diff --git a/ArcFormats/Valkyria/ArcAM2.cs b/ArcFormats/Valkyria/ArcAM2.cs
new file mode 100644
index 00000000..bc53683c
--- /dev/null
+++ b/ArcFormats/Valkyria/ArcAM2.cs
@@ -0,0 +1,69 @@
+//! \file       ArcAM2.cs
+//! \date       2018 Jun 05
+//! \brief      Valgyria multi-frame image format.
+//
+// Copyright (C) 2018 by morkt
+//
+// Permission is hereby granted, free of charge, to any person obtaining a copy
+// of this software and associated documentation files (the "Software"), to
+// deal in the Software without restriction, including without limitation the
+// rights to use, copy, modify, merge, publish, distribute, sublicense, and/or
+// sell copies of the Software, and to permit persons to whom the Software is
+// furnished to do so, subject to the following conditions:
+//
+// The above copyright notice and this permission notice shall be included in
+// all copies or substantial portions of the Software.
+//
+// THE SOFTWARE IS PROVIDED "AS IS", WITHOUT WARRANTY OF ANY KIND, EXPRESS OR
+// IMPLIED, INCLUDING BUT NOT LIMITED TO THE WARRANTIES OF MERCHANTABILITY,
+// FITNESS FOR A PARTICULAR PURPOSE AND NONINFRINGEMENT. IN NO EVENT SHALL THE
+// AUTHORS OR COPYRIGHT HOLDERS BE LIABLE FOR ANY CLAIM, DAMAGES OR OTHER
+// LIABILITY, WHETHER IN AN ACTION OF CONTRACT, TORT OR OTHERWISE, ARISING
+// FROM, OUT OF OR IN CONNECTION WITH THE SOFTWARE OR THE USE OR OTHER DEALINGS
+// IN THE SOFTWARE.
+//
+
+using System;
+using System.Collections.Generic;
+using System.ComponentModel.Composition;
+using System.IO;
+
+namespace GameRes.Formats.Valkyria
+{
+    [Export(typeof(ArchiveFormat))]
+    public class Am2Opener : ArchiveFormat
+    {
+        public override string         Tag { get { return "AM2"; } }
+        public override string Description { get { return "Valkyria multi-frame image"; } }
+        public override uint     Signature { get { return 0; } }
+        public override bool  IsHierarchic { get { return false; } }
+        public override bool      CanWrite { get { return false; } }
+
+        public override ArcFile TryOpen (ArcView file)
+        {
+            if (!file.Name.HasExtension (".am2"))
+                return null;
+            uint base_offset = file.View.ReadUInt32 (0) + 12;
+            int count = file.View.ReadInt32 (4);
+            if (base_offset >= file.MaxOffset || !IsSaneCount (count))
+                return null;
+            uint index_offset = 12;
+            var base_name = Path.GetFileNameWithoutExtension (file.Name);
+            var dir = new List<Entry> (count);
+            for (int i = 0; i < count; ++i)
+            {
+                var entry = new Entry {
+                    Name = string.Format ("{0}#{1:D4}.MG2", base_name, i),
+                    Type = "image",
+                    Offset = file.View.ReadUInt32 (index_offset) + base_offset,
+                    Size   = file.View.ReadUInt32 (index_offset+4),
+                };
+                if (!entry.CheckPlacement (file.MaxOffset))
+                    return null;
+                dir.Add (entry);
+                index_offset += 0xC;
+            }
+            return new ArcFile (file, this, dir);
+        }
+    }
+}