Company: NXDT
Filing Date: 2025-04-11
Form Type: S-4
Source: 0001437749-25-011826
Chunk: 64

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-04-11
Form: S-4
Chunk 64
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 of the Advisory Agreement Amendment.

Interest of Certain Persons in Matters to be Acted Upon

As noted above, our President and Chairman of the Board has an interest in this Proposal 5, as, due to his indirect ownership of the Adviser, he may be deemed to have a five percent or greater interest in the Old Common Shares issued to our Adviser under Rule 312. In addition, certain members of the Board and executive officers that are employed by our Adviser have an interest in this Proposal 5.

<div align='center'>The Board unanimously recommends a vote FOR the approval of the potential issuance of Old Common Shares or, if the Conversion is completed, New Common Stock, to the Adviser pursuant to the Advisory Agreement.

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PROPOSAL 6‒
RATIFICATION OF APPOINTMENT OF

KPMG LLP AS OLD NXDT’S INDEPENDENT

REGISTERED PUBLIC ACCOUNTING FIRM FOR 2025</div>

The audit committee has appointed KPMG as Old NXDT’s independent registered public accounting firm for 2025. The Board is asking shareholders to ratify this appointment. SEC regulations and NYSE listing requirements require Old NXDT’s independent registered public accounting firm to be engaged, retained and supervised by the audit committee. However, the Board considers the selection of an independent registered public accounting firm to be an important matter to shareholders. Accordingly, the Board considers a proposal for shareholders to ratify this appointment to be an opportunity for shareholders to provide input to the audit committee and the Board on a key corporate governance issue.

Representatives of KPMG are expected to virtually attend the Annual Meeting and will have the opportunity to make a statement. They will also be available to respond to appropriate questions.

Selection. KPMG served as Old NXDT’s independent registered public accounting firm for 2024, and has been selected by the audit committee to serve as Old NXDT’s independent registered public accounting firm for 2025.

Audit and Non-Audit Fees. The following table presents fees for audit services rendered by KPMG for the audit of Old NXDT’s annual financial statements for 2024 and 2023 and fees billed for other services rendered by KPMG.

|                    |     |   | DECEMBER 31, 2024 |     |   | DECEMBER 31, 2023 |
|:-------------------|:----|:--|------------------:|:----|:--|------------------:|
| Audit Fees(1)      |