Company: SRV
Filing Date: 2025-10-22
Form Type: N-2/A
Source: 0001398344-25-019582
Chunk: 16

Company: NXG Cushing Midstream Energy Fund
Filing Date: 2025-10-22
Form: N-2/A
Chunk 16
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, 2007 and is a non-diversified,
closed-end management investment company registered under the Investment Company Act of 1940 Act (the “1940 Act”). The Fund
commenced investment operations on August 27, 2007. The Fund’s principal office is located at One Energy Square, 4925 Greenville
Avenue, Suite 1310, Dallas, Texas 75206.

<div align='center'>USE
OF PROCEEDS</div>

Unless otherwise specified in
a Prospectus Supplement, the Fund intends to invest the net proceeds of an offering of Securities in accordance with its investment objective
and policies as stated in this Prospectus. It is currently anticipated that the Fund will be able to invest substantially all of the net
proceeds of an offering of Securities in accordance with its investment objective and policies within three months after the completion
of such offering. Prior to the time the proceeds of each offering are fully invested, such proceeds may temporarily be invested in cash,
cash equivalents, or in debt securities that are rated AA or higher. Income received by the Fund from such temporary investments would
likely be less than returns sought pursuant to the Fund’s investment objective and policies. A delay in the anticipated use of proceeds
could lower returns and reduce the Fund’s distribution to Common Shareholders.

<div align='center'>MARKET
AND NET ASSET VALUE INFORMATION</div>

The information contained under the heading
“Additional Information (Unaudited)—Market and Net Asset Value Information” in the Fund’s Annual Report is incorporated
herein by reference, as supplemented by the following information:

| Fiscal Quarter Ended 
 February 28, 2025    |     | Market Price 
 High         | 49.61 |     | Low | 41.20 |     | Corresponding Net 
 Asset Value       
 Per               
 Common Share      
 High              | 48.52 |     | Low | 41.89 |     | Corresponding      
 Premium/(Discount) 
 as a Percentage of 
 Net Asset Value    
 High               | 2.25 | % |     | Low | -1.65 | %  |
|:---------------------|:----|:-------------|------:|:----|:----|------:|:----|:------------------|------:|:----|:----|------:|:----|:-------------------|-----:|:--|:----|:----|------:|:---|
| May 31, 2025         |