Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 1601

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 1601
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 |        | — |     |               |  2,522,222 |     |        |  3 |     |            |    14,285 |     |                 |  (18,384 | ) |     |                            |      — |   |     |       |  (4,096 | ) |
| Preferred share dividends declared ($1.03125 per share) |     |                  |         — |     |        | — |     |               |          — |     |        |  — |     |            |         — |     |                 |   (3,465 | ) |     |                            |      — |   |     |       |  (3,465 | ) |
| Balances, September 30, 2024                            |     |                  | 3,359,593 |     | $      | 3 |     |               | 41,674,528 |     | $      | 42 |     | $          | 1,031,915 |     | $               | (187,487 | ) |     | $                          | (1,559 | ) |     | $     | 842,914 |   |

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

4

I-1278

NEXPOINT DIVERSIFIED REAL ESTATE TRUST AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF SHAREHOLDERS’EQUITY

(in thousands, except share and per share amounts)

(Unaudited)</div>

| Three Months Ended                                      
 September 30, 2023                                      
 Balances, June 30, 2023                                 |     | Preferred Shares 
 Number of        
 Shares           | 3,359,593 |     | Amount | 3 |     | Common Shares 
 Number of     
 Shares        | 37,171,807 |     | Amount | 37 |     | Additional 
 Paid-in    
 Capital    | 1,000,281 |     | Accumulated     
 Earnings (Loss) |  (28,992 | ) |     | Total | 971,329 |   |
|:--------------------------------------------------------|:----|:-----------------|----------:|:----|:-------|--:|:----|:--------------|-----------:|:----|:-------|---:|:----|:-----------|----------:|:----|:----------------|---------:|:--|:----|:------|--------:|