X0306 4 2020-02-28 0 0001786248 NexPoint Real Estate Finance, Inc. NREF 0001636187 McGraner Matt 300 CRESCENT COURT, SUITE 700 DALLAS TX 75201 0 1 0 0 See Remarks Common Stock 2020-02-28 4 P 0 12975 18.614 A 65175 I See Footnote Common Stock 2020-03-02 4 P 0 525 18.597 A 65700 I See Footnote Common Stock 26315 D 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. Executive VP and Chief Investment Officer /s/ Lauren Thedford as attorney-in-fact for Matt McGraner 2020-03-03