NexPoint Diversified Real Estate Trust (NXDT) investor relations material

Executive summary

• Portfolio focused on diversified real estate and hospitality, with a primary objective of income and capital appreciation.

• Two reportable segments: Diversified (majority of assets) and Hospitality.

• Externally managed REIT, with significant asset reallocation underway to focus on core sectors.

• Ongoing Cityplace redevelopment and asset recycling strategy to free up capital.

Financial highlights

• Total revenues for Q2 2026 were $19.3M, down from $21.0M in Q2 2025; six-month revenues were $42.2M, down from $50.1M year-over-year.

• Net income for Q2 2026 was $2.0M, compared to a net loss of $44.1M in Q2 2025; six-month net loss was $19.2M, improved from $79.2M loss year-over-year.

• FFO for Q2 2026 was $5.4M, up from $(43.5)M in Q2 2025; AFFO was $(1.4)M, down from $2.3M.

• NAV per common share was $9.33 as of June 30, 2026, down from $10.76 at year-end 2025.

• Same Store NOI for Q2 2026 was $304K, down 4.1% year-over-year; six-month Same Store NOI was $580K, up 17.2%.

Outlook and guidance

• Management expects to opportunistically sell $100M–$150M in assets to reallocate capital to target sectors.

• $250M–$270M in additional capital expenditures required to complete Cityplace redevelopment.

• Focus on maintaining REIT status and regular quarterly distributions; shift from cash-and-share to all-cash distributions announced for Q3 2026.