1Q23 Earnings and Operations Update

DENBURY - A Unique Carbon Solutions Company Strategic Focus Leading in Carbon Capture, Utilization and Storage, including Enhanced Oil Recovery 20+ years Experience Managing CO2 Safely transporting, injecting and monitoring large-scale volumes of CO2 1300+ miles of CO2 Pipelines Largest owned and operated CO2 pipeline network in the United States Scope 3 Net Zero by 2030 Through increasing use of captured industrial-sourced CO2 Financial Strength and Flexibility Disciplined capital allocation, ability to organically fund growth Rocky Mountain Region ND MT Gulf Coast Region WY Market capitalization: $4.5 Bn AT A GLANCE YE22 Oil & gas proved reserves: 202 MMBOE 2023E Sales volumes: 46 - 49 MBOE/d 2022 Total CO2 sourced: 14 million metric tons; ~30% industrial 2022 Scope 1, 2 emissions: Net negative 2.5 million metric tons (1) Scope 3 refers to Scope 3 Category 11 (Use of Sold Products) Denbury Inc. TX LA Denbury CO2 pipelines CO2 pipelines owned by others Natural CO2 source Industrial CO2 source Denbury EOR oil fields Denbury - non-EOR oil fields Secured CO2 sequestration sites MS AL 3

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