X0306 4 2018-06-19 0 0001663712 NEXPOINT REAL ESTATE STRATEGIES FUND "NRESF" 0001228922 DONDERO JAMES D 300 CRESCENT COURT, SUITE 700 DALLAS TX 75201 0 1 1 0 See Remarks Class Z Shares of Beneficial Interest 2018-06-19 4 P 0 75329.105 20.90 A 131718.74 I See Footnote Class Z Shares of Beneficial Interest 2018-06-19 4 P 0 5095.38 20.90 A 10815.813 I See Footnote Class Z Shares of Beneficial Interest 2018-06-19 4 P 0 23923.445 20.90 A 181972.939 I See Footnote Includes shares acquired under the issuer's dividend reinvestment plan. These shares are held by Highland Capital Management, L.P ("HCMLP") both directly and indirectly through advised accounts. The Reporting Person is the President and the director of Strand Advisors, Inc., HCMLP's general partner, and may be deemed to be an indirect beneficial owner of shares held by HCMLP. The Reporting Person disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein. These shares are held by NexPoint Advisors, L.P. ("NexPoint"). The Reporting Person is the President and the director of NexPoint Advisors GP, LLC, NexPoint's general partner, and may be deemed to be an indirect beneficial owner of shares held by NexPoint. The Reporting Person disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein. These shares are held by The Dugaboy Investment Trust pursuant to an employee purchase plan. The Reporting Person disclaims beneficial ownership of such shares to the extent of his pecuniary interest therein. President (Principal Executive Officer) /s/ James D. Dondero 2018-06-21