Company: SRV
Filing Date: 2025-03-10
Form Type: PRE 14A
Source: 0001398344-25-005333
Chunk: 43

Company: NXG Cushing Midstream Energy Fund
Filing Date: 2025-03-10
Form: PRE 14A
Chunk 43
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 the accountant’s independence.

|                                     |     | SRV |        |     | NXG |        |
|:------------------------------------|:----|:----|-------:|:----|:----|-------:|
| Fiscal Year ended November 30, 2024 |     | $   | 21,000 |     | $   | 21,000 |
| Fiscal Year ended November 30, 2023 |     | $   | 20,000 |     | $   | 20,000 |

| 24 |

ANNEX B

<div align='center'>Form of New Advisory Agreement

SRV

INVESTMENT MANAGEMENT AGREEMENT

ENTERED INTO BETWEEN

NXG CUSHING MIDSTREAM ENERGY FUND

AND

CUSHING INVESTMENT MANAGEMENT, LP</div>

This Investment Management Agreement (the “Agreement”)
is entered into as of ________, 2025 by and between NXG Cushing Midstream Energy Fund (the “Fund”), a statutory trust duly
organized and existing under the laws of the State of Delaware, and Cushing Investment Management, LP, a limited partnership duly organized
and existing under the laws of the State of Texas (the “Investment Adviser”).

<div align='center'>RECITALS:</div>

The Fund is a closed-end management investment company
registered under the Investment Company Act of 1940 (the “1940 Act”); and

The Investment Adviser is engaged principally in providing
management and investment advisory services and is registered as an investment adviser under the Investment Advisers Act of 1940 (the
“Advisers Act”); and

The Investment Adviser is willing to provide management
and investment advisory services to the Fund on the terms and conditions set out below;

NOW, THEREFORE, in consideration of the mutual covenants
and agreements set out in this Agreement, the Fund and the Investment Adviser agree as follows:

1. Investment Description; Appointment

(a) . The Fund will invest
and reinvest its assets in accordance with the investment objective, policies and limitations specified in the prospectus (the “Prospectus”)
filed with the Securities and Exchange Commission (the “SEC”) as part of the Fund’s registration statement on Form N-2
(the “Registration Statement”), as the Fund may periodically amend such investment objective, policies and limitations.

(b) . The
Fund will employ the Investment Adviser to act as the investment adviser of the Fund and to furnish