1Q23 Earnings and Operations Update

CCA EOR- Initial Phase 1 Response Expected in 2Q23 1st CO2 Recycle Facility Commissioned in March 2023; Commissioning of 2nd Recycle Facility Underway - - Ongoing construction of 2 additional recycle facilities with commissioning expected to begin late 3Q23; All CO2 recycle facilities to be expanded in 2024 Curtailed slightly more than 500 Bbl/d (1Q23 avg.) awaiting CO2 recycle facilities Expect 2023 exit rate of 2,000 Bbl/d incremental EOR production Denbury Inc. East Lookout Butte MONTANA NORTH DAKOTA CHSU lateral CCA CO2 Pipeline Location of first two CO2 recycle facilities Cedar Hills South Cedar Hills South first recycle facility and CO2 compressor 491 14

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