NYSE: AMPY Amplify Energy Corp. May 2023 Investor Presentation May 3, 2023
Non-GAAP Disclosure Use of Non-GAAP Financial Measures. Amplify uses the non-GAAP financial measures of Adjusted EBITDA, free cash flow, net debt, and PV-10. Amplifys non- GAAP financial measures should not be considered as alternatives…
Resumption of Operations at the Beta Field Operations Update On April 10, 2023, Amplify announced it received the required approvals from federal regulatory agencies to restart operations at the Beta field The Company returned the…
Key Highlights Focused Delivered 26 MM of Adjusted EBITDA in 1Q23 Operational Excellence1 Successfully returned the Beta field to production driving future margin enhancement Participating in non-operated development opportunities…
Robust, Low-Decline, Cash Generating Assets Asset Overview Asset Locator Map Diversified Production: 50/50 liquids and gas mix (30% oil) from 5 producing basins in different areas of the U.S. mitigates regional pricing and…
Amplify Corporate ESG Profile Dramatically reducing GHG emissions by optimizing asset infrastructure Environmental No routine methane flaring Focus Performing platform electrification and other emissions reducing projects at…
Compelling Valuation with Additional Upside Key Points 1P Reserves Summary1 1P reserve value at NYMEX strip pricing is substantially Net Total % PD PV-10 & PUD PV-201,7 (WTI / HH) Category greater than Amplify's current enterprise…
Amplify Value Proposition Sustainable free cash flow through efficiently Capital allocation focused on prudent operating low-decline, high margin assets1 asset reinvestment and enhancing shareholder value Mature, diverse asset…
Low-Decline, Mature Producing Properties Key Points Net YE 2022 Strip PD Production Forecast (MBoe/d)2 Amplify's PD reserves base is expected to generate 25 substantial free cash flow over the next ten years and 20 Production…
Maintaining Financial Discipline Through Cycles Key Points Free Cash Flow Over Time ( MM)1,2,3 Our diversified, low-decline, PDP-heavy portfolio, paired with a commitment to Revenue Controllable Costs Non-Controllable Costs Capex…
Investment Highlights Improved Leverage and Return of Beta Production Provides Strategic Optionality to Drive Shareholder Value and Potentially Return Capital to Shareholders Implied year-end 2022 PD equity value represents a 120%…
Appendix NYSE: AMPY
2023 Guidance and Details FY 2023E Low High Net Average Daily Production (Includes Beta Production) Oil (MBbls/d) 7.3 - 7.9 NGL (MBbls/d) 3.4 - 3.8 Natural Gas (MMcf/d) 55.7 - 61.7 Total (MBoe/d) 20.0 - 22.0 Commodity Price…
Solidified FCF Generation with Pricing Upside Key Points Oil Hedge Position1,2,3 Recently took advantage of the volatility present in the crude market to improve the floor and ceilings on our collar 40 50% positions in April…
Crude Hedge Detail Bal23-2024 Crude Hedge Breakdown Period Bal231 FY2024 Strip Pricing as of 4/21/2023 76.70 72.28 Swap Total Volumes (MBbl) 495 100 Daily Volumes (Bbl/d) 1,800 273 W. Avg. Fixed Price (/Bbl) 57.31 70.00 3-Way…
Natural Gas Hedge Detail Bal23-2024 Natural Gas Hedge Breakdown Period Bal231 FY2024 Strip Pricing as of 4/21/2023 2.68 3.58 Traditional Collar Total Volumes (MMcf) 11,540 2,650 Daily Volumes (Mcf/d) 41,964 7,240 W. Avg. Ceiling…
Oklahoma Overview 1Q23 Production YE 2022 PD Reserves (MBoe/d) (MMBoe) Other Amplify Assets Oklahoma Key Stats Net Acres: 95,000 acres1 WI %: 76%1 Net Production: 6.2 MBoe/d2 Liquids Mix: 49%2 PD Reserves: 33.4…
Rockies (Bairoil) Overview 1Q23 Production YE 2022 PD Reserves (MBoe/d) (MMBoe) Amplify Leasehold Fremont Carbon Other Amplify Assets Rockies Sweetwater Key Stats Net Acres: 7,000 acres1 WI %: 100%1 Net Production: 3.4…
Southern California (Beta) Overview Federal Waters 3Q21 Production YE 2022 PD Reserves (MBoe/d) (MMBoe) Other Amplify Assets Southern California Key Stats Net Acres: 17,000 acres1 WI %: 100%1 Net Production: 3.7 MBoe/d2 Oil…
East Texas / North Louisiana Overview 1Q23 Production YE 2022 PD Reserves (MBoe/d) (MMBoe) Other Amplify Assets ETX / NLA Key Stats Net Acres: 180,000 acres1 WI %: 56%1 Net Production: 8.8 MBoe/d2 Liquids Mix: 26%2 PD…
Eagle Ford Overview 1Q23 Production YE 2022 PD Reserves (MBoe/d) (MMBoe) DeWitt Other Amplify Assets Eagle Ford Key Stats Net Acres: 800 acres1 WI %: 8%1 Net Production: 1.0 MBoe/d2 Liquids Mix: 90%2 PD Reserves: 1.7…
Non-GAAP Reconciliations Twelve Months Twelve Months Twelve Months Three Months Three Months Three Months Three Months Three Months Ended Ended Ended Ended Ended Ended Ended Ended December 31, 2022 December 31, 2021 December 31,…
Non-GAAP Reconciliations (Contd) Twelve Months Twelve Months Twelve Months Three Months Three Months Three Months Three Months Three Months Ended Ended Ended Ended Ended Ended Ended Ended December 31, 2022 December 31, 2021…
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