Company: SRV
Filing Date: 2025-04-10
Form Type: N-2
Source: 0001398344-25-006954
Chunk: 79

Company: NXG Cushing Midstream Energy Fund
Filing Date: 2025-04-10
Form: N-2
Chunk 79
---
 June 30 which has been filed with the SEC is available without
charge by calling the Fund toll free at (877) 965-7386.

Code of Ethics

The Fund and the Investment Adviser
have adopted a code of ethics under Rule 17j -1 of the 1940 Act. This code permits personnel subject to the code to invest in securities,
including securities that may be purchased or held by the Fund. The code of ethics is available on the EDGAR Database on the SEC’s
website (http://www.sec.gov), and copies of this code may be obtained, after paying a duplicating fee, by electronic request
at the following e-mail address: publicinfo@sec.gov.

<div align='center'>S-16

FINANCIAL
STATEMENTS</div>

The Fund’s audited financial
statements, including accompanying notes thereto and the report of Ernst & Young LLP thereon, appearing in the Fund’s Annual
Report are incorporated by reference in this Statement of Additional Information. Shareholder reports are available upon request and without
charge by calling toll-free (877) 965-7386, or you may obtain a copy of such reports from the SEC’s website (http://www.sec.gov)
or from the Fund’s website at www.nxgim.com. Information on, or accessible through, the Fund’s website is not
a part of, and is not incorporated into, this Statement of Additional Information, the Prospectus or any Prospectus Supplement.

<div align='center'>S-17</div>

Appendix A

<div align='center'>Description of Securities Ratings</div>

STANDARD & POOR’S CORPORATION

A brief description of the applicable
Standard & Poor’s Corporation (“S&P”) rating symbols and their meanings (as published by S&P) follows.

Issue Credit Ratings Definition

A Standard & Poor’s
issue credit rating is a forward-looking opinion about the creditworthiness of an obligor with respect to a specific financial obligation,
a specific class of financial obligations, or a specific financial program (including ratings on medium-term note programs and commercial
paper programs). It takes into consideration the creditworthiness of guarantors, insurers, or other forms of credit enhancement on the
obligation and takes into account the currency in which the obligation is denominated. The opinion reflects S&P’s view of the
obligor’s capacity and willingness to meet its financial commitments as they come due, and may assess terms, such as collateral
security and