Matador Resources — Apr 4, 2025 release

New Oil Hedges “In light of prior experience in turbulent times, Matador entered into additional oil hedges during the first quarter of 2025. A summary of our oil costless collars is provided in the following table: Oil Costless Collars Volume Hedged (Bbl per day) Weighted Average Price Floor ($/Bbl) Weighted Average Price Ceiling ($/Bbl) H1 2025 45,000 $60 $86 H2 2025 70,000 $52 $77 Precautionary Actions for Turbulent Times “Matador has taken other precautionary actions in preparation for these turbulent times. From experience, we believed it was prudent to fortify Matador’s balance sheet by entering into additional hedges and selling non-core assets as discussed above. Matador also structured its rig contracts with optionality to quickly decrease or increase its drilling program based upon market conditions. Furthermore, Matador expects steel prices for goods such as casing, valves and surface equipment will increase in 2025 due to recent tariffs. To protect its financial position, Matador has already secured inventory for the majority of its 2025 drilling program. Matador does not expect any recent tariffs to impact its well costs until the 1 second half of 2025. These precautionary actions taken by Matador have helped minimize the impact of recent volatility in commodity prices on its operations. Opportunities Ahead “Over the past 40 years, during volatile times like the one that we are currently experiencing, Matador or its predecessors have made some of their most significant acquisitions, drilled some of their most profita