X0508 5 2025-12-31 0 0 0 0000216851 ADAMS NATURAL RESOURCES FUND, INC. PEO 0001423744 Dale Kenneth James ADAMS FUNDS 500 EAST PRATT STREET, SUITE 1300 BALTIMORE MD 21202 1 0 0 0 0 Common Stock 2025-12-31 5 A 0 771.1475 0 A 15130.917 D Common Stock 2025-12-31 5 J 0 487 0 A 15617.917 I By Trust These shares were acquired in exempt transactions as a result of dividend reinvestment. The Issuer's stock traded in a range of $23.91 - $18.47 during 2025. Of these shares, 277.26751 shares were acquired in exempt transactions as a result of dividend reinvestment and 493.880 shares accrued as dividend equivalents on deferred stock units (shares received in lieu of director retainer fees). The Issuer's stock traded in a range of $23.91 - $18.47 during 2025. A fractional share in the amount of 0.06 was issued as part of the DSU's (granted in lieu of a 2015 deferred cash retainer) & DE shares earned. The fractional share was surrendered as non-transferable to a registered account. Kenneth James Dale TTEE Kenneth J Dale Rev Liv Trust Gail L. Valenti as Attorney-in-Fact for Kenneth James Dale 2026-02-12