Company: SRV
Filing Date: 2025-04-10
Form Type: N-2
Source: 0001398344-25-006954
Chunk: 6

Company: NXG Cushing Midstream Energy Fund
Filing Date: 2025-04-10
Form: N-2
Chunk 6
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 or less than the amount of net investment income from that monthly period. As a result, all or a portion of a
distribution may be deemed a return of capital (which is in effect a partial return of the amount a Common Shareholder invested in the
Fund) up to the amount of the Common Shareholder’s tax basis in their Common Shares, which would reduce such tax basis. The Fund’s distributions have historically included, and may in the future include, a significant portion of return of capital. For the fiscal year ended November 30, 2024, the Fund’s distributions were comprised of approximately 69% ordinary income, 31% long-term capital gains, and 0% return of capital. Accordingly, shareholders should not assume that the source of a distribution from the Fund is net income or profit, and the Fund’s distributions should not be used as a measure of performance or confused with yield or income.Although
a return of capital may not be taxable, it will generally increase the Common Shareholder’s potential gain, or reduce the Common
Shareholder’s potential loss, on any subsequent sale or other disposition of Common Shares. Common Shareholders should not assume
that the source of a distribution from the Fund is net income or profit, and Common Shareholders who receive distributions that include
return of capital should not assume that such return of capital is derived from the Fund’s investments.

Concentration. The Fund’s investments
will be concentrated in issuers in the industry or group of industries that make up the natural resources sector, and specifically in
midstream energy companies within the natural resources sector.

You should read this Prospectus and the documents
incorporated herein by reference, which contain important information about the Fund that you should know before deciding whether to invest,
and retain it for future reference. A Statement of Additional Information, dated ,
2025 (“SAI”), containing additional information about the Fund, has been filed with the Securities and Exchange Commission
(the “SEC”) and is incorporated by reference in its entirety into this Prospectus. You may request a free copy of the Statement
of Additional Information, the table of contents of which is on page [29] of this Prospectus, and the Fund’s annual and semi-annual
reports by calling toll-free (214) 692-6334, or you may obtain a copy of such reports, the SAI and other information regarding the Fund
from the SEC’s website (http://www.sec.gov). Free copies of the Fund’s annual and semi-annual