Adams Natural Resources Fund, Inc. (NYSE: PEO) announces the Fund’s investment returns for 2021. “In a year of strong performance in the Energy and Materials sectors, we were pleased to generate a 47.7% return in 2021, outperforming our benchmark,” said Mark Stoeckle, CEO of Adams Funds.

The total return on the Fund’s net asset value for the year was 47.7%, with dividends and capital gains reinvested. The comparable figures for the S&P 500 Energy Sector and the S&P 500 Materials Sector were 54.6% and 27.3%, respectively. Our benchmark, which is comprised of the S&P 500 Energy Sector (70%) and the S&P 500 Materials Sector (30%), returned 46.4%. The total return on the Fund’s market price for the same period was 53.6%.

The Fund paid $0.91 per share in income dividends and realized capital gain distributions to shareholders in 2021, producing an annual distribution rate of 6.3%, exceeding the Fund’s annual 6.0% minimum distribution rate commitment. Details regarding the annual 6.0% minimum distribution rate commitment can be found at adamsfunds.com.

The 2021 Annual Report is expected to be released on or about February 18, 2022.

ANNUALIZED ONE, THREE, AND FIVE-YEAR COMPARATIVE RETURNS (12/31/21)

  1 Year   3 Year   5 Year  
Adams Natural Resources Fund (NAV) 47.7%   9.3%   1.9%  
Adams Natural Resources Fund (market price) 53.6%   11.0%   2.4%  
S&P 500 Energy Sector 54.6%   4.7%   -1.5%  
S&P 500 Materials Sector 27.3%   24.2%   15.1%  

NET ASSET VALUE ANNOUNCED

The Fund’s net asset value at the end of 2021, compared with the year earlier, was:

  12/31/21     12/31/20  
Net assets $470,588,987     $331,941,768  
Shares outstanding     24,484,588     24,121,714  
Net asset value per share $19.22     $13.76  

TEN LARGEST EQUITY PORTFOLIO HOLDINGS (12/31/21)

  % of Net Assets  
Exxon Mobil Corporation 15.9 %  
Chevron Corporation 13.8 %  
ConocoPhillips 7.3 %  
EOG Resources, Inc. 4.5 %  
Linde plc 4.3 %  
Marathon Petroleum Corporation 3.7 %  
Schlumberger N.V. 3.3 %  
Sherwin-Williams Company 2.7 %  
Valero Energy Corporation 2.7 %  
Devon Energy Corporation 2.4 %  
      Total 60.6 %  

SECTOR WEIGHTINGS (12/31/21)

  % of Net Assets  
Energy  
Integrated Oil & Gas 30.2 %  
Exploration & Production 24.4 %  
Refining & Marketing 7.9 %  
Storage & Transportation 5.6 %  
Equipment & Services 5.0 %  
Energy-Related 0.4 %  
   
Materials  
Chemicals 15.5 %  
Metals & Mining 4.0 %  
Construction Materials 3.6 %  
Containers & Packaging 2.7 %  

About Adams FundsSince 1929, Adams Funds has consistently helped generations of investors reach their investment goals. Adams Funds is comprised of two closed-end funds, Adams Diversified Equity Fund, Inc. (NYSE: ADX) and Adams Natural Resources Fund, Inc. (NYSE: PEO).The Funds are actively managed by an experienced team with a disciplined approach and have paid dividends for more than 80 years across many market cycles. The Funds are committed to paying an annual distribution rate of 6% or more, providing reliable income to long-term investors. Shares can be purchased through our transfer agent or through a broker. For more information about Adams Funds, please visit: adamsfunds.com.

Contact:Shareholder Communicationsinvestorrelations@adamsfunds.com

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