Date: 5/13/2022

Title: Ames National Corporation Announced A New Chairman of the Board (5/13/22)

AMES NATIONAL CORPORATION ANNOUNCED A NEW CHAIRMAN OF THE BOARD

After serving on Ames National Corporation’s (the “Company”) Board of Directors for 15 years and as Chairman of the Board for five years, Thomas H. Pohlman has elected to resign as Chairman of the Board. Mr. Pohlman will remain on the Company’s Board of Directors until the end of his current term, which expires April of 2023. John Nelson, Chief Executive Officer, and President of the Company commented, “We are thankful for the leadership that Tom has provided the Company and its affiliate banks as CEO, Chair, board member and President of First National Bank over the past 22 years. He has been a great mentor and sounding board for our management teams.” Mr. Pohlman will reach the Company’s policy maximum age for a director at the end of his current term.

On May 11, 2022, the Board of Directors appointed Patrick G. Hagan as Chairman of the Board beginning May 12, 2022. Pohlman will work closely with Mr. Hagan before his term ends to facilitate a smooth transition of his leadership role. Mr. Hagan has served as a director of the Company since 2017 and as director of the Company’s affiliate Boone Bank & Trust Co. since 2015. Mr. Hagan brings a wealth of leadership, business and banking experience. He retired in 2019, last serving as the Senior Vice President and Treasurer of Fareway Stores, Inc., a privately owned company operating grocery stores in Iowa, Illinois, Kansas, Minnesota, South Dakota, and Nebraska. Prior to joining Fareway, he served as an Executive Officer and Director at several community banks in Iowa. John Nelson added. “We are looking forward to Pat continuing to provide guidance and leadership for Ames National Corporation.