Company: SRV
Filing Date: 2025-01-14
Form Type: 424B2
Source: 0001398344-25-000635
Chunk: 11

Company: NXG Cushing Midstream Energy Fund
Filing Date: 2025-01-14
Form: 424B2
Chunk 11
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 payable monthly, in an amount equal to 1.25% of the Fund’s average weekly           
 Managed Assets (net assets plus any assets attributable to Financial Leverage). The fee shown above is based upon outstanding Financial 
 Leverage of 29% of the Fund’s Managed Assets (or 42% of the Fund’s net assets attributable to common shares). If Financial              
 Leverage of more than 29% of the Fund’s Managed Assets (or 42% of the Fund’s net assets attributable to common shares) is               
 used, the management fees, as a percentage of net assets attributable to common shares, would be higher than as shown above.            |

| (6) | The Investment Adviser has contractually agreed to waive a portion of the management fee in an amount equal to 0.25% of the Fund’s 
 Managed Assets through February 1, 2025. The Fund’s annual expenses after giving effect to such management fee waiver are:         |

| S-4 |

| Annual Expenses                           | Percentage of Net Assets         
 Attributable to Common Shares(4) |
| Management fees(5)                        | 1.78%                            |
| Interest payments on borrowed funds(7)    | 2.55%                            |
| Other expenses(8)                         | 0.52%                            |
| Total annual expenses (before fee waiver) | 4.85%                            |
| Fee Waiver                                | -0.36%                           |
| Net annual expense (after fee waiver)     | 4.50%                            |

| (7) | Based upon the Fund’s outstanding borrowings as of May 31, 2024 of approximately $51.3 million and the interest rate as of May 
 31, 2024, of 6.08%.                                                                                                            |

| (8) | “Other expenses” are estimated based upon those incurred during the fiscal year ended November 30, 2023. Other                 
 expenses do not include expense related to realized or unrealized investment gains or losses. See “Management of the Fund—Fund 
 Expenses” in the accompanying Prospectus.                                                                                      |

Example

The following example illustrates the expenses that
you would pay on a $1,000 investment in Common Shares, assuming (1) “Total annual expenses” of 4.85%, (2) the sales load of
$10.00 and estimated offering expenses of $1.92, and (3) a 5% annual return*:

|