Matador Resources — May 6, 2026 release

Notably, Matador is increasing its full-year 2026 production guidance ranges without changing its 2026 capital expenditure guidance, reflecting Matador’s improving capital efficiency. Matador now expects to achieve in 2026 a 3.5% increase in oil production, 11% total D/C/E and midstream CapEx reduction and a similar amount of net lateral footage turned to sales of ~1.25 million net lateral feet, as compared to 2025. Guidance Metric Prior Full-Year 2026 Guidance Range New Full-Year 2026 Guidance Range Oil Production, Bbl per day 122,000 to 124,000 123,000 to 125,000 Natural Gas Production, MMcf per day 525.0 to 545.0 No Change Total Oil Equivalent Production, BOE per day 209,500 to 215,000 210,500 to 216,000 Total operating expenses per BOE (1) $30.00 to $31.00 $31.00 to $33.00 Current income taxes (% of pretax income) 0% to 0.5% 0% to 1% D/C/E CapEx (2) $1.35 to $1.44 billion No Change Midstream CapEx (3) $100 to $110 million No Change Total CapEx $1.45 to $1.55 billion No Change (1) Includes estimated non-cash operating expenses in 2026 of $15.50 to $15.80 per BOE for DD&A and $0.20 to $0.30 per BOE for non-cash G&A expenses, respectively. (2) Capital expenditures associated with drilling, completing and equipping wells. (3) Includes Matador’s share of estimated capital expenditures for San Mateo and other wholly-owned midstream projects. Operational and Financial Update First Quarter 2026 Oil, Natural Gas and Total BOE Production As summarized in the table below, Matador’s total BOE production averaged 207,594 BOE per day in the first quarter of 2026, which was a 5% ye