8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of The

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 28, 2026

NEXPOINT RESIDENTIAL TRUST, INC.

(exact name of registrant as specified in its charter)

Maryland	001-36663	47-1881359
(State or other jurisdiction<br><br>of incorporation)	(Commission<br><br>File Number)	(IRS Employer<br><br>Identification No.)

300 Crescent Court, Suite 700

Dallas, Texas 75201

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code: (214) 276-6300

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading<br><br>Symbol(s)	Name of each exchange<br><br>on which registered
Common Stock, par value $0.01 per share	NXRT	New York Stock Exchange; NYSE Texas, Inc.

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition.

The following information is intended to be furnished under Item 2.02 of Form 8-K, “Results of Operations and Financial Condition.” This information shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, whether made before or after the date of this report, regardless of any general incorporation language in the filing. In a press release dated April 28, 2026, NexPoint Residential Trust, Inc. (the “Company”) announced financial results for the Company’s first quarter ended March 31, 2026. The full text of the press release is furnished herewith as Exhibit 99.1 to this report.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Exhibit<br><br>Number	Exhibit Description
99.1	Press Release dated April 28, 2026
104	Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

NEXPOINT RESIDENTIAL TRUST, INC.
By:	/s/ Paul Richards
	Name: Paul Richards<br><br>Title: Chief Financial Officer, Executive<br><br>VP-Finance, Treasurer and Assistant Secretary

Date: April 28, 2026

EX-99.1

Exhibit 99.1

28 April 2026 | NYSE: NXRT

EARNINGS SUPPLEMENT: FIRST QUARTER 2026

NEXPOINT RESIDENTIAL TRUST, INC.

300 CRESCENT COURT, SUITE 700

DALLAS, TX 75201

INVESTOR RELATIONS:

KRISTEN GRIFFITH

NXRT.NEXPOINT.COM

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

TABLE OF CONTENTS

Earnings Release	1
Cautionary Statement Regarding Forward-Looking Statements	3
Overview	4
Highlights of Recent Activity	5
Financial Summary	7
2026 Full Year Guidance	8
Components of Net Asset Value	9
Consolidated Balance Sheets	10
Consolidated Statements of Operations	11
NOI and Same Store NOI	12
Q1 Same Store Results	13
Q1 Same Store Properties Operating Metrics	15
QoQ Same Store Properties Operating Metrics	16
FFO, Core FFO and AFFO	17
Historical Capital Expenditures	18
Value-Add Program Details	19
Outstanding Debt Details	22
Debt Maturity Schedule	24
Historical Acquisition Details	26
Historical Disposition Details	27
Definitions and Reconciliations of Non-GAAP Measures	28
Sedona at Lone Mountain: Las Vegas, NV
---
Patio Extensions Underway, ~30% return on Investment

Mockup of Refreshed Exterior Full Paint

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

FOR IMMEDIATE RELEASE

Contact:

Investor Relations

Kristen Griffith

IR@nexpoint.com

(214) 276-6300

Media inquiries: Comms@nexpoint.com

NEXPOINT RESIDENTIAL TRUST, INC. REPORTS FIRST QUARTER 2026 RESULTS

NXRT Recaps Value-Add Results, Tames Expense Growth and Pays Down $33.0 Million on Credit Facility

Dallas, TX, April 28, 2026 – NexPoint Residential Trust, Inc. (NYSE:NXRT) reported financial results for the first quarter ended March 31, 2026.

Highlights

• NXRT1 reported net loss, FFO2, Core FFO2 and AFFO2 of $6.8M, $17.4M, $17.3M and $19.6M, respectively, attributable to common stockholders for the quarter ended March 31, 2026, compared to net loss, FFO, Core FFO, and AFFO of $6.9M, $17.4M, $19.1M and $21.6M, respectively, attributable to common stockholders for the quarter ended March 31, 2025.
• For the three months ended March 31, 2026, Q1 Same Store properties3 total revenue, NOI2 , average effective rent, and occupancy decreased 2.2%, 2.7%, 0.9% and 80 bps, respectively, over the prior year period.
• The weighted average effective monthly rent per unit across all 36 properties held as of March 31, 2026 (the “Portfolio”), consisting of 13,304 units4, was $1,485, while physical occupancy was 93.5%.
• NXRT paid a first quarter dividend of $0.53 per share of common stock on March 31, 2026 to stockholders of record on March 13, 2026.
• On February 3, 2026, NXRT used proceeds from a new mortgage note secured by Sedona at Lone Mountain to pay down $33.0 million of its outstanding principal balance on the Credit Facility.
• During the first quarter, for the properties in the Portfolio, NXRT completed 300 full and partial upgrades, leased 225 upgraded units, achieving an average monthly rent premium of $69 and a 19.0% ROI5.
• Since inception, NXRT has completed installation of 10,118 full and partial upgrades, 5,027 kitchen and laundry appliances and 11,199 technology packages, resulting in $155, $51 and $43 average monthly rental increase per unit and 20.7%, 63.5% and 37.2% ROI, respectively.
• In this release, “we,” “us,” “our,” the “Company,” and “NXRT” each refer to NexPoint Residential Trust, Inc., a Maryland corporation.
• FFO, Core FFO, AFFO and NOI are non-GAAP measures. For a discussion of why we consider these non-GAAP measures useful and reconciliations of FFO, Core FFO, AFFO and NOI to net income (loss), see the “Definitions and Reconciliations of Non-GAAP Measures” and “FFO, Core FFO and AFFO” sections of this release.
• We define “Same Store” properties as properties that were in our Portfolio for the entirety of the periods being compared. There are 35 properties encompassing 12,984 units of apartment space in our Same Store pool for the three months ended March 31, 2026 (our “Q1 Same Store” properties).
• Total number of units owned as of March 31, 2026 is 13,305, however 1 unit is currently down.
• We define Return on Investment (“ROI”) as the sum of the actual 12-month rent premium divided by the sum of the total cost.

NXRT.NEXPOINT.COM	Page 1

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

First Quarter 2026 Financial Results

• Total revenues were $63.5 million for the first quarter of 2026, compared to $63.2 million for the first quarter of 2025.
• Net loss attributable to common stockholders for the first quarter of 2026 totaled $6.8 million, or loss of $0.27 per diluted share. This compared to net loss attributable to common stockholders of $6.9 million, or loss of $0.27 per diluted share for the first quarter of 2025.
• The change in our net loss of $6.8 million for the three months ended March 31, 2026 as compared to our net loss of $6.9 million for the three months ended March 31, 2025 primarily relates to an increase in operating income of $1.1 million offset by an increase in interest expense of $1.0 million.
• For the first quarter of 2026, NOI was $37.6 million on 36 properties, compared to $37.8 million for the first quarter of 2025 on 35 properties.
• For the first quarter of 2026, Q1 Same Store NOI decreased 2.7% to $36.7 million, compared to $37.7 million for the full year 2025.
• For the first quarter of 2026, FFO totaled $17.4 million, or $0.69 per diluted share, compared to $17.4 million, or $0.68 per diluted share, for first quarter of 2025. For the first quarter of 2026, Core FFO totaled $17.3 million, or $0.68 per diluted share, compared to $19.1 million, or $0.75 per diluted share, for the first quarter of 2025. For the first quarter of 2026, AFFO totaled $19.6 million, or $0.77 per diluted share, compared to $21.6 million, or $0.84 per diluted share, for the first quarter of 2025.

Subsequent Events

• On April 27, 2026, the Company’s Board approved a quarterly dividend of $0.53 per share, payable on June 30, 2026 to stockholders of record on June 16, 2026.

First Quarter Earnings Conference Call

NXRT will host a call on Tuesday, April 28, 2026, at 11:00 a.m. ET (10:00 a.m. CT), to discuss its first quarter 2026 financial results. The conference call can be accessed live over the phone by dialing 888-660-4430 or, for international callers, +1 646-960-0537 and using passcode Conference ID: 5001576. A live audio webcast of the call will be available online at the Company's website, nxrt.nexpoint.com (under "Resources"). An online replay will be available shortly after the call on the Company's website and continue to be available for 60 days.

A replay of the conference call will also be available through Tuesday, May 14, 2026, by dialing 800-770-2030 or, for international callers, +1 647-362-9199 and entering passcode 5001576.

About NXRT

NexPoint Residential Trust, Inc. is a publicly traded real estate investment trust (“REIT”), with its common stock listed on the New York Stock Exchange and NYSE Texas, Inc. under the symbol “NXRT,” primarily focused on acquiring, owning and operating well-located middle-income multifamily properties with “value-add” potential in large cities and suburban submarkets of large cities, primarily in the Southeastern and Southwestern United States. NXRT is externally advised by NexPoint Real Estate Advisors, L.P., an affiliate of NexPoint Advisors, L.P., an SEC-registered investment advisor, which has extensive real estate experience. Our filings with the Securities and Exchange Commission (the “SEC”) are available on our website, nxrt.nexpoint.com, under the “Financials” tab.

NXRT.NEXPOINT.COM	Page 2

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

Cautionary Statement Regarding Forward-Looking Statements

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are based on management’s current expectations, assumptions and beliefs. Forward-looking statements can often be identified by words such as “expect,” “anticipate,” “estimate,” “may,” “plan,” “believe” and similar expressions, and variations or negatives of these words. These forward-looking statements include, but are not limited to, statements regarding NXRT’s business and industry in general, supply and demand outlook, forecasted submarket deliveries, 2026 full year guidance for earnings per diluted share and Core FFO per diluted share and the related components and assumptions, including acquisitions and dispositions, shares outstanding, and same store growth projections, NXRT’s net asset value and the related components and assumptions, including estimated value-add expenditures, debt payments, outstanding debt, and shares outstanding, net income and NOI guidance for the full year and second quarter of 2026 and the related assumptions, planned value-add programs, including projected average rehab costs, rent change and return on investment, and expected settlement of interest rate swaps and the effect on the debt maturity schedule, rehab budgets. They are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed in any forward-looking statement, including those described in greater detail in our filings with the SEC, particularly those described in our Annual Report on Form 10-K. Readers should not place undue reliance on any forward-looking statements and are encouraged to review the Company’s most recent Annual Report on Form 10-K and other filings with the SEC for a more complete discussion of the risks and other factors that could affect any forward-looking statements. The statements made herein speak only as of the date of this release and except as required by law, NXRT does not undertake any obligation to publicly update or revise any forward-looking statements.

NXRT.NEXPOINT.COM	Page 3

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

NEXPOINT RESIDENTIAL TRUST, INC: FIRST QUARTER 2026 OVERVIEW

Company Profile
(share counts in thousands)
---	---
Exchange/Ticker	NYSE; NYSE Texas: <br>NXRT
Share Price (1)	$26.36
Insider Ownership (2)	17.07%
2026 Q2 Dividend Per Share	$0.53
Dividend Yield (1)	8.04%
Shares outstanding - basic (3)	25,398
Shares outstanding - diluted (3)	25,398

• As of the close of market trading on April 27, 2026.
• As of the close of market trading on March 31, 2026.
• Weighted average for the three months ended March 31, 2026.

Portfolio Composition by Market
Market	% of Units
---	---	---	---
Phoenix		15.1	%
South Florida		14.7	%
Dallas/Fort Worth		14.6	%
Atlanta		12.7	%
Las Vegas		11.2	%
Nashville		10.1	%
Orlando		8.8	%
Raleigh		4.7	%
Tampa		4.3	%
Charlotte		3.8	%
Total		100.0	%

Revenue & Average Rent Per Unit	Stock Price Performance (Since Inception; 4/1/2015)
NXRT.NEXPOINT.COM	Page 4
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NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

Highlights of First Quarter 2026 Activity

Operating Snapshot
Metric	1Q'26	4Q'25	QoQ	1Q'25	YoY
Same Store Ending Physical Occupancy:	93.6%	92.7%	0.9%	94.40%	-0.8%
Same Store Blended Lease Trade-out %:	-1.92%	-1.36%	-0.56%	-1.59%	-0.3%
Same Store Average Effective Monthly Rent per Unit:	$1,482	$1,489	-0.5%	$1,495	-0.9%
Resident Turnover:	44.4%	41.9%	2.6%	46.3%	-1.9%
Move-outs to Purchase a Home:	7.9%	8.7%	0.8%	10.6%	2.7%
Move-outs to Rent a Home:	1.9%	2.6%	0.7%	1.2%	-0.6%
Bad Debt as % of Gross Potential Revenue:	0.55%	0.81%	32.0%	1.02%	45.7%
Monthly Leasing Cadence
Metric	Jan '26	Feb '26	Mar '26	Q1 '26	Apr MTD
New Lease Trade-out %	-7.0%	-7.3%	-5.6%	-6.6%	-4.0%
Renewal Lease Trade-out %	2.4%	2.5%	2.2%	2.3%	1.8%
Blended Lease Trade-out %	-1.9%	-2.1%	-1.7%	-1.9%	-1.2%
Ending Occupancy %	92.6%	93.0%	93.6%	93.6%	93.9%
Ending Leased %	94.6%	95.2%	95.6%	95.6%	95.9%
Resident Retention	54.8%	54.8%	57.2%	55.6%	55.8%
Market-Level Lease Trade-outs: Q1 2026
Market	New Leases	% Change	$ Change	Renewals	% Change	$ Change
Dallas/Fort Worth	210	-9.6%	-$114	181	1.9%	$22
Charlotte	36	-8.5%	-$126	69	1.3%	$18
Nashville	129	-7.7%	-$101	141	1.7%	$20
Atlanta	161	-5.8%	-$82	218	1.0%	$15
Orlando	163	-9.8%	-$152	125	1.1%	$17
Tampa	76	-7.2%	-$95	81	1.8%	$23
South Florida	187	-5.5%	-$123	231	1.7%	$36
Phoenix	201	-6.4%	-$95	229	-0.6%	-$12
Las Vegas	178	-1.5%	-$21	159	12.2%	$164
Raleigh	47	-3.8%	-$52	94	2.2%	$30
TOTAL	1,388	-6.6%	-$97	1,528	2.3%	$33
Leasing Data Indicators
Metric	Q2'25	Q3'25	Q4'25	Q1'26	April to Date
Leads	31,888	29,317	26,565	31,882	6,446
Tours	4,757	5,027	3,597	4,270	996
Self-Guided Tours	902	950	706	798	185
Applications	1,526	1,612	1,195	1,571	309
Lead to Application Conversion	4.8%	5.5%	4.5%	4.9%	4.8%
Tour to Application Conversion	32.1%	32.1%	33.2%	36.8%	31.0%
Move-ins	1,130	1,507	1,146	1,354	288
Supply & Demand Outlook - RealPage Market Analytics (1)
Metric	NXRT Submarkets		NXRT Markets
1Q'26 Supply	2,426		24,199
1Q'26 Demand	3,733		28,125
Net Absorption	+1,307		+3,926
1Q'26 Occupancy	94.1%		93.9%
FY'26 Supply	10,158		117,641
FY'26 Demand	10,239		103,850
Net Absorption	+81		-13,791

• Source: 2026 Realpage, Inc.; Data as of April 2026.

NXRT.NEXPOINT.COM	Page 5

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

FORECASTED SUBMARKET DELIVERIES(1)

Market	Submarket (RealPage)	Property	NXRT Unit Exposure		2026 Q1 Inventory		2025 Deliveries		2026 Deliveries		2027 Deliveries		2028 Deliveries		3-year Deliveries		3-year % Growth
ATL	Southeast Marietta	Rockledge		708		13,563		-		-		-		-		-	0.0%
ATL	Southeast Marietta	The Preserve at Terrell Mill		752		13,563		-		-		-		-		-	0.0%
ATL	Sandy Springs	The Adair		232		20,363		286		120		975		-		1,095	5.4%
CHA	Huntersville/Cornelius	The Verandas at Lake Norman		264		9,622		1,012		1,713		577		238		2,528	26.3%
CHA	Matthews/Southeast Charlotte	Creekside at Matthews		240		13,299		499		277		920		55		1,252	9.4%
DFW	East Fort Worth	The Venue at 8651		333		13,069		-		398		-		-		398	3.0%
DFW	Far North Dallas	Versailles		388		30,136		-		-		-		-		-	0.0%
DFW	Far North Dallas	Versailles II		242		30,136		-		-		-		-		-	0.0%
DFW	Hurst/Euless/Bedford	Arbors on Forest Ridge		210		33,875		526		326		-		-		326	1.0%
DFW	Hurst/Euless/Bedford	Summers Landing		196		33,875		526		326		-		-		326	1.0%
DFW	Oak Lawn/Park Cities	Atera		380		21,508		612		574		212		-		786	3.7%
DFW	Richardson	Cutters Point		196		20,443		223		336		881		169		1,386	6.8%
LSV	Northwest Las Vegas	Bella Solara		320		22,679		516		44		77		266		387	1.7%
LSV	Northwest Las Vegas	Bloom		528		22,679		516		44		77		266		387	1.7%
LSV	Southwest Las Vegas	Torreyana		316		22,442		1,173		1,300		751		236		2,287	10.2%
LSV	North Las Vegas	Sedona at Lone Mountain		321		12,427		522		750		271		-		1,021	8.2%
NASH	East Nashville	Residences at Glenview Reserve		360		15,561		852		52		168		-		220	1.4%
NASH	South Nashville	Arbors of Brentwood		346		18,215		264		60		133		-		193	1.1%
NASH	South Nashville	Brandywine		632		18,215		264		60		133		-		193	1.1%
ORL	East Orlando	The Cornerstone		430		22,776		337		370		363		-		733	3.2%
ORL	Northwest Orlando	Residences at West Place		342		17,698		465		29		299		-		328	1.9%
ORL	South Orange County	Sabal Palm at Lake Buena Vista		400		36,612		1,858		1,281		1,633		369		3,283	9.0%
PHX	Chandler	Fairways at San Marcos		352		27,091		815		661		354		157		1,172	4.3%
PHX	North Central Phoenix	Heritage		204		27,249		191		240		167		-		407	1.5%
PHX	North Central Phoenix	The Venue on Camelback		415		27,249		191		240		167		-		407	1.5%
PHX	Northeast Phoenix	Bella Vista		248		22,762		112		167		707		530		1,404	6.2%
PHX	South Tempe	Enclave		204		16,998		-		130		99		-		229	1.3%
PHX	Southwest Mesa	Madera Point		256		18,361		129		-		211		-		211	1.1%
PHX	West Phoenix	Estates on Maryland		330		15,596		-		57		-		-		57	0.4%
RDU	Far North Raleigh	Six Forks Station		323		13,487		63		555		286		-		841	6.2%
RDU	North Cary/Morrisville	High House at Cary		302		23,721		500		691		466		521		1,678	7.1%
SFL	Pembroke Pines/Miramar	Avant at Pembroke Pines		1,520		25,713		332		-		-		-		-	0.0%
SFL	West Palm Beach	Parc500		217		33,965		343		1,512		-		-		1,512	4.5%
SFL	West Palm Beach	Seasons 704		222		33,965		343		1,512		-		-		1,512	4.5%
TPA	Egypt Lake/Lowry Park	Courtney Cove		324		13,926		245		28		-		-		28	0.2%
TPA	Temple Terrace	The Summit at Sabal Park		252		16,551		202		246		84		-		330	2.0%
Totals/Averages		Total		13,305		599,708		12,077		11,917		9,634		2,541		24,092	4.0%

• Source: 2026 Realpage, Inc.; Data as of April 2026.

NXRT.NEXPOINT.COM	Page 6

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

Financial Summary

	Q1 2026			Q1 2025			FY 2025			FY 2024
(in thousands, except for per share and unit data)
Company Profile
Market Capitalization	$	637,000		$	1,011,000		$	763,000		$	1,061,000
Share Price (as of the last day of the period)	$	25.00		$	39.53		$	30.10		$	41.75
Weighted average common shares outstanding - basic		25,398			25,448			25,390			25,516
Weighted average common shares outstanding - diluted		25,398			25,448			25,390			26,246
Earnings Profile
Total revenues	$	63,544		$	63,216		$	251,281		$	259,701
Net income (loss) attributable to common stockholders		(6,754	)		(6,897	)		(32,027	)		1,110
NOI (1)		37,636			37,760			151,737			157,035
Same Store NOI (2)		36,699			37,734			151,591			154,050
Same Store NOI Growth (%) (2)		-2.7	%					-1.6	%
Earnings Metrics Per Common Share (diluted basis)
Earnings (loss)	$	(0.27	)	$	(0.27	)	$	(1.26	)	$	0.04
FFO (1)	$	0.69		$	0.68		$	2.48		$	1.69
Core FFO (1)	$	0.68		$	0.75		$	2.79		$	2.79
AFFO (1)	$	0.77		$	0.84		$	3.18		$	3.19
Dividends declared per common share	$	0.53		$	0.51		$	2.06		$	1.90
Net Income (Loss) Coverage (3)	-0.51x			-0.53x			-0.61x			0.02x
FFO Coverage (3)	1.30x			1.33x			1.20x			0.89x
Core FFO Coverage (3)	1.28x			1.46x			1.35x			1.47x
AFFO Coverage (3)	1.46x			1.65x			1.54x			1.68x
Portfolio
Total Properties		36			35			36			35
Total Units (4)		13,304			12,948			13,305			12,984
Occupancy		93.5	%		94.4	%		92.7	%		94.7	%
Average Effective Monthly Rent per Unit	$	1,485		$	1,495		$	1,492		$	1,491
Same Store Portfolio Metrics (2)
Total Same Store Properties		35			35			35			35
Total Same Store Units		12,984			12,948			12,963			12,948
Occupancy		93.6	%		94.4	%		92.7	%		94.7	%
Average Effective Monthly Rent per Unit	$	1,482		$	1,495		$	1,489		$	1,491
Value-Add Program
Completed Full and Partial Interior Rehab Units		300			210			1,518			388
Cumulative Completed Rehab Units (5)		10,118
Average Increase to Effective Monthly Rent<br>     per Unit (Post-Rehab)	$	155
ROI on Post-Rehab Units		20.7	%
Outstanding Debt Summary
Total Mortgage Debt	$	1,543,529		$	1,503,242
Credit Facility		57,000			—
Total Debt Outstanding	$	1,600,529		$	1,503,242
Leverage Ratio (Total Debt to Market Capitalization plus Total Debt)		72	%		60	%
Leverage Ratio (Net Debt to Enterprise Value) (6)		71	%		59	%

• For more information and reconciliations of NOI, FFO, Core FFO and AFFO, see the “FFO, Core FFO and AFFO,” “NOI and Same Store NOI” and “Definitions and Reconciliations of Non-GAAP Measures” sections of this release.
• We define “Same Store” properties as properties that were in our Portfolio for the entirety of the periods being compared. For additional information regarding our Q1 Same Store properties, see the “Q1 Same Store Results” section of this release.
• Indicates coverage ratio of net loss/FFO/Core FFO/AFFO per common share (diluted) over dividends declared per common share during the period. The Company uses actual diluted weighted average common shares outstanding when in a dilutive position for FFO, Core FFO and AFFO. For periods in which potential common shares are anti‑dilutive, diluted weighted‑average shares outstanding are equal to basic weighted‑average shares outstanding.
• Total units owned is 13,305, however 1 unit is currently down.
• Inclusive of all full and partial interior upgrades completed through March 31, 2026. Cumulative results exclude rehabs completed for properties sold through March 31, 2026.
• For more information and a reconciliation of debt to net debt, see the “Definitions and Reconciliations of Non-GAAP Measures” section of this release.

NXRT.NEXPOINT.COM	Page 7

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

2026 Full Year Guidance Summary

NXRT is reaffirming 2026 guidance ranges for earnings (loss) per diluted share, Core FFO per diluted share, Same Store rental income, Same Store total revenue, Same Store total expenses, Same Store NOI, and acquisitions and dispositions as follows (dollars in millions, except per share amounts):

	Guidance Range (1)
	Low-End			Mid-Point			High-End
Earnings (loss) per diluted share (1)	$	(1.54	)	$	(1.40	)	$	(1.26	)
Core FFO per diluted share (1) (2)	$	2.42		$	2.57		$	2.71
Same Store Growth: (3)
Rental Income		0.0	%		0.9	%		1.9	%
Total Revenue		0.1	%		1.1	%		2.0	%
Total Expenses		4.2	%		3.5	%		2.8	%
Same Store NOI (2)		-2.5	%		-0.5	%		1.5	%
Other Considerations: (4)
Acquisitions	$	—		$	100.0		$	200.0
Dispositions	$	—		$	100.0		$	200.0

• Weighted average diluted share count estimate for full year 2026 is approximately 25.7 million.
• Same Store NOI and Core FFO are non-GAAP measures. For reconciliations of Full Year 2026 Same Store NOI and Core FFO guidance to net loss guidance, and a discussion of why we consider these non-GAAP measures useful, see the “Definitions and Reconciliations of Non-GAAP Measures” section of this release.
• Year-over-year growth for the Full Year 2026 Same Store pool (35 properties).
• We continue to evaluate our Portfolio for capital recycling opportunities. Transaction volumes presented are incorporated into the earnings per share and Core FFO guidance above. Actual acquisitions and dispositions could vary significantly from our projections. We undertake no duty to update these assumptions, except as required by law.

Additional information on 2026 financial and earnings guidance is included in the following sections of this release.

NXRT.NEXPOINT.COM	Page 8

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

Components of Net Asset Value

(dollar and share amounts in thousands, except per share and per unit data)

REAL ESTATE VALUE BY MARKET
Property	NOI	Cap Rate Range (1)		Value Range (2)
---	---	---	---	---	---	---	---
Market	Contribution	Min	Max	Min		Max
Texas
Dallas/Fort Worth	10.3%	5.25%	5.75%	$	272,106	$	310,606
North Carolina
Raleigh	4.3%	5.25%	5.75%		114,735		130,969
Charlotte	4.0%	5.25%	5.75%		104,821		119,652
Georgia
Atlanta	12.1%	5.25%	5.75%		318,274		363,306
Tennessee
Nashville	9.0%	5.25%	5.75%		236,365		269,808
Florida
Orlando	9.1%	5.25%	5.75%		240,930		275,018
Tampa	3.5%	5.25%	5.75%		93,355		106,564
South Florida	20.6%	5.25%	5.75%		544,933		622,035
Nevada
Las Vegas	11.5%	5.25%	5.75%		303,974		346,982
Arizona
Phoenix	15.6%	5.25%	5.75%		411,021		469,176
Total / Ave	100.0%	5.25%	5.75%	$	2,640,514	$	3,014,116
NOI ESTIMATE
---
4Q 2025 NOI Actual			37,124
---	---	---	---	---	---
Q1 2026 NOI Actual			37,636
	Low			High
Estimated Q2 2026 NOI Guidance (3)		37,559			39,411
2026 NOI Guidance (3)	$	151,830		$	158,241
NAV SUMMARY
---
Component	Min					Max
---	---	---	---	---	---	---	---
Tangible Assets
Real Estate (2)	$	2,640,514				$	3,014,116
Cash				18,465
Restricted Cash - Renovation Reserves (4)				7,401
Renovation Expenditures (4)				(7,401	)
Cash Adjustments				0
Fair Market Value of Interest Rate Swaps				9,222
Other Assets				40,727
Value of Assets	$	2,708,928				$	3,082,530
Tangible Liabilities
Credit Facility (5)			$	57,000
Mortgage Debt				1,543,529
Total Outstanding Debt				1,600,529
Forward 12-month Principal Payments				0
Total Outstanding Debt (FY 2026 Est.)				1,600,529
Other Tangible Liabilities (at Book)				29,667
Value of Liabilities			$	1,630,196
Net Leverage (mid-point)			56%
Net Asset Value	$	1,078,732				$	1,452,334
Shares outstanding - diluted (FY 2026 Est.)				26,530
Est. NAV / Share	$	40.66				$	54.74
NAV / Share (mid-point)			$	47.70
IMPLIED VALUATION METRICS
---
	Min				Max
---	---	---	---	---	---	---
Implied Real Estate Value	$	2,640,514			$	3,014,116
No. of Units (March 31, 2026) (2)				13,305
Implied Value/Apartment Unit	$	198.5			$	226.5
Implied Value/Apartment Unit (mid-point)			$	212.5

• Management estimates based on independent third-party review of our properties.
• Estimated value ranges are presented for the existing portfolio 36 properties at March 31, 2026.
• The Company anticipates net loss will be in the range between approximately $39.7 million and $32.5 million for the full year 2026 and between $11.6 million and $9.7 million for the second quarter of 2026. FY 2026 NOI Guidance considers a commensurate volume of capital recycling.
• Includes approximately $7.4 million that is held for value-add upgrades; reduced by $7.4 million for estimated 2026 rehab expenditures.
• Includes outstanding balance as of March 31, 2026.

NXRT.NEXPOINT.COM	Page 9

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

NEXPOINT RESIDENTIAL TRUST, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(in thousands, except share and per share amounts)

			December 31, 2025
ASSETS
Operating Real Estate Investments
Land	371,656		$	371,656
Buildings and improvements	1,816,938			1,812,311
Intangible lease assets	1,052			1,052
Construction in progress	5,713			8,535
Furniture, fixtures and equipment	229,950			224,661
Total Gross Operating Real Estate Investments	2,425,309			2,418,215
Accumulated depreciation and amortization	(628,612	)		(604,321	)
Total Net Operating Real Estate Investments	1,796,697			1,813,894
Cash and cash equivalents	18,465			13,704
Restricted cash	34,318			31,476
Accounts receivable, net	8,760			9,059
Prepaid and other assets	5,050			4,852
Fair market value of interest rate swaps	9,222			13,434
TOTAL ASSETS	1,872,512		$	1,886,419
LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities:
Mortgages payable, net	1,510,401		$	1,469,410
Credit facility, net	55,292			88,102
Accounts payable and other accrued liabilities	11,697			11,554
Accrued real estate taxes payable	7,203			5,251
Accrued interest payable	6,701			7,053
Security deposit liability	2,885			2,980
Prepaid rents	1,181			1,170
Fair market value of interest rate swaps	—			475
Total Liabilities	1,595,360			1,585,995
Redeemable noncontrolling interests in the OP	4,724			4,928
Stockholders' Equity:
Preferred stock, 0.01 par value: 100,000,000 shares authorized; 0 shares issued	—			—
Common stock, 0.01 par value: 500,000,000 shares authorized; 25,491,439 and 25,364,470 shares issued and outstanding, respectively	255			254
Additional paid-in capital	407,722			406,628
Accumulated earnings less dividends	(143,850	)		(123,409	)
Accumulated other comprehensive income	8,301			12,023
Total Stockholders' Equity	272,428			295,496
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	1,872,512		$	1,886,419

All values are in US Dollars.

NXRT.NEXPOINT.COM	Page 10

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

NEXPOINT RESIDENTIAL TRUST, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

AND COMPREHENSIVE LOSS

(in thousands, except per share amounts)

(Unaudited)

	For the Three Months Ended March 31,
	2026			2025
Revenues
Rental income	$	61,056		$	61,440
Other income		2,488			1,776
Total revenues		63,544			63,216
Expenses
Property operating expenses		12,343			12,468
Real estate taxes and insurance		8,079			9,002
Property management fees (1)		1,814			1,820
Advisory and administrative fees (2)		1,771			1,696
Corporate general and administrative expenses		4,473			4,457
Property general and administrative expenses		2,254			2,000
Depreciation and amortization		24,291			24,350
Total expenses		55,025			55,793
Operating income		8,519			7,423
Interest expense		(15,442	)		(14,381	)
Casualty loss		—			(163	)
Equity in earnings of affiliate		68			55
Miscellaneous income		74			142
Net loss		(6,781	)		(6,924	)
Net loss attributable to redeemable noncontrolling interests in the OP		(27	)		(27	)
Net loss attributable to common stockholders	$	(6,754	)	$	(6,897	)
Other comprehensive loss
Unrealized losses on interest rate derivatives		(3,737	)		(10,172	)
Total comprehensive loss		(10,518	)		(17,096	)
Comprehensive loss attributable to redeemable noncontrolling interests in the OP		(42	)		(67	)
Comprehensive loss attributable to common stockholders	$	(10,476	)	$	(17,029	)
Weighted average common shares outstanding - basic		25,398			25,448
Weighted average common shares outstanding - diluted		25,398			25,448
Loss per share - basic	$	(0.27	)	$	(0.27	)
Loss per share - diluted	$	(0.27	)	$	(0.27	)

• Fees incurred to an unaffiliated third party that is an affiliate of a noncontrolling limited partner of NexPoint Residential Trust Operating Partnership, L.P. (the "OP").
• Fees incurred to the Company’s adviser.

NXRT.NEXPOINT.COM	Page 11

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

NOI and Same Store NOI

The following table, which has not been adjusted for the effects of noncontrolling interests, reconciles NOI and our Q1 Same Store NOI for the three months ended March 31, 2026 and 2025 to net loss, the most directly comparable GAAP financial measure (in thousands):

		For the Three Months Ended March 31,
		2026			2025
Net loss		$	(6,781	)	$	(6,924	)
Adjustments to reconcile net loss to NOI:
Advisory and administrative fees			1,771			1,696
Corporate general and administrative expenses			4,473			4,457
Corporate income			(590	)		(442	)
Casualty-related recoveries	(1)		(1,753	)		(656	)
Casualty loss			—			163
Property general and administrative expenses	(2)		851			790
Depreciation and amortization			24,291			24,350
Interest expense			15,442			14,381
Equity in earnings of affiliate			(68	)		(55	)
NOI		$	37,636		$	37,760
Less Non-Same Store
Revenues			(1,560	)		(4	)
Operating expenses			623			(22	)
Same Store NOI		$	36,699		$	37,734

• Adjustment to net loss to exclude certain property operating expenses that are casualty-related recoveries.
• Adjustment to net loss to exclude certain property general and administrative expenses that are not reflective of the continuing operations of the properties or are incurred on our behalf at the property for expenses such as legal, professional, centralized leasing service and franchise tax fees.

NXRT.NEXPOINT.COM	Page 12

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

Q1 Same Store Results of Operations for the Three Months Ended March 31, 2026 and 2025

There are 35 properties encompassing 12,984 units of apartment space, or approximately 98% of our Portfolio, in our Q1 Same Store properties. Our Q1 Same Store properties excludes Sedona at Lone Mountain from our Portfolio as of March 31, 2026.

As of March 31, 2026, our Q1 Same Store properties were approximately 93.6% leased with a weighted average monthly effective rent per occupied apartment unit of $1,482, which were decreases of 80 bps and $13, respectively.

The following table reflects the revenues, property operating expenses and NOI for the three months ended March 31, 2026 and 2025 for our Q1 Same Store and Non-Same Store properties (dollars in thousands):

	For the Three Months Ended March 31,
	2026		2025			Change		% Change
Revenues
Same Store
Rental income	$	59,540	$	61,436			)		-3.1	%
Other income		1,854		1,334					39.0	%
Same Store revenues		61,394		62,770			)		-2.2	%
Non-Same Store
Rental income		1,516		4				N/M
Other income		44		—					0.0	%
Non-Same Store revenues		1,560		4				N/M
Total revenues		62,954		62,774					0.3	%
Operating expenses
Same Store
Property operating expenses (1)		13,811		13,122					5.3	%
Real estate taxes and insurance		7,810		9,026			)		-13.5	%
Property management fees (2)		1,773		1,820			)		-2.6	%
Property general and administrative expenses (3)		1,375		1,210					13.6	%
Same Store operating expenses		24,769		25,178			)		-1.6	%
Non-Same Store
Property operating expenses		285		2				N/M
Real estate taxes and insurance		269		(24	)			N/M
Property management fees (2)		41		—					0.0	%
Property general and administrative expenses (4)		28		—					0.0	%
Non-Same Store operating expenses		623		(22	)			N/M
Total operating expenses		25,392		25,156					0.9	%
Operating income
Same Store
Miscellaneous income		74		142			)		-47.9	%
Total operating income		74		142			)		-47.9	%
NOI
Same Store		36,699		37,734			)		-2.7	%
Non-Same Store		937		26				N/M
Total NOI (6)	$	37,636	$	37,760			)		-0.3	%

All values are in US Dollars.

• For the three months ended March 31, 2026 and 2025, excludes approximately $96,000 and $(656,000), respectively, of casualty-related expenses/(recoveries).
• Fees incurred to an unaffiliated third party that is an affiliate of a noncontrolling limited partner of the OP.
• For the three months ended March 31, 2026 and 2025, excludes approximately $807,000 and $791,000, respectively, of expenses that are not reflective of the continuing operations of the properties or are incurred on our behalf at the property for expenses such as legal, professional, centralized leasing service and franchise tax fees.
• For the three months ended March 31, 2026 and 2025, excludes approximately $44,000 and $(1,000), respectively, of expenses that are not reflective of the continuing operations of the properties or are incurred on our behalf at the property for expenses such as legal, professional, centralized leasing service and franchise tax fees.

NXRT.NEXPOINT.COM	Page 13

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

• For additional information regarding NOI, see the “Definitions and Reconciliations of Non-GAAP Measures” and “NOI and Same Store NOI” sections of this release.

The following table contains additional information about our Q1 Same Store properties rent and occupancy metrics, revenues, operating expenses and NOI for the three months ended March 31, 2026 and 2025 (dollars in thousands, except for per unit data):

	Q1 2026			Q1 2025			% Change
Same Store Total Units		12,984			12,948
Same Store Occupied Units		12,154			12,228
Same Store Ending Occupancy		93.6	%		94.4	%		-0.8	%
Same Store Average Rent per Unit	$	1,482		$	1,495			-0.9	%
Same Store Revenues
Same Store Rental Income	$	59,540		$	61,436			-3.1	%
Same Store Other Income		1,854			1,334			39.0	%
Total Same Store Revenues		61,394			62,770			-2.2	%
Same Store Operating Expenses
Payroll		4,739			4,949			-4.2	%
Repairs & Maintenance		6,036			5,238			15.2	%
Utilities		3,036			2,935			3.4	%
Real Estate Taxes		6,511			7,329			-11.2	%
Insurance		1,299			1,697			-23.5	%
Property Management Fees		1,773			1,820			-2.6	%
Office Operations		916			905			1.2	%
Marketing		459			305			50.5	%
Total Same Store Operating Expenses		24,769			25,178			-1.6	%
Same Store Operating Income
Miscellaneous income		74			142			-47.9	%
Total Same Store Operating Income		74			142			-47.9	%
Q1 Same Store NOI	$	36,699		$	37,734			-2.7	%
NXRT.NEXPOINT.COM	Page 14
---	---

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

Q1 Same Store Properties Operating Metrics

(dollars in thousands, except for per unit data)

Properties by Market (1)	Unit Count		Average Effective Rent					Occupancy								Total Rental Income
	Total		Q1 2026		Q1 2025		% Change	Q1 2026			Q1 2025			bps ∆		Q1 2026		Q1 2025		% Change
Texas
Dallas		1,945	$	1,207	$	1,236	-2.3%		92.0	%		93.3	%		-130	$	7,552	$	7,992	-5.5%
Average/Total		1,945		1,207		1,236	-2.3%		92.0	%		93.3	%		-130		7,552		7,992	-5.5%
North Carolina
Charlotte		504		1,396		1,389	0.5%		93.7	%		95.2	%		-150		2,224		2,274	-2.2%
Raleigh/Durham		625		1,431		1,409	1.6%		94.1	%		92.2	%		190		2,710		2,636	2.8%
Average/Total		1,129		1,415		1,400	1.1%		93.9	%		93.5	%		40		4,934		4,910	0.5%
Georgia
Atlanta		1,692		1,450		1,463	-0.9%		92.6	%		93.8	%		-120		7,436		7,552	-1.5%
Average/Total		1,692		1,450		1,463	-0.9%		92.6	%		93.8	%		-120		7,436		7,552	-1.5%
Tennessee
Nashville		1,338		1,244		1,265	-1.7%		92.6	%		95.4	%		-280		5,257		5,483	-4.1%
Average/Total		1,338		1,244		1,265	-1.7%		92.6	%		95.4	%		-280		5,257		5,483	-4.1%
Florida
Orlando		1,172		1,535		1,553	-1.2%		92.8	%		94.6	%		-180		5,309		5,635	-5.8%
Tampa		576		1,337		1,327	0.8%		92.9	%		94.3	%		-140		2,345		2,456	-4.5%
South Florida		1,959		2,127		2,142	-0.7%		95.2	%		95.5	%		-30		12,794		13,110	-2.4%
Average/Total		3,707		1,817		1,829	-0.7%		94.1	%		95.0	%		-90		20,448		21,201	-3.6%
Arizona
Phoenix		2,009		1,395		1,435	-2.8%		95.1	%		94.6	%		50		8,900		9,224	-3.5%
Average/Total		2,009		1,395		1,435	-2.8%		95.1	%		94.6	%		50		8,900		9,224	-3.5%
Nevada
Las Vegas		1,164		1,378		1,357	1.5%		94.5	%		95.0	%		-50		5,013		5,074	-1.2%
Average/Total		1,164		1,378		1,357	1.5%		94.5	%		95.0	%		-50		5,013		5,074	-1.2%
Average/Total		12,984	$	1,482	$	1,495	-0.9%		93.6	%		94.4	%		-80	$	59,540	$	61,436	-3.1%

• This table includes the 35 properties in our Q1 Same Store pool.

NXRT.NEXPOINT.COM	Page 15

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

QoQ Same Store Properties Operating Metrics

(dollars in thousands, except for per unit data)

Properties by Market (1)	Unit Count		Average Effective Rent					Occupancy								Total Rental Income
	Total		Q1 2026		Q4 2025		% Change	Q1 2026			Q4 2025			bps ∆		Q1 2026		Q4 2025		% Change
Texas
Dallas		1,945	$	1,207	$	1,227	-1.6%		92.0	%		90.8	%		120	$	7,552	$	7,647	-1.2%
Average/Total		1,945		1,207		1,227	-1.6%		92.0	%		90.8	%		120		7,552		7,647	-1.2%
North Carolina
Charlotte		504		1,396		1,398	-0.1%		93.7	%		93.7	%		0		2,224		2,294	-3.1%
Raleigh/Durham		625		1,431		1,404	1.9%		94.1	%		93.0	%		110		2,710		2,741	-1.1%
Average/Total		1,129		1,415		1,401	1.0%		93.9	%		93.3	%		60		4,934		5,035	-2.0%
Georgia
Atlanta		1,692		1,450		1,465	-1.0%		92.6	%		92.6	%		0		7,436		7,424	0.2%
Average/Total		1,692		1,450		1,465	-1.0%		92.6	%		92.6	%		0		7,436		7,424	0.2%
Tennessee
Nashville		1,338		1,244		1,255	-0.9%		92.6	%		92.2	%		40		5,257		5,305	-0.9%
Average/Total		1,338		1,244		1,255	-0.9%		92.6	%		92.2	%		40		5,257		5,305	-0.9%
Florida
Orlando		1,172		1,535		1,536	-0.1%		92.8	%		92.1	%		70		5,309		5,426	-2.2%
Tampa		576		1,337		1,343	-0.4%		92.9	%		91.7	%		120		2,345		2,429	-3.5%
South Florida		1,959		2,127		2,154	-1.3%		95.2	%		94.5	%		70		12,795		12,914	-0.9%
Average/Total		3,707		1,817		1,833	-0.9%		94.1	%		93.3	%		80		20,449		20,769	-1.5%
Arizona
Phoenix		2,009		1,395		1,391	0.3%		95.1	%		94.5	%		60		8,900		8,800	1.1%
Average/Total		2,009		1,395		1,391	0.3%		95.1	%		94.5	%		60		8,900		8,800	1.1%
Nevada
Las Vegas		1,164		1,378		1,364	1.0%		94.5	%		91.0	%		350		5,013		4,947	1.3%
Average/Total		1,164		1,378		1,364	1.0%		94.5	%		91.0	%		350		5,013		4,947	1.3%
Average/Total		12,984	$	1,482	$	1,489	-0.5%		93.6	%		92.7	%		90	$	59,541	$	59,927	-0.6%

• This table includes the 35 properties in our Q1 Same Store pool.

NXRT.NEXPOINT.COM	Page 16

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

FFO, Core FFO and AFFO

The following table reconciles our calculations of FFO, Core FFO and AFFO to net loss, the most directly comparable GAAP financial measure, for the three months ended March 31, 2026 and 2025 (in thousands, except per share amounts):

		For the Three Months Ended March 31,
		2026			2025			% Change
Net loss		$	(6,781	)	$	(6,924	)		2.1	%
Depreciation and amortization			24,291			24,350			-0.2	%
Adjustment for noncontrolling interests			(69	)		(69	)		0.0	%
FFO attributable to common stockholders			17,441			17,357			0.5	%
FFO per share - basic		$	0.69		$	0.68			0.7	%
FFO per share - diluted		$	0.69		$	0.68			1.2	%
Casualty-related recoveries			(1,753	)		(656	)	N/M
Casualty loss			—			163		N/M
Amortization of deferred financing costs			1,683			1,644			2.4	%
Mark-to-market adjustments of interest rate caps			(98	)		591		N/M
Adjustment for noncontrolling interests			1			(7	)	N/M
Core FFO attributable to common stockholders			17,274			19,092			-9.5	%
Core FFO per share - basic		$	0.68		$	0.75			-9.3	%
Core FFO per share - diluted		$	0.68		$	0.75			-8.9	%
Equity-based compensation expense			2,362			2,475			-4.6	%
Adjustment for noncontrolling interests			(9	)		(10	)		-10.0	%
AFFO attributable to common stockholders			19,627			21,557			-9.0	%
AFFO per share - basic		$	0.77		$	0.85			-8.8	%
AFFO per share - diluted		$	0.77		$	0.84			-8.3	%
Weighted average common shares outstanding - basic			25,398			25,448			-0.2	%
Weighted average common shares outstanding - diluted	(1)		25,398			25,576			-0.7	%
Dividends declared per common share		$	0.53		$	0.51			3.9	%
Net loss Coverage - diluted	(2)	-0.51x			-0.53x				-3.8	%
FFO Coverage - diluted	(2)	1.30x			1.33x				-2.6	%
Core FFO Coverage - diluted	(2)	1.28x			1.46x				-12.3	%
AFFO Coverage - diluted	(2)	1.46x			1.65x				-11.8	%

• The Company uses the diluted weighted average common shares outstanding when in a dilutive position for FFO, Core FFO and AFFO. For periods in which potential common shares are anti‑dilutive, diluted weighted‑average shares outstanding are equal to basic weighted‑average shares outstanding.
• Indicates coverage ratio of net loss/FFO/Core FFO/AFFO per common share (diluted) over dividends declared per common share during the period.

NXRT.NEXPOINT.COM	Page 17

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

Historical Capital Expenditures

		Q1 2025		% Change
( in thousands)
Capitalized Rehab Expenditures
Interior	1,229	$	652		88.7	%
Exterior and common area	396		58		586.8	%
Capitalized Maintenance Expenditures
Recurring	3,390		2,797		21.2	%
Non-Recurring	1,899		2,286		-16.9	%
Total Capital Expenditures	6,914	$	5,792		19.4	%

All values are in US Dollars.

NXRT.NEXPOINT.COM	Page 18

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

Value-Add Program Details: Interiors (Full & Partials)

Property Name (1)	Units		Rehab Units<br>Completed (2)		Average Rent<br>Pre-Rehab		Average Rent<br>Post-Rehab		Avg. Rehab<br>Cost<br>Per Unit (3)		Post-Rehab<br>Rent<br>Change %			ROI (3)
Value-Add Programs In Progress
Arbors of Brentwood		346		207	$	1,199	$	1,391	$	9,201		16.0	%		25.0	%
Arbors on Forest Ridge		210		208		784		874		4,041		11.6	%		27.0	%
Atera Apartments		380		280		1,182		1,316		3,194		11.4	%		50.6	%
Avant at Pembroke Pines		1,520		870		1,821		2,050		16,031		12.6	%		17.1	%
Bella Solara		320		154		1,251		1,390		9,687		11.1	%		17.2	%
Bella Vista		248		221		1,456		1,592		10,084		9.3	%		16.2	%
Bloom		528		187		1,228		1,369		12,124		11.5	%		14.0	%
Brandywine I & II		632		657		1,013		1,193		10,336		17.7	%		20.9	%
Courtney Cove		324		356		969		1,066		4,409		10.0	%		26.3	%
Creekside at Matthews		240		120		1,332		1,507		8,935		13.1	%		23.5	%
Cutter's Point		196		200		950		1,054		5,580		10.9	%		22.4	%
Estates on Maryland		330		150		1,265		1,420		10,737		12.2	%		17.3	%
Fairways of San Marcos		352		207		1,433		1,574		10,035		9.8	%		16.8	%
High House at Cary		302		168		1,330		1,545		10,912		16.2	%		23.7	%
Madera Point		256		290		898		1,003		4,287		11.6	%		29.3	%
Parc500		217		265		1,349		1,515		12,707		12.2	%		15.6	%
Residences at Glenview Reserve		360		339		1,075		1,295		12,787		20.5	%		20.7	%
Residences at West Place		342		209		1,513		1,700		11,382		12.4	%		19.8	%
Rockledge Apartments		708		621		1,253		1,412		8,671		12.7	%		22.1	%
Sabal Palm at Lake Buena Vista		400		182		1,469		1,609		8,112		9.6	%		20.8	%
Sedona at Lone Mountain		321		1		1,433		1,443		1,757		0.7	%		6.8	%
Seasons 704 Apartments		222		271		1,229		1,352		7,031		10.1	%		21.1	%
Six Forks Station		323		165		1,113		1,376		11,534		23.7	%		27.4	%
Summers Landing		196		89		1,027		1,194		8,446		16.2	%		23.7	%
Summit at Sabal Park		252		261		1,022		1,117		5,459		9.4	%		21.0	%
The Adair		232		173		1,722		1,992		11,370		15.7	%		28.6	%
The Cornerstone		430		580		1,047		1,139		4,650		8.9	%		23.9	%
The Enclave		204		195		1,441		1,606		9,376		11.5	%		21.2	%
The Heritage		204		192		1,379		1,506		9,089		9.2	%		16.8	%
The Preserve at Terrell Mill		752		894		885		1,047		10,119		18.3	%		19.2	%
The Verandas at Lake Norman		264		115		1,238		1,390		9,504		12.3	%		19.2	%
The Venue on Camelback		415		321		772		1,011		9,837		30.9	%		29.1	%
Torreyana Apartments		316		70		1,383		1,491		11,022		7.8	%		11.8	%
Venue at 8651		333		346		854		953		6,257		11.6	%		19.0	%
Versailles		388		419		811		892		4,947		10.0	%		19.7	%
Versailles II		242		135		846		926		3,682		9.5	%		26.1	%
Total/Weighted Average		13,305		10,118	$	1,166	$	1,321	$	8,971		13.3	%		20.7	%

• We do not plan to upgrade 100% of the units at each of our properties.
• Inclusive of all full and partial interior upgrades completed through March 31, 2026.
• Inclusive of all full and partial interior upgrades completed and leased through March 31, 2026.

NXRT.NEXPOINT.COM	Page 19

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

Value-Add Program Details: Kitchen & Laundry Appliances

Property Name (1)	Units		Rehab Units<br>Completed (2)		Avg. Rehab<br>Cost<br>Per Unit (3)		Post-RehabRentChange	ROI (3)
Value-Add Programs In Progress
Arbors of Brentwood		346		319	$	871			68.8	%
Arbors on Forest Ridge		210		136		787			71.4	%
Atera Apartments		380		369		813			59.7	%
Avant at Pembroke Pines		1,520		566		1,293			46.9	%
Brandywine I & II		632		226		1,097			79.0	%
Creekside at Matthews		240		180		1,100			60.6	%
Cutter's Point		196		152		794			70.2	%
Estates on Maryland		330		21		1,067			42.3	%
Madera Point		256		158		893			41.3	%
Residences at Glenview Reserve		360		103		1,248			52.9	%
Rockledge Apartments		708		628		825			58.2	%
Sabal Palm at Lake Buena Vista		400		634		599			171.8	%
Six Forks Station		323		199		1,088			60.7	%
Summers Landing		196		111		890			78.7	%
Summit at Sabal Park		252		249		994			48.3	%
The Adair		232		11		1,083			92.8	%
The Cornerstone		430		17		809			74.2	%
The Verandas at Lake Norman		264		222		1,085			51.5	%
Venue at 8651		333		272		779			72.4	%
Versailles		388		315		878			67.5	%
Versailles II		242		139		887			38.7	%
Total/Weighted Average		8,238		5,027	$	955			63.5	%

All values are in US Dollars.

• We do not plan to upgrade 100% of the units at each of our properties.
• Inclusive of all kitchen and laundry appliance upgrades completed through March 31, 2026.
• Inclusive of all kitchen and laundry appliance upgrades completed and leased through March 31, 2026.

NXRT.NEXPOINT.COM	Page 20

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

Value-Add Program Details: Smart Home Technology Packages

Property Name (1)	Units		Rehab Units<br>Completed (2)		Avg. Rehab<br>Cost<br>Per Unit (3)		Post-RehabRentChange	ROI (3)
Value-Add Programs In Progress
Arbors of Brentwood		346		346	$	1,419			30.9	%
Arbors on Forest Ridge		210		210		1,416			30.9	%
Atera Apartments		380		380		1,339			37.0	%
Avant at Pembroke Pines		1,520		1,520		1,350			32.4	%
Bella Solara		320		320		820			39.5	%
Bella Vista		248		248		970			39.3	%
Bloom		528		528		901			42.3	%
Brandywine I & II		632		632		1,234			35.5	%
Courtney Cove		324		324		1,238			26.2	%
Creekside at Matthews		240		240		913			72.9	%
Cutter's Point		196		196		1,400			31.3	%
Estates on Maryland		330		330		1,074			14.2	%
Fairways at San Marcos		352		352		901			42.3	%
High House at Cary		302		302		899			74.1	%
Madera Point		256		256		1,283			34.1	%
Residences at Glenview Reserve		360		360		1,017			43.1	%
Rockledge Apartments		708		708		942			34.4	%
Sabal Palm at Lake Buena Vista		400		400		1,237			35.4	%
Six Forks Station		323		323		844			38.4	%
Summers Landing		196		196		1,449			30.2	%
The Adair		232		232		913			48.0	%
The Cornerstone		430		430		1,236			35.4	%
The Enclave		204		204		966			39.4	%
The Heritage		204		204		997			38.2	%
The Venue on Camelback Apartments		415		415		808			33.0	%
The Verandas at Lake Norman		264		264		954			69.8	%
Torreyana Apartments		316		316		900			36.0	%
Venue at 8651		333		333		1,229			35.6	%
Versailles		388		388		1,080			40.6	%
Versailles II		242		242		1,241			35.3	%
Total/Weighted Average		11,199		11,199	$	1,113			37.2	%
Planned Value-Add Programs							Rent Change & ROI(Projections)
Residences at West Place		342		—	TBD		TBD	TBD
Seasons 704 Apartments		222		—	TBD		TBD	TBD
Sedona at Lone Mountain		321		—	TBD		TBD	TBD
Summit at Sabal Park		252		—	TBD		TBD	TBD
The Preserve at Terrell Mill		752		—	TBD		TBD	TBD
Total/Weighted Average Planned		1,889		—	TBD		TBD	TBD

All values are in US Dollars.

• We do not plan to upgrade 100% of the units at each of our properties.
• Inclusive of all smart home technology package upgrades completed through March 31, 2026.
• Inclusive of all smart home technology package upgrades completed and leased through March 31, 2026.

NXRT.NEXPOINT.COM	Page 21

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

Outstanding Debt Details

Mortgage Debt

The following table contains summary information concerning the mortgage debt of the Company as of March 31, 2026 (dollars in thousands):

Operating Properties	Term (months)		Outstanding<br>Principal				Interest Rate (1)	Maturity Date
Residences at West Place		120	$	33,817			4.24%	10/1/2028
Arbors of Brentwood		84		39,977			4.74%	10/1/2031
Avant at Pembroke Pines		84		248,185			4.74%	10/1/2031
Bella Vista		84		37,400			4.74%	10/1/2031
Brandywine I & II		84		59,526			4.74%	10/1/2031
Cornerstone		84		45,815			4.74%	10/1/2031
Estates on Maryland		84		37,345			4.74%	10/1/2031
High House at Cary		84		32,478			4.74%	10/1/2031
Residences at Glenview Reserve		84		33,271			4.74%	10/1/2031
Sabal Palm at Lake Buena Vista		84		56,220			4.74%	10/1/2031
Six Forks Station		84		30,430			4.74%	10/1/2031
Summers Landing		84		14,135			4.74%	10/1/2031
The Adair		84		33,229			4.74%	10/1/2031
The Enclave		84		33,440			4.74%	10/1/2031
The Heritage		84		29,810			4.74%	10/1/2031
The Venue on Camelback		84		36,465			4.74%	10/1/2031
The Verandas at Lake Norman		84		30,113			4.74%	10/1/2031
Versailles II		84		15,706			4.74%	10/1/2031
Arbors on Forest Ridge		84		17,307			4.74%	12/1/2031
Atera Apartments		84		38,555			4.74%	12/1/2031
Bella Solara		84		37,772			4.74%	12/1/2031
Bloom		84		60,848			4.74%	12/1/2031
Courtney Cove		84		31,596			4.74%	12/1/2031
Creekside at Matthews		84		28,703			4.74%	12/1/2031
Cutter's Point		84		18,994			4.74%	12/1/2031
Fairways at San Marcos		84		55,056			4.74%	12/1/2031
Madera Point		84		29,676			4.74%	12/1/2031
Parc500		84		30,012			4.74%	12/1/2031
Rockledge Apartments		84		78,444			4.74%	12/1/2031
Seasons 704 Apartments		84		33,960			4.74%	12/1/2031
The Preserve at Terrell Mill		84		74,341			4.74%	12/1/2031
The Summit at Sabal Park		84		26,735			4.74%	12/1/2031
Torreyana Apartments		84		43,153			4.74%	12/1/2031
Venue at 8651		84		24,620			4.74%	12/1/2031
Versailles		84		26,108			4.74%	12/1/2031
Sedona at Lone Mountain		84		40,287			4.88%	2/1/2033
			$	1,543,529
Fair market value adjustment				265		(2)
Deferred financing costs, net of accumulated amortization of 8,472				(33,393	)
			$	1,510,401

All values are in US Dollars.

• Interest rate is based on a reference rate plus an applicable margin, except for fixed rate mortgage debt. The reference rates used in our portfolio is 30-Day Average Secured Overnight Financing Rate (“SOFR”). As of March 31, 2026, SOFR was 3.65%.
• The Company reflected a valuation adjustment on its fixed rate debt for Residences at West Place to adjust it to fair market value on its respective date of acquisition for the difference between the fair value and the assumed principal amount of debt. The difference is amortized into interest expense over the remaining terms of the mortgages.

NXRT.NEXPOINT.COM	Page 22

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

Interest Rate Swap Agreements

As of March 31, 2026, the Company had the following outstanding interest rate swaps that were designated as cash flow hedges of interest rate risk (dollars in thousands):

Effective Date	Termination Date	Counterparty	Notional Amount		Fixed Rate (1)
September 1, 2019	September 1, 2026	KeyBank	$	100,000		1.462	%
September 1, 2019	September 1, 2026	KeyBank		125,000		1.302	%
January 3, 2020	September 1, 2026	KeyBank		92,500		1.609	%
March 4, 2020	June 1, 2026	Truist		100,000		0.820	%
June 1, 2021	September 1, 2026	KeyBank		200,000		0.845	%
June 1, 2021	September 1, 2026	KeyBank		200,000		0.953	%
April 3, 2025	April 1, 2030	JPM		100,000		3.489	%
			$	917,500		1.361	%	(2)

• The floating rate option for the interest rate swaps is SOFR plus 0.11448% ("Adjusted SOFR") other than for the JPM swap, which is based on SOFR. As of March 31, 2026, Adjusted SOFR and SOFR were 3.77% and 3.65%, respectively.
• Represents the weighted average fixed rate of the interest rate swaps.

The following table contains summary information regarding our forward interest rate swap (dollars in thousands):

Effective Date	Termination Date	Counterparty	Notional Amount		Fixed Rate (1)
September 1, 2026	January 1, 2027	KeyBank	$	92,500		1.798	%

• The floating rate option for the interest rate swaps is Adjusted SOFR. As of March 31, 2026, Adjusted SOFR was 3.77%.

NXRT.NEXPOINT.COM	Page 23

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

Interest Rate Cap Agreements

As of March 31, 2026, the Company had the following interest rate caps outstanding that were not designated as cash flow hedges of interest rate risk (dollars in thousands):

Properties	Type	Maturity Date	Notional		Strike Rate
Avant at Pembroke Pines	Floating	10/1/2027	$	248,185	8.16%
Brandywine I & II	Floating	10/1/2027		59,526	8.16%
Sabal Palm at Lake Buena Vista	Floating	10/1/2027		56,220	8.41%
Cornerstone	Floating	10/1/2027		45,815	8.66%
Arbors of Brentwood	Floating	10/1/2027		39,977	8.16%
Bella Vista	Floating	10/1/2027		37,400	8.91%
Estates on Maryland	Floating	10/1/2027		37,345	8.91%
The Venue on Camelback	Floating	10/1/2027		36,465	8.16%
The Enclave	Floating	10/1/2027		33,440	8.66%
Residences at Glenview Reserve	Floating	10/1/2027		33,271	8.16%
The Adair	Floating	10/1/2027		33,229	8.16%
High House at Cary	Floating	10/1/2027		32,478	8.16%
Six Forks Station	Floating	10/1/2027		30,430	8.16%
The Verandas at Lake Norman	Floating	10/1/2027		30,113	8.16%
The Heritage	Floating	10/1/2027		29,810	8.91%
Versailles II	Floating	10/1/2027		15,706	8.16%
Summers Landing	Floating	10/1/2027		14,135	8.66%
Rockledge Apartments	Floating	12/1/2027		78,444	7.66%
The Preserve at Terrell Mill	Floating	12/1/2027		74,341	7.66%
Bloom	Floating	12/1/2027		60,848	7.66%
Fairways at San Marcos	Floating	12/1/2027		55,056	7.66%
Torreyana Apartments	Floating	12/1/2027		43,153	7.66%
Atera Apartments	Floating	12/1/2027		38,555	7.66%
Bella Solara	Floating	12/1/2027		37,772	7.66%
Seasons 704 Apartments	Floating	12/1/2027		33,960	7.66%
Courtney Cove	Floating	12/1/2027		31,596	7.66%
Parc500	Floating	12/1/2027		30,012	7.66%
Madera Point	Floating	12/1/2027		29,676	7.66%
Creekside at Matthews	Floating	12/1/2027		28,703	7.66%
The Summit at Sabal Park	Floating	12/1/2027		26,735	7.66%
Versailles	Floating	12/1/2027		26,108	7.66%
Venue at 8651	Floating	12/1/2027		24,620	7.66%
Cutter's Point	Floating	12/1/2027		18,994	7.66%
Arbors on Forest Ridge	Floating	12/1/2027		17,307	7.66%
Sedona at Lone Mountain	Floating	2/1/2029		40,287	7.17%
			$	1,509,712	8.01%

Debt Maturity Schedule

The following table summarizes our contractual obligations and commitments as of March 31, 2026 for the next five calendar years subsequent to March 31, 2026 and thereafter. We used the applicable reference rate as of March 31, 2026 to calculate interest expense due by period on our floating rate debt and net interest expense due by period on our interest rate swaps.

		Payments Due by Period (in thousands)
		Total		2026		2027		2028		2029		2030		Thereafter
Operating Properties Mortgage Debt
Principal payments		$	1,543,529	$	—	$	—	$	33,817	$	—	$	—	$	1,509,712
Interest expense	(1)		396,190		46,534		72,235		70,222		70,124		72,705		64,370
Total		$	1,939,719	$	46,534	$	72,235	$	104,039	$	70,124	$	72,705	$	1,574,082
Credit Facility
Principal payments		$	57,000	$	—	$	—	$	57,000	$	—	$	—	$	—
Interest expense			7,208		2,462		3,192		1,554		—		—		—
Total		$	64,208	$	2,462	$	3,192	$	58,554	$	—	$	—	$	—
Total contractual obligations and commitments		$	2,003,927	$	48,996	$	75,427	$	162,593	$	70,124	$	72,705	$	1,574,082
NXRT.NEXPOINT.COM	Page 24
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NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

• Interest expense obligations includes the impact of expected settlements on interest rate swaps which have been entered into in order to fix the interest rate on the hedged portion of our floating rate debt obligations. As of March 31, 2026, we had entered into 7 interest rate swap transactions with a combined notional amount of $0.9 billion and one forward rate swap agreement with a notional amount of approximately $0.1 billion. We have allocated the total impact of expected settlements on the $1.0 billion notional amount of interest rate swaps to ‘Operating Properties Mortgage Debt.’ We used the applicable reference rate as of March 31, 2026 to determine our expected settlements through the terms of the interest rate swaps.

• As of March 31, 2026, we had total indebtedness of $1.6 billion at an adjusted weighted average interest rate of 3.30%, of which $1.6 billion was debt with a floating interest rate. The interest rate swap agreements we have entered into effectively fix the interest rate on $0.9 billion, or 60.8%, of our $1.5 billion of floating rate mortgage debt outstanding. For purposes of calculating the adjusted weighted average interest rate of the total indebtedness, we have included the weighted average fixed rate of 1.36% for Adjusted SOFR on the $0.9 billion notional amount of interest rate swap agreements that we have entered into as of March 31, 2026, which effectively fix the interest rate on $0.9 billion of our floating rate mortgage debt outstanding.

NXRT.NEXPOINT.COM	Page 25

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

Historical Acquisition Details

(in thousands, except for unit and per unit amounts)
Property Name (1)	Location	Units		Transaction Date	Purchase Price		Rehab Budget (2)		Total Investment		Per Unit
Arbors on Forest Ridge	Bedford, TX		210	1/31/2014	$	12,805	$	1,880	$	14,685	$	69,929
Cutter's Point	Richardson, TX		196	1/31/2014		15,845		1,880		17,725		90,432
The Summit at Sabal Park	Tampa, FL		252	8/20/2014		19,050		1,867		20,917		83,005
Courtney Cove	Tampa, FL		324	8/20/2014		18,950		1,819		20,769		64,101
Sabal Palm at Lake Buena Vista	Orlando, FL		400	11/5/2014		49,500		11,347		60,847		152,117
Cornerstone	Orlando, FL		430	1/15/2015		31,550		2,802		34,352		79,889
The Preserve at Terrell Mill	Marietta, GA		752	2/6/2015		58,000		16,313		74,313		98,821
Versailles	Dallas, TX		388	2/26/2015		26,165		4,674		30,839		79,481
Seasons 704 Apartments	West Palm Beach, FL		222	4/15/2015		21,000		2,026		23,026		103,720
Madera Point	Mesa, AZ		256	8/5/2015		22,525		1,932		24,457		95,534
Venue at 8651	Fort Worth, TX		333	10/30/2015		19,250		4,592		23,842		71,598
Parc500	West Palm Beach, FL		217	7/27/2016		22,421		5,113		27,534		126,886
The Venue on Camelback	Phoenix, AZ		415	10/11/2016		44,600		6,202		50,802		122,415
Rockledge Apartments	Marietta, GA		708	6/30/2017		113,500		20,490		133,990		189,251
Atera Apartments	Dallas, TX		380	10/25/2017		59,200		3,737		62,937		165,624
Versailles II	Dallas, TX		242	9/26/2018		24,680		3,376		28,056		115,934
Brandywine I & II	Nashville, TN		632	9/26/2018		79,800		7,310		87,110		137,832
Bella Vista	Phoenix, AZ		248	1/28/2019		48,400		3,404		51,804		208,889
The Enclave	Tempe, AZ		204	1/28/2019		41,800		2,613		44,413		217,710
The Heritage	Phoenix, AZ		204	1/28/2019		41,900		2,660		44,560		218,430
Summers Landing	Fort Worth, TX		196	6/7/2019		19,396		2,997		22,393		114,251
Residences at Glenview Reserve	Nashville, TN		360	7/17/2019		45,000		6,079		51,079		141,885
Residences at West Place	Orlando, FL		342	7/17/2019		55,000		4,505		59,505		173,992
Avant at Pembroke Pines	Pembroke Pines, FL		1,520	8/30/2019		322,000		37,743		359,743		236,673
Arbors of Brentwood	Nashville, TN		346	9/10/2019		62,250		4,248		66,498		192,192
Torreyana Apartments	Las Vegas, NV		316	11/22/2019		68,000		2,771		70,771		223,960
Bloom	Las Vegas, NV		528	11/22/2019		106,500		4,786		111,286		210,770
Bella Solara	Las Vegas, NV		320	11/22/2019		66,500		3,642		70,142		219,195
Fairways at San Marcos	Chandler, AZ		352	11/2/2020		84,480		4,366		88,846		252,403
The Verandas at Lake Norman	Charlotte, NC		264	6/30/2021		63,500		4,812		68,312		258,759
Creekside at Matthews	Charlotte, NC		240	6/30/2021		58,000		4,128		62,128		258,865
Six Forks Station	Raleigh, NC		323	9/10/2021		74,760		6,431		81,191		251,366
Hudson High House	Cary, NC		302	12/7/2021		93,250		5,247		98,497		326,148
The Adair	Sandy Springs, GA		232	4/1/2022		65,500		5,390		70,890		305,562
Estates on Maryland	Phoenix, AZ		330	4/1/2022		77,900		4,636		82,536		250,109
Sedona at Lone Mountain	Las Vegas, NV		321	12/11/2025		73,250		7,230		80,480		250,716
Total/Weighted Average			13,305		$	2,106,227	$	215,049	$	2,321,276	$	174,466

• Only includes properties owned as of March 31, 2026.
• Includes interior and exterior rehab.

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NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

Historical Disposition Details

(in thousands, except unit and per unit amounts)
Property Name	Location	Units		Purchase<br>Price		Sale<br>Price		Sales Price Per Unit		Sale Date	Net Cash<br>Proceeds (1)		Gain on<br>Sale
Meridian	Austin, TX		200	$	12,300	$	17,250	$	86,250	5/10/2016	$	16,981	$	4,786
Park at Regency and Mandarin Reserve	Jacksonville, FL		679		34,500		47,000		69,219	6/6/2016		46,239		11,584
Park at Blanding and Colonial Forest	Jacksonville, FL		291		12,000		14,500		49,828	8/31/2016		14,259		2,007
Willowdale Crossings	Frederick, MD		432		41,000		45,200		104,630	9/15/2016		44,439		5,576
Jade Park	Dayton Beach, FL		144		7,800		10,000		69,444	9/30/2016		9,868		1,979
The Miramar Apartments	Dallas, TX		314		8,875		16,550		52,707	4/3/2017		16,326		6,368
Toscana	Dallas, TX		192		8,875		13,250		69,010	4/3/2017		13,040		4,283
The Grove at Alban	Frederick, MD		290		23,050		27,500		94,828	4/3/2017		27,021		4,514
Twelve 6 Ten at the Park	Dallas, TX		402		20,984		26,600		66,169	4/27/2017		26,349		4,731
Regatta Bay	Seabrook, TX		240		18,200		28,200		117,500	7/14/2017		27,670		10,423
NAVA Portfolio (2)	Atlanta, GA		1,100		66,200		116,000		105,455	9/27/2017		114,010		48,046
Timberglen	Dallas, TX		304		16,950		30,000		98,684	1/31/2018		29,553		13,742
Edgewater at Sandy Springs	Atlanta, GA		760		58,000		101,250		133,224	8/28/2019		100,219		47,329
Belmont at Duck Creek	Garland, TX		240		18,525		29,500		122,917	8/28/2019		29,148		11,985
The Ashlar	Dallas, TX		264		16,235		29,400		111,364	8/28/2019		29,050		13,205
Heatherstone	Dallas, TX		152		9,450		16,275		107,072	8/28/2019		16,054		6,368
The Pointe at the Foothills	Mesa, AZ		528		52,275		85,400		161,742	8/28/2019		84,663		37,925
Abbington Heights	Antioch, TN		274		17,900		28,050		102,372	8/30/2019		27,630		10,888
Southpoint Reserve at Stoney Creek	Fredericksburg, VA		156		17,000		23,500		150,641	3/20/2020		23,176		5,469
Willow Grove	Nashville, TN		244		13,750		31,300		128,279	3/26/2020		31,005		17,513
Woodbridge	Nashville, TN		220		16,000		31,700		144,091	3/26/2020		31,237		15,990
Eagle Crest	Irving, TX		447		27,325		55,500		124,161	9/30/2020		54,779		30,160
Beechwood Terrace	Antioch, TN		300		21,400		53,600		178,667	11/1/2021		53,003		33,960
Cedar Pointe	Antioch, TN		210		26,500		37,650		179,286	11/1/2021		37,231		12,252
Hollister Place	Houston, TX		260		24,500		36,750		141,346	12/29/2022		36,455		14,684
Silverbrook	Grand Prairie, TX		642		30,400		70,000		109,034	9/22/2023		69,431		43,107
Timber Creek	Charlotte, NC		352		22,750		49,000		139,205	12/13/2023		48,348		24,819
Old Farm	Houston, TX		734		84,721		103,000		140,327	3/1/2024		102,704		31,548
Radbourne Lake	Charlotte, NC		225		24,250		39,250		174,444	4/30/2024		38,904		18,847
Stone Creek at Old Farm	Houston, TX		190		23,332		24,500		128,947	10/1/2024		24,095		3,851
Total/Weighted Average			10,786	$	775,047	$	1,237,675	$	114,748		$	1,222,887	$	497,939

• Represents sales price, net of closing costs.
• The NAVA Portfolio consists of The Arbors, The Crossings, The Crossings at Holcomb Bridge and The Knolls.

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NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

Definitions and Reconciliations of Non-GAAP Measures

Definitions

This presentation contains non-GAAP financial measures. A “non-GAAP financial measure” is defined as a numerical measure of a company’s financial performance that excludes or includes amounts so as to be different than the most directly comparable measure calculated and presented in accordance with GAAP in the statements of income (loss), balance sheets or statements of cash flows of the Company. The non-GAAP financial measures used within this presentation are net operating income (“NOI”), funds from operations attributable to common stockholders (“FFO”), FFO per diluted share, Core FFO, Core FFO per diluted share, adjusted FFO (“AFFO”), AFFO per diluted share and net debt.

NOI is used by investors and our management to evaluate and compare the performance of our properties to other comparable properties, to determine trends in earnings and to compute the fair value of our properties. NOI is calculated by adjusting net income (loss) to add back (1) interest expense (2) advisory and administrative fees, (3) depreciation and amortization expenses, (4) gains or losses from the sale of operating real estate assets that are included in net income (loss) computed in accordance with GAAP, (5) corporate income and corporate general and administrative expenses that are not reflective of operations of the properties, (6) other gains and losses that are specific to us including loss on extinguishment of debt and modification costs, (7) casualty-related expenses/(recoveries) and casualty loss, (8) property general and administrative expenses that are not reflective of the continuing operations of the properties or are incurred on behalf of the Company at the property for expenses such as legal, professional, centralized leasing service and franchise tax fees and (9) equity in earnings of affiliate. We define “Same Store NOI” as NOI for our properties that are comparable between periods. We view Same Store NOI as an important measure of the operating performance of our properties because it allows us to compare operating results of properties owned for the entirety of the current and comparable periods and therefore eliminates variations caused by acquisitions or dispositions during the periods.

FFO is defined by the National Association of Real Estate Investment Trusts (“NAREIT”), as net income (loss) computed in accordance with GAAP, excluding gains or losses from real estate dispositions, plus real estate depreciation and amortization. We compute FFO in accordance with NAREIT’s definition. Our presentation differs slightly in that we begin with net income (loss) before adjusting for amounts attributable to redeemable noncontrolling interests in the OP and we show the combined amounts attributable to such noncontrolling interests as an adjustment to arrive at FFO attributable to common stockholders.

Core FFO makes certain adjustments to FFO, which are not representative of the ongoing operating performance of our Portfolio. Core FFO adjusts FFO to remove items such as loss on extinguishment of debt and modification costs, casualty-related expenses/(recoveries) and loss (gain), the amortization of deferred financing costs, mark-to-market gains or losses related to interest rate cap agreements not designated as hedges for accounting purposes, and the noncontrolling interests (as described above) related to these items. Starting in the third quarter of 2024, the Company adjusted Core FFO to remove (1) the amortization of all deferred financing costs instead of those solely related to short-term debt financing and (2) mark-to-market gains or losses related to interest rate cap agreements not designated as hedges for accounting purposes. Prior periods have been recast to conform to current presentations.

AFFO makes certain adjustments to Core FFO in order to arrive at a more refined measure of the operating performance of our portfolio. There is no industry standard definition of AFFO and practice is divergent across the industry. AFFO adjusts Core FFO to remove items such as equity-based compensation expense and the related noncontrolling interests (as described above) related to this item.

Net debt is calculated by subtracting cash and cash equivalents and restricted cash held for value-add upgrades and green improvements from total debt outstanding.

We believe that the use of NOI, FFO, Core FFO, AFFO and net debt, combined with the required GAAP presentations, improves the understanding of operating results and debt levels of REITs among investors and makes comparisons of operating results and debt levels among such companies more meaningful. While NOI, FFO, Core FFO, AFFO and net debt are relevant and widely used measures of operating performance and debt levels of REITs, they do not represent cash flows from operations, net income (loss) or total debt as defined by GAAP and should not be considered an alternative or substitute to those measures in evaluating our liquidity, operating performance and debt levels. NOI, FFO, Core FFO and AFFO do not purport to be indicative of cash available to fund our future cash requirements. We present net debt because we believe it provides our investors a better understanding of our leverage ratio. Net debt should not be considered an alternative or substitute to total debt, as we may not always be able to use our available cash to repay debt. Our computation of NOI, FFO, Core FFO, AFFO and net debt may not be comparable to NOI, FFO, Core FFO, AFFO and net debt reported by other REITs. For a more complete discussion of NOI, FFO, Core FFO and AFFO, see our most recent Annual Report on Form 10-K and our other filings with the SEC.

NXRT.NEXPOINT.COM	Page 28

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

Reconciliations

Reconciliation of Debt to Net Debt

(dollar amounts in thousands)	Q1 2026			Q1 2025
Total mortgage debt	$	1,543,529		$	1,503,242
Total credit facility		57,000			—
Total Debt	$	1,600,529		$	1,503,242
Adjustments to arrive at net debt:
Cash and cash equivalents		(18,465	)		(23,719	)
Restricted cash held for value-add upgrades and green improvements		(7,401	)		(3,170	)
Net Debt	$	1,574,663		$	1,476,353
Enterprise Value (1)	$	2,211,663		$	2,487,353
Leverage Ratio (Total Debt to Market Capitalization plus Total Debt)		72	%		60	%
Leverage Ratio (Net Debt to Enterprise Value)		71	%		59	%

• Enterprise Value is calculated as Market Capitalization as of the end of the period plus Net Debt.

Guidance Reconciliations of NOI, Same Store NOI, FFO, Core FFO and AFFO

The following table, which has not been adjusted for the effects of noncontrolling interests, reconciles our 2026 NOI guidance to our net loss (the most directly comparable GAAP financial measure) guidance for the year ended December 31, 2026 and for the three months ended June 30, 2026 (in thousands):

		For the Year Ended<br>December 31, 2026			For the Three Months Ended June 30, 2026
		Mid-Point (1)			Mid-Point (1)
Net loss		$	(36,114	)	$	(10,677	)
Adjustments to reconcile net loss to NOI:
Advisory and administrative fees			7,169			1,786
Corporate general and administrative expenses			19,112			4,886
Corporate income			(1,757	)		(417	)
Property general and administrative expenses	(2)		4,161			1,048
Depreciation and amortization			95,675			25,648
Interest expense			67,099			15,704
Casualty-related expenses/(recoveries)			—			584
Equity in earnings of affiliate			(310	)		(77	)
NOI	(3)	$	155,035		$	38,485
Less Non-Same Store
Revenues	(3)		(6,387	)
Operating expenses	(3)		2,212
Same Store NOI	(3)	$	150,860

• Mid-Point estimates shown for full year and second quarter 2026 guidance. Assumptions made for full year and second quarter 2026 NOI guidance include the Same Store operating growth projections included in the “2026 Full Year Guidance Summary” section of this release and the effect of the acquisition and dispositions throughout the fiscal year.
• Adjustment to net loss to exclude certain property general and administrative expenses that are not reflective of the continuing operations of the properties or are incurred on our behalf at the property for expenses such as legal, professional, centralized leasing service and franchise tax fees.
• Year-over-year growth for the Full Year 2026 pro forma Same Store pool (35 properties).

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NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

The following table reconciles our FFO, Core FFO and AFFO guidance to our net loss (the most directly comparable GAAP financial measure) guidance for the year ended December 31, 2026 (in thousands, except per share data):

	For the Year Ended December 31, 2026
	Mid-Point
Net loss	$	(36,114	)
Depreciation and amortization		95,675
Adjustment for noncontrolling interests		(235	)
FFO attributable to common stockholders		59,326
FFO per share - diluted (1)	$	2.31
Amortization of deferred financing costs		6,654
Casualty-related expenses		—
Mark-to-market adjustments of interest rate caps		16
Adjustment for noncontrolling interests		(26	)
Core FFO attributable to common stockholders		65,970
Core FFO per share - diluted (1)	$	2.57
Equity-based compensation expense		11,053
Adjustment for noncontrolling interests		(44	)
AFFO attributable to common stockholders		76,979
AFFO per share - diluted (1)	$	2.99
Weighted average common shares outstanding - diluted		25,719

• For purposes of calculating per share data, we assume a weighted average diluted share count of approximately 25.7 million for the full year 2026.

The following table reconciles our NOI to our net income (loss) for the years ended December 31, 2025 and 2024 and the three months ended December 31, 2025 (in thousands):

		For the Year Ended December 31,						For the Three Months Ended December 31,
		2025			2024			2025
Net income (loss)		$	(32,154	)	$	1,114		$	(10,348	)
Adjustments to reconcile net income (loss) to NOI:
Advisory and administrative fees			6,941			6,899			1,765
Corporate general and administrative expenses			17,945			19,399			4,150
Corporate income			(1,666	)		(2,215	)		(462	)
Casualty-related expenses/(recoveries)	(1)		264			1,389			1,700
Casualty losses			167			626			4
Property general and administrative expenses	(2)		4,010			3,998			1,096
Depreciation and amortization			95,752			97,762			23,560
Interest expense			60,735			58,477			15,733
Equity in earnings of affiliate			(257	)		(172	)		(74	)
Loss on extinguishment of debt and modification costs			—			24,004			—
Gain on sales of real estate			—			(54,246	)		—
NOI		$	151,737		$	157,035		$	37,124
NXRT.NEXPOINT.COM	Page 30
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NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

The following table reconciles our NOI to our FFO, Core FFO and AFFO to net income (loss), the most directly comparable GAAP financial measure, for the years ended December 31, 2025 and 2024 (in thousands):

		For the Year Ended December 31,
		2025			2024			% Change 2025 - 2024
Net income (loss)		$	(32,154	)	$	1,114		N/M
Depreciation and amortization			95,752			97,762			-2.1	%
Gain on sales of real estate			—			(54,246	)	N/M
Adjustment for noncontrolling interests			(251	)		(176	)		42.6	%
FFO attributable to common stockholders			63,347			44,454			42.5	%
FFO per share - basic		$	2.49		$	1.74			43.4	%
FFO per share - diluted		$	2.48		$	1.69			46.4	%
Loss on extinguishment of debt and modification costs			—			24,004		N/M
Casualty-related expenses			264			1,389		N/M
Casualty losses			167			626		N/M
Amortization of deferred financing costs			6,585			3,364		N/M
Mark-to-market adjustments of interest rate caps			961			(593	)	N/M
Adjustment for noncontrolling interests			(31	)		(114	)	N/M
Core FFO attributable to common stockholders			71,293			73,130			-2.5	%
Core FFO per share - basic		$	2.81		$	2.87			-2.0	%
Core FFO per share - diluted		$	2.79		$	2.79			0.1	%
Equity-based compensation expense			9,883			10,543			-6.3	%
Adjustment for noncontrolling interests			(39	)		(42	)		-7.1	%
AFFO attributable to common stockholders			81,137			83,631			-3.0	%
AFFO per share - basic		$	3.20		$	3.28			-2.5	%
AFFO per share - diluted		$	3.18		$	3.19			-0.4	%
Weighted average common shares outstanding - basic			25,390			25,516			-0.5	%
Weighted average common shares outstanding - diluted	(1)		25,554			26,246			-2.6	%
Dividends declared per common share		$	2.06		$	1.90			8.6	%
Net income (loss) Coverage - diluted	(2)	-0.61x			0.02x			N/M
FFO Coverage - diluted	(2)	1.20x			0.89x				34.8	%
Core FFO Coverage - diluted	(2)	1.35x			1.47x				-7.8	%
AFFO Coverage - diluted	(2)	1.54x			1.68x				-8.2	%

• The Company uses the diluted weighted average common shares outstanding when in a dilutive position for FFO, Core FFO and AFFO.
• Indicates coverage ratio of net income (loss)/FFO/Core FFO/AFFO per common share (diluted) over dividends declared per common share during the period.

NXRT.NEXPOINT.COM	Page 31