Company: SRV
Filing Date: 2025-04-10
Form Type: N-2
Source: 0001398344-25-006954
Chunk: 62

Company: NXG Cushing Midstream Energy Fund
Filing Date: 2025-04-10
Form: N-2
Chunk 62
---
 CONSIDERATIONS1</div>

The following discussion is a
summary of the U.S. federal income tax considerations generally applicable to the ownership and disposition of Common Shares. This discussion
is based upon current provisions of the Code, the Treasury regulations promulgated thereunder and judicial and administrative authorities,
all of which are subject to change or differing interpretations by the courts or the Internal Revenue Service (the “IRS”),
possibly with retroactive effect. This discussion does not address any other U.S. federal tax considerations (such as estate, gift, or
net investment taxes) or any state, local or non-U.S. tax considerations. No ruling has been or will be sought from the IRS regarding
any matter discussed herein. No assurance can be given that the IRS would not assert, or that a court would not sustain, a position different
from any of the tax aspects set forth below. Unless otherwise noted, this discussion assumes that the Common Shares are held by U.S. persons
and that Common Shareholders hold their Common Shares as capital assets for U.S. federal income tax purposes (generally, assets held for
investment). No attempt is made to present a detailed explanation of all U.S. federal income tax concerns affecting the Fund and its Common
Shareholders (including Common Shareholders that are subject to special provisions of the Code, such as financial institutions, insurance
companies, a partnership or other pass-through entity for U.S. federal income tax purposes, Common Shareholders whose “functional
currency” is not the U.S. dollar, tax-exempt organizations, a controlled foreign corporation or a passive foreign investment company,
dealers in securities or currencies, traders in securities or commodities that elect mark-to-market treatment, persons that will hold
Common Shares as a position in a “straddle,” “hedge” or as part of a “constructive sale” for federal
income tax purposes, persons subject to special rules or exemptions under the Foreign Investment in Real Property Tax Act of 1980, persons
that actually or constructively own or have owned a large position in the Fund, and, except as otherwise expressly indicated, non-U.S.
persons), and the discussions set forth here and in the Prospectus do not constitute tax advice. Investors are urged to consult their
tax advisors regarding the U.S. federal, state, local and foreign tax consequences of investing in the Fund.

| 1 | NTD: Subject to Skadden tax review. |

<div align='center'>S-7</div>