Company: SRV
Filing Date: 2025-10-22
Form Type: N-2/A
Source: 0001398344-25-019582
Chunk: 79

Company: NXG Cushing Midstream Energy Fund
Filing Date: 2025-10-22
Form: N-2/A
Chunk 79
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’s Managed Assets, the Management Fee will be higher if the Fund employs leverage. Therefore,
the Investment Adviser will have a financial incentive to use leverage, which may create a conflict of interest between the Investment
Adviser and the Fund’s Common Shareholders.

The Investment Adviser also
provides such additional administrative services as the Fund may require beyond those furnished by the Administrator and furnishes, at
its own expense, such office space, facilities, equipment, clerical help, and other personnel and services as may reasonably be necessary
in connection with the operations of the Fund.

In addition, the Investment
Adviser pays the salaries of officers of the Fund who are employees of the Investment Adviser and any fees and expenses of Trustees of
the Fund who are also officers, directors, or employees of the Investment Adviser or who are officers or employees of any company affiliated
with the Investment Adviser and bears the cost of telephone service, heat, light, power, and other utilities associated with the services
it provides.

Advisory Fees Paid

The following summarizes the
investment advisory fees, less any fees waived by the Investment Adviser, paid pursuant to the investment advisory fee agreement in effect
during the last three fiscal years ended November 30:

|                          |     |   |      2024 |   |     |   |      2023 |   |     |   |      2022 |   |
|:-------------------------|:----|:--|----------:|:--|:----|:--|----------:|:--|:----|:--|----------:|:--|
| Contractual Advisory Fee |     | $ | 2,105,693 |   |     | $ | 1,286,476 |   |     | $ | 1,441,315 |   |
| Fees Waived              |     | $ |  (421,139 | ) |     | $ |  (257,295 | ) |     | $ |  (288,263 | ) |
| Net Fee Paid             |     | $ | 1,684,554 |   |     | $ | 1,029,181 |   |     | $ | 1,153,052 |   |

<div align='center'>PORTFOLIO
TRANSACTIONS AND BROKERAGE</div>

Subject to the oversight of
the Board of Trustees, the Investment Adviser is responsible for decisions to buy and sell securities for the Fund