PEO Overview

Quarterly Distribution Announcement: Adams Natural Resources Fund, Inc. declared a quarterly distribution of $0.49 per share, payable on December 19, 2025, with an option for shareholders to receive additional shares or cash.

Annual Distribution Rate: The total distributions for 2025 amount to $2.05 per share, representing an annual distribution rate of 8.4%.

Distribution Sources: The upcoming distribution consists of 29% net investment income and 71% return of capital, with similar proportions for year-to-date distributions.

Long-standing Commitment: This marks the 74th consecutive year of capital gains and the 91st year of dividend payments, reflecting the Fund's commitment to providing reliable income to shareholders.

Distribution Announcement: Adams Diversified Equity Fund, Inc. declared a distribution of $0.46 per share, payable on December 23, 2025, with an option for shareholders to receive additional shares or cash by December 10, 2025.

2025 Distribution Overview: The total distributions for 2025 amount to $1.85 per share, representing an annual distribution rate of 8.1%, with the majority sourced from return of capital.

Fund Performance Metrics: The Fund reported an average annual total return of 18.3% over the past five years and a cumulative fiscal year distribution rate of 7.3% as of October 31, 2025.

Long-standing Commitment: This marks the 61st consecutive year of capital gains payouts and the 90th year of dividend payments, reflecting the Fund's commitment to providing reliable income to shareholders.

Investment Returns: Adams Diversified Equity Fund reported a total return of 16.0% on its net asset value for the first nine months of 2025, outperforming the S&P 500 Index (14.8%) and the Morningstar U.S. Large Blend category (13.4%).

Net Asset Value and Holdings: As of September 30, 2025, the Fund's net assets increased to approximately $2.99 billion, with a net asset value per share of $24.61, and its largest equity holdings included NVIDIA, Microsoft, and Apple.

Sector Weightings: The Fund's portfolio is heavily weighted in Information Technology (34.5%), followed by Financials (13.1%) and Consumer Discretionary (10.7%).

Long-term Commitment: Adams Funds has a history of paying dividends for over 90 years and aims for a minimum annual distribution rate of 8% of NAV, ensuring reliability for long-term shareholders.