Company: NXDT
Filing Date: 2025-01-31
Form Type: 425
Source: 0001437749-25-002423
Chunk: 1

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-31
Form: 425
Chunk 1
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 the trustees to fix the auditor’s remuneration. |

| VOTE FOR 
 ☐        | WITHHOLD VOTE 
 ☐             |

| 3. | To pass an ordinary resolution authorizing and approving certain amendments to the convertible promissory notes issued by the REIT between September 2019 and May 2021, as more particularly described in the accompanying Circular. |

| VOTE FOR 
 ☐        | VOTE AGAINST 
 ☐            |

| VOTE FOR 
 ☐        | VOTE AGAINST 
 ☐            |

| VOTE FOR 
 ☐        | VOTE AGAINST 
 ☐            |

DATED this_______day of_____________________, 2025.

| Name of Unitholder 
 (please print)     |     | Signature of Unitholder |     | Number of Units Held |

If any amendments or variations of the matters referred to above or to any other matters identified in the notice of meeting are proposed at the Meeting or any adjournments thereof, or if any other matters which are not now known to management should properly come before the Meeting or any adjournment or adjournments thereof, this proxy confers discretionary authority on the person voting the proxy to vote on such amendments or variations of such other matters in accordance with the best judgement of such person.

Notes:

| 1. | Unitholders are entitled to vote at the Meeting either in person or by proxy. To vote Units personally at the Meeting, unitholders must submit the proxy appointing themselves as proxyholder. A proxy must be dated and signed by the unitholder or by the unitholder’s attorney duly authorized in writing. Unitholders should sign this form of proxy exactly as the units are registered. A unitholder should indicate his or her full title if signing as attorney, executor, administrator, trustee or guardian. When units are held by joint tenants, both should sign. If the unitholder is a partnership, the partnership name should be signed by an authorized person. If the unitholder is a corporation, this form of proxy must be executed by an authorized officer who must sign the full corporate name. If not dated, this proxy shall be deemed to bear the date on which it was mailed by the management of the REIT. |

| 2. | Each unitholder has the right to appoint a person to represent him or her and to attend and act for such unitholder on such unitholder’s behalf at the meeting other than