Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 2264

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 2264
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    (550 | ) |     |                                      |    (806 | ) |
| Net income (loss)                                                                                                     |     |                                      | (21,548 | ) |     |                                      | (19,521 | ) |
| Net (income) loss attributable to preferred shareholders                                                              |     |                                      |  (1,155 | ) |     |                                      |  (1,155 | ) |
| Net income (loss) attributable to common shareholders                                                                 |     | $                                    | (22,703 | ) |     | $                                    | (20,676 | ) |
| Weighted average common shares outstanding - basic                                                                    |     |                                      |  38,572 |   |     |                                      |  37,172 |   |
| Weighted average common shares outstanding - diluted                                                                  |     |                                      |  38,572 |   |     |                                      |  37,172 |   |
| Earnings (loss) per share - basic                                                                                     |     | $                                    |   (0.59 | ) |     | $                                    |   (0.56 | ) |
| Earnings (loss) per share - diluted                                                                                   |     | $                                    |   (0.59 | ) |     | $                                    |   (0.56 | ) |

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

3

I-1813

NEXPOINT DIVERSIFIED REAL ESTATE TRUST AND SUBSIDIARIES

CONSOLIDATED STATEMENT OF SHAREHOLDERS’EQUITY

(in thousands, except share and per share amounts)

(Unaudited)</div>

| Three Months Ended March 31, 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 | ) |     | Total | 885,074 |   |
|:--------------------------------------------------------|:----|:-----------------|----------:|:----|:-------|--:|:----|:--------------|-----------:|:----|:-------|---:|:----|:-----------|----------:|:----|:----------------|