NexPoint Residential Trust, Inc.

Properties by State · Location · Numberof Units · DateAcquired · PurchasePrice(in thousands) · Average EffectiveMonthly RentPer Unit (1) · % Occupied(2) · Number ofUnitsRehabbed (3) · RehabExpendituresper Unit (4)

Texas

Arbors on Forest Ridge · Bedford, Texas · 210 · 1/31/2014 · 12,805 · 1,136 · 96.2 · 173 · 4,143

Cutter's Point · Richardson, Texas · 196 · 1/31/2014 · 15,845 · 1,428 · 91.3 · 159 · 5,845

Versailles · Dallas, Texas · 388 · 2/26/2015 · 26,165 · 1,105 · 85.8 · 390 · 5,019

Venue at 8651 · Fort Worth, Texas · 333 · 10/30/2015 · 19,250 · 1,152 · 95.8 · 327 · 6,302

Atera Apartments · Dallas, Texas · 380 · 10/25/2017 · 59,200 · 1,470 · 92.4 · 248 · 3,249

Versailles II · Dallas, Texas · 242 · 9/26/2018 · 24,680 · 1,092 · 86.4 · 93 · 4,021

Summers Landing · Fort Worth, Texas · 196 · 6/7/2019 · 19,396 · 1,170 · 88.7 · 83 · 8,612

Florida

The Summit at Sabal Park · Tampa, Florida · 252 · 8/20/2014 · 19,050 · 1,368 · 93.3 · 228 · 5,477

Courtney Cove · Tampa, Florida · 324 · 8/20/2014 · 18,950 · 1,323 · 90.4 · 299 · 4,438

Sabal Palm at Lake Buena Vista · Orlando, Florida · 400 · 11/5/2014 · 49,500 · 1,650 · 93.8 · 138 · 8,574

Cornerstone · Orlando, Florida · 430 · 1/15/2015 · 31,550 · 1,382 · 90.0 · 500 · 4,642

Seasons 704 Apartments · West Palm Beach, Florida · 222 · 4/15/2015 · 21,000 · 1,830 · 95.9 · 222 · 7,160

Parc500 · West Palm Beach, Florida · 217 · 7/27/2016 · 22,421 · 1,941 · 95.9 · 245 · 13,101

Avant at Pembroke Pines · Pembroke Pines, Florida · 1,520 · 8/30/2019 · 322,000 · 2,233 · 94.1 · 716 · 16,208

Residences at West Place · Orlando, Florida · 342 · 7/17/2019 · 55,000 · 1,591 · 92.7 · 161 · 11,316

Nevada

Bella Solara · Las Vegas, Nevada · 320 · 11/22/2019 · 66,500 · 1,335 · 88.4 · 135 · 9,685

Bloom · Las Vegas, Nevada · 528 · 11/22/2019 · 106,500 · 1,313 · 92.8 · 161 · 12,611

Torreyana Apartments · Las Vegas, Nevada · 316 · 11/22/2019 · 68,000 · 1,479 · 90.5 · 65 · 11,022

Sedona at Lone Mountain · Las Vegas, Nevada · 321 · 12/11/2025 · 73,250 · 1,592 · 91.6 · — · —

Georgia

The Preserve at Terrell Mill · Marietta, Georgia · 752 · 2/6/2015 · 58,000 · 1,296 · 91.2 · 798 · 10,417

Rockledge Apartments · Marietta, Georgia · 708 · 6/30/2017 · 113,500 · 1,481 · 93.3 · 561 · 9,052

The Adair · Sandy Springs, Georgia · 232 · 4/1/2022 · 65,500 · 1,942 · 95.3 · 165 · 11,370

Tennessee

Brandywine I & II · Nashville, Tennessee · 632 · 9/26/2018 · 79,800 · 1,170 · 91.3 · 587 · 10,444

Arbors of Brentwood · Nashville, Tennessee · 346 · 9/10/2019 · 62,250 · 1,415 · 92.2 · 170 · 9,293

Residences at Glenview Reserve · Nashville, Tennessee · 360 · 7/17/2019 · 45,000 · 1,248 · 93.9 · 299 · 12,809

Arizona

Madera Point · Mesa, Arizona · 256 · 8/5/2015 · 22,525 · 1,273 · 96.1 · 282 · 4,295

The Venue on Camelback · Phoenix, Arizona · 415 · 10/11/2016 · 44,600 · 951 · 92.5 · 294 · 9,837

Bella Vista · Phoenix, Arizona · 248 · 1/28/2019 · 48,400 · 1,590 · 96.4 · 209 · 10,125

The Enclave · Tempe, Arizona · 204 · 1/28/2019 · 41,800 · 1,720 · 94.6 · 175 · 9,725

The Heritage · Phoenix, Arizona · 204 · 1/28/2019 · 41,900 · 1,593 · 92.6 · 185 · 9,170

Fairways at San Marcos · Chandler, Arizona · 352 · 11/2/2020 · 84,480 · 1,529 · 96.0 · 190 · 10,166

Estates on Maryland · Phoenix, Arizona · 330 · 4/1/2022 · 77,900 · 1,400 · 93.9 · 144 · 11,005

North Carolina

The Verandas at Lake Norman · Charlotte, North Carolina · 264 · 6/30/2021 · 63,500 · 1,341 · 94.3 · 93 · 9,578

Creekside at Matthews · Charlotte, North Carolina · 240 · 6/30/2021 · 58,000 · 1,461 · 92.9 · 106 · 8,935

Six Forks Station · Raleigh, North Carolina · 323 · 9/10/2021 · 74,760 · 1,347 · 93.5 · 142 · 11,760

High House at Cary · Cary, North Carolina · 302 · 12/7/2021 · 93,250 · 1,466 · 92.4 · 144 · 11,372

Total · 13,305 · 2,106,227 · 1,492 · 92.7 · 8,887 · 9,115

Average effective monthly rent per unit is equal to the contractual rent for commenced leases as of December 31, 2025 minus any tenant concessions over the term of the lease, divided by the number of units under commenced leases as of December 31, 2025.

Percent occupied is calculated as the number of units occupied as of December 31, 2025, divided by the total number of units, expressed as a percentage.

Inclusive of all full and partial interior upgrades completed.

Inclusive of all full and partial interior upgrades completed and leased as of December 31, 2025.

Includes the 21 downed units excluded from our 2024-2025 Same Store pool (see Note 4 to our consolidated financial statements).

For additional information regarding our Portfolio, see Notes 3 and 4 to our consolidated financial statements.

• FRBH Silverbrook, LLC Delaware⁴
• FRBH Timberglen, LLC Delaware⁴
• FRBH Willow Grove SM, Inc. Delaware⁴
• FRBH Willow Grove, LLC Delaware⁴
• FRBH Woodbridge SM, Inc. Delaware⁴
• FRBH Woodbridge, LLC Delaware⁴
• Freedom C1 Residential, LLC Delaware⁴
• Freedom Duck Creek, LLC Delaware⁴
• Freedom Edgewater, LLC Delaware⁴
• Freedom JAX-TPA Residential, LLC Delaware⁴
• Freedom Miramar Apartments, LLC Delaware⁴
• Freedom Willowdale, LLC Delaware⁴
• HRT North Atlanta, LLC Delaware⁴
• HRT Timber Creek, LLC Delaware⁴
• HRTBH North Atlanta, LLC Delaware⁴
• NXRT AZ2, LLC Delaware⁴
• NXRT Abbington, LLC Delaware⁴
• NXRT Atera II, LLC Delaware⁴
• NXRT Atera, LLC Delaware⁴
• NXRT Barrington Mill, LLC Delaware⁴
• NXRT Brandywine GP I, LLC Delaware⁴
• NXRT Brandywine GP II, LLC Delaware⁴
• NXRT Cedar Pointe Tenant, LLC Texas⁴
• NXRT Cedar Pointe, LLC Delaware⁴
• NXRT Cityview, LLC Delaware⁴
• NXRT Cornerstone, LLC Delaware⁴
• NXRT Crestmont, LLC Delaware⁴
• NXRT Fairways at San Marcos Owner, LLC Delaware⁴
• NXRT Glenview, LLC Delaware⁴
• NXRT H2 TRS, LLC Delaware⁴
• NXRT Heritage, LLC Delaware⁴
• NXRT High House, LLC Delaware⁴
• NXRT Hollister TRS, LLC Delaware⁴
• NXRT Hollister, LLC Delaware⁴
• NXRT Matthews, LLC Delaware⁴
• NXRT NLMF Member, LLC Delaware⁴
• NXRT Nashville Residential, LLC Delaware⁴
• NXRT North Dallas 3, LLC Delaware⁴
• NXRT PHX 3, LLC Delaware⁴
• NXRT Radbourne Lake, LLC Delaware⁴
• NXRT Rockledge, LLC Delaware⁴
• NXRT SM, Inc. Delaware⁴
• NXRT Sabal Palms, LLC Delaware⁴
• NXRT Sedona, LLC Delaware⁴
• NXRT Six Forks, LLC Delaware⁴
• NXRT Steeplechase, LLC Delaware⁴
• NXRT Stone Creek, LLC Delaware⁴
• NXRT Summers Landing GP, LLC Delaware⁴
• NXRT West Place, LLC Delaware⁴
• NXRTBH AZ2, LLC Delaware⁴
• NXRTBH Barrington Mill Owner, LLC Delaware⁴
• NXRTBH Barrington Mill SM, Inc. Delaware⁴
• NXRTBH Barrington Mill, LLC Delaware⁴
• NXRTBH Bayberry, LLC Delaware⁴
• NXRTBH Cityview, LLC Delaware⁴
• NXRTBH Colonnade, LLC Delaware⁴
• NXRTBH Cornerstone Owner, LLC Delaware⁴
• NXRTBH Cornerstone SM, Inc. Delaware⁴
• NXRTBH Cornerstone, LLC Delaware⁴
• NXRTBH Dana Point SM, Inc. Delaware⁴
• NXRTBH Dana Point, LLC Delaware⁴
• NXRTBH Foothill SM, Inc. Delaware⁴
• NXRTBH Foothill, LLC Delaware⁴
• NXRTBH Heatherstone SM, Inc. Delaware⁴
• NXRTBH Heatherstone, LLC Delaware⁴
• NXRTBH Hollister Tenant, LLC Texas⁴
• NXRTBH Hollister, LLC Delaware⁴
• NXRTBH Madera SM, Inc. Delaware⁴
• NXRTBH Madera, LLC Delaware⁴
• NXRTBH McMillan, LLC Delaware⁴
• NXRTBH North Dallas 3, LLC Delaware⁴
• NXRTBH Old Farm II, LLC Delaware⁴
• NXRTBH Old Farm Tenant, LLC Delaware⁴
• NXRTBH Old Farm, LLC Delaware⁴
• NXRTBH Radbourne Lake, LLC Delaware⁴
• NXRTBH Rockledge, LLC Delaware⁴
• NXRTBH Sabal Palms, LLC Delaware⁴
• NXRTBH Steeplechase, LLC Delaware⁴
• NXRTBH Stone Creek, LLC Delaware⁴
• NXRTBH Vanderbilt, LLC Delaware⁴
• NXRTBH Versailles SM, Inc. Delaware⁴
• NXRTBH Versailles, LLC Delaware⁴
• NexPoint Captive Insurance Company, Inc. Montana⁴
• NexPoint Residential Trust Operating Partnership GP, LLC Delaware⁴
• NexPoint Residential Trust Operating Partnership, L.P. Delaware⁴
• Pear Ridge Partners, LLC Delaware⁴
• RTT Hollister, LLC Texas⁴
• RTT Rockledge, LLC Texas⁴
• SOF Brandywine I Owner, L.P. Delaware⁴
• SOF Brandywine II Owner, L.P. Delaware⁴
• SOF-X GS Owner, L.P. Delaware⁴

• The relatively low or declining residential mortgage rates may result in potential renters purchasing residences rather than leasing them, and as a result, cause a decline in our occupancy rates.
• We depend on our residents for substantially all of our revenues. Poor resident selection and defaults and nonrenewals by our residents may adversely affect our reputation, financial performance and ability to make distributions.
• We may fail to consummate future property acquisitions, and we may not be able to find suitable alternative investment opportunities.
• Acquisitions may not yield anticipated results, which could negatively affect our financial condition and results of operations.
• We are subject to certain risks associated with selling apartment communities, which could limit our operational and financial flexibility.
• We may be subject to contingent or unknown liabilities related to properties or businesses that we have acquired or may acquire for which we may have limited or no recourse against the sellers.
• We are subject to losses that are either uninsurable, not economically insurable or that are in excess of our insurance coverage.
• Compliance with various laws and regulations, including accessibility, building and health and safety laws and regulations, may be costly, may adversely affect our operations or expose us to liability.
• We may obtain only limited warranties when we acquire a property and may only have limited recourse if our due diligence did not identify any issues that may subject us to unknown liabilities or lower the value of our property, which could adversely affect our financial condition and ability to make distributions to you.
• Representations and warranties made by us in connection with sales of our properties may subject us to liability that could result in losses and could harm our operating results and, therefore, distributions we make to our stockholders.
• Short-term apartment leases expose us to the effects of declining market rent, which could adversely affect our ability to make cash distributions to our stockholders.
• We may be subject to risks involved in real estate activity through joint ventures.
• The Company’s real estate assets may be subject to impairment charges.
• Our business and reputation depend on our ability to continue providing high quality housing and consistent operation of our communities, the failure of which could adversely affect our business, financial condition and results of operations.
• We are dependent on a concentration of our investments in a single asset class, making our results of operations more vulnerable to a downturn in the sector.
• Risks Related to Health and the Environment
• Our environmental assessments may not identify all potential environmental liabilities and our remediation actions may be insufficient.
• We may face high costs associated with the investigation or remediation of environmental contamination, including asbestos, lead-based paint, chemical vapor, subsurface contamination and mold growth.
• Risk of Pandemics or Other Health Crises.
• Risks Related to Indebtedness
• Variable rate debt is subject to interest rate risk, which could increase our interest expense, increase the cost to refinance and increase the cost of issuing new debt.
• We may incur mortgage indebtedness and other borrowings, which we have broad authority to incur, that may increase our business risks and decrease the value of your investment.
• We have a substantial amount of indebtedness, which may limit our financial and operating activities and may adversely affect our ability to incur additional debt to fund future needs.
• We may be unable to refinance current or future indebtedness on favorable terms, if at all.
• Our debt agreements include restrictive covenants, which could limit our flexibility and our ability to make distributions.
• If we are required to make payments under any “bad boy” carve out guarantees that we have provided in connection with certain mortgages and related loans, our business and financial results could be materially adversely affected.
• Derivatives and hedging activity could adversely affect cash flow.
• Risks Related to Our Structure
• The Chapter 11 bankruptcy filing by Highland Capital Management, L.P. (“Highland”) may have materially adverse consequences on our business, financial condition and results of operations.
• Litigation against James Dondero and others may have materially adverse consequences on our business, financial condition and results of operations.
• We depend upon key personnel of our Adviser and its affiliates and our property manager.
• We may not replicate the historical results achieved by other entities managed or sponsored by affiliates of our Adviser, or members of our Adviser’s management team.
• Our Adviser can resign on 30 days’ notice from its role as adviser, and we may not be able to find a suitable replacement within that time, resulting in a disruption in our operations that could adversely affect our financial condition, business, and results of operations and cash flows.
• You will have limited control over changes in our policies and operations, which increases the uncertainty and risks you face as a stockholder.
• We may change our targeted investments without stockholder consent.
• We pay substantial fees and expenses to our Adviser and its affiliates and to our property manager, which payments increase the risk that you will not earn a profit on your investment.
• If we internalize our management functions, the percentage of our outstanding common stock owned by our other stockholders could be reduced, and we could incur other significant costs associated with being self-managed.
• There are significant potential conflicts of interest that could affect our investment returns.
• Our Adviser faces conflicts of interest relating to the fee structure under our Advisory Agreement, which could result in actions that are not necessarily in the long-term best interest of our stockholders.
• Our Adviser, Sponsor and their officers and employees face competing demands relating to their time, and this may cause our operating results to suffer.
• We may compete with other entities affiliated with our Sponsor and property manager for residents.
• Risks Related to Legal, Regulatory, Tax and Accounting
• Our failure to qualify as a REIT for U.S federal income tax purposes would reduce the amount of income we have available for distribution and limit our ability to make distributions to our stockholders.
• If our OP failed to qualify as a partnership or is not otherwise disregarded for U.S. federal income tax purposes, we would cease to qualify as a REIT.
• Complying with REIT requirements may force us to liquidate otherwise attractive investments.
• Complying with REIT requirements may limit our ability to hedge our liabilities effectively and may cause us to incur tax liabilities.
• Even if we qualify as a REIT, we may face other tax liabilities that reduce our cash flows.
• Our ownership of interests in TRSs raises certain tax risks.
• The sale of certain properties could result in significant tax liabilities unless we are able to defer the taxable gain through 1031 Exchanges.
• Certain of our business activities are potentially subject to the prohibited transaction tax, which could reduce the return on your investment.
• To continue qualifying as a REIT, we must meet annual distribution requirements, which may force us to forgo otherwise attractive opportunities or borrow funds during unfavorable market conditions. This could delay or hinder our ability to meet our investment objectives and reduce your overall return.
• Dividends payable by REITs generally do not qualify for the reduced tax rates available for some dividends.
• The share ownership restrictions of the Code for REITs and the 6.2% share ownership limit in our charter may inhibit market activity in shares of our stock and restrict our business combination opportunities.
• The ability of the Board to revoke our REIT qualification without stockholder approval may cause adverse consequences to our stockholders.
• New legislation or administrative or judicial action, in each instance potentially with retroactive effect, could make it more difficult or impossible for us to qualify or remain qualified as a REIT.
• Recent changes in tax law may impact our stockholders or us.
• Foreign investors may be subject to U.S. federal withholding tax and may be subject to U.S. federal income tax on distributions received from us and upon disposition of shares of our common stock.
• We and our subsidiaries and stockholders may be subject to state, local or foreign tax filing and payment obligations taxation in various jurisdictions including those in which we or they transact business, own property or reside.
• Risks Related to the Ownership of our Common Stock
• Our common stock is listed on the NYSE and NYSE Texas and broad market fluctuations could negatively affect the market price of our stock.
• The form, timing and/or amount of dividend distributions in future periods may vary and be impacted by economic and other considerations.
• We may be unable to make distributions at expected levels, which could result in a decrease in the market price of our common stock.
• Our charter permits the Board to issue stock with terms that may subordinate the rights of our common stockholders or discourage a third party from acquiring us in a manner that could otherwise result in a premium price to our stockholders.
• Future issuances of debt securities and equity securities may negatively affect the market price of shares of our common stock and, in the case of equity securities, may be dilutive to existing stockholders and could reduce the overall value of your investment.
• Our rights and the rights of our stockholders to recover claims against our independent directors are limited, which could reduce your and our recovery against them if they negligently cause us to incur losses.
• Our charter and bylaws contain provisions that may delay, defer or prevent an acquisition of our common stock or a change in control.
• Certain provisions of Maryland law may limit the ability of a third party to acquire control of us.
• Our bylaws designate the Circuit Court for Baltimore City, Maryland as the sole and exclusive forum for certain types of actions and proceedings that may be initiated by our stockholders and provide that claims relating to causes of action under the Securities Act may only be brought in federal district courts, which could limit stockholders' ability to obtain a favorable judicial forum for disputes with us or our directors, officers or employees and could discourage lawsuits against us and our directors, officers and employees.