Amplify Energy Corp.

Bairoil

At Bairoil, Amplify continues to focus on enhancing asset value through operating efficiency, cost discipline, and the evaluation of carbon capture, utilization and sequestration (“CCUS”) opportunities. The Company believes Bairoil is well positioned for CCUS development given its reservoir characteristics, existing CO₂ infrastructure, and proximity to established CO₂ transportation corridors. Management continues to evaluate opportunities that could leverage these attributes to create incremental long-term value, extend the field life, and enhance future cash flow, while maintaining a disciplined and measured approach to capital investment.

Bairoil production during the first quarter of 2026 was impacted by compressor run time interruptions, which led to temporary production curtailments across the field. Compression operations have since been restored, and base production is expected to return to prior rates.

Notably, the downtime associated with these interruptions allowed the operations team to complete planned maintenance at the CO₂ gas plant that had originally been scheduled for mid-year. As a result, the Company will avoid a future planned shutdown, enabling continued operations and helping keep full year Bairoil production projections within guidance expectations.

Looking forward, Amplify remains focused on maximizing the long-term value of the Bairoil asset through continued operational optimization and the advancement of CCUS initiatives that have the potential to generate additional cash flow and strategic optionality. Management believes these efforts, combined with improving operational reliability, position Bairoil to play an increasingly important role in the Company’s long-term value creation strategy.