X0306 4 2020-12-17 0001792849 HighPeak Energy, Inc. HPK 0001821852 Gustin Michael H. 421 W. 3RD STREET, SUITE 1000 FORT WORTH TX 76102 1 Common Stock, par value $0.0001 per share 2020-12-17 4 S 0 2000 13.70 D 16914 I By Family Trust Common Stock, par value $0.0001 per share 2020-12-23 4 S 0 12500 19.30 D 4414 I By Family Trust The price reported in Column 4 is a weighted average price. These shares of common stock, par value $0.0001 per share ("common stock") of HighPeak Energy, Inc. (the "Issuer"), were sold in multiple transactions at prices ranging from $12.45 to $14.34, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the U.S. Securities and Exchange Commission (the "SEC"), upon request, full information regarding the number of shares of common stock of the Issuer sold at each separate price within the ranges set forth in this footnote (1) to this Form 4. The price reported in Column 4 is a weighted average price. These shares of common stock of the Issuer were sold in multiple transactions at prices ranging from $17.83 to $19.97, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares of common stock of the Issuer sold at each separate price within the ranges set forth in this footnote (2) to this Form 4.. /s/ Steven W. Tholen as Attorney in Fact for Michael H. Gustin 2022-04-18