Company: SRV
Filing Date: 2025-03-10
Form Type: PRE 14A
Source: 0001398344-25-005333
Chunk: 5

Company: NXG Cushing Midstream Energy Fund
Filing Date: 2025-03-10
Form: PRE 14A
Chunk 5
---
 Annual Meeting of Shareholders (“”). Much of the information in this Proxy Statement is required under rules of the Securities and Exchange Commission
(“”). If there is anything you do not understand, please contact us at 214-692-6334. The Notice of Annual Meeting,
the proxy and this Proxy Statement are first being mailed to each Fund’s shareholders on or about [ ], 2025.

| ● | Why is a shareholder meeting being held? |

The common shares of each Fund are listed
on the New York Stock Exchange (“”), and the rules of the NYSE require each Fund to hold an annual meeting of shareholders
to elect Trustees each fiscal year.

| ● | What matters will be voted on? |

Shareholders of the Funds are being asked
to vote on the following proposals:

| 1. | To elect Trustees in the following manner: |

| (a) | With respect to SRV: To elect the Class III Trustee nominee named in this Proxy Statement, Mr. John            
 Musgrave, to hold office until SRV’s 2028 annual meeting or until his successor is elected and duly qualified. |

| (b) | With respect to NXG: To elect the Class I Trustee nominees named in this Proxy Statement, Mr. Brian                             
 R. Bruce and Mr. John Musgrave, to hold office until NXG’s 2027 annual meeting or until their respective successors are elected 
 and duly qualified.                                                                                                             |

| 2. | To approve, upon a Change of Control Event (as defined herein) prompted by the Adviser Ownership Plan                   
 (as defined herein), a new investment advisory agreement (each a “New Investment Advisory Agreement”) between each      
 Fund and Cushing Asset Management, LP. (the “Adviser”), and under certain circumstances, any future investment advisory 
 agreements prompted by Change of Control Events that may occur as parts of the Adviser Ownership Plan.                  |

| ● | Why am I being asked to vote on a new investment advisory agreement? |

Cushing Asset Management, LP, d/b/a NXG
Investment Management, currently serves as each Fund’s investment adviser. The Adviser operates pursuant to an Eighth Amended and
Restated Limited Partnership Agreement (the “”) among Jerry V. Swank, Swank Capital, LLC
(“”), a Texas limited liability company wholly owned by Jerry V. Swank, and NXG Cushing, LLC (“, a Texas limited liability company owned by certain senior employees of the Adviser (the