Company: SRV
Filing Date: 2025-11-17
Form Type: 424B2
Source: 0001398344-25-021029
Chunk: 19

Company: NXG Cushing Midstream Energy Fund
Filing Date: 2025-11-17
Form: 424B2
Chunk 19
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 upon the exercise of Rights; accordingly, Rights may be exercised only in
integer multiples of three, except that any Record Date Shareholder who owns fewer than three Common Shares as of the Record Date may
subscribe, at the Subscription Price (as defined on the next page), for one full Common Share. Assuming the exercise of all Rights, the
Offer will result in an approximately 33 1/3% increase in the Fund’s Common Shares outstanding.

Record Date Shareholders who exercise all the Rights
issued to them (other than those Rights that cannot be exercised because they represent the right to acquire less than one Common Share)
are entitled to subscribe for additional Common Shares at the same Subscription Price pursuant to the over-subscription privilege, subject
to certain limitations and subject to allotment. Investors who are not Record Date Shareholders, but who otherwise acquire Rights to purchase
Common Shares pursuant to the Offer, are not entitled to subscribe for any Common Shares pursuant to the over-subscription privilege.
See “—Over-Subscription Privilege” below. The distribution to Record Date Shareholders of transferable Rights may afford
non-participating Record Date Shareholders the opportunity to sell their Rights for some cash value, receipt of which may be viewed as
partial compensation for any economic dilution of their interests resulting from the Offer.

The subscription period commences on November 17,
2025 and ends at 5:00 p.m., Eastern time, on December 11, 2025, unless otherwise extended (the “Expiration Date”).

The Fund has declared a regular November monthly distribution
to Common Shareholders in an amount of $0.45 per share payable on November 28, 2025, with a record date of November 17, 2025,
which will not be payable with respect to Common Shares that are issued pursuant to the Offer. The Fund has also declared a regular December
monthly distribution to Common Shareholders in an amount of $0.45 per share payable on December 31, 2025, with a record date of December 2,
2025, which will not be payable with respect to Common Shares that are issued pursuant to the Offer after December 2, 2025.

For purposes of determining the maximum number of Common
Shares a Rights holder may acquire pursuant to the Offer, broker-dealers, trust companies, banks or others whose Common Shares are held
of record by Cede & Co., the nominee for DTC, or by any other depository or nominee, will be deemed