ADX · Adams Diversified Equity Fund, Inc. · Insider Trading

Purchase by adult child of the reporting person in individual account in the child's name. The child is a college student whose permanent address is the reporting person's household.

Purchase by adult child of the reporting person in individual account in the child's name. The child is a college student whose permanent address is the reporting person's household.

Purchase by adult child of the reporting person in individual account in the child's name. The child is a college student whose permanent address is the reporting person's household.

Purchase by adult child of the reporting person in individual account in the child's name. The child is a college student whose permanent address is the reporting person's household.

These shares were acquired in exempt transactions as a result of dividend reinvestments. The Issuer's stock traded in a range of $23.85 - $16.51 during 2025.

These shares were acquired in exempt transactions as a result of dividend reinvestments, thrift plan employee contributions, and employer matching contributions. The Issuer's stock traded in a range of $23.85 - $16.51 during 2025.

These shares were acquired in exempt transactions as a result of dividend reinvestments. The Issuer's stock traded in a range of $23.85 - $16.51 during 2025.

These shares were acquired in exempt transactions as a result of dividend reinvestments, thrift plan employee contributions, and employer matching contributions. The Issuer's stock traded in a range of $23.85 - $16.51 during 2025.

These shares were acquired in exempt transactions as a result of dividend reinvestment. The Issuer's stock traded in a range of $23.85 - $16.51 during 2025.

Kenneth James Dale TTEE Kenneth J Dale Rev Liv Trust

These shares were acquired in exempt transactions as a result of dividend reinvestments. The Issuer's stock traded in a range of $23.85 - $16.51 during 2025.

Jane Musser Nelson REV Trust, Jane Musser Nelson and Gordon L. Nelson, Trustees

Mr. Stoeckle retired from the Boards of ADX on 03/31/2025.

These shares were acquired in exempt transactions as a result of dividend reinvestments, thrift plan employee contributions, and employer matching contributions. The Issuer's stock traded in a range of $23.85 - $16.51 during 2025.

These shares were acquired in exempt transactions as a result of dividend reinvestments and are held in a Trust Account. (The Sheila M. Hook Living Trust)

These shares were acquired in exempt transactions as a result of dividend reinvestments, thrift plan employee contributions, and employer matching contributions. The Issuer's stock traded in a range of $23.85 - $16.51 during 2025.

These shares were acquired in exempt transactions as a result of dividend reinvestment. The Issuer's stock traded in a range of $23.85 - $16.51 during 2025.

Of these shares, 330.9031 shares were acquired in exempt transactions as a result of dividend reinvestment and 740.99 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 $23.85 - $16.51 during 2025.

A fractional share in the amount of 0.66 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.

These shares were acquired in exempt transactions as a result of dividend reinvestment. The Issuer's stock traded in a range of $23.85 - $16.51 during 2025.

These shares were acquired in exempt transactions as a result of dividend reinvestments. The Issuer's stock traded in a range of $17.18 - $22.62 during 2024.

These shares were acquired in exempt transactions as a result of dividend reinvestments, thrift plan employee contributions, and employer matching contributions. The Issuer's stock traded in a range of $17.18 - $22.62 during 2024.

Of these shares, 1,474.894 shares were acquired in exempt transactions as a result of dividend reinvestment and 1,064.36 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 $17.18 - $22.62 during 2024.

These shares were acquired in exempt transactions as a result of dividend reinvestments, thrift plan employee contributions, and employer matching contributions. The Issuer's stock traded in a range of $17.18 - $22.62 during 2024.

These shares were acquired in exempt transactions as a result of dividend reinvestment. The Issuer's stock traded in a range of $17.18 - $22.62 during 2024.

These shares were acquired in exempt transactions as a result of dividend reinvestments. The Issuer's stock traded in a range of $17.18 - $22.62 during 2024.

Jane Musser Nelson REV Trust, Jane Musser Nelson and Gordon L. Nelson, Trustees.

These shares were acquired in exempt transactions as a result of dividend reinvestments, thrift plan employee contributions, and employer matching contributions. The Issuer's stock traded in a range of $17.18 - $22.62 during 2024.

These shares were acquired in exempt transactions as a result of dividend reinvestments and are held in a Trust Account. (The Sheila M. Hook Living Trust)

These shares were acquired in exempt transactions as a result of dividend reinvestments. The Issuer's stock traded in a range of $17.18 - $22.62 during 2024.

This footnote was inadvertently omitted in the initial Form 5 filing: These shares were acquired in exempt transactions as a result of dividend reinvestments, thrift plan employee contributions, and employer matching contributions. The Issuer's stock traded in a range of $17.18 - $22.62 during 2024.

Jane Musser Nelson REV Trust, Jane Musser Nelson and Gordon L. Nelson Trustees

These shares were acquired in exempt transactions as a result of dividend reinvestments, thrift plan employee contributions, and employer matching contributions. The Issuer's stock traded in a range of $14.36 - $17.93 during 2023.

These shares were acquired in exempt transactions as a result of dividend reinvestments. The Issuer's stock traded in a range of $14.36 - $17.93 during 2023.

Jane Musser Nelson REV Trust, Jane Musser Nelson and Gordon L. Nelson, Trustees

These shares were acquired in exempt transactions as a result of dividend reinvestment. The Issuer's stock traded in a range of $14.36 - $17.93 in 2023.

For The Sheila M. Hook Living Trust.

These shares were acquired in exempt transactions as a result of dividend reinvestments. The Issuer's stock traded in a range of $14.36 - $17.93 during 2023.

Of these shares, 690.259 shares were acquired in exempt transactions as a result of dividend reinvestment and 622.650 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 $14.36 - $17.93 during 2023.

These shares were acquired in exempt transactions as a result of dividend reinvestments, thrift plan employee contributions, and employer matching contributions. The Issuer's stock traded in a range of $14.36 - $17.93 in 2023.

These shares were acquired in exempt transactions as a result of dividend reinvestments, thrift plan employee contributions, and employer matching contributions. The Issuer's stock traded in a range of $14.36 - $17.93 in 2023.

One share previously reported represented a combination of fractional shares that were liquidated.

These shares were acquired in exempt transactions as a result of dividend reinvestments, thrift plan employee contributions, and employer matching contributions. The Issuer's stock traded in a range of $14.36 - $17.93 during 2023.

These shares were acquired in exempt transactions as a result of dividend reinvestment. The Issuer's stock traded in a range of $14.36 - $17.93 during 2023.

(1) Jane Musser Nelson REV Trust, Jane Musser Nelson and Gordon L. Nelson, Trustees

Director Retirement

Of these shares, 865 accrued as dividend equivalents on 750 deferred stock units granted in 2008 and issued on 01/05/2023 (shares received in lieu of director retainer fees). The Issuer's stock traded in a range of $14.36 - $16.07 during the period of January 1, 2023 to April 20, 2023.

Kathleen T. McGahran and Myra Koutzen TTEES of the McGahran/Koutzen TR U/A DTD 06/23/2016.

Director Retirement

Of these shares, 709 accrued as dividend equivalents on 750 deferred stock units granted in 2013 and issued on 01/03/2023 (shares received in lieu of director retainer fees). The Issuer's stock traded in a range of $14.36 - $16.07 during the period of January 1, 2023 to April 20, 2023.

Kathleen T. McGahran and Myra Koutzen TTEES of the McGahran/Koutzen TR U/A DTD 06/23/2016.

These shares were acquired in exempt transactions as a result of dividend reinvestments. The Issuer's stock traded in a range of $14.20 - $19.61 during 2022.

Myra Koutzen IRA

These shares were acquired in exempt transactions as a result of dividend reinvestments, thrift plan employee contributions, and employer matching contributions. The Issuer's stock traded in a range of $14.20 - $19.61 during 2022.

These shares were acquired in exempt transactions as a result of dividend reinvestments, thrift plan employee contributions, and employer matching contributions. The Issuer's stock traded in a range of $14.20 - $19.61 during 2022.

These shares were acquired in exempt transactions as a result of dividend reinvestments, thrift plan employee contributions, and employer matching contributions. The Issuer's stock traded in a range of $14.20-$19.61 during 2022.