Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 2265

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 2265
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     | $     | 863,023 |   |

<div align='center'>4

I-1814

NEXPOINT DIVERSIFIED REAL ESTATE TRUST AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF SHAREHOLDERS’EQUITY

(in thousands, except share and per share amounts)

(Unaudited)</div>

| Three Months Ended March 31, 2023                       
 Balances, December 31, 2022                             |     | Preferred Shares 
 Number of        
 Shares           | 3,359,593 |     | Amount | 3 |     | Common Shares 
 Number of     
 Shares        | 37,171,807 |     | Amount | 37 |     | Additional 
 Paid-in    
 Capital    | 999,845 |     | Accumulated     
 Earnings (Loss) |  17,947 |   |     | Total | 1,017,832 |   |
|:--------------------------------------------------------|:----|:-----------------|----------:|:----|:-------|--:|:----|:--------------|-----------:|:----|:-------|---:|:----|:-----------|--------:|:----|:----------------|--------:|:--|:----|:------|----------:|:--|
| Net loss attributable to common shareholders            |     |                  |         — |     |        | — |     |               |          — |     |        |  — |     |            |       — |     |                 | (20,676 | ) |     |       |   (20,676 | ) |
| Net income attributable to preferred shareholders       |     |                  |         — |     |        | — |     |               |          — |     |        |  — |     |            |       — |     |                 |   1,155 |   |     |       |     1,155 |   |
| Common share dividends declared ($0.15 per share)       |     |                  |         — |     |        | — |     |               |          — |     |        |  — |     |            |       — |     |                 |  (5,575 | ) |     |       |    (5,575 | ) |
| Preferred share dividends declared ($0.34375 per share) |     |                  |         — |     |        | — |     |               |          — |     |        |