Investor Presentaiton

Natural Gas Liquids Marketing Overview Chaves Matador Acreage Black River Processing Plant EPIC Y-Grade Pipeline NGLS sold to BP at tailgate of San Mateo's Black River Processing Plant Eddy Led EPIC Y-Grade Line Orla Loving Winkler Culberson ☐ " ☐ Completed NGL connection at the Black River Processing Plant on EPIC's Y-Grade pipeline in March 2018 BP Energy Company has continued to buy NGLs at tailgate of the Black River Processing Plant Processing plant operations improved by eliminating need for NGL trucking - Potential trucking disruptions: ice storms, road construction, trucking strikes, availability of trucks Pipeline allows producers the option to go into full recovery of ethane ■ NGL transportation via pipeline improves Matador's realized pricing (netback) - Long-term firm market transport at attractive rates Ability to handle expanded designed inlet. capacity of 460 MMcf/d during ethane recovery Reeves Note: All acreage as of June 30, 2020. Some tracts not shown on map. Matador 50 RESOURCES COMPANY

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