Mr. Donato Sferra reports

MATADOR TECHNOLOGIES ANNOUNCES MANAGEMENT TRANSITION

Matador Technologies Inc. has appointed Donato Sferra as chief executive officer and has appointed Deven Soni as executive chairman, in each case effective July 16, 2026.

Executive leadership transition

Mr. Sferra, a co-founder of Matador and a member of the board of directors since the company's inception, assumes the role of chief executive officer with responsibility for the company's strategy, operations and capital market execution. Mr. Sferra brings more than two decades of capital markets, mergers and acquisitions, and corporate finance experience, including as founder and managing partner of Hillcrest Merchant Partners Inc., a Toronto-based merchant bank, and in prior senior roles in institutional finance. He will continue to serve as a director of the company.

Mr. Soni, who has served as chief executive officer and chairman since the company's inception, transitions to the role of executive chairman of the board of directors, and will continue to provide strategic guidance on corporate strategy, capital market positioning and investor relations. The board thanks Mr. Soni for his leadership as chief executive officer, during which the company established its bitcoin treasury strategy, completed its base shelf prospectus and at-the-market program, and built its capital market platform.

Mr. Soni, executive chairman of Matador, commented: "Donato has been central to Matador's strategy since day one, and his capital markets depth makes him the right leader for the company's next phase. This transition puts our executive structure in line with where the business is going, and I look forward to supporting Donato and the team as executive chairman."

Mr. Sferra, chief executive officer of Matador, added: "Matador has built a disciplined, repeatable model: raise capital efficiently, accumulate bitcoin strategically and put those holdings to productive use. My focus as chief executive officer is to scale that model, deepen our capital markets reach and continue driving bitcoin per share for our shareholders."

Governance and regulatory matters

The appointments and the related consulting arrangements were approved by the board of directors. Mr. Sferra's services as chief executive officer are provided pursuant to a consulting service agreement among the company, Hillcrest and Mr. Sferra, which constitutes the entire service relationship between the company and Hillcrest. All required notices and filings are being made with the TSX Venture Exchange, and a material change report will be filed on SEDAR+.

About Matador Technologies Inc.

Matador is a publicly traded bitcoin ecosystem company focused on holding bitcoin as its primary treasury asset and building products to enhance the bitcoin network. Matador's strategy combines strategic bitcoin accumulation, bitcoin-native product development and digital asset treasury management, with active participation across blockchain and digital asset infrastructure, all with a focus on driving long-term shareholder value while maintaining capital efficiency.

Matador has recently proposed to expand its global footprint by entering into an agreement to invest in Hodl Systems, one of India's first digital asset treasury companies, securing an up-to-24-per-cent ownership stake. This investment strengthens Matador's position as a leading bitcoin treasury company and underscores its commitment to the worldwide adoption of bitcoin as a reserve asset.

With a bitcoin-first strategy and a clear focus on innovation, Matador is shaping the future of financial infrastructure on bitcoin.

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