Adams Natural Resources Fund, Inc. (NYSE: PEO) has determined that $21.40 per share is the issue price for the closed-end fund’s year-end distribution to shareholders who have elected to receive all or a portion of the distribution in the form of stock. This price is the mean between the high and low sales prices of the Fund’s stock on the New York Stock Exchange on December 7, 2022.

The shares of common stock will be issued in connection with payment of the $1.33 year-end distribution, consisting of $0.53 in net investment income and $0.80 in net realized capital gains. The year-end distribution is payable on December 16, 2022.

The Fund has committed to distributing each year an amount equal to at least 6% of the Fund’s trailing 12-month average month-end market price. This year, the Fund is distributing an amount that results in an 8.1% annual distribution rate, exceeding the 6% commitment. Please see the information posted on our website, adamsfunds.com, for more details concerning the annual 6% minimum distribution rate commitment.

The Fund has paid out capital gains to its shareholders for 71 consecutive years and has paid dividends for 88 consecutive years.

Adams Funds

Since 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 85 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.

For further information please contact:adamsfunds.com/about/contact800.638.2479

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