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Investor Presentaiton

R&M Segment Synergies Estimated Annual Run-Rate ($ millions) 250 1 665 Synergy Projections by Sub-Category ($ millions) 420 200 160 100 260 150 YE2019 Initial Synergy Estimates 2 465 YE2020 YE2021 Updated Synergy Estimates 160 100 100 70 70 140 M MARATHON 665 95 Refining Optimization and Best Practices Refining Turnaround/ Marketing Business Maintenance Process Improvement Supply and Trading Procurement Total Efficiency Raising gross run-rate synergy potential by up to ~40 percent to $665 million 1 Procurement synergies allocated 50/50 to Refining & Marketing and Corporate 2 Initial synergy estimates provided April 30, 2018 32
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