PRESS RELEASE

Matador Resources Company (NYSE: MTDR) (“Matador” or the “Company”) today announced that Matador and its lenders successfully amended the Company’s credit agreement to, among other things, (1) increase the elected commitment from $1.325 billion to $1.5 billion, (2) increase the maximum facility amount from $2.0 billion to $3.5 billion and (3) extend the maturity date by three years to 2029. Matador is also pleased to announce that five new banks joined the credit facility, bringing the total bank group to 19 banks. These new banks are Capital One, N.A., Citizens Bank, N.A., Mizuho Bank, Ltd., The Toronto-Dominion Bank, New York Branch, and Wells Fargo Bank, N.A.

Joseph Wm. Foran, Matador’s Founder, Chairman and CEO, commented, “On behalf of the Board and the management team, we thank each of our banks for their continued support. We also welcome the five new banks to our high-quality bank group, which is led by PNC Bank, N.A., as administrative agent. Matador remains committed to maintaining a strong balance sheet, growing our production and maintaining our optionality and capital discipline while decreasing costs.”

Completion of Natural Gas Pipeline Connections

Matador also announced today the successful completion of natural gas pipeline connections between Pronto Midstream and San Mateo and between Pronto Midstream and Matador’s acreage obtained in the Advance acquisition. These connector pipelines will provide further flow assurance and options for Matador and third-party customer natural gas volumes and should contribute to the resolution of the temporary midstream third-party maintenance issues experienced in the first quarter of 2024.

“As anticipated during our fourth quarter and year end 2023 earnings call, we are pleased to announce the successful completion of these pipeline projects, which further strengthen our midstream infrastructure, enhance our upstream operations and support our growth objectives in the northern Delaware Basin,” said Mr. Foran. “Both pipeline additions, which include over 20 miles of natural gas pipeline, will enable Matador to more effectively gather and transport natural gas production from the 21 Dagger Lake South wells, which are expected to be turned-to-sales in the second quarter of 2024. The natural gas pipeline connection between Pronto Midstream and San Mateo can flow natural gas in either direction to optimize market conditions. These natural gas pipeline connections will assist in the execution of our strategic priorities for our production, including record Matador production in 2024, as our guidance has indicated.”