KKR & Co. Inc. — Director's Dealing 2014

May 2, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: KKR & Co. L.P. (KKR)
CIK: 0001404912
Period of Report: 2014-04-30

Reporting Person: ROBERTS GEORGE R (Director, Co-Chairman and Co-CEO, 10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-04-30	Common Units	A	910044	—	Acquired	1185627	Indirect
2014-04-30	Common Units	A	10156	—	Acquired	10156	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Units	4667166	Indirect

Footnotes

F1: Represents common units of KKR & Co. L.P. received pursuant to the Agreement and Plan of Merger, dated as of December 16, 2013, between KKR & Co. L.P., KKR Financial Holdings LLC and other parties thereto. At the effective time of the merger, each common share of KKR Financial Holdings LLC beneficially owned by the Reporting Person was cancelled and converted automatically into the right to receive 0.51 common units of KKR & Co. L.P.

F2: Reflects the transfer of 275,583 common units of KKR & Co. L.P. from a KKR-related holding vehicle to a trust of which the Reporting Person is a trustee. This transfer, which was exempt from reporting pursuant to Rule 16a-13 under the Exchange Act, merely changed the form of the Reporting Person's pecuniary interest in such securities from one form of indirect to another form of indirect.

F3: These common units are held by a limited liability company of which the Reporting Person is a managing member.

F4: KKR MIF Fund Holdings L.P. and KKR Reference Fund Investments L.P. hold an aggregate of 4,667,166 common units. KKR IFI GP L.P. is the general partner of KKR Reference Fund Investments L.P. and the general partner of KKR Index Fund Investments L.P., which is the sole shareholder of KKR MIF Carry Limited, which is the general partner of KKR MIF Carry Holdings L.P., which is the general partner of KKR MIF Fund Holdings L.P. The general partner of KKR IFI GP L.P. is KKR IFI Limited. The sole shareholder of KKR IFI Limited is KKR Fund Holdings L.P. A general partner of KKR Fund Holdings L.P. is KKR Fund Holdings GP Limited. (Continued in footnote 5)

F5: (Continued from footnote 4) The sole shareholder of KKR Fund Holdings GP Limited and a general partner of KKR Fund Holdings L.P. is KKR Group Holdings L.P. The sole partner of KKR Group Holdings L.P. is KKR Group Limited. The sole shareholder of KKR Group Limited is KKR & Co. L.P. The sole general partner of KKR & Co. L.P. is KKR Management LLC. In his capacity as a designated member of KKR Management LLC, the Reporting Person may be deemed to be a beneficial owner of the securities held by KKR MIF Fund Holdings, L.P. and KKR Reference Fund Investments L.P.