Company: SRV
Filing Date: 2025-08-08
Form Type: N-CSRS
Source: 0001398344-25-014835
Chunk: 25

Company: NXG Cushing Midstream Energy Fund
Filing Date: 2025-08-08
Form: N-CSRS
Chunk 25
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 were as follows:

| Shares at November 30, 2023                                   |     | 2,184,950 |
| Shares issued through reinvestment of distributions           |     |     5,419 |
| Shares issued in connection with conducting a rights offering |     | 1,732,493 |
| Shares issued in connection with at-the-market offering       |     |    93,843 |
| Shares at November 30, 2024                                   |     | 4,016,705 |
| Shares issued through reinvestment of distributions           |     |     4,632 |
| Shares issued in connection with at-the-market offering       |     |   455,469 |
| Shares at May 31, 2025                                        |     | 4,476,806 |

On May 17, 2024, the Fund entered into a Distribution Agreement (the “Distribution Agreement”) with Foreside Fund Services, LLC (the “Distributor”), pursuant to which the Fund may offer and sell up to 175,000 common shares, from time to time, through the Distributor, in transactions that are deemed to be “at-the-market” as defined in Rule 415 under the Securities Act of 1933. The minimum price on any day at which common shares may be sold will not be less than the then current net asset value per common share plus any commissions to be paid to the Distributor. For the fiscal year 2024, the Fund issued 93,843 shares, generating gross proceeds of $4 million under the Distribution Agreement.

On January 13, 2025, the Fund entered into an Amended and Restated Distribution Agreement (the “Distribution Agreement”) with the Foreside Fund Services, LLC (the “Distributor”), pursuant to which the Fund may offer and sell up to 745,000 Common Shares, from time to time, through the Distributor, in transactions that are deemed to be “at-the-market” as defined in Rule 415 under the Securities Act of 1933. The minimum price on any day at which Common Shares may be sold will not be less than the then current net asset value per Common Share plus any commissions to be paid to the Distributor. For the period ended May 31, 2025, the Fund issued 455,469 shares under the Distribution Agreement, generating gross proceeds of $20 million.

9. Borrowing Facilities

The Fund maintains a margin account arrangement with Scotiabank™. The interest rate