X0306 4 2020-02-26 0 0001786248 NexPoint Real Estate Finance, Inc. NREF 0001228922 DONDERO JAMES D 300 CRESCENT COURT, SUITE 700 DALLAS TX 75201 1 1 0 0 President Common Stock 2020-02-26 4 P 0 2599 18.984 A 25156 I See Footnote Common Stock 2020-02-27 4 P 0 27044 18.836 A 52200 I See Footnote Common Stock 123680 I See Footnote These shares are held by NexPoint Real Estate Strategies Fund ("NRESF"). The Reporting Person is a co-portfolio manager of NRESF, and may be deemed to be an indirect beneficial owner of shares held by NRESF. The Reporting Person disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein. These shares are held by a trust, of which Mr. Dondero is the beneficiary. Mr. Dondero disclaims beneficial ownership of such shares. /s/ Lauren Thedford, as attorney-in-fact for James Dondero 2020-02-28