Company: SRV
Filing Date: 2025-10-22
Form Type: N-2/A
Source: 0001398344-25-019582
Chunk: 26

Company: NXG Cushing Midstream Energy Fund
Filing Date: 2025-10-22
Form: N-2/A
Chunk 26
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.

The applicable Prospectus Supplement
would describe the following terms of subscription rights in respect of which this Prospectus is being delivered:

| ● | the period of time the offering would                                                       
 remain open (which will be open a minimum number of days such that all record holders would 
 be eligible to participate in the offering and will not be open longer than 120 days);      |

| ● | the exercise price for such subscription   
 rights (or method of calculation thereof); |

| ● | the number of such subscription rights  
 issued in respect of each Common Share; |

| ● | the extent to which such subscription                                                        
 rights are transferable and the market on which they may be traded if they are transferable; |

| ● | if applicable, a discussion of the                                                        
 material U.S. federal income tax considerations applicable to the issuance or exercise of 
 such subscription rights;                                                                 |

| ● | the date on which the right to exercise                                                       
 such subscription rights will commence, and the date on which such right will expire (subject 
 to any extension);                                                                            |

| ● | the extent to which such subscription                                                     
 rights include an over-subscription privilege with respect to unsubscribed securities and 
 the terms of such over-subscription privilege;                                            |

| ● | any termination right the Fund may                         
 have in connection with such subscription rights offering; |

| ● | the expected trading market, if any, 
 for rights; and                      |

| ● | any other terms of such subscription                                                        
 rights, including exercise, settlement and other procedures and limitations relating to the 
 transfer and exercise of such subscription rights.                                          |

17

Exercise of Subscription Rights

Each subscription right would
entitle the holder of the subscription right to purchase for cash such number of shares at such exercise price as in each case is set
forth in, or be determinable as set forth in the Prospectus Supplement relating to the subscription rights offered thereby. Subscription
rights would be exercisable at any time up to the close of business on the expiration date for such subscription rights set forth in
the Prospectus Supplement. After the close of business on the expiration date, all unexercised subscription rights would become void.

Upon expiration of the rights
offering and the receipt of payment and the subscription rights certificate properly completed and duly executed at the corporate trust
office of the subscription rights agent or any other office indicated in the Prospectus Supplement, the Fund would issue, as soon as practicable,
the Common Shares purchased as a result of such exercise. To