James Dondero, Chairman

James Dondero serves as President and Chairman of the Board of NXRT. Mr. Dondero is President of NexPoint Real Estate Advisors, L.P., the Dallas-based external manager of NXRT. He also serves as the President and as Chairman of the Board of NexPoint Real Estate Finance (NYSE: NREF) and the Chief Executive Officer of NexPoint Hospitality Trust, (TSX-V: NHT.U).

Brian Mitts, Director

Brian Mitts, CPA serves as Chief Financial Officer, EVP-Finance and Treasurer of NXRT; Chief Financial Officer, Executive Vice President- Finance, Secretary and Treasurer of NexPoint Real Estate Finance, Inc. (NYSE:NREF); and Chief Financial Officer and Corporate Secretary of NexPoint Hospitality Trust (TSX.V: NHT.U). Mr. Mitts has served as a member of the board of directors for NXRT and NREF. Mr. Mitts is also a member of the investment committee of NREA, the external advisor of NXRT, NREF and NHT. Mr. Mitts co-founded NexPoint Real Estate Advisors, L.P. ("NREA"), as well as NXRT and other real estate businesses with Mr. McGraner and Mr. Dondero. Currently, Mr. Mitts leads NexPoint’s financial reporting and accounting teams and is integral in financing and capital allocation decisions. Prior to co-founding NREA and NXRT, Mr. Mitts was Chief Operations Officer of Highland Funds Asset Management, L.P., the external advisor of open-end and closed-end funds where he managed the operations of these funds and helped develop new products. Mr. Mitts was also a co-founder of NexPoint Advisors, L.P., the parent of NREA. He has worked for NREA or its affiliates since 2007.

Ed Constantino, Director

Mr. Constantino has over 40 years of audit, advisory and tax experience working for two major accounting firms, Arthur Andersen LLP and KPMG LLP. Mr. Constantino retired from KPMG in late 2009, where he was an audit partner in charge of the firm’s real estate and asset management businesses. Mr. Constantino is, and since 2010 has been, a member of the Board of Directors of Patriot National Bankcorp and Patriot National Bank. He is also a member of the Board of Directors of ARC Property Trust, Inc. and a member of the Audit Committee of the New York City Housing Authority. Mr. Constantino also serves as a consultant for the law firm Skadden, Arps, Slate, Meagher & Flom LLP. He is a licensed CPA, a member of the American Institute of Certified Public Accountants and a member of the New York State Society of Public Accountants. He is currently a member of the Board of Trustees and the Audit Committee Chairman of St. Francis College in Brooklyn Heights, New York. Mr. Constantino was selected to serve on the NXRT Board because of his extensive accounting experience, particularly in the real estate field.

Scott Kavanaugh, Director

Mr. Kavanaugh is, and since December 2009 has been the CEO of First Foundation Inc. (“FFI”), a California based diversified financial services company with two wholly owned subsidiaries, First Foundation Bank First Foundation Advisors. Mr. Kavanaugh has been the Vice-Chairman of FFI since June 2007. He also is, and since September 2007 has been, the Chairman and CEO of First Foundation Bank. From June 2007 until December 2009, he served as President and Chief Operating Officer of FFI. Mr. Kavanaugh was a founding stockholder and served as Executive Vice President and Chief Administrative Officer and a member of the board of directors of Commercial Capital Bancorp, Inc., the parent holding company of Commercial Capital Bank, from 1999 until 2003. From 1998 until 2003, Mr. Kavanaugh served as the Executive Vice President and Chief Operating Officer and a director of Commercial Capital Mortgage. From 1993 to 1998, Mr. Kavanaugh was a partner and head of trading for fixed income and equity securities at Great Pacific Securities, Inc., a west coast-based regional securities firm. Mr. Kavanaugh is, and since 2008 has been, a member of the board of directors of Colorado Federal Savings Bank and its parent holding company, Silver Queen Financial Services, Inc. From 2013 to 2015, Mr. Kavanaugh served as a member of the boards of directors of NexBank SSB and its parent holding company, NexBank Capital, Inc., an affiliate of Highland. From January 2000 until June 2012, Mr. Kavanaugh served as Independent Trustee and Chairman of the Audit Committee, and from June 2012 until December 2013 served as Chairman of Highland Mutual Funds, a mutual fund group managed by Highland. Mr. Kavanaugh was selected to serve on the NXRT Board because of his expertise in multifamily lending, entrepreneurial executive leadership, finance, banking, real estate, and investment management along with his experience as both an executive officer and a director of multiple companies.

Dr. Arthur Laffer, Director

Dr. Arthur Laffer is the founder and chairman of Laffer Associates, an economic research and consulting firm. A former member of President Reagan’s Economic Policy Advisory Board during the 1980s, Dr. Laffer’s economic acumen and influence have earned him the distinction in many publications as The Father of Supply-Side Economics. He has served on several boards of directors of public and private companies, including staffing company MPS Group, Inc., which was sold to Adecco Group for $1.3 billion in 2009. Dr. Laffer was previously a consultant to Secretary of the Treasury William Simon, Secretary of Defense Donald Rumsfeld, and Secretary of the Treasury George Shultz. In the early 1970s, Dr. Laffer was the first to hold the title of Chief Economist at the Office of Management and Budget (OMB) under Mr. Shultz. Additionally, Dr. Laffer was formerly the Distinguished University Professor at Pepperdine University and a member of the Pepperdine Board of Directors. He also served as Charles B. Thornton Professor of Business Economics at the University of Southern California and as Associate Professor of Business Economics at the University of Chicago. Laffer is credited with advancing the concept of supply-side economics when he drew a curve on the back of a napkin at a dinner meeting, showing that government tax receipts can sometimes increase when federal income tax rates are lowered. The Laffer Curve and supply-side economics served as the foundation for Reaganomics in the 1980s when Dr. Laffer served on the President’s Economic Policy Advisory Board from 1981 to 1989. Dr. Laffer has been recognized for his achievements in economics, having been featured in Time Magazine’s 1999 cover story, The Century’s Greatest Minds, for inventing the Laffer Curve, which Time deemed one of a few of the advances that powered this extraordinary century.

Catherine Wood, Director

Ms. Wood is a director of NXRT. Ms. Wood also serves as Chief Executive Officer and Chief Investment Officer of ARK Investment Management LLC (“ARK”), which she registered as an investment adviser with the U.S. Securities and Exchange Commission in January 2014. Focused solely on disruptive innovation, ARK aims to identify large-scale investment opportunities in the public markets resulting from technological innovations centered around genome sequencing, robotics, artificial intelligence, energy storage, and blockchain technology. Prior to ARK, Cathie spent twelve years at AllianceBernstein as Chief Investment Officer of Global Thematic Strategies where she managed over $5 billion. Cathie joined Alliance Capital from Tupelo Capital Management, a hedge fund she co-founded which, in 2000, managed $800 million in global thematic strategies. Prior to her tenure at Tupelo Capital, she worked for 18 years with Jennison Associates as Chief Economist, Equity Research Analyst, Portfolio Manager and Director. She started her career in Los Angeles, California at The Capital Group as an Assistant Economist. Cathie received her Bachelor of Science, summa cum laude, in Finance and Economics from the University of Southern California in 1981. In 2018, editors at Bloomberg acknowledged Cathie by selecting her to its second annual Bloomberg 50 list of people across business, entertainment, finance, politics, technology, and science who have defined global business. Additionally, Fortune named Cathie to its exclusive roundtable of experts in the annual Fortune Investors Guide: The Best Investing Advice for 2019 From Fortune’s Experts. In 2016, Cathie received the “Women in Finance – Outstanding Contribution Award” from Market Media, and she was a featured speaker at the World Economic Forum (China) in 2016 & 2017, and the World Strategic Forum (Miami) in 2017.