Company: SRV
Filing Date: 2025-11-17
Form Type: 424B2
Source: 0001398344-25-021029
Chunk: 63

Company: NXG Cushing Midstream Energy Fund
Filing Date: 2025-11-17
Form: 424B2
Chunk 63
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2022*  |     | Borrowings |     | $           |  7,315,000 |     | $         | 13,736 |
| November 30, 2021   |     | Borrowings |     | $           | 33,715,000 |     | $         |  3,399 |
| November 30, 2020   |     | Borrowings |     | $           | 13,915,000 |     | $         |  5,287 |
| November 30, 2019   |     | Borrowings |     | $           | 28,915,000 |     | $         |  3,411 |
| November 30, 2018   |     | Borrowings |     | $           | 26,050,000 |     | $         |  3,932 |
| November 30, 2017   |     | Borrowings |     | $           | 33,650,000 |     | $         |  3,407 |
| November 30, 2016   |     | Borrowings |     | $           | 49,454,000 |     | $         |  3,021 |
| November 30, 2015   |     | Borrowings |     | $           | 43,369,000 |     | $         |  3,136 |

| * | On November 30, 2022                                                                       
 the Fund reduced its borrowings by paying down $22 million outstanding under its borrowing 
 facility. As a result of the timing of this transaction, the Fund’s balance sheet as       
 of November 30, 2022 includes an amount due to the Fund’s custodian of $22 million,        
 which amount was eliminated when the pay down process was completed on December 1, 2022.   |

<div align='center'>11

THE
FUND</div>

NXG Cushing
Midstream Energy Fund (the “Fund”) was formed as a Delaware statutory trust on May 23, 2007 and is a non-diversified,
closed-end management investment company registered under the Investment Company Act of 1940 Act (the “1940 Act”). The Fund
commenced investment operations on August 27, 2007. The Fund’s principal office is located at One Energy Square, 4925 Greenville
Avenue, Suite 1310, Dallas, Texas