1Q23 Earnings and Operations Update

NYMEX Oil Differential Summary $ per barrel Gulf Coast region Rocky Mountain region 1Q23 4Q22 3Q22 2Q22 1Q22 2022 2021 2020 $(1.29) $(0.40) $0.66 $0.16 $(1.37) $(0.19) $(1.42) $(1.14) $(1.28) 0.56 1.02 0.01 (1.38) (0.02) (1.32) (2.80) Total Company NYMEX Oil Differential $(1.28) $0.03 $0.82 $0.09 $(1.37) $(0.10) $(1.38) $(1.81) Average realized oil price per barrel $74.87 $82.54 $92.77 $108.81 $93.17 $94.29 $66.52 $37.78 (excl. derivative settlements) Average realized oil price per barrel (incl. derivative settlements) $75.36 $73.13 $79.49 $77.63 $70.43 $75.19 $50.46 $43.40 Denbury Inc. 41

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