Amplify Energy Corp.

Share Repurchase Program

The board of directors believes that the Company's current share price does not adequately reflect the underlying value of its assets, cash flow generation potential, and long-term strategic opportunities. As a result, the Board has approved a share repurchase program, reflecting its confidence in the Company's outlook and commitment to disciplined capital allocation. The Company believes opportunistic repurchases represent an attractive investment and an effective way to enhance long-term shareholder value. The authorization permits the repurchase of up to $15.0 million of Amplify's common stock, representing approximately 10% of the Company's currently outstanding shares using recent prices. Under the share repurchase program, repurchases may begin after market open on August 11, 2026 and continue through and including December 31, 2026.

Repurchases under the share repurchase program may be made from time to time through open market repurchases or through privately negotiated transactions subject to market conditions, applicable legal requirements, and other relevant factors. Open market repurchases may be structured to occur in accordance with the requirements of Rule 10b-18 under the Securities Exchange Act of 1934, as amended. The Company may also, from time to time, enter into Rule 10b5-1 plans to facilitate repurchases of shares of its common stock under this authorization. The Company is not obligated under the share repurchase program to acquire any particular amount of common stock, and the Company may terminate or suspend the share repurchase program at any time. The timing and actual number of shares repurchased may depend on a variety of factors, including price, general business and market conditions, and alternative investment opportunities.