Amplify Energy Corp. · NYSE:AMPY
Amplify Energy — Investor Presentation (May 2026)
30 slides from Amplify Energy's investor presentation, May 11, 2026
Slide 1: Investor Presentation
NYSE: AMPY www.amplifyenergy.com Investor Presentation May 11, 2026
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included in th
Slide 3: Non-GAAP Disclosure / Oil and Gas Reserves
Non-GAAP Disclosure / Oil and Gas Reserves Use of Non-GAAP Financial Measures. Amplify uses the non-GAAP financial measures of Adjusted EBITDA, free cash flow, PV-10/20 and cash G&A. The accompanying schedules include the non-GAAP financial measures of Adjusted EBITDA, free cash flow, PV-10/20 and c
Slide 4: Executing on Amplify's Go-Forward Strategy
Executing on Amplify’s Go-Forward Strategy Simplify the Portfolio: – Divested assets in East Texas, Oklahoma, and the Eagle Ford for gross proceeds of approximately $250 MM – Streamlined corporate structure and reduced overhead through a right-sized organizational footprint – Reduced operational com
Slide 5: Portfolio Overview
Portfolio Overview Driving Value in Mature Oil Fields Amplify Energy operates two mature and prolific oilfields with Asset Locator Map significant upside as a 100% WI owner Bairoil Beta Bairoil Pacific Outer-Continental Shelf Greater Green River Basin, WY Discovered in 1977 by Royal Discovered i
Slide 6: Compelling Valuation with Additional Upside
Compelling Valuation with Additional Upside Key Points Proved Reserves Summary1 Proved reserve (1P) value at various flat pricing scenarios PD PV-10 & PUD PV-20 ($ MM)1,6 is greater than Amplify's current enterprise value Category At Various WTI Flat Oil Prices WTI Price: $60 $75 $90 Premium to
Slide 7: Beta Overview
Beta Overview Federal Waters Asset Locator Map Key Stats & Highlights Net Acres: ~17,000 acres1,3 ‒ WI %: 100% ‒ NRI%: ~75.2% Net Production: 3.7 MBoe/d2 Oil Mix: 100%2 1P Reserves: 24.6 MMBoe3 1P R/P: ~17 years3,4 P&A obligation supported by $172 MM of surety bonds, plus a growing sinki
Slide 8: Beta Geology & Reservoir Overview
Beta Geology & Reservoir Overview Beta is a large oil accumulation with similar reservoir characteristics as the onshore LA Basin fields Approximately 1 billion barrels of original oil in place with approximately 10% recovered to date; analogous onshore fields have demonstrated 30 – 40% recovery
Slide 9: Development Evolution & Risk Mitigation
Development Evolution & Risk Mitigation Key Points Legacy Development Current Development Continuous development analysis and improvement has led to the evolution from angled directional wellbores that commingle production from all six sandstones (A – F) to horizontal wellbores that contact more o
Slide 10: Average Net Production (Bopd)
Historical | Projected Production Growth Key Points Beta Production Growth Following the re-start of the Beta field in 6,000 Mid-Point of 2026 Production early 2023, production has grown Guidance Implies significantly from the completion of 6 ~20% growth rate at Beta development wells from 6/2024
Slide 11: Beta Development Well Locations
Beta Development Well Locations D-Sand Horizontal Development \ = Producing D sand Completion Ellen Joulters Fault Block (“FB”) Main Fault Four D-Sand horizontal wells Block completed in the Joulters fault block Joulters is largely undeveloped with virgin pressures and predicable oil saturation
Slide 12: Joulters Fault Block Overview
Joulters Fault Block Overview Total Resource Potential Joulters Fault Block Ideal for Full D-Sand Development Key Points Eureka Approximately 70 million barrels of Original Oil in Place (“OOIP”) in the D-Sand of the Joulters fault block Estimated recovery factor of 30% to 40%, implying total rec
Slide 13: Joulters Fault Block Development Results
Joulters Fault Block Development Results D-Sand Joulters Fault Block Drilling Results (Actual Production) vs. Type Curve Key Points1,2 C59 C54 C08 C04 Joulters D TC Updated Joulters type curve ~25% higher than previous 10,000 Beta type curve 3 wells drilled in the Joulters fault block to date as
Slide 14: Main Fault Block Development Results
Main Fault Block Development Results D-Sand Main Fault Block Drilling Results (Actual Production) vs. Type Curve Key Points1,2 A50 C61 Main FB D TC 2 wells drilled in the Main fault block to date as 10,000 horizontal wells in the D-Sand Gross Oil Rate (Bopd) − A50: 266’ completion interval; comple
Slide 15: D-Sand Current Development Inventory
D-Sand Current Development Inventory Key Points \ = Producing D sand Completion 28 total D Sand locations identified \ = Proposed D sand Completion − 21 Joulters FB location at average ~1,200’ lateral lengths − 7 Main FB locations at average ~1,000’ lateral lengths Joulters locations at approxim
Slide 16: 2024|2025 Beta Development Locations + Initial 2026 Planned Locations
2024|2025 Beta Development Locations + Initial 2026 Planned Locations Key Points \ = Producing D sand Completion Ellen The next 3 wells currently anticipated to \ = Proposed D sand Completion be drilled by early 3rd quarter consist of two wells in the Joulters fault block and Main Fault Block one
Slide 17: Beta Royalty Relief
Beta Royalty Relief Royalty relief was obtained at Beta effective May 1, 2026, which immediately increases net production and enhances margins Relief adds over ~600 net Bopd in production and more than $1 million per month in additional revenue at current pricing Our royalty burden on up to ~5
Slide 18: Bairoil Overview
Bairoil Overview Asset Locator Map Key Stats & Highlights Net Acres: ~7,000 acres1 ‒ WI %: 100% ‒ NRI%: ~88% Net Production: 2.7 MBoe/d2 Oil Mix: 100%2 1P Reserves: 17.2 MMBoe3 1P R/P: ~16 years3,4 2026 focus on cost savings and CCUS potential Long-life, low-decline oil-weighted produc
Slide 19: Amplify Focused on Optimizing Lifting Costs
Amplify Focused on Optimizing Lifting Costs Beta and Bairoil Opex Reductions Key Points Annual LOE, $ MM Bairoil $120 − New CO2 purchase contract and CO2 compression optimization project expected to generate ~$10 MM in 12% Decline LOE savings annually $100 − Currently evaluating power generation a
Slide 20: Improved G&A Cost Structure
Improved G&A Cost Structure Cash G&A Headcount Reductions Cost Reductions from Smaller Footprint Concluded all transition services related to the East Texas and Oklahoma divestitures 52% Decline 52% G&A headcount reduction following organizational streamlining Leaner cost base enhances operati
Slide 21: Investment Highlights
Investment Highlights Net Cash Position, Beta Development and Operational Efficiency Initiatives Drive Shareholder Value Implied Year-End 2025 1P Equity Value Represents a ~120 – 235% Premium to Current Share Price1,2 Beta Field Development Proves Up Additional Reserves and Profitability Bairoil Cos
Slide 22: Appendix
elaa ements —_ acini ae ier : Ps, i mm 7
Slide 23: Amplify Corporate ESG Profile
Amplify Corporate ESG Profile Streamlined the portfolio through the divestiture of higher-emission assets Environmental Performed platform electrification and other emissions reducing projects Focus at Beta Comprehensive employee health and safety program with dedicated EH&S personnel at each
Slide 24: 2026 Guidance and Details
2026 Guidance and Details FY 2026E Low High Net Average Daily Production Oil (MBbls/d) 6.7 - 7.9 Commodity Price Differential / Realizations (Unhedged) Oil Differential ($ / Bbl) ($6.00) - ($9.00) Average Costs Lease Operating ($ MM) $80 - $100 Taxes (% of Revenue)1 5.0% - 6.0% Gathering, Processing
Slide 25: Crude Hedge Detail
Crude Hedge Detail Key Points Amplify maintains a robust hedge book to support our cash flow profile and provide downside protection in weak commodity environments, with upside in higher pricing environments WTI: Bal26-2027 Crude Hedge Breakdown1 Brent: Bal26-2027 Crude Hedge Breakdown1 Period Bal
Slide 26: Non-GAAP Reconciliations
Non-GAAP Reconciliations Twelve Months Twelve Months Twelve Months Three Months Three Months Three Months Three Months Ended Ended Ended Ended Ended Ended Ended December 31, 2025 December 31, 2024 December 31, 2023 March 31, 2026 December 31, 2025 September 30, 2025 June 30, 2025 (Amounts in $000s)
Slide 27: Non-GAAP Reconciliations (Cont'd)
Non-GAAP Reconciliations (Cont’d) Twelve Months Twelve Months Twelve Months Three Months Three Months Three Months Three Months Ended Ended Ended Ended Ended Ended Ended December 31, 2025 December 31, 2024 December 31, 2023 March 31, 2026 December 31, 2025 September 30, 2025 June 30, 2025 (Amounts i
Slide 28: Non-GAAP Reconciliations (Cont'd)
Non-GAAP Reconciliations (Cont’d) Reconciliation of Total G&A to Cash G&A Amplify defines cash G&A as general and administrative expense, less share-based compensation expense; acquisition and divestiture costs; bad debt expense; severance payments, and other non-routine items that we deem appropria
Slide 29: Non-GAAP Reconciliations (Cont'd)
Non-GAAP Reconciliations (Cont’d) Reconciliation of PV-10 to Standardized Measure Amplify defines PV-10, which is a non-GAAP financial measure that represents the present value of estimated future cash inflows from proved oil and natural gas reserves that are calculated using the unweighted arithmet
Slide 30: NYSE: AMPY | amplifyenergy.com
NYSE: AMPY | amplifyenergy.com