Company: SRV
Filing Date: 2025-11-17
Form Type: 424B2
Source: 0001398344-25-021029
Chunk: 110

Company: NXG Cushing Midstream Energy Fund
Filing Date: 2025-11-17
Form: 424B2
Chunk 110
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 the
option. Thus, the use of options may require the Fund to buy or sell portfolio securities at inopportune times or for prices other than
the current market values of such securities, may limit the amount of appreciation the Fund can realize on an investment, or may cause
the Fund to hold a security that it might otherwise sell.

Purchasing Options. The Fund may purchase
call and put options. As the buyer of a call option, the Fund pays the premium to the option writer and has the right to purchase the
underlying security from the option writer at the exercise price. If the market price of the underlying security rises above the exercise
price, the Fund could exercise the option and acquire the underlying security at a below market price, which could result in a gain to
the Fund, minus the premium paid. As the buyer of a put option, the Fund pays the premium to the option writer and has the right to sell
the underlying security to the option writer at the exercise price. If the market price of the underlying security declines below the
exercise price, the Fund could exercise the option and sell the underlying security at an above market price, which could result in a
gain to the Fund, minus the premium paid. The Fund may buy call and put options whether or not it holds the underlying securities.

<div align='center'>S-6</div>

As a buyer of a call or put option, the Fund
may sell put or call options that it has purchased at any time prior to such option’s expiration date through a closing sale transaction.
The principal factors affecting the market value of a put or a call option include supply and demand, interest rates, the current market
price of the underlying security in relation to the exercise price of the option, the volatility of the underlying security, the underlying
security’s dividend policy, and the time remaining until the expiration date. A closing sale transaction may or may not result
in a profit to the Fund. The Fund’s ability to initiate a closing sale transaction is dependent upon the liquidity of the options
market and there is no assurance that such a market will exist with respect to any particular option. If the Fund does not exercise or
sell an option prior to its expiration date, the option expires and becomes worthless.

OTC Options. Unlike exchange-traded
options, which are standardized with respect to the underlying instrument, expiration date, contract size and strike price, the terms
of OTC options generally are established through negotiation between the parties to the