Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 1737

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 1737
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 Preferred stock dividends declared ($0.34375 per share) |     |                  |         — |     |        | — |     |               |          — |     |        |  — |     |            |         — |     |                 |   (1,155 | ) |     |                         |      — |   |     |       |  (1,155 | ) |
| Balances, June 30, 2024                                 |     |                  | 3,359,593 |     | $      | 3 |     |               | 40,650,118 |     | $      | 41 |     | $          | 1,025,144 |     | $               | (171,101 | ) |     | $                       |  4,979 |   |     | $     | 859,066 |   |

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

3

I-1369

NEXPOINT DIVERSIFIED REAL ESTATE TRUST AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF SHAREHOLDERS’EQUITY

(in thousands, except share and per share amounts)

(Unaudited)</div>

| Six Months Ended June 30, 2024                          
 Balances, December 31, 2023                             |     | Preferred Shares 
 Number of        
 Shares           | 3,359,593 |     | Amount | 3 |     | Common Shares 
 Number of     
 Shares        | 38,389,600 |     | Amount | 38 |     | Additional 
 Paid-in    
 Capital    | 1,011,613 |     | Accumulated     
 Earnings (Loss) | (126,580 | ) |     | Noncontrolling 
 Interest       |      — |   |     | Total | 885,074 |   |
|:--------------------------------------------------------|:----|:-----------------|----------:|:----|:-------|--:|:----|:--------------|-----------:|:----|:-------|---:|:----|:-----------|----------:|:----|:----------------|---------:|:--|:----|:---------------|-------:|:--|:----|:------|--------:|:--|
| Noncontrolling interests from NHT Acquisition           |     |                  |         — |     |        | — |     |               |          — |     |        |  — |     |            |