Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 1739

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 1739
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 attributable to common shareholders            |     |                  |         — |     |        | — |     |               |          — |     |        |  — |     |            |         — |     |                 | (15,022 | ) |     |       | (15,022 | ) |
| Net income attributable to preferred shareholders       |     |                  |         — |     |        | — |     |               |          — |     |        |  — |     |            |         — |     |                 |   1,155 |   |     |       |   1,155 |   |
| Common share dividends declared ($0.15 per share)       |     |                  |         — |     |        | — |     |               |          — |     |        |  — |     |            |         — |     |                 |  (5,666 | ) |     |       |  (5,666 | ) |
| Preferred share dividends declared ($0.34375 per share) |     |                  |         — |     |        | — |     |               |          — |     |        |  — |     |            |         — |     |                 |  (1,155 | ) |     |       |  (1,155 | ) |
| Balances, June 30, 2023                                 |     |                  | 3,359,593 |     | $      | 3 |     |               | 37,171,807 |     | $      | 37 |     | $          | 1,000,281 |     | $               | (28,992 | ) |     | $     | 971,329 |   |

<div align='center'>See Notes to Consolidated Financial Statements

5

I-1371

NEXPOINT DIVERSIFIED REAL ESTATE TRUST AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF SHAREHOLDERS’EQUITY

(in thousands, except share and per share amounts)

(Unaudited)</div>

| Six Months Ended June 30, 2023                          
 Balances, December 31, 2022                             |     | Preferred Shares 
 Number of        
 Shares           | 3,359,593 |     | Amount | 3 |     | Common Shares 
 Number of     
 Shares        | 37,171,807 |     | Amount | 37 |     | Additional 
 Paid-in    
 Capital