KREF 2021-FL2 Ltd.: Surveillance Performance Update

Ratings

• Date Issued	Debt Rated	Rating	Trend	Action	Attributesi US = Lead Analyst based in USA CA = Lead Analyst based in Canada EU = Lead Analyst based in EU UK = Lead Analyst based in UK E = EU endorsed U = UK endorsed Unsolicited Participating With Access Unsolicited Participating Without Access Unsolicited Non-participating
  08-Aug-23	Class A Notes	AAA (sf)	Stb	Confirmed	CA
  08-Aug-23	Class A-S Notes	AAA (sf)	Stb	Confirmed	CA
  08-Aug-23	Class B Notes	AA (low) (sf)	Stb	Confirmed	CA
  08-Aug-23	Class C Notes	A (low) (sf)	Stb	Confirmed	CA
  08-Aug-23	Class D Notes	BBB (sf)	Stb	Confirmed	CA
  08-Aug-23	Class E Notes	BBB (low) (sf)	Stb	Confirmed	CA
  08-Aug-23	Class F Notes	BB (low) (sf)	Stb	Confirmed	CA
  08-Aug-23	Class F-E Notes	BB (low) (sf)	Stb	Confirmed	CA
  08-Aug-23	Class F-X Notes	BB (low) (sf)	Stb	Confirmed	CA
  08-Aug-23	Class G Notes	B (low) (sf)	Stb	Confirmed	CA
  08-Aug-23	Class G-E Notes	B (low) (sf)	Stb	Confirmed	CA
  08-Aug-23	Class G-X Notes	B (low) (sf)	Stb	Confirmed	CA

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