribution to its equity holders or reinvestment into its business. ANI is equal to Total Segment Earnings less Interest Expense, Net and Other and Income Taxes on Adjusted Earnings. Interest Expense, Net and Other includes interest expense on debt obligations not attributable to any particular segment net of interest income earned on cash and short- term investments. Income Taxes on Adjusted Earnings represents the (i) amount of income taxes that would be paid assuming that all pre-tax Asset Management and Strategic Holdings segment earnings were allocated to KKR & Co. Inc. and taxed at the same effective rate, which assumes that all securities exchangeable into shares of common stock of KKR & Co. Inc. were exchanged and (ii) amount of income taxes on Insurance Operating Earnings. Income taxes on Insurance Operating Earnings represent the total current and deferred tax expense or benefit on income before taxes adjusted to eliminate the impact of the tax expense or benefit associated with the non-operating adjustments. Equity based compensation expense is excluded from ANI, because (i) KKR believes that the cost of equity awards granted to employees does not contribute to the earnings potentially available for distributions to its equity holders or reinvestment into its business and (ii) excluding this expense makes KKR’s reporting metric more comparable to the corresponding metric presented by other publicly traded companies in KKR’s industry, which KKR believes enhances an investor’s ability to compare KKR’s performance to these other companies. Income Taxes on Adjusted Earnings includes the benefit of tax deductions arising from equity-based compensation, which reduces Income Taxes on Adjusted Earnings during the period. If tax deductions from equity- based compensation were to be excluded from Income Taxes on Adjusted Earnings, KKR’s ANI would be lower and KKR’s effective tax rate would appear to be higher, even though a lower amount of income taxes would have actually been paid or payable during the period. KKR separately discloses the amount of tax deduction from equity- based compensation for the period reported and the effect of its inclusion in ANI for the period. KKR makes these adjustments when calculating ANI in order to more accurately reflect the net realized earnings that are expected to be or become available for distribution to KKR’s equity holders or reinvestment into KKR’s business. However, ANI does not represent and is not used to calculate actual dividends under KKR’s dividend policy, which is a fixed amount per period, and ANI should not be viewed as a measure of KKR’s liquidity. Non-GAAP and Segment Measures The key non-GAAP and other operating and performance measures that follow are used by management in making operational and resource deployment decisions as well as in assessing the performance of KKR's business. They include certain financial measures that are calculated and presented using methodologies other than in accordance with U.S. generally accepted accounting principles (“GAAP”). These non-GAAP measures, including adjusted net income (“ANI”), total segment earnings, total investing earnings, total operating earnings (“TOE”), fee related earnings (“FRE”), strategic holdings operating earnings, and total asset management segment revenues, are presented prior to giving effect to the allocation of income (loss) among KKR & Co. Inc. and holders of certain securities exchangeable into shares of common stock of KKR & Co. Inc. and, as such, represent the entire KKR business in total. In addition, these non-GAAP measures are presented without giving effect to the consolidation of the investment vehicles and collateralized financing entities (“CFEs”) that KKR manages. These measures described above have the definitions given to them below. We believe that providing these non-GAAP measures on a supplemental basis to our GAAP results is helpful to stockholders in assessing the overall performance of KKR's business. These non-GAAP measures should not be considered as a substitute for financial measures calculated in accordance with GAAP. “Non-operating adjustments” as used in these non- GAAP definitions refers to adjustments made which are not adjustments or exclusions of normal, recurring cash operating expenses necessary for business operations. Reconciliations of these non-GAAP measures to the most directly comparable financial measures calculated and presented in accordance with GAAP, where applicable, are included under the “Reconciliation of GAAP to Non-GAAP Measures" section of this Appendix. We also caution readers that these non-GAAP measures may differ from the calculations made by other investment managers, and as a result, may not be directly comparable to similarly titled measures presented by other investment managers.

39 Non-GAAP and Segment Measures (cont’d) • Total Segment Earnings is a performance measure that KKR believes is useful to stockholders as it provides a supplemental measure of our operating performance without taking into account items that KKR does not believe arise from or relate directly to KKR's operations. Total Segment Earnings excludes: (i) equity-based compensation charges, (ii) amortization of acquired intangibles, and (iii) transaction-related and non- operating items, if any. Transaction-related and non-operating items arise from corporate actions and non-operating items, which consist of: (i) impairments, (ii) transaction costs from acquisitions, (iii) depreciation on real estate that KKR owns and occupies, (iv) contingent liabilities, net of any recoveries, and (v) other gains or charges that affect period-to-period comparability and are not reflective of KKR's ongoing operational performance. Inter-segment transactions are not eliminated from segment results when management considers those transactions in assessing the results of the respective segments. These transactions include (i) management fees earned by our Asset Management segment as the investment adviser for Global Atlantic insurance companies, (ii) management and performance fees earned by our Asset Management segment for acquiring and managing the companies included in our Strategic Holdings segment, and (iii) interest income and expense based on lending arrangements where our Asset Management segment borrows from our Insurance segment. All these inter- segment transactions are recorded by each segment based on the applicable governing agreements. Total Segment Earnings represents the total segment earnings of KKR’s Asset Management, Insurance and Strategic Holdings segments. • Asset Management Segment Earnings is the segment profitability measure used to make operating decisions and to assess the performance of the Asset Management segment. This measure is presented before income taxes and is comprised of: (i) Fee Related Earnings, (ii) Realized Performance Income, (iii) Realized Performance Income Compensation, (iv) Realized Investment Income, and (v) Realized Investment Income Compensation. The non-operating adjustments made to derive Asset Management Segment Earnings excludes the impact of: (i) unrealized gains (losses) on investments, (ii) unrealized carried interest, and (iii) unrealized carried interest compensation. Management fees earned by KKR as the adviser, manager or sponsor for its investment funds, vehicles and accounts, including its Global Atlantic insurance companies and Strategic Holdings segment, are included in Asset Management Segment Earnings. • Insurance Operating Earnings is the segment profitability measure used to make operating decisions and to assess the performance of the Insurance segment. This measure is presented before income taxes and is comprised of: (i) Net Investment Income, (ii) Net Cost of Insurance, and (iii) General, Administrative, and Other Expenses. The non-operating adjustments made to derive Insurance Operating Earnings excludes the impact of: (i) investment gains (losses) which include realized gains (losses) related to asset/liability matching investment strategies and unrealized investment gains (losses) and (ii) non-operating changes in policy liabilities and derivatives which includes (a) changes in the fair value of market risk benefits and other policy liabilities measured at fair value and related benefit payments, (b) fees attributed to guaranteed benefits, (c) derivatives used to manage the risks associated with policy liabilities, and (d) losses Important Information − Non-GAAP and Other Measures (cont’d) at contract issuance on payout annuities. Insurance Operating Earnings includes (i) realized gains and losses not related to asset/liability matching investment strategies and (ii) the investment management costs that are earned by our Asset Management segment as the investment adviser of the Global Atlantic insurance companies. • Strategic Holdings Segment Earnings is the segment profitability measure used to make operating decisions and to assess the performance of the Strategic Holdings segment. This measure is presented before income taxes and is comprised of: Dividends, Net and Net Realized Investment Income. The non-operating adjustment made to derive Strategic Holdings Segment Earnings excludes the impact of unrealized gains (losses) on investments. Strategic Holdings Segment Earnings includes management fees and performance fee expenses that are earned by the Asset Management segment. • Fee Related Earnings is a performance measure used to assess the Asset Management segment’s generation of earnings from revenues that are measured and received on a more recurring basis as compared to KKR’s investing earnings. KKR believes this measure is useful to stockholders as it provides additional insight into the profitability of our fee generating asset management and capital markets businesses. FRE equals (i) Management Fees, including fees paid by the Insurance and Strategic Holdings segments to the Asset Management segment and fees paid by certain insurance co- investment vehicles, (ii) Transaction and Monitoring Fees, Net and (iii) Fee Related Performance Revenues, less (x) Fee Related Compensation, and (y) Other Operating Expenses. • Fee Related Performance Revenues refers to the realized portion of performance fees from certain AUM that has an indefinite term and for which there is no immediate requirement to return invested capital to investors upon the realization of investments. Fee related performance revenues consists of performance fees (i) expected to be received from our investment funds, vehicles and accounts on a recurring basis, and (ii) that are not dependent on a realization event involving investments held by the investment fund, vehicle or account. • Fee Related Compensation refers to the compensation expense, excluding equity- based compensation, paid from (i) Management Fees, (ii) Transaction and Monitoring Fees, Net, and (iii) Fee Related Performance Revenues. • Other Operating Expenses represents the sum of (i) occupancy and related charges and (ii) other operating expenses. • Strategic Holdings Operating Earnings is a performance measure used to assess the firm’s earnings from companies and businesses reported through its Strategic Holdings segment. Strategic Holdings Operating Earnings currently consists of earnings derived from dividends that the firm receives from businesses acquired through the firm’s participation in our core private equity strategy. Strategic Holdings Operating Earnings currently equals dividends less management fees that are earned by our Asset Management segment. This measure is used by management to assess the Strategic Holdings segment’s generation of earnings from revenues that are measured and received on a more recurring basis than, and are not dependent on, realizations from investment activities.

40 Non-GAAP and Segment Measures (cont’d) • Total Operating Earnings is a performance measure that represents the sum of (i) FRE, (ii) Insurance Operating Earnings, and (iii) Strategic Holdings Operating Earnings. KKR believes this measure is useful to stockholders as it provides additional insight into the profitability of the most recurring forms of earnings from each of KKR’s segments as compared to investing earnings. • Total Investing Earnings is a performance measure that represents the sum of (i) Net Realized Performance Income and (ii) Net Realized Investment Income. KKR believes this measure is useful to stockholders as it provides additional insight into the earnings of KKR’s segments from the realization of investments. • Total Asset Management Segment Revenues is a performance measure that represents the realized revenues of the Asset Management segment (which excludes unrealized carried interest and unrealized gains (losses) on investments) and is the sum of (i) Management Fees, (ii) Transaction and Monitoring Fees, Net, (iii) Fee Related Performance Revenues, (iv) Realized Performance Income, and (v) Realized Investment Income. Asset Management Segment Revenues excludes Realized Investment Income earned based on the performance of businesses presented in the Strategic Holdings segment. KKR believes that this performance measure is useful to stockholders as it provides additional insight into all forms of realized revenues generated by our Asset Management segment. Other Terms and Capital Metrics • Adjusted shares represents shares of common stock of KKR & Co. Inc. outstanding under GAAP adjusted to include certain securities exchangeable into shares of common stock of KKR & Co. Inc. • Assets Under Management (“AUM”) represent the assets managed (including core private equity), advised or sponsored by KKR from which KKR is entitled to receive management fees or performance income (currently or upon a future event), general partner capital, and assets managed, advised or sponsored by our strategic BDC partnership and the hedge fund and other managers in which KKR holds an ownership interest. We believe this measure is useful to stockholders as it provides additional insight into the capital raising activities of KKR and its hedge fund and other managers and the overall activity in their investment funds and other managed or sponsored capital. KKR calculates the amount of AUM as of any date as the sum of: (i) the fair value of the investments of KKR's investment funds and certain co-investment vehicles; (ii) uncalled capital commitments from these funds, including uncalled capital commitments from which KKR is currently not earning management fees or performance income; (iii) the asset value of the Global Atlantic insurance companies; (iv) the par value of outstanding CLOs; (v) KKR's pro rata portion of the AUM of hedge fund and other managers in which KKR holds an ownership interest; (vi) all of the AUM of KKR's strategic BDC partnership; (vii) the acquisition cost of invested assets of certain non-US real estate investment trusts and (viii) the value of other assets managed or sponsored by KKR. The pro rata portion of the AUM of hedge fund and other managers is calculated based on KKR’s percentage Important Information − Non-GAAP and Other Measures (cont’d) ownership interest in such entities multiplied by such entity’s respective AUM. KKR's definition of AUM (i) is not based on any definition of AUM that may be set forth in the governing documents of the investment funds, vehicles, accounts or other entities whose capital is included in this definition, (ii) includes assets for which KKR does not act as an investment adviser, and (iii) is not calculated pursuant to any regulatory definitions. • Capital Invested is the aggregate amount of capital invested by (i) KKR’s investment funds (including core private equity) and Global Atlantic insurance companies, (ii) KKR's Principal Activities business line as a co-investment, if any, alongside KKR’s investment funds, and (iii) KKR's Principal Activities business line in connection with a syndication transaction conducted by KKR's Capital Markets business line, if any. Capital invested is used as a measure of investment activity at KKR during a given period. We believe this measure is useful to stockholders as it provides a measure of capital deployment across KKR’s business lines. Capital invested includes investments made using investment financing arrangements like credit facilities, as applicable. Capital invested excludes (i) investments in certain leveraged credit strategies, (ii) capital invested by KKR’s Principal Activities business line that is not a co-investment alongside KKR’s investment funds, and (iii) capital invested by KKR’s Principal Activities business line that is not invested in connection with a syndication transaction by KKR’s Capital Markets business line. Capital syndicated by KKR's Capital Markets business line to third parties other than KKR’s investment funds or Principal Activities business line is not included in capital invested. • Fee Paying AUM (“FPAUM”) represents only the AUM from which KKR is entitled to receive management fees. We believe this measure is useful to stockholders as it provides additional insight into the capital base upon which KKR earns management fees. FPAUM is the sum of all of the individual fee bases that are used to calculate KKR's and its hedge fund and BDC partnership management fees and differs from AUM in the following respects: (i) assets and commitments from which KKR is not entitled to receive a management fee are excluded (e.g., assets and commitments with respect to which it is entitled to receive only performance income or is otherwise not currently entitled to receive a management fee) and (ii) certain assets, primarily in its private equity funds, are reflected based on capital commitments and invested capital as opposed to fair value because fees are not impacted by changes in the fair value of underlying investments. • Uncalled Commitments is the aggregate amount of unfunded capital commitments that KKR’s investment funds and carry-paying co-investment vehicles (including core private equity) have received from partners to contribute capital to fund future investments, and the amount of uncalled commitments is not reduced by capital invested using borrowings under an investment fund’s subscription facility until capital is called from our fund investors. We believe this measure is useful to stockholders as it provides additional insight into the amount of capital that is available to KKR’s investment funds and carry paying co-investment vehicles to make future investments. Uncalled commitments are not reduced for investments completed using fund-level investment financing arrangements or investments we have committed to make but remain unfunded at the reporting date.

41 Website From time to time, KKR may use its website as a channel of distribution of material company information. Financial and other important information regarding KKR is routinely posted and accessible on the Investor Center for KKR & Co. Inc. at https://ir.kkr.com/. Information on these websites are not incorporated by reference herein and are not a part of this presentation. In addition, you may automatically receive email alerts and other information about KKR by enrolling your email address at the “Email Alerts” area of the Investor Center on the website. KKR Entities Any discussion of specific KKR entities other than KKR & Co. Inc. is provided solely to demonstrate such entities’ role within the KKR organization and their contributions to the business, operations and financial results of KKR & Co. Inc. Each KKR entity is responsible for its own financial, contractual and legal obligations. Nothing in this presentation is intended to constitute, and shall not be construed as constituting, the provision of any tax, accounting, financial, investment, insurance, regulatory, legal or other advice by KKR or its representatives. Without limiting the foregoing, this presentation is not and shall not be construed as an "advertisement" for purposes of the Investment Advisers Act of 1940, as amended, or an offer to purchase or sell, or the solicitation of an offer to purchase or sell, any security, service or product of or by any KKR entity, including but not limited to any investment advice, any investment fund, vehicle or account, any capital markets service, or any insurance product, including but not limited to (i) any investment funds, vehicles or accounts sponsored, advised or managed by (or any investment advice from) Kohlberg Kravis Roberts & Co. L.P., KKR Credit Advisors (US) LLC, KKR Credit Advisors (Ireland) or other subsidiary, (ii) any capital markets services by KKR Capital Markets LLC (“KCM”) or any KCM affiliate outside the United States, or (iii) any insurance product or reinsurance offered by Accordia Life and Annuity Company, Commonwealth Annuity and Life Insurance Company, First Allmerica Financial Life Insurance Company, Forethought Life Insurance Company, Global Atlantic Re Limited, Global Atlantic Assurance Limited or any other Global Atlantic owned or sponsored insurance company, or any investment or insurance product or reinsurance offered by any insurance-related vehicle sponsored or managed by Global Atlantic. Each KKR entity is responsible for its own financial, contractual and legal obligations. This presentation has been prepared solely for informational purposes. This presentation is not intended to make, and does not make, any financial or investment recommendation or otherwise promote a product or service of KCM or any of its affiliates. Important Information − Other Legal Disclosures Past Performance and Investment Returns Past performance is not a guarantee of future results. Information about any fund or strategy and investments made by such fund or strategy, including past performance of such fund, strategy or investment, is provided solely to illustrate KKR’s investment experience, and processes and strategies used by KKR in the past with respect to such funds or strategies. The performance information relating to KKR’s historical investments is not intended to be indicative of any fund’s or strategy’s future results or the future results of KKR. Certain funds or strategies are also relatively new and their limited historical results may not be indicative of results they will experience over a longer period of time. There can be no assurance that any KKR entity (including any KKR investment fund, vehicle or account, the KKR balance sheet, the Strategic Holdings segment, or Global Atlantic insurance company) will achieve results comparable to any results included in this presentation, or that any investments made by a KKR entity now, in the past or in the future will be profitable, or that KKR entities will find investment opportunities similar to any presented in connection with this presentation. Actual realized value of currently unrealized investments will depend on, among other factors, the value of the investments and market conditions at the time of disposition, related transaction costs, the timing and manner of sale, and many of the risks described in the forward-looking statements section of this Annex, all of which may differ from the assumptions and circumstances on which the currently unrealized valuations are based. Accordingly, the actual realized values of unrealized investments may differ materially from the values indicated herein.

42 Important Information − Other Legal Disclosures (cont’d) Expected dividend amounts and investment returns in the new business segment Strategic Holdings may be materially less than our current expectations or not materialize at all, and the volatility of employee compensation as a result of the modification of our compensation framework could impact our ability to hire, retain, and motivate our employees whom we are dependent on. These forward-looking statements are based on KKR’s beliefs, assumptions and expectations, taking into account all information currently available to it. These beliefs, assumptions and expectations can change as a result of many possible events or factors, not all of which are known to KKR or are within its control. These forward-looking statements are based on KKR’s beliefs, assumptions and expectations, taking into account all information currently available to it. These beliefs, assumptions and expectations can change as a result of many possible events or factors, not all of which are known to KKR or are within its control. The use of words such as “unconstrained,” “consistent,” "trends," "dominant" or comparable words or other statements is not a guarantee of future performance or that any other statements to which these apply are guaranteed to occur. If a change occurs, forward-looking statements made as part of this presentation may vary materially from those expressed in the applicable forward-looking statements. These forward-looking statements include target, goal, hypothetical or estimated results, projections and other comparable phrases and concepts are hypothetical in nature and are shown for illustrative, informational purposes only. Except as otherwise specifically stated, this information is not intended to forecast or predict future events, but rather to show the hypothetical estimates calculated using the specific assumptions presented herein. It does not reflect any actual results, which may differ materially. Certain of the forward-looking information has been made for illustrative purposes and may not materialize. No representation or warranty is made as to the reasonableness of the assumptions made or that all assumptions used in calculating the target, goal, hypothetical or estimated results have been stated or fully considered. Changes in the assumptions may have a material impact on the target, goal, hypothetical or estimated results presented. Target, goal, hypothetical or estimated results or projections may not materialize. These statements are subject to numerous risks, uncertainties and assumptions, including those listed here in the above and below paragraphs and described under the section entitled “Risk Factors” in KKR & Co. Inc.’s Annual Report on Form 10-K for the year ended December 31, 2023, filed with the SEC on February 29, 2024, as such factors may be updated from time to time in our periodic filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. These factors should not be construed as being exhaustive and should be read in conjunction with the other cautionary statements that are included in this presentation and in KKR & Co. Inc.’s filings with the SEC. All forward-looking statements speak only as of the date of this presentation. KKR does not undertake any obligation to update any forward-looking statements to reflect circumstances or events that occur after the date on which such statements were made except as required by law. Forward Looking Statements This presentation contains certain forward-looking statements pertaining to KKR, including investment funds, vehicles and accounts managed by KKR and Global Atlantic. You can identify these forward-looking statements by the use of words such as “opportunity,” “outlook,” “believe,” “think,” “expect,” “feel,” “potential,” “continue,” “may,” “should,” “seek,” “approximately,” “predict,” “intend,” “will,” “plan,” “estimate,” “anticipate,” “visibility,” “positioned,” “path to,” “conviction”, the negative version of these words, other comparable words or other statements that do not relate strictly to historical or factual matters. Forward-looking statements relate to expectations, estimates, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts, including but, not limited to, any statements with respect to: statements regarding KKR’s business, financial condition, liquidity and results of operations, including Capital Invested, uncalled commitments, cash and short-term investments, and levels of indebtedness; the potential for future business growth; outstanding shares of common stock of KKR & Co. Inc. and its capital structure; non-GAAP and segment measures and performance metrics, including AUM, FPAUM, ANI, TOE, Book Value, Total Segment Earnings, FRE, Insurance Operating Earnings, Strategic Holdings Operating Earnings, Total Investing Earnings, and Total Segment Earnings; the declaration and payment of dividends on capital stock of KKR & Co. Inc.; the timing, manner and volume of repurchase of shares of capital stock of KKR & Co. Inc.; our statements regarding the potential of, and future financial results from, KKR’s Strategic Holdings segment (including expectations about dividend payments from companies and businesses in the Strategic Holdings segment in the future, the future growth of such companies and businesses, the potential for compounding earnings over a long period of time from such segment, and the belief that such segment is an unconstrained business line); KKR’s ability to grow its AUM, to deploy capital, to realize unrealized investment appreciation, and the time period over which such events may occur; KKR’s ability to manage the investments in and operations of acquired companies and businesses; the effects of any transactional activity on KKR’s operating results, including pending sales of investments; expansion and growth opportunities and other synergies resulting from acquisitions of companies (including the acquisition of Global Atlantic and businesses in our Strategic Holdings segment), internal reorganizations or strategic partnerships with third parties; the timing and expected impact to our business of any new investment fund, vehicle or product launches; the timing and completion of certain transactions contemplated by the Reorganization Agreement entered into on October 8, 2021 by KKR & Co. Inc. pursuant to which the parties agreed to undertake a series of integrated transactions to effect a number of transformative structural and governance changes in the future; the implementation or execution of, or results from, any strategic initiatives (including efforts to access private wealth investors and the modification of our compensation framework announced on November 29, 2023, which decreased the targeted percentage of compensation from fee related revenues and increased the targeted percentage from realized carried interest and incentive fees).

43 successfully; Global Atlantic’s actual or perceived financial strength and ratings of Global Atlantic and its subsidiaries; business Global Atlantic reinsures and business it cedes to reinsurers; changes in accounting standards applicable to insurance companies; volatility in our insurance business’s net income under GAAP; reinsurance assets held in trust, which limit Global Atlantic’s ability to invest those assets; determination of the amount of impairments and allowances for credit losses; liquidity risks from Global Atlantic’s membership in Federal Home Loan Banks; changes in relevant tax laws, regulations or treaties; regulations, including those related to capital requirements, that apply to Global Atlantic; Bermuda insurance subsidiaries possibly being subject to additional licensing requirements; and not being able to mitigate the reserve strain associated with statutory accounting rules; and • risks related to our organizational structure, including risks involving: our status as a controlled company; declining common stock price due to the large number of shares eligible for future sale and issuable as grants or in acquisitions; ability to issue preferred stock may cause the price of our common stock to decline; our right to repurchase all outstanding shares of common stock under specified circumstances; limitations on our ability to pay periodic dividends; our obligations to make payments to our principals pursuant to a tax receivable agreement; potential application of restrictions under the Investment Company Act of 1940; and reorganizations undertaken by us. Forward Looking Statements (cont'd) Without limiting the statements made in the prior paragraphs, the following factors, among others, could cause actual results to vary from the forward-looking statements: • risks related to our business, including: future business growth and various assumptions about the ability to capitalize on growth opportunities and future business performance, the assumptions and estimates used in any forward-looking statements made herein, including relating to New Capital Raised, Assets Under Management, Fee Related Earnings per share, Total Operating Earnings per share, Adjusted Net Income per share, Strategic Holdings Operating Earnings, the timing and amounts generated by the monetization of investments held by KKR or its investment vehicles, difficult market and economic conditions; geopolitical developments and other local and global events; disruptions caused by natural disasters, catastrophes, or potential changes in climate conditions; our liquidity requirements and sources of liquidity; assets we refer to as “perpetual capital” being subject to material reduction; high variability in earnings and cash flow; “clawback” provisions in our governing agreements; inability to raise additional or successor funds successfully; intense competition in the investment management and insurance industries; changes in relevant tax laws, regulations and treaties or adverse interpretations by tax authorities; recruiting, retaining and motivating our employees and other key personnel; expansion into new investment strategies, geographic markets, businesses and types of investors; failure to manage existing balance sheet commitments; extensive regulation of our businesses (including compliance with applicable laws); litigation volatility related to our capital markets activities; • risks related to our investment activities, including risks involving: historical returns not being indicative of future results; valuation methodologies for establishing the fair value of certain assets can be subjective; the impact on valuations by market and economic conditions; changes in debt or equity markets; dependence on significant leverage in our investments; exposures to, and investments in, leveraged companies or companies experiencing financial or business difficulties; concentration of investments by type of issuer, geographic region, asset types, or otherwise; investments in relatively illiquid assets; investments in real assets; investments in emerging and less established companies; investments in companies that are based outside of the United States; investors in certain of our investment vehicles are entitled to redeem their investments in these vehicles on a periodic basis, and certain of our investment advisory agreements may be terminated with minimal notice; • risks related to our insurance activities, including risks involving: possibility of not achieving the intended benefit of the Global Atlantic acquisitions (including a failure to realize anticipated benefits within the expected timeframes); interest rate fluctuations; difference between policyholder behavior estimates, reserve assumptions and actual claims experience; estimates used in preparation of financial statements and models for insurance products; our ability to execute Global Atlantic's growth strategies successfully; Important Information − Other Legal Disclosures (cont’d)

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