NexPoint Residential Trust (NYSE: NXRT) 2025 results, Las Vegas buy and 2026 outlook

Rhea-AI Filing Summary

NexPoint Residential Trust reported softer 2025 operating results alongside continued portfolio investment. Total revenues were $251.3M, down from $259.7M in 2024, and net loss attributable to common stockholders was $32.0M versus net income of $1.1M, mainly due to lower gains on property sales and reduced rental income. NOI declined to $151.7M from $157.0M. However, FFO rose to $63.3M, or $2.48 per diluted share, from $44.5M ($1.69 per share), while Core FFO was essentially flat at $71.3M ($2.79 per share) versus $73.1M ($2.79 per share). AFFO edged down to $81.1M ($3.18 per share) from $83.6M ($3.19 per share). The company owned 36 properties totaling 13,305 units at year-end, with occupancy of 92.7% and average effective monthly rent of $1,492. NXRT acquired the 321‑unit Sedona at Lone Mountain in Las Vegas for $73.25M, financed it with a $40.3M mortgage in early 2026, and repurchased 223,109 shares at an average $34.29. The 2025 dividend was increased to $2.06 per share, including a Q4 dividend of $0.53. For 2026, management guides to a diluted EPS loss between $(1.54) and $(1.26), Core FFO per share of $2.42–$2.71, Same Store NOI growth between -2.5% and 1.5%, and potential acquisitions and dispositions each ranging from $0 to $200M.

Insights

REIT and earnings analyst

Results show modest operational pressure but largely stable cash earnings.

NexPoint Residential Trust’s 2025 numbers mix weaker GAAP results with relatively steady cash flow metrics. Revenue declined from $259.7M to $251.3M, and NOI slipped from $157.0M to $151.7M, reflecting softer Same Store performance and slightly lower occupancy.

The move from $1.1M net income to a $32.0M net loss is driven mainly by the absence of 2024’s large real estate sale gains and reduced rental income, rather than a collapse in operations. Core FFO per diluted share held at $2.79, and AFFO per share eased only marginally to $3.18.

Strategically, NXRT added the $73.25M Sedona at Lone Mountain asset, executed interior and amenity upgrades with reported double‑digit ROIs, and raised the annual dividend to $2.06 while buying back 223,109 shares. Leverage remains elevated, with a 68% total debt-to-capital ratio and $1.6B of largely floating-rate debt partially hedged via swaps and caps. 2026 guidance—Core FFO per share of $2.42–$2.71 and Same Store NOI ranging from -2.5% to 1.5%—signals management’s expectation of a flattish to mildly pressured operating environment, with actual outcomes depending on rent growth, occupancy, and execution of planned acquisitions, dispositions, and value‑add projects.

false000162039300016203932026-02-242026-02-24

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): February 24, 2026

NEXPOINT RESIDENTIAL TRUST, INC.

(Exact Name Of Registrant As Specified In Charter)

Maryland		001-36663		47-1881359
(State or Other Jurisdiction of Incorporation)		(Commission File Number)		(IRS Employer 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 (see General Instruction A.2. below):

☐	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 Symbol(s)		Name of each exchange 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 February 24, 2026, NexPoint Residential Trust, Inc. (the “Company”) announced financial results for the Company’s fourth quarter ended December 31, 2025. 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 Number		Exhibit Description
99.1		Press Release dated February 24, 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 Title: Chief Financial Officer, Executive VP-Finance, Treasurer and Assistant Secretary

Date: February 24, 2026

Exhibit 99.1

24 February 2026 | NYSE: NXRT

EARNINGS SUPPLEMENT: FOURTH QUARTER & FULL YEAR 2025

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 Fourth Quarter and FY 2025 Activity		5
Financial Summary		7
2026 Full Year Guidance Summary		8
Components of Net Asset Value		9
Consolidated Balance Sheets		10
Consolidated Statements of Operations		11
NOI and Same Store NOI		12
2024-2025 Same Store Results		13
2024-2025 Same Store Properties Operating Metrics		15
QoQ Same Store Properties Operating Metrics		16
Q4 Same Store Results		17
FFO, Core FFO and AFFO		19
Historical Capital Expenditures		20
Value-Add Program Details		21
Outstanding Debt Details		24
Debt Maturity Schedule		27
Historical Acquisition Details		28
Historical Disposition Details		29
Definitions and Reconciliations of Non-GAAP Measures		30

Sedona at Lone Mountain: Las Vegas, NV

Expansion in Las Vegas MSA

Prime Operational & Value-Add Opportunity

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

FOR IMMEDIATE RELEASE

Contact:

Investor Relations

Kristen Griffith

IR@nexpoint.com

(214) 276-6300

Media inquiries: Pro-Nexpoint@prosek.com

NEXPOINT RESIDENTIAL TRUST, INC. REPORTS FOURTH QUARTER AND FULL YEAR 2025 RESULTS

NXRT Acquires $73.25 Million Property in Las Vegas, Recaps Value-Add Results and Issues 2026 Full Year Guidance

Dallas, TX, February 24, 2026 – NexPoint Residential Trust, Inc. (NYSE:NXRT) reported financial results for the fourth quarter and year ended December 31, 2025.

Highlights

•NXRT1 reported net loss, FFO2, Core FFO2 and AFFO2 of $32.0M, $63.3M, $71.3M and $81.1M, respectively, attributable to common stockholders for the year ended December 31, 2025, compared to net income, FFO, Core FFO, and AFFO of $1.1M, $44.5M, $73.1M and $83.6M, respectively, attributable to common stockholders for the year ended December 31, 2024.

•For the year ended December 31, 2025, 2024-2025 Same Store properties3 total revenue, NOI2, average effective rent and occupancy decreased 1.0%, 1.6%, 0.1% and 195 bps, respectively, over the prior year period.

•During the year ended December 31, 2025, NXRT acquired Sedona at Lone Mountain, consisting of 321 units, for a purchase price of $73.25 million.

•The weighted average effective monthly rent per unit across all 36 properties held as of December 31, 2025 (the “Portfolio”), consisting of 13,305 units4, was $1,492, while physical occupancy was 92.7%.

•NXRT paid a fourth quarter dividend of $0.53 per share of common stock on December 31, 2025; this cash dividend represented a $0.02 per share, or 3.9% increase, over the prior quarter’s dividend. Since inception, NXRT has increased the dividend per share by 157.3%.

•During 2025, for the properties in the Portfolio, NXRT completed 1,767 full/partial upgrades and washer/dryer installations, achieving an average monthly rent premium of $60 and a 21.8% ROI5.

•Since inception, NXRT has completed installation of 9,866 full and partial upgrades, 4,979 kitchen and laundry appliances and 11,199 technology packages, resulting in $158, $50 and $43 average monthly rental increase per unit and 20.8%, 63.7% and 37.2% ROI, respectively.

•During the year ended 2025, the Company repurchased and subsequently retired 223,109 shares at an average price of $34.29 per share, which is a 29% discount to the midpoint of our Q4’25 NAV. We believe this is an attractive arbitrage opportunity given the persistent private/public market discount.

•On January 30, 2026, the Company entered into a $40.3 million mortgage loan secured by Sedona at Lone Mountain with Newmark. The loan matures on January 30, 2033 with all principal due at maturity and bears interest at a rate based on the 30‑day Average SOFR plus a margin of 1.23%.

•On February 3, 2026, the Company paid down $33.0 million of its outstanding principal balance on its credit facility with JPMorgan Chase Bank, N.A. (“JPM”).

(1)In this release, “we,” “us,” “our,” the “Company,” and “NXRT” each refer to NexPoint Residential Trust, Inc., a Maryland corporation.

(2)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.

(3)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 12,963 units of apartment space in our Same Store pool for the year ended December 31, 2025 (our “2024-2025” Same Store” properties). There are 35 properties encompassing 12,963 units of apartment space in our Q4 Same Store pool for the three months ended December 31, 2025 (our “Q4 Same Store” properties). The same store unit count

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NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

excludes 21 units that are currently down due to fires and repairs (Rockledge: 20 units and Summers Landing: 1 unit) and Sedona at Lone Mountain.

(4)Total number of units owned as of December 31, 2025 is 13,305, however 22 units are currently down (Rockledge: 20 units, Summers Landing: 1 unit, Sedona at Lone Mountain: 1 unit).

(5)We define Return on Investment (“ROI”) as the sum of the actual rent premium divided by the sum of the total cost.

Full Year 2025 Financial Results

•Total revenues were $251.3 million for the full year 2025, compared to $259.7 million for the full year 2024.

•Net loss attributable to common stockholders for the full year 2025 totaled $32.0 million, or loss of $1.26 per diluted share, which included $95.8 million of depreciation and amortization expense. This compared to net income attributable to common stockholders of $1.1 million, or income of $0.04 per diluted share, which included a gain on sales of real estate of $54.2 million and $97.8 million of depreciation and amortization expense for the full year 2024.

•The change in our net loss of $32.2 million for the year ended December 31, 2025 as compared to our net income of $1.1 million for the year ended December 31, 2024 primarily relates to decreases in gain on sales of real estate and rental income of $54.2 million and $8.2 million, respectively, partially offset by a decrease in loss on extinguishment of debt and modification costs of $24.0 million.

•For the full year 2025, NOI was $151.7 million on 36 properties, compared to $157.0 million for the full year 2024 on 35 properties.

•For the full year 2025, 2024-2025 Same Store NOI decreased 1.6% to $151.6 million, compared to $154.1 million for the full year 2024.

•For the full year 2025, FFO totaled $63.3 million, or $2.48 per diluted share, compared to $44.5 million, or $1.69 per diluted share, for the full year 2024. For the full year 2025, Core FFO totaled $71.3 million, or $2.79 per diluted share, compared to $73.1 million, or $2.79 per diluted share, for the full year 2024. For the full year 2025, AFFO totaled $81.1 million, or $3.18 per diluted share, compared to $83.6 million, or $3.19 per diluted share, for the full year 2024.

Fourth Quarter 2025 Financial Results

•Total revenues were $62.1 million for the fourth quarter of 2025, compared to $63.8 million for the fourth quarter of 2024.

•Net loss attributable to common stockholders for the fourth quarter of 2025 totaled $10.3 million, or a loss of $0.41 per diluted share, which included $23.6 million of depreciation and amortization expense and $15.7 million of interest expense. This compared to net loss attributable to common stockholders of $26.9 million, or loss of $1.06 per diluted share, for the fourth quarter of 2024, which included $24.4 million of depreciation and amortization expense and $15.5 million of interest expense.

•The change in our net loss of $10.3 million for the fourth quarter of 2025 as compared to our net loss of $27.0 primarily relates to a decrease in loss on extinguishment of debt and modification costs of $23.2 million.

•For the fourth quarter of 2025, NOI was $37.1 million on 36 properties, compared to $38.9 million for the fourth quarter of 2024 on 35 properties.

•For the fourth quarter of 2025, Q4 Same Store NOI decreased 4.8% to $37.0 million, compared to $38.9 million for the fourth quarter of 2024.

•For the fourth quarter of 2025, FFO totaled $13.2 million, or $0.52 per diluted share, compared to $(6.5) million, or $(0.25) per diluted share, for the fourth quarter of 2024. For the fourth quarter of 2025, Core FFO totaled $16.5 million, or $0.65 per diluted share, compared to $17.7 million, or $0.68 per diluted share, for the fourth quarter of 2024. For the fourth quarter of 2025, AFFO totaled $19.1 million, or $0.75 per diluted share, compared to $20.3 million, or $0.78 per diluted share, for the fourth quarter of 2024.

Fourth Quarter Earnings Conference Call

NXRT will host a call on Tuesday, February 24, 2026, at 11:00 a.m. ET (10:00 a.m. CT), to discuss its full year and fourth quarter 2025 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, March 10, 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

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NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

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.

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, the belief that share repurchases are an attractive arbitrage opportunity given the persistent private/public market discount, 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 first 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.

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NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

NEXPOINT RESIDENTIAL TRUST, INC: FOURTH QUARTER & FULL YEAR 2025 OVERVIEW

Company Profile

(share counts in thousands)
Exchange/Ticker	NYSE; NYSE Texas: NXRT
Share Price (1)	$29.69
Insider Ownership (2)	16.09%
2026 Q1 Dividend Per Share	$0.53
Dividend Yield (1)	7.14%
Shares outstanding - basic (3)	25,390
Shares outstanding - diluted (3)	25,390

(1)As of the close of market trading on February 23, 2026.

(2)As of the close of market trading on December 31, 2025.

(3)Weighted average for the year ended December 31, 2025.

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)

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NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

Highlights of Fourth Quarter and Full Year 2025 Activity

COMPLETED ACQUISITION

Property Name

Location

Date of Acquisition

Purchase Price

# Units

Effective Ownership

Sedona at Lone Mountain

Las Vegas, NV

December 11, 2025

$

73,250

321

100

%

NXRT Q4 2025 NEW LEASES & RENEWALS

Market		New Leases		% Change		Lease Trade-out			Renewals		% Change		Lease Trade-out
Dallas/Fort Worth		167		-7.6%		-$92			273		1.9%		$23
Charlotte		44		-1.5%		-$21			71		2.1%		$28
Nashville		143		-6.5%		-$89			164		2.5%		$30
Atlanta		131		-3.7%		-$60			235		1.5%		$22
Orlando		122		-9.0%		-$140			160		2.1%		$32
Tampa		57		-2.8%		-$39			101		2.8%		$37
South Florida		153		-7.2%		-$158			281		1.8%		$38
Phoenix		229		-10.2%		-$157			265		0.1%		-$3
Las Vegas		109		-0.5%		-$7			189		4.0%		$53
Raleigh		37		-3.6%		-$52			89		1.9%		$27
TOTAL		1,192		-6.4%		-$100			1,828		1.9%		$27

DIVIDEND GROWTH

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NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

FORECASTED SUBMARKET DELIVERIES (1)

Market	Submarket (RealPage)	Property	NXRT Unit Exposure	2025 Q4 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	9,228	964	1,703	631	-	2,334	25.3%
CHA	Matthews/Southeast Charlotte	Creekside at Matthews	240	13,224	475	142	320	-	462	3.5%
DFW	East Fort Worth	The Venue at 8651	333	12,871	-	398	-	-	398	3.1%
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	33,827	526	326	-	-	326	1.0%
DFW	Hurst/Euless/Bedford	Summers Landing	196	33,827	526	326	-	-	326	1.0%
DFW	Oak Lawn/Park Cities	Atera	380	21,370	612	563	212	-	775	3.6%
DFW	Richardson	Cutters Point	196	20,443	223	336	1,048	-	1,384	6.8%
LSV	Northwest Las Vegas	Bella Solara	320	22,641	516	44	19	-	63	0.3%
LSV	Northwest Las Vegas	Bloom	528	22,641	516	44	19	-	63	0.3%
LSV	Southwest Las Vegas	Torreyana	316	22,384	1,173	1,077	645	88	1,810	8.1%
LSV	North Las Vegas	Sedona at Lone Mountain	321	12,261	576	710	257	-	967	7.9%
NASH	East Nashville	Residences at Glenview Reserve	360	15,463	625	191	127	-	318	2.1%
NASH	South Nashville	Arbors of Brentwood	346	18,215	264	104	89	-	193	1.1%
NASH	South Nashville	Brandywine	632	18,215	264	104	89	-	193	1.1%
ORL	East Orlando	The Cornerstone	430	22,629	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	36,551	1,895	1,319	1,210	330	2,859	7.8%
PHX	Chandler	Fairways at San Marcos	352	27,133	899	607	30	-	637	2.3%
PHX	North Central Phoenix	Heritage	204	27,337	350	49	199	-	248	0.9%
PHX	North Central Phoenix	The Venue on Camelback	415	27,337	350	49	199	-	248	0.9%
PHX	Northeast Phoenix	Bella Vista	248	22,762	112	279	619	506	1,404	6.2%
PHX	South Tempe	Enclave	204	16,998	-	171	58	-	229	1.3%
PHX	Southwest Mesa	Madera Point	256	18,361	129	14	233	-	247	1.3%
PHX	West Phoenix	Estates on Maryland	330	15,568	-	57	-	-	57	0.4%
RDU	Far North Raleigh	Six Forks Station	323	13,433	63	555	142	-	697	5.2%
RDU	North Cary/Morrisville	High House at Cary	302	23,526	500	691	302	-	993	4.2%
SFL	Pembroke Pines/Miramar	Avant at Pembroke Pines	1,520	25,713	332	-	-	-	-	0.0%
SFL	West Palm Beach	Parc500	217	33,831	343	1,358	154	-	1,512	4.5%
SFL	West Palm Beach	Seasons 704	222	33,831	343	1,358	154	-	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	598,006	12,112	11,487	8,016	924	20,427	3.4%

(1)Source: 2025 Realpage, Inc.; Data as of February 2026.

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NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

Financial Summary

		FY 2025				FY 2024				FY 2023				Q4 2025				Q4 2024
(in thousands, except for per share and unit data)
Company Profile
Market Capitalization		$	763,000			$	1,061,000			$	884,000
Share Price (as of the last day of the period)		$	30.10			$	41.75			$	34.43
Weighted average common shares outstanding - basic			25,390				25,516				25,654				25,364				25,404
Weighted average common shares outstanding - diluted			25,390				26,246				26,245				25,364				25,404
Earnings Profile
Total revenues		$	251,281			$	259,701			$	277,526			$	62,087			$	63,791
Net income (loss) attributable to common stockholders			(32,027	)			1,110				44,264				(10,307	)			(26,931	)
NOI (1)			151,737				157,035				167,404				37,124				38,948
Same Store NOI (2)			151,591				154,050								37,005				38,884
Same Store NOI Growth (%) (2)			-1.6	%											-4.8	%
Earnings Metrics Per Common Share (diluted basis)
Earnings (loss)		$	(1.26	)		$	0.04			$	1.69			$	(0.41	)		$	(1.06	)
FFO (1)		$	2.48			$	1.69			$	2.72			$	0.52			$	(0.25	)
Core FFO (1)		$	2.79			$	2.79			$	2.92			$	0.65			$	0.68
AFFO (1)		$	3.18			$	3.19			$	3.27			$	0.75			$	0.78
Dividends declared per common share		$	2.06			$	1.90			$	1.72			$	0.53			$	0.51
Net Income (Loss) Coverage (3)		-0.61x				0.02x				0.98x				-0.77x				-2.08x
FFO Coverage (3)		1.20x				0.89x				1.58x				0.98x				-0.50x
Core FFO Coverage (3)		1.35x				1.47x				1.70x				1.23x				1.32x
AFFO Coverage (3)		1.54x				1.68x				1.90x				1.42x				1.52x
Portfolio
Total Properties			36				35				38
Total Units (4)			13,305				12,984				14,133
Occupancy			92.7	%			94.7	%			94.7	%
Average Effective Monthly Rent per Unit		$	1,492			$	1,491			$	1,502
Same Store Portfolio Metrics (2)
Total Same Store Properties			35				35								35				35
Total Same Store Units			12,963				12,948								12,963				12,948
Occupancy			92.7	%			94.7	%							92.7	%			94.7	%
Average Effective Monthly Rent per Unit		$	1,489			$	1,491							$	1,489			$	1,491
Value-Add Program
Completed Rehab Units			1,518				388				2,073				388				58
Cumulative Completed Rehab Units (5)			9,866
Average Increase to Effective Monthly Rent      per Unit (Post-Rehab)		$	158
ROI on Post-Rehab Units			20.8	%
Outstanding Debt Summary
Total Mortgage Debt		$	1,503,242			$	1,503,242			$	1,551,236
Credit Facilities			90,000				—				24,000
Total Debt Outstanding		$	1,593,242			$	1,503,242			$	1,575,236
Leverage Ratio (Total Debt to Market Capitalization plus Total Debt)			68	%			59	%			64	%
Leverage Ratio (Net Debt to Enterprise Value) (6)			67	%			58	%			64	%

(1)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.

(2)We define “Same Store” properties as properties that were in our Portfolio for the entirety of the periods being compared. Full year results are shown for the 2024-2025 Same Store properties; Q4 results are shown for the Q4 Same Store properties. For additional information regarding our Q4 and 2024-2025 Same Store properties, see the “Q4 Same Store Results” and “2024-2025 Same Store Results” section of this release.

(3)Indicates coverage ratio of Net Income (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.

(4)Total units owned is 13,305, however 22 units are currently down due to fires and repairs.

(5)Inclusive of all full and partial interior upgrades completed through December 31, 2025. Cumulative results exclude rehabs completed for properties sold through December 31, 2025.

(6)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 providing initial 2026 guidance ranges for earnings 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
		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

(1)Weighted average diluted share count estimate for full year 2026 is approximately 25.7 million.

(2)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.

(3)Year-over-year growth for the Full Year 2026 assuming Same Store pool of 35 properties.

(4)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
FY 2025 NOI Actual						151,737
		Low						High
Estimated 1Q 2026 NOI Guidance (3)			37,595						38,534
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						13,704
Restricted Cash - Renovation Reserves (4)						7,639
Renovation Expenditures (4)						(7,639	)
Cash Adjustments						0
Fair Market Value of Interest Rate Swaps						13,434
Other Assets						37,748
Value of Assets		$	2,705,400					$	3,079,002
Tangible Liabilities
Credit Facility (5)					$	90,000
Mortgage Debt						1,503,242
Total Outstanding Debt						1,593,242
Forward 12-month Principal Payments						0
Total Outstanding Debt (FY 2026 Est.)						1,593,242
Other Tangible Liabilities (at Book)						28,008
Derivative Liability						475
Value of Liabilities					$	1,621,725
Net Leverage (mid-point)					56%
Net Asset Value		$	1,083,675					$	1,457,277
Shares outstanding - diluted (FY 2026 Est.)						26,156
Est. NAV / Share		$	41.43					$	55.72
NAV / Share (mid-point)					$	48.57

IMPLIED VALUATION METRICS

		Min						Max
Implied Real Estate Value		$	2,640,514					$	3,014,116
No. of Units (December 31, 2025) (2)						13,305
Implied Value/Apartment Unit		$	198.5					$	226.5
Implied Value/Apartment Unit (mid-point)					$	212.5

(1)Management estimates based on independent third-party review of our properties.

(2)Estimated value ranges are presented for the existing portfolio (36 properties at December 31, 2025).

(3)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 $10.8 million and $9.9 million for the first quarter of 2026. FY 2026 NOI Guidance considers a commensurate volume of capital recycling.

(4)Includes approximately $7.6 million that is held for value-add upgrades; reduced by $7.6 million for estimated 2026 rehab expenditures.

(5)Includes outstanding balance as of December 31, 2025.

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)

(Unaudited)

		December 31, 2025				December 31, 2024
ASSETS
Operating Real Estate Investments
Land		$	371,656			$	359,819
Buildings and improvements			1,812,311				1,738,677
Intangible lease assets			1,052				—
Construction in progress			8,535				1,267
Furniture, fixtures, and equipment			224,661				202,029
Total Gross Operating Real Estate Investments			2,418,215				2,301,792
Accumulated depreciation and amortization			(604,321	)			(508,569	)
Total Net Real Estate Investments			1,813,894				1,793,223
Cash and cash equivalents			13,704				23,148
Restricted cash			31,476				30,769
Accounts receivable, net			9,059				12,337
Prepaid and other assets			4,852				6,102
Fair value of interest rate swaps			13,434				41,841
TOTAL ASSETS		$	1,886,419			$	1,907,420
LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities:
Mortgages payable, net		$	1,469,410			$	1,463,650
Credit facility, net			88,102				—
Accounts payable and other accrued liabilities			11,554				11,351
Accrued real estate taxes payable			5,251				4,260
Accrued interest payable			7,053				7,630
Security deposit liability			2,980				2,954
Prepaid rents			1,170				1,425
Fair value of interest rate swaps			475				—
Total Liabilities		$	1,585,995			$	1,491,270
Redeemable noncontrolling interests in the OP			4,928				5,782
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; 25,364,470 and 25,403,537 shares issued and outstanding, respectively			254				254
Additional paid-in capital			406,628				407,429
Accumulated loss less dividends			(123,409	)			(38,030	)
Accumulated other comprehensive income			12,023				40,715
Total Stockholders' Equity			295,496				410,368
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY		$	1,886,419			$	1,907,420

NXRT.NEXPOINT.COM Page 10

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

NEXPOINT RESIDENTIAL TRUST, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

AND COMPREHENSIVE INCOME (LOSS)

(in thousands, except per share amounts)

(Unaudited)

		For the Year Ended December 31,
		2025				2024				2023
Revenues
Rental income		$	243,738			$	251,861			$	270,078
Other income			7,543				7,840				7,448
Total revenues			251,281				259,701				277,526
Expenses
Property operating expenses			53,918				56,583				57,838
Real estate taxes and insurance			32,374				33,062				36,847
Property management fees (1)			7,183				7,484				8,069
Advisory and administrative fees (2)			6,941				6,899				7,645
Corporate general and administrative expenses			17,945				19,399				17,146
Property general and administrative expenses			9,236				9,198				9,543
Depreciation and amortization			95,752				97,762				95,186
Total expenses			223,349				230,387				232,274
Operating income before gain on sales of real estate			27,932				29,314				45,252
Gain on sales of real estate (3)			—				54,246				67,926
Operating income			27,932				83,560				113,178
Interest expense			(60,735	)			(58,477	)			(67,106	)
Loss on extinguishment of debt and modification costs			—				(24,004	)			(2,409	)
Casualty loss			(167	)			(626	)			(856	)
Gain on forfeited deposits			—				—				250
Equity in earnings of affiliate			257				172				205
Miscellaneous income			559				489				1,171
Net income (loss)			(32,154	)			1,114				44,433
Net income (loss) attributable to redeemable noncontrolling interests in the OP			(127	)			4				169
Net income (loss) attributable to common stockholders		$	(32,027	)		$	1,110			$	44,264
Other comprehensive loss
Unrealized losses on interest rate derivatives			(28,805	)			(29,265	)			(32,413	)
Total comprehensive income (loss)			(60,959	)			(28,151	)			12,020
Comprehensive income (loss) attributable to redeemable noncontrolling interests in the OP			(240	)			(111	)			46
Comprehensive income (loss) attributable to common stockholders		$	(60,719	)		$	(28,040	)		$	11,974
Weighted average common shares outstanding - basic			25,390				25,516				25,654
Weighted average common shares outstanding - diluted			25,390				26,246				26,245
Earnings (loss) per share - basic		$	(1.26	)		$	0.04			$	1.73
Earnings (loss) per share - diluted		$	(1.26	)		$	0.04			$	1.69

(1)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").

(2)Fees incurred to the Company’s adviser.

(3)$31.5 million with a related party for the year ended December 31, 2024.

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 for the years ended December 31, 2025, 2024 and 2023, and our 2024-2025 and our Q4 Same Store NOI for the years and three months ended December 31, 2025 and 2024 to net income (loss), the most directly comparable GAAP financial measure (in thousands):

		For the Year Ended December 31,												For the Three Months Ended December 31,
		2025				2024				2023				2025				2024
Net income (loss)		$	(32,154	)		$	1,114				44,433			$	(10,348	)		$	(27,038	)
Adjustments to reconcile net income (loss) to NOI
Advisory and administrative fees			6,941				6,899				7,645				1,765				1,720
Corporate general and administrative expenses			17,945				19,399				17,146				4,150				4,875
Corporate income			(1,666	)			(2,215	)			(483	)			(462	)			(959	)
Casualty-related expenses/(recoveries)	(1)		264				1,389				(2,214	)			1,700				(249	)
Casualty loss			167				626				856				4				88
Gain on forfeited deposits			—				—				(250	)
Property general and administrative expenses	(2)		4,010				3,998				3,701				1,096				1,277
Depreciation and amortization			95,752				97,762				95,186				23,560				24,389
Interest expense			60,735				58,477				67,106				15,733				15,521
Equity in earnings of affiliate			(257	)			(172	)			(205	)			(74	)			(28	)
Loss on extinguishment of debt and modification costs			—				24,004				2,409				—				23,203
Gain on sales of real estate	(3)		—				(54,246	)			(67,926	)			—				(3,851	)
NOI		$	151,737			$	157,035			$	167,404			$	37,124			$	38,948
Less Non-Same Store
Revenues			(250	)			(5,478	)							(243	)			58
Operating expenses			104				2,496								124				(122	)
Operating income			—				(3	)							—				—
Same Store NOI		$	151,591			$	154,050							$	37,005			$	38,884

(1)Adjustment to net income (loss) to exclude certain property operating expenses that are casualty-related expenses/(recoveries).

(2)Adjustment to net income (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.

(3)$31.5 million with a related party for the year ended December 31, 2024.

NXRT.NEXPOINT.COM Page 12

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

2024-2025 Same Store Results of Operations for the Years Ended December 31, 2025 and 2024

There are 35 properties encompassing 12,963 units of apartment space, or approximately 97% of our Portfolio, in our 2024-2025 Same Store properties. Our 2024-2025 Same Store properties exclude the following property in our Portfolio as of December 31, 2025: Sedona at Lone Mountain as well as the 21 units mentioned on page 1 that are currently down.

As of December 31, 2025, our 2024-2025 Same Store properties were approximately 92.7% leased with a weighted average monthly effective rent per occupied apartment unit of $1,489, which was a decrease of 200 bps and $2, respectively.

The following table reflects the revenues, property operating expenses and NOI for the years ended December 31, 2025 and 2024 for our 2024-2025 Same Store and Non-Same Store properties (dollars in thousands):

		For the Year Ended December 31,
		2025				2024				$ Change				% Change
Revenues
Same Store
Rental income		$	243,489			$	246,688			$	(3,199	)			-1.3	%
Other income			5,876				5,320				556				10.5	%
Same Store revenues			249,365				252,008				(2,643	)			-1.0	%
Non-Same Store
Rental income			249				5,173				(4,924	)		N/M
Other income			1				305				(304	)		N/M
Non-Same Store revenues			250				5,478				(5,228	)		N/M
Total revenues			249,615				257,486				(7,871	)			-3.1	%
Operating expenses
Same Store
Property operating expenses (1)			53,609				53,459				150				0.3	%
Real estate taxes and insurance			32,381				32,668				(287	)			-0.9	%
Property management fees (2)			7,175				7,279				(104	)			-1.4	%
Property general and administrative expenses (3)			5,168				5,038				130				2.6	%
Same Store operating expenses			98,333				98,444				(111	)			-0.1	%
Non-Same Store
Property operating expenses (4)			45				1,735				(1,690	)		N/M
Real estate taxes and insurance			(7	)			394				(401	)		N/M
Property management fees (2)			8				205				(197	)		N/M
Property general and administrative expenses (5)			58				162				(104	)		N/M
Non-Same Store operating expenses			104				2,496				(2,392	)		N/M
Total operating expenses			98,437				100,940				(2,503	)			-2.5	%
Operating income
Same Store
Miscellaneous income			559				486				73				15.0	%
Non-Same Store
Miscellaneous income			—				3				(3	)		N/M
Total operating income			559				489				70				14.3	%
NOI
Same Store			151,591				154,050				(2,459	)			-1.6	%
Non-Same Store			146				2,985				(2,839	)		N/M
Total NOI (6)		$	151,737			$	157,035			$	(5,298	)			-3.4	%

(1)For the years ended December 31, 2025 and 2024, excludes approximately $1,531,000 and $625,000, respectively, of casualty-related recoveries.

(2)Fees incurred to an unaffiliated third party that is an affiliate of a noncontrolling limited partner of the OP.

(3)For the years ended December 31, 2025 and 2024, excludes approximately $3,703,000 and $3,944,000, 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]

(4)For the years ended December 31, 2025 and 2024, excludes approximately $0 and $16,000, respectively, of casualty-related expenses.

(5)For the years ended December 31, 2025 and 2024, excludes approximately $307,000 and $54,000, 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.

(6)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 2024-2025 Same Store properties rent and occupancy metrics, revenues, operating expenses and NOI for the years ended December 31, 2025 and 2024 (dollars in thousands, except for per unit data):

		FY 2025				FY 2024				% Change
Same Store Total Units			12,963				12,948
Same Store Occupied Units			12,019				12,258
Same Store Ending Occupancy			92.7	%			94.7	%			-2.0	%
Same Store Average Rent per Unit		$	1,489			$	1,491				-0.1	%
Same Store Revenues
Same Store Rental Income		$	243,489			$	246,688				-1.3	%
Same Store Other Income			5,876				5,320				10.5	%
Total Same Store Revenues			249,365				252,008				-1.0	%
Same Store Operating Expenses
Payroll			19,192				19,926				-3.7	%
Repairs & Maintenance			22,574				22,022				2.5	%
Utilities			11,843				11,511				2.9	%
Real Estate Taxes			26,797				26,321				1.8	%
Insurance			5,584				6,347				-12.0	%
Property Management Fees			7,175				7,279				-1.4	%
Office Operations			3,678				3,706				-0.8	%
Marketing			1,490				1,332				11.9	%
Total Same Store Operating Expenses			98,333				98,444				-0.1	%
Same Store Operating Income
Miscellaneous income			559				486				15.0	%
Total Same Store Operating Income			559				486				15.0	%
2024-2025 Same Store NOI		$	151,591			$	154,050				-1.6	%

NXRT.NEXPOINT.COM Page 14

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

2024-2025 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				2025			2024			% Change	2025			2024			bps ∆			2025			2024			% Change
Texas
Dallas			1,944			$	1,227		$	1,226		0.1%		90.8	%		96.3	%		-550		$	31,266		$	31,836		-1.8%
Average/Total			1,944				1,227			1,226		0.1%		90.8	%		96.3	%		-550			31,266			31,836		-1.8%
North Carolina
Charlotte			504				1,398			1,380		1.3%		93.7	%		97.0	%		-330			9,155			9,200		-0.5%
Raleigh Durham			625				1,404			1,426		-1.5%		93.0	%		92.6	%		40			10,865			10,726		1.3%
Average/Total			1,129				1,401			1,405		-0.3%		93.3	%		94.6	%		-130			20,020			19,926		0.5%
Georgia
Atlanta			1,672				1,465			1,463		0.1%		92.6	%		93.9	%		-130			30,105			30,319		-0.7%
Average/Total			1,672				1,465			1,463		0.1%		92.6	%		93.9	%		-130			30,105			30,319		-0.7%
Tennessee
Nashville			1,338				1,255			1,281		-2.0%		92.2	%		94.4	%		-220			21,738			22,284		-2.5%
Average/Total			1,338				1,255			1,281		-2.0%		92.2	%		94.4	%		-220			21,738			22,284		-2.5%
Florida
Orlando			1,172				1,536			1,560		-1.5%		92.1	%		94.5	%		-240			22,140			22,744		-2.7%
Tampa			576				1,343			1,302		3.1%		91.7	%		93.6	%		-190			9,740			9,690		0.5%
South Florida			1,959				2,154			2,120		1.6%		94.5	%		95.4	%		-90			52,302			51,744		1.1%
Average/Total			3,707				1,833			1,816		0.9%		93.3	%		94.8	%		-150			84,182			84,178		0.0%
Arizona
Phoenix			2,009				1,391			1,443		-3.6%		94.5	%		93.8	%		70			36,148			37,912		-4.7%
Average/Total			2,009				1,391			1,443		-3.6%		94.5	%		93.8	%		70			36,148			37,912		-4.7%
Nevada
Las Vegas			1,164				1,364			1,336		2.1%		91.0	%		94.6	%		-360			20,030			20,233		-1.0%
Average/Total			1,164				1,364			1,336		2.1%		91.0	%		94.6	%		-360			20,030			20,233		-1.0%
Average/Total			12,963			$	1,489		$	1,491		-0.1%		92.7	%		94.7	%		-200		$	243,489		$	246,688		-1.3%

(1)This table includes the 35 properties in our 2024-2025 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				Q4 2025			Q3 2025			% Change	Q4 2025			Q3 2025			bps ∆			Q4 2025			Q3 2025			% Change
Texas
Dallas			1,944			$	1,227		$	1,236		-0.7%		90.8	%		93.1	%		-230		$	7,647		$	7,780		-1.7%
Average/Total			1,944				1,227			1,236		-0.7%		90.8	%		93.1	%		-230			7,647			7,780		-1.7%
North Carolina
Charlotte			504				1,398			1,413		-1.1%		93.7	%		95.2	%		-150			2,294			2,303		-0.4%
Raleigh Durham			625				1,404			1,413		-0.6%		93.0	%		95.7	%		-270			2,741			2,765		-0.9%
Average/Total			1,129				1,401			1,413		-0.8%		93.3	%		95.5	%		-220			5,035			5,068		-0.7%
Georgia
Atlanta			1,672				1,465			1,457		0.5%		92.6	%		94.5	%		-190			7,424			7,514		-1.2%
Average/Total			1,672				1,465			1,457		0.5%		92.6	%		94.5	%		-190			7,424			7,514		-1.2%
Tennessee
Nashville			1,338				1,255			1,274		-1.5%		92.2	%		93.5	%		-130			5,305			5,453		-2.7%
Average/Total			1,338				1,255			1,274		-1.5%		92.2	%		93.5	%		-130			5,305			5,453		-2.7%
Florida
Orlando			1,172				1,536			1,553		-1.1%		92.1	%		92.7	%		-60			5,426			5,495		-1.3%
Tampa			576				1,343			1,349		-0.4%		91.7	%		94.4	%		-270			2,429			2,422		0.3%
South Florida			1,959				2,154			2,150		0.2%		94.5	%		94.8	%		-30			12,914			13,165		-1.9%
Average/Total			3,707				1,833			1,837		-0.2%		93.3	%		94.1	%		-80			20,769			21,082		-1.5%
Arizona
Phoenix			2,009				1,391			1,426		-2.5%		94.5	%		91.9	%		260			8,800			8,984		-2.0%
Average/Total			2,009				1,391			1,426		-2.5%		94.5	%		91.9	%		260			8,800			8,984		-2.0%
Nevada
Las Vegas			1,164				1,364			1,353		0.8%		91.0	%		92.6	%		-160			4,947			5,017		-1.4%
Average/Total			1,164				1,364			1,353		0.8%		91.0	%		92.6	%		-160			4,947			5,017		-1.4%
Average/Total			12,963			$	1,489		$	1,497		-0.5%		92.7	%		93.6	%		-90		$	59,927		$	60,898		-1.6%

(1)This table includes the 35 properties in our Q4 Same Store pool.

NXRT.NEXPOINT.COM Page 16

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

Q4 Same Store Results of Operations for the Three Months Ended December 31, 2025 and 2024

There are 35 properties encompassing 12,963 units of apartment space, or approximately 97% of our Portfolio, in our same store pool for the three months ended December 31, 2025 and 2024 (our “Q4 Same Store” properties). Our Q4 Same Store properties exclude the following property in our Portfolio as of December 31, 2025: Sedona at Lone Mountain as well as the 21 units mentioned on page 1 of this release that are currently down.

As of December 31, 2025, our Q4 Same Store properties were approximately 92.7% leased with a weighted average monthly effective rent per occupied apartment unit of $1,489, which was a decrease of 200 bps and $2, respectively.

The following table reflects the revenues, property operating expenses and NOI for the three months ended December 31, 2025 and 2024 for our Q4 Same Store and Non-Same Store properties (dollars in thousands):

		For the Three Months Ended December 31,
		2025				2024				$ Change				% Change
Revenues
Same Store
Rental income		$	59,927			$	61,652			$	(1,725	)			-2.8	%
Other income			1,455				1,238				217				17.5	%
Same Store revenues			61,382				62,890				(1,508	)			-2.4	%
Non-Same Store
Rental income			242				(83	)			325			N/M
Other income			1				25				(24	)		N/M
Non-Same Store revenues			243				(58	)			301			N/M
Total revenues			61,625				62,832				(1,207	)			-1.9	%
Operating expenses
Same Store
Property operating expenses (1)			13,812				13,539				273				2.0	%
Real estate taxes and insurance			7,546				7,619				(73	)			-1.0	%
Property management fees (2)			1,764				1,808				(44	)			-2.4	%
Property general and administrative expenses (3)			1,383				1,278				105				8.2	%
Same Store operating expenses			24,505				24,244				261				1.1	%
Non-Same Store
Property operating expenses (4)			43				44				(1	)			-2.3	%
Real estate taxes and insurance			16				(174	)			190			N/M
Property management fees (2)			8				3				5			N/M
Property general and administrative expenses (5)			57				5				52			N/M
Non-Same Store operating expenses			124				(122	)			246			N/M
Total operating expenses			24,629				24,122				507				2.1	%
Operating income
Same Store
Miscellaneous income			128				238				(110	)			-46.2	%
Non-Same Store
Miscellaneous income			—				—				—			N/M
Total operating income			128				238				(110	)			-46.2	%
NOI
Same Store			37,005				38,884				(1,879	)			-4.8	%
Non-Same Store			119				64				55			N/M
Total NOI (6)		$	37,124			$	38,948			$	(1,824	)			-4.7	%

(1)For the three months ended December 31, 2025 and 2024, excludes approximately $95,000 and $622,000, respectively, of casualty-related recoveries.

(2)Fees incurred to an unaffiliated third party that is an affiliate of a noncontrolling limited partner of the OP.

NXRT.NEXPOINT.COM Page 17

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

(3)For the three months ended December 31, 2025 and 2024, excludes approximately $1,007,000 and $1,290,000, 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.

(4)For the three months ended December 31, 2025 and 2024, excludes approximately $1,795,000 and $373,000, respectively, of casualty-related expenses.

(5)For the three months ended December 31, 2025 and 2024, excludes approximately $89,000 and $(13,000), 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.

(6)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 Q4 Same Store properties rent and occupancy metrics, revenues, operating expenses and NOI for the three months ended December 31, 2025 and 2024 (dollars in thousands, except for per unit data):

		Q4 2025				Q4 2024				% Change
Same Store Total Units			12,963				12,948
Same Store Occupied Units			12,019				12,258
Same Store Ending Occupancy			92.7	%			94.7	%			-2.0	%
Same Store Average Rent per Unit		$	1,489			$	1,491				-0.1	%
Same Store Revenues
Same Store Rental Income		$	59,927			$	61,652				-2.8	%
Same Store Other Income			1,455				1,238				17.5	%
Total Same Store Revenues			61,382				62,890				-2.4	%
Same Store Operating Expenses
Payroll			4,735				5,025				-5.8	%
Repairs & Maintenance			6,137				5,654				8.5	%
Utilities			2,940				2,860				2.8	%
Real Estate Taxes			6,246				5,916				5.6	%
Insurance			1,300				1,703				-23.7	%
Property Management Fees			1,764				1,808				-2.4	%
Office Operations			955				956				-0.1	%
Marketing			428				322				32.9	%
Total Same Store Operating Expenses			24,505				24,244				1.1	%
Same Store Operating Income
Miscellaneous income			128				238				-46.2	%
Total Same Store Operating Income			128				238				-46.2	%
Q4 Same Store NOI		$	37,005			$	38,884				-4.8	%

NXRT.NEXPOINT.COM Page 18

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 income (loss), the most directly comparable GAAP financial measure, for the years ended December 31, 2025, 2024 and 2023 and for the three months ended December 31, 2025 and 2024 (in thousands, except per share amounts):

		For the Year Ended December 31,												For the Three Months Ended December 31,
		2025				2024				2023				2025				2024
Net income (loss)		$	(32,154	)		$	1,114			$	44,433			$	(10,348	)		$	(27,038	)
Depreciation and amortization			95,752				97,762				95,186				23,560				24,389
Gain on sales of real estate	(1)		—				(54,246	)			(67,926	)			—				(3,851	)
Adjustment for noncontrolling interests			(251	)			(176	)			(273	)			(52	)			26
FFO attributable to common stockholders			63,347				44,454				71,420				13,160				(6,474	)
FFO per share - basic		$	2.49			$	1.74			$	2.78			$	0.52			$	(0.25	)
FFO per share - diluted		$	2.48			$	1.69			$	2.72			$	0.52			$	(0.25	)
Loss on extinguishment of debt and modification costs			—				24,004				2,409				—				23,203
Casualty-related expenses/(recoveries)			264				1,389				(2,214	)			1,700				(249	)
Casualty loss			167				626				856				4				88
Gain on forfeited deposits			—				—				(250	)			—				—
Amortization of deferred financing costs			6,585				3,364				2,945				1,656				1,314
Mark-to-market adjustments of interest rate caps			961				(593	)			1,484				26				(124	)
Adjustment for noncontrolling interests			(31	)			(114	)			(20	)			(13	)			(96	)
Core FFO attributable to common stockholders			71,293				73,130				76,630				16,533				17,662
Core FFO per share - basic		$	2.81			$	2.87			$	2.99			$	0.65			$	0.70
Core FFO per share - diluted		$	2.79			$	2.79			$	2.92			$	0.65			$	0.68
Equity-based compensation expense			9,883				10,543				9,287				2,546				2,642
Adjustment for noncontrolling interests			(39	)			(42	)			(35	)			(10	)			(10	)
AFFO attributable to common stockholders			81,137				83,631				85,882				19,069				20,294
AFFO per share - basic		$	3.20			$	3.28			$	3.35			$	0.75			$	0.80
AFFO per share - diluted		$	3.18			$	3.19			$	3.27			$	0.75			$	0.78
Weighted average common shares outstanding - basic			25,390				25,516				25,654				25,364				25,404
Weighted average common shares outstanding - diluted	(2)		25,554				26,246				26,245				25,411				26,161
Dividends declared per common share		$	2.06			$	1.90			$	1.72			$	0.53			$	0.51
Net income (loss) Coverage - diluted	(3)	-0.61x				0.02x				0.98x				-0.77x				-2.08x
FFO Coverage - diluted	(3)	1.20x				0.89x				1.58x				0.98x				-0.50x
Core FFO Coverage - diluted	(3)	1.35x				1.47x				1.70x				1.23x				1.32x
AFFO Coverage - diluted	(3)	1.54x				1.68x				1.90x				1.42x				1.52x

(1)$31.5 million with a related party for the year ended December 31, 2024.

(2)The Company uses actual diluted weighted average common shares outstanding when in a dilutive position for FFO, Core FFO and AFFO.

(3)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 19

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

Historical Capital Expenditures

		FY 2025				FY 2024				% Change				Q4 2025				Q4 2024				% Change
($ in thousands)
Capital Expenditures
Acquisition Capital Expenditures		$	73,250			$	—			N/M				$	73,250			$	—			N/A
Capitalized Rehab Expenditures
Interior			5,951				4,760				25.0	%			1,953				826			N/M
Exterior and common area			283				2,202			N/M					74				355			N/M
Capitalized Maintenance Expenditures
Recurring			14,442				11,681				23.6	%			3,845				2,553			N/M
Non-Recurring			15,425				11,088				39.1	%			4,043				2,882				40.3	%
Total Capital Expenditures		$	109,351			$	29,731			N/M				$	83,165			$	6,616			N/M

NXRT.NEXPOINT.COM Page 20

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

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

Property Name (1)		Units				Rehab Units Completed (2)				Average Rent Pre-Rehab				Average Rent Post-Rehab				Avg. Rehab Cost Per Unit (3)				Post-Rehab Rent Change %				ROI (3)
Value-Add Programs In Progress
Arbors of Brentwood			346				202				1,204			$	1,399			$	9,293				16.1	%			25.1	%
Arbors on Forest Ridge			210				200				789				883				4,143				11.9	%			27.2	%
Atera Apartments			380				273				1,183				1,321				3,249				11.7	%			50.9	%
Avant at Pembroke Pines			1,520				847				1,833				2,066				16,208				12.7	%			17.2	%
Bella Solara			320				153				1,252				1,391				9,685				11.2	%			17.3	%
Bella Vista			248				220				1,457				1,594				10,125				9.4	%			16.2	%
Bloom			528				180				1,240				1,387				12,611				11.9	%			14.0	%
Brandywine I & II			632				638				1,023				1,204				10,444				17.8	%			20.9	%
Courtney Cove			324				353				970				1,068				4,438				10.0	%			26.3	%
Creekside at Matthews			240				120				1,332				1,507				8,935				13.1	%			23.5	%
Cutter's Point			196				190				984				1,094				5,845				11.2	%			22.6	%
Estates on Maryland			330				146				1,270				1,428				11,005				12.5	%			17.3	%
Fairways of San Marcos			352				204				1,434				1,576				10,166				9.9	%			16.8	%
High House at Cary			302				155				1,334				1,557				11,372				16.7	%			23.5	%
Madera Point			256				289				896				1,001				4,295				11.7	%			29.3	%
Parc500			217				256				1,364				1,534				13,101				12.5	%			15.6	%
Residences at Glenview Reserve			360				327				1,080				1,299				12,809				20.4	%			20.6	%
Residences at West Place			342				207				1,512				1,699				11,316				12.4	%			19.8	%
Rockledge Apartments			708				591				1,263				1,431				9,052				13.3	%			22.2	%
Sabal Palm at Lake Buena Vista			400				170				1,487				1,638				8,574				10.1	%			21.1	%
Seasons 704 Apartments			222				266				1,233				1,359				7,160				10.2	%			21.1	%
Six Forks Station			323				160				1,118				1,386				11,760				24.0	%			27.4	%
Summers Landing			196				87				1,028				1,197				8,612				16.5	%			23.6	%
Summit at Sabal Park			252				260				1,021				1,117				5,477				9.4	%			21.0	%
The Adair			232				172				1,722				1,992				11,370				15.7	%			28.6	%
The Cornerstone			430				577				1,049				1,141				4,642				8.8	%			23.9	%
The Enclave			204				187				1,454				1,627				9,725				11.9	%			21.3	%
The Heritage			204				190				1,387				1,515				9,170				9.2	%			16.8	%
The Preserve at Terrell Mill			752				867				894				1,060				10,417				18.6	%			19.1	%
The Verandas at Lake Norman			264				113				1,236				1,390				9,578				12.4	%			19.3	%
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				343				850				950				6,302				11.8	%			19.1	%
Versailles			388				411				815				897				5,019				10.2	%			19.8	%
Versailles II			242				121				843				934				4,021				10.8	%			27.2	%
Total/Weighted Average			12,984				9,866			$	1,172			$	1,329			$	9,115				13.5	%			20.8	%

(1)We do not plan to upgrade 100% of the units at each of our properties.

(2)Inclusive of all full and partial interior upgrades completed through December 31, 2025.

(3)Inclusive of all full and partial interior upgrades completed and leased through December 31, 2025.

NXRT.NEXPOINT.COM Page 21

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

Value-Add Program Details: Kitchen & Laundry Appliances

Property Name (1)		Units				Rehab Units Completed (2)				Avg. Rehab Cost Per Unit (3)				Post-Rehab Rent Change $				ROI (3)
Value-Add Programs In Progress
Arbors of Brentwood			346				319			$	871			$	50				68.8	%
Arbors on Forest Ridge			210				136				787				47				71.4	%
Atera Apartments			380				369				813				40				59.7	%
Avant at Pembroke Pines			1,520				541				1,299				51				46.7	%
Brandywine I & II			632				218				1,085				72				79.5	%
Creekside at Matthews			240				179				1,099				56				60.6	%
Cutter's Point			196				152				794				46				70.2	%
Estates on Maryland			330				21				1,067				38				42.3	%
Madera Point			256				158				893				31				41.3	%
Residences at Glenview Reserve			360				95				1,233				55				53.5	%
Rockledge Apartments			708				628				825				40				58.2	%
Sabal Palm at Lake Buena Vista			400				634				599				86				171.8	%
Six Forks Station			323				198				1,087				55				60.7	%
Summers Landing			196				110				886				58				79.2	%
Summit at Sabal Park			252				249				994				40				48.3	%
The Adair			232				11				1,083				84				92.8	%
The Cornerstone			430				17				809				50				74.2	%
The Verandas at Lake Norman			264				218				1,084				46				51.3	%
Venue at 8651			333				272				779				47				72.4	%
Versailles			388				315				878				49				67.5	%
Versailles II			242				139				887				29				38.7	%
Total/Weighted Average			8,238				4,979			$	950			$	50				63.7	%

(1)We do not plan to upgrade 100% of the units at each of our properties.

(2)Inclusive of all kitchen and laundry appliance upgrades completed through December 31, 2025.

(3)Inclusive of all kitchen and laundry appliance upgrades completed and leased through December 31, 2025.

NXRT.NEXPOINT.COM Page 22

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

Value-Add Program Details: Smart Home Technology Packages

Property Name (1)		Units				Rehab Units Completed (2)				Avg. Rehab Cost Per Unit (3)				Post-Rehab Rent Change $				ROI (3)
Value-Add Programs In Progress
Arbors of Brentwood			346				346			$	1,419			$	45				30.9	%
Arbors on Forest Ridge			210				210				1,416				45				30.9	%
Atera Apartments			380				380				1,339				50				37.0	%
Avant at Pembroke Pines			1,520				1,520				1,350				45				32.4	%
Bella Solara			320				320				820				35				39.5	%
Bella Vista			248				248				970				40				39.3	%
Bloom			528				528				901				40				42.3	%
Brandywine I & II			632				632				1,234				45				35.5	%
Courtney Cove			324				324				1,238				35				26.2	%
Creekside at Matthews			240				240				913				65				72.9	%
Cutter's Point			196				196				1,400				45				31.3	%
Estates on Maryland			330				330				1,074				20				14.2	%
Fairways of San Marcos			352				352				901				40				42.3	%
Hight House at Cary			302				302				899				65				74.1	%
Madera Point			256				256				1,283				45				34.1	%
Residences at Glenview Reserve			360				360				1,017				45				43.1	%
Rockledge Apartments			708				708				942				35				34.4	%
Sabal Palm at Lake Buena Vista			400				400				1,237				45				35.4	%
Six Forks Station			323				323				844				35				38.4	%
Summers Landing			196				196				1,449				45				30.2	%
The Adair			232				232				913				45				48.0	%
The Cornerstone			430				430				1,236				45				35.4	%
The Enclave			204				204				966				40				39.4	%
The Heritage			204				204				997				40				38.2	%
The Venue on Camelback Apartments			415				415				808				30				33.0	%
The Verandas at Lake Norman			264				264				954				65				69.8	%
Torreyana Apartments			316				316				900				35				36.0	%
Venue at 8651			333				333				1,229				45				35.6	%
Versailles			388				388				1,080				45				40.6	%
Versailles II			242				242				1,241				45				35.3	%
Total/Weighted Average			11,199				11,199			$	1,113			$	43				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
Summit at Sabal Park			252				—			TBD				TBD				TBD
The Preserve at Terrell Mill			752				—			TBD				TBD				TBD
Sedona at Lone Mountain			321				—			TBD				TBD				TBD
Total/Weighted Average Planned			1,889				—			TBD				TBD				TBD

(1)We do not plan to upgrade 100% of the units at each of our properties.

(2)Inclusive of all smart home technology package upgrades completed through December 31, 2025.

(3)Inclusive of all smart home technology package upgrades completed and leased through December 31, 2025.

NXRT.NEXPOINT.COM Page 23

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 December 31, 2025 (dollars in thousands):

Operating Properties		Type		Term (months)				Outstanding Principal				Interest Rate (1)		Maturity Date
Residences at West Place		Fixed			120			$	33,817			4.24%		10/1/2028
Arbors of Brentwood		Floating			84				39,977			4.88%		10/1/2031
Avant at Pembroke Pines		Floating			84				248,185			4.88%		10/1/2031
Bella Vista		Floating			84				37,400			4.88%		10/1/2031
Brandywine I & II		Floating			84				59,526			4.88%		10/1/2031
Cornerstone		Floating			84				45,815			4.88%		10/1/2031
Estates on Maryland		Floating			84				37,345			4.88%		10/1/2031
High House at Cary		Floating			84				32,478			4.88%		10/1/2031
Residences at Glenview Reserve		Floating			84				33,271			4.88%		10/1/2031
Sabal Palm at Lake Buena Vista		Floating			84				56,220			4.88%		10/1/2031
Six Forks Station		Floating			84				30,430			4.88%		10/1/2031
Summers Landing		Floating			84				14,135			4.88%		10/1/2031
The Adair		Floating			84				33,229			4.88%		10/1/2031
The Enclave		Floating			84				33,440			4.88%		10/1/2031
The Heritage		Floating			84				29,810			4.88%		10/1/2031
The Venue on Camelback		Floating			84				36,465			4.88%		10/1/2031
The Verandas at Lake Norman		Floating			84				30,113			4.88%		10/1/2031
Versailles II		Floating			84				15,706			4.88%		10/1/2031
Arbors on Forest Ridge		Floating			84				17,307			4.88%		12/1/2031
Atera Apartments		Floating			84				38,555			4.88%		12/1/2031
Bella Solara		Floating			84				37,772			4.88%		12/1/2031
Bloom		Floating			84				60,848			4.88%		12/1/2031
Courtney Cove		Floating			84				31,596			4.88%		12/1/2031
Creekside at Matthews		Floating			84				28,703			4.88%		12/1/2031
Cutter's Point		Floating			84				18,994			4.88%		12/1/2031
Fairways at San Marcos		Floating			84				55,056			4.88%		12/1/2031
Madera Point		Floating			84				29,676			4.88%		12/1/2031
Parc500		Floating			84				30,012			4.88%		12/1/2031
Rockledge Apartments		Floating			84				78,444			4.88%		12/1/2031
Seasons 704 Apartments		Floating			84				33,960			4.88%		12/1/2031
The Preserve at Terrell Mill		Floating			84				74,341			4.88%		12/1/2031
The Summit at Sabal Park		Floating			84				26,735			4.88%		12/1/2031
Torreyana Apartments		Floating			84				43,153			4.88%		12/1/2031
Venue at 8651		Floating			84				24,620			4.88%		12/1/2031
Versailles		Floating			84				26,108			4.88%		12/1/2031
								$	1,503,242
Fair market value adjustment									291
Deferred financing costs, net of accumulated amortization of $6,979									(34,123	)
								$	1,469,410

(1)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 December 31, 2025, SOFR was 3.79%.

NXRT.NEXPOINT.COM Page 24

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

Credit Facility

The following table contains summary information concerning the Company's credit facility as of December 31, 2025 (dollars in thousands):

		Type		Term (months)				Outstanding Principal				Available Principal				Interest Rate (1)		Maturity Date
Credit Facility		Floating			36			$	90,000			$	108,000			5.69%		6/30/2028
Deferred financing costs, net of accumulated amortization of $380									(1,898	)
								$	88,102

(1)Interest rate is based on term SOFR plus an applicable margin. Term SOFR as of December 31, 2025 was 3.69%.

Interest Rate Swap Agreements

As of December 31, 2025, 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)

(1)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 December 31, 2025, Adjusted SOFR and SOFR were 3.94% and 3.79%, respectively.

(2)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

%

(1)The floating rate option for the interest rate swap is Adjusted SOFR. As of December 31, 2025, Adjusted SOFR was 3.94%.

NXRT.NEXPOINT.COM Page 25

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

Interest Rate Cap Agreements

As of December 31, 2025, 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
The Venue on Camelback		Floating		2/1/2026		$	42,788				6.07	%
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	%
						$	1,512,213				7.98	%

NXRT.NEXPOINT.COM Page 26

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

Debt Maturity Schedule

The following table summarizes our contractual obligations and commitments as of December 31, 2025 for the next five calendar years subsequent to December 31, 2025 and thereafter. We used the applicable reference rate as of December 31, 2025 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			$	1,503,242			$	—			$	—			$	33,817			$	—			$	—			$	1,469,425
Interest expense	(1)			383,407				53,068				64,161				66,712				68,223				70,888				60,355
Total			$	1,886,649			$	53,068			$	64,161			$	100,529			$	68,223			$	70,888			$	1,529,780
Credit Facility
Principal payments			$	90,000			$	—			$	—			$	90,000			$	—			$	—			$	—
Interest expense				12,002				4,910				4,698				2,394				—				—				—
Total			$	102,002			$	4,910			$	4,698			$	92,394			$	—			$	—			$	—
Total contractual obligations and commitments			$	1,988,651			$	57,978			$	68,859			$	192,923			$	68,223			$	70,888			$	1,529,780

(1)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 December 31, 2025, 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 December 31, 2025 to determine our expected settlements through the terms of the interest rate swaps.

(1)As of December 31, 2025, we had total indebtedness of $1.6 billion at an adjusted weighted average interest rate of 3.28%, of which $1.6 billion was debt with a floating interest rate. The interest rate swap agreements effectively fix the interest rate on $0.9 billion, or 62%, 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 and SOFR on the $0.9 billion notional amount of interest rate swap agreements that we have entered into as of December 31, 2025, which effectively fix the interest rate on $0.9 billion of our floating rate mortgage debt outstanding.

NXRT.NEXPOINT.COM Page 27

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

(1)Only includes properties owned as of December 31, 2025.

(2)Includes interior and exterior rehab.

NXRT.NEXPOINT.COM Page 28

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

Historical Disposition Details

(in thousands, except unit and per unit amounts)
Property Name		Location		Units				Purchase Price				Sale Price				Sales Price Per Unit				Sale Date		Net Cash Proceeds (1)				Gain on 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

(1)Represents sales price, net of closing costs.

(2)The NAVA Portfolio consists of The Arbors, The Crossings, The Crossings at Holcomb Bridge and The Knolls.

NXRT.NEXPOINT.COM Page 29

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) gain on forfeited deposits, (9) 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, gain on forfeited deposits, 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 30

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

Reconciliations

Reconciliation of Debt to Net Debt

(dollar amounts in thousands)		FY 2025				FY 2024				FY 2023
Total mortgage debt		$	1,503,242			$	1,503,242			$	1,551,236
Credit facilities			90,000				—				24,000
Total Debt			1,593,242				1,503,242				1,575,236
Adjustments to arrive at net debt:
Cash and cash equivalents			(13,704	)			(23,148	)			(12,367	)
Restricted cash held for value-add upgrades and green improvements			(7,639	)			(3,177	)			(2,929	)
Net Debt		$	1,571,899			$	1,476,917			$	1,559,940
Enterprise Value (1)		$	2,334,899			$	2,537,917			$	2,443,940
Leverage Ratio			67	%			58	%			64	%

(1)Enterprise Value is calculated as Market Capitalization as of December 31, 2025 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 March 31, 2026 (in thousands):

		For the Year Ended December 31, 2026				For the Three Months Ended March 31, 2026
		Mid-Point (1)				Mid-Point (1)
Net loss		$	(36,114	)		$	(10,335	)
Adjustments to reconcile net loss to NOI:
Advisory and administrative fees			7,169				1,768
Corporate general and administrative expenses			19,112				4,675
Corporate income			(1,757	)			(472	)
Property general and administrative expenses	(2)		4,161				1,011
Depreciation and amortization			95,675				25,991
Interest expense			67,098				15,502
Equity in earnings of affiliate			(310	)			(75	)
NOI		$	155,034			$	38,064
Less Non-Same Store
Revenues	(3)		(6,387	)
Operating expenses	(3)		2,212
Same Store NOI	(3)	$	150,859

(1)Mid-Point estimates shown for full year and first quarter 2026 guidance. Assumptions made for full year and first 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.

(2)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.

(3)Amounts are derived from the results of operations of our 2026 Same Store properties (assuming 35 properties are in our Full Year 2026 Same Store pool) and Non-Same Store properties.

NXRT.NEXPOINT.COM Page 31

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
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

(1)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.

NXRT.NEXPOINT.COM Page 32

FAQ

How did NexPoint Residential Trust (NXRT) perform financially in full year 2025?

NexPoint Residential Trust generated $251.3 million of total revenues in 2025, down from $259.7 million in 2024, and reported a net loss attributable to common stockholders of $32.0 million. However, FFO rose to $63.3 million and Core FFO stayed near flat versus 2024.

What were NXRT’s key per-share earnings, FFO, and AFFO results for 2025?

For 2025, NXRT posted a diluted EPS loss of $(1.26) per share. FFO per diluted share was $2.48, Core FFO per diluted share was $2.79, and AFFO per diluted share was $3.18, all compared against similar levels in 2024.

How strong were NXRT’s portfolio occupancy and rents at year-end 2025?

At December 31, 2025, NXRT’s 36-property portfolio of 13,305 units had physical occupancy of 92.7%. The weighted average effective monthly rent per unit across the portfolio was $1,492, with Same Store average effective rent of $1,489.

What acquisitions and capital actions did NXRT complete in 2025?

In 2025, NXRT acquired the 321‑unit Sedona at Lone Mountain in Las Vegas for $73.25 million. The company also repurchased and retired 223,109 shares at an average price of $34.29 and invested heavily in value‑add and maintenance capital expenditures.

What dividend did NexPoint Residential Trust pay in 2025 and Q4 2025?

NXRT declared total 2025 common dividends of $2.06 per share, up from $1.90 in 2024. The fourth-quarter 2025 dividend was $0.53 per share, a $0.02 or 3.9% increase over the prior quarter’s dividend level.

What guidance did NXRT issue for 2026 Core FFO and Same Store performance?

For 2026, NXRT projects diluted EPS between $(1.54) and $(1.26) and Core FFO per diluted share between $2.42 and $2.71. Same Store NOI growth is guided in a range of -2.5% to 1.5%, assuming a 35‑property Same Store pool.

How leveraged is NexPoint Residential Trust based on year-end 2025 figures?

At year-end 2025, NXRT had total debt outstanding of $1.59 billion, including $1.50 billion of mortgage debt and $90 million on its credit facility. The total debt-to-market-cap-plus-debt leverage ratio stood at approximately 68%, with substantial use of interest rate swaps and caps.

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