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Initial Capital Call Notice

Payment Due: Monday, December 30, 2019

To: The limited partners of AG Energy Credit Opportunities Fund IV, L.P.

Date: December 20, 2019

Account: Paul J Reilly

We wish to advise you that a capital call of 10.50% of your total capital commitment to AG Energy Credit Opportunities Fund IV, L.P.
is due on Monday, December 30, 2019.

Proceeds from this initial capital call will be primarily used to repay credit facility borrowings associated with the fund’s first
investment in a directly originated term loan for Abraxas Petroleum. Further details for this new investment will be provided
in the 4Q 2019 investor letter.

The specific amount due from you is indicated below:

Amount
Name of Partner Total Commitment Total Paid To Date Now Due
Paul J Reilly $250,000 $0 $26,250

Please note that UBS has advised that your UBS Financial Services account will be debited for your capital call amount on
the due date.

Please make sure you have sufficient available funds in your UBS Financial Services account on the day before the capital
call notice due date.

With this contribution, you will have contributed a total of approximately 10.5% of your total capital commitment.

If you have any questions about this capital call notice, please contact your UBS Financial Advisor.

Sincerely,
Angelo, Gordon ECO Fund IV GP, LLC
General Partner

By: Angelo, Gordon & Co., L.P.

Manager

By: Michael L. Gordon

Title: Chief Executive Officer and Co-Chief Investment Officer