1Q23 Earnings and Operations Update

Rocky Mountains - An Emerging CCUS Opportunity • Acquired initial CO2 sequestration ● • site (Corvus) in Wyoming for future storage - 15,000-acre site located directly under - Denbury Greencore CO2 pipeline Estimated potential CO2 storage capacity of 40 million metric tons Nearby emissions primarily from power generation - 9 Mmtpa existing with multiple proposed greenfield projects - DEN signed agreement for Wyoming hydrogen newbuild w/ up to 1 Mmtpa CO2 Future potential CO2 sources include SW Wyoming and Casper Denbury CO2 pipelines Other CO2 pipelines Stationary CO2 emissions Secured sequestration site NE Wyoming ~9 Mmtpa existing from 10 sources ND MT WY Power Gen Petroleum / Natural Gas Corvus site SW Wyoming ~17 Mmtpa existing from 14 sources Power Gen Mining / Mineral Production Chemicals Fertilizer Casper ~6 Mmtpa existing from 6 sources Power Gen Petroleum / Natural Gas Denbury Inc. Source: 2021 EPA Greenhouse Gas Reporting Program data 21

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