Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 1633

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 1633
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    |     |         |        |    |     | $          | 521,613 |

<div align='center'>27

I-1301</div>

The following is a summary of the significant unobservable inputs used in the fair valuation of assets categorized within Level 3 of the fair value hierarchy as of December 31, 2023.

| Category          |     | Valuation Technique            |     | Significant Unobservable Inputs                       |     | Input Value(s)    
 (Arithmetic Mean) |        |    |     |   |        |   |     |       |        |    |     |         |         |    |     | Fair Value |         |
|:------------------|:----|:-------------------------------|:----|:------------------------------------------------------|:----|:------------------|-------:|:---|:----|:--|-------:|:--|:----|:------|-------:|:---|:----|:--------|--------:|:---|:----|:-----------|--------:|
| CLO               |     | Discounted Net Asset Value     |     | Discount                                              |     |                   |        |    |     |   |    N/A |   |     |       |        |    |     |         |         |    |     | $          |   1,215 |
| Common Stock      |     | Market Approach                |     | Unadjusted Price/MHz-PoP                              |     | $                 |   0.10 |    |     |   |      — |   |     | $     |   0.90 |    |     | $       |   (0.48 | )  |     |            | 176,256 |
|                   |     | Discounted Cash Flow           |     | Discount Rate                                         |     |                   |    7.5 | %  |     |   |      — |   |     |       |  13.90 | %  |     |         |   (9.18 | )% |     |            |         |
|                   |     |                                |     | Market Rent (per sqft)                                |     | $                 |  11.50 |    |     |   |      — |   |     | $     |  41.00 |    |     | $       |  (26.25 | )  |     |            |         |
|                   |     |                                |