EXPANDED AND EXTENDED CREDIT FACILITY, AND NEW TERM LOAN

HOUSTON, Nov. 1, 2022 /PRNewswire/ -- Adams Resources & Energy, Inc. (NYSE AMERICAN: AE) ("Adams" or the "Company") today announced the repurchase of all of the shares of Adams common stock owned by KSA Industries, Inc. ("KSA"), the Company's largest stockholder, and members of the family of the late Kenneth Stanley Adams, Jr., the Company's founder, who are affiliated with KSA.  The sellers had previously announced their intention to pursue a sale of their shares in Adams. The total purchase price was approximately $70 million for 1,942,433 shares, or $36 per share. This represents approximately 44.2% of the total shares outstanding, reflecting an effective control position. The $36 share price represents approximately a 10% premium over the year-to-date weighted average daily closing share price as of October 28^th, 2022. Following the transaction, the Company will have 2,452,404 shares of common stock outstanding. The purchase will be funded by a combination of existing cash on hand and a new term loan.