Company: SRV
Filing Date: 2025-04-10
Form Type: N-2
Source: 0001398344-25-006954
Chunk: 73

Company: NXG Cushing Midstream Energy Fund
Filing Date: 2025-04-10
Form: N-2
Chunk 73
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. shareholder” is a beneficial owner of Common Shares, other than a partnership (or other entity or arrangement
treated as a partnership for U.S. federal income tax purposes), that is not a U.S. shareholder for U.S. federal income tax purposes. Whether
an investment in Common Shares is appropriate for a non-U.S. shareholder will depend on that non-U.S. shareholder’s particular circumstances.
An investment in Common Shares by a non-U.S. shareholder may have adverse tax consequences. Non-U.S. shareholders should consult their
tax advisors before investing in the Common Shares.

<div align='center'>S-12</div>

A non-U.S. shareholder generally
will be subject to U.S. federal withholding tax at a rate of 30% (or possibly a lower rate provided by an applicable tax treaty) on ordinary
income dividends to the extent of the Fund’s current or accumulated earnings and profits (except as discussed below). Actual or
deemed distributions of the Fund’s net capital gain to a non-U.S. shareholder, and gains recognized by a non-U.S. shareholder upon
the sale of Common Shares, will generally not be subject to U.S. federal withholding tax and will not be subject to U.S. federal income
tax. Different tax consequences may result if (i) the non-U.S. shareholder is engaged in a trade or business in the United States (and,
if an income tax treaty applies, the non-U.S. shareholder’s income or gains are attributable to a permanent establishment maintained
by the shareholder in the United States), (ii) the non-U.S. shareholder is an individual that is present in the United States for 183
days or more during a taxable year and certain other conditions are met, or (iii) in the case of gain on the disposition of Common Shares,
the Fund is or has been a “United States real property holding corporation” (“USRPHC”) at any time within the
shorter of the five-year period ending on the date the Common Shares are sold or the period that such non-U.S. shareholder held the shares
(and as long as the Common Shares are treated as regularly traded on an established securities market, such non-U.S. shareholder owns
or owned (actually or constructively) more than five percent of the Common Shares at any time during the shorter of the two periods mentioned
above), or (iv) in the case of distributions that are attributable to the Fund’s gain on the disposition of a “U.S. real property