X0609 4 2026-06-10 0001356115 NEXPOINT DIVERSIFIED REAL ESTATE TRUST NXDT 0001218975 KAVANAUGH SCOTT F false 300 CRESCENT COURT, SUITE 700 DALLAS TX 75201 1 0 Common Stock 2026-06-10 4 M 0 4830 A 26163 D Common Stock 50026 I By Benefit Plan Restricted Shares Units 2026-06-10 4 M 0 4830 0 D Common Shares 4830 0 D Each restricted share unit represents a contingent right to receive one common share of NexPoint Diversified Real Estate Trust (the "Company"). Includes shares acquired pursuant to elective stock dividends paid on the Company's common shares. These shares are held in a defined plan for the benefit of the reporting person. On June 10, 2025, the reporting person was granted 4,830 restricted share units which vested on June 10, 2026. Settlement will generally occur within 10 days of vesting and may at the discretion of the Compensation Committee be settled in cash. /s/ Paul Richards as attorney-in-fact for Scott Kavanaugh 2026-06-16