Matador Resources — Feb 18, 2025 release

This producer mindset has been recognized by San Mateo’s third-party customers as many of these producers are repeat customers and continue to expand their relationship with San Mateo. San Mateo expects to achieve Adjusted EBITDA of $285 million in 2025, which is an increase of 13% as compared to Adjusted EBITDA of $253.2 million in 2024. “From an initial start in February 2017, San Mateo has grown to operate approximately 590 miles of oil, natural gas and water pipelines, 520 million cubic feet per day of designed natural gas processing capacity and 16 saltwater disposal wells with approximately 475,000 barrels per day of designed produced water disposal capacity. San Mateo anticipates its processing capacity will increase to 720 million cubic feet per day with the completion of the Marlan Plant expansion early in the second quarter of 2025. Closing Thoughts “While each year brings its own challenges, we like our chances and opportunities going forward. In fact, members of Matador’s senior management have made 30 separate purchases of Matador stock since 2021, and none of Matador’s senior management group have ever sold a single Matador share (see Slide T ). Perhaps even more meaningful as an expression of confidence is the fact that Matador has over 95% participation (including field personnel) in its Employee Stock Purchase Plan (‘ESPP’). We also look forward to discussing these results and opportunities and answering