Company: SRV
Filing Date: 2025-11-17
Form Type: 424B2
Source: 0001398344-25-021029
Chunk: 66

Company: NXG Cushing Midstream Energy Fund
Filing Date: 2025-11-17
Form: 424B2
Chunk 66
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 or
less than those appearing in the table.

| Assumed portfolio total return (net of expenses) |     | (10.00)% |     | (5.00)%  |     | 0.00%   |     | 5.00% |     | 10.00% |
| Common Share total return                        |     | (17.54)% |     | (10.04)% |     | (2.54)% |     | 4.96% |     | 12.46% |

Common share total return is composed of two
elements: distributions on common shares paid by the Fund (the amount of which is largely determined by the Fund’s net investment
income after paying distributions or interest on its outstanding leverage) and gains or losses on the value of the securities the Fund
owns. As required by SEC rules, the table above assumes that the Fund is more likely to suffer capital losses than to enjoy capital appreciation.
For example, to assume a total return of 0%, the Fund must assume that the distributions it receives on its investments are entirely
offset by losses in the value of those securities.

During the time in which the Fund is utilizing
leverage, the amount of the fees paid to the Investment Adviser for investment advisory services will be higher than if the Fund did
not utilize such leverage because the fees paid will be calculated based on the Fund’s Managed Assets, which may create a conflict
of interest between the Investment Adviser and the common shareholders. Because the Fund’s leverage costs will be borne by the
Fund at a specified rate, only the Fund’s common shareholders will bear the cost associated with such leverage.

<div align='center'>RISKS</div>

Investors should consider the
specific risk factors and special considerations associated with investing in the Fund. An investment in the Fund is subject to investment
risk, including the possible loss of your entire investment. A Prospectus Supplement relating to an offering of the Fund’s securities
may identify additional risk associated with such offering.

The information contained under
the heading “Additional Information (Unaudited)—Risks” in the Fund’s Annual Report is incorporated herein by reference.

Additional risk factors associated
with offerings pursuant to this Prospectus include:

Recent Economic Developments Risks

There have recently been
significant changes to U.S. trade policies, treaties and tariffs, and in the future there may be additional significant changes. These
and any future developments, and continued uncertainty surrounding trade policies, treaties and tariffs