Company: SRV
Filing Date: 2025-11-17
Form Type: 424B2
Source: 0001398344-25-021029
Chunk: 139

Company: NXG Cushing Midstream Energy Fund
Filing Date: 2025-11-17
Form: 424B2
Chunk 139
---
 the sale or exchange of Common Shares held for
six months or less will be treated as long-term capital loss to the extent of any capital gain dividends received (including amounts credited
as an undistributed capital gain) by the U.S. shareholder. Any loss a U.S. shareholder realizes on a sale or exchange of Common Shares
will be disallowed if the U.S. shareholder acquires other Common Shares (whether through the automatic reinvestment of dividends or otherwise)
within a 61-day period beginning 30 days before and ending 30 days after the U.S. shareholder’s sale or exchange of the Common Shares.
In such case, the basis of the Common Shares acquired will be adjusted to reflect the disallowed loss. Present law taxes both long-term
and short-term capital gains of corporations at the rates applicable to ordinary income. For non-corporate taxpayers, short-term capital
gain is taxed at the U.S. federal income tax rates applicable to ordinary income, while long-term capital gain generally is taxed at a
reduced maximum U.S. federal income tax rate.

U.S. shareholders may be entitled
to offset their capital gains with capital losses. There are several provisions of the Code affecting when capital losses may offset capital
gain, and limiting the use of losses from certain investments and activities. Accordingly, U.S. shareholders with capital losses are urged
to consult their tax advisors.

An investor should be aware
that if Common Shares are purchased shortly before the record date for any taxable distribution (including a capital gain dividend), the
purchase price likely will reflect the value of the distribution and the investor then would receive a taxable distribution likely to
reduce the trading value of such Common Shares, in effect resulting in a taxable return of some of the purchase price.

<div align='center'>S-21</div>

Dividends and other taxable
distributions will be taxable to you even though they are reinvested in additional Common Shares. The Fund has the ability to declare
distributions payable in cash or Common Shares at the election of each U.S. shareholder. As long as a large enough portion of such dividend
is available to be paid in cash (20% under current guidance) and certain requirements are met, the entire distribution will be treated
as a dividend for U.S. federal income tax purposes. As a result, U.S. shareholders will be taxed on 100% of the dividend in the same manner
as a cash dividend, even though most of the dividend was paid in Common Shares.

Divid