Matador Resources — Feb 18, 2025 release

Dividend Increase “First, I am pleased to announce that Matador’s Board of Directors (the ‘Board’) has approved a 25% increase in Matador’s dividend policy, raising the dividend from $1.00 annually, or $0.25 per quarter, to $1.25 annually, or $0.3125 per quarter (see Slide A ). In accordance with this new dividend policy, the Board formally declared a quarterly cash dividend of $0.3125 per share of common stock payable on March 14, 2025 to shareholders of record as of February 28, 2025. Matador believes that a steadily increasing fixed dividend is the best way to comfortably return cash to its shareholders while also continuing to build value through growing our upstream and midstream businesses. Matador has now raised its dividend six times in four years. “Raising the dividend—and senior management buying the stock, of which there are 30 ‘buys’ since 2021 and no ‘sells’—is the sincerest way we know to express our confidence in the operational and financial outlook for Matador going forward (see Slide A and Slide T ). The Board and I would now like to point out some accomplishments that support this dividend increase. These accomplishments include the successful integration of the Advance and Ameredev acquisitions, which are performing as well or better than Matador expected; the addition of 50,000 net acres to our inventory; and the combination of Pronto Midstream, LLC (‘Pronto’) with San Mateo Midstream, LLC (‘San Mateo’) in December 20