Company: SRV
Filing Date: 2025-11-17
Form Type: 424B2
Source: 0001398344-25-021029
Chunk: 46

Company: NXG Cushing Midstream Energy Fund
Filing Date: 2025-11-17
Form: 424B2
Chunk 46
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 the Subscription Price by acquiring Rights on
the NYSE and exercising them in the method described above under “Terms of the Offer—Method for Exercise of Rights”
and “Terms of the Offer—Payment for Common Shares.”

In the ordinary course of their businesses, the Dealer
Manager and/or its affiliates may engage in investment banking or financial transactions with the Fund, the Investment Adviser and their
affiliates. In addition, in the ordinary course of their businesses, the Dealer Manager and/or its affiliates may, from time to time,
own securities of the Fund or its affiliates.

The principal business address of the Dealer Manager
is 11 Madison Avenue, New York, New York 10010.

Compensation to Dealer Manager

Pursuant to the Dealer Manager Agreement, the Fund
has agreed to pay the Dealer Manager a fee for its financial structuring and solicitation services equal to 3.50% of the Subscription
Price per Common Share for each Common Share issued pursuant to the exercise of Rights, including the over-subscription privilege.

| S-27 |

The Dealer Manager will reallow to Selling Group Members
in the Selling Group to be formed and managed by the Dealer Manager selling fees equal to 2.00% of the Subscription Price for each
Common Share issued pursuant to the Offer or the over-subscription privilege as a result of their selling efforts. In addition, the Dealer
Manager will reallow to Soliciting Dealers that have executed and delivered a Soliciting Dealer Agreement and have solicited the exercise
of Rights, solicitation fees equal to 0.50% of the Subscription Price for each Common Share issued pursuant to the exercise of Rights
as a result of their soliciting efforts, subject to a maximum fee based on the number of Common Shares held by such Soliciting Dealer
through DTC on the Record Date. Fees will be paid to the broker-dealer designated on the applicable portion of the subscription certificates
or, in the absence of such designation, to the Dealer Manager.

In addition, the Fund, has agreed to pay the Dealer
Manager an amount up to $150,000 as a partial reimbursement of its expenses incurred in connection with the Offer, including reasonable
out-of-pocket fees and expenses, if any, and not to exceed $10,000, incurred by the Dealer Manager, Selling Group Members, Soliciting
Dealers and other brokers, dealers and financial institutions in connection with their customary mailing and handling of materials related
to the Offer to their customers. The fees described above are one