Nexpoint Real Estate Finance, Inc. · NYSE:NREF
Nexpoint Real Estate Finance — Q1 2026 Earnings Presentation
19 slides from Nexpoint Real Estate Finance's earnings presentation, Apr 30, 2026
Slide 1: 1Q 2026 Financial Supplement
NYSE:NREF 1Q 2026 Financial Supplement April 30, 2026 CONTACT NEXPOINT REAL ESTATE FINANCE INVESTOR RELATIONS (NYSE:NREF) Kristen Griffith 300 Crescent Court, Suite 700 (e) kgriffith@nexpoint.com Dallas, Texas 75201 (w) nref.nexpoint.com
Slide 2: Cautionary Statements
Cautionary Statements FORWARD LOOKING STATEMENTS This presentation 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 id
Slide 3: Company Overview
NexPoint Real Estate Finance Company Overview NexPoint Real Estate Finance, Inc. (“NREF” or the “Company”) is a publicly traded mortgage REIT, with its shares of common stock and 8.50% Series A Cumulative Redeemable Preferred Stock listed on the New York Stock Exchange. The Company concentrates on i
Slide 4: 1Q 2026 Highlights
1Q 2026 Highlights $433.7MM 1Q 2026 Dividend $22.6MM $13.5MM BOOK VALUE PAID ON NET INCOME 1 Q 2026 CASH $18.96 per common share, including MARCH 31, 2026 IN 1 Q 2026 AVAILABLE FOR FINANCIAL redeemable non-controlling interests Paid a 1Q 2026 dividend of $0.50 Net income attributable to common DISTR
Slide 5: 1Q 2026 Earnings And Book Value
1Q 2026 Earnings And Book Value Earnings and Book Value • Net interest income of $15.3MM, an increase of $4.2MM compared to 4Q 2025 • Net income of $22.6MM, with net income attributable to common stockholders of $10.0MM, or $0.42 per diluted common share; compared to a net income of $24MM, with net
Slide 6: Earnings per Share (EPS), EAD and CAD
Earnings per Share (EPS)1, EAD2 and CAD2 111.1 % EPS, EAD, CAD AND GUIDANCE 62.8 % EPS/EAD/CAD (22.9)% • Earnings per diluted share for 1Q 2026 17.5 % (57.9)% (5.9)% is $0.42, compared to earnings per (50.2)% 5.0 % (12.5)% (10.4)% –% (19.0)% diluted share of $0.48 reported in 4Q 2025 • 1Q 2026 EAD p
Slide 7: Dividend and Coverage
Dividend and Coverage Dividend and EPS/EAD/CAD Coverage 1Q 2026 DIVIDEND: • 1Q dividend of $0.50 per common share was paid on March 31, 2026 • 1Q 2026 EPS dividend coverage is 0.84x • 1Q 2026 EAD dividend coverage is 0.86x • 1Q 2026 CAD dividend coverage is 1.16x 2Q 2026 DIVIDEND: • 2Q 2026 dividend
Slide 8: Portfolio Commentary
Portfolio Commentary Defensive Portfolio Characteristics The current portfolio consists of senior loans, CMBS B-Pieces, CMBS I/O Strips, mezzanine debt, preferred equity, common stock investments, multifamily properties, promissory notes, preferred stock investments, revolving credit facilities and
Slide 9: Portfolio Commentary: Geographic and Asset Type Exposure
Portfolio Commentary1 Geographic and Asset Type Exposure1 MA 29% $1.1B CURRENT PRINCIPAL1 MD 5% CA 5% GA 5% TX 18% FL LESS THAN 4.0% OF TOTAL OUTSTANDING PRINCIPAL BALANCE 6% 59.9% WEIGHTED AVG LTV1 1. AS OF MARCH 31, 2026, AND EXCLUDING COMMON STOCK AND REVOLVING CREDIT FACILITY INVESTMENTS AND THE
Slide 10: 1Q 2026 Portfolio
1Q 2026 PORTFOLIO 10
Slide 11: 1Q 2026 Portfolio
1Q 2026 Portfolio $s IN 0,000s EXCEPT PER SHARE DATA # Investment (1) Location Property Type Investment Date Current Principal Amount Net Equity (2) Coupon (3) Remaining Term (4) Loan to Value DSCR Senior Loans 1 Senior Loan Various Single-family 2/11/2020 $ 7,350 $ 1,018 5.4 % 1.8 49.8 % 2 Senior L
Slide 12: 1Q 2026 Portfolio
1Q 2026 Portfolio $s IN 0,000s EXCEPT PER SHARE DATA # Investment (1) Location Property Type Investment Date Current Principal Amount Net Equity (2) Coupon (3) Remaining Term (4) Loan to Value DSCR Mezzanine Loans 1 Mezzanine Houston, TX Multifamily 6/12/2020 $ 5,000 $ 5,000 11.0 % 1.2 74.9 % 2 Mezz
Slide 13: 1Q 2026 Portfolio
1Q 2026 Portfolio $s IN 0,000s EXCEPT PER SHARE DATA # Investment (1) Location Property Type Investment Date Current Principal Amount Net Equity (2) Coupon (3) Remaining Term (4) Loan to Value DSCR Common Equity 1 Common Stock N/A Self-Storage 11/6/2020 N/A $ 24,893 N/A N/A N/A 2 Common Stock N/A Gr
Slide 14: Financials
FINANCIALS 14
Slide 15: Financials
Financials $s IN 0,000s EXCEPT PER SHARE DATA OR AS OTHERWISE INDICATED Income Statement Balance Sheet March 31, December 31, 2026 2025 March 31, December 31, For the Three Months Ended Cash and cash equivalents $ 22,643 $ 31,114 2026 2025 Restricted cash 2,604 3,240 Interest income $ 24,454 $ 22,21
Slide 16: Reconciliations
Reconciliations $s IN 0,000s EXCEPT PER SHARE DATA OR AS OTHERWISE INDICATED Reconciliation of 2Q 2026 Net Income to EAD 1. EAD PER DILUTED COMMON SHARE, CAD PER DILUTED COMMON SHARE AND THE RELATED COVERAGE RATIOS ARE BASED ON ADJUSTED WEIGHTED AVERAGE COMMON SHARES OUTSTANDING - DILUTED. ADJUSTED
Slide 17: Reconciliations
Reconciliations $s IN 0,000s EXCEPT PER SHARE DATA OR AS OTHERWISE INDICATED Reconciliation of 2Q 2026 EAD to CAD 1. EAD PER DILUTED COMMON SHARE, CAD PER DILUTED COMMON SHARE AND THE RELATED COVERAGE RATIOS ARE BASED ON ADJUSTED WEIGHTED AVERAGE COMMON SHARES OUTSTANDING - DILUTED. ADJUSTED WEIGHTE
Slide 18: Reconciliations
Reconciliations $s IN 0,000s EXCEPT PER SHARE DATA OR AS OTHERWISE INDICATED Reconciliation of Net Income (Loss) to Earnings Available for Distribution 1. STARTING IN Q2 2024, EAD PER DILUTED COMMON SHARE AND THE RELATED COVERAGE RATIO ARE BASED ON ADJUSTED WEIGHTED AVERAGE COMMON SHARES OUTSTANDING
Slide 19: Reconciliations
Reconciliations $s IN 0,000s EXCEPT PER SHARE DATA OR AS OTHERWISE INDICATED Reconciliation of Earnings Available for Distribution to CAD 1. STARTING IN Q2 2024, CAD PER DILUTED COMMON SHARE AND THE RELATED COVERAGE RATIO ARE BASED ON ADJUSTED WEIGHTED AVERAGE COMMON SHARES OUTSTANDING - DILUTED. AD
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