Company: SRV
Filing Date: 2025-03-10
Form Type: PRE 14A
Source: 0001398344-25-005333
Chunk: 1

Company: NXG Cushing Midstream Energy Fund
Filing Date: 2025-03-10
Form: PRE 14A
Chunk 1
---
 provide an outline of the business to be conducted at the Annual Meeting.

At the Annual Meeting you will be asked to elect Trustee
nominees to the Board of Trustees of each Fund.

In addition, you will be asked to approve a new investment
advisory agreement between each Fund and its investment adviser, Cushing Asset Management, LP (the “”). These
new investment advisory agreements are in response to anticipated changes to the ownership of the Adviser. Jerry V. Swank the founder
and majority shareholder owner of the Adviser has agreed to reduce his ownership of the Adviser, held directly and indirectly through
Swank Capital, LLC, the general partner of the Adviser which is wholly owned by Mr. Swank, over time along with a commensurate increase
in ownership of the Adviser by NXG Cushing, LLC, an entity owned by certain employees of the Adviser. It is expected that eventually Mr. Swank
will divest his entire interest in the Adviser and NXG Cushing, LLC will hold 100% of the interests in the Adviser. The Adviser does not expect the change in its ownership to result in any changes to the investment advisory fees paid by the Funds, the portfolio management of the Funds or the nature or quality of the services provided by the Adviser to the Funds.

It is important that your shares be represented at
the Annual Meeting in person or by proxy. Regardless of whether you plan to attend the Annual Meeting, please sign, date and return the
enclosed proxy card in the accompanying postage-paid envelope or vote by telephone or through the internet pursuant to the instructions
on the enclosed proxy card.

Your vote is extremely important. No matter how many
or how few shares you own, please send in your proxy card(s), or vote by telephone or the internet today.

The Board of Trustees of your Fund, including the Independent Trustees, unanimously recommends that you vote “FOR” the election of the nominee(s) of the Board listed in the enclosed Proxy Statement for your Fund and “FOR” the approval of the new investment advisory agreement for your Fund.

If you have any questions about the proposals to be
voted on, please call Georgeson LLC, the firm assisting us in the solicitation of proxies, toll free at [ ].

Sincerely,

John Musgrave

Trustee, CEO and President of each Fund

<div align='center'>NXG CUSHING® MIDSTREAM ENERGY FUND (NYSE: SRV)

NXG NEXT