Exhibit 99.1 FOR IMMEDIATE RELEASE Contact: Kristen Thomas Director, Investor Relations KThomas@nexpoint.com Media: MediaRelations@nexpoint.com NREF Announces First Quarter 2024 Results, Provides Second Quarter 2024 Guidance Dallas, TX, May 2, 2024 – NexPoint Real Estate Finance, Inc. ("NREF" or the "Company") (NYSE: NREF) today reported its financial results for the quarter ended March 31, 2024. NREF reported a net loss of $(14.6) million, or $(0.83) per diluted share1, for the three months ended March 31, ...

DALLAS, May 2, 2024 /PRNewswire/ -- NexPoint Real Estate Finance, Inc. ("NREF" or the "Company") (NYSE: NREF) today reported its financial results for the quarter ended March 31, 2024. NREF reported a net loss of $(14.6) million, or $(0.83) per diluted share1, for the three months ended March 31, 2024. NREF reported cash available for distribution2 of $14.9 million, or $0.60 per diluted share1, for the three months ended March 31, 2024. "Amid challenging conditions in the commercial real estate market, NREF ...

DALLAS, May 2, 2024 /PRNewswire/ -- NexPoint Real Estate Finance, Inc. ("NREF" or the "Company") (NYSE: NREF) announced today that its board of directors has declared a quarterly regular dividend of $0.50 per share of NREF common stock. The dividend will be payable on June 28, 2024, to stockholders of record on June 14, 2024.  About NexPoint Real Estate Finance, Inc. NexPoint Real Estate Finance, Inc., is a publicly traded REIT, with its common stock and Series A Preferred Stock listed on the New York Stock ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________________ FORM 10-K __________________________________ (Mark One) x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-39210 __________________________________ NexP ...

10,101 $ 9,820 $ 11,546 $ 11,881 $ 9,591 $ 9,165 $ 11,091 $ 26,407 WEIGHTED AVERAGE DILUTED SHARES ASSUMES VESTING OF ALL OUTSTANDING UNVESTED RESTRICTED STOCK UNITS AND CONVERSION OF ALL REDEEMABLE NON-CONTROLLING INTERESTS Net Income (Loss) and EAD per Diluted Share 4Q 2023 Financial 1Q 2022 FINANCIAL SUPPLEMENT Supplement February 29, 2024 CONTACT 2 NexPoint Real Estate Finance 25.5% D I S C O U N T T O B O O K 1 NREF Total Return vs Peers4 BASED ON FEBRUARY 28, 2024, BOOK VALUE INCLUDING REDEEMABLE NON- ...

[Financial Performance and Highlights](index=1&type=section&id=Financial%20Performance%20and%20Highlights) NexPoint Real Estate Finance, Inc. (NREF) reported strong Q4 2023 financial results and maintained a robust, diversified portfolio with favorable metrics [Fourth Quarter 2023 Financial Results](index=1&type=section&id=Fourth%20Quarter%202023%20Financial%20Results) For the fourth quarter of 2023, NexPoint Real Estate Finance, Inc. (NREF) reported a net income of $17.9 million, or $0.74 per diluted share, with Cash Available for Distribution (CAD) at $11.8 million, or $0.51 per diluted share Q4 2023 Key Financial Metrics | Metric | Value | Per Diluted Share | | :--- | :--- | :--- | | Net Income | $17.9 million | $0.74 | | Cash Available for Distribution (CAD) | $11.8 million | $0.51 | - Management expressed confidence in the portfolio's stable and defensive returns despite a challenging commercial real estate market, highlighting plans to capitalize on disruptions in the multifamily, single-family rental, life sciences, and self-storage sectors[3](index=3&type=chunk) [Fourth Quarter 2023 Highlights](index=1&type=section&id=Fourth%20Quarter%202023%20Highlights) As of Q4 2023, NREF's total portfolio stood at $1.6 billion across 87 investments, heavily concentrated in single-family rental (46.0%) and multifamily (47.2%) debt, with strong metrics including a weighted-average LTV of 68.8% and a DSCR of 1.72x Portfolio Composition (Debt Portfolio) | Sector | Percentage of Portfolio | | :--- | :--- | | Single-family rental (SFR) | 46.0% | | Multifamily | 47.2% | | Life Sciences | 5.2% | | Self-storage | 1.5% | Key Portfolio Statistics (as of Dec 31, 2023) | Metric | Value | | :--- | :--- | | Total Portfolio Value | $1.6 billion | | Number of Investments | 87 | | Weighted-Average LTV | 68.8% | | Weighted-Average DSCR | 1.72x | - Key portfolio activities in Q4 2023 include making follow-on preferred equity investments of **$16.5 million** and originating a new preferred equity investment of **$15.3 million**[8](index=8&type=chunk) - The company received **$3.5 million** in preferred equity redemptions and **$29.5 million** in senior loan redemptions[8](index=8&type=chunk) - As of February 28, 2024, there are **no loans in forbearance** within the portfolio[8](index=8&type=chunk) [Future Outlook and Guidance](index=2&type=section&id=Looking%20Ahead%3A%20First%20Quarter%202024%20Guidance) NREF provides its financial outlook for Q1 2024, including key guidance metrics and the impact of a significant one-time amortization event [First Quarter 2024 Guidance](index=2&type=section&id=First%20Quarter%202024%20Guidance) For the first quarter of 2024, NREF provided guidance with a midpoint estimate for Earnings Available for Distribution (EAD) per diluted share at $(0.45) and Cash Available for Distribution (CAD) per diluted share at $0.58, significantly impacted by a one-time $29.5 million accelerated premium amortization Q1 2024 Guidance per Diluted Share | Metric | Low | Midpoint | High | | :--- | :--- | :--- | :--- | | Net Income (loss) per Share (EPS) | $(0.55) | $(0.50) | $(0.45) | | EAD per Share | $(0.50) | $(0.45) | $(0.40) | | CAD per Share | $0.53 | $0.58 | $0.63 | - The guidance for Net Income and EAD includes a **$29.5 million** accelerated amortization of premium associated with a senior loan prepayment in Q1 2024, which negatively impacts these metrics[11](index=11&type=chunk) [Supplemental Information](index=2&type=section&id=Supplemental%20Information) This section provides additional details including conference call information, reconciliation and definitions of non-GAAP financial measures, company background, and forward-looking statement disclaimers [Conference Call Details](index=2&type=section&id=Conference%20Call%20Details) The company scheduled a conference call for Thursday, February 29, 2024, at 11:00 a.m. ET to discuss its fourth-quarter 2023 financial results, with access details provided for phone and live webcast - A conference call to discuss Q4 2023 results was scheduled for February 29, 2024, at 11:00 a.m. ET, with access provided via telephone and a live webcast on the company's website[12](index=12&type=chunk)[13](index=13&type=chunk) [Reconciliation of Non-GAAP Financial Measures](index=3&type=section&id=Reconciliations%20of%20Non-GAAP%20Financial%20Measures) This section provides a detailed table reconciling GAAP net income attributable to common stockholders with the non-GAAP measures of Earnings Available for Distribution (EAD) and Cash Available for Distribution (CAD), showing a significant improvement from a net loss in Q4 2022 Reconciliation of Net Income to EAD and CAD (in thousands) | Metric | Q4 2023 | Q4 2022 | | :--- | :--- | :--- | | Net income (loss) attributable to common stockholders | $13,635 | $(3,733) | | EAD | $10,101 | $9,591 | | CAD | $11,760 | $10,203 | | EAD per Diluted Share | $0.44 | $0.42 | | CAD per Diluted Share | $0.51 | $0.45 | [Non-GAAP Financial Measures Definitions](index=4&type=section&id=Non-GAAP%20Financial%20Measures%20Definitions) The report defines its non-GAAP financial measures, Earnings Available for Distribution (EAD) and Cash Available for Distribution (CAD), noting their use for performance evaluation and distribution capacity, while acknowledging potential comparability differences with other REITs - **Earnings Available for Distribution (EAD)** is defined as **GAAP net income** adjusted for non-cash items like unrealized gains/losses and stock-based compensation, used to evaluate performance and the long-term ability to pay distributions[18](index=18&type=chunk)[20](index=20&type=chunk) - **Cash Available for Distribution (CAD)** is calculated by adjusting **EAD** for certain non-cash items like amortization of premiums, accretion of discounts, and depreciation, used to assess the current ability to pay distributions[18](index=18&type=chunk)[21](index=21&type=chunk) [About NexPoint Real Estate Finance, Inc.](index=4&type=section&id=About%20NexPoint%20Real%20Estate%20Finance%2C%20Inc.) NexPoint Real Estate Finance, Inc. is a publicly traded Real Estate Investment Trust (REIT) listed on the NYSE, primarily focused on originating, structuring, and investing in various real estate debt instruments, particularly within the multifamily sector - **NREF** is a publicly traded **REIT** on the **NYSE** focused on originating and investing in first-lien mortgage loans, mezzanine loans, preferred equity, and other multifamily-related securities[16](index=16&type=chunk) [Forward-Looking Statements](index=4&type=section&id=Forward-Looking%20Statements) This section contains a standard safe harbor statement, clarifying that statements regarding Q1 2024 guidance and future market opportunities are forward-looking and subject to risks and uncertainties, not guarantees of future performance - The press release includes **forward-looking statements** concerning Q1 2024 guidance and the company's ability to seize market opportunities, which are subject to risks and uncertainties and are not guarantees of future results[17](index=17&type=chunk)

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________________ FORM 10-Q __________________________________ (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-39210 ______________________________ ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________________ FORM 10-Q __________________________________ (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-39210 __________________________________ ...

NexPoint Real Estate Finance, Inc. (NYSE:NREF) Q2 2023 Earnings Conference Call July 27, 2023 11:00 AM ET Company Participants Kristen Thomas - Investor Relations Brian Mitts - Executive Vice President and Chief Financial Officer Matt Goetz - Senior Vice President, Investment and Asset Management Paul Richards - Vice President, Originations and Investments Matt McGraner - Executive Vice President and Chief Investment Officer Conference Call Participants Crispin Love - Piper Sandler Stephen Laws - Raymond Ja ...

[Cautionary Statement Regarding Forward-Looking Statements](index=4&type=section&id=Cautionary%20Statement%20Regarding%20Forward-Looking%20Statements) The report contains forward-looking statements concerning liquidity, capital resources, and operational results, which are based on current management beliefs and are subject to risks and uncertainties. The company cautions investors against relying on these statements as they are not guarantees of future performance[13](index=13&type=chunk)[14](index=14&type=chunk)[17](index=17&type=chunk) - Key risks that could cause actual results to differ materially from forward-looking statements include, but are not limited to: risks associated with debt-oriented real estate investments, interest rate fluctuations, substantial indebtedness, limited operating history, dependence on the external Manager, failure to qualify as a REIT, and a previously identified material weakness in internal controls[15](index=15&type=chunk)[18](index=18&type=chunk) [PART I—FINANCIAL INFORMATION](index=6&type=section&id=PART%20I%E2%80%94FINANCIAL%20INFORMATION) [Item 1. Financial Statements](index=6&type=section&id=Item%201.%20Financial%20Statements) This section presents NexPoint Real Estate Finance, Inc.'s unaudited consolidated financial statements for Q1 2023, detailing its financial position and performance [Consolidated Financial Statements](index=6&type=section&id=Consolidated%20Financial%20Statements) The company reported net income of **$9.4 million** for Q1 2023, with total assets decreasing to **$8.04 billion** and cash increasing to **$38.8 million** Consolidated Balance Sheet Highlights | Account | March 31, 2023 (in thousands) | December 31, 2022 (in thousands) | | :--- | :--- | :--- | | **Total Assets** | **$8,042,566** | **$8,154,136** | | Cash and cash equivalents | $38,830 | $20,048 | | Mortgage loans held in VIEs, at fair value | $6,747,377 | $6,720,246 | | **Total Liabilities** | **$7,569,590** | **$7,609,122** | | Bonds payable held in VIEs, at fair value | $6,278,734 | $6,249,804 | | **Total Stockholders' Equity** | **$377,264** | **$448,513** | Consolidated Statement of Operations Highlights | Account | Three Months Ended March 31, 2023 (in thousands) | Three Months Ended March 31, 2022 (in thousands) | | :--- | :--- | :--- | | Total net interest income | $3,949 | $22,315 | | Total other income (loss) | $10,949 | $1,814 | | Total operating expenses | $5,520 | $6,060 | | **Net income** | **$9,378** | **$18,069** | | **Net income attributable to common stockholders** | **$6,567** | **$12,406** | | **Earnings per share - basic** | **$0.38** | **$0.90** | | **Earnings per share - diluted** | **$0.37** | **$0.78** | [Notes to Consolidated Financial Statements](index=11&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) The notes detail the company's organization, accounting policies, and investment portfolio, including the CECL standard adoption - The company is a commercial mortgage REIT focused on originating and investing in first-lien mortgage loans, mezzanine loans, preferred equity, and various mortgage-backed securities, primarily in the multifamily, SFR, and self-storage sectors[30](index=30&type=chunk)[34](index=34&type=chunk) - Effective January 1, 2023, the company adopted the CECL standard (ASU 2016-13), resulting in a **$1.6 million** reduction in retained earnings due to an increased allowance for credit losses[65](index=65&type=chunk)[66](index=66&type=chunk) Loans Held-for-Investment Summary | Loan Type | Carrying Value (Mar 31, 2023) (in thousands) | Carrying Value (Dec 31, 2022) (in thousands) | | :--- | :--- | :--- | | Mortgage loans | $723,343 | $726,531 | | Mezzanine loans | $135,336 | $165,182 | | Preferred equity | $149,212 | $90,965 | | **Total** | **$1,007,891** | **$982,678** | - As of March 31, 2023, all 50 loans held-for-investment in the portfolio were internally rated as "3 - Satisfactory," indicating collateral performance is meeting or on track to meet underwriting expectations[104](index=104&type=chunk) - Effective January 1, 2023, the company deconsolidated its investment in the Elysian at Hughes Center multifamily property following a restructuring, recognizing a gain on deconsolidation of **$1.5 million**[130](index=130&type=chunk)[204](index=204&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=49&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the company's Q1 2023 financial performance, highlighting decreased net interest income and key non-GAAP metrics [Results of Operations](index=52&type=section&id=Results%20of%20Operations) Net income attributable to common stockholders decreased to **$6.6 million** in Q1 2023, primarily due to lower net interest income Comparison of Operating Results | Account | Q1 2023 (in thousands) | Q1 2022 (in thousands) | $ Change (in thousands) | % Change | | :--- | :--- | :--- | :--- | :--- | | Net interest income | $3,949 | $22,315 | $(18,366) | (82.3)% | | Other income (loss) | $10,949 | $1,814 | $9,135 | 503.6% | | Operating expenses | $(5,520) | $(6,060) | $540 | (8.9)% | | Net income | $9,378 | $18,069 | $(8,691) | (48.1)% | | Net income attributable to common stockholders | $6,567 | $12,406 | $(5,839) | (47.1)% | [Key Financial Measures and Indicators](index=53&type=section&id=Key%20Financial%20Measures%20and%20Indicators) Key financial metrics for Q1 2023 include diluted EPS, dividends, EAD, CAD, and book value per share EAD and CAD Reconciliation | Metric | Q1 2023 (in thousands) | Q1 2022 (in thousands) | | :--- | :--- | :--- | | Net income attributable to common stockholders | $6,567 | $12,406 | | **EAD attributable to common stockholders** | **$9,524** | **$19,591** | | EAD per Diluted Weighted-Average Share | $0.54 | $1.36 | | **CAD attributable to common stockholders** | **$9,956** | **$25,555** | | CAD per Diluted Weighted-Average Share | $0.56 | $1.78 | Book Value Per Share / Unit | Metric | March 31, 2023 | December 31, 2022 | | :--- | :--- | :--- | | Book value per share of common stock | $19.77 | $20.29 | | Combined book value per share / unit | $19.59 | $20.03 | [Our Portfolio](index=57&type=section&id=Our%20Portfolio) As of March 31, 2023, the company's portfolio consisted of 87 investments with a total principal balance of **$1.66 billion** and a carrying value of **$1.71 billion** Portfolio Overview as of March 31, 2023 | Metric | Total Portfolio | Floating Rate | Fixed Rate | | :--- | :--- | :--- | :--- | | Number of investments | 87 | 24 | 58 | | Principal balance (in thousands) | $1,655,145 | $368,748 | $1,286,397 | | Carrying value (in thousands) | $1,707,201 | $365,100 | $1,205,031 | | Weighted-average cash coupon | 5.67% | 9.13% | 4.68% | | Weighted-average all-in yield | 6.71% | 11.17% | 5.35% | [Liquidity and Capital Resources](index=60&type=section&id=Liquidity%20and%20Capital%20Resources) The company's liquidity, including **$40.3 million** in cash and equivalents, is deemed sufficient for the next twelve months - Cash and cash equivalents (including restricted cash) ended the quarter at **$40.3 million**, up from **$20.3 million** at the beginning of the period[279](index=279&type=chunk) - The company utilizes a Freddie Mac credit facility with a **$628.2 million** outstanding balance and master repurchase agreements with a **$350.4 million** outstanding balance as of March 31, 2023[270](index=270&type=chunk)[272](index=272&type=chunk) - The company is transitioning its LIBOR-indexed loans to SOFR, with the change expected to occur after June 30, 2023, and management anticipates an immaterial effect on interest rates[277](index=277&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=68&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) As a smaller reporting company, NexPoint Real Estate Finance, Inc. is not required to provide disclosures about market risk - Disclosure under this item is not required as the company qualifies as a smaller reporting company[309](index=309&type=chunk) [Controls and Procedures](index=68&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded disclosure controls were ineffective as of March 31, 2023, due to a material weakness, with remediation ongoing - Management, including the President and CFO, concluded that disclosure controls and procedures were not effective as of March 31, 2023, due to a previously identified material weakness[310](index=310&type=chunk) - A remediation plan is underway, which includes implementing pre- and post-close acquisition checklists to ensure proper accounting analysis of investment contracts and structures, but the material weakness will not be considered remediated until these controls are fully implemented and tested over a sufficient period[313](index=313&type=chunk)[315](index=315&type=chunk) [PART II—OTHER INFORMATION](index=70&type=section&id=PART%20II%E2%80%94OTHER%20INFORMATION) [Legal Proceedings](index=70&type=section&id=Item%201.%20Legal%20Proceedings) The company reports no material legal proceedings that would adversely affect its financial condition or operations - The company reports no material legal proceedings[319](index=319&type=chunk) [Risk Factors](index=70&type=section&id=Item%201A.%20Risk%20Factors) No material changes to the risk factors previously disclosed in the company's Annual Report on Form 10-K are reported - No material changes to risk factors from the most recent Form 10-K are reported[320](index=320&type=chunk) [Exhibits](index=71&type=section&id=Item%206.%20Exhibits) This section provides an index of exhibits filed with the Form 10-Q, including required certifications and Inline XBRL documents - The exhibit index lists required certifications and XBRL data files submitted with the report[327](index=327&type=chunk)