X0407 4 2023-04-04 0001356115 NEXPOINT DIVERSIFIED REAL ESTATE TRUST NXDT 0001218975 KAVANAUGH SCOTT F 300 CRESCENT COURT, SUITE 700 DALLAS TX 75201 1 0 Restricted Shares Units 2023-04-04 4 A 0 7463 0 A Common Shares 7463 7463 D Each restricted shares unit represents a contingent right to receive one common share of NexPoint Diversified Real Estate Trust. On April 4, 2023, the reporting person was granted 7,463 restricted shares units which will vest on April 4, 2024. Settlement will generally occur within 10 days of vesting and may at the discretion of the Compensation Committee be settled in cash. /s/ Brian Mitts, as attorney-in-fact for Scott Kavanaugh 2023-04-06