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22 year-old Matterson expressed his delight at extending his contract with the Foundation Club, which comes just a week after he helped secure the Roosters maiden Auckland Nines title.
"I'm really proud to be a Rooster. Since day one, everyone at the Club has made me feel at home, and this is where I want to build a career," said Matterson.
"I know that there's still a lot of improvement in me, and I'm looking forward to continuing to learn from Robbo and the coaches, and hopefully secure my opportunity to play some good football for the Club," he added.
Roosters Head Coach, Trent Robinson, was also pleased to have Matterson locked in to the Club's long-term plans.
"Ryan's energy and enthusiasm is contagious, and with his great work ethic, I have no doubt that he will only continue to grow over the coming seasons," said Robinson.
"Away from football, Ryan is also a terrific person, so it's great news for the Roosters to have secured his services for another couple of years," he added.
Matterson made an impressive NRL debut in Round 8 of the 2016 season, with two try assists and one try of his own. He completed the season with 15 games under his belt and made his representative debut with the City Origin side.
The new agreement falls in line with the Club's commitment to developing its youth and comes at an exciting time for the Roosters, with the Club also securing contract extensions with players including Jared Waerea-Hargreaves, Dylan Napa, Sio Siua Taukeiaho, Joseph Manu and Connor Watson in the recent months.