Slide 1: First Quarter 2025 Table of Contents: Investor Relations
First Quarter 2025 Table of Contents: Investor Relations Consolidated Statements of Income 2 200 East Hardin Street Consolidated Statements of Comprehensive Income 3 Findlay, OH 45840 Consolidated Balance Sheets 4 IR@marathonpetroleum.com Consolidated Statements of Cash Flows 5 419/421-2071 Financia
Slide 2: Consolidated Statements of Income
CONSOLIDATED STATEMENTS OF INCOME MPLX LP Year 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year 1st Qtr (In millions, except per unit data) 2023 2024 2024 2024 2024 2024 2025 Revenues and other income: 1 Service revenue $ 2,539 $ 658 $ 683 $ 709 $ 720 $ 2,770 $ 707 2 Service revenue - related parties 3,985 986
Slide 3: Consolidated Statements of Comprehensive Income
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME MPLX LP Year 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year 1st Qtr (In millions) 2023 2024 2024 2024 2024 2024 2025 1 Net income $ 3,966 $ 1,015 $ 1,186 $ 1,047 $ 1,109 $ 4,357 $ 1,136 Other comprehensive income, net of tax: Remeasurement of pension and other p
Slide 4: Consolidated Balance Sheets
CONSOLIDATED BALANCE SHEETS MPLX LP (In millions, except ratio data) December 31, 2023 December 31, 2024 March 31, 2025 Assets 1 Cash and cash equivalents $ 1,048 $ 1,519 $ 2,534 2 Receivables, net 823 718 858 3 Current assets - related parties 748 830 910 4 Inventories 159 180 186 5 Other current a
Slide 5: Consolidated Statements of Cash Flows (YTD)
CONSOLIDATED STATEMENTS OF CASH FLOWS (YTD) MPLX LP Dec. 31 Mar. 31 Jun. 30 Sep. 30 Dec. 31 Mar. 31 (In millions) 2023 2024 2024 2024 2024 2025 Operating activities: 1 Net income $ 3,966 $ 1,015 $ 2,201 $ 3,248 $ 4,357 $ 1,136 Adjustments to reconcile net income to net cash provided by operating act
Slide 6: Financial Statistics
FINANCIAL STATISTICS MPLX LP Year 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year 1st Qtr (In millions, except ratio and per unit data) 2023 2024 2024 2024 2024 2024 2025 Common unit distributions: 1 Common units (LP) - public $ 1,152 $ 314 $ 317 $ 355 $ 353 $ 1,339 $ 357 2 Common units - MPC 2,104 550 551 619
Slide 7: Crude Oil and Products Logistics Selected Operating Data
Crude Oil and Products Logistics Selected Operating Data MPLX LP Crude Oil and Products Logistics Year 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year 1st Qtr 2023 2024 2024 2024 2024 2024 2025 Pipeline throughput (mbpd): 1 Crude oil pipelines 3,772 3,462 3,950 3,895 3,831 3,785 3,908 2 Product pipelines 2,040
Slide 8: Natural Gas and NGL Services Selected Operating Data
Natural Gas and NGL Services Selected Operating Data MPLX LP Natural Gas and NGL Services (Consolidated entities plus Partnership- Year 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year 1st Qtr Operated Equity Method Investments) 2023 2024 2024 2024 2024 2024 2025 Gathering throughput (mmcf/d) 1 Marcellus Operat
Slide 9: Reconciliation of Segment Adjusted EBITDA to Income from Operations and Net Income
Reconciliation of Segment Adjusted EBITDA attributable to MPLX LP to Income from Operations and Net Income MPLX LP Year 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year 1st Qtr (In millions) 2023 2024 2024 2024 2024 2024 2025 Crude Oil and Products Logistics 1 Segment adjusted EBITDA $ 4,134 $ 1,059 $ 1,099 $ 1
Slide 10: Reconciliation of Adjusted EBITDA and DCF from Net Income
Reconciliation of Adjusted EBITDA attributable to MPLX LP and Distributable Cash Flow attributable to LP Unitholders from Net Income MPLX LP Year 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year 1st Qtr (In millions) 2023 2024 2024 2024 2024 2024 2025 1 Net income $ 3,966 $ 1,015 $ 1,186 $ 1,047 $ 1,109 $ 4,357
Slide 11: Reconciliation of Adjusted EBITDA and DCF from Net Cash Provided by Operating Activities
Reconciliation of Adjusted EBITDA attributable to MPLX LP and Distributable Cash Flow attributable to LP Unitholders from Net Cash Provided by Operating Activities (YTD) MPLX LP Dec. 31 Mar. 31 Jun. 30 Sep. 30 Dec. 31 Mar. 31 (In millions) 2023 2024 2024 2024 2024 2025 1 Net cash provided by operati
Slide 12: Reconciliation of Operating Cash Flow to Adjusted Free Cash Flow
Reconciliation of Net Cash Provided by Operating Activities to Adjusted Free Cash Flow and Adjusted Free Cash Flow after Distributions MPLX LP Year 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year 1st Qtr (In millions) 2023 2024 2024 2024 2024 2024 2025 1 Net cash provided by operating activities $ 5,397 $ 1,29
Slide 13: Capital Expenditures
Capital Expenditures MPLX LP Year 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year 1st Qtr (In millions) 2023 2024 2024 2024 2024 2024 2025 Capital Expenditures: 1 Growth capital expenditures $ 838 $ 165 $ 156 $ 248 $ 227 $ 796 $ 220 2 Growth capital reimbursements (165) (21) (29) (14) (51) (115) (27) (1) 3 Inv