Company: SRV
Filing Date: 2025-04-10
Form Type: N-2
Source: 0001398344-25-006954
Chunk: 23

Company: NXG Cushing Midstream Energy Fund
Filing Date: 2025-04-10
Form: N-2
Chunk 23
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 the calendar year that will tell shareholders how to report distributions for federal income tax purposes.

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.

Payment of future distributions
is subject to approval by the Fund’s Board of Trustees, as well as meeting the covenants of any outstanding Indebtedness or preferred
shares and the asset coverage requirements of the 1940 Act.

<div align='center'>DIVIDEND
REINVESTMENT PLAN</div>

The information contained
under the heading “Additional Information (Unaudited)—Management of the Fund—Distribution and Dividend Reinvestment
Plan” in the Fund’s Annual Report is incorporated herein by reference.

<div align='center'>13</div>

DESCRIPTION
OF SHARES

The following is a brief
description of the terms of the securities which may be issued by the Fund. This description does not purport to be complete and is qualified
by reference to the Fund’s governing documents. The Fund is a statutory trust organized under the laws of Delaware pursuant to a
Certificate of Trust dated May 23, 2007, as filed with the State of Delaware on May 23, 2007 and as amended through the date
hereof.

Common Shares

The Fund is authorized to
issue an unlimited number of Common Shares of beneficial interest, par value $0.001 per share. Each Common Share has one vote. Pursuant
to the Declaration of Trust, when issued and paid for in accordance with the terms of this offering, will be fully paid and non-assessable.
The Declaration of Trust provides that the Board of Trustees will have the power to cause shareholders to pay expenses of the Fund by
setting off charges due from shareholders from declared but unpaid distributions owed the shareholders and/or by reducing the number of
Common Shares owned by each respective shareholder. No expenses have been paid or are being paid pursuant to such provision, and the Board
of Trustees has no intention to cause expenses to be paid pursuant to such provision, which in any event may only be utilized to the extent
permitted by the 1940 Act.

The Fund intends to hold
annual meetings of shareholders so long as the Common Shares are listed on a national securities exchange and such meetings are required
as a condition to such listing. All Common Shares are equal as to distributions, assets and voting privileges and have no conversion, preemptive or other subscription rights. The Fund will