Company: SRV
Filing Date: 2025-01-14
Form Type: 424B2
Source: 0001398344-25-000635
Chunk: 18

Company: NXG Cushing Midstream Energy Fund
Filing Date: 2025-01-14
Form: 424B2
Chunk 18
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point in time or a fixed monthly amount, any of which may be adjusted from time to time. It is anticipated that under such a distribution
policy, the minimum annual distribution rate with respect to the Common Shares would be independent of the Fund’s performance during
any particular period but would be expected to correlate with the Fund’s performance over time.

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The Fund reserves the right to change its distribution
policy and the basis for establishing the rate of distributions at any time and may do so without prior notice to Common Shareholders.

Transferrable Rights Offering

On October 23, 2024, the Fund issued transferrable
rights (“Rights”) to Common Shareholders of record as of 5:00 p.m., Eastern time, on October 23, 2024, entitling the holders
of Rights to subscribe for up to an aggregate of 1,004,176 Common Shares (the “Rights Offering”) at the subscription price
of $41.80 per Common Share. The subscription price was determined based on a formula equal to 89% of the Fund’s NAV per Common Share
at the close of trading on the NYSE on the expiration date of the Rights Offering, November 14, 2024. The Fund received net proceeds of
the Rights Offering of approximately $42 million, which were invested in accordance with the Fund’s investment objective and policies.

Outstanding Securities

The following information regarding the Fund’s
authorized shares is as of January 9, 2025:

| Title of Class                       | Amount Authorized | Amount Held by Fund 
 for its own Account |   Amount Outstanding 
 Exclusive of Amounts 
         held by Fund |
| Common Shares of Beneficial Interest | Unlimited         | None                |            4,085,262 |

<div align='center'>RISKS</div>

An investment in the Fund is subject to investment
risk, including the possible loss of your entire investment. Investors should consider the specific risk factors and special considerations
associated with investing in the Fund. See “Risks” beginning on page 39 of the accompanying Prospectus, and “Risks”
in the Fund’s most recent Annual Report on Form N-CSR and in any of the Fund’s other filings with the SEC incorporated herein
by reference for a discussion of factors you should consider carefully before deciding to invest in the Fund’s Common Shares. See “Where You Can Find More Information.”

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<div align='center'>PLAN OF DISTRIBUTION</