Company: SRV
Filing Date: 2025-11-17
Form Type: 424B2
Source: 0001398344-25-021029
Chunk: 5

Company: NXG Cushing Midstream Energy Fund
Filing Date: 2025-11-17
Form: 424B2
Chunk 5
---
”)
up to the maximum extent permitted of a RIC under the Code. Accordingly, the Fund will, as of the end of each fiscal quarter, invest no
more than 25% of Managed Assets in securities of MLPs and other entities that are “qualified publicly traded partnerships”
under the Code.

Listing and Symbol. The Fund’s currently
outstanding Common Shares are, and the Common Shares offered by this Prospectus Supplement and the accompanying Prospectus, will be, subject
to notice of issuance, listed on the NYSE under the symbol “SRV.” As of November 12, 2025, the NAV of the Fund’s Common
Shares was $43.05 per Common Share and the last reported sale price for the Fund’s Common Shares on the NYSE was $42.92 per Common
Share, representing a discount to NAV of 0.30%. The Rights will be, subject to notice of issuance, admitted for trading on the NYSE under
the symbol “SRV RT” during the course of the Offer. Trading in the Rights on the NYSE may be conducted until the close of
trading on the NYSE on the last business day prior to the Expiration Date.

The Fund’s securities do not represent a deposit
or obligation of, and are not guaranteed or endorsed by, any bank or other insured depository institution and are not federally insured
by the Federal Deposit Insurance Corporation, the Federal Reserve Board or any other government agency.

Capitalized terms used herein that are not otherwise
defined shall have the meanings assigned to them in the accompanying Prospectus.

| iv |

<div align='center'>TABLE OF CONTENTS</div>

|                                                                         |   Page |
| Prospectus Supplement                                                   |        |
| About this Prospectus Supplement                                        |   S-vi |
| Where You Can Find More Information                                     |  S-vii |
| Incorporation By Reference                                              | S-viii |
| Prospectus Supplement Summary                                           |    S-1 |
| Summary of Fund Expenses                                                |    S-8 |
| Capitalization                                                          |   S-10 |
| Use of Proceeds                                                         |   S-11 |
| Terms of the Offer                                                      |   S-11 |
| Risks Relating to the Offer                                             |   S-24 |
| Plan of Distribution                                                    |   S-26 |
| Recent Developments                                                     |   S-29 |
| Legal Matters                                                           |   S-29 |
| Independent Registered Public Accounting Firm                           |   S-29 |
| Prospectus