Interest Rate Risk - As of December 31, 2019, 100% of the company's loans by unpaid principal balance earned a floating rate of interest, positively correlating net equity to rising interest rates [400]. - The weighted average LIBOR floor for the loan portfolio was 1.63% as of December 31, 2019 [400]. - An immediate increase of 25 basis points in the benchmark interest rate could result in a total change in net interest income of $3.334 million, while a decrease of 25 basis points could decrease net interest income by $9.161 million [401]. Credit Risk - The company is exposed to credit risk, with performance dependent on the ability of property sponsors to generate adequate cash flows to meet interest and principal payments [404]. - The company monitors risks associated with the commercial real estate market, including occupancy rates and macroeconomic factors, through its underwriting and asset management processes [405]. Prepayment and Extension Risk - Prepayment risk could lead to reduced interest income if principal is repaid at a different rate than anticipated, affecting the amortization of purchase premiums [406]. - The company faces extension risk, where a decrease in prepayment rates could extend the life of fixed-rate assets beyond the term of secured debt agreements, potentially impacting operations [408]. Capital Market Risk - Capital market risks include the ability to raise capital through equity or debt instruments, constrained by the requirement to distribute a significant portion of taxable income annually [409]. Counterparty Risk - Counterparty risk arises from reliance on financial institutions for cash and financing, mitigated by working with high credit-quality institutions [410]. Foreign Currency Risk - The company intends to hedge foreign currency exposure through forward contracts to manage risks associated with foreign currency-denominated assets [417].

TPG RE Finance Trust, Inc. (NYSE:TRTX) Q3 2019 Results Earnings Conference Call October 29, 2019 8:30 AM ET Company Participants Deborah Ginsberg - General Counsel Greta Guggenheim - CEO Bob Foley - CFO Conference Call Participants Steve Delaney - JMP Securities Stephen Laws - Raymond James Rick Shane - JP Morgan Operator Greetings. Welcome to the TPG RE Finance Trust third-quarter 2019 earnings conference call. [Operator instructions] Please note that this call is being recorded. I will now turn the confer ...

Washington, D.C. 20549 UNITED STATES SECURITIES AND EXCHANGE COMMISSION FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the quarterly period ended September 30, 2019. OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-38156 TPG RE Finance Trust, Inc. (Exact name of registrant as specified in its charter) (Registrant's telephone number, in ...

TPG RE Finance Trust, Inc. (NYSE:TRTX) Q2 2019 Earnings Conference Call July 30, 2019 8:30 AM ET Company Participants Deborah Ginsberg - General Counsel Greta Guggenheim - CEO Bob Foley - CFO Conference Call Participants Steven Delaney - JMP Securities Rick Shane - JPMorgan Operator Greetings, and welcome to the TPG RE Finance Trust Second Quarter 2019 Earnings Conference Call. At this time all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operat ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the quarterly period ended June 30, 2019. OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-38156 TPG RE Finance Trust, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorpo ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 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): April 29, 2019 TPG RE Finance Trust, Inc. (Exact Name of Registrant as Specified in its Charter) Maryland 001-38156 36-4796967 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.) 888 Seventh Avenue, 35th Floor, New York, New York 10106 (Addr ...

TPG RE Finance Trust, Inc. (NYSE:TRTX) Q1 2019 Earnings Conference Call April 30, 2019 8:30 AM ET Company Participants Deborah Ginsberg – General Counsel Greta Guggenheim – Chief Executive Officer Bob Foley – Chief Financial and Risk Officer Conference Call Participants Steve Delaney – JMP Securities Stephen Laws – Raymond James Rick Shane – JPMorgan Kelly Wang – Citi Operator Greetings, and welcome to the TPG Real Estate Finance Trust First Quarter 2019 Earnings Conference Call. At this time all participan ...

Financial Performance - Total assets increased to $5.12 billion as of March 31, 2019, compared to $4.53 billion at December 31, 2018, reflecting a growth of approximately 13.1%[14] - Net interest income for Q1 2019 was $37.23 million, up from $33.37 million in Q1 2018, representing an increase of about 11.1%[17] - Net income attributable to TPG RE Finance Trust, Inc. for Q1 2019 was $28.41 million, compared to $25.11 million in Q1 2018, marking a growth of approximately 9.2%[17] - Basic earnings per common share remained stable at $0.42 for both Q1 2019 and Q1 2018, with the weighted average number of common shares outstanding increasing from 60.39 million to 68.29 million[17] - The company reported a comprehensive net income of $28.52 million for Q1 2019, compared to $24.90 million in Q1 2018, an increase of about 14.3%[17] - Net income for Q1 2019 was $28,412,000, an increase from $25,114,000 in Q1 2018, representing an 9.1% year-over-year growth[22] - Cash provided by operating activities for Q1 2019 was $26,033,000, compared to $23,454,000 in Q1 2018, indicating a 10.9% increase[22] - Dividends paid on common stock in Q1 2019 totaled $28,546,000, compared to $22,620,000 in Q1 2018, representing a 26.3% increase[22] - The company declared dividends per share of $0.43 for common stock in Q1 2019, compared to $0.42 in Q1 2018[20] Assets and Liabilities - Total liabilities rose to $3.68 billion as of March 31, 2019, compared to $3.20 billion at December 31, 2018, indicating an increase of about 14.5%[14] - The company’s investment in available-for-sale securities increased to $308.29 million as of March 31, 2019, compared to $74.38 million at December 31, 2018, a significant increase of approximately 314%[14] - The carrying value of loans held for investment was $4,712.1 million, an increase from $4,293.8 million as of December 31, 2018, reflecting a growth of approximately 9.8%[61] - As of March 31, 2019, the total outstanding balance of secured revolving repurchase agreements, senior secured, and secured credit agreements was $3,586.57 million[81] - The total principal commitment for secured revolving repurchase agreements was $2,894.07 million, with an outstanding balance of $1,615.07 million[81] Investment Activities - The company originated loans held for investment totaling $628,460,000 in Q1 2019, compared to $512,522,000 in Q1 2018, reflecting a 22.6% increase[22] - The Company originated 11 loans with a total commitment of approximately $713.6 million and an initial unpaid principal balance of $633.1 million during the three months ended March 31, 2019[61] - The Company purchased 10 CRE CLO investments for an aggregate purchase price of $234.2 million during the three months ended March 31, 2019[66] - The loan portfolio as of March 31, 2019, included total loan commitments of $5.373 billion, with office properties representing 35.9% of the total[146] - The Bridge loan category comprised 49.5% of total loan commitments, with a UPB of $2,468.3 million[148] Financing and Debt - The Company finances its investments using secured revolving repurchase agreements and other financing arrangements, with 100% of senior mortgage loans transferred on a non-recourse basis to third-party lenders[41][42] - The average interest rate for secured revolving repurchase agreements ranged from 1.7% to 2.7% across different agreements[81] - The Company had outstanding borrowings of $267.7 million under a term loan facility with a maximum capacity of $750 million, bearing interest at LIBOR plus 1.85%[103] - The total principal payments due for secured revolving repurchase agreements in 2019 were $1,281.3 million[105] Risk Management - The company is exposed to various risks including credit risk, prepayment risk, and market volatility, which are monitored through asset management processes[271][273][280] - The Company evaluates loans for impairment on a quarterly basis, with a risk rating system from 1 (Outperform) to 5 (Risk of Impairment/Default)[37] - The Company’s loans are typically collateralized by real estate, and it regularly evaluates credit deterioration associated with the underlying collateral[39] Taxation - The Company operates as a real estate investment trust (REIT) and is not subject to U.S. federal income taxes on REIT taxable income if it distributes all taxable income to stockholders[25] - The effective tax rate for the Company was 0.8% for the three months ended March 31, 2019[114] - The Company had no deferred tax assets or liabilities as of March 31, 2019[115] Shareholder Activities - The company completed a common stock offering of 6.0 million shares at $19.80 per share, generating net proceeds of $118.8 million[131] - The company repurchased 2,324 shares of common stock at a weighted average price of $18.27 per share during the three months ended March 31, 2019[133] - A cash dividend of $0.43 per share, totaling $31.6 million, was paid to stockholders on April 25, 2019[152]

Financial Data and Key Metrics Changes - For Q4 2018, the company generated GAAP net income of $28.6 million or $0.43 per diluted share, compared to $26.8 million or $0.42 per diluted share in the previous quarter, reflecting a quarter-over-quarter earnings growth of 6.7% driven by net loan growth of $135 million [13] - Core earnings for 2018 were 99.4% of dividends declared and paid, with total dividends per share declared and paid amounting to $1.71 [8][15] - Book value per share at year-end was $19.76, slightly down from $19.78 at the previous quarter-end due to a mark-to-market adjustment [14] Business Line Data and Key Metrics Changes - Originations for 2018 totaled $2.5 billion, resulting in a $1 billion increase in earning assets to $4.3 billion, with a portfolio weighted average credit spread of 390 basis points [6][7] - The composition of loans by property type was predominantly office and multifamily, with a focus on bridge and lease-up transitional loans [9] - The weighted average loan risk rating remained stable at 2.8 on a scale of 1 to 5, indicating no credit issues on the horizon [10] Market Data and Key Metrics Changes - The company opened a Chicago origination office to support its National Origination Program, enhancing scalability [6] - The weighted average loan-to-value ratio was 64.5% for the entire portfolio at year-end, emphasizing loans secured by properties with shorter business plans [20] Company Strategy and Development Direction - The company aims to increase book value per share and dividend yield while maintaining a defensive approach to capital preservation [8][23] - There are no plans to change the current strategy, which focuses on senior floating rate loans, with a cautious approach towards construction loans due to the late cycle environment [33][34] - The company intends to grow its portfolio in an accretive manner, focusing on prudent loan sizes relative to its equity base [29][30] Management's Comments on Operating Environment and Future Outlook - Management expressed encouragement regarding the strong start to 2019, with loans closed or in the process of closing totaling $630 million [11] - There is a belief that spread compression has slowed, with robust competition still present in the market [24] - Management anticipates fewer early repayments in 2019 due to a reduction in construction loans and a moderation in prepayment activity [8][15] Other Important Information - The company has increased its funding capacity by approximately $2.3 billion through various financing arrangements, including CLO issuances and term loan facilities [6][18] - Liquidity and capital positions are healthy, with cash balances of $39.7 million and $2.4 billion of available financing capacity [19] Q&A Session Summary Question: Outlook for 2019 originations compared to last year - Management feels encouraged about the start to the year but notes that competition remains robust [22][23] Question: Drivers of spread compression and future expectations - Management believes that while spread compression has slowed, competitive pressures are still strong [24][25] Question: Optimal size of the portfolio - Management aims for growth but will focus on prudent loan sizes relative to their equity base, avoiding large loans that could increase risk [28][30] Question: Strategy regarding investment style and capital allocation - Management confirmed no plans to change their strategy, focusing on senior floating rate loans and being cautious with construction loans [33][34] Question: Initial funding balance expectations - The percentage of initial fundings to total commitment is expected to return to historical averages, around 90% for the existing pipeline [37][38] Question: Operating expenses and future expectations - Management indicated that professional fees may normalize slightly higher than Q4 2018 levels but overall expenses are being managed effectively [43][44] Question: Late cycle phenomenon and spread compression - Management expects a reversal in spread compression trends as some private debt funds have begun to exit the market due to unsustainable yields [52][53]

Exhibit 99.1 TPG RE Finance Trust, Inc. Reports Operating Results for the Fourth Quarter and Full Year Ended December 31, 2018 New York, NY, February 25, 2019 /BusinessWire/ -- TPG RE Finance Trust, Inc. (NYSE: TRTX) ("TRTX" or the "Company") reported its operating results for the fourth quarter and full year ended December 31, 2018. For the fourth quarter of 2018 GAAP net income was $28.6 million, earnings per diluted common share was $0.43, and book value per common share at December 31, 2018 was $19.76. ...