Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 2416

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 2416
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 |     |            0 |     | -          |
|           |     | All Trustees and Executive Officers as a group (10 persons)     |     |       80,614 |     | 2.4%       |

* Less than 1%

<div align='center'>41

I-1940</div>

| 1. | Mr. Dondero and Nancy Marie Dondero have sole voting power, shared voting power, sole dispositive power and shared dispositive power as follows: |

| Name of Reporting Person |     | Sole Voting 
 Power       |                |     | Shared Voting 
 Power         |                |     | Sole Dispositive 
 Power            |                |     | Shared            
 Dispositive Power |                |
| James D. Dondero(a)      |     |             | 4,244,870.9878 |     |               | 3,097,916.6796 |     |                  | 4,224,870.9878 |     |                   | 3,097,916.6796 |
| Nancy Marie Dondero(b)   |     |             |    25,509.8617 |     |               |        102,948 |     |                  |    25,509.8617 |     |                   |        102,948 |

| (a) | Includes shares held by Mr. Dondero directly and indirectly through certain managed accounts ultimately advised by Mr. Dondero, an employee benefit plan and a trust. Also includes shares that Mr. Dondero has the right to acquire beneficial ownership of that are held by a trust, for which he does not serve as trustee. Mr. Dondero disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein. Includes 46,916 shares issuable upon vesting of restricted share units within 60 days after April 1, 2024. |

| (b) | Includes shares held by Ms. Dondero directly, in a joint account, and indirectly through a trust that Ms. Dondero may be deemed to beneficially own as the trustee of the trust. Ms. Dondero is the sister of Mr. Dondero. Ms. Dondero and Mr. Dondero disclaim beneficial ownership of such shares. |

| 2. | According to a Schedule 13G filed on February 13, 2024 by The Vanguard Group, Inc. (“Vanguard