NexPoint Residential (NYSE: NXRT) posts Q2 2026 results and revises 2026 guidance

Rhea-AI Filing Summary

NexPoint Residential Trust, Inc. reported second quarter 2026 revenue of $64.6 million, up from $63.1 million a year earlier, and a net loss attributable to common stockholders of $8.6 million, or $(0.34) per diluted share, compared with a $(0.28) loss.

For Q2 2026, NOI was $37.9 million, essentially flat year over year, while Same Store NOI declined 2.9% to $36.9 million. FFO, Core FFO and AFFO per diluted share were $0.60, $0.66 and $0.77, all below the prior-year quarter. Portfolio occupancy was 93.5% with a weighted average effective monthly rent of $1,490 across 36 properties and 13,305 units.

The company deployed $22.1 million into a 10.00% fixed-rate term loan under its DST bridge-lending program and continued its value-add upgrades, reaching 10,474 cumulative rehab units with a 20.7% ROI on post-rehab rents. Total debt outstanding was $1.62 billion, implying a 69% leverage ratio, and a quarterly dividend of $0.53 per share was paid, with the same amount approved for Q3 2026. Full-year 2026 guidance now contemplates a loss per diluted share between $(1.63) and $(1.45) and Core FFO per diluted share between $2.35 and $2.54, with Same Store NOI expected between -2.5% and 0.5%.

8-K Event Classification

2 items: 2.02, 9.01

2 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Key Figures

Total revenues Q2 2026: $64,609 thousand Net loss Q2 2026: $8,611 thousand FFO per diluted share Q2 2026: $0.60 +5 more

8 metrics

Total revenues Q2 2026 $64,609 thousand For the three months ended June 30, 2026 vs $63,149 thousand in Q2 2025

Net loss Q2 2026 $8,611 thousand Net loss attributable to common stockholders for Q2 2026, $(0.34) per diluted share

FFO per diluted share Q2 2026 $0.60 Funds From Operations per diluted share for the quarter ended June 30, 2026

Core FFO per diluted share Q2 2026 $0.66 Core FFO per diluted share for Q2 2026 vs $0.71 in Q2 2025

AFFO per diluted share Q2 2026 $0.77 Adjusted FFO per diluted share for Q2 2026 vs $0.80 in Q2 2025

Portfolio occupancy 93.5% Physical occupancy across all 36 properties and 13,305 units as of June 30, 2026

Total debt outstanding $1,622,674 thousand Total debt outstanding at Q2 2026 with a 69% leverage ratio

Quarterly dividend per share $0.53 Common dividend for Q2 2026; same amount approved for Q3 2026

Key Terms

Funds From Operations (FFO), Core FFO, AFFO, Same Store NOI, +2 more

6 terms

Funds From Operations (FFO) financial

"FFO, Core FFO, AFFO and NOI are non-GAAP measures."

Funds from operations (FFO) is a performance measure commonly used for real estate companies that adjusts net income by adding back non‑cash items like building depreciation and removing one‑time gains or losses from property sales, to show recurring operating earnings. Investors use FFO to judge a property portfolio’s ability to generate cash for dividends and growth — think of it as measuring a car’s regular fuel efficiency rather than its accounting value or one‑off resale price.

Core FFO financial

"For the second quarter of 2026, Core FFO totaled $16.9 million, or $0.66 per diluted share."

Core FFO (Core Funds From Operations) is a real estate industry measure of a property owner's recurring cash earnings calculated by starting with net income and removing non-cash accounting items and one-time gains or losses so the number reflects ongoing operating performance. Investors use it like a trimmed-down paycheck: it helps compare cash-generating ability across periods and companies by focusing on the stable, repeatable income rather than temporary or accounting-driven swings.

AFFO financial

"For the second quarter of 2026, AFFO totaled $19.7 million, or $0.77 per diluted share."

AFFO (Adjusted Funds from Operations) is a measure of how much cash a real estate company or investment trust generates from its core operations after subtracting routine upkeep, leasing costs and other recurring expenses. Investors use it as a rough proxy for the cash available to pay dividends or reinvest, like checking how much money remains in your household budget after paying regular bills to see what you can spend or save.

Same Store NOI financial

"For the second quarter of 2026, Q2 Same Store NOI decreased 2.9% to $36.9 million."

Same-store Net Operating Income (NOI) tracks the change in income from a company's properties or retail locations that were owned and operating for the entire comparison period, excluding new acquisitions or dispositions. It matters to investors because it isolates the performance of the existing portfolio—like comparing the same set of stores year-to-year—to show whether underlying operations are generating more revenue or cutting costs, rather than masking results with growth from new assets.

Net Asset Value financial

"Components of Net Asset Value (dollar and share amounts in thousands)."

Net asset value is the total value of an investment fund's assets minus any liabilities, divided by the number of shares or units outstanding. It represents the per-share worth of the fund, similar to how the value of a house is determined by its total worth after debts are subtracted. Investors use it to gauge the true value of their holdings and to compare different investment options.

DST bridge-lending program financial

"The investment represents the Company's first deployment under its DST bridge-lending program."

Earnings Snapshot

Total revenues: $64.6 million (Q2 2026) · Guidance included

Quarter and six months ended June 30, 2026

Total revenues $64.6 million (Q2 2026) Compared with $63.1 million in Q2 2025

Net loss per diluted share $(0.34) (Q2 2026) Compared with $(0.28) in Q2 2025

FFO per diluted share $0.60 (Q2 2026) Compared with $0.67 in Q2 2025

Core FFO per diluted share $1.34 (YTD 2026) Compared with $1.45 in YTD 2025

AFFO per diluted share $1.54 (YTD 2026) Compared with $1.64 in YTD 2025

Same Store NOI growth -2.9% (Q2 2026) Same Store NOI decreased from $38.0 million to $36.9 million

Guidance

For full-year 2026, earnings (loss) per diluted share is guided between $(1.63) and $(1.45), and Core FFO per diluted share between $2.35 and $2.54, with Same Store NOI growth expected between -2.5% and 0.5%.

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Available on EDGAR 08/04/2026 - 08:23 AM Accepted by SEC EDGAR 08/04/2026 - 08:23 AM Learn about SEC filing dates

FAQ

How did NexPoint Residential Trust (NXRT) perform financially in Q2 2026?

NexPoint Residential Trust reported Q2 2026 revenue of $64.6 million and a net loss attributable to common stockholders of $8.6 million, or $(0.34) per diluted share, compared with $63.1 million revenue and a $(0.28) loss in Q2 2025.

What were NXRT’s key FFO and AFFO metrics for the quarter ended June 30, 2026?

For Q2 2026, NXRT generated FFO of $15.2 million, or $0.60 per diluted share, Core FFO of $16.9 million, or $0.66 per share, and AFFO of $19.7 million, or $0.77 per diluted share, all below the prior-year levels.

What were NXRT’s Same Store NOI and operating trends in Q2 2026?

Same Store NOI for Q2 2026 decreased 2.9% to $36.9 million on 35 properties. Same Store occupancy was 93.6% and Same Store average effective monthly rent per unit was $1,487, down 0.9% year over year despite slightly higher occupancy.

What guidance did NexPoint Residential Trust (NXRT) provide for full-year 2026?

NXRT guided to 2026 earnings (loss) per diluted share between $(1.63) and $(1.45) and Core FFO per diluted share between $2.35 and $2.54. Same Store NOI growth is expected between -2.5% and 0.5% for the 35-property Same Store pool.

What is NXRT’s dividend and leverage profile as of Q2 2026?

NXRT paid a $0.53 per share common dividend for Q2 2026 and its Board approved the same for Q3 2026. Total debt outstanding was $1.62 billion, resulting in a 69% leverage ratio based on total debt to market capitalization plus total debt.

What portfolio and value-add metrics did NexPoint Residential Trust (NXRT) report?

As of June 30, 2026, NXRT’s portfolio comprised 36 properties with 13,305 units and 93.5% occupancy at an average effective monthly rent of $1,490. The company has completed 10,474 rehab units, achieving an average $152 post-rehab rent increase and 20.7% ROI.

What new financing or investments did NXRT undertake in Q2 2026?

On June 5, 2026, NXRT funded a $22.1 million fixed-rate term loan, the "Waterford Loan," at 10.00% interest to finance a 240-unit multifamily property. This was the first deployment under its DST bridge-lending program, funded through the revolving credit facility.

false000162039300016203932026-08-042026-08-04

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): August 4, 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)		(I.R.S. 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:

☐ 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 August 4, 2026, NexPoint Residential Trust, Inc. (the “Company”) announced financial results for the Company’s second quarter ended June 30, 2026. The full text of the press release is furnished herewith as Exhibit 99.1 to this report.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Exhibit Number		Exhibit Description
99.1		Press Release dated August 4, 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: August 4, 2026

Exhibit 99.1

4 August 2026 | NYSE: NXRT

EARNINGS SUPPLEMENT: SECOND QUARTER 2026

NEXPOINT RESIDENTIAL TRUST, INC.

300 CRESCENT COURT, SUITE 700

DALLAS, TX 75201

INVESTOR RELATIONS:

KRISTEN GRIFFITH

NXRT.NEXPOINT.COM

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

TABLE OF CONTENTS

Earnings Release		1
Cautionary Statement Regarding Forward-Looking Statements		3
Overview		4
Highlights of Recent Activity		7
Financial Summary		9
2026 Full Year Guidance Summary		10
Components of Net Asset Value		11
Consolidated Balance Sheets		12
Consolidated Statements of Operations		13
NOI and Same Store NOI		14
Q2 Same Store Results		15
Q2 Same Store Properties Operating Metrics		17
QoQ Same Store Properties Operating Metrics		19
YTD Same Store Results		20
FFO, Core FFO and AFFO		21
Historical Capital Expenditures		22
Value-Add Program Details		23
Outstanding Debt Details		26
Debt Maturity Schedule		29
Historical Acquisition Details		30
Historical Disposition Details		31
Definitions and Reconciliations of Non-GAAP Measures		32

the summit at sabal park: Tampa, FL

Leasing office upon acquisition

2026 upgraded leasing office

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

FOR IMMEDIATE RELEASE

Contact:

Investor Relations

Kristen Griffith

IR@nexpoint.com

(214) 276-6300

Media inquiries: Comms@nexpoint.com

NEXPOINT RESIDENTIAL TRUST, INC. REPORTS SECOND QUARTER 2026 RESULTS

NXRT Reports Continued Improvement in Monthly Lease Trade-Outs and Deploys Initial $22.1 Million Fixed-Rate Term Loan for DST Bridge-Lending Initiative

Dallas, TX, August 4, 2026 – NexPoint Residential Trust, Inc. (NYSE:NXRT) reported financial results for the second quarter ended June 30, 2026.

Highlights

•NXRT1 reported net loss, FFO2, Core FFO2 and AFFO2 of $8.6M, $15.2M, $16.9M and $19.7M, respectively, attributable to common stockholders for the quarter ended June 30, 2026, compared to net loss, FFO, Core FFO, and AFFO of $7.0M, $16.9M, $18.0M and $20.3M, respectively, attributable to common stockholders for the quarter ended June 30, 2025.

•NXRT reported net loss, FFO, Core FFO and AFFO of $15.4M, $32.6M, $34.2M and $39.3M, respectively, attributable to common stockholders for the six months ended June 30, 2026, compared to net loss, FFO, Core FFO, and AFFO of $13.9M, $34.3M, $37.0M and $41.8M, respectively, attributable to common stockholders for the six months ended June 30, 2025.

•For the three months ended June 30, 2026, Q2 Same Store properties3, occupancy increased 30 bps, total revenue decreased 0.6%, and average effective rent and NOI2 decreased 0.9% and 2.9% over the prior year period.

•For the six months ended June 30, 2026, YTD Same Store properties3, occupancy increased 30 bps, total revenue and NOI2 decreased 1.4% and 2.8%, respectively, and average effective rent decreased 0.9% over the prior year period.

•NXRT paid a second quarter dividend of $0.53 per share of common stock on June 30, 2026.

•The weighted average effective monthly rent per unit across all 36 properties held as of June 30, 2026 (the “Portfolio”), consisting of 13,3054 units, was $1,490, while physical occupancy was 93.5%.

•On June 5, 2026, the Company deployed $22.1 million into a fixed-rate term loan (the "Waterford Loan"), bearing interest at 10.00% per annum, that financed the acquisition of a 240-unit stabilized multifamily property in the Greensboro–High Point, North Carolina market. The investment represents the Company's first deployment under its DST bridge-lending program and was funded through the Company's revolving credit facility, capturing a positive spread between the Waterford Loan's 10.00% fixed rate and the Company's cost of borrowings.

•During the second quarter 2026, for the properties in the Portfolio, we completed 459 full and partial upgrades and leased 255 upgraded units, achieving an average monthly rent premium of $90.60 and a 23.0% ROI5.

•Since inception, for the properties currently in the Portfolio, we have completed 10,474 full and partial upgrades, 5,130 kitchen and laundry appliances, and 11,199 technology packages, resulting in a $152, $51, and $43 average monthly rental increase per unit and a 20.7%, 63.4%, and 37.2% ROI, respectively.

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 loss, see the “Definitions and Reconciliations of Non-GAAP Measures,” “FFO, Core FFO and AFFO” and “NOI and Same Store NOI” 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 12,984 units of apartment space in our Same Store pool for the three months ended June 30, 2026 (our “Q2 Same Store” properties) and 35 properties encompassing 12,984 units of apartment space in our Same Store pool for the six months ended June 30, 2026 (our “YTD Same Store” properties).

4)Total units owned in our Portfolio is 13,305, however 1 unit is currently down.

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

NXRT.NEXPOINT.COM Page 1

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

Second Quarter 2026 Financial Results

•Total revenues were $64.6 million for the second quarter of 2026, compared to $63.1 million for the second quarter of 2025.

•Net loss for the second quarter of 2026 totaled $8.6 million, or loss of $0.34 per diluted share, which included $23.9 million of depreciation and amortization expense. This compared to net loss of $7.0 million, or loss of $0.28 per diluted share, for the second quarter of 2025, which included $24.1 million of depreciation and amortization expense.

•The change in our net loss of $8.6 million for the three months ended June 30, 2026 as compared to our net loss of 7.0 million for the three months ended June 30, 2025 primarily relates to an increase in property operating expenses and interest expense of $2.1 million and $0.7 million, respectively, offset by an increase in total revenues of $1.5 million.

•For the second quarter of 2026, NOI was $37.9 million on 36 properties, compared to $38.0 million for the second quarter of 2025 on 35 properties.

•For the second quarter of 2026, Q2 Same Store NOI decreased 2.9% to $36.9 million, compared to $38.0 million for the second quarter of 2025.

•For the second quarter of 2026, FFO totaled $15.2 million, or $0.60 per diluted share, compared to $16.9 million, or $0.67 per diluted share, for the second quarter of 2025.

•For the second quarter of 2026, Core FFO totaled $16.9 million, or $0.66 per diluted share, compared to $18.0 million, or $0.71 per diluted share, for the second quarter of 2025.

•For the second quarter of 2026, AFFO totaled $19.7 million, or $0.77 per diluted share, compared to $20.3 million, or $0.80 per diluted share, for the second quarter of 2025.

2026 Year to Date Financial Results

•Total revenues were $128.2 million for the six months ended June 30, 2026, compared to $126.4 million for the six months ended June 30, 2025.

•Net loss for the six months ended June 30, 2026 totaled $15.4 million, or loss of $0.60 per diluted share, which included $48.2 million of depreciation and amortization expense. This compared to net loss of $13.9 million, or loss of $0.55 per diluted share, for the six months ended June 30, 2025, which included $48.4 million of depreciation and amortization expense.

•The change in our net loss of $15.4 million for the six months ended June 30, 2026 as compared to our net loss of $13.9 million for the six months ended June 30, 2025 primarily relates to an increase in interest expense of $1.7 million.

•For the six months ended June 30, 2026, NOI was $75.5 million on 36 properties, compared to $75.8 million for the six months ended June 30, 2025 on 35 properties.

•For the six months ended June 30, 2026, Same Store NOI decreased 2.8% to $73.6 million, compared to $75.8 million for the six months ended June 30, 2025.

•For the six months ended June 30, 2026, FFO totaled $32.6 million, or $1.28 per diluted share, compared to $34.3 million, or $1.34 per diluted share, for the six months ended June 30, 2025.

•For the six months ended June 30, 2026, Core FFO totaled $34.2 million, or $1.34 per diluted share, compared to $37.0 million, or $1.45 per diluted share, for the six months ended June 30, 2025.

•For the six months ended June 30, 2026, AFFO totaled $39.3 million, or $1.54 per diluted share, compared to $41.8 million, or $1.64 per diluted share, for the six months ended June 30, 2025.

Subsequent Events

•On July 27, 2026, the Company’s Board approved a quarterly dividend of $0.53 per share, payable on September 30, 2026 to stockholders of record on September 15, 2026.

Second Quarter Earnings Conference Call

NXRT will host a call on Tuesday, August 4, 2026, at 11:00 a.m. ET (10:00 a.m. CT), to discuss its second quarter 2026 financial results. The conference call can be accessed live over the phone by dialing 833-461-5787 or, for international callers, +1 365-657-4084 and using passcode Conference ID: 814362322. 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.

About NXRT

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

NXRT.NEXPOINT.COM Page 2

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

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, forecasted submarket deliveries, 2026 full year guidance for earnings (loss) 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 third 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 and rehab budgets. They are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed in any forward-looking statement, including those described in greater detail in our filings with the SEC, particularly those described in our Annual Report on Form 10-K. Readers should not place undue reliance on any forward-looking statements and are encouraged to review the Company’s most recent Annual Report on Form 10-K and other filings with the SEC for a more complete discussion of the risks and other factors that could affect any forward-looking statements. The statements made herein speak only as of the date of this release and except as required by law, NXRT does not undertake any obligation to publicly update or revise any forward-looking statements.

NXRT.NEXPOINT.COM Page 3

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

NEXPOINT RESIDENTIAL TRUST, INC.: SECOND QUARTER 2026 OVERVIEW

Company Profile

(share counts in thousands)
Exchange/Ticker	NYSE; NYSE Texas: NXRT
Share Price (1)	$25.91
Insider Ownership (2)	17.25%
2026 Q3 Dividend Per Share	$0.53
Dividend Yield (1)	8.18%
Shares Outstanding - basic (3)	25,517
Shares Outstanding - diluted (3)	25,517

(1)As of the close of market trading on August 3, 2026.

(2)As of the close of market trading on June 30, 2026.

(3)Weighted average for the three months ended June 30, 2026.

Portfolio Composition by Market

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

Revenue & Average Rent Per Unit		Stock Price Performance (Since Inception; 4/1/2015)

NXRT.NEXPOINT.COM Page 4

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

Highlights of Second Quarter 2026 Activity

Operating Snapshot
Metric	2Q'26	1Q'26	QoQ	2Q'25	YoY
Same Store Ending Physical Occupancy:	93.6%	93.6%	0.0%	93.3%	0.3%
Same Store Blended Lease Trade-out %:	-1.16%	-1.92%	0.76%	0.90%	-2.07%
Same Store Average Effective Monthly Rent per Unit:	$1,487	$1,482	0.3%	$1,500	-0.9%
Resident Turnover:	44.1%	44.4%	0.3%	46.5%	2.35%
Move-outs to Purchase a Home:	8.7%	7.9%	-0.8%	10.9%	2.2%
Move-outs to Rent a Home:	1.9%	1.9%	0.0%	1.9%	0.0%
Bad Debt as % of Gross Potential Revenue:	0.65%	0.55%	-16.9%	0.5%	-40.2%
Monthly Leasing Cadence
Metric	Apr '26	May '26	Jun '26	Q2 '26	Jul'26
New Lease Trade-out %	-5.4%	-4.8%	-4.6%	-5.0%	-2.3%
Renewal Lease Trade-out %	1.6%	1.7%	2.5%	1.9%	2.2%
Blended Lease Trade-out %	-1.7%	-1.2%	-0.5%	-1.2%	0.3%
Ending Occupancy %	92.6%	93.5%	93.6%	93.6%	93.2%
Ending Leased %	94.6%	95.3%	95.2%	95.2%	94.9%
Resident Retention	54.8%	58.7%	52.6%	55.9%	53.9%
Market-Level Lease Trade-outs: Q2 2026
Market	New Leases	% Change	$ Change	Renewals	% Change	$ Change
Dallas/Fort Worth	229	-7.7%	-$89	198	2.1%	$26
Charlotte	49	-8.0%	-$119	55	0.6%	$9
Nashville	171	-4.0%	-$48	174	1.8%	$22
Atlanta	182	-5.2%	-$68	258	1.1%	$16
Orlando	128	-8.2%	-$119	130	-0.2%	-$2
Tampa	63	-4.4%	-$57	64	0.6%	$8
South Florida	182	-3.2%	-$72	281	1.2%	$25
Phoenix	170	-4.5%	-$64	258	1.0%	$13
Las Vegas	143	-2.4%	-$37	181	7.5%	$105
Raleigh	43	0.8%	$8	85	2.7%	$39
TOTAL	1,360	-5.0%	-$70	1,684	1.9%	$28
Market-Level Lease Trade-outs: July 2026
Market	New Leases	% Change	$ Change	Renewals	% Change	$ Change
Dallas/Fort Worth	52	-1.3%	-$18	74	2.8%	$34
Charlotte	6	-1.2%	-$16	20	1.7%	$24
Nashville	33	-2.2%	-$30	43	1.0%	$13
Atlanta	52	-2.0%	-$26	74	0.4%	$6
Orlando	35	-5.9%	-$89	50	1.3%	$21
Tampa	12	3.2%	$43	10	1.3%	$16
South Florida	39	-3.1%	-$70	83	0.9%	$20
Phoenix	59	-4.1%	-$68	57	1.7%	$26
Las Vegas	26	3.0%	$42	44	8.7%	$124
Raleigh	19	-2.9%	-$47	30	3.4%	$48
TOTAL	333	-2.3%	-$37	485	2.2%	$31
Leasing Data Indicators
Metric	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Jul'26
Leads	31,888	29,317	26,565	31,882	24,703	5,473
Tours	4,757	5,027	3,597	4,270	3,817	826
Self-Guided Tours	902	950	706	798	999	302

NXRT.NEXPOINT.COM Page 5

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

FORECASTED SUBMARKET DELIVERIES (1)

Market	Submarket (RealPage)	Property	NXRT Unit Exposure			2026 Q2 Inventory			2025 Deliveries			2026 Deliveries			2027 Deliveries			2028 Deliveries			3-year Deliveries			3-year % Growth
ATL	Southeast Marietta	Rockledge		708			13,567			-			-			-			-			-		0.0%
ATL	Southeast Marietta	The Preserve at Terrell Mill		752			13,567			-			-			-			-			-		0.0%
ATL	Sandy Springs	The Adair		232			20,363			286			72			1,023			-			1,095		5.4%
CHA	Huntersville/Cornelius	The Verandas at Lake Norman		264			10,229			1,062			1,359			881			238			2,478		24.2%
CHA	Matthews/Southeast Charlotte	Creekside at Matthews		240			13,325			484			226			986			55			1,267		9.5%
DFW	East Fort Worth	The Venue at 8651		333			13,202			-			398			-			-			398		3.0%
DFW	Far North Dallas	Versailles		388			30,136			-			-			-			-			-		0.0%
DFW	Far North Dallas	Versailles II		242			30,136			-			-			-			-			-		0.0%
DFW	Hurst/Euless/Bedford	Arbors on Forest Ridge		210			33,963			526			326			-			-			326		1.0%
DFW	Hurst/Euless/Bedford	Summers Landing		196			33,963			526			326			-			-			326		1.0%
DFW	Oak Lawn/Park Cities	Atera		380			21,575			601			530			295			126			951		4.4%
DFW	Richardson	Cutters Point		196			20,540			223			483			733			168			1,384		6.7%
LSV	Northwest Las Vegas	Bella Solara		320			22,679			516			44			77			266			387		1.7%
LSV	Northwest Las Vegas	Bloom		528			22,679			516			44			77			266			387		1.7%
LSV	Southwest Las Vegas	Torreyana		316			22,838			1,157			1,316			1,148			236			2,700		11.8%
LSV	North Las Vegas	Sedona at Lone Mountain		321			12,672			492			770			281			-			1,051		8.3%
NASH	East Nashville	Residences at Glenview Reserve		360			15,561			852			-			368			141			509		3.3%
NASH	South Nashville	Arbors of Brentwood		346			18,215			264			60			133			-			193		1.1%
NASH	South Nashville	Brandywine		632			18,215			264			60			133			-			193		1.1%
ORL	East Orlando	The Cornerstone		430			22,926			337			297			507			199			1,003		4.4%
ORL	Northwest Orlando	Residences at West Place		342			17,698			465			-			328			-			328		1.9%
ORL	South Orange County	Sabal Palm at Lake Buena Vista		400			36,833			1,858			1,122			1,792			369			3,283		8.9%
PHX	Chandler	Fairways at San Marcos		352			27,337			815			687			328			537			1,552		5.7%
PHX	North Central Phoenix	Heritage		204			27,303			182			380			36			-			416		1.5%
PHX	North Central Phoenix	The Venue on Camelback		415			27,303			182			380			36			-			416		1.5%
PHX	Northeast Phoenix	Bella Vista		248			22,762			112			167			664			530			1,361		6.0%
PHX	South Tempe	Enclave		204			17,055			-			229			-			-			229		1.3%
PHX	Southwest Mesa	Madera Point		256			18,300			129			-			211			161			372		2.0%
PHX	West Phoenix	Estates on Maryland		330			15,625			-			57			-			-			57		0.4%
RDU	Far North Raleigh	Six Forks Station		323			13,707			63			625			688			76			1,389		10.1%
RDU	North Cary/Morrisville	High House at Cary		302			23,978			500			871			366			656			1,893		7.9%
SFL	Pembroke Pines/Miramar	Avant at Pembroke Pines		1,520			25,713			332			-			-			-			-		0.0%
SFL	West Palm Beach	Parc500		217			34,101			343			1,517			-			181			1,698		5.0%
SFL	West Palm Beach	Seasons 704		222			34,101			343			1,517			-			181			1,698		5.0%
TPA	Egypt Lake/Lowry Park	Courtney Cove		324			13,926			245			28			-			-			28		0.2%
TPA	Temple Terrace	The Summit at Sabal Park		252			16,617			202			264			390			-			654		3.9%
Totals/Averages		Total		13,305			602,746			12,046			11,828			11,235			3,939			27,002		4.5%

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

NXRT.NEXPOINT.COM Page 6

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

Financial Summary

		Q2 2026				Q2 2025				YTD 2026				YTD 2025
(in thousands, except for per share and unit data)
Company Profile
Market Capitalization (as of the last day of the period)		$	713,000			$	845,000
Share Price (as of the last day of the period)		$	27.92			$	33.32
Weighted average common shares outstanding - basic			25,517				25,384				25,458				25,416
Weighted average common shares outstanding - diluted			25,517				25,384				25,458				25,416
Earnings Profile
Total revenues		$	64,609			$	63,149			$	128,153			$	126,365
Net loss attributable to common stockholders			(8,611	)			(7,033	)			(15,365	)			(13,930	)
NOI (1)			37,894				38,036				75,531				75,796
Same Store NOI (2)			36,930				38,036				73,633				75,773
Same Store NOI Growth (%) (2)			-2.9	%							-2.8	%
Earnings Metrics Per Common Share (diluted basis)
Earnings		$	(0.34	)		$	(0.28	)		$	(0.60	)		$	(0.55	)
FFO (1)		$	0.60			$	0.67			$	1.28			$	1.34
Core FFO (1)		$	0.66			$	0.71			$	1.34			$	1.45
AFFO (1)		$	0.77			$	0.80			$	1.54			$	1.64
Dividends declared per common share		$	0.53			$	0.51			$	1.06			$	1.02
Net Income (Loss) Coverage (3)		-0.64x				-0.55x				-0.57x				-0.54x
FFO Coverage (3)		1.12x				1.31x				1.21x				1.31x
Core FFO Coverage (3)		1.25x				1.39x				1.26x				1.42x
AFFO Coverage (3)		1.45x				1.57x				1.45x				1.61x
Portfolio
Total Properties			36				35
Total Units (4)			13,305				12,984
Occupancy			93.5	%			93.3	%
Average Effective Monthly Rent per Unit		$	1,490			$	1,500
Same Store Portfolio Metrics (2)
Total Same Store Properties			35				35				35				35
Total Same Store Units			12,984				12,946				12,984				12,946
Occupancy			93.6	%			93.3	%			93.6	%			93.3	%
Average Effective Monthly Rent per Unit		$	1,487			$	1,500			$	1,487			$	1,500
Value-Add Program
Completed Rehab Units			459				555				775				765
Cumulative Completed Rehab Units (5)			10,474
Average Increase to Effective Monthly Rent      per Unit (Post-Rehab)		$	152
ROI on Post-Rehab Units			20.7	%
Outstanding Debt Summary
Total Mortgage Debt		$	1,543,529			$	1,503,242
Total Debt Outstanding		$	1,622,674			$	1,503,242
Leverage Ratio (Total Debt to Market Capitalization plus Total Debt)			69	%			64	%
Leverage Ratio (Net Debt to Enterprise Value) (6)			69	%			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. For additional information regarding our Q2 and YTD Same Store properties, see the “Q2 Same Store Results” and “YTD Same Store Results” section of this release.

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

(4)Total units owned is 13,305, however 1 unit is currently down.

(5)Inclusive of all full and partial interior upgrades completed through June 30, 2026. Cumulative results exclude rehabs completed for properties sold through June 30, 2026.

(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 revising guidance ranges and mid-points for earnings (loss) per diluted share, Core FFO per diluted share, Same Store rental income, Same Store total revenue, Same Store total expenses, and Same Store NOI and reaffirming guidance mid-points for Acquisitions and Dispositions (dollars in millions, except per share amounts):

		Guidance Range (1)
		Low-End				Mid-Point				High-End				Prior Mid-Point
Earnings (loss) per diluted share (1)		$	(1.63	)		$	(1.54	)		$	(1.45	)		$	(1.40	)
Core FFO per diluted share (1) (2)		$	2.35			$	2.45			$	2.54			$	2.57
Same Store Growth: (3)
Rental Income			-1.0	%			-0.3	%			0.3	%			0.9	%
Total Revenue			-0.4	%			0.2	%			0.8	%			1.1	%
Total Expenses			2.8	%			2.1	%			1.4	%			3.5	%
Same Store NOI (2)			-2.5	%			-1.0	%			0.5	%			-0.5	%
Other Considerations: (4)
Acquisitions		$	—			$	100.0			$	200.0			Affirmed
Dispositions		$	—			$	100.0			$	200.0			Affirmed

(1)Weighted average diluted share count estimate for full year 2026 is approximately 25.6 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 income (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 Same Store pool (35 properties).

(4)We continue to evaluate our Portfolio for capital recycling opportunities. Transaction volumes presented are incorporated into the loss 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	%		$	271,994			$	306,997
North Carolina
Raleigh			4.4	%			5.25	%			5.75	%			116,192				131,145
Charlotte			3.9	%			5.25	%			5.75	%			103,498				116,818
Georgia
Atlanta			12.2	%			5.25	%			5.75	%			322,739				364,272
Tennessee
Nashville			8.6	%			5.25	%			5.75	%			225,964				255,043
Florida
Orlando			9.0	%			5.25	%			5.75	%			236,554				266,996
Tampa			3.5	%			5.25	%			5.75	%			91,252				102,996
South Florida			21.0	%			5.25	%			5.75	%			554,830				626,231
Nevada
Las Vegas			11.4	%			5.25	%			5.75	%			301,192				339,952
Arizona
Phoenix			15.8	%			5.25	%			5.75	%			415,813				469,324
Total / Ave			100.0	%			5.25	%			5.75	%		$	2,640,028			$	2,979,774

NOI ESTIMATE

Q1 2026 NOI Actual						37,636
Q2 2026 NOI Actual						37,894
		Low						High
Estimated Q3 2026 NOI Guidance (3)			37,904						39,783
2026 NOI Guidance (3)		$	151,802					$	156,438

NAV SUMMARY

Component		Min								Max
Tangible Assets
Real Estate (2)		$	2,640,028							$	2,979,774
Cash							14,626
Restricted Cash - Renovation Reserves (4)							6,564
Renovation Expenditures (4)							(6,564	)
Cash Adjustments							0
Fair Market Value of Interest Rate Swaps							5,231
Other Assets							67,514
Value of Assets		$	2,727,399							$	3,067,145
Tangible Liabilities
Credit Facility (5)						$	79,145
Mortgage Debt							1,543,529
Total Outstanding Debt							1,622,674
Forward 12-month Principal Payments							0
Total Outstanding Debt (FY 2026 Est.)							1,622,674
Other Tangible Liabilities (at Book)							36,225
Value of Liabilities						$	1,658,899
Net Leverage (mid-point)							57	%
Net Asset Value		$	1,068,500							$	1,408,246
Shares outstanding - diluted (FY 2026 Est.)							26,530
Est. NAV / Share		$	40.28							$	53.08
NAV / Share (mid-point)						$	46.68

IMPLIED VALUATION METRICS

		Min						Max
Implied Real Estate Value		$	2,640,028					$	2,979,774
No. of Units (June 30, 2026) (2)						13,305
Implied Value/Apartment Unit		$	198.4					$	224.0
Implied Value/Apartment Unit (mid-point)					$	211.2

(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 June 30, 2026).

(3)The Company anticipates net loss will be in the range between approximately $41.8 million and $37.2 million for the full year 2026 and between $12.0 million and $10.1 million for the third quarter of 2026. FY 2026 NOI Guidance considers a commensurate volume of capital recycling.

(4)Includes approximately $6.6 million that is held for value-add upgrades; reduced by $6.6 million for estimated 2026 rehab expenditures.

(5)Includes outstanding balance as of June 30, 2026.

NXRT.NEXPOINT.COM Page 9

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

NEXPOINT RESIDENTIAL TRUST, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(in thousands, except share and per share amounts)

		June 30, 2026				December 31, 2025
		(Unaudited)
ASSETS
Operating Real Estate Investments
Land		$	371,656			$	371,656
Buildings and improvements			1,820,655				1,812,311
Intangible lease assets			—				1,052
Construction in progress			7,205				8,535
Furniture, fixtures, and equipment			236,354				224,661
Total Gross Operating Real Estate Investments			2,435,870				2,418,215
Accumulated depreciation and amortization			(651,454	)			(604,321	)
Total Net Operating Real Estate Investments			1,784,416				1,813,894
Cash and cash equivalents			14,626				13,704
Restricted cash			37,971				31,476
Accounts receivable, net (1)			9,353				9,059
Prepaid and other assets (2)			26,754				4,852
Fair market value of interest rate swaps			5,231				13,434
TOTAL ASSETS		$	1,878,351			$	1,886,419
LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities:
Mortgages payable, net		$	1,511,869			$	1,469,410
Credit facility, net			77,627				88,102
Accounts payable and other accrued liabilities			13,159				11,554
Accrued real estate taxes payable			12,688				5,251
Accrued interest payable			6,501				7,053
Security deposit liability			2,819				2,980
Prepaid rents			1,058				1,170
Fair market value of interest rate swaps			—				475
Total Liabilities			1,625,721				1,585,995
Redeemable noncontrolling interests in the OP			4,769				4,928
Stockholders' Equity:
Preferred stock, $0.01 par value: 100,000,000 shares authorized; 0 shares issued			—				—
Common stock, $0.01 par value: 500,000,000 shares authorized; 25,549,813 and 25,364,470 shares issued and outstanding, respectively			256				254
Additional paid-in capital			409,951				406,628
Accumulated earnings less dividends			(166,672	)			(123,409	)
Accumulated other comprehensive income			4,326				12,023
Total Stockholders' Equity			247,861				295,496
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY		$	1,878,351			$	1,886,419

(1)Includes $0.2 million and $0.0 million from a related party as of June 30, 2026 and December 31, 2025, respectively.

(2)Includes $22.1 million and $0.0 million note receivable from a related party as of June 30, 2026 and December 31, 2025, respectively.

NXRT.NEXPOINT.COM Page 10

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

NEXPOINT RESIDENTIAL TRUST, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

AND COMPREHENSIVE LOSS

(in thousands, except per share amounts)

(Unaudited)

		For the Three Months Ended June 30,								For the Six Months Ended June 30,
		2026				2025				2026				2025
Revenues
Rental income		$	61,802			$	61,230			$	122,858			$	122,670
Other income (1)			2,807				1,919				5,295				3,695
Total revenues			64,609				63,149				128,153				126,365
Expenses
Property operating expenses			14,603				12,529				26,946				24,997
Real estate taxes and insurance			8,203				8,485				16,282				17,487
Property management fees (2)			1,828				1,806				3,642				3,626
Advisory and administrative fees (3)			1,798				1,725				3,569				3,421
Corporate general and administrative expenses			4,711				4,499				9,184				8,956
Property general and administrative expenses			2,518				2,143				4,772				4,143
Depreciation and amortization			23,893				24,059				48,184				48,409
Total expenses			57,554				55,246				112,579				111,039
Operating income			7,055				7,903				15,574				15,326
Interest expense			(15,829	)			(15,162	)			(31,271	)			(29,543	)
Casualty loss			—				(5	)			—				(168	)
Equity in earnings of affiliate			105				59				173				114
Miscellaneous income			24				144				98				286
Net loss			(8,645	)			(7,061	)			(15,426	)			(13,985	)
Net loss attributable to redeemable noncontrolling interests in the OP			(34	)			(28	)			(61	)			(55	)
Net loss attributable to common stockholders		$	(8,611	)		$	(7,033	)		$	(15,365	)		$	(13,930	)
Other comprehensive loss
Unrealized losses on interest rate derivatives			(3,991	)			(6,442	)			(7,728	)			(16,614	)
Total comprehensive loss			(12,636	)			(13,503	)			(23,154	)			(30,599	)
Comprehensive loss attributable to redeemable noncontrolling interests in the OP			(50	)			(53	)			(92	)			(120	)
Comprehensive loss attributable to common stockholders		$	(12,586	)		$	(13,450	)		$	(23,062	)		$	(30,479	)
Weighted average common shares outstanding - basic			25,517				25,384				25,458				25,416
Weighted average common shares outstanding - diluted			25,517				25,384				25,458				25,416
Loss per share - basic		$	(0.34	)		$	(0.28	)		$	(0.60	)		$	(0.55	)
Loss per share - diluted		$	(0.34	)		$	(0.28	)		$	(0.60	)		$	(0.55	)

(1)Includes $0.2 million from a related party for the three and six months ended June 30, 2026, and $0.0 million for the three and six months ended June 30, 2025.

(2)Fees incurred to an affiliate of a noncontrolling limited partner of NexPoint Residential Trust Operating Partnership, L.P. (the "OP").

(3)Fees incurred to the Company's adviser.

NXRT.NEXPOINT.COM Page 11

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

NOI and Same Store NOI

The following table, which has not been adjusted for the effects of noncontrolling interests, reconciles NOI and our Same Store NOI for the three and six months ended June 30, 2026 and 2025 to net loss, the most directly comparable GAAP financial measure (in thousands):

		For the Three Months Ended June 30,								For the Six Months Ended June 30,
		2026				2025				2026				2025
Net loss		$	(8,645	)		$	(7,061	)		$	(15,426	)		$	(13,985	)
Adjustments to reconcile net loss to NOI:
Advisory and administrative fees			1,798				1,725				3,569				3,421
Corporate general and administrative expenses			4,711				4,499				9,184				8,956
Corporate income			(765	)			(370	)			(1,355	)			(812	)
Casualty-related expenses/(recoveries)	(1)		90				(792	)			(1,662	)			(1,448	)
Casualty loss			—				5				—				168
Property general and administrative expenses	(2)		1,088				868				1,939				1,658
Depreciation and amortization			23,893				24,059				48,184				48,409
Interest expense			15,829				15,162				31,271				29,543
Equity in earnings of affiliate			(105	)			(59	)			(173	)			(114	)
NOI		$	37,894			$	38,036			$	75,531			$	75,796
Less Non-Same Store
Revenues			(1,443	)			—				(3,000	)			(4	)
Operating expenses			479				—				1,102				(19	)
Same Store NOI		$	36,930			$	38,036			$	73,633			$	75,773

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

(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.

NXRT.NEXPOINT.COM Page 12

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

Q2 Same Store Results of Operations for the Three Months Ended June 30, 2026 and 2025

There are 35 properties encompassing 12,984 units of apartment space, or approximately 98% of our Portfolio, in our same store pool for the three months ended June 30, 2026 and 2025 (our “Q2 Same Store” properties). Our Q2 Same Store properties exclude the following property in our Portfolio as of June 30, 2026: Sedona at Lone Mountain.

As of June 30, 2026, our Q2 Same Store properties were approximately 93.6% leased with a weighted average monthly effective rent per occupied apartment unit of $1,487, year-over-year increase of 30 bps and a decrease of $13, respectively.

The following table reflects the revenues, property operating expenses and NOI for the three months ended June 30, 2026 and 2025 for our Q2 Same Store and Non-Same Store properties (dollars in thousands):

		For the Three Months Ended June 30,
		2026				2025				$ Change				% Change
Revenues
Same Store
Rental income		$	60,400			$	61,230			$	(830	)			-1.4	%
Other income			2,001				1,549				452				29.2	%
Same Store revenues			62,401				62,779				(378	)			-0.6	%
Non-Same Store
Rental income			1,402				—				1,402				0.0	%
Other income			41				—				41				0.0	%
Non-Same Store revenues			1,443				—				1,443				0.0	%
Total revenues			63,844				62,779				1,065				1.7	%
Operating expenses
Same Store
Property operating expenses (1)			14,238				13,321				917				6.9	%
Real estate taxes and insurance			8,081				8,485				(404	)			-4.8	%
Property management fees (2)			1,786				1,806				(20	)			-1.1	%
Property general and administrative expenses (3)			1,390				1,275				115				9.0	%
Same Store operating expenses			25,495				24,887				608				2.4	%
Non-Same Store
Property operating expenses			275				—				275				0.0	%
Real estate taxes and insurance			122				—				122				0.0	%
Property management fees (2)			42				—				42				0.0	%
Property general and administrative expenses (4)			40				—				40				0.0	%
Non-Same Store operating expenses			479				—				479				0.0	%
Total operating expenses			25,974				24,887				1,087				4.4	%
Operating income
Same Store
Miscellaneous income			24				144				(120	)		N/M
Total operating income			24				144				(120	)		N/M
NOI
Same Store			36,930				38,036				(1,106	)			-2.9	%
Non-Same Store			964				—				964				0.0	%
Total NOI (5)		$	37,894			$	38,036			$	(142	)			-0.4	%

(1)For the three months ended June 30, 2026 and 2025, excludes approximately $77,000 and $(792,000), respectively, of casualty-related expenses/(recoveries).

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

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NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

(3)For the three months ended June 30, 2026 and 2025, excludes approximately $1,062,000 and $835,000, 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 June 30, 2026 and 2025, excludes approximately $26,000 and $33,000, 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.

(5)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 Q2 Same Store properties rent and occupancy metrics, revenues, operating expenses and NOI for the three months ended June 30, 2026 and 2025 (dollars in thousands, except for per unit data):

		Q2 2026				Q2 2025				% Change
Same Store Total Units			12,984				12,946
Same Store Occupied Units			12,146				12,075
Same Store Ending Occupancy			93.6	%			93.3	%			0.3	%
Same Store Average Rent per Unit		$	1,487			$	1,500				-0.9	%
Same Store Revenues
Same Store Rental Income		$	60,400			$	61,230				-1.4	%
Same Store Other Income			2,001				1,549				29.2	%
Total Same Store Revenues			62,401				62,779				-0.6	%
Same Store Operating Expenses
Payroll			4,757				4,805				-1.0	%
Repairs & Maintenance			6,456				5,666				13.9	%
Utilities			3,025				2,850				6.1	%
Real Estate Taxes			6,942				7,195				-3.5	%
Insurance			1,139				1,290				-11.7	%
Property Management Fees			1,786				1,806				-1.1	%
Office Operations			934				945				-1.2	%
Marketing			456				330				38.2	%
Total Same Store Operating Expenses			25,495				24,887				2.4	%
Same Store Operating Income
Miscellaneous Income			24				144			N/M
Total Same Store Operating Income			24				144			N/M
Q2 Same Store NOI		$	36,930			$	38,036				-2.9	%

NXRT.NEXPOINT.COM Page 14

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

Q2 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				Q2 2026			Q2 2025			% Change	Q2 2026			Q2 2025			bps ∆			Q2 2026			Q2 2025			% Change
Texas
Dallas			1,945			$	1,207		$	1,235		-2.3%		92.2	%		92.6	%		-40		$	7,486		$	7,848		-4.6%
Average/Total			1,945				1,207			1,235		-2.3%		92.2	%		92.6	%		-40			7,486			7,848		-4.6%
North Carolina
Charlotte			504				1,405			1,390		1.1%		94.8	%		95.2	%		-40			2,304			2,283		0.9%
Raleigh/Durham			625				1,441			1,397		3.1%		94.2	%		93.9	%		30			2,769			2,724		1.7%
Average/Total			1,129				1,425			1,394		2.2%		94.5	%		94.5	%		0			5,073			5,007		1.3%
Georgia
Atlanta			1,692				1,450			1,467		-1.2%		95.0	%		93.7	%		130			7,581			7,615		-0.4%
Average/Total			1,692				1,450			1,467		-1.2%		95.0	%		93.7	%		130			7,581			7,615		-0.4%
Tennessee
Nashville			1,338				1,252			1,265		-1.0%		93.8	%		94.4	%		-60			5,283			5,496		-3.9%
Average/Total			1,338				1,252			1,265		-1.0%		93.8	%		94.4	%		-60			5,283			5,496		-3.9%
Florida
Orlando			1,172				1,526			1,568		-2.7%		94.3	%		93.4	%		90			5,417			5,584		-3.0%
Tampa			576				1,343			1,324		1.4%		93.9	%		92.9	%		100			2,369			2,432		-2.6%
South Florida			1,959				2,145			2,154		-0.4%		94.7	%		94.6	%		10			13,231			13,116		0.9%
Average/Total			3,707				1,825			1,840		-0.8%		94.5	%		94.0	%		50			21,017			21,132		-0.5%
Arizona
Phoenix			2,009				1,395			1,442		-3.3%		91.9	%		91.2	%		70			8,958			9,141		-2.0%
Average/Total			2,009				1,395			1,442		-3.3%		91.9	%		91.2	%		70			8,958			9,141		-2.0%
Nevada
Las Vegas			1,164				1,402			1,356		3.4%		92.4	%		92.5	%		-10			5,002			4,991		0.2%
Average/Total			1,164				1,402			1,356		3.4%		92.4	%		92.5	%		-10			5,002			4,991		0.2%
Average/Total			12,984			$	1,487		$	1,500		-0.9%		93.6	%		93.3	%		30		$	60,400		$	61,230		-1.4%

(1)This table includes the 35 properties in our Q2 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				Q2 2026			Q1 2026			% Change	Q2 2026			Q1 2026			bps ∆			Q2 2026			Q1 2026			% Change
Texas
Dallas			1,945			$	1,207		$	1,207		0.0%		92.2	%		92.0	%		20		$	7,486		$	7,552		-0.9%
Average/Total			1,945				1,207			1,207		0.0%		92.2	%		92.0	%		20			7,486			7,552		-0.9%
North Carolina
Charlotte			504				1,405			1,396		0.6%		94.8	%		93.7	%		110			2,304			2,224		3.6%
Raleigh/Durham			625				1,441			1,431		0.7%		94.2	%		94.1	%		10			2,769			2,710		2.2%
Average/Total			1,129				1,425			1,415		0.7%		94.5	%		93.9	%		60			5,073			4,934		2.8%
Georgia
Atlanta			1,692				1,450			1,450		0.0%		95.0	%		92.6	%		240			7,581			7,436		1.9%
Average/Total			1,692				1,450			1,450		0.0%		95.0	%		92.6	%		240			7,581			7,436		1.9%
Tennessee
Nashville			1,338				1,252			1,244		0.6%		93.8	%		92.6	%		120			5,283			5,257		0.5%
Average/Total			1,338				1,252			1,244		0.6%		93.8	%		92.6	%		120			5,283			5,257		0.5%
Florida
Orlando			1,172				1,526			1,535		-0.6%		94.3	%		92.8	%		150			5,417			5,309		2.0%
Tampa			576				1,343			1,337		0.4%		93.9	%		92.9	%		100			2,369			2,345		1.0%
South Florida			1,959				2,145			2,127		0.8%		94.7	%		95.2	%		-50			13,231			12,794		3.4%
Average/Total			3,707				1,825			1,817		0.4%		94.5	%		94.1	%		40			21,017			20,448		2.8%
Arizona
Phoenix			2,009				1,395			1,395		0.0%		91.9	%		95.1	%		-320			8,958			8,900		0.7%
Average/Total			2,009				1,395			1,395		0.0%		91.9	%		95.1	%		-320			8,958			8,900		0.7%
Nevada
Las Vegas			1,164				1,402			1,378		1.7%		92.4	%		94.5	%		-210			5,002			5,013		-0.2%
Average/Total			1,164				1,402			1,378		1.7%		92.4	%		94.5	%		-210			5,002			5,013		-0.2%
Average/Total			12,984			$	1,487		$	1,482		0.3%		93.6	%		93.6	%	0.0%			$	60,400		$	59,540		1.4%

(1)This table includes the 35 properties in our Q2 Same Store pool.

YTD Same Store Results of Operations for the Six Months Ended June 30, 2026 and 2025

There are 35 properties encompassing 12,984 units of apartment space, or approximately 98% of our Portfolio, in our same store pool for the six months ended June 30, 2026 and 2025 (our “YTD Same Store” properties).

As of June 30, 2026, our YTD Same Store properties were approximately 93.6% leased with a weighted average monthly effective rent per occupied apartment unit of $1,487, year-over-year increase of 30 bps and a decrease of $13, respectively.

NXRT.NEXPOINT.COM Page 16

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

The following table reflects the revenues, property operating expenses and NOI for the six months ended June 30, 2026 and 2025 for our YTD Same Store and Non-Same Store properties (dollars in thousands):

		For the Six Months Ended June 30,
		2026				2025				$ Change				% Change
Revenues
Same Store
Rental income		$	119,943			$	122,666			$	(2,723	)			-2.2	%
Other income			3,855				2,883				972				33.7	%
Same Store revenues			123,798				125,549				(1,751	)			-1.4	%
Non-Same Store
Rental income			2,915				4				2,911			N/M
Other income			85				—				85				0.0	%
Non-Same Store revenues			3,000				4				2,996			N/M
Total revenues			126,798				125,553				1,245				1.0	%
Operating expenses
Same Store
Property operating expenses (1)			28,049				26,443				1,606				6.1	%
Real estate taxes and insurance			15,891				17,510				(1,619	)			-9.2	%
Property management fees (2)			3,559				3,626				(67	)			-1.8	%
Property general and administrative expenses (3)			2,764				2,483				281				11.3	%
Same Store operating expenses			50,263				50,062				201				0.4	%
Non-Same Store
Property operating expenses (4)			559				2				557			N/M
Real estate taxes and insurance			391				(23	)			414			N/M
Property management fees (2)			83				—				83				0.0	%
Property general and administrative expenses (5)			69				2				67			N/M
Non-Same Store operating expenses			1,102				(19	)			1,121			N/M
Total operating expenses			51,365				50,043				1,322				2.6	%
Operating income
Same Store
Miscellaneous income			98				286				(188	)		N/M
Non-Same Store
Miscellaneous income			—				—				—				0.0	%
Total operating income			98				286				(188	)			-65.7	%
NOI
Same Store			73,633				75,773				(2,140	)			-2.8	%
Non-Same Store			1,898				23				1,875			N/M
Total NOI (6)		$	75,531			$	75,796			$	(265	)			-0.3	%

(1)For the six months ended June 30, 2026 and 2025, excludes approximately $172,000 and $(1,449,000), respectively, of casualty-related expenses/(recoveries).

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

(3)For the six months ended June 30, 2026 and 2025, excludes approximately $1,869,000 and $1,626,000, 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 six months ended June 30, 2026 and 2025, excludes approximately $2,000 and $1,000, respectively, of casualty-related expenses.

(5)For the six months ended June 30, 2026 and 2025, excludes approximately $70,000 and $32,000, 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.

NXRT.NEXPOINT.COM Page 17

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

The following table contains additional information about our YTD Same Store properties rent and occupancy metrics, revenues, operating expenses and NOI for the six months ended June 30, 2026 and 2025 (dollars in thousands, except for per unit data):

		YTD 2026				YTD 2025				% Change
Same Store Total Units			12,984				12,946
Same Store Occupied Units			12,146				12,075
Same Store Ending Occupancy			93.6	%			93.3	%			0.3	%
Same Store Average Rent per Unit		$	1,487			$	1,500				-0.9	%
Same Store Revenues
Same Store Rental Income		$	119,943			$	122,666				-2.2	%
Same Store Other Income			3,855				2,883				33.7	%
Total Same Store Revenues			123,798				125,549				-1.4	%
Same Store Operating Expenses
Payroll			9,499				9,756				-2.6	%
Repairs & Maintenance			12,484				10,904				14.5	%
Utilities			6,066				5,783				4.9	%
Real Estate Taxes			13,452				14,523				-7.4	%
Insurance			2,439				2,987				-18.3	%
Property Management Fees			3,559				3,626				-1.8	%
Office Operations			1,849				1,849				0.0	%
Marketing			915				634				44.3	%
Total Same Store Operating Expenses			50,263				50,062				0.4	%
Same Store Operating Income
Miscellaneous Income			98				286				-65.7	%
Total Same Store Operating Income			98				286				-65.7	%
YTD Same Store NOI		$	73,633			$	75,773				-2.8	%

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 loss, the most directly comparable GAAP financial measure, for the three and six months ended June 30, 2026 and 2025 (in thousands, except per share amounts):

		For the Three Months Ended June 30,								For the Six Months Ended June 30,
		2026				2025				2026				2025				% Change
Net loss		$	(8,645	)		$	(7,061	)		$	(15,426	)		$	(13,985	)			-10.3	%
Depreciation and amortization			23,893				24,059				48,184				48,409				-0.5	%
Adjustment for noncontrolling interests			(60	)			(67	)			(129	)			(136	)			5.1	%
FFO attributable to common stockholders			15,188				16,931				32,629				34,288				-4.8	%
FFO per share - basic		$	0.60			$	0.67			$	1.28			$	1.35				-5.2	%
FFO per share - diluted		$	0.60			$	0.67			$	1.28			$	1.34				-4.5	%
Casualty-related expenses/(recoveries)			90				(792	)			(1,662	)			(1,448	)			-14.8	%
Casualty loss			—				5				—				168			N/M
Amortization of deferred financing costs			1,684				1,628				3,367				3,272				2.9	%
Mark-to-market adjustments of interest rate caps			(29	)			187				(127	)			778			N/M
Adjustment for noncontrolling interests			(7	)			(4	)			(6	)			(11	)			45.5	%
Core FFO attributable to common stockholders			16,926				17,955				34,201				37,047				-7.7	%
Core FFO per share - basic		$	0.66			$	0.71			$	1.34			$	1.46				-8.2	%
Core FFO per share - diluted		$	0.66			$	0.71			$	1.34			$	1.45				-7.6	%
Equity-based compensation expense			2,736				2,335				5,098				4,810				6.0	%
Adjustment for noncontrolling interests			(11	)			(9	)			(20	)			(19	)			-5.3	%
AFFO attributable to common stockholders			19,651				20,281				39,279				41,838				-6.1	%
AFFO per share - basic		$	0.77			$	0.80			$	1.54			$	1.65				-6.7	%
AFFO per share - diluted		$	0.77			$	0.80			$	1.54			$	1.64				-6.1	%
Weighted average common shares outstanding - basic			25,517				25,384				25,458				25,416				0.2	%
Weighted average common shares outstanding - diluted	(1)		25,517				25,404				25,491				25,540				-0.2	%
Dividends declared per common share		$	0.53			$	0.51			$	1.06			$	1.02				3.9	%
Net loss Coverage - diluted	(2)	-0.64x				-0.55x				-0.57x				-0.54x					5.0	%
FFO Coverage - diluted	(2)	1.12x				1.31x				1.21x				1.31x					-8.1	%
Core FFO Coverage - diluted	(2)	1.25x				1.39x				1.26x				1.42x					-11.1	%
AFFO Coverage - diluted	(2)	1.45x				1.57x				1.45x				1.61x					-9.6	%

(1)The Company uses diluted weighted average common shares outstanding when in a dilutive position for FFO, Core FFO and AFFO. For periods in which potential common shares are anti‑dilutive, diluted weighted‑average shares outstanding are equal to basic weighted‑average shares outstanding.

(2)Indicates coverage ratio of net loss/FFO/Core FFO/AFFO per common share (diluted) over dividends declared per common share during the period.

NXRT.NEXPOINT.COM Page 19

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

Historical Capital Expenditures

		Q2 2026				Q2 2025				% Change				YTD 2026				YTD 2025				% Change
($ in thousands)
Capitalized Rehab Expenditures
Interior		$	1,626			$	1,329				22.3	%		$	2,855			$	1,980				44.2	%
Exterior and common area			878				91				865.4	%			1,274				149				755.1	%
Capitalized Maintenance Expenditures
Recurring			4,624				3,247				42.4	%			8,014				6,044				32.6	%
Non-Recurring			4,233				4,532				-6.6	%			6,132				6,818				-10.1	%
Total Capital Expenditures		$	11,361			$	9,199				23.5	%		$	18,275			$	14,991				21.9	%

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				210			$	1,200			$	1,392			$	9,228				16.0	%			25.0	%
Arbors on Forest Ridge			210				212				784				874				4,012				11.4	%			26.8	%
Atera Apartments			380				295				1,167				1,295				3,095				11.0	%			49.9	%
Avant at Pembroke Pines			1,520				919				1,823				2,053				15,761				12.6	%			17.5	%
Bella Solara			320				164				1,230				1,360				9,120				10.6	%			17.2	%
Bella Vista			248				221				1,456				1,592				10,084				9.3	%			16.2	%
Bloom			528				196				1,232				1,367				11,591				10.9	%			14.0	%
Brandywine I & II			632				679				1,007				1,186				10,272				17.7	%			20.8	%
Courtney Cove			324				369				958				1,052				4,331				9.8	%			26.0	%
Creekside at Matthews			240				124				1,332				1,503				8,727				12.9	%			23.6	%
Cutter's Point			196				203				940				1,042				5,502				10.9	%			22.3	%
Estates on Maryland			330				158				1,237				1,385				10,291				12.0	%			17.3	%
Fairways of San Marcos			352				210				1,435				1,574				9,916				9.7	%			16.9	%
High House at Cary			302				176				1,327				1,536				10,615				15.8	%			23.6	%
Madera Point			256				297				906				1,009				4,225				11.4	%			29.3	%
Parc500			217				289				1,353				1,507				11,824				11.4	%			15.6	%
Residences at Glenview Reserve			360				346				1,074				1,294				12,742				20.5	%			20.7	%
Residences at West Place			342				221				1,501				1,686				11,351				12.3	%			19.6	%
Rockledge Apartments			708				635				1,249				1,406				8,557				12.5	%			22.0	%
Sabal Palm at Lake Buena Vista			400				205				1,419				1,547				7,657				9.1	%			20.1	%
Sedona at Lone Mountain			321				12				1,047				1,061				1,889				1.4	%			9.0	%
Seasons 704 Apartments			222				276				1,242				1,363				7,003				9.8	%			20.8	%
Six Forks Station			323				169				1,116				1,376				11,394				23.4	%			27.5	%
Summers Landing			196				91				1,021				1,185				8,284				16.0	%			23.6	%
Summit at Sabal Park			252				270				1,012				1,105				5,339				9.2	%			20.9	%
The Adair			232				181				1,727				1,995				11,239				15.5	%			28.6	%
The Cornerstone			430				588				1,047				1,140				4,627				8.9	%			24.1	%
The Enclave			204				198				1,442				1,606				9,290				11.4	%			21.2	%
The Heritage			204				199				1,363				1,486				8,816				9.0	%			16.7	%
The Preserve at Terrell Mill			752				904				881				1,042				10,027				18.2	%			19.2	%
The Verandas at Lake Norman			264				118				1,228				1,376				9,266				12.1	%			19.2	%
The Venue on Camelback			415				326				769				1,004				9,693				30.6	%			29.1	%
Torreyana Apartments			316				73				1,370				1,474				10,594				7.6	%			11.8	%
Venue at 8651			333				352				860				958				6,174				11.4	%			19.0	%
Versailles			388				441				813				892				4,799				9.7	%			19.7	%
Versailles II			242				147				835				910				3,499				8.9	%			25.5	%
Total/Weighted Average			13,305				10,474			$	1,165			$	1,317			$	8,807				13.1	%			20.7	%

(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 June 30, 2026.

(3)Inclusive of all full and partial interior upgrades completed and leased through June 30, 2026.

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				320			$	874			$	50				68.6	%
Arbors on Forest Ridge			210				136				787				47				71.4	%
Atera Apartments			380				369				813				40				59.7	%
Avant at Pembroke Pines			1,520				623				1,281				52				48.7	%
Brandywine I & II			632				236				1,112				73				78.3	%
Creekside at Matthews			240				183				1,103				56				60.4	%
Cutter's Point			196				156				806				47				69.4	%
Estates on Maryland			330				21				1,067				38				42.3	%
Madera Point			256				158				893				31				41.3	%
Residences at Glenview Reserve			360				112				1,261				55				52.3	%
Rockledge Apartments			708				630				826				40				58.1	%
Sabal Palm at Lake Buena Vista			400				634				599				86				171.8	%
Six Forks Station			323				199				1,088				55				60.7	%
Summers Landing			196				113				897				58				77.7	%
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				222				1,085				47				51.5	%
Venue at 8651			333				273				780				47				72.4	%
Versailles			388				324				887				49				66.5	%
Versailles II			242				144				898				30				39.8	%
Total/Weighted Average			8,238				5,130			$	962			$	51				63.4	%

(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 June 30, 2026.

(3)Inclusive of all kitchen and laundry appliance upgrades completed and leased through June 30, 2026.

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	%
High 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
Sedona at Lone Mountain			321				—			TBD				TBD				TBD
Summit at Sabal Park			252				—			TBD				TBD				TBD
The Preserve at Terrell Mill			752				—			TBD				TBD				TBD
Total/Weighted Average Planned			1,889				—			TBD				TBD				TBD

(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 June 30, 2026.

(3)Inclusive of all smart home technology package upgrades completed and leased through June 30, 2026.

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 June 30, 2026 (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				4.72%		10/1/2031
Avant at Pembroke Pines		Floating			84				248,185				4.72%		10/1/2031
Bella Vista		Floating			84				37,400				4.72%		10/1/2031
Brandywine I & II		Floating			84				59,526				4.72%		10/1/2031
Cornerstone		Floating			84				45,815				4.72%		10/1/2031
Estates on Maryland		Floating			84				37,345				4.72%		10/1/2031
High House at Cary		Floating			84				32,478				4.72%		10/1/2031
Residences at Glenview Reserve		Floating			84				33,271				4.72%		10/1/2031
Sabal Palm at Lake Buena Vista		Floating			84				56,220				4.72%		10/1/2031
Six Forks Station		Floating			84				30,430				4.72%		10/1/2031
Summers Landing		Floating			84				14,135				4.72%		10/1/2031
The Adair		Floating			84				33,229				4.72%		10/1/2031
The Enclave		Floating			84				33,440				4.72%		10/1/2031
The Heritage		Floating			84				29,810				4.72%		10/1/2031
The Venue on Camelback		Floating			84				36,465				4.72%		10/1/2031
The Verandas at Lake Norman		Floating			84				30,113				4.72%		10/1/2031
Versailles II		Floating			84				15,706				4.72%		10/1/2031
Arbors on Forest Ridge		Floating			84				17,307				4.72%		12/1/2031
Atera Apartments		Floating			84				38,555				4.72%		12/1/2031
Bella Solara		Floating			84				37,772				4.72%		12/1/2031
Bloom		Floating			84				60,848				4.72%		12/1/2031
Courtney Cove		Floating			84				31,596				4.72%		12/1/2031
Creekside at Matthews		Floating			84				28,703				4.72%		12/1/2031
Cutter's Point		Floating			84				18,994				4.72%		12/1/2031
Fairways at San Marcos		Floating			84				55,056				4.72%		12/1/2031
Madera Point		Floating			84				29,676				4.72%		12/1/2031
Parc500		Floating			84				30,012				4.72%		12/1/2031
Rockledge Apartments		Floating			84				78,444				4.72%		12/1/2031
Seasons 704 Apartments		Floating			84				33,960				4.72%		12/1/2031
The Preserve at Terrell Mill		Floating			84				74,341				4.72%		12/1/2031
The Summit at Sabal Park		Floating			84				26,735				4.72%		12/1/2031
Torreyana Apartments		Floating			84				43,153				4.72%		12/1/2031
Venue at 8651		Floating			84				24,620				4.72%		12/1/2031
Versailles		Floating			84				26,108				4.72%		12/1/2031
Sedona at Lone Mountain		Floating			84				40,287				4.86%		2/1/2033
									1,543,529
Fair market value adjustment									238		(2)
Deferred financing costs, net of accumulated amortization of $9,966									(31,898	)
								$	1,511,869

(1)Interest rate is based on a reference rate plus an applicable margin, except for fixed rate mortgage debt. The reference rate used in our Portfolio is 30-Day Average Secured Overnight Financing Rate ("SOFR"). As of June 30, 2026, SOFR was 3.63%.

(2)The Company reflected a valuation adjustment on its fixed rate debt for Residences at West Place to adjust it to fair market value on its respective date of acquisition for the difference between the fair value and the assumed principal amount of debt. The difference is amortized into interest expense over the remaining term of the mortgage.

NXRT.NEXPOINT.COM Page 24

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

Interest Rate Swap Agreements

As of June 30, 2026, the Company had the following outstanding interest rate swaps that were designated as cash flow hedges of interest rate risk (dollars in thousands):

Effective Date		Termination Date		Counterparty		Notional Amount				Fixed Rate (1)
September 1, 2019		September 1, 2026		KeyBank		$	100,000				1.462	%
September 1, 2019		September 1, 2026		KeyBank			125,000				1.302	%
January 3, 2020		September 1, 2026		KeyBank			92,500				1.609	%
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	%
						$	817,500				1.427	%	(2)

(1)The floating rate option for the interest rate swaps is SOFR plus 0.11448% (“Adjusted SOFR”) other than for the J.P. Morgan Chase Bank, N.A. ("JPM") swap which is based on SOFR. As of June 30, 2026, Adjusted SOFR and SOFR were 3.75% and 3.63%, 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 June 30, 2026, Adjusted SOFR was 3.75%.

NXRT.NEXPOINT.COM Page 25

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

Interest Rate Cap Agreements

As of June 30, 2026, the Company had the following interest rate caps outstanding that were not designated as cash flow hedges of interest rate risk (dollars in thousands):

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

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 June 30, 2026 for the next five calendar years subsequent to June 30, 2026 and thereafter. We used the applicable reference rate as of June 30, 2026 to calculate interest expense due by period on our floating rate debt and net interest expense due by period on our interest rate swaps.

			Payments Due by Period (in thousands)
			Total				Remainder of 2026				2027				2028				2029				2030				Thereafter
Operating Properties Mortgage Debt
Principal payments			$	1,543,529			$	—			$	—			$	33,817			$	—			$	—			$	1,509,712
Interest expense	(1)			403,664				34,294				79,566				76,542				73,910				74,515				64,837
Total			$	1,947,193			$	34,294			$	79,566			$	110,359			$	73,910			$	74,515			$	1,574,549
Credit Facility
Principal payments			$	79,145			$	—			$	—			$	79,145			$	—			$	—			$	—
Interest expense				9,918				2,460				5,027				2,431				—				—				—
Total			$	89,063			$	2,460			$	5,027			$	81,576			$	—			$	—			$	—
Total contractual obligations and commitments			$	2,036,256			$	36,754			$	84,593			$	191,935			$	73,910			$	74,515			$	1,574,549

(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 June 30, 2026, we had entered into 6 interest rate swap transactions with a combined notional amount of $0.8 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 $0.9 billion notional amount of interest rate swaps to ‘Operating Properties Mortgage Debt.’ We used the applicable reference rate as of June 30, 2026 to determine our expected settlements through the terms of the interest rate swaps.

(1)As of June 30, 2026, we had total indebtedness of $1.6 billion at an adjusted weighted average interest rate of 3.58% of which $1.6 billion was debt with a floating interest rate. As of June 30, 2026, the interest rate swap agreements we have entered into effectively fix the interest rate on 54% 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 1.43% for the floating interest rate on the $0.8 billion notional amount of interest rate swap agreements that we have entered into as of June 30, 2026, which effectively fix the interest rate on the combined $0.8 billion of our floating rate mortgage debt outstanding.

(2)Debt maturity schedule as of June 30, 2026.

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				90,434
The Summit at Sabal Park		Tampa, FL			252			8/20/2014			19,050				1,867				20,917				83,004
Courtney Cove		Tampa, FL			324			8/20/2014			18,950				1,819				20,769				64,102
Sabal Palm at Lake Buena Vista		Orlando, FL			400			11/5/2014			49,500				11,347				60,847				152,118
Cornerstone		Orlando, FL			430			1/15/2015			31,550				2,802				34,352				79,888
The Preserve at Terrell Mill		Marietta, GA			752			2/6/2015			58,000				16,313				74,313				98,820
Versailles		Dallas, TX			388			2/26/2015			26,165				4,674				30,839				79,482
Seasons 704 Apartments		West Palm Beach, FL			222			4/15/2015			21,000				2,026				23,026				103,721
Madera Point		Mesa, AZ			256			8/5/2015			22,525				1,932				24,457				95,535
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				126,885
The Venue on Camelback		Phoenix, AZ			415			10/11/2016			44,600				6,202				50,802				122,414
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				208,887
The Enclave		Tempe, AZ			204			1/28/2019			41,800				2,613				44,413				217,711
The Heritage		Phoenix, AZ			204			1/28/2019			41,900				2,660				44,560				218,431
Summers Landing		Fort Worth, TX			196			6/7/2019			19,396				2,997				22,393				114,250
Residences at Glenview Reserve		Nashville, TN			360			7/17/2019			45,000				6,079				51,079				141,886
Residences at West Place		Orlando, FL			342			7/17/2019			55,000				4,505				59,505				173,991
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				192,191
Torreyana Apartments		Las Vegas, NV			316			11/22/2019			68,000				2,771				70,771				223,959
Bloom		Las Vegas, NV			528			11/22/2019			106,500				4,786				111,286				210,769
Bella Solara		Las Vegas, NV			320			11/22/2019			66,500				3,642				70,142				219,194
Fairways at San Marcos		Chandler, AZ			352			11/2/2020			84,480				4,366				88,846				252,403
The Verandas at Lake Norman		Cornelius, NC			264			6/30/2021			63,500				4,812				68,312				258,758
Creekside at Matthews		Matthews, NC			240			6/30/2021			58,000				4,128				62,128				258,867
Six Forks Station		Raleigh, NC			323			9/10/2021			74,760				6,431				81,191				251,365
High House at Cary		Cary, NC			302			12/7/2021			93,250				5,247				98,497				326,149
The Adair		Sandy Springs, GA			232			4/1/2022			65,500				5,390				70,890				305,560
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				250,717
Total/Weighted Average					13,305					$	2,106,227			$	215,048			$	2,321,275			$	174,466

(1)Only includes properties owned as of June 30, 2026.

(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 a non-GAAP financial measure of performance. 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 as 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) corporate income and corporate general and administrative expenses that are not reflective of operations of the properties, (5) casualty-related expenses/(recoveries) and casualty loss, (6) 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 (7) equity in earnings of affiliate. We define “Same Store NOI” as NOI for our properties that are comparable between periods. We view Same Store NOI as an important measure of the operating performance of our properties because it allows us to compare operating results of properties owned for the entirety of the current and comparable periods and therefore eliminates variations caused by acquisitions or dispositions during the periods.

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

Core FFO makes certain adjustments to FFO, which are not representative of the ongoing operating performance of our Portfolio. Core FFO adjusts FFO to remove items such as loss on extinguishment of debt and modification costs, casualty-related expenses/(recoveries) and loss (gain), the amortization of deferred financing costs, mark-to-market gains or losses related to interest rate cap agreements not designated as hedges for accounting purposes, and the noncontrolling interests (as described above) related to these items.

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)		Q2 2026				Q2 2025
Total mortgage debt		$	1,543,529			$	1,503,242
Total credit facility			79,145				—
Total debt outstanding			1,622,674				1,503,242
Adjustments to arrive at net debt:
Cash and cash equivalents			(14,626	)			(13,623	)
Restricted cash held for value-add upgrades and green improvements			(6,564	)			(3,320	)
Net Debt		$	1,601,484			$	1,486,299
Enterprise Value (1)		$	2,314,484			$	2,331,299
Leverage Ratio (Total Debt to Market Capitalization plus Total Debt)			69	%			64	%
Leverage Ratio (Net Debt to Enterprise Value)			69	%			64	%

(1)Enterprise Value is calculated as Market Capitalization 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 net loss (the most directly comparable GAAP financial measure) guidance for the periods presented below (in thousands):

		For the Year Ended December 31, 2026				For the Three Months Ended September 30, 2026
		Mid-Point (1)				Mid-Point (1)
Net loss		$	(39,517	)		$	(11,015	)
Adjustments to reconcile net loss to NOI:
Advisory and administrative fees			7,197				1,813
Corporate general and administrative expenses			19,039				4,928
Corporate income			(3,267	)			(978	)
Property general and administrative expenses	(2)		4,009				1,003
Depreciation and amortization			97,423				24,888
Interest expense			71,246				18,285
Casualty-related recoveries			(1,677	)			—
Equity in earnings of affiliate			(333	)			(80	)
NOI		$	154,120			$	38,844
Less Non-Same Store
Revenues	(3)		(6,229	)
Operating expenses	(3)		2,175
Same Store NOI	(3)	$	150,066

(1)Mid-Point estimates shown for full year and third quarter 2026 guidance. Assumptions made for full year and third 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 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 YTD Same Store properties and Non-Same Store properties. There are 35 properties in our YTD Same Store pool.

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		$	(39,517	)
Depreciation and amortization			97,423
Adjustment for noncontrolling interests			(229	)
FFO attributable to common stockholders			57,677
FFO per share - diluted (1)		$	2.25
Casualty-related recoveries			(1,677	)
Amortization of deferred financing costs			6,585
Mark-to-market adjustments of interest rate caps			23
Adjustment for noncontrolling interests			(19	)
Core FFO attributable to common stockholders			62,589
Core FFO per share - diluted (1)		$	2.45
Equity-based compensation expense			10,722
Adjustment for noncontrolling interests			(42	)
AFFO attributable to common stockholders			73,269
AFFO per share - diluted (1)		$	2.86
Weighted average common shares outstanding - diluted			25,593

(1)For purposes of calculating per share data, we assume a weighted average diluted share count of approximately 25.6 million for the full year 2026.

NOI

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

		For the Three Months Ended March 31, 2026				For the Year Ended December 31, 2025
Net loss		$	(6,781	)		$	(32,154	)
Adjustments to reconcile net loss to NOI:
Advisory and administrative fees			1,771				6,941
Corporate general and administrative expenses			4,473				17,945
Corporate income			(590	)			(1,666	)
Casualty-related expenses	(1)		(1,753	)			264
Casualty loss			—				167
Property general and administrative expenses	(2)		851				4,010
Depreciation and amortization			24,291				95,752
Interest expense			15,442				60,735
Equity in earnings of affiliate			(68	)			(257	)
NOI		$	37,636			$	151,737

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

(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.

NXRT.NEXPOINT.COM Page 32

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

The following table, reconciles FFO, Core FFO and AFFO for the three months ended March 31, 2026 and the year ended December 31, 2025 to net loss, the most directly comparable GAAP financial measure (in thousands):

		For the Three Months Ended March 31, 2026				For the Year Ended December 31, 2025
Net loss		$	(6,781	)		$	(32,154	)
Depreciation and amortization			24,291				95,752
Adjustment for noncontrolling interests			(69	)			(251	)
FFO attributable to common stockholders			17,441				63,347
FFO per share - basic		$	0.69			$	2.49
FFO per share - diluted		$	0.69			$	2.48
Casualty-related expenses (recoveries)			(1,753	)			264
Casualty losses			—				167
Amortization of deferred financing costs			1,683				6,585
Mark-to-market adjustments of interest rate caps			(98	)			961
Adjustment for noncontrolling interests			1				(31	)
Core FFO attributable to common stockholders			17,274				71,293
Core FFO per share - basic		$	0.68			$	2.81
Core FFO per share - diluted		$	0.68			$	2.79
Equity-based compensation expense			2,362				9,883
Adjustment for noncontrolling interests			(9	)			(39	)
AFFO attributable to common stockholders			19,627				81,137
AFFO per share - basic		$	0.77			$	3.20
AFFO per share - diluted		$	0.77			$	3.18
Weighted average common shares outstanding - basic			25,398				25,390
Weighted average common shares outstanding - diluted	(1)		25,398				25,554
Dividends declared per common share		$	0.53			$	2.06
Net income (loss) Coverage - diluted	(2)	-0.51x				-0.61x
FFO Coverage - diluted	(2)	1.30x				1.20x
Core FFO Coverage - diluted	(2)	1.28x				1.35x
AFFO Coverage - diluted	(2)	1.46x				1.54x

(1)The Company uses diluted weighted average common shares outstanding when in a dilutive position for FFO, Core FFO and AFFO. For periods in which potential common shares are anti‑dilutive, diluted weighted‑average shares outstanding are equal to basic weighted‑average shares outstanding.

(2)Indicates coverage ratio of net loss/FFO/Core FFO/AFFO per common share (diluted) over dividends declared per common share during the period.

NXRT.NEXPOINT.COM Page 33

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