Company: SRV
Filing Date: 2025-11-17
Form Type: 424B2
Source: 0001398344-25-021029
Chunk: 44

Company: NXG Cushing Midstream Energy Fund
Filing Date: 2025-11-17
Form: 424B2
Chunk 44
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these arrangements, the Dealer Manager is expected to purchase Rights on the NYSE. The number of Rights, if any, purchased by the Dealer
Manager will be determined by the Dealer Manager in its sole discretion. The Dealer Manager is not obligated to purchase Rights or Common
Shares as principal for its own account to facilitate the trading market for Rights or for investment purposes. Rather, its purchases
are expected to be closely related to interest in acquiring Common Shares generated by the Dealer Manager through its marketing and soliciting
activities. The Dealer Manager intends to exercise Rights purchased by it during the Subscription Period but prior to the Expiration Date.
The Dealer Manager may exercise those Rights at its option on one or more dates, which are expected to be prior to the Expiration Date.
The subscription price for the Common Shares issued through the exercise of Rights by the Dealer Manager prior to the Expiration Date
will be the greater of 95% of the last reported sale price of a Common Share on the NYSE on the date of exercise or 92.5% of the Fund’s
NAV per Common Share at the close of trading on the NYSE prior to the date of exercise. The price and timing of these exercises are expected
to differ from those described herein for the Rights offering. The Subscription Price will be paid to the Fund and the dealer manager
fee with respect to such proceeds will be paid by the Fund on the applicable settlement date(s) of such exercise(s).

| S-26 |

In connection with the exercise of Rights and receipt
of Common Shares, the Dealer Manager intends to offer those Common Shares for sale to the public and/or through Selling Group Members
it has established. The Dealer Manager may set the price for those Common Shares at any price that it determines, in its sole discretion.
The Dealer Manager has advised that the price at which such Common Shares are offered is expected to be at or slightly below the closing
price of the Common Shares on the NYSE on the date the Dealer Manager exercises Rights. No portion of the amount paid to the Dealer Manager
or to a Selling Group Member from the sale of Common Shares in this manner will be paid to the Fund. If the sales price of the Common
Shares is greater than the subscription price paid by the Dealer Manager for such Common Shares plus the costs to purchase Rights for
the purpose of acquiring those Common Shares, the Dealer Manager will receive a gain. Alternatively, if the sales price of the Common
Shares is less than the Subscription Price for such Common Shares plus the costs to