NexPoint Real Estate Finance, Inc.

ther Information

As previously disclosed, on January 16, 2026, the OP loaned $16.7 million to NexPoint Storage Partners Operating Company, LLC (“NSP OC”), a subsidiary of NSP. In connection with the loan, NSP OC issued a promissory note (as amended, the “NSP Note”) pursuant to which NSP OC may borrow up to an aggregate principal amount of $40.0 million, with $16.7 million outstanding as of March 26, 2026. The NSP Note bears interest at 14% per annum, which is payable in kind, is interest only during the term of the NSP Note and matures on January 16, 2031. Borrowings under the NSP Note are secured by a first priority lien on certain income streams and the related deposit accounts of NSP OC and its subsidiaries and certain subsidiaries of our Sponsor.

OSL previously agreed to purchase $5.0 million in principal amount of the NSP Note at par plus accrued interest prior to the end of the second quarter of 2026. On March 25, 2025, the OP and OSL entered into a participation agreement, pursuant to which OSL purchased $7.5 million principal amount of the NSP Note and OSL has the right, but not the obligation, to participate in any future advance under the NSP Note up to its then-current pro rata share. Further, the NSP Note was amended on March 25, 2026 to add the NSP OC subsidiaries and subsidiaries of our Sponsor that pledged certain income streams and the related deposit accounts as collateral under the NSP Note as co-borrowers under the NSP Note.