Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 1662

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 1662
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 how the Company's CODM evaluates total NOI. The following table, which has not been adjusted for the effects of NCI, reconciles our NOI for the three and nine months ended September 30, 2024 to net loss, the most directly comparable GAAP financial measure by reportable segment (in thousands):

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I-1320</div>

|                                                                      |     | For the Three Months Ended September 30, 2024 |         |   |     |                            |        |   |     |       |         |   |     | For the Nine Months Ended September 30, 2024 |         |   |     |                            |        |   |     |       |         |   |
|:---------------------------------------------------------------------|:----|:----------------------------------------------|--------:|:--|:----|:---------------------------|-------:|:--|:----|:------|--------:|:--|:----|:---------------------------------------------|--------:|:--|:----|:---------------------------|-------:|:--|:----|:------|--------:|:--|
|                                                                      |     | NexPoint Diversified Real Estate Trust        |         |   |     | NexPoint Hospitality Trust |        |   |     | Total |         |   |     | NexPoint Diversified Real Estate Trust       |         |   |     | NexPoint Hospitality Trust |        |   |     | Total |         |   |
| Net loss                                                             |     | $                                             | (11,247 | ) |     | $                          | (4,173 | ) |     | $     | (15,420 | ) |     | $                                            | (39,230 | ) |     | $                          | (8,260 | ) |     | $     | (47,490 | ) |
| Adjustments to reconcile net loss to NOI:                            |     |                                               |         |   |     |                            |        |   |     |       |         |   |     |                                              |         |   |     |                            |        |   |     |       |         |   |
| Advisory and administrative fees                                     |     |                                               |   3,720 |   |     |                            |    256 |   |     |       |   3,976 |   |     |                                              |  10,140 |   |     |                            |    525 |   |     |       |  10