Agree Realty Corporation (NYSE: ADC) today announced that effective immediately Ambassador John Rakolta Jr. has rejoined the Company's Board of Directors (the "Board").

Ambassador Rakolta served on the Company's Board from 2011 until his confirmation as United States Ambassador to the United Arab Emirates in September 2019. Mr. Rakolta currently serves as the Chairman of Walbridge, one of the country's largest construction companies.

"We are extremely pleased to welcome John back to our Board of Directors," said Joey Agree, President and Chief Executive Officer. "His intellect, leadership, foresight and vision helped shape our Company and will be invaluable as we approach the next phase of Agree Realty's growth."

The Board has determined that Mr. Rakolta is independent in accordance with the NYSE listing standards and the Company's Corporate Governance Guidelines.