Company: SRV
Filing Date: 2025-11-17
Form Type: 424B2
Source: 0001398344-25-021029
Chunk: 148

Company: NXG Cushing Midstream Energy Fund
Filing Date: 2025-11-17
Form: 424B2
Chunk 148
---
 and any reports and other documents subsequently filed by the Fund with
the SEC pursuant to Rule 30(b)(2) under the 1940 Act and Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act after the date of the
initial registration statement and prior to the effectiveness of the registration statement, are incorporated by reference into this
Statement of Additional Information and deemed to be part of this Statement of Additional Information from the date of the filing of
such reports and documents:

| ● | the Fund’s description of Common Shares contained in its                                
 Registration Statement on Form 8-A (File No. 001-33641) filed with the SEC on August 2, 
 2007.                                                                                   |

To obtain copies of these filings, see “Where You Can Find More Information.”

<div align='center'>S-26

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 to shareholders for the period ended November 30, 2024, as contained in the
Fund’s Form N-CSR
filed with the Securities and Exchange Commission (the “Commission”) on February 10, 2025, are incorporated by
reference in this Statement of Additional Information. The Fund’s unaudited financial statements, including accompanying notes
thereto, appearing in the Fund’s semi-annual report to shareholders for the period ended May 31, 2025, as contained in the Fund’s
Form N-CSRS filed with the Commission on August 8, 2025, are incorporated by reference in this Statement of Additional Information.
Shareholder reports are available upon request and without charge by calling toll-free (888) 777-2346, 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-27</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