KKR & Co. Inc. — Director's Dealing 2017

Nov 3, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: KKR & Co. L.P. (KKR)
CIK: 0001404912
Period of Report: 2017-11-02

Reporting Person: ROBERTS GEORGE R (N/A)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-11-02	KKR Holdings L.P. Units	$	J	2500000	Acquired		Common Units (2500000)	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
KKR Holdings L.P. Units	$		Common Units (1010000)	1010000	Indirect
KKR Holdings L.P. Units	$		Common Units (249426)	249426	Indirect

Footnotes

F1: Pursuant to an exchange agreement as contemplated by KKR & Co. L.P.'s prospectus dated September 21, 2011, filed with the Securities and Exchange Commission on September 23, 2011, units of KKR Holdings L.P. are exchangeable for KKR Group Partnership Units (which term refers collectively to Class A partner interests in each of KKR Management Holdings L.P., KKR Fund Holdings L.P. and KKR International Holdings L.P.) on a one-for-one basis, and KKR Group Partnership Units are exchangeable for common units of KKR & Co. L.P. on a one-for-one basis.

F2: On November 2, 2017, the conflicts committee of the board of directors of the general partner of KKR & Co. L.P. consented to the allocation of units of KKR Holdings L.P. to the Reporting Person. These units will vest in five equal annual installments beginning on October 1, 2018, subject to the Reporting Person's continued service through each vesting date, subject to other vesting provisions, and will be subject to minimum retained ownership requirements. This grant does not change the number of common units of KKR & Co. L.P. on a fully-diluted basis. Such units were issued to the Reporting Person's revocable trust in a transaction exempt from reporting under Rule 16a-13 under the Securities Exchange Act of 1934, as amended.

F3: These units of KKR Holdings L.P. are held in a trust revocable by the Reporting Person during his life. The Reporting Person is the sole beneficiary and the sole trustee of this trust.

F4: These units of KKR Holdings L.P. are held by a limited partnership, whose general partner is a limited liability company of which the Reporting Person is the sole member and investment manager.

F5: These units of KKR Holdings L.P. are held in a corporation owned by the Reporting Person and of which the Reporting Person is the president.