Chairmans Opening Remarks Joseph Wm. Foran, Founder, Chairman and CEO June 4, 2021
Unprecedented Challenges Throughout 2020: COVID-19 and Oil Prices - What a Difference A Year Makes 800 rigs MTDR reports Q1 2021 457 rigs 90 results, including 64 million FCF(1); 33.39 Increased concern declares 2nd dividend 80 Oil…
MTDR Relative Performance vs. XOP and Oil Since January 1, 2021 through June 3, 2021 close MTDR +177% MTDR XOP Oil MTDR Up Almost 2.8x in 2021 YTD XOP +65% Oil +42% 0% 5 Source: Bloomberg LP
MTDR Relative Performance vs. Peers (Since Saudi/Russia Price War) Since March 10, 2020 through June 3, 2021 close MTDR +1,285% MTDR 1 PERFORMER SM +1,230% OVV +928% CPE +860% PDCE +442% XEC +304% DVN +246% MRO…
MTDR Relative Performance vs. Peers (YTD 2021) Since January 1, 2021 through June 3, 2021 close MTDR 3 PERFORMER SM +287% CPE +257% MTDR +177% PDCE +126% OVV +113% MRO +107% DVN +97% XEC +91% FANG +79% XOP +65%…
MTDR Among Top Performers in Russell 2000 Energy and Russell 2000 Russell 2000 Energy (77 companies) year-to-date performance MTDR 4 Russell 2000 Index (2,034 companies) year-to-date performance MTDR in Top 1% Note: As of June 3,…
MTDR Relative Performance Since XOP High in July 2018 Since the XOP high in July 2018, there are only four E&P companies that have traded back above those levels, including MTDR Since that time, the XOP is down 46% and Oil is down…
Matador Enjoys a Premium Valuation Relative to Industry Peers Relative Valuations as of May 27, 2021 Relative Valuations as of April 16, 2020 10 Note: RBC Capital Markets estimates, FactSet and Company reports.
Matador Delivered Strong 2020 Results Despite Challenges ACCOMPLISHED ALL MAJOR OPERATIONAL TARGETS DESPITE REDUCING RIGS Matador turned to sales first production from Boros wells in Stateline asset area and Rodney Robinson wells in…
Consistent Growth in Proved Reserves per Share Matadors total proved reserves per share now at 2.3 BOE/share Since Matadors IPO, reserves have increased 10x, oil reserves increased 160x 2.50 100 2.3 BOE total proved reserves per share…
Midstream Business Continues to Grow: San Mateos Three-Pipe Offering Gas Gathering & Water Gathering & Oil Gathering & Processing Disposal Transportation 460 MMcf/d of designed natural gas 13 salt water disposal wells (SWDs) and…
Matadors Significant Officer % Ownership vs. Peer Group Interests Aligned with Shareholders Joseph Wm. Foran Matthew V. Hairford David E. Lancaster Craig N. Adams Billy E. Goodwin Founder, Chairman President and EVP and CFO EVP and…
Annual Meeting of Shareholders June 4, 2021
Board of Directors - Expertise and Stewardship Professional Matador Resources Company, Matador Petroleum Corporation, Foran Oil Company Experience J. Cleo Thompson, Jr., Lawyer Oil and Gas Exploration and Development Business…
Board of Directors - Expertise and Stewardship Executive Vice President / Engineering and Co-Founder, NP Resources, LLC Professional President and CEO, IPR Energy Partners, LLC Experience Former Vice President, Netherland, Sewell &…
Board of Directors - Expertise and Stewardship Professional Retired Partner (energy focus), PricewaterhouseCoopers (PwC) Experience Business Public Accounting - Longtime Service to Energy Sector Clients Expertise Accounting and…
Board of Directors - Expertise and Stewardship Retired Trustee of a private family trust in Houston, Texas Professional Former Vice President, Texon, L.P. Experience Former Vice President, Tripetrol Oil Trading, Inc. Finance and…
Shareholder Advisory Committee for Board Nominations Committee Member Professional Experience Rick H. Fenlaw - Owner, Fenlaw Land Services Co-Chair Scott E. King - Former VP, Geophysics and New Ventures, Matador Resources Company…
Recognition of Management Team June 4, 2021
Meet Our Newest Vice Presidents Jordan M. Ellington, VP of Drilling and Asset Manager Billy E. (Trey) Goodwin III, VP, Land Operations Kyle A. Perkins, VP and Assistant General Counsel, Regulatory and Operational Matters M.…
Other Important Items Nathan Milton of KPMG LLP, the Companys independent registered public accounting firm is in attendance today Mr. Milton is available to respond to any questions you may have To receive mail correspondence or…
Remembering Jim Rolfe Original Matador Shareholder, Board Advisor and Longtime Friend 24
Annual Meeting of Shareholders June 4, 2021
Lead Independent Directors Remarks Timothy E. Parker, Lead Independent Director Chair, Capital Markets and Finance Committee June 4, 2021
2020 Priorities Free Cash Flow, Balance Sheet Improvement and Operational Excellence Balance Sheet Improvements Five Significant 2020 Milestones - Timeline 1 Reducing Rig Count from 6 to 3 rigs 1 Rodney Robinson wells turned to sales…
2021 Priorities and Milestones Off to a Great Start 2021 Priorities Significant 2021 Milestones - Timeline 1 Deliver Free Cash Flow 1 4 Rodney Robinson wells to sales Operating four rigs in Delaware Basin 2 First 13 Voni (Stateline)…
An Integrated Strategy: Progress in All Areas Total Oil and Natural Gas Production(1) San Mateos Adjusted EBITDA(2) (MBOE) ( in millions) 2021E Total Production 11% Growth YoY 2021E Adjusted EBITDA 15% Growth YoY +11% YoY 130 Natural…
Matador Generating Free Cash Flow, Reducing Debt and Paying Dividends GENERATED 125 MILLION in Adjusted Free Cash Flow(1) in Q4 2020 and Q1 2021 REPAID 135 MILLION in borrowings outstanding in Q4 2020 and Q1 2021 PAID…
Committed to Environmental, Social and Governance (ESG) Stewardship (1) Assumes that each truck transporting one load of oil or water travels 15 miles per load. One load contains approximately 130 barrels of water or 190 barrels of…
Annual Meeting of Shareholders June 4, 2021
Summary of Proposals for Consideration at Annual Meeting Proposal 1 Election of Directors Proposal 2 Advisory Vote to Approve Named Executive Officer Compensation Proposal 3 Ratification of the Appointment of KPMG LLP The…
Introduction of Director Nominees R. Gaines Baty, Deputy Lead Independent Director Chair, Strategic Planning and Compensation and Nominating Committees June 4, 2021
Proposal 1 Election of Directors Director Nominees Class I Directors (Terms Expiring at 2024 Annual Meeting of Shareholders) Professional Retired Partner (energy focus), PricewaterhouseCoopers (PwC) Experience Business Public…
Proposal 1 Election of Directors Director Nominees Class I Directors (Terms Expiring at 2024 Annual Meeting of Shareholders) Professor of Law, Southern Methodist University Dedman School of Law Professional Former Associate Provost,…
Proposal 1 Election of Directors Director Nominee Class II Director (Term Expiring at 2022 Annual Meeting of Shareholders) Retired Trustee of a private family trust in Houston, Texas Professional Former Vice President, Texon, L.P.…
Proposal 2 Advisory Vote on 2020 Named Executive Officer Compensation The Company seeks a non-binding advisory vote from its shareholders regarding the 2020 compensation of its Named Executive Officers as described in the Proxy…
Ratification of Public Accounting Firm William M. Byerley, Director Chair, Audit Committee June 4, 2021
Proposal 3 Ratification of the Appointment of KPMG LLP KPMG LLP (KPMG) served as the Companys independent registered public accounting firm for the fiscal year ended December 31, 2020 The Audit Committee has appointed KPMG as the…
Summary of Proposals for Consideration at Annual Meeting Proposal 1 Election of Directors Proposal 2 Advisory Vote to Approve Named Executive Officer Compensation Proposal 3 Ratification of the Appointment of KPMG LLP The…
Annual Meeting of Shareholders June 4, 2021
Operations/Financial Update and 2021 Plans Matthew V. Hairford, President David E. Lancaster, EVP and CFO June 4, 2021
Matador Resources Company Overview Market Snapshot NYSE Symbol MTDR Market Capitalization(1) 3.9 billion Avg. Daily Production Q2 2021E(2) 89.0 MBOE/d DELAWARE BASIN HAYNESVILLE/ Net Debt / LTM Adj. EBITDA(3)(4) Q2 2021E 2.0x…
Strong Results for First Quarter 2021 Q1 2021 PRODUCTION BETTER THAN EXPECTED AT 74,000 BOE per day Q2 2021 expected to be up about 20% higher RECORD OIL AND NATURAL GAS REVENUES OF 316 MILLION Realized oil and natural gas prices of…
Delivering Strong Well Results All Around the Delaware Basin TWIN LAKES Matador Acreage 40,500 gross / 23,200 net acres RUNNING FOUR RIGS IN THE DELAWARE BASIN Stateline: Two rigs recently finished drilling ARROWHEAD 66,000 gross…
A Step Change in Capital Efficiency: Record Low Costs in 2020 Even Lower in 2021E Drilling & Completion (D&C) CapEx/ft(1) Percentage of Two-Mile Laterals (/ft) 1,528 98% -24% 74% 1,165 TOTAL -27% FOOTAGE TOTAL 850 -14% FOOTAGE…
Delaware Basin Success Driven By Technology Improvements Drilling Advancements and New Technology Anticipated Savings from Simul-Frac (Completion Cost Savings, ) POTENTIAL Reduction in drilling time(1) on recent Stateline Wolfcamp B…
Stateline Asset Area Eddy County, New Mexico Stateline Asset Area 49
Stateline Asset Area Eddy County, New Mexico Voni Wells (2.3 mile laterals) 2nd Bone Spring & Wolfcamp A STATELINE 123H 24-hr IP: 3,177 BOE/d (68% oil) 2,800 gross / 2,800 net acres 124H 24-hr IP: 3,084 BOE/d (70% oil) 204H 24-hr…
San Mateo(1) Assets and Operations Three-Pipe Offering Eddy County, NM Assets Loving County, TX Assets 1 Mile Greater Stebbins Area Wolf Loving 43 miles Natural Gas and Oil Pipelines IN SERVICE Reeves Loving Ward 1…
San Mateo Operations and Facilities Update Natural Gas 200 MMcf/d Cryo Plant addition In service Belleau Wood pipeline (Stebbins) In service Tripoli pipeline (Stateline) In service 2 additional low pressure compressors added in Q1…
San Mateo Operations and Facilities Update Water Stebbins SWDs operational In service Stateline gathering system operational In service Off-loading water to third-party commercial SWD systems Faulk SWD (Northern Rustler…
San Mateo Differentiated Midstream Asset Continues to Add Value to Matador(1) 2015-2016 2017-2018 2019-2020 2021+ Initial midstream build-out San Mateo I formed in San Mateo II formed in Free cash flow generation in the Delaware Basin…
2021 Capital Investment Plan Summary(1) Full Year 2021E CapEx(2) 545 to 605 million (Delaware: Added 4th operated rig in late March 2021) 2021E Wells Turned to Sales CapEx Guidance Range Gross Net Drilling, Completing, Equipping 525…
2021 Oil and Natural Gas Production Estimates(1) Total Oil and Natural Gas Production 11% 2021E CapEx(1)(2) (Midpoint): Natural Gas, Bcf D/C/E: 550 MM Oil, MBbl 30,450 Midstream(3): 25 MM 2021E Oil Production 10% Growth YoY Total: 575…
Making Steady Progress on Paying Down Debt ( in millions) Borrowing Base Elected Commitment Have already repaid an additional 30 million thus far in Q2 2021 Net Debt/ LTM Adj. EBITDA(1)(2): 2.8x 2.9x 2.5x 2.0x…
Investment Highlights Matador Resources Company Positioned for Continued Free Cash Flow and Differentiated Growth Generated adjusted free cash flow(1) of 63.9 million in Q1 2021 and grew total production by 14% year-over-year in 2020…
Matador Resources 2021 Best Overall Investor Relations (Small Cap) Nasdaq MarketSite Tower in Times Square 59
Annual Meeting of Shareholders June 4, 2021
Appendix June 4, 2021
Adjusted EBITDA & Adjusted Free Cash Flow Reconciliations Adjusted EBITDA Reconciliation This presentation includes the non-GAAP financial measure of Adjusted EBITDA. Adjusted EBITDA is a supplemental non-GAAP financial measure that is…
Adjusted EBITDA Reconciliation Matador Resources Company The following table presents the calculation of Adjusted EBITDA and the reconciliation of Adjusted EBITDA to the GAAP financial measures of net income (loss) and net cash provided…
Adjusted EBITDA Reconciliation San Mateo(1) The following table presents the calculation of Adjusted EBITDA and the reconciliation of Adjusted EBITDA to the GAAP financial measures of net income (loss) and net cash provided by (used in)…
Adjusted EBITDA Reconciliation San Mateo(1) (100%) The following table presents the calculation of Adjusted EBITDA and the reconciliation of Adjusted EBITDA to the GAAP financial measures of net income (loss) and net cash provided by…
Adjusted Free Cash Flow Reconciliation Matador Resources Company The following table presents the calculation of adjusted free cash flow and the reconciliation of adjusted free cash flow to the GAAP financial measure of net cash…
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