X0306 5 2018-12-31 0 0 0 0000216851 ADAMS NATURAL RESOURCES FUND, INC. PEO 0001009234 ARZAC ENRIQUE R 500 EAST PRATT STREET, SUITE 1300 BALTIMORE MD 21202 1 0 0 0 Common Stock 2018-12-31 5 A 0 1412.97 0 A 19324.499 D Common Stock 2018-12-31 5 J 0 116.558 0 A 19441.057 I By Trust Common Stock 2018-12-31 5 J 0 0.92 0 D 19440.137 D Of these shares, 707.970 shares accrued as dividend equivalents on deferred stock units (shares received in lieu of director retainer fees). An additional 705 shares accrued as dividend equivalents on 400 restricted stock units, which were granted in 2006 and deferred until 12/31/2018. The Issuer's stock traded in a range of $13.61 - $21.48 during 2018. These shares were acquired in exempt transactions as a result of dividend reinvestments. The Issuer's stock traded in a range of $13.61 - $21.48 during 2018. By the Enrique R. Arzac TTEE The Enrique R. Arzac TR UA DTD 12/28/2012 Trust. This fractional share was issued as part of DSU's (granted in lieu of a 2006 deferred cash retainer) & DE shares earned. The fractional share was surrendered as non-transferrable to a registered account. Gail L. Valenti as Attorney-in-Fact for Enrique R. Arzac 2019-02-11