Company: SRV
Filing Date: 2025-04-10
Form Type: N-2
Source: 0001398344-25-006954
Chunk: 49

Company: NXG Cushing Midstream Energy Fund
Filing Date: 2025-04-10
Form: N-2
Chunk 49
---
 including, but not limited                                
 to, your account number and balance, payment history, parties to transactions, cost basis information and other financial information. |

The Fund does not disclose
any nonpublic personal information about you, the Fund’s other shareholders or the Fund’s former shareholders to third parties
unless necessary to process a transaction, service an account, or as otherwise permitted by law. To protect your personal information
internally, the Fund restricts access to nonpublic personal information about the Fund’s shareholders to those employees who need
to know that information to provide services to the Fund’s shareholders. The Fund also maintains certain other safeguards to protect
your nonpublic personal information.

<div align='center'>27</div>

In the event that you hold
shares of the Fund through a financial intermediary, including, but not limited to, a broker-dealer, bank or trust company, the privacy
policy of your financial intermediary would govern how your nonpublic personal information would be shared with nonaffiliated third parties.

<div align='center'>28

The information in this Statement of Additional Information is not complete and may be changed. The Fund may not sell these securities until the registration statement filed with the Securities and Exchange Commission is effective. This Statement of Additional Information is not an offer to sell these securities and is not soliciting an offer to buy these securities in any state where the offer or sale is not permitted.

Subject to Completion, dated April 10, 2025

$500,000,000

NXG Cushing Midstream Energy Fund

Common Shares
Subscription Rights for Common Shares

Statement of Additional Information</div>

NXG Cushing Midstream
Energy Fund (the “Fund”) was formed as a Delaware statutory trust on May 23, 2007 and is a non-diversified, closed-end
management investment company. The Fund’s investment objective is to obtain a high after-tax total return from a combination of
capital appreciation and current income. No assurance can be given that the Fund’s investment objective will be achieved.

This Statement of Additional
Information (“SAI”) is not a prospectus, but should be read in conjunction with the prospectus for the Fund dated , 2025
(the “Prospectus”). Investors should obtain and read the Prospectus prior to purchasing common shares. A copy of the Prospectus
may be obtained, without charge, by calling the Fund at (214) 692-6334.

The Prospectus and this SAI omit
certain of the information contained in