Steven G. Chambers Joins the Boards of Directors of Adams Diversified Equity Fund and Adams Natural Resources Fund

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Adams Diversified Equity Fund (NYSE: ADX) and Adams Natural Resources Fund (NYSE: PEO) elected Steven G. Chambers as an independent director effective February 12, 2026.

Dr. Chambers brings 25+ years in educational technology and AI, prior CEO experience at Jibo, and current board roles in AI and consumer tech companies.

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BALTIMORE, Feb. 12, 2026 (GLOBE NEWSWIRE) -- The Boards of Directors of Adams Diversified Equity Fund (NYSE: ADX) and Adams Natural Resources Fund (NYSE: PEO), two of the nation’s oldest closed-end funds, announce the election of Steven G. Chambers as an independent director of the Funds, effective February 12, 2026.

Dr. Chambers is a seasoned leader and innovator in the educational technology space, leading a range of companies from start-ups to large tech company operations for more than 25 years. He brings broad experience in corporate leadership and governance to the Board, as well as deep understanding of AI and AI-supported developing technologies. As CEO of Jibo, Inc., Dr. Chambers developed the first social robot for the home, named Time Magazine’s Innovation of the Year for 2017. He is an experienced Board member and advisor, currently serving on the Boards of CallMiner, a conversation analytics company, Snorble, developer of a smart sleep assistant for children, and a Board advisor for several AI and language-driven technology companies.

“Steve’s experience complements the core strengths of the Board,” said James P. Haynie, CEO of the Funds. “We look forward to his contributions to Adams Funds and the benefit of his long experience in executive leadership.”

“I am honored to serve on the Board of Directors of Adams Funds,” said Dr. Chambers. “I am mindful that as they approach their one-hundredth year of operations, the Adams Funds remain two of the most well-respected closed-end funds in the market today. I look forward to working with my fellow Board members to ensure the continued growth and success of these historic Funds.”

About 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 90 years across many market cycles. The Funds are committed to paying a minimum annual distribution rate of 8% of NAV paid evenly each quarter throughout the year, providing reliability for long-term shareholders. A portion of any distribution may be treated as paid from sources other than net income, including but not limited to short-term capital gain, long-term capital gain, and return of capital. The final determination of the source of all distributions for tax reporting purposes in a calendar year, including the percentage of qualified dividend income, will be made after year-end. 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/contact │800.638.2479 

FAQ

Who is Steven G. Chambers and why was he added to ADX board on February 12, 2026?

He is an experienced educational technology and AI leader with 25+ years of experience. According to the company, Dr. Chambers brings corporate leadership, governance experience, and AI expertise to support the Funds' board oversight and strategy.

What roles does Steven G. Chambers currently hold that relate to his ADX board appointment?

He serves on multiple boards and advises AI and language-driven tech firms. According to the company, his current roles include board positions at CallMiner and Snorble and advisory work for other AI-focused companies.

When does Steven G. Chambers' directorship for ADX become effective and which funds are affected?

The directorship is effective February 12, 2026 for both Adams Diversified Equity Fund (NYSE: ADX) and Adams Natural Resources Fund (NYSE: PEO). According to the company, he was elected as an independent director of both funds on that date.

How does Steven G. Chambers' background at Jibo relate to his responsibilities on the ADX board?

He led development of an award-winning social robot and has CEO experience in consumer AI products. According to the company, this mix of product, executive, and AI experience informs his governance and technology oversight contributions.

What did Adams Funds' management say about Steven G. Chambers joining the board of ADX?

Management said his experience complements the board's core strengths and they anticipate valuable contributions. According to the company, leadership expects his executive background and governance expertise to benefit the Funds as they approach their centennial.