Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 480

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 480
---

Basic earnings (loss) per share is computed by dividing net income (loss) attributable to common shareholders by the weighted average number of the Company’s common shares outstanding and excludes any unvested restricted share units issued pursuant to the 2023 LTIP.

Diluted earnings (loss) per share is computed by adjusting basic earnings per share for the dilutive effect of the assumed vesting of restricted share units. During periods of net loss, the assumed vesting of restricted share units is anti-dilutive and is not included in the calculation of earnings (loss) per share.

<div align='center'>123

I-128</div>

The following table sets forth the computation of basic and diluted earnings (loss) per share (in thousands, except per share amounts):

|                                                       |    | Year Ended December 31, 
 2023                    |          |   |     | Six Months Ended December 31, 
 2022                          |         |   |
|:------------------------------------------------------|---:|:------------------------|---------:|:--|:----|:------------------------------|--------:|:--|
| Numerator for loss per share:                         |    |                         |          |   |     |                               |         |   |
| Net income (loss) attributable to common shareholders |    | $                       | (121,860 | ) |     | $                             | (83,883 | ) |
| Denominator for loss per share:                       |    |                         |          |   |     |                               |         |   |
| Weighted average common shares outstanding            |    |                         |   37,334 |   |     |                               |  37,172 |   |
| Denominator for basic and diluted loss per share      |    |                         |   37,334 |   |     |                               |  37,172 |   |
| Weighted average unvested restricted share units      |    |                         |      440 |   |     |                               |       — |   |
| Denominator for diluted loss per share                | -1 |                         |   37,334 |   |     |                               |  37,172 |   |
| Loss per weighted average common share:               |    |                         |          |   |     |                               |         |   |
| Basic                                                 |    | $                       |    (3.26 | ) |     | $                             |   (2.26 | ) |
| Diluted                                               |    |