Company: SRV
Filing Date: 2025-11-17
Form Type: 424B2
Source: 0001398344-25-021029
Chunk: 70

Company: NXG Cushing Midstream Energy Fund
Filing Date: 2025-11-17
Form: 424B2
Chunk 70
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in US and non-U.S, securities.

<div align='center'>NET
ASSET VALUE</div>

The information contained under
the heading “Additional Information (Unaudited)—Net Asset Value” in the Fund’s Annual Report is incorporated herein
by reference.

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

The Fund intends to pay substantially
all of its net investment income to Common Shareholders through monthly distributions. In addition, the Fund intends to distribute any
net long-term capital gains to Common Shareholders at least annually. The Fund expects that distributions paid on the Common Shares will
consist primarily of (i) investment company taxable income, which includes, among other things, ordinary income, net short-term capital
gain and income from certain hedging and interest rate transactions, (ii) net capital gain (which is the excess of net long-term capital
gain over net short-term capital loss), and/or (iii) return of capital.

The Fund’s net investment
income can vary significantly over time; however, the Fund seeks to maintain a more stable monthly distribution per share. The distributions
paid by the Fund for any particular month may be more or less than the amount of net investment income for that monthly period.

In any given year, there can
be no guarantee the Fund’s investment returns will exceed the amount of distributions. The Fund may distribute more than the entire
amount of the net investment income earned in a particular period, in which case all or a portion of a distribution may be a return of
capital. Return of capital is the return of a portion of the shareholder’s original investment up to the amount of the Common Shareholder’s
tax basis in their Common Shares, which would reduce such tax basis. Although a return of capital may not be taxable, it will generally
increase the Common Shareholder’s potential gain, or reduce the Common Shareholder’s potential loss, on any subsequent sale
or other disposition of Common Shares. The Fund’s distributions have historically included, and may in the future include, a significant portion of return of capital. For the fiscal year ended November 30, 2024, the Fund’s distributions were comprised of approximately 30% ordinary income and 70% return of capital. Accordingly, shareholders should not assume that the source of a distribution from the Fund is net income or profit, and the Fund’s distributions should not be used as a measure of performance or confused with yield or income.

Alternatively, the Fund may
also distribute less than its net investment income in