October 2018 Perspectives on Climate-Related Scenarios RISKS AND OPPORTUNITIES TABLE OF CONTENTS 1 Letter from the Chairman and CEO Glossary of Terms 2 Barrel: 42 U.S. gallons – a common volume measure About MPC for crude oil and petroleum products 4 Introduction bpcd: barrels per calendar day – the average of how much crude oil or other feedstock a refinery processes over a period of time, divided by the 5 Corporate Governance number of days in that period, typically 365 days (a common rate measure for petroleum refineries) 7 Risk Management bpd: barrels per day – a common rate measure for crude oil and petroleum products 9 Strategy and Scenario Planning CAFE Standard: Corporate Average Fuel Economy standard for vehicle fleets mandated by the U.S. federal government 21 Energy Strategy and Performance DOE: The U.S. Department of Energy 29 Environmental Metrics ® EII : Energy Intensity Index, a measure proprietary to energy consulting firm HSB Solomon Associates LLC 31 Physical Risks to Our Facilities EBITDA (a non-GAAP financial measure): Earnings Before Interest, Tax, Depreciation 35 Conclusions and Amortization ENERGY STAR®: A program of the U.S. 36 TCFD Recommendations Environmental Protection Agency recognizing energy efficiency. To achieve this status, applicants must perform in the top quartile for energy efficiency and have no unresolved environmental compliance actions from state or federal regulators. EPA: The U.S. Environmental Protection Agency ERM: Enterprise Risk Management G20: An international forum for the governments and central bank governors from 20 of the world's largest economies GHGs: Greenhouse gases, such as carbon dioxide and methane IEA: International Energy Agency LNG: Liquefied natural gas Metric ton: 2,205 pounds MPC: Marathon Petroleum Corporation NGL: Natural gas liquid – a light hydrocarbon liquid often produced with natural gas OECD: Organisation for Economic Co-operation and Development – a group of the world’s most industrialized nations TCFD: Task Force on Climate-related Financial Disclosures, formed by the Financial Stability Board (an international body that monitors and makes recommendations about the global financial system) From the Chairman and Chief Executive Officer Fellow shareholders, Millions of people rely on us for the fuels and other products that make their lives better every day, and our shareholders rely on us to be good stewards of their investment. To meet these expectations, MPC’s Board of Directors and executive leadership team anticipate and prepare for a variety of risks to our business. Among the risks we consider are those modeled in the hypothetical climate- related scenarios outlined by the International Energy Agency (IEA) and the possibility of extreme weather events. In this publication, we summarize how we have invested in our ability to succeed long into the future, under a variety of scenarios. We have invested billions of dollars to make our operations more energy efficient, reduce our emissions, diversify our business, and harden our facilities against extreme weather like hurricane-force winds and floods. As with any investment we make, we look for measurable results. For example, our energy-efficiency program has saved us hundreds of millions of dollars over the last decade. MPC has also earned more ENERGY STAR® awards from the Environmental Protection Agency than all other U.S. refiners combined, and this year we earned an ENERGY STAR Partner of the Year award for our efforts to increase energy efficiency throughout our business. We have focused on diversifying our business to include natural gas gathering and processing, biofuels manufacturing and expanded retail offerings. We have added significant geographic diversity through our strategic combination with Andeavor, which closed on Oct. 1, 2018. We expect to achieve significant synergies, which will enable us to provide our products and services more cost-effectively. Marathon Petroleum Corporation has been successfully managing risk since its founding more than 130 years ago. We believe the steps we have taken to enhance our resilience leave us well-positioned to succeed in an ever-changing world. We thank you for your ownership stake in MPC. Sincerely, Gary R. Heminger Chairman and Chief Executive Officer 1 ABOUT MPC Marketing Area MPC Refineries MPC Owned and Part-Owned Light Product Terminals MPC Owned Asphalt/Heavy Oil Terminals MPC Owned and Part-Owned Marine Facility Marketing Area Pipelines MPC Refineries MPC Owned & Operated MPC Owned and Part-Owned MPC Interest: Operated by MPLXLight Product Terminals MPC Interest: Operated by OthersMPC Owned Asphalt/Heavy MPC Owned: Operated by ANDXOil Terminals MPC Owned: Operated by OthersMPC Owned and Part-Owned Marine Facility Renewable Fuels Pipelines Ethanol Facility MPC Owned & Operated Biodiesel Facility MPC Interest: Operated by MPLX MPC Interest: Operated by Others MPC Owned: Operated by ANDX ® MPC Owned: Operated by Others MEXICO MPLX Terminals: MPLX Pipelines: Owned and Part-owned Owned Renewable& Operated Fuels MPLX InterestEthanol Pipelines: Facility Barge Dock OperatedBiodiesel by Others Facility Cavern MPLX Operated Pipelines: Owned by Others Natural Gas MPLX Refining ® Processing Complex Logistics Assets MEXICO As of Oct. 1, 2018 MPLX Terminals: MPLX Pipelines: OwnedMPLX and Gathering Part-owned Owned & Operated System MPLX Interest Pipelines: Barge Dock Operated by Others Cavern MPLX Operated Pipelines: Owned by Others ANDX Owned Asphalt NaturalANDX Gas Owned & MPLX Refining Terminals ProcessingOperated Complex Logistics Assets Natural Gas ANDX Interest: MPLX Gathering Processing Complex Operated by ANDX System ANDX Owned Light ANDX Owned: Operated Product Terminals by Others ANDX Owned Marine ANDX Operated: Facility Owned by Others ANDX Owned Asphalt ANDX Owned & ANDX Gathering TerminalsANDX Refining Operated System Logistics Assets Natural Gas ANDX Interest: ANDX Barge Dock Processing Complex Operated by ANDX ANDX Owned Light ANDX Owned: Operated Product Terminals by Others ANDX Owned Marine ANDX Operated: Facility Owned by Others ANDX Gathering ANDX Refining System Logistics Assets ANDX Barge Dock 2 MARATHON PETROLEUM CORPORATION Headquartered in Findlay, Ohio, Marathon Petroleum Corporation (MPC) is a leading nationwide integrated energy company. MPC is the nation’s largest refiner, with a capacity of more than 3 million barrels per day across its 16-refinery system. MPC owns the general partners of MPLX LP and Andeavor Logistics LP (ANDX), two strong, customer- focused midstream master limited partnerships. MPC’s nationwide retail and marketing business includes company- owned and -operated stores and branded locations. OPERATING SEGMENTS Marketing Area MPC Refineries Refining and Marketing: MPC refines crude oil and other MPC Owned and Part-Owned feedstocks at its 16 refineries located in 13 states. MPC Light Product Terminals MPC Owned Asphalt/Heavy sells refined products to wholesale marketing customers Oil Terminals domestically and internationally, buyers on the spot market, MPC Owned and Part-Owned Marine Facility our retail business and to independent entrepreneurs who Pipelines operate approximately 7,800 branded locations, of which MPC Owned & Operated approximately 5,600 are Marathon retail outlets. MPC Interest: Operated by MPLX MPC Interest: Operated by Others MPC Owned: Operated by ANDX Midstream: The Midstream segment gathers, processes MPC Owned: Operated by Others and transports natural gas; gathers, transports, fractionates, Renewable Fuels stores and markets NGLs; and transports and stores crude oil Ethanol Facility and refined products via pipelines, terminals, towboats and Biodiesel Facility barges. MPC has ownership in MPLX and ANDX, two master limited partnerships that are well-positioned for growth in key ® regions of the U.S. MEXICO MPLX Terminals: MPLX Pipelines: Owned and Part-owned Owned & Operated MPLX Interest Pipelines: The retail business includes the Barge Dock Company-Owned Retail: Operated by Others nation’s second-largest company-owned and -operated Cavern MPLX Operated Pipelines: Owned by Others convenience store chain, selling transportation fuels Natural Gas MPLX Refining and convenience products to retail markets. We have Processing Complex Logistics Assets approximately 3,900 locations across the United States, MPLX Gathering System which include company-owned and -operated Speedway retail convenience stores and multi-site operated (MSO) locations. ANDX Owned Asphalt ANDX Owned & Terminals Operated CORPORATE VALUES Natural Gas ANDX Interest: Processing Complex Operated by ANDX We strive to always act responsibly with those who work ANDX Owned Light ANDX Owned: Operated Product Terminals by Others for us, with those business partners who work with us and ANDX Owned Marine ANDX Operated: in every community where we operate. Several core values Facility Owned by Others guide our approach to doing business, including: Health ANDX Gathering ANDX Refining System Logistics Assets and Safety, Environmental Stewardship, Integrity, Corporate ANDX Barge Dock Citizenship, and Diversity and Inclusion. PERSPECTIVES ON CLIMATE-RELATED SCENARIOS | RISKS AND OPPORTUNITIES 3 INTRODUCTION In December 2015, the Financial Stability Board These scenarios conclude that petroleum and – a global body focused on promoting global natural gas will continue to play significant, long- financial stability – launched the Task Force on term roles in meeting the world’s energy needs. Climate-related Financial Disclosures