Investor Presentaiton

Roadmap to Creating Superior Value - Refining M MARATHON Supply Optionality Leverage broader scale + logistics assets to source cost- advantaged crude Create competitive purchasing advantages through integration Operational Excellence & Optimization Enhance reliability + availability of assets Reduce cost structure Optimize existing processes to deliver synergies Investments to Enhance Margin Focus on upgrading capabilities (yield flexibility + conversion capacity) Track record of execution Return hurdle >20% Product Placement Flexibility Enhance domestic product placement flexibility Expand international export opportunities SPEED LIMIT 10 19

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