Company: NXDT
Filing Date: 2025-04-25
Form Type: 424B3
Source: 0001437749-25-013177
Chunk: 123

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-04-25
Form: 424B3
Chunk 123
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 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 120,040 shares issuable upon vesting of restricted share units within 60 days after February 25, 2025. |

| (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”), Vanguard has sole dispositive power with respect to 3,245,218 of Old Common Shares, shared voting power with respect to 13,979 of our Old Common Shares and shared dispositive power with respect to 28,663 of our Old Common Shares. The address of Vanguard is 100 Vanguard Blvd., Malvern, PA 1935. |

| 3. | According to a Schedule 13G filed on January 29, 2024 by BlackRock, Inc. (“BlackRock”), BlackRock has sole voting power with respect to 2,276,835 of our Old Common Shares and sole dispositive power with respect to 2,316,321 of our Old Common Shares. The address of BlackRock is 50 Hudson Yards, New York, NY 10001. |

| 4. | According to a Schedule 13G filed on February 9, 2024 by Morgan Stanley (“MS”) and Morgan Stanley Smith Barney LLC (“MSSB”), MS has shared voting power with respect to 81,792 of our Old Common Shares and MS has shared dispositive power with respect to 2,209,098 of our Old Common Shares. MSSB has shared dispositive power with respect to 2,127,306 of our Old Common Shares. The address of MS and MSSB is 1585 Broadway, New York, NY 1003. |

| 5. | Includes 5,849 shares