1Q23 Earnings and Operations Update

Commodity Hedge Position - as of May 3, 2023 NYMEX Oil Hedges 2023 2024 1H 2H 1 H 2H Fixed-Price Swaps Volumes Hedged (Bbls/d) 9,500 18,000 5,000 1,000 Swap Price (1) $76.65 $78.51 $75.34 $75.12 Collars Volumes Hedged (Bbls/d) 17,500 9,000 Floor Price (1) $69.71 $68.33 Ceiling Price (¹) $100.42 $100.69 Total Volumes Hedged 27,000 27,000 5,000 1,000 (1) Averages are volume weighted Denbury Inc. 39

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