Mplx Lp · NYSE:MPLX
Mplx Lp — Investor Day (December 2018)
94 slides from Mplx Lp's investor day presentation, Dec 4, 2018
Slide 1: Investor Day December 4, 2018
MARATHON © Investor Day December 4, 2018
Slide 2: Welcome & Introductions
02 04 Welcome & Introductions Kristina Kazarian VP, Investor Relations Strategic Overview Gary Heminger Chairman and Chief Executive Officer Business Environment Greg Goff Executive Vice Chairman Refining Don Templin, President, Refining, Marketing and Supply Ray Brooks, EVP, Refining 06 08 Midstrea
Slide 3: Forward-Looking Statements
Forward-Looking Statements ‘This presentation contains forward-looking statements within the meaning of federal secures laws regarcing Marathon Petroleum Corporation (MPC), MPLX LP (MPLX) and Aideavor Logistic LP (ANDX. These forware-ooking Statemens rate Lo, among other things, MPC's acquistion of
Slide 4: Forward-Looking Statements (continued)
Forward-Looking Statements (continued) Factors that couls cause ANDXS actual esl oir material from those imped in he forwardooking statements include: the amount and ming of fre astributions; ou ably to achieve expecte coverage improvement and Aistribable cash growth; our ality to execute a funcng m
Slide 5: Strategic Overview
Slide 6: Creating a Leading Energy Company
Creating a Leading Energy Company Broader commercial opportunities Expanded platform A premier for growth energy company Two great | Enhanced scale legacies and integration 6
Slide 7: Two Great Legacies: Combine For Competitive Strength
Two Great Legacies: Combine For Competitive Strength * Similar histories of strategic development = Comparable focus on integration to enhance value capture 0 . $ = History of successful ” w transformation me roc ten — ot $e v ie = Dual track records of sao TESORO tr” ‘rn a creating shareholder valu
Slide 8: Top Investor Questions
Top Investor Questions Strategic vision for the combined company Benefits of scale and integration across platform Synergy update Capital allocation: investment & return policies New segment and reporting information IMO: outlook & sensitivities
Slide 9: Built For Change: Our Strategic Vision
Built For Change: Our Strategic Vision ez ® Core Values and Integrated f Strategic & Business Model Disciplined Excellence Financial Strength Operational Investments ik we Core values underpin . Enhances value “1 Creates competitive our commitment to capture and ability to am advantages people, safe
Slide 10: Core Values: Underpin What We Do Every Day
Core Values: Underpin What We Do Every Day Attracting, developing, and retaining exceptional people Company-wide alignment on strategic direction Powerful collaboration Operational excellence
Slide 11: Responsible Corporate Leadership
Responsible Corporate Leadership MPC has earned 75h of the EPA's Energy Star earned Gar state i ‘ Facilities earned recognitions awarded to | environmental agencies : refineries OSHA's highest status 1,352 acres certified wildlife habitats consisting of y y =) 13 4 18 we roa Safety Performance 208 $
Slide 12: Leveraging a Larger System: Unprecedented Opportunities
Leveraging a Larger System: Unprecedented Opportunities Feedstock Acquisition Inbound Buweies Refining & Processing Outbound Logistics Marketing & Retail — a Additional access to advantaged feedstocks Expanded logistics system lowers crude acquisition costs + increases speed to market Broader market
Slide 13: Integration: Further Opportunities for Value Chain Capture
Integration: Further Opportunities for Value Chain Capture » Nationwide footprint enables connectivity to key supply ‘Anacortes sources and demand hubs : Mandan Portiand | Dickinson = Broader, integrated system ‘St Paul i ‘li ssattLake city Park Meek carton increases capability to Martine 4 GF risbu
Slide 14: Increasing Synergy Potential
Increasing Synergy Potential Synergy Outlook’ Estimated Annual Run-Rate ($ millions) ($ millions) 380 1,400 1,400 440 400 508 55 4,000 450 = 90 - c Zt) 120 950 Refining & Retall Midstream Corporate Total ¥E2019 E2020 ve2021 Marketing I Initial Synergy Estimates” Updated Synergy Estimates Raising gro
Slide 15: Growing Profitability: Attractive Profile for Investors
Growing Profitability: Attractive Profile for Investors MPC has significantly diversified, and non-refining segments now contribute ~50% of EBITDA. Our strategic and disciplined investments have grown our business, creating an attractive opportunity for investors especially relative to energy and th
Slide 16: Financial Strength Underpins Total Shareholder Returns
Financial Strength Underpins Total Shareholder Returns Robust Balance Sheet’ Investment grade rating $2.8 billion plan in 2019 250% of discretionary free & — Flat with 2018E (combined) cash flow’ targeted tobe ~20% debt to market cap — Anticipate flat in 2020 returned to shareholders 10%+ annual div
Slide 17: MPC: Formula for Creating Exceptional Value
MPC: Formula for Creating Exceptional Value Leading assets & afl Strategic vision to = Exceptional opportunity capabilities grow value for investors Core values and operational Through-cycle excellence resilience Premi et bi remier asset base a competitive Brverionted business model advantages janag
Slide 18: Business Environment
Business Environment
Slide 19: Global & U.S. Economic Outlook Positive
Global & U.S. Economic Outlook Positive Global gasoline demand grows with rising consumer incomes and higher vehicle miles travelled, partially offset by fuel efficiency trends. Distillate demand growth outpaces gasoline, driven by transportation and industrial sectors and impact from IMO 2020. Glob
Slide 20: Global Refining Capacity Relatively Balanced
Global Refining Capacity Relatively Balanced Net worldwide refining capacity growth appears relatively balanced with new capacity in Asia and the Middle East, primarily to support domestic demand. 35 Global Crude Distillation Capacity U.S. Refinery Utilization and Demand Growth 100% 2.0 & § 95% 15 -
Slide 21: Global and U.S. Inventories Support Refining Margins
Global and U.S. Inventories Support Refining Margins Global Gasoline Inventories Global Distillate Inventories 425 650 MMB MMB 375 550 325 450 U.S. Gasoline Days of Supply U.S. Distillate Days of Supply J oF M AM J 5 A S O N D J oF M AM J 5-year Range (13-17) ‘S-year Average (13-17) S-year Range (13
Slide 22: Near-Term Gasoline Weakness, Offset by Long-Term Distillate Strength
Near-Term Gasoline Weakness, Offset by Long-Term Distillate Strength Rise in oil prices this year slowed global gasoline demand growth and strong margins have incentivized high refinery utilization pressuring gasoline margins; expect this to normalize in later part of 2019. Gulf Coast Gasoline & Die
Slide 23: U.S. Refineries Among Most Cost Efficient in World
U.S. Refineries Among Most Cost Efficient in World The U.S. refining system is among the most cost efficient in the world given its access to low-cost natural gas and price-advantaged crudes - making it well-positioned to supply transportation fuels across the world. Transportation Fuel Production C
Slide 24: Commodity Price Assumptions and Long-Term Outlook
Commodity Price Assumptions and Long-Term Outlook Commodity / Spread 2018 2019 ( u Average’ Business P| WTI $66.25 $64 $50 - $80 Brent-WTI $6.50 $3.60 $3 - $12 Brent-ANS $(0.25) $0.10 $(1) - $2 Brent-ASCI $5.00 $6.50 $3 -$9 LLS-WTI $5.00 $3.25 $4-$9 WTI-Bakken $2.75 $1.50 $1- $11 WTI-WCS $27.25 $22
Slide 25: Regional Crack Spread Outlook
Regional Crack Spread Outlook USGC LLS 321 Chicago WTI 324 14.75 $14- $16 Z $8.50 $8.25 $9.25 - $9.75 $12.75 us 2 $6.00 3 $9.00 ° Pa 2016 2017 2018YTD ——-20198-2021E 2016 2017 2018YTD ——-20196-20216 ‘Average ‘Average WC ANS 3214 ULSD - 3% Resid Fuel Oil it $30 - $40 $15 - $17 & $12.50 $14.00 $14.50
Slide 26: IMO: Global Opportunities for Complex Refineries
IMO: Global Opportunities for Complex Refineries Coker Upgrading (ULSD - 3% Resid Fuel Oil) Refiners shift to maximum distillate production and resid upgrading $60 = Ship owners accelerate installation of 50 scrubbers to enable HSFO consumption $40 = Low complexity refineries lighten crude slate a $
Slide 27: Sensitivities to Potential IMO Factors
Sensitivities to Potential IMO Factors EBITDA Impact ote ital pec from $1/BBL change Blended 321 Crack Higher crack required to support increased refinery ~ $1,150 MM production and meet elevated demand for low sulfur fuels ~ Refining yield shift to max distillate production and - Gasoline Crack red
Slide 28: MPC Well-Positioned Among U.S. Refiners
MPC Well-Positioned Among U.S. Refiners MPC well-positioned to produce high value fuels and capture benefits from the adoption of low sulfur fuels regulations - given investments over past decade to enhance upgrading capabilities. Resid Upgrading & aR Residual Fuel Oil Production Distillate Hydrotre
Slide 29: Refining
Slide 30: Roadmap to Creating Superior Value — Refining
Roadmap to Creating Superior Value — Refining Product Placement Flexibility Operational Excellence & Optimization Investments to Optionality Enhance Margin Leverage broader Enhance reliability + 4 Focus on upgrading Enhance domestic scale + logistics availability of assets capabilities (yield produc
Slide 31: Diversified Large-Scale U.S. Refining Portfolio
Diversified Large-Scale U.S. Refining Portfolio tly At2011 listing* fly Acquired 2013 thy Acquired 2018 North America Refining Capacity” (MBPD) o&, | UY \ mec P66 XOM — Shell Chevron La, Allie, Vv PADD 1 = PADD2 = PADD3 =PADD4 =PADDS m Canada LE oa %) Over 3 million BPD of crude throughput capacity
Slide 32: Broader Scale Expands Supply Optionality
Broader Scale Expands Supply Optionality = Larger footprint expands access to advantaged supply: @ Canadian @ Bakken (©) Permian = New logistics assets lower crude acquisition costs = Crude processing flexibility enhances capture of advantaged feedstocks
Slide 33: Canadian Crude Flexibility
@ Canadian Crude Flexibility = Broader system increases access to Canadian crudes enhancing margin capture = Over 500 MBPD of Canadian crude purchases. = Approximately 67% heavy ou, ie and 33% light-synthetic . ! Long-Term wy ‘3 14.75 27.25 20-40 Note: Differentials ($/BBL) rounded to nearest $0.25;
Slide 34: Bakken Strategy Optimization
(2) Bakken Strategy Optimization = New logistics assets increase Bakken crude access, providing more options to capture margin » Connectivity and secured space on long-haul pipelines provide flexibility to our Midwest refineries Is 201417" | 2018 A WTI-Bakken Note: Differentials ($/BBL) rounded to n
Slide 35: Permian Strategy Optimization
3} Permian Strategy Optimization Increasing integrated footprint in the Permian creates multiple benefits across our platform i Midland EIPaso Wink 0 Gathering systems create direct ora Soy 4 rane crude sourcing of advantaged A wiacheres Se vey ledefta crude for our refineries Mage a4 p o (est. 300
Slide 36: Safety & Environmental Excellence: Underpins Our Operations
Safety & Environmental Excellence: Underpins Our Operations ; Personal Safety” Our goal is best-in-class personal safety, process ,, safety, and environmental performance 06 SS o4 0.2 on 0.31 0.32 0.31 0.29 0.27 Environmental Incidents* "2012-2014 = 2015 2016 2017-2018 YTD 60 ‘Average Process Safety
Slide 37: Operational Excellence: Delivers Significant Value
Operational Excellence: Delivers Significant Value Cash Operating Expense* bh = Improve operating costs Galveston Bay'14 ‘ieinaitinien » Best-in-class energy \ efficiency and turnaround a” Quartile i performance Galveston Bay '16 ‘ = Supply chain cost ‘, ‘. x ik improvement Galveston, "19E = Reliabi
Slide 38: Delivering Technical Excellence
Delivering Technical Excellence MPC Refining 5-year Low Cost / No Cost Volume Increases +134 +110 +88 a 2 & = Crude Conversion Hydrotreating Capacity Capacity Capacity Incremental Production Yield Gasoline 3% All Other 33% Optimization has provided ability to capture >$300 million of EBITDA with min
Slide 39: Key Strategic Investments: Grow EBITDA
Key Strategic Investments: Grow EBITDA 1 Expected Annualized Average EBITDA (Sin millions) Investments focused on $1,130 . aan . upgrading capabilities, yield flexibility, and conversion capacity Track record of executing on- schedule and exceeding return forecasts Minimum return threshold of 20% 20
Slide 40: Garyville Coker Project
Garyville Coker 3 Project Increases Garyville coking capacity by 50% to 150 MBPD to increase capability to upgrade resid Enhances distillate yields Leverages existing infrastructure Increases ability to capture upside from light- heavy crude spreads Project details and estimates: 50 MBPD incremental
Slide 41: Galveston Bay STAR Program
Galveston Bay STAR Program Creates a world-class refining complex with 40 MBPD increased crude unit capacity * Increases resid processing and improves gasoil recovery * Optimizes operations and reduces costs Project details and estimates: — Staged investment - on schedule and on budget — Planned com
Slide 42: Dickinson Renewable Diesel
Dickinson Renewable Diesel Produce renewable diesel to capture economic opportunity created by California Low Carbon Fuel Standard and Federal Renewable Fuel Standard Convert refinery to process soybean and corn oil to make 12 MBPD of renewable diesel Local feedstock supply advantage Leverages exist
Slide 43: Los Angeles LARIC Project
Los Angeles LARIC Project Increases the flexibility to produce distillates and significantly lowers emissions 30-40 MBPD of gasoline and distillate yield flexibility Physical integration of the Los Angeles refinery complex enhances optimization Reduces NOx, SOx and CO, emissions Project details and
Slide 44: Unprecedented Opportunities for Light Product Optimization
Unprecedented Opportunities for Light Product Optimization = Nationwide footprint ‘Anacortes enables connectivity to all y Ta ntan US markets Porter Dickinson ‘St. Paul a sateLakeciy PA ae praenes » Multiple pathways cost- Martinez t 7 effectively balance , ree ana supply/demand nue ml Rea Nail prom
Slide 45: Recent Investments Increase Midwest & Gulf Coast Placements
Recent Investments Increase Midwest & Gulf Coast Placements Options and Increase Refining Utilization (@) Improved access to Eastern markets via rail and pipeline (O} Expanded barge/dock systems allow cost effective access to Tennessee and USGC from the Midwest ® Expanded connections from Garyville
Slide 46: Mexico Strategy Optimization
Mexico Strategy Optimization ©) Utilizing ARCO brand at 105 stations in Ba Wc rotneres Western Mexico, expanding ARCO to Martinez FE 2200 overations Chihuahua and Baja Sur in early 2019 ‘a — SB fal Faciity © termina (2) Developing Mexico supply capabilities and efficiency with new Rosarito light pro
Slide 47: Synergies — Early Successes
Synergies — Early Successes Canadian and Bakken } Martinez and St. Paul crude optimization 4 turnaround staffing and ~$40 MM to date contractor utilization decreased costs ~$22 MM Foreign spot optimization 4 to date between Eastern Gulf and | West Coast ~$4 MM Reallocating Tier 2 sulfur to date blen
Slide 48: R&M Segment Synergies
R&M Segment Synergies Estimated Annual Run-Rate* Synergy Projections by Sub-Category i ($ millions) ($ millions) 665 '$ millions) 665 m a 420 2 | zo YE2019 E2020 YE2021 Refining Refining Marketing Supplyand Procurement Total Optimization Business Tong 2 and Best Process 1 Initial Synergy Estimates U
Slide 49: Midstream
Slide 50: Roadmap to Creating Superior Value — Midstream
Roadmap to Creating Superior Value — Midstream Capture Full Enhance Grow in Leverage Financial Midstream ~~ Cash Flow Premier MPC a Priorities F E Value Chain | Stability Basins Relationship Lie elie ely Peel i at q Participate across Long-haul pipelines Permian: \ Fosters growth Self-funding “10- v
Slide 51: U.S. Production Growth Creates Midstream Opportunities
U.S. Production Growth Creates Midstream Opportunities Strong production growth in crude, natural gas, and natural gas liquids will require additional infrastructure to link supply to global demand markets. Pipelines, processing, fractionation and export facilities will be needed to allow producers
Slide 52: Capturing The Full Midstream Value Chain
Capturing The Full Midstream Value Chain Feedstock Acquisition Inbound Logistics Refining & Processing Outbound Logistics Marketing & Retail ie >> Diversification enhances opportunities for revenue capture Integration enables capture of stable fee-based revenue across the value chain Developing asse
Slide 53: Capturing Permian Opportunities: Follow the Molecule
Capturing Permian Opportunities: Follow the Molecule Creating an integrated footprint from Legend the Permian to the Gulf Coast eee me Natural Gas Gathering and processing (2) Long-haul pipelines © Fractionation 4} Export terminals 53
Slide 54: Permian G&P Feeds Downstream Opportunities
@ Permian G&P Feeds Downstream Opportunities Gathering systems create significant growth opportunities in the Permian } Crude gathering - Conan Gathering system connects refineries to well-head — Provides volumes for planned Gray Oak, PGC pipelines Legend* Crude pipetine Natural gas pipeline NGL pip
Slide 55: Permian Crude Long-Haul Pipelines
@ Permian Crude Long-Haul Pipelines Investments in long-haul pipelines generate stable, fee-based midstream income and also help lower feedstock costs tor MPC refineries » Gray Oak Pipeline — MPC, Diamondback Energy, PSXP — ~850 mile, 30-inch diameter — Anticipate in-service 4Q19 = PGC Pipeline — MP
Slide 56: Permian Natural Gas Long-Haul Pipeline
C2) Permian Natural Gas Long-Haul Pipeline Expand our value chain by connecting growing natural gas production to demand from MPC refineries and global export markets » Whistler Pipeline — MPLX, Targa, White Water Midstream, and potentially others TEXAS Waha o. — ~450 miles, 42-inch diameter - Capac
Slide 57: Permian NGL Long-Haul Pipeline and Fractionation
@ Permian NGL Long-Haul Pipeline and @ Fractionation Expand our value chain by connecting growing NGL production and developing new fractionation infrastructure in the Gulf Coast » BANGL Pipeline (Belvieu Alternative NGL) — MPLX, White Water Midstream, and other partners TEXAS — ~400 mile, 24-inch d
Slide 58: Expanding Export Assets at Five Gulf Coast Locations
4) Expanding Export Assets at Five Gulf Coast Locations Export facilities create ability to generate third party revenue and meet global demand for crude, refined products, and NGLs = Currently in service — Mt. Airy, LA: acquired in 3Q18 — LOOP: expansion with potential Capline reversal and Swordfis
Slide 59: Bakken: Third-Party Growth Opportunities
Bakken: Third-Party Growth Opportunities Full-service midstream offering for both third parties and MPC starting at the well-head with crude oil and natural gas gathering through processing and fraction ation with multiple takeaway options NGL hub development project: ~, = New 15 MBPD fractionation
Slide 60: Marcellus/Utica: Footprint Continues to Deliver
Marcellus/Utica: Footprint Continues to Deliver Marcellus/Utica continues to be the largest natural gas basin in the U.S. Current producer demand supports our buildout of incremental infrastructure: Forecasted Volumes 2018E | 2020 | Gathered 3.0 Befd 4.4 Befd Processed 5.4 Befd 7.3 Befd Fractionated
Slide 61: Outlook
Outlook MPL: Assumes MPLX and ANDX operate andeavor MM sg je Adjusted EBITDA ($8) $3.9 $4.4 EBITDA ($8) $14 $16 DCF ($8)? | $3.1 $3.5 DCF ($8)? > $1.4 $12 Outstanding LP Units (MM) 794 794 Outstanding LP Units (MM) 245, 245 Includes maintenance capital reimbursements from the sponsor of Expected ~$1
Slide 62: Marketing & Retail
Marketing & Retail en Sa
Slide 63: Roadmap to Creating Superior Value — Marketing & Retail
Roadmap to Creating Superior Value — Marketing & Retail Leverage Scale Capture ; Enhance to Drive Value A Integration nN ule nee Customer * a be | Growth a Creation Opportunities. Experience Ps Strong brand portfolio Optimize channel Focus on key markets Embrace changing ¥ and loyalty program partic
Slide 64: Unparalleled Nationwide Marketing & Retail Footprint
Unparalleled Nationwide Marketing & Retail Footprint ~12,000 locations nationwide ( ~16 billion gallons of annual fuel sales* a Speedway >70% assured gasoline placement Note: Based on combined estimates for 2018 Across Retall segment and Brand Marketing
Slide 65: Multi-Channel Platform Creates Unrivaled Flexibility
Multi-Channel Platform Creates Unrivaled Flexibility Retail Segment R&M Segment Retail’ Direct Dealer Brand Wholesale = Channel diversity 7.8 billion GPY 2.6 billion GPY 5.3billion GPY 16.9 billion GPY maximizes value capture » Integrated platform provides assured product placement » Retail segment
Slide 66: Wholesale Strategy: Underpins Channel Optimization
Wholesale Strategy: Underpins Channel Optimization 16.9 billion gallons of annual fuel sales across Wholesale channel Scale elevates partnering opportunities given new coast-to-coast platform Geographic diversity provides unrivaled market insights Total Wholesale Volume * Diesel 38% Gasoline 47% Dis
Slide 67: Strong and Diversified Fuel Branding Platform
Strong and Diversified Fuel Branding Platform = Enhanced dual proprietary Brand marketing platform (Marathon + ARCO) = Leverage regional brand strengths and related consumer preferences * Tremendous growth opportunities in Western states m=) 1,120 = Multi branded platform enhances Other 1,796 consol
Slide 68: Platform for Creating Superior Value
Platform for Creating Superior Value Growth in existing and new markets Commercial Fueling/Diesel expansion Remodels with food service focus High-quality M&A Enhanced customer interaction Mobile platforms Secure pump technology Speedy Rewards with data analytics
Slide 69: Retail Segment: MPC's Unique Competitive Advantage
Retail Segment: MPC’s Unique Competitive Advantage Two complimentary retail platforms that Speedway #1 in Peer Group Performance generate stable and growing cash flow with $30 (SM EBITDA/Store/Month) unparalleled integration value. Retail EBITDA Illustration Po ($ millions) > 2,000 AND Rei 10 PC Spe
Slide 70: Retail Segment Synergies
Retail Segment Synergies Estimated Annual Run-Rate* Synergy Projections by Sub-Category ($ millions) ($ millions) 300 300 90 20 200 50 1145 90 20 yE2019 £2020 E2021 Profit Reduce Operating ReduceG&A Economies of ‘Total Enhancement Expenses Expenses Scale on Capital & Initial Synergy Estimates’ ~ Upd
Slide 71: Financial Overview
Slide 72: Financial Principles and Policy
Financial Principles and Policy Disciplined investment in growth opportunities Through-cycle dividend growth Support our investment grade credit rating Return cash to shareholders through repurchases Maintain the safety, integrity and reliability of our assets \N \ Balance Sheet »
Slide 73: Balance Sheet: Foundation for Strategy Execution
Balance Sheet: Foundation for Strategy Execution MPC Liquidity Minimum cash balance $1 - 2 billion Revolving credit facilities Trade receivables facility $750 million Marathon Petroleum MPLX
Slide 74: Disciplined Capital Allocation Policy
Disciplined Capital Allocation Policy 2019 Financial Tar; luding MLPs): Capital expenditures: ~$2.8 billion Dividends Capital Capital return target: > 50% of discretionary Expenditures free cash flow’ — Annual dividend target: > 10% growth — Share repurchase target: at least $2.5 billion expected fo
Slide 75: Disciplined Capital Spend
Disciplined Capital Spend Projected 2019 investments for MPC — Focused on enhancing margin capture system-wide — Disciplined allocation to projects with superior returns — Value-added returns on total capital; 14.5% ROCE’ 3Q18 LTM — MLPs self-fund capital, with limited parent support * Per Bloomberg
Slide 76: Stable and Growing Dividend
Stable and Growing Dividend A | Dividend: Targeting Secure throughout business cycles innual Dividends 2 10% growth ($ per share) $1.84 Growth commensurate with the business 2012 2013 2014 2015 2016 2017 2018E 2019E
Slide 77: Consistent Return of Capital Through Share Buybacks
* Based on 2019 Hlustrative EBITDA calcu Consistent Return of Capital Through Share Buybacks Share Repurchases ($ billions) 4t quarter of 2018: ~$700 million of 7.5 targeted repurchases 33 2019 outlook: expect = $2.5 billion of 24 22.5 repurchases* Existing authorization*: $5.6 billion, potentially
Slide 78: New MPC Segment Reporting Structure
New MPC Segment Reporting Structure Refining ANDX Refining & Marketing = Refining * Marketi : ‘Asphalt & Petrochemicals ' ! Refining = ; {Direct Dealer, Markeane poet eral - Brand 'Brand 1 - Wholesale = Asphalt & Wholesale Petrochemicals MPLX Retail 78
Slide 79: New MPC Segment Reporting Structure
New MPC Segment Reporting Structure Regions: Retail = SGuitCoast Q Direct dealers — Mid-Con S — West Coast & Marketing: Key Statistics: es Statistics: - Brand Pipeline, terminal, and Number of locations - Wholesale gathering throughputs Fuel volumes and margins — Asphalt & Petrochemicals Natural gas
Slide 80: MPC Refining Footprint and Regions
MPC Refining Footprint and Regions Refining Locations 4 refineries: 7141 MBPD* Pricing indicator: WC ANS 324 10 refineries: 1,164 MBPD* Pricing indicator: Chicago WTI 321 2 refineries: 1,149 MBPD* Pricing indicator: GC LLS 321 * Capacities are based on 2018 O&G! submission and reflect crude unit cal
Slide 81: 2019 MPC Illustrative EBITDA
Slide 82: Turnaround Accounting Impacts Peer Comparisons
Slide 83: MPC: Creating Exceptional Value
Slide 84: Closing Remarks
Slide 85: MPC – A Leading Energy Company
Slide 86: Slide 86
Slide 87: Appendix
Slide 88: Market Data Terminologies
Slide 89: Fourth Quarter 2018 Outlook
Slide 90: Committed to Delivering Substantial Synergies
Slide 91: MPLX 2019-2020 Outlook – Reconciliation
Slide 92: MPLX 2019-2020 Outlook – Reconciliation
Slide 93: ANDX 2019-2020 Outlook – Reconciliation
Slide 94: Speedway EBITDA Reconciliation