Investor Presentaiton
TX
Wink-to-Webster Pipeline
(planned)
Gray Oak Pipeline
(under construction)
3 Permian Strategy Optimization
Increasing integrated footprint in the
Permian creates multiple benefits
across our platform
Gathering systems create direct
crude sourcing of advantaged
crude for our refineries
(est. 300 MBPD total)
Long haul pipelines lower
transport cost and equity interest
generates stable fee-based
midstream income
El Paso
Wink
Orla
Freeport
Ο
Corpus Christi
South Texas Gateway
Terminal
LA
M
MARATHON
Garyville
Galveston Bay
1
1
Export facilities provide flexibility
2014-'17
2018 Avg.
Long-Term
Outlook²
2
to optimize between MPC
WTI-Midland
2.00
7.25
1-7
refining demand and global
demand
Brent-WTI
4.25
6.75
3-12
Note: Differentials ($/BBL) rounded to nearest $0.25; pipelines are shown pictorially only to show flow paths 1 Bloomberg 2 MPC estimates as of December 4, 2018
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