NexPoint extends its purchase offer to all shares of

DALLAS, November 29, 2021 (GLOBE NEWSWIRE) – NexPoint Advisors, LP, investment advisor to NexPoint Diversified Real Estate Trust (“NexPoint”), today announced the extension of the offer period for its previously announced offering to purchase any and all beneficial interest shares (the “Shares”) of United Development Funding IV (“UDFI” or the “Company”) at a price of $ 1.10 per share under the terms and subject to the conditions set out in the Offer to Purchase and in the Transfer Form corresponding to the Offer (which together constitute the “Offer” and the “Documents of the Takeover Offer”). Offer must now expire at midnight Eastern Time at the end of the day on December 28, 2021, unless the offer is extended or terminated earlier. The tender offer documents are available at www.UDFITenderOffer.com, or from the information agent for the offer, as set out below.

As previously announced on December 14, 2020, the Offer is conditional, among other things, on the satisfaction or waiver of the following conditions: (i) there will have been no threat, institution or expectation of any action or proceeding before a court or any governmental or administrative body (a) disputing the acquisition of Shares under the Offer or otherwise related in any way to the Offer, or (b) the sole judgment of NexPoint, otherwise significantly affecting the Company; (ii) NexPoint will have received all required government approvals, if any, for the Offer; (iii) NexPoint will have had an opportunity to perform sufficient due diligence to determine whether the offered price per share is reasonable having regard to the current financial condition and results of operations of UDFI; (iv) the UDFI Board of Directors will have waived in writing the ownership limitations set out in Section VII of the UDFI Declaration of Trust, as such limitations would otherwise apply to the Offer; and (v) NexPoint will have received satisfactory evidence that UDFI has continued to qualify as a real estate investment trust (“REIT”) under federal tax laws and thereby avoid any federal income or excise tax at the level of the government. ‘entity.

On January 8, 2021, UDFI announced that it had reduced the percentage of outstanding shares that a shareholder can hold from 9.8% to 5.0%. The Company has taken such action in order to thwart the Offer. He also announced that he had amended the company’s articles of association to require that certain lawsuits may only be brought on behalf of or against UDFI in certain courts in Maryland. NexPoint reviews these actions and their legality under applicable law.

Shareholders should carefully read the Offer to Purchase and related documents as they contain important information. Shareholders may obtain a free copy of the Offer to Purchase and the Assignment Form from DF King & Co., Inc., the Information Agent for the Offer (the “Information Agent”). by calling toll-free at (800) 331-7543. OFFER WILL EXPIRE AT MIDNIGHT EASTERN TIME AT THE END OF DAY DECEMBER 28, 2021 UNLESS THE OFFER IS EXTENDED OR ENDED BEFORE.

About NexPoint Diversified Real Estate Trust (NXDT)

NexPoint Diversified Real Estate Trust (NYSE: NXDT), formerly NexPoint Strategic Opportunities Fund (NYSE: NHF), is a closed-end fund managed by NexPoint Advisors, LP which is in the process of converting into a Diversified REIT. The name change took effect on November 8, 2021. On August 28, 2020, shareholders approved the conversion proposal and amended NXDT’s fundamental investment policies and restrictions to allow NXDT to continue its new business. NXDT has completed the repositioning of its investment portfolio sufficient to achieve REIT tax status and is operating in its 2021 tax year so that it may be eligible for tax as a REIT.NXDT has also realigned its portfolio so that it is no longer an “investment company” under the Investment Companies Act of 1940 (the “Act of 1940”). On March 31, 2021, NXDT filed with the Securities and Exchange Commission (the “SEC”) a request for an order under the 1940 Act declaring that NXDT no longer operates as an investment company ( the “expungement order”). During the SEC review process, NXDT will continue to be structured as a closed-end investment fund.

For more information, visit www.nexpoint.com/nexpoint-strategic-opportunities-fund

About NexPoint Advisors, LP

NexPoint Advisors, LP is an SEC registered adviser on the alternative investment platform NexPoint. He serves as an advisor to a range of funds and investment vehicles, including a closed-end fund, an interval fund, a business development company and various real estate vehicles. For more information, visit www.nexpoint.com

Risks and Disclosures

This document is for informational purposes only and does not constitute an offer to buy or the solicitation of an offer to sell UDFI ordinary shares or any other security. The offer to purchase common shares of UDFI will only be made pursuant to the offer to purchase, transfer form and related documents. THE BID OFFER MATERIAL (INCLUDING THE OFFER TO PURCHASE, ASSIGNMENT FORM AND CERTAIN OTHER BID OFFER DOCUMENTS) CONTAIN IMPORTANT INFORMATION. UDFI SHAREHOLDERS ARE INVITED TO READ THESE DOCUMENTS CAREFULLY WHEN THEY BECOME AVAILABLE AS THEY WILL CONTAIN IMPORTANT INFORMATION THAT SUCH SHAREHOLDERS SHOULD CONSIDER BEFORE MAKING ANY DECISIONS REGARDING THE OFFERING OF THEIR SHARES. Investors and securityholders may obtain a free copy of these statements (when available) by directing such requests to the Information Agent, by calling toll-free at (800) 331-7543.

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Media contact

Lucy bannon

lbannon@nexpoint.com

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