Company: SRV
Filing Date: 2025-10-22
Form Type: N-2/A
Source: 0001398344-25-019582
Chunk: 23

Company: NXG Cushing Midstream Energy Fund
Filing Date: 2025-10-22
Form: N-2/A
Chunk 23
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istributed net investment income is included in the Common Shares’ net asset value,
and, correspondingly, distributions from net investment income will reduce the Common Shares’ net asset value.

With each distribution that
does not consist solely of net investment income, the Fund will issue a notice to shareholders that will provide estimated information
regarding the amount and composition of the distribution. The amounts and sources of distributions reported in each notice will be estimated,
are likely to change over time and are not provided for tax reporting purposes. The final determination of such amounts will be made and
reported to shareholders after the end of the calendar year when the Fund determines its earnings and profits for the year. The actual
amounts and sources of the amounts for accounting and tax reporting purposes will depend upon the Fund’s investment experience during
its full fiscal year and may be subject to changes based on tax regulations. The Fund will send each shareholder a Form 1099-DIV
for the calendar year that will tell shareholders how to report distributions for federal income tax purposes.

<div align='center'>15</div>

The Fund reserves the right
to change its distribution policy and the basis for establishing the rate of distributions at any time and may do so without prior notice
to Common Shareholders.

Payment of future distributions
is subject to approval by the Fund’s Board of Trustees, as well as meeting the covenants of any outstanding Indebtedness or preferred
shares and the asset coverage requirements of the 1940 Act.

<div align='center'>DIVIDEND
REINVESTMENT PLAN</div>

The information contained under
the heading “Additional Information (Unaudited)—Management of the Fund—Distribution and Dividend Reinvestment Plan”
in the Fund’s Annual Report is incorporated herein by reference.

DESCRIPTION
OF SHARES

The following is a brief description
of the terms of the securities which may be issued by the Fund. This description does not purport to be complete and is qualified by reference
to the Fund’s governing documents. The Fund is a statutory trust organized under the laws of Delaware pursuant to a Certificate
of Trust dated May 23, 2007, as filed with the State of Delaware on May 23, 2007 and as amended through the date hereof.

Common Shares

The Fund is authorized to
issue an unlimited number of Common Shares of beneficial interest, par value $0.001 per share. Each Common Share has one vote. Pursuant
to the Declaration of Trust, when issued and paid for in accordance with the