ISS Recommends Shareholders Vote "FOR" Amplify's Proposed Acquisition of Assets from Juniper Capital

Core Viewpoint - Amplify Energy Corp. has received a recommendation from Institutional Shareholder Services (ISS) to vote "FOR" its proposed merger with Juniper Capital's upstream Rocky Mountain portfolio companies, indicating that the merger is expected to enhance growth and long-term shareholder value [1][2]. Summary by Relevant Sections Merger Recommendation - ISS concluded that Amplify has conducted a reasonable process for the merger, which is deemed better than a standalone scenario due to increased scale, projected free cash flow accretion, synergy opportunities, and enhanced portfolio optimization [2]. Financial Impact - The merger is anticipated to significantly strengthen Amplify's financial position, diversify its asset base, and create operational efficiencies [2]. - Projected free cash flow per share is expected to increase from $0.50 to greater than $0.70 [6]. - Total proved reserve value is projected to rise approximately 89%, from $688 million to $1.3 billion [6]. Operational Enhancements - The new asset base from Juniper is expected to accelerate value creation through portfolio optimization and lower operating costs, improving resilience in varying commodity price environments [6]. - The merger is expected to unlock meaningful operating synergies, with pro-forma Adjusted EBITDA per BOE projected to increase by 40% and pro-forma G&A per BOE expected to decrease by over 20% due to economies of scale [6]. Shareholder Value Preservation - Increased free cash flow and scale, along with expected refinancing, are projected to enhance liquidity and flexibility, providing options to reduce leverage and return capital to shareholders [6]. Special Meeting Details - The Special Meeting of Shareholders to approve the merger proposals is scheduled for April 14, 2025, at 9:00 a.m. Central Time [4].