Adams Diversified Equity Fund Declares Distribution and Announces First Quarter Performance

The Board of Directors of Adams Diversified Equity Fund, Inc. (NYSE: ADX) today declared a distribution of $.05 per share from net investment income, payable June 1, 2022, to shareholders of record May 18, 2022. This distribution represents the second payment this year toward the Fund’s annual 6% minimum distribution rate commitment, which can be found at adamsfunds.com.

FIRST QUARTER PERFORMANCE

For the three months ended March 31st, the total return on Adams Diversified Equity’s net asset value, with dividends and capital gains reinvested, was -4.2%. Comparable figures for the S&P 500 and the Morningstar U.S. Large Blend category were -4.6% and -5.0%, respectively. The total return on the market price of the Fund’s shares for the period was -4.7%.

For the twelve months ended March 31st, the total return on Adams Diversified Equity’s net asset value, with dividends and capital gains reinvested, was 17.5%. Comparable figures for the S&P 500 and the Morningstar U.S. Large Blend category were 15.7% and 12.9%, respectively. The total return on the market price of the Fund’s shares for the period was 16.8%.

NET ASSET VALUE

	3/31/2022	3/31/2021
Net assets	$2,533,172,745	$2,348,986,742
Shares outstanding	117,872,270	111,027,037
Net asset value per share	$21.29	$21.16

The First Quarter Report to Shareholders is expected to be released on or about April 27, 2022.

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 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:800.638.2479 │ [e-mail]