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Linn Energy LLC
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Commodity Hedge Position Update
| Mark E. Ellis | Page 3 of 11 |
June 09, 2026
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"Commodity Hedge Position Update "
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Significant Hedge Position Natural Gas Positions Oil Positions h LINN is hedged ~100% on expected natural gas production through 2015; and ~100% on expected oil production through 2013 and ~80% in 2014 and 2015 35,000 325 $5 54 h Puts provide upside on hedged volumes h Puts and collars provide upside on hedged volumes Gas $95 39 $98.25 $75.00 $100.00 $100.00 20,000 25,000 30,000 20% 21% $85.70 $98.25 $95.39 $98.44 $97.93 $5.75 $5.83 $5.85 $5.00 $5.00 175 200 225 250 275 300 . $5.49 $5.75 $5.84 $8.24 37% 29% 40% 28% (Bbls/d) ( MMcf/d) $90.23 $97.37 $98.05 .39 $90.00 5,000 10,000 15,000 30% $9.50 $5.85 $5.69 $5.69 $7.01 25 50 75 100 125 150 51% Volumes Volumes ( - 2011 2012 2013 2014 2015 - 2011 2012 2013 2014 2015 Percent Puts (2)Swaps (3) Collars (4) Puts Percent Puts (2)Swaps Puts (1) Note: Includes full-year 2011-2015 hedge positions as of December 19, 2011. (1) Natural gas positions include puts which settle on the Panhandle Eastern Pipeline Index (PEPL) to hedge basis differential associated with natural gas production in the Mid-Continent. (2) Calculated as percentage of hedged volume in the form of puts. (3) The Company has certain outstanding fixed price oil swaps on 14,750 Bbls of daily production which may be extended annually at a price of $100.00 per Bbl for each of 2016, 2017 and 2018 if the counterparties determine that the strike prices are in-the-money on a designated date in each respective preceding year. The extension for each year is exercisable without respect to the other years. (4) Includes collars with floor / ceiling prices of $90.00 / $112.25 on 276 MBbls of oil for FY 2011. 3