Denbury Credit Agreement

As set out in the plan, all debt, equity, agreements, instruments, certificates and other documents proving a claim against or against the company`s interest have been cancelled on the effective date and the company`s obligations contained or related to it in any way have been released. Securities to be terminated on the reference date include all Link 2 bonds, convertible bonds, subordinated bonds and existing holdings. For more information, please refer to the explanatory note and points 1.02 and 5.03 of this report, which are included as a reference. As part of their appointment, Mr. Peterson, Mr. Meyers, Mr. Abate, Mr. Chapman, Ms. Angoorly and Mr. Wiggs each entered into a compensation agreement with the company, providing for compensation and the evolution of litigation and other costs to the extent permitted by law for claims related to their service to the company or its subsidiaries.

This on the effective date, According to the terms of the plan, Denbury, as a borrower, the lender party (the «lender»), and JPMorgan Chase Bank, N.A., as a management agent, swingline lender and the letter of the credit issuer (the «agent») entered into a reserve-based revolving credit agreement (the «Exit Credit Facility») with aggregate commitments of $575.0 million. The initial credit base is $575.0 million until the next redefinition. The credit base is redefined twice a year, on May 1 and November 1 each year, with a temporary redefinition of the «wildcard» between the new provisions. The next planned redefinition will take place on May 1, 2021 or around May 1, 2021. Initial availability under the Exit Credit Mechanism is $435 million on the effective date, before all remaining letters of credit take effect on that date. In accordance with the plan, all agreements, instruments and other documents relating to any of Legacy Denbury`s outstanding holdings prior to the effective date have been reported and all of these holdings will no longer have any force or effect after the effective date.