Company: SRV
Filing Date: 2025-01-14
Form Type: 424B2
Source: 0001398344-25-000635
Chunk: 30

Company: NXG Cushing Midstream Energy Fund
Filing Date: 2025-01-14
Form: 424B2
Chunk 30
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 Common Shares may decline when interest rates rise.                                                         |

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| Interest                                                                                                                               
 Rate Hedging Risk. The Fund may from time to time hedge against interest rate risk resulting from the Fund’s portfolio                 
 holdings and any financial leverage it may incur. Interest rate transactions the Fund may use for hedging purposes will expose the     
 Fund to certain risks that differ from the risks associated with its portfolio holdings. There are economic costs of hedging reflected 
 in the price of interest rate swaps, caps and similar techniques, the cost of which can be significant. In addition, the Fund’s        
 success in using hedging instruments is subject to the Investment Adviser’s ability to correctly predict changes in the relationships  
 of such hedging instruments to the Fund’s leverage risk, and there can be no assurance that the Investment Adviser’s                   
 judgment in this respect will be accurate. See “Risks—Interest Rate Hedging Risk.”                                                     |
| Arbitrage                                                                                                                              
 Risk. A part of the Investment Adviser’s investment operations may involve spread positions between two or more securities,            
 or derivatives positions including commodities hedging positions, or a combination of the foregoing. The Investment Adviser’s          
 trading operations also may involve arbitraging between two securities or commodities, between the security, commodity and related     
 options or derivatives markets, between spot and futures or forward markets, and/or any combination of the above. To the extent the    
 price relationships between such positions remain constant, no gain or loss on the positions will occur. These offsetting positions    
 entail substantial risk that the price differential could change unfavorably, causing a loss to the position. Certain derivatives      
 transactions have economic characteristics similar to leverage.                                                                        |
| Equity                                                                                                                                 
 Securities Risk. Master limited partnership common units and other equity securities of midstream energy companies can be affected     
 by macroeconomic, political, global and other factors affecting the stock market in general, expectations of interest rates, investor  
 sentiment towards midstream energy companies specifically or the natural resources sector generally, changes in a particular company’s 
 financial condition, or the unfavorable or unanticipated poor performance of a particular midstream energy companies.                  |
| Small-Cap                                                                                                                              
 and Mid-Cap Company Risk. Investing in the securities of companies with small or medium-sized market capitalizations (“small-cap”      
 and “mid-cap” companies, respectively) presents some particular investment risks. Small-cap and mid-cap midstream energy               
 companies may have limited product lines and markets, as well as shorter operating histories,