KKR costs $ 500,000,000 of 4.625% subordinated debt due 2061

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NEW YORK–(BUSINESS WIRE) – KKR & Co. Inc. (together with its subsidiaries “KKR”) (NYSE: KKR) announced today that it has entered into an offer for a total of $ 500,000,000 in principal of its 4.625% subordinated debt maturing in 2061 (the ” Bonds ”). ) issued by KKR Group Finance Co. IX LLC, its indirect subsidiary. The Notes are fully and unconditionally guaranteed by KKR & Co. Inc. and KKR Group Partnership LP. The offering is expected to close on March 31, 2021 subject to customary closing conditions.

KKR intends to use the net proceeds from the sale of the Notes along with the cash on hand to redeem one or more of its series of its outstanding Series A Preferred Shares and Series B Preferred Shares. The remaining net proceeds will be used for general corporate purposes.

Wells Fargo Securities, LLC, BofA Securities, Inc., JP Morgan Securities LLC, Morgan Stanley & Co. LLC, UBS Securities LLC and KKR Capital Markets LLC are acting as joint book-running managers for the offering.

The offer is made under an effective shelf registration statement that is on file with the US Securities and Exchange Commission. The offer is made exclusively via a prospectus and the associated preliminary prospectus supplement. An electronic copy of the Provisional Supplement and the accompanying prospectus are available on the SEC’s website at www.sec.gov. Alternatively, copies of the Provisional Supplement and the accompanying prospectus can be obtained from the joint book running managers: Wells Fargo Securities, LLC toll free at 1-800-645-3751; BofA Securities, Inc. toll-free at 1-800-294-1322; JP Morgan Securities LLC at 1-212-834-4533; Morgan Stanley & Co. LLC toll free at 1-866-718-1649; UBS Securities LLC toll free at 1-888-827-7275 and KKR Capital Markets LLC at 1-212-230-9433.

This press release does not constitute an offer to sell or the solicitation of an offer to buy the Notes or any other security and does not constitute an offer, solicitation or sale of the Notes in any state or jurisdiction in which such an offer is a solicitation or sale would be illegal.

CAUTION REGARDING FUTURE STATEMENTS

This press release contains certain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. The forward-looking statements are based on the beliefs, assumptions and expectations of KKR, taking into account all information currently available to KKR. These beliefs, assumptions and expectations can change due to many possible events or factors, all of which are not known to or under KKR’s control. In the event of a change, the business, financial, liquidity and earnings position of KKR may differ significantly from the statements made in the forward-looking statements. The following factors, among others, could cause actual results to differ from the forward-looking statements: Failure to achieve the expected benefits within the expected timeframe from the acquisition of The Global Atlantic Financial Group LLC (together with its subsidiary “Global Atlantic”). ); unforeseen liabilities or integration and other costs of the Global Atlantic acquisition and the timing thereof; Changes in Global Atlantic’s business; Diverting the management of KKR or Global Atlantic or otherwise redirecting resources within any company due to the acquisition of Global Atlantic; Retention of key Global Atlantic employees; Global Atlantic’s ability to maintain business relationships following the acquisition; the severity and duration of the COVID-19 pandemic; the impact of the pandemic on the US and the global economy; foreign, federal, state, and local government responses to the pandemic; whether KKR will realize all or some of the expected benefits from converting to an enterprise and when these benefits will be realized; whether there are increased or unforeseen costs associated with the conversion, including any adverse changes in tax law; the volatility of the capital markets; Failure to realize benefits or changes in KKR or Global Atlantic’s business strategies, including the ability to realize anticipated synergies from acquisitions, including the acquisition of Global Atlantic, strategic partnerships or other transactions; Availability, conditions and use of capital; Availability of qualified personnel and the cost of hiring and retaining these personnel; Changes in the asset management or insurance industry, interest rates, credit spreads, exchange rates, or the general economy; Underperformance of KKR or Global Atlantic investments and decreased ability to raise funds; Compliance with the laws applicable to their respective companies by KKR and Global Atlantic; Changes to Global Atlantic as a consolidated subsidiary of KKR; KKR’s ability to manage Global Atlantic’s investments; KKR’s control of the global Atlantic; Changes in Global Atlantic policyholder behavior; any malfunction in the maintenance of Global Atlantic’s insurance policies; the use of estimates and risk management in Global Atlantic’s business; Outcome of Global Atlantic litigation and regulatory affairs; as well as the degree and type of competition from KKR and Global Atlantic. All forward-looking statements speak only as of the date of this agreement. KKR assumes no 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. In addition, KKR’s business strategy is long-term and financial results are subject to significant volatility. For more information on factors affecting KKR, please see KKR & Co. Inc.’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020, filed with the SEC on February 19, 2021 and others filings with the SEC. which are available at www.sec.gov.