2 ■ Extensive in-house product development capabilities − Strong product development − State-of-the-art instruments − Animal studies − Clinical research team ■ Control over quality and compliance throughout the product development and manufacturing cycle ■ Fully integrated back end manufacturing capabilities − API and starting materials − Key components ■ Complete front end integration − Marketing − Distribution Fully Integrated Business Model Product Development API /Key Components Manufacturing Finished Product Manufacturing Marketing Distribution

3 Company Overview: Amphastar Facilities Vertically integrated from R&D to clinical trials, manufacturing, marketing and distribution

4 Focus on Products With High Technical Barriers ■ Scarcity of API requires unique synthetic or rDNA capabilities ■ Characterization for complex molecules ■ Immunogenicity studies for proteins and complex molecules ■ Difficult or complex manufacturing processes ■ Proprietary delivery technologies: PFS, MDI, IN and sustained release ■ Particle engineering from nm to μm ■ Innovative formulations Products with: • Large markets • High technical barriers to entry Focused on: • Injectables • Inhalation • Biosimilar • Interchangeable High Technical Barriers to Entry

5 Company Overview: Milestones of Pipeline Development Drug Name Regulatory Indication Description Hyaluronidase NDA→BLA Adjuvant Protein, injectable Enoxaparin ANDA Deep Vein Thrombosis Polysaccharide, injectable, combination product Primatene MIST® NDA Intermittent Asthma Asthma inhaler, OTC, MDI, combination product Glucagon ANDA Hypoglycemia Highly purified peptide, injectable; emergency use combination product

6 Company Overview: Commercial Product Portfolio ■ Diverse core of over 20 commercial products ■ Injectable and MDI products; including complex, combination products ■ Indications include: deep vein thrombosis, asthma, opioid overdose, pain management, anesthesia and hypoglycemia − Enoxaparin − Glucagon − Lidocaine Injection and Jelly − Vitamin K1 − Naloxone − Primatene MIST® − Medroxyprogesterone − Epinephrine − Cortrosyn® ■ Consistent revenues and cash flow

9 ■ Strategic focus to make substantial R&D investments to expand our product portfolio and grow our business ■ Leveraging technical capabilities and/or identify and develop high- margin opportunities ■ We believe our emphasis and investment in R&D differentiates us from our competitors as our focus is on the long-term growth of our company ■ We have over 300 employees dedicated to R&D Focused on R & D Investment Self-funded R&D investment of approximately $262 million in the recent 5 years ($ millions) R&D as % of Revenue 15% 18% 20% 21% 19%

10 ■ Established to provide APIs and starting materials to Amphastar ■ Current portfolio of APIs and starting materials - 4 FDA approvals for Amphastar’s NDA/ANDA - 14 DMFs on file with the FDA for Amphastar’s pipeline candidates - Several additional DMFs in development Amphastar Nanjing Pharmaceuticals (ANP) Overview

11 Amphastar Nanjing Pharmaceuticals (ANP) Development ■ Sold 42% of ANP ownership for $57 million in 2018 to fund: - ANP’s API facility including rDNA products - Manufacturing and selling API and finished product to the China market

12 Pipeline – ANDA with Technical Barriers ■ Three Injectable ANDAs in development targeting products with IQVIA sales of approximately $3 Billion ■ Five Inhalation ANDAs in development targeting products with IQVIA sales of approximately $8 Billion ■ Most of them with technical barriers ■ Technical Platforms to be used: characterization, particle-engineering, sustained-release, peptide technology and immunogenicity Generic Pipeline, 12 Candidates with Technical Barriers ■ Four filed ANDAs with IQVIA* sales of approximately $1.6 Billion including: − AMP 002 – High technical barrier product with > $300 mm IQVIA sales and no approved generics − Received CRL 12/2020, and plan to respond in Q1 2021 − Currently on file for generic Lexiscan® and Vasostrict ® − AMP-006 - Injectable product with IQVIA sales > $50 mm *IQVIA sales with TTM as of September 30, 2020

13 Pipeline – Insulin and Proteins, Biologics License Applications (BLAs) ■ Three candidates of Insulins (“Insulin Program”) and Proteins ■ Significant US market: IQVIA sales ~$13 Billion, ~130 millions of units ■ Need sophisticated rDNA technology, state-of-the-art analytical technology, and significant investment on development ■ Regulatory route: Biological License Application (BLA) 351(k) (Biosimilar) and aim at Interchangeable Insulin ■ Recent FDA Guidance “… if a comparative analytical assessment based on state-of-the-art technology supports a demonstration of “highly similar” for a proposed biosimilar or interchangeable insulin product, there would be little or no residual uncertainty regarding immunogenicity; in such instances, the proposed biosimilar or interchangeable insulin product, like the reference product, would be expected to have minimal or no risk of clinical impact from immunogenicity. In such instances, a comparative clinical immunogenicity study generally would be unnecessary to support a demonstration of biosimilarity or interchangeability.” (FDA Guidance, November 2019, Emphasis Added.) Insulins and Proteins, Biosimilar and/or Interchangeable *IQVIA sales with TTM as of September 30, 2020

14 Pipeline – Insulin and Proteins, BLAs ■ FDA Guidance established regulatory route by analytical assessment based on state-of-the-art technology supports a demonstration of “highly similar” and heavy clinical study for immunogenicity would be “unnecessary” ■ API Manufacturing: rDNA technology, by AFP and ANP ■ First INDs for the Insulin Program have been filed or in the process to file; ■ Clinical program for an IND in the Insulin Program is in process ■ Cost of clinical program for Insulin products could potentially be significantly reduced Insulins and Proteins, Biosimilar and/or Interchangeable

15 Pipeline – Proprietary Pipeline, New Drug Applications (NDAs) Proprietary Pipeline NDA ■ Development of innovative proprietary products requires sophisticated technology ■ Amphastar’s proven R&D and technical platforms support the development of proprietary pipeline candidates ■ Amphastar has expertise in clinical studies to support the NDA development; the NDA 505(b)(2) regulatory route requires clinical studies with a smaller sample size ■ Naloxone Intranasal, NDA is pending, planned response to CRL in 2021; ■ Epinephrine Intranasal, Phase I study completed with successful results ■ Two candidates are in active development phase ■ More pipeline candidates are in the early stage

16 ■ The first and only FDA approved generic Glucagon for Injection in 20 years ■ Highly-purified synthetic peptide product was determined by FDA to be bioequivalent and therapeutically equivalent to Eli Lilly’s Glucagon Emergency Kit, which has recombinant DNA (rDNA) origin ■ Highlights the Company’s sophisticated characterization technology ■ Commercial launch planned within two months of approval ■ Sales of Eli Lilly’s Glucagon Emergency Kit were approximately $144 million* Glucagon for Injection Kit Launch *IQVIA 12 months ended September 30, 2020

17 Primatene MIST® History ■ Primatene MIST®, a proprietary and patent protected over- the-counter epinephrine inhalation product ■ The only FDA approved asthma inhaler available OTC ■ Purchased U.S. trademark from Wyeth in 2008 ■ Intensive cardiovascular studies >40,000 data points ■ Special label design for the OTC setting (extensive human factors label studies) ■ Approved November 2018, launched December 2018

18 Primatene MIST® Marketing Update ■ Improvements from Primatene MIST ® CFC − Higher delivery efficiency, with improved efficacy at a lower dose − Dose indicator − Aluminum container instead of glass − HFA propellant replaces CFC ■ Effective TV and Radio advertising campaign began in July 2019 with national coverage ■ Multiple scientific articles were published in support of safe and effective use *Amazon, CVS, Walgreens, Walmart, Rite Aid, and Kroger, including logos, are trademarks of their respective owners. Available OTC nationwide at: