Company: NXDT
Filing Date: 2025-01-31
Form Type: 425
Source: 0001437749-25-002423
Chunk: 0

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-31
Form: 425
Chunk 0
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Filed by NexPoint Diversified Real Estate Trust
pursuant to Rule 425 under the Securities Act of 1933
Subject Company: NexPoint Diversified Real Estate Trust
Commission File No.: 001-32921
File No. of Related Registration Statement: 333-284099

### NEXPOINT

### HOSPITALITY TRUST

### PROXY SOLICITED BY THE MANAGEMENT OF NEXPOINT HOSPITALITY TRUST
<div align='center'>For use at the Annual and Special Meeting of Unitholders to be held on February 21, 2025</div>

The undersigned unitholder of NEXPOINT HOSPITALITY TRUST( the “REIT”) hereby appoints Neil Labatte, Lead Trustee of the board of trustees of the REIT, or, instead of him, _____________________ as proxy of the undersigned, with power of substitution, to attend and act and vote for and on behalf of the undersigned at the Annual and Special Meeting of Unitholders of the REIT (the “Meeting”) to be held on February 21, 2025 at 10:00 a.m. (Toronto time) via live webcast online at https://virtual-meetings.tsxtrust.com/1736 (password: nexpoint2025) and at every adjournment thereof in the same manner and to the same extent and with the same power as if the undersigned were present at the Meeting or any adjournment thereof and the undersigned revokes any former instrument appointing a proxy for the undersigned at the Meeting or any adjournment or adjournments thereof.

Without limiting the general authorization and power hereby given, the persons named above are specifically directed to vote as indicated below:

<div align='center'>VOTING RECOMMENDATIONS ARE INDICATED BY HIGHLIGHTED TEXT OVER THE BOXES.</div>

| 1. | To elect as trustees each of the persons nominated in the accompanying management information circular (the “Circular”), namely: |

|               | VOTE FOR | WITHHOLD VOTE |
| James Dondero | ☐        | ☐             |
| Neil Labatte  | ☐        | ☐             |
| Graham Senst  | ☐        | ☐             |
| Jerry Patava  | ☐        | ☐             |

| 2. | To appoint the auditor of the REIT as set out in the accompanying Circular, and to authorize