Matador Technologies — Capital/Financing Update 2026

Feb 4, 2026

KR

KINGSTON ROSS PASNAK LLP

CHARTERED PROFESSIONAL ACCOUNTANTS

Suite 1500, 9888 Jasper Avenue NW

Edmonton, Alberta T5J 5C6

T. 780.424.3000 | F. 780.429.4817 | W. krpgroup.com

February 3, 2026

TO: Ontario Securities Commission
Alberta Securities Commission
British Columbia Securities Commission
Financial and Consumer Affairs Authority of Saskatchewan
The Manitoba Securities Commission
New Brunswick Securities Commission
Nova Scotia Securities Commission
Prince Edward Island Office of the Superintendent of Securities Office
Newfoundland and Labrador Securities Commission
Autorité des marchés financiers
The Office of the Superintendent of Securities, Northwest Territories
Office of the Yukon Superintendent of Securities
Department of Justice, Government of Nunavut

RE: Matador Technologies Inc.

Prospectus Supplement dated February 3, 2026 to Short Form Base Shelf Prospectus dated January 28, 2026 (the "Prospectus Supplement")

New Issue: Up to $30,000,000 of common shares

We refer to the Prospectus Supplement of Matador Technologies Inc. (the "Corporation") relating to the issue sale of up to $30,000,000 common shares (the "Common Shares").

We consent to being named in the Prospectus Supplement of the Corporation, and to the use through incorporation by reference in the Prospectus Supplement, of our report dated February 26, 2025 addressed to the shareholders of the Corporation on the following financial statements:

• Consolidated statements of financial position as at October 31, 2024 and October 31, 2023;
• Consolidated statements of operations and comprehensive loss, cash flows, and changes in equity for the years ended October 31, 2024 and October 31, 2023, and
• Notes to the consolidated financial statements, including a summary of significant accounting policies and other explanatory information.

We report that we have read the Prospectus Supplement, and all information specifically incorporated by reference therein, and have no reason to believe that there are any misrepresentations in the information contained therein that are derived from the consolidated financial statements upon which we have reported,

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or that are within our knowledge as a result of our audit of such financial statements. We have complied with Canadian generally accepted standards for an auditor's consent to the use of a report of the auditor included in an offering document, which does not constitute an audit or review of the prospectus as these terms are described in the CPA Canada Handbook – Assurance.

Yours truly,

Kingston Ross Pasnak LLP

Kingston Ross Pasnak LLP
Chartered Professional Accountants
Edmonton, Alberta
February 3, 2026