Company: SRV
Filing Date: 2025-02-10
Form Type: N-CSR
Source: 0001398344-25-002262
Chunk: 30

Company: NXG Cushing Midstream Energy Fund
Filing Date: 2025-02-10
Form: N-CSR
Chunk 30
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.99% of the Fund’s Managed Assets (or 24.99% of the Fund’s net assets attributable to common shares) is used, the management fees, as a percentage of net assets attributable to common shares would be higher than as shown above. |

| (5) | The Investment Adviser has contractually agreed to waive a portion of the management fee in the amount equal to 0.25% of the Fund’s Managed Assets through February 1, 2025. The Fund’s annual expenses after giving effect to such management fee waiver are: |

| Annual Expenses                        |     | Percentage of Net Assets Attributable to Common Shares | -3 |
| Management fees(4)                     |     |                                                   1.56 |  % |
| Interest payments on borrowed funds(6) |     |                                                   1.31 |  % |
| Other expenses(7)                      |     |                                                   0.82 |  % |
| Total annual expenses                  |     |                                                   3.69 |  % |
| Fee Waiver                             |     |                                                  (0.31 | )% |
| Total annual expenses after fee waiver |     |                                                   3.38 |  % |

| (6) | Based upon the Fund’s outstanding borrowings as of November 30, 2024 of $48,315,000 million and the interest rate as of November 30, 2024, of 5.28%. |

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| (7) | “Other expenses” are estimated based upon those incurred during the fiscal period ended November 30, 2024. Other expenses do not include expense related to realized or unrealized investment gains or losses. See “Additional Information (Unaudited)—Management of the Fund—Fund Expenses.” |

EXAMPLE

As required by relevant SEC regulations, the following example illustrates the expenses that you would pay on a $1,000 investment in common shares, assuming (1) Total annualized expenses of 3.69% of net assets attributable to common shares and (2) a 5% annual return*:

|                         |     | 1 Year |    |     | 3 Years |     |     | 5 Years |     |     | 10 Years |     |
|:------------------------|:----|:-------|---:|:----|:--------|----:|:----|:--------|----:|:----|:---------|----:|
| Total