Company: SRV
Filing Date: 2025-11-17
Form Type: 424B2
Source: 0001398344-25-021029
Chunk: 15

Company: NXG Cushing Midstream Energy Fund
Filing Date: 2025-11-17
Form: 424B2
Chunk 15
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 Statement of which this Prospectus Supplement is a part. Prior to the termination 
 date, the waiver agreement may be modified, waived or terminated only with the consent of the Board of Trustees.                      |

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 annual expenses”
of 3.20% of net assets attributable to Common Shares in Year 1 and 3.54% of net assets attributable to Common Sares thereafter, (2) the
sales load of 3.50% and estimated offering expenses of $517,950, and (3) a 5% annual return*:

|                         | 1 Year | 3 Years | 5 Years | 10 Years |
| Total Expenses Incurred |    $70 |    $140 |    $213 |     $404 |

| * | The Example should not be considered a representation of future                                                                       
 expenses or returns. Actual expenses may be higher or lower than those assumed. Moreover, the Fund’s actual rate of return            
 may be higher or lower than the hypothetical 5% return shown in the Example. The Example assumes that all dividends and distributions 
 are reinvested at NAV.                                                                                                                |

| S-9 |

CAPITALIZATION

The following table sets forth the Fund’s capitalization
at May 31, 2025:

| (i) | on a historical basis; |

| (ii) | on an as adjusted basis to reflect (i) the issuance of an aggregate of 4,050 Common Shares after May 31, 2025, but prior to the         
 date of this Prospectus Supplement pursuant to the Fund’s Automatic Dividend Reinvestment Plan, and the application of the net proceeds 
 from such issuances of Common Shares, and (ii) the issuance of 186,753 Common Shares after May 31, 2025, but prior to the date of       
 this Prospectus Supplement, in an “at-the-market” offering pursuant to a distribution agreement between the Fund and Foreside           
 Fund Services, LLC, and the application of the net proceeds from such issuances of Common Shares less the commission paid and offering  
 expenses payable by the Fund in connection with the issuance and sale of Common Shares; and                                             |

| (iii) | on an as further adjusted basis to reflect the assumed sale of 1,555,870 Common Shares pursuant to the exercise of Rights at