NexPoint Residential Q3 net loss widens to $11.5M

NXRT's revised 2026 outlook puts the Core FFO midpoint at $2.22 per diluted share and same-store NOI growth at -4.3%.

Available on EDGAR 11/03/2026 - 08:33 AM EST Accepted by SEC EDGAR 11/03/2026 - 08:32 AM EST Learn about SEC filing dates

Rhea-AI Filing Summary

NexPoint Residential Trust, Inc. (NXRT) reported third-quarter 2026 revenue of $64.5 million, compared with $62.8 million a year earlier, while net loss attributable to common stockholders was $11.5 million versus $7.8 million. Same-store NOI fell 8.2% to $35.6 million, and same-store operating expenses rose 11.2% as same-store revenue declined 0.7%. Core FFO was $13.4 million, or $0.52 per diluted share, compared with $17.7 million, or $0.70, in Q3 2025.

NXRT revised its 2026 guidance midpoint for Core FFO to $2.22 per diluted share from $2.45; the same-store NOI growth midpoint is -4.3%, versus a prior midpoint of -1.0%. The earnings-loss-per-share midpoint is a loss of $1.68, versus a prior midpoint loss of $1.54. After quarter-end, NXRT acquired Midtown Crossing in Raleigh for $32.0 million and drew $33.0 million under its revolving credit facility; aggregate principal outstanding under the facility was $112.1 million as of October 1, 2026. The company also authorized repurchases at an aggregate market value of up to $150.0 million during a two-year period ending October 26, 2028.

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1 major · 3 points

Hollow bars mark forward-looking points. How the balance works

Positive

• None.

Negative

• Major point. Forward-looking: it has not happened yet and may not happen.Core FFO guidance midpoint fell to $2.22 per diluted share from $2.45.
• Moderate pointSame-store NOI fell 8.2% in Q3 2026.
• Moderate pointNet loss was $11.5 million, versus $7.8 million in Q3 2025.

Filing Explained

NXRT’s board approved a $0.53-per-share quarterly dividend on October 26, 2026, payable December 31, 2026 to holders of record on December 15, 2026; the filing reports an approved distribution, not a completed payment.

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, or exhibit attachments filed with this report.

Key Figures

Total revenue: $64.5 million Net loss attributable to common stockholders: $11.5 million loss Same-store NOI: $35.6 million +4 more

7 metrics

Total revenue $64.5 million Third quarter 2026; $62.8 million in Q3 2025

Net loss attributable to common stockholders $11.5 million loss Third quarter 2026; $7.8 million loss in Q3 2025

Same-store NOI $35.6 million Third quarter 2026; decreased 8.2% from $38.8 million in Q3 2025

Core FFO per diluted share $0.52 per diluted share Third quarter 2026; $0.70 in Q3 2025

2026 Core FFO guidance midpoint $2.22 per diluted share Revised midpoint; prior midpoint was $2.45

Midtown Crossing purchase price $32.0 million Acquired October 2, 2026; 228 units

Repurchase authorization Up to $150.0 million aggregate market value Two-year period ending October 26, 2028

Key Terms

Core FFO, NOI, Same Store, revolving credit facility, +1 more

5 terms

Core FFO financial

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

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.

NOI financial

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

Net operating income (NOI) is the total profit a business makes from its core operations, after subtracting expenses directly related to running the business but before accounting for taxes, interest, or investments. It shows how well the company’s main activities generate earnings and helps investors assess its financial health and profitability without the influence of external factors. Think of it as the money a store earns from sales minus the costs to keep it open.

Same Store financial

"We define “Same Store” properties as properties that were in our Portfolio"

Same store describes sales or revenue measured only at locations or outlets that have been open for a specified prior period, excluding new openings and closed units so performance is compared on an “apples-to-apples” basis. Investors use same-store figures to see whether existing operations are growing or shrinking on their own, like checking whether a long-standing shop is selling more or fewer items this year without the distortion of added or removed stores.

revolving credit facility financial

"drew $33.0 million under the Company's revolving credit facility"

A revolving credit facility is a type of loan that a business can borrow from whenever it needs money, up to a set limit. It’s like having a credit card for companies—allowing them to borrow, pay back, and borrow again as needed, providing flexibility for managing cash flow or funding short-term expenses.

Return on Investment financial

"We define Return on Investment (“ROI”) as the sum of the actual rent premium"

Return on investment measures the gain or loss you get from putting money into something, expressed as a percentage of the original cost. It matters to investors because it shows how efficiently capital is being used—like comparing how much fruit different trees produce per seed planted—helping decide which opportunities deliver more reward for each dollar and whether results beat expectations or benchmarks.

Earnings Snapshot

Total revenues: $64.5 million · Guidance included

Third quarter ended September 30, 2026

Total revenues $64.5 million Compared with $62.8 million in Q3 2025

Net loss attributable to common stockholders $11.5 million loss Compared with $7.8 million loss in Q3 2025

Same Store NOI $35.6 million Decreased 8.2% from $38.8 million in Q3 2025

Core FFO $13.4 million Compared with $17.7 million in Q3 2025

Core FFO per diluted share $0.52 per diluted share Compared with $0.70 in Q3 2025

Guidance

Revised 2026 midpoint: earnings loss of $1.68 per diluted share and Core FFO of $2.22 per diluted share; prior midpoints were a loss of $1.54 and Core FFO of $2.45, respectively. Same Store NOI growth midpoint is -4.3%, versus a prior midpoint of -1.0%.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were NXRT's third-quarter 2026 results?

NexPoint Residential Trust reported Q3 2026 revenue of $64.5 million, compared with $62.8 million in Q3 2025. Net loss attributable to common stockholders was $11.5 million, versus $7.8 million, and same-store NOI decreased 8.2% to $35.6 million.

What is NXRT's revised 2026 Core FFO guidance?

NXRT's revised 2026 Core FFO guidance is $2.17 to $2.27 per diluted share, with a $2.22 midpoint, compared with the prior midpoint of $2.45. The revised midpoint for earnings loss per diluted share is a loss of $1.68, compared with a prior midpoint loss of $1.54; the same-store NOI growth midpoint is -4.3%.

What property did NXRT acquire after the third quarter?

NXRT acquired Midtown Crossing in Raleigh, North Carolina, on October 2, 2026, for $32.0 million. The property has 228 units and 100% effective ownership.

When will NXRT pay its next dividend?

NXRT approved a quarterly dividend of $0.53 per share, payable on December 31, 2026, to stockholders of record on December 15, 2026.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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false000162039300016203932026-11-032026-11-03

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): November 3, 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 November 3, 2026, NexPoint Residential Trust, Inc. (the “Company”) announced financial results for the Company’s third quarter ended September 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 November 3, 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: November 3, 2026

Exhibit 99.1

3 November 2026 | NYSE: NXRT

EARNINGS SUPPLEMENT: THIRD QUARTER 2026

NEXPOINT RESIDENTIAL TRUST, INC.

300 CRESCENT COURT, SUITE 700

DALLAS, TX 75201

INVESTOR RELATIONS:

KRISTEN GRIFFITH

NXRT.NEXPOINT.COM

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

TABLE OF CONTENTS

Earnings Release		1
Cautionary Statement Regarding Forward-Looking Statements		3
Overview		4
Highlights of Recent Activity		5
Financial Summary		7
2026 Full Year Guidance		8
Components of Net Asset Value		9
Consolidated Balance Sheets		10
Consolidated Statements of Operations		11
NOI and Same Store NOI		12
Q3 Same Store Results		13
Q3 Same Store Properties Operating Metrics		15
QoQ Same Store Properties Operating Metrics		16
YTD Same Store Results		16
FFO, Core FFO and AFFO		19
Historical Capital Expenditures		20
Value-Add Program Details		21
Outstanding Debt Details		24
Debt Maturity Schedule		26
Historical Acquisition Details		27
Historical Disposition Details		28
Definitions and Reconciliations of Non-GAAP Measures		29

Sedona at Lone Mountain: Las Vegas, NV

Newly renovated Leasing office

Refreshed Fitness center

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 THIRD QUARTER 2026 RESULTS

NXRT Reports Third Quarter 2026 Results and Resets Full-Year Same-Store NOI Guidance

Dallas, TX, November 3, 2026 – NexPoint Residential Trust, Inc. (NYSE:NXRT) reported financial results for the third quarter ended September 30, 2026.

Highlights

•NXRT1 reported net loss, FFO2, Core FFO2 and AFFO2 of $11.5M, $11.7M, $13.4M and $16.2M, respectively, attributable to common stockholders for the quarter ended September 30, 2026, compared to net loss, FFO, Core FFO, and AFFO of $7.8M, $15.9M, $17.7M and $20.2M, respectively, attributable to common stockholders for the quarter ended September 30, 2025.

•NXRT reported net loss, FFO, Core FFO and AFFO of $26.9M, $44.3M, $47.6M and $55.4M, respectively, attributable to common stockholders for the nine months ended September 30, 2026, compared to net loss, FFO, Core FFO, and AFFO of $21.8M, $50.2M, $54.8M and $62.1M, respectively, attributable to common stockholders for the nine months ended September 30, 2025.

•For the three months ended September 30, 2026, Q3 Same Store properties3, occupancy decreased 70 bps, total revenue decreased 0.7%, and average effective rent and NOI2 decreased 0.7% and 8.2% over the prior year period.

•For the nine months ended September 30, 2026, YTD Same Store properties3, occupancy decreased 70 bps, total revenue and NOI2 decreased 1.2% and 4.6%, respectively, and average effective rent decreased 0.7% over the prior year period.

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

•The weighted average effective monthly rent per unit across all 36 properties held as of September 30, 2026 (the “Portfolio”), consisting of 13,3054 units, was $1,489, while physical occupancy was 92.8%.

•During the third quarter 2026, for the properties in the Portfolio, we completed 708 full and partial upgrades and leased 425 upgraded units, achieving an average monthly rent premium of $42.54 and a 21.1% ROI5.

•Since inception, for the properties currently in the Portfolio, we have completed 11,010 full and partial upgrades, 5,302 kitchen and laundry appliances, and 11,520 technology packages, resulting in a $147, $51, and $43 average monthly rental increase per unit and a 20.7%, 62.7%, 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 12,980 units of apartment space in our Same Store pool for the three months ended September 30, 2026 (our “Q3 Same Store” properties) and 35 properties encompassing 12,980 units of apartment space in our Same Store pool for the nine months ended September 30, 2026 (our “YTD Same Store” properties). The same store unit count excludes 4 units that are currently down (Residences at West Place: 3 units, Venue at 8651: 1 unit).

4)Total units owned in our Portfolio is 13,305, however 4 units are currently down (Residences at West Place: 3 units, Venue at 8651: 1 unit).

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

Third Quarter 2026 Financial Results

•Total revenues were $64.5 million for the third quarter of 2026, compared to $62.8 million for the third quarter of 2025.

•Net loss attributable to common stockholders for the third quarter of 2026 totaled $11.5 million, or loss of $0.45 per diluted share, which included $23.2 million of depreciation and amortization expense. This compared to net loss attributable to common stockholders of $7.8 million, or loss of $0.31 per diluted share, for the third quarter of 2025, which included $23.8 million of depreciation and amortization expense.

NXRT.NEXPOINT.COM Page 1

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

•The change in our net loss of $11.5 million for the three months ended September 30, 2026 as compared to our net loss of $7.8 million for the three months ended September 30, 2025 primarily relates to an increase in property operating expenses and interest expense of $2.0 million and $2.6 million, respectively, offset by an increase in total revenues of $1.6 million.

•For the third quarter of 2026, NOI was $36.6 million on 36 properties, compared to $38.8 million for the third quarter of 2025 on 35 properties.

•For the third quarter of 2026, Q3 Same Store NOI decreased 8.2% to $35.6 million, compared to $38.8 million for the third quarter of 2025.

•For the third quarter of 2026, FFO totaled $11.7 million, or $0.46 per diluted share, compared to $15.9 million, or $0.63 per diluted share, for the third quarter of 2025.

•For the third quarter of 2026, Core FFO totaled $13.4 million, or $0.52 per diluted share, compared to $17.7 million, or $0.70 per diluted share, for the third quarter of 2025.

•For the third quarter of 2026, AFFO totaled $16.2 million, or $0.63 per diluted share, compared to $20.2 million, or $0.80 per diluted share, for the third quarter of 2025.

2026 Year to Date Financial Results

•Total revenues were $192.6 million for the nine months ended September 30, 2026, compared to $189.2 million for the nine months ended September 30, 2025.

•Net loss attributable to common stockholders for the nine months ended September 30, 2026 totaled $26.9 million, or loss of $1.05 per diluted share, which included $71.4 million of depreciation and amortization expense. This compared to net loss attributable to common stockholders of $21.7 million, or loss of $0.86 per diluted share, for the nine months ended September 30, 2025, which included $72.2 million of depreciation and amortization expense.

•The change in our net loss of $27.0 million for the nine months ended September 30, 2026 as compared to our net loss of $21.8 million for the nine months ended September 30, 2025 primarily relates to an increase in property operating expenses and interest expense of $4.0 million and $4.3 million, respectively, offset by an increase in total revenues of $3.4 million.

•For the nine months ended September 30, 2026, NOI was $112.1 million on 36 properties, compared to $114.6 million for the nine months ended September 30, 2025 on 35 properties.

•For the nine months ended September 30, 2026, YTD Same Store NOI decreased 4.6% to $109.3 million, compared to $114.6 million for the nine months ended September 30, 2025.

•For the nine months ended September 30, 2026, FFO totaled $44.3 million, or $1.74 per diluted share, compared to $50.2 million, or $1.96 per diluted share, for the nine months ended September 30, 2025.

•For the nine months ended September 30, 2026, Core FFO totaled $47.6 million, or $1.87 per diluted share, compared to $54.8 million, or $2.14 per diluted share, for the nine months ended September 30, 2025.

•For the nine months ended September 30, 2026, AFFO totaled $55.4 million, or $2.18 per diluted share, compared to $62.1 million, or $2.43 per diluted share, for the nine months ended September 30, 2025.

Subsequent Events

•On October 1, 2026, the Company drew $33.0 million under the Company's revolving credit facility (the "Credit Facility"). As of October 1, 2026, the Company had $112.1 million in aggregate principal outstanding and a $2.0 million letter of credit outstanding under the Credit Facility.

•On October 2, 2026, the Company, through the OP, acquired the following property (dollars in thousands):

Property Name

Location

Date of Acquisition

Purchase Price

Units

Effective Ownership

Midtown Crossing

Raleigh, NC

October 2, 2026

$

32,000

228

100%

•On October 26, 2026, the Company's board of directors (the "Board") authorized the Company to repurchase an indeterminate number of shares of our common stock at an aggregate market value of up to $150.0 million during a two-year period that will expire on October 26, 2028.

•On October 26, 2026, the Board approved a quarterly dividend of $0.53 per share, payable on December 31, 2026 to stockholders of record on December 15, 2026.

NXRT.NEXPOINT.COM Page 2

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

Third Quarter Earnings Conference Call

NXRT will host a call on Tuesday, November 3, 2026, at 11:00 a.m. ET (10:00 a.m. CT), to discuss its third 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 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 fourth 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.: THIRD QUARTER 2026 OVERVIEW

Company Profile

(share counts in thousands)
Exchange/Ticker	NYSE; NYSE Texas: NXRT
Share Price (1)	$18.04
Insider Ownership (2)	17.10%
2026 Q4 Dividend Per Share	$0.53
Dividend Yield (1)	11.75%
Shares Outstanding - basic (3)	25,550
Shares Outstanding - diluted (3)	25,550

(1)As of the close of market trading on November 2, 2026.

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

(3)Weighted average for the three months ended September 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 Third Quarter 2026 Activity

Operating Snapshot
Metric	Q3'26	Q2'26	QoQ	Q3'25	YoY
Same Store Ending Physical Occupancy:	92.9%	93.6%	-0.7%	93.6%	-0.7%
Same Store Blended Lease Trade-out %:	-0.09%	-1.16%	1.08%	-0.44%	0.36%
Same Store Average Effective Monthly Rent per Unit:	$1,487	$1,487	0.0%	$1,497	-0.7%
Resident Turnover:	45.7%	44.1%	1.6%	45.0%	0.72%
Move-outs to Purchase a Home:	6.6%	8.7%	-2.2%	10.4%	-3.9%
Move-outs to Rent a Home:	2.5%	1.9%	0.6%	1.9%	0.6%
Bad Debt as % of Gross Potential Revenue:	0.8%	0.6%	33.3%	0.8%	0.0%
Monthly Leasing Cadence
Metric	Jul'26	Aug'26	Sept'26	Q3'26	Oct'26
New Lease Trade-out %	-3.3%	-4.1%	-6.0%	-4.5%	-3.6%
Renewal Lease Trade-out %	2.9%	3.6%	3.3%	3.2%	2.1%
Blended Lease Trade-out %	0.3%	0.3%	-0.8%	-0.1%	-0.3%
Ending Occupancy %	93.2%	92.5%	92.8%	92.8%	92.3%
Ending Leased %	95.9%	95.0%	95.1%	95.1%	95.3%
Resident Retention	53.5%	54.4%	54.9%	54.3%	57.5%
Market-Level Lease Trade-outs: Q3 2026
Market	New Leases	% Change	$ Change	Renewals	% Change	$ Change
Dallas/Fort Worth	209	-6.0%	-$73	289	2.2%	$28
Charlotte	30	-7.6%	-$103	75	2.9%	$42
Nashville	167	-6.0%	-$75	164	2.3%	$28
Atlanta	180	-2.6%	-$33	265	1.7%	$27
Orlando	112	-7.1%	-$106	174	2.1%	$33
Tampa	54	-2.4%	-$31	53	2.2%	$30
South Florida	179	-4.6%	-$96	285	2.0%	$42
Phoenix	258	-5.0%	-$72	268	3.5%	$49
Las Vegas	142	-1.5%	-$25	186	10.1%	$141
Raleigh	59	-0.9%	-$14	101	4.2%	$61
TOTAL	1,390	-4.5%	-$65	1,860	3.2%	$47
Market-Level Lease Trade-outs: October 2026
Market	New Leases	% Change	$ Change	Renewals	% Change	$ Change
Dallas/Fort Worth	40	-2.1%	-$26	65	2.1%	$23
Charlotte	13	-5.1%	-$68	19	0.7%	$10
Nashville	27	-7.9%	-$106	36	2.1%	$26
Atlanta	40	-2.1%	-$23	57	1.1%	$16
Orlando	19	-4.9%	-$71	38	1.4%	$22
Tampa	12	-5.2%	-$72	15	1.2%	$16
South Florida	48	-3.7%	-$83	64	0.8%	$17
Phoenix	44	-4.5%	-$49	56	3.1%	$41
Las Vegas	42	-1.1%	-$15	53	5.4%	$71
Raleigh	11	-4.7%	-$67	9	2.0%	$26
TOTAL	296	-3.6%	-$52	412	2.1%	$29

NXRT.NEXPOINT.COM Page 5

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

FORECASTED SUBMARKET DELIVERIES (1)

Market	Submarket (RealPage)	Property	NXRT Unit Exposure			3-Mi Inventory (ApartmentIQ)			2025 Deliveries (3 mi)			2026 Deliveries (3 mi)			2027 Deliveries (3 mi)			2028 Deliveries (3 mi)			3-year Deliveries (3 mi)			3-year % of 3-Mi Inventory
ATL	Southeast Marietta	Rockledge		708			32,124			149			277			752			50			1,079		3.4%
ATL	Southeast Marietta	The Preserve at Terrell Mill		752			32,987			149			277			1,047			50			1,374		4.2%
ATL	Sandy Springs	The Adair		232			19,233			286			72			631			382			1,085		5.6%
CHA	Huntersville/Cornelius	The Verandas at Lake Norman		264			7,465			482			235			881			238			1,354		18.1%
CHA	Matthews/Southeast Charlotte	Creekside at Matthews		240			6,493			55			73			380			-			453		7.0%
DFW	East Fort Worth	The Venue at 8651		333			10,084			-			398			360			268			1,026		10.2%
DFW	Far North Dallas	Versailles I		388			41,471			-			-			390			-			390		0.9%
DFW	Far North Dallas	Versailles II		242			41,471			-			-			390			-			390		0.9%
DFW	Hurst/Euless/Bedford	Arbors on Forest Ridge		210			16,304			-			201			-			-			201		1.2%
DFW	Hurst/Euless/Bedford	Summers Landing		196			25,566			572			384			151			-			535		2.1%
DFW	Oak Lawn/Park Cities	Atera		380			87,114			1,439			1,334			886			327			2,547		2.9%
DFW	Richardson	Cutters Point		196			43,474			213			136			438			168			742		1.7%
LSV	Northwest Las Vegas	Bella Solara		320			18,111			216			38			-			-			38		0.2%
LSV	Northwest Las Vegas	Bloom		528			15,369			216			38			-			-			38		0.2%
LSV	Southwest Las Vegas	Torreyana		316			24,444			457			465			302			88			855		3.5%
LSV	North Las Vegas	Sedona at Lone Mountain		321			10,314			312			493			50			-			543		5.3%
NASH	East Nashville	Residences at Glenview Reserve		360			8,716			-			-			52			-			52		0.6%
NASH	South Nashville	Arbors of Brentwood		346			13,154			180			195			133			-			328		2.5%
NASH	South Nashville	Brandywine		632			15,437			180			195			133			-			328		2.1%
ORL	East Orlando	The Cornerstone		430			21,674			67			372			225			336			933		4.3%
ORL	Northwest Orlando	Residences at West Place		342			16,142			-			-			-			-			-		0.0%
ORL	South Orange County	Sabal Palm at Lake Buena Vista		400			35,010			264			868			1,197			482			2,547		7.3%
PHX	Chandler	Fairways at San Marcos		352			21,944			815			90			244			621			955		4.4%
PHX	North Central Phoenix	Heritage		204			56,899			1,952			2,026			84			291			2,401		4.2%
PHX	North Central Phoenix	The Venue on Camelback		415			35,699			514			350			36			-			386		1.1%
PHX	Northeast Phoenix	Bella Vista		248			15,321			113			-			-			-			-		0.0%
PHX	South Tempe	Enclave		204			53,327			1,170			951			742			159			1,852		3.5%
PHX	Southwest Mesa	Madera Point		256			42,177			1,159			545			481			157			1,183		2.8%
PHX	West Phoenix	Estates on Maryland		330			35,226			762			361			225			46			632		1.8%
RDU	Far North Raleigh	Six Forks Station		323			10,181			-			69			277			-			346		3.4%
RDU	North Cary/Morrisville	High House at Cary		302			10,750			50			227			80			135			442		4.1%
SFL	Pembroke Pines/Miramar	Avant at Pembroke Pines		1,520			17,387			332			-			-			-			-		0.0%
SFL	West Palm Beach	Parc500		217			31,144			418			770			714			181			1,665		5.3%
SFL	West Palm Beach	Seasons 704		222			13,565			75			300			25			-			325		2.4%
TPA	Egypt Lake/Lowry Park	Courtney Cove		324			19,508			-			403			-			-			403		2.1%
TPA	Temple Terrace	The Summit at Sabal Park		252			6,064			202			264			446			224			934		15.4%
Totals/Averages		Total (de-duplicated)		13,305			714,849			10,662			10,943			10,225			4,153			25,321		3.5%

(1)Source: 2026 Realpage, Inc & Apartment IQ.; Data as of October 2026.

NXRT.NEXPOINT.COM Page 6

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

Financial Summary

		Q3 2026				Q3 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)		$	498,000			$	817,000
Share Price (as of the last day of the period)		$	19.51			$	32.22
Weighted average common shares outstanding - basic			25,550				25,364				25,489				25,398
Weighted average common shares outstanding - diluted			25,550				25,364				25,489				25,398
Earnings Profile
Total revenues		$	64,468			$	62,829			$	192,621			$	189,194
Net loss attributable to common stockholders			(11,486	)			(7,790	)			(26,851	)			(21,720	)
NOI (1)			36,556				38,819				112,087				114,614
Same Store NOI (2)			35,649				38,819				109,281				114,590
Same Store NOI Growth (%) (2)			-8.2	%							-4.6	%
Earnings Metrics Per Common Share (diluted basis)
Earnings		$	(0.45	)		$	(0.31	)		$	(1.05	)		$	(0.86	)
FFO (1)		$	0.46			$	0.63			$	1.74			$	1.96
Core FFO (1)		$	0.52			$	0.70			$	1.87			$	2.14
AFFO (1)		$	0.63			$	0.80			$	2.18			$	2.43
Dividends declared per common share		$	0.53			$	0.51			$	1.59			$	1.53
Net Loss Coverage (3)		-0.85x				-0.61x				-0.66x				-0.56x
FFO Coverage (3)		0.86x				1.23x				1.09x				1.28x
Core FFO Coverage (3)		0.99x				1.37x				1.18x				1.40x
AFFO Coverage (3)		1.19x				1.56x				1.37x				1.59x
Portfolio
Total Properties			36				35
Total Units (4)			13,305				12,984
Occupancy			92.8	%			93.6	%
Average Effective Monthly Rent per Unit		$	1,489			$	1,497
Same Store Portfolio Metrics (2)
Total Same Store Properties			35				35				35				35
Total Same Store Units			12,980				12,946				12,980				12,946
Occupancy			92.9	%			93.6	%			92.9	%			93.6	%
Average Effective Monthly Rent per Unit		$	1,487			$	1,497			$	1,487			$	1,497
Value-Add Program
Completed Rehab Units			708				365				1,467				1,130
Cumulative Completed Rehab Units (5)			11,010
Average Increase to Effective Monthly Rent      per Unit (Post-Rehab)		$	147
ROI on Post-Rehab Units			20.7	%
Outstanding Debt Summary
Total Mortgage Debt		$	1,543,529			$	1,503,242
Credit Facility			79,145				—
Total Debt Outstanding		$	1,622,674			$	1,503,242
Leverage Ratio (Total Debt to Market Capitalization plus Total Debt)			77	%			65	%
Leverage Ratio (Net Debt to Enterprise Value) (6)			76	%			65	%

(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 Q3 and YTD Same Store properties, see the “Q3 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 4 units are currently down.

(5)Inclusive of all full and partial interior upgrades completed through September 30, 2026. Cumulative results exclude rehabs completed for properties sold through September 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 expense, Same Store NOI, and Acquisitions and reaffirming guidance mid-point for 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)		$	(1.72	)		$	(1.68	)		$	(1.63	)		$	(1.54	)
Core FFO per diluted share (1) (2)		$	2.17			$	2.22			$	2.27			$	2.45
Same Store Growth: (3)
Rental Income			-1.9	%			-1.5	%			-1.2	%			-0.3	%
Total Revenue			-1.2	%			-0.9	%			-0.6	%			0.2	%
Total Expenses			4.7	%			4.4	%			4.1	%			2.1	%
Same Store NOI (2)			-5.1	%			-4.3	%			-3.6	%			-1.0	%
Other Considerations: (4)
Acquisitions		$	32.0			$	116.0			$	200.0			$	100.0
Dispositions		$	—			$	100.0			$	200.0			Reaffirmed

(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	%			5.50	%			6.00	%		$	254,221			$	281,900
North Carolina
Raleigh			4.4	%			5.50	%			6.00	%			107,587				119,301
Charlotte			3.9	%			5.50	%			6.00	%			95,064				105,414
Georgia
Atlanta			12.6	%			5.50	%			6.00	%			309,920				343,662
Tennessee
Nashville			8.7	%			5.50	%			6.00	%			214,707				238,084
Florida
Orlando			8.9	%			5.50	%			6.00	%			218,685				242,494
Tampa			3.3	%			5.50	%			6.00	%			82,371				91,339
South Florida			20.8	%			5.50	%			6.00	%			512,379				568,163
Nevada
Las Vegas			11.4	%			5.50	%			6.00	%			280,023				310,510
Arizona
Phoenix			15.8	%			5.50	%			6.00	%			388,168				430,430
Total / Ave			100.0	%			5.50	%			6.00	%		$	2,463,125			$	2,731,297

NOI ESTIMATE

Q2 2026 NOI Actual						37,894
Q3 2026 NOI Actual						36,556
		Low						High
Estimated Q4 2026 NOI Guidance (3)			35,702						38,136
2026 NOI Guidance (3)		$	147,788					$	150,221

NAV SUMMARY

Component		Min								Max
Tangible Assets
Real Estate (2)		$	2,463,125							$	2,731,297
Cash							15,803
Restricted Cash - Renovation Reserves (4)							5,459
Renovation Expenditures (4)							(5,459	)
Cash Adjustments (5)							0
Fair Market Value of Interest Rate Swaps							4,346
Other Assets							62,349
Value of Assets		$	2,545,623							$	2,813,795
Tangible Liabilities
Credit Facility (6)						$	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)							40,159
Value of Liabilities						$	1,662,833
Net Leverage (mid-point)							62	%
Net Asset Value		$	882,790							$	1,150,962
Shares outstanding - diluted (FY 2026 Est.)							26,530
Est. NAV / Share		$	33.28							$	43.38
NAV / Share (mid-point)						$	38.33

IMPLIED VALUATION METRICS

		Min						Max
Implied Real Estate Value		$	2,463,125					$	2,731,297
No. of Units (September 30, 2026) (2)						13,305
Implied Value/Apartment Unit		$	185.1					$	205.3
Implied Value/Apartment Unit (mid-point)					$	195.2

(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 September 30, 2026).

(3)The Company anticipates net loss will be in the range between approximately $44.2 million and $41.8 million for the full year 2026 and between $17.3 million and $14.8 million for the fourth quarter of 2026. FY 2026 NOI Guidance considers a commensurate volume of capital recycling.

(4)Includes approximately $5.5 million that is held for value-add upgrades; reduced by $5.5 million for estimated 2026 rehab expenditures.

(5)Includes approximately $0.0 million in forward 12-month principal payments.

(6)Includes outstanding balance as of September 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)

		September 30, 2026				December 31, 2025
		(Unaudited)
ASSETS
Operating Real Estate Investments
Land		$	371,656			$	371,656
Buildings and improvements			1,830,396				1,812,311
Intangible lease assets			—				1,052
Construction in progress			1,245				8,535
Furniture, fixtures, and equipment			243,608				224,661
Total Gross Operating Real Estate Investments			2,446,905				2,418,215
Accumulated depreciation and amortization			(674,685	)			(604,321	)
Total Net Operating Real Estate Investments			1,772,220				1,813,894
Cash and cash equivalents			15,803				13,704
Restricted cash			38,845				31,476
Accounts receivable, net (1)			7,196				9,059
Prepaid and other assets (2)			21,767				4,852
Fair market value of interest rate swaps			4,346				13,434
TOTAL ASSETS		$	1,860,177			$	1,886,419
LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities:
Mortgages payable, net		$	1,513,336			$	1,469,410
Credit facility, net			77,817				88,102
Accounts payable and other accrued liabilities			13,192				11,554
Accrued real estate taxes payable			16,819				5,251
Accrued interest payable			6,579				7,053
Security deposit liability			2,735				2,980
Prepaid rents			834				1,170
Fair market value of interest rate swaps			—				475
Total Liabilities			1,631,312				1,585,995
Redeemable noncontrolling interests in the OP			4,724				4,928
Stockholders' Equity:
Preferred stock, $0.01 par value: 100,000,000 shares authorized; 0 shares issued			—				—
Common stock, $0.01 par value: 500,000,000 shares authorized; 25,549,813 and 25,364,470 shares issued and outstanding, respectively			256				254
Additional paid-in capital			412,719				406,628
Accumulated earnings less dividends			(192,278	)			(123,409	)
Accumulated other comprehensive income			3,444				12,023
Total Stockholders' Equity			224,141				295,496
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY		$	1,860,177			$	1,886,419

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

(2)Includes $14.7 million and $0.0 million note receivable from a related party as of September 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 September 30,								For the Nine Months Ended September 30,
		2026				2025				2026				2025
Revenues
Rental income		$	61,400			$	60,899			$	184,258			$	183,569
Other income (1)			3,068				1,930				8,363				5,625
Total revenues			64,468				62,829				192,621				189,194
Expenses
Property operating expenses			15,409				13,366				42,355				38,363
Real estate taxes and insurance			8,224				7,325				24,506				24,812
Property management fees (2)			1,804				1,785				5,446				5,411
Advisory and administrative fees (3)			1,832				1,755				5,401				5,176
Corporate general and administrative expenses			4,943				4,839				14,127				13,795
Property general and administrative expenses			2,662				2,557				7,434				6,700
Depreciation and amortization			23,231				23,783				71,415				72,192
Total expenses			58,105				55,410				170,684				166,449
Operating income			6,363				7,419				21,937				22,745
Interest expense			(18,076	)			(15,459	)			(49,347	)			(45,002	)
Casualty gain (loss)			1				5				1				(163	)
Equity in earnings of affiliate			117				69				290				183
Miscellaneous income			63				145				161				431
Net loss			(11,532	)			(7,821	)			(26,958	)			(21,806	)
Net loss attributable to redeemable noncontrolling interests in the OP			(46	)			(31	)			(107	)			(86	)
Net loss attributable to common stockholders		$	(11,486	)		$	(7,790	)		$	(26,851	)		$	(21,720	)
Other comprehensive loss
Unrealized losses on interest rate derivatives			(885	)			(6,339	)			(8,613	)			(22,953	)
Total comprehensive loss			(12,417	)			(14,160	)			(35,571	)			(44,759	)
Comprehensive loss attributable to redeemable noncontrolling interests in the OP			(49	)			(56	)			(141	)			(176	)
Comprehensive loss attributable to common stockholders		$	(12,368	)		$	(14,104	)		$	(35,430	)		$	(44,583	)
Weighted average common shares outstanding - basic			25,550				25,364				25,489				25,398
Weighted average common shares outstanding - diluted			25,550				25,364				25,489				25,398
Loss per share - basic		$	(0.45	)		$	(0.31	)		$	(1.05	)		$	(0.86	)
Loss per share - diluted		$	(0.45	)		$	(0.31	)		$	(1.05	)		$	(0.86	)

(1)Includes $0.5 million and $0.7 million from a related party for the three and nine months ended September 30, 2026, respectively, and $0.0 million for the three and nine months ended September 30, 2025, respectively.

(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 nine months ended September 30, 2026 and 2025 to net loss, the most directly comparable GAAP financial measure (in thousands):

		For the Three Months Ended September 30,								For the Nine Months Ended September 30,
		2026				2025				2026				2025
Net loss		$	(11,532	)		$	(7,821	)		$	(26,958	)		$	(21,806	)
Adjustments to reconcile net loss to NOI:
Advisory and administrative fees			1,832				1,755				5,401				5,176
Corporate general and administrative expenses			4,943				4,839				14,127				13,795
Corporate income			(1,055	)			(392	)			(2,410	)			(1,204	)
Casualty-related expenses/(recoveries)	(1)		115				14				(1,547	)			(1,435	)
Casualty (gain) loss			(1	)			(5	)			(1	)			163
Property general and administrative expenses	(2)		1,064				1,256				3,003				2,914
Depreciation and amortization			23,231				23,783				71,415				72,192
Interest expense			18,076				15,459				49,347				45,002
Equity in earnings of affiliate			(117	)			(69	)			(290	)			(183	)
NOI		$	36,556			$	38,819			$	112,087			$	114,614
Less Non-Same Store
Revenues			(1,397	)			—				(4,397	)			(4	)
Operating expenses			490				—				1,591				(20	)
Same Store NOI		$	35,649			$	38,819			$	109,281			$	114,590

(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.

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NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

Q3 Same Store Results of Operations for the Three Months Ended September 30, 2026 and 2025

There are 35 properties encompassing 12,980 units of apartment space, or approximately 98% of our Portfolio, in our same store pool for the three months ended September 30, 2026 and 2025 (our “Q3 Same Store” properties). Our Q3 Same Store properties exclude 4 units that are currently down and the following property in our Portfolio as of September 30, 2026: Sedona at Lone Mountain.

As of September 30, 2026, our Q3 Same Store properties were approximately 92.9% occupied with a weighted average monthly effective rent per occupied apartment unit of $1,487, representing a year-over-year decrease of 70 bps and $10, respectively.

The following table reflects the revenues, property operating expenses and NOI for the three months ended September 30, 2026 and 2025 for our Q3 Same Store and Non-Same Store properties (dollars in thousands):

		For the Three Months Ended September 30,
		2026				2025				$ Change				% Change
Revenues
Same Store
Rental income		$	60,026			$	60,899			$	(873	)			-1.4	%
Other income			1,990				1,538				452				29.4	%
Same Store revenues			62,016				62,437				(421	)			-0.7	%
Non-Same Store
Rental income			1,374				—				1,374			N/M
Other income			23				—				23			N/M
Non-Same Store revenues			1,397				—				1,397			N/M
Total revenues			63,413				62,437				976				1.6	%
Operating expenses
Same Store
Property operating expenses (1)			15,003				13,352				1,651				12.4	%
Real estate taxes and insurance			8,100				7,325				775				10.6	%
Property management fees (2)			1,765				1,785				(20	)			-1.1	%
Property general and administrative expenses (3)			1,562				1,301				261				20.1	%
Same Store operating expenses			26,430				23,763				2,667				11.2	%
Non-Same Store
Property operating expenses			291				—				291			N/M
Real estate taxes and insurance			124				—				124			N/M
Property management fees (2)			39				—				39			N/M
Property general and administrative expenses (4)			36				—				36			N/M
Non-Same Store operating expenses			490				—				490			N/M
Total operating expenses			26,920				23,763				3,157				13.3	%
Operating income
Same Store
Miscellaneous income			63				145				(82	)		N/M
Total operating income			63				145				(82	)		N/M
NOI
Same Store			35,649				38,819				(3,170	)			-8.2	%
Non-Same Store			907				—				907			N/M
Total NOI (5)		$	36,556			$	38,819			$	(2,263	)			-5.8	%

(1)For the three months ended September 30, 2026 and 2025, excludes approximately $112,000 and $14,000, respectively, of casualty-related expenses.

(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 September 30, 2026 and 2025, excludes approximately $1,042,000 and $1,070,000, 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 September 30, 2026 and 2025, excludes approximately $22,000 and $186,000, 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 Q3 Same Store properties rent and occupancy metrics, revenues, operating expenses and NOI for the three months ended September 30, 2026 and 2025 (dollars in thousands, except for per unit data):

		Q3 2026				Q3 2025				% Change
Same Store Total Units			12,980				12,946
Same Store Occupied Units			12,055				12,115
Same Store Ending Occupancy			92.9	%			93.6	%			-0.7	%
Same Store Average Rent per Unit		$	1,487			$	1,497				-0.7	%
Same Store Revenues
Same Store Rental Income		$	60,026			$	60,899				-1.4	%
Same Store Other Income			1,990				1,538				29.4	%
Total Same Store Revenues			62,016				62,437				-0.7	%
Same Store Operating Expenses
Payroll			4,875				4,701				3.7	%
Repairs & Maintenance			6,642				5,533				20.0	%
Utilities			3,486				3,118				11.8	%
Real Estate Taxes			6,955				6,027				15.4	%
Insurance			1,145				1,298				-11.8	%
Property Management Fees			1,765				1,785				-1.1	%
Office Operations			998				874				14.2	%
Marketing			564				427				32.1	%
Total Same Store Operating Expenses			26,430				23,763				11.2	%
Same Store Operating Income
Miscellaneous Income			63				145				-56.6	%
Total Same Store Operating Income			63				145				-56.6	%
Q3 Same Store NOI		$	35,649			$	38,819				-8.2	%

NXRT.NEXPOINT.COM Page 14

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

Q3 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				Q3 2026			Q3 2025			% Change	Q3 2026			Q3 2025			bps ∆			Q3 2026			Q3 2025			% Change
Texas
Dallas			1,944			$	1,206		$	1,236		-2.4%		91.9	%		93.1	%		-120		$	7,486		$	7,780		-3.8%
Average/Total			1,944				1,206			1,236		-2.4%		91.9	%		93.1	%		-120			7,486			7,780		-3.8%
North Carolina
Charlotte			504				1,394			1,413		-1.3%		90.5	%		95.2	%		-470			2,196			2,303		-4.6%
Raleigh/Durham			625				1,428			1,413		1.1%		91.5	%		95.7	%		-420			2,701			2,765		-2.3%
Average/Total			1,129				1,413			1,413		0.0%		91.1	%		95.5	%		-440			4,897			5,068		-3.4%
Georgia
Atlanta			1,692				1,450			1,457		-0.5%		95.2	%		94.5	%		70			7,792			7,514		3.7%
Average/Total			1,692				1,450			1,457		-0.5%		95.2	%		94.5	%		70			7,792			7,514		3.7%
Tennessee
Nashville			1,338				1,240			1,274		-2.7%		93.6	%		93.5	%		10			5,297			5,453		-2.9%
Average/Total			1,338				1,240			1,274		-2.7%		93.6	%		93.5	%		10			5,297			5,453		-2.9%
Florida
Orlando			1,169				1,508			1,553		-2.9%		94.3	%		92.7	%		160			5,456			5,495		-0.7%
Tampa			576				1,340			1,349		-0.7%		91.3	%		94.4	%		-310			2,333			2,422		-3.7%
South Florida			1,959				2,147			2,150		-0.1%		93.6	%		94.8	%		-120			13,036			13,165		-1.0%
Average/Total			3,704				1,820			1,837		-0.9%		93.5	%		94.1	%		-60			20,825			21,082		-1.2%
Arizona
Phoenix			2,009				1,401			1,426		-1.8%		92.6	%		91.9	%		70			8,817			8,985		-1.9%
Average/Total			2,009				1,401			1,426		-1.8%		92.6	%		91.9	%		70			8,817			8,985		-1.9%
Nevada
Las Vegas			1,164				1,440			1,353		6.4%		90.6	%		92.6	%		-200			4,912			5,017		-2.1%
Average/Total			1,164				1,440			1,353		6.4%		90.6	%		92.6	%		-200			4,912			5,017		-2.1%
Average/Total			12,980			$	1,487		$	1,497		-0.7%		92.9	%		93.6	%		-70		$	60,026		$	60,899		-1.4%

(1)This table includes the 35 properties in our Q3 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				Q3 2026			Q2 2026			% Change	Q3 2026			Q2 2026			bps ∆			Q3 2026			Q2 2026			% Change
Texas
Dallas			1,944			$	1,206		$	1,207		-0.1%		91.9	%		92.2	%		-30		$	7,486		$	7,486		0.0%
Average/Total			1,944				1,206			1,207		-0.1%		91.9	%		92.2	%		-30			7,486			7,486		0.0%
North Carolina
Charlotte			504				1,394			1,405		-0.8%		90.5	%		94.8	%		-430			2,196			2,304		-4.7%
Raleigh/Durham			625				1,428			1,441		-0.9%		91.5	%		94.2	%		-270			2,701			2,769		-2.5%
Average/Total			1,129				1,413			1,425		-0.8%		91.1	%		94.5	%		-340			4,897			5,073		-3.5%
Georgia
Atlanta			1,692				1,450			1,450		0.0%		95.2	%		95.0	%		20			7,792			7,581		2.8%
Average/Total			1,692				1,450			1,450		0.0%		95.2	%		95.0	%		20			7,792			7,581		2.8%
Tennessee
Nashville			1,338				1,240			1,252		-1.0%		93.6	%		93.8	%		-20			5,297			5,283		0.3%
Average/Total			1,338				1,240			1,252		-1.0%		93.6	%		93.8	%		-20			5,297			5,283		0.3%
Florida
Orlando			1,169				1,508			1,526		-1.2%		94.3	%		94.3	%		0			5,456			5,417		0.7%
Tampa			576				1,340			1,343		-0.2%		91.3	%		93.9	%		-260			2,333			2,369		-1.5%
South Florida			1,959				2,147			2,145		0.1%		93.6	%		94.7	%		-110			13,036			13,233		-1.5%
Average/Total			3,704				1,820			1,825		-0.3%		93.5	%		94.5	%		-100			20,825			21,019		-0.9%
Arizona
Phoenix			2,009				1,401			1,395		0.4%		92.6	%		91.9	%		70			8,817			8,958		-1.6%
Average/Total			2,009				1,401			1,395		0.4%		92.6	%		91.9	%		70			8,817			8,958		-1.6%
Nevada
Las Vegas			1,164				1,440			1,402		2.7%		90.6	%		92.4	%		-180			4,912			5,002		-1.8%
Average/Total			1,164				1,440			1,402		2.7%		90.6	%		92.4	%		-180			4,912			5,002		-1.8%
Average/Total			12,980			$	1,487		$	1,487		0.0%		92.9	%		93.6	%		-70		$	60,026		$	60,402		-0.6%

(1)This table includes the 35 properties in our Q3 Same Store pool.

YTD Same Store Results of Operations for the Nine Months Ended September 30, 2026 and 2025

There are 35 properties encompassing 12,980 units of apartment space, or approximately 98% of our Portfolio, in our same store pool for the nine months ended September 30, 2026 and 2025 (our “YTD Same Store” properties).

As of September 30, 2026, our YTD Same Store properties were approximately 92.9% occupied with a weighted average monthly effective rent per occupied apartment unit of $1,487, representing a year-over-year decrease of 70 bps and $10, 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 nine months ended September 30, 2026 and 2025 for our YTD Same Store and Non-Same Store properties (dollars in thousands):

		For the Nine Months Ended September 30,
		2026				2025				$ Change				% Change
Revenues
Same Store
Rental income		$	179,969			$	183,565			$	(3,596	)			-2.0	%
Other income			5,845				4,421				1,424				32.2	%
Same Store revenues			185,814				187,986				(2,172	)			-1.2	%
Non-Same Store
Rental income			4,289				4				4,285			N/M
Other income			108				—				108			N/M
Non-Same Store revenues			4,397				4				4,393			N/M
Total revenues			190,211				187,990				2,221				1.2	%
Operating expenses
Same Store
Property operating expenses (1)			43,052				39,797				3,255				8.2	%
Real estate taxes and insurance			23,992				24,835				(843	)			-3.4	%
Property management fees (2)			5,324				5,411				(87	)			-1.6	%
Property general and administrative expenses (3)			4,326				3,784				542				14.3	%
Same Store operating expenses			76,694				73,827				2,867				3.9	%
Non-Same Store
Property operating expenses			850				1				849			N/M
Real estate taxes and insurance			514				(23	)			537			N/M
Property management fees (2)			122				—				122			N/M
Property general and administrative expenses (4)			105				2				103			N/M
Non-Same Store operating expenses			1,591				(20	)			1,611			N/M
Total operating expenses			78,285				73,807				4,478				6.1	%
Operating income
Same Store
Miscellaneous income			161				431				(270	)		N/M
Total operating income			161				431				(270	)		N/M
NOI
Same Store			109,281				114,590				(5,309	)			-4.6	%
Non-Same Store			2,806				24				2,782			N/M
Total NOI (5)		$	112,087			$	114,614			$	(2,527	)			-2.2	%

(1)For the nine months ended September 30, 2026 and 2025, excludes approximately $284,000 and $(1,435,000), 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 nine months ended September 30, 2026 and 2025, excludes approximately $2,912,000 and $2,696,000, 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 nine months ended September 30, 2026 and 2025, excludes approximately $2,000 and $-, respectively, of casualty-related expenses.

(5)For the nine months ended September 30, 2026 and 2025, excludes approximately $91,000 and $218,000, 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 nine months ended September 30, 2026 and 2025 (dollars in thousands, except for per unit data):

		YTD 2026				YTD 2025				% Change
Same Store Total Units			12,980				12,946
Same Store Occupied Units			12,055				12,115
Same Store Ending Occupancy			92.9	%			93.6	%			-0.7	%
Same Store Average Rent per Unit		$	1,487			$	1,497				-0.7	%
Same Store Revenues
Same Store Rental Income		$	179,969			$	183,565				-2.0	%
Same Store Other Income			5,845				4,421				32.2	%
Total Same Store Revenues			185,814				187,986				-1.2	%
Same Store Operating Expenses
Payroll			14,370				14,458				-0.6	%
Repairs & Maintenance			19,136				16,437				16.4	%
Utilities			9,546				8,902				7.2	%
Real Estate Taxes			20,408				20,551				-0.7	%
Insurance			3,584				4,284				-16.3	%
Property Management Fees			5,324				5,411				-1.6	%
Office Operations			2,847				2,723				4.6	%
Marketing			1,479				1,061				39.4	%
Total Same Store Operating Expenses			76,694				73,827				3.9	%
Same Store Operating Income
Miscellaneous Income			161				431				-62.6	%
Total Same Store Operating Income			161				431				-62.6	%
YTD Same Store NOI		$	109,281			$	114,590				-4.6	%

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 nine months ended September 30, 2026 and 2025 (in thousands, except per share amounts):

		For the Three Months Ended September 30,								For the Nine Months Ended September 30,
		2026				2025				2026				2025				% Change
Net loss		$	(11,532	)		$	(7,821	)		$	(26,958	)		$	(21,806	)			23.6	%
Depreciation and amortization			23,231				23,783				71,415				72,192				-1.1	%
Adjustment for noncontrolling interests			(46	)			(63	)			(175	)			(199	)			-12.1	%
FFO attributable to common stockholders			11,653				15,899				44,282				50,187				-11.8	%
FFO per share - basic		$	0.46			$	0.63			$	1.74			$	1.98				-12.1	%
FFO per share - diluted		$	0.46			$	0.63			$	1.74			$	1.96				-11.2	%
Casualty-related expenses/(recoveries)			115				14				(1,547	)			(1,435	)			7.8	%
Casualty (gain) loss			(1	)			(5	)			(1	)			163			N/M
Amortization of deferred financing costs			1,684				1,657				5,051				4,929				2.5	%
Mark-to-market adjustments of interest rate caps			(78	)			157				(205	)			935			N/M
Adjustment for noncontrolling interests			(7	)			(7	)			(13	)			(18	)			-27.8	%
Core FFO attributable to common stockholders			13,366				17,715				47,567				54,761				-13.1	%
Core FFO per share - basic		$	0.52			$	0.70			$	1.87			$	2.16				-13.4	%
Core FFO per share - diluted		$	0.52			$	0.70			$	1.87			$	2.14				-12.6	%
Equity-based compensation expense			2,812				2,527				7,910				7,337				7.8	%
Adjustment for noncontrolling interests			(11	)			(10	)			(31	)			(29	)			6.9	%
AFFO attributable to common stockholders			16,167				20,232				55,446				62,069				-10.7	%
AFFO per share - basic		$	0.63			$	0.80			$	2.18			$	2.44				-10.7	%
AFFO per share - diluted		$	0.63			$	0.80			$	2.18			$	2.43				-10.3	%
Weighted average common shares outstanding - basic			25,550				25,364				25,489				25,398				0.4	%
Weighted average common shares outstanding - diluted	(1)		25,550				25,370				25,489				25,545				-0.2	%
Dividends declared per common share		$	0.53			$	0.51			$	1.59			$	1.53				3.9	%
Net Loss Coverage - diluted	(2)	-0.85x				-0.61x				-0.66x				-0.56x					17.5	%
FFO Coverage - diluted	(2)	0.86x				1.23x				1.09x				1.28x					-14.6	%
Core FFO Coverage - diluted	(2)	0.99x				1.37x				1.18x				1.40x					-15.9	%
AFFO Coverage - diluted	(2)	1.19x				1.56x				1.37x				1.59x					-13.7	%

(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

		Q3 2026				Q3 2025				% Change				YTD 2026				YTD 2025				% Change
($ in thousands)
Capitalized Rehab Expenditures
Interior		$	1,506			$	2,017				-25.3	%		$	4,361			$	3,998				9.1	%
Exterior and common area			341				60				468.3	%			1,616				209			N/M
Capitalized Maintenance Expenditures
Recurring			5,529				4,553				21.4	%			13,544				10,597				27.8	%
Non-Recurring			3,572				4,564				-21.7	%			9,704				11,382				-14.7	%
Total Capital Expenditures		$	10,948			$	11,194				-2.2	%		$	29,225			$	26,186				11.6	%

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				226			$	1,178			$	1,360			$	8,914				15.5	%			24.5	%
Arbors on Forest Ridge			210				215				789				877				3,964				11.2	%			26.7	%
Atera Apartments			380				305				1,173				1,298				3,041				10.7	%			49.3	%
Avant at Pembroke Pines			1,520				990				1,811				2,031				15,107				12.1	%			17.4	%
Bella Solara			320				175				1,183				1,306				8,630				10.4	%			17.1	%
Bella Vista			248				224				1,448				1,583				9,968				9.3	%			16.3	%
Bloom			528				204				1,229				1,360				11,194				10.6	%			14.0	%
Brandywine I & II			632				712				1,004				1,178				10,033				17.3	%			20.8	%
Courtney Cove			324				382				957				1,049				4,267				9.6	%			25.8	%
Creekside at Matthews			240				136				1,310				1,475				8,436				12.6	%			23.5	%
Cutter's Point			196				205				941				1,042				5,458				10.8	%			22.3	%
Estates on Maryland			330				172				1,232				1,370				9,544				11.2	%			17.3	%
Fairways at San Marcos			352				226				1,434				1,564				9,257				9.1	%			17.0	%
High House at Cary			302				188				1,338				1,537				10,138				14.9	%			23.6	%
Madera Point			256				300				911				1,013				4,196				11.2	%			29.3	%
Parc500			217				300				1,353				1,503				11,473				11.1	%			15.7	%
Residences at Glenview Reserve			360				361				1,067				1,285				12,648				20.4	%			20.7	%
Residences at West Place			342				239				1,498				1,680				11,175				12.1	%			19.5	%
Rockledge Apartments			708				675				1,257				1,406				8,157				11.9	%			21.9	%
Sabal Palm at Lake Buena Vista			400				242				1,326				1,441				7,197				8.7	%			19.3	%
Sedona at Lone Mountain			321				16				1,157				1,170				1,958				1.1	%			8.0	%
Seasons 704 Apartments			222				291				1,226				1,343				6,919				9.5	%			20.3	%
Six Forks Station			323				177				1,119				1,375				11,198				22.9	%			27.4	%
Summers Landing			196				99				978				1,132				7,871				15.7	%			23.4	%
Summit at Sabal Park			252				283				1,013				1,103				5,161				8.9	%			21.0	%
The Adair			232				193				1,738				1,994				10,736				14.7	%			28.5	%
The Cornerstone			430				590				1,047				1,140				4,621				8.8	%			24.0	%
The Enclave			204				210				1,451				1,608				8,876				10.8	%			21.2	%
The Heritage			204				211				1,365				1,482				8,381				8.6	%			16.8	%
The Preserve at Terrell Mill			752				924				885				1,043				9,855				17.8	%			19.2	%
The Verandas at Lake Norman			264				125				1,211				1,353				8,859				11.7	%			19.3	%
The Venue on Camelback			415				332				764				998				9,643				30.6	%			29.1	%
Torreyana Apartments			316				87				1,294				1,386				9,023				7.1	%			12.3	%
Venue at 8651			333				368				861				955				5,971				10.9	%			18.9	%
Versailles			388				467				801				877				4,641				9.4	%			19.5	%
Versailles II			242				160				828				897				3,336				8.3	%			24.8	%
Total/Weighted Average			13,305				11,010			$	1,162			$	1,309			$	8,527				12.6	%			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 September 30, 2026.

(3)Inclusive of all full and partial interior upgrades completed and leased through September 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				327			$	894			$	50				67.3	%
Arbors on Forest Ridge			210				136				787				47				71.4	%
Atera Apartments			380				369				813				40				59.7	%
Avant at Pembroke Pines			1,520				715				1,267				52				48.9	%
Brandywine I & II			632				242				1,121				73				77.9	%
Creekside at Matthews			240				183				1,103				56				60.4	%
Cutter's Point			196				166				831				47				67.7	%
Estates on Maryland			330				21				1,067				38				42.3	%
Madera Point			256				158				893				31				41.3	%
Residences at Glenview Reserve			360				139				1,293				55				51.1	%
Rockledge Apartments			708				631				827				40				58.0	%
Sabal Palm at Lake Buena Vista			400				634				599				86				171.8	%
Six Forks Station			323				216				1,092				55				60.5	%
Summers Landing			196				119				915				59				76.9	%
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				224				1,085				47				51.5	%
Venue at 8651			333				274				780				47				72.3	%
Versailles			388				325				888				49				66.5	%
Versailles II			242				146				902				30				40.2	%
Total/Weighted Average			8,238				5,302			$	975			$	51				62.7	%

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

(2)Inclusive of all kitchen and laundry appliance upgrades completed through September 30, 2026.

(3)Inclusive of all kitchen and laundry appliance upgrades completed and leased through September 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 at 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	%
Sedona at Lone Mountain			321				321				811				30				35.5	%
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			11,520				11,520			$	1,105			$	43				37.2	%
Planned Value-Add Programs														Rent Change & ROI (Projections)
Residences at West Place			342				—			TBD				TBD				TBD
Seasons 704 Apartments			222				—			TBD				TBD				TBD
Summit at Sabal Park			252				—			TBD				TBD				TBD
The Preserve at Terrell Mill			752				—			TBD				TBD				TBD
Total/Weighted Average Planned			1,568				—			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 September 30, 2026.

(3)Inclusive of all smart home technology package upgrades completed and leased through September 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 September 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				4.84%		10/1/2031
Avant at Pembroke Pines		Floating			84				248,185				4.84%		10/1/2031
Bella Vista		Floating			84				37,400				4.84%		10/1/2031
Brandywine I & II		Floating			84				59,526				4.84%		10/1/2031
Cornerstone		Floating			84				45,815				4.84%		10/1/2031
Estates on Maryland		Floating			84				37,345				4.84%		10/1/2031
High House at Cary		Floating			84				32,478				4.84%		10/1/2031
Residences at Glenview Reserve		Floating			84				33,271				4.84%		10/1/2031
Sabal Palm at Lake Buena Vista		Floating			84				56,220				4.84%		10/1/2031
Six Forks Station		Floating			84				30,430				4.84%		10/1/2031
Summers Landing		Floating			84				14,135				4.84%		10/1/2031
The Adair		Floating			84				33,229				4.84%		10/1/2031
The Enclave		Floating			84				33,440				4.84%		10/1/2031
The Heritage		Floating			84				29,810				4.84%		10/1/2031
The Venue on Camelback		Floating			84				36,465				4.84%		10/1/2031
The Verandas at Lake Norman		Floating			84				30,113				4.84%		10/1/2031
Versailles II		Floating			84				15,706				4.84%		10/1/2031
Arbors on Forest Ridge		Floating			84				17,307				4.84%		12/1/2031
Atera Apartments		Floating			84				38,555				4.84%		12/1/2031
Bella Solara		Floating			84				37,772				4.84%		12/1/2031
Bloom		Floating			84				60,848				4.84%		12/1/2031
Courtney Cove		Floating			84				31,596				4.84%		12/1/2031
Creekside at Matthews		Floating			84				28,703				4.84%		12/1/2031
Cutter's Point		Floating			84				18,994				4.84%		12/1/2031
Fairways at San Marcos		Floating			84				55,056				4.84%		12/1/2031
Madera Point		Floating			84				29,676				4.84%		12/1/2031
Parc500		Floating			84				30,012				4.84%		12/1/2031
Rockledge Apartments		Floating			84				78,444				4.84%		12/1/2031
Seasons 704 Apartments		Floating			84				33,960				4.84%		12/1/2031
The Preserve at Terrell Mill		Floating			84				74,341				4.84%		12/1/2031
The Summit at Sabal Park		Floating			84				26,735				4.84%		12/1/2031
Torreyana Apartments		Floating			84				43,153				4.84%		12/1/2031
Venue at 8651		Floating			84				24,620				4.84%		12/1/2031
Versailles		Floating			84				26,108				4.84%		12/1/2031
Sedona at Lone Mountain		Floating			84				40,287				4.98%		2/1/2033
									1,543,529
Fair market value adjustment									212		(2)
Deferred financing costs, net of accumulated amortization of $11,460									(30,405	)
								$	1,513,336

(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 September 30, 2026, SOFR was 3.75%.

(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 September 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, 2026		January 1, 2027		KeyBank		$	92,500				1.798	%
April 3, 2025		April 1, 2030		JPM			100,000				3.489	%
						$	192,500				2.676	%	(2)

(1)The floating rate option for the KeyBank interest rate swap is SOFR plus 0.11448% (“Adjusted SOFR”) and the floating rate option for the J.P. Morgan Chase Bank, N.A. ("JPM") swap is based on SOFR. As of September 30, 2026, Adjusted SOFR and SOFR were 3.86% and 3.75%, respectively.

(2)Represents the weighted average fixed rate of the interest rate swaps.

Interest Rate Cap Agreements

As of September 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 25

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

Debt Maturity Schedule

The following table summarizes our contractual obligations and commitments as of September 30, 2026 for the next five calendar years subsequent to September 30, 2026 and thereafter. We used the applicable reference rate as of September 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)			453,703				18,985				88,125				91,817				89,333				88,932				76,511
Total			$	1,997,232			$	18,985			$	88,125			$	125,634			$	89,333			$	88,932			$	1,586,223
Credit Facility
Principal payments			$	79,145			$	—			$	—			$	79,145			$	—			$	—			$	—
Interest expense				9,622				1,266				5,533				2,823				—				—				—
Total			$	88,767			$	1,266			$	5,533			$	81,968			$	—			$	—			$	—
Total contractual obligations and commitments			$	2,085,999			$	20,251			$	93,658			$	207,602			$	89,333			$	88,932			$	1,586,223

(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 September 30, 2026, we had entered into 2 interest rate swap transactions with a combined notional amount of $0.2 billion. We have allocated the total impact of expected settlements on the $0.2 billion notional amount of interest rate swaps to ‘Operating Properties Mortgage Debt.’ We used the applicable reference rate as of September 30, 2026 to determine our expected settlements through the terms of the interest rate swaps.

(1)As of September 30, 2026, we had total indebtedness of $1.6 billion at an adjusted weighted average interest rate of 4.75% of which $1.6 billion was debt with a floating interest rate. As of September 30, 2026, the interest rate swap agreements we have entered into effectively fix the interest rate on 13% 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 2.68% for the floating interest rate on the $0.2 billion notional amount of interest rate swap agreements that we have entered into as of September 30, 2026, which effectively fix the interest rate on the combined $0.2 billion of our floating rate mortgage debt outstanding.

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

NXRT.NEXPOINT.COM Page 26

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 September 30, 2026.

(2)Includes interior and exterior rehab.

NXRT.NEXPOINT.COM Page 27

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		Daytona 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 28

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 (gain) 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, 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 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 29

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

Reconciliations

Reconciliation of Debt to Net Debt

(dollar amounts in thousands)		Q3 2026				Q3 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			(15,803	)			(10,828	)
Restricted cash held for value-add upgrades			(5,459	)			(3,098	)
Net debt		$	1,601,412			$	1,489,316
Enterprise Value (1)		$	2,099,412			$	2,306,316
Leverage Ratio (Total Debt to Market Capitalization plus Total Debt)			77	%			65	%
Leverage Ratio (Net Debt to Enterprise Value)			76	%			65	%

(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 December 31, 2026
		Mid-Point (1)				Mid-Point (1)
Net loss		$	(43,012	)		$	(16,054	)
Adjustments to reconcile net loss to NOI:
Advisory and administrative fees			7,217				1,816
Corporate general and administrative expenses			19,055				4,928
Corporate income			(3,193	)			(783	)
Property general and administrative expenses	(2)		4,104				1,103
Depreciation and amortization			94,912				23,497
Interest expense			71,839				22,492
Casualty-related recoveries			(1,548	)			—
Equity in earnings of affiliate			(370	)			(80	)
NOI		$	149,004			$	36,919
Less Non-Same Store
Revenues	(3)		(6,528	)
Operating expenses	(3)		2,591
Same Store NOI	(3)	$	145,067

(1)Mid-Point estimates shown for full year and fourth quarter 2026 guidance. Assumptions made for full year and fourth 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 30

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		$	(43,012	)
Depreciation and amortization			94,912
Adjustment for noncontrolling interests			(205	)
FFO attributable to common stockholders			51,695
FFO per share - diluted (1)		$	2.02
Casualty-related recoveries			(1,548	)
Amortization of deferred financing costs			6,722
Mark-to-market adjustments of interest rate caps			(65	)
Adjustment for noncontrolling interests			(20	)
Core FFO attributable to common stockholders			56,784
Core FFO per share - diluted (1)		$	2.22
Equity-based compensation expense			10,722
Adjustment for noncontrolling interests			(42	)
AFFO attributable to common stockholders			67,464
AFFO per share - diluted (1)		$	2.64
Weighted average common shares outstanding - diluted			25,561

(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 June 30, 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 June 30, 2026				For the Year Ended December 31, 2025
Net loss		$	(8,645	)		$	(32,154	)
Adjustments to reconcile net loss to NOI:
Advisory and administrative fees			1,798				6,941
Corporate general and administrative expenses			4,711				17,945
Corporate income			(765	)			(1,666	)
Casualty-related expenses	(1)		90				264
Casualty loss			—				167
Property general and administrative expenses	(2)		1,088				4,010
Depreciation and amortization			23,893				95,752
Interest expense			15,829				60,735
Equity in earnings of affiliate			(105	)			(257	)
NOI		$	37,894			$	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 31

NEXPOINT RESIDENTIAL TRUST, INC. [NYSE:NXRT]

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

		For the Year Ended December 31, 2025
Net loss		$	(32,154	)
Depreciation and amortization			95,752
Adjustment for noncontrolling interests			(251	)
FFO attributable to common stockholders			63,347
FFO per share - basic		$	2.49
FFO per share - diluted		$	2.48
Casualty-related expenses			264
Casualty losses			167
Amortization of deferred financing costs			6,585
Mark-to-market adjustments of interest rate caps			961
Adjustment for noncontrolling interests			(31	)
Core FFO attributable to common stockholders			71,293
Core FFO per share - basic		$	2.81
Core FFO per share - diluted		$	2.79
Equity-based compensation expense			9,883
Adjustment for noncontrolling interests			(39	)
AFFO attributable to common stockholders			81,137
AFFO per share - basic		$	3.20
AFFO per share - diluted		$	3.18
Weighted average common shares outstanding - basic			25,390
Weighted average common shares outstanding - diluted	(1)		25,554
Dividends declared per common share		$	2.06
Net Loss Coverage - diluted	(2)	-0.61x
FFO Coverage - diluted	(2)	1.20x
Core FFO Coverage - diluted	(2)	1.35x
AFFO Coverage - diluted	(2)	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 32

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