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2017 Press Releases

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11/14/17Marathon Petroleum Corp. Executive Vice President Rodney P. Nichols to retire
FINDLAY, Ohio, Nov. 14, 2017 - Marathon Petroleum Corp. (NYSE: MPC) today announced the retirement of Rodney P. Nichols, executive vice president of Human Resources, Health and Administrative Services, effective Jan. 1, 2018.Nichols joined Marathon in 1977 and served in a wide variety of roles of increasing responsibility, including positions at company facilities in Bridgeport, Illinois; Anchorage, Alaska; Casper, Wyoming; Garyville, Louisiana; Texas City, Texas; and the company's headquarters ... 
 
11/13/17Marathon Petroleum Corp. and MPLX LP announce agreement for approximately $8.1 billion dropdown to MPLX, and MPC initiates offer to exchange its general partner interests, including its IDRs, in MPLX
FINDLAY, Ohio, Nov. 13, 2017 - Marathon Petroleum Corp. (NYSE: MPC) and MPLX LP (NYSE: MPLX) today announced an agreement for the dropdown of refining logistics assets and fuels distribution services to MPLX for total consideration of approximately $8.1 billion. The transaction is expected to close on Feb. 1, 2018, and be immediately accretive to MPLX's distributable cash flow per unit. These assets and services are projected to generate annual earnings before interest, taxes, depreciation and a... 
 
10/26/17Marathon Petroleum Corp. Reports Third-Quarter 2017 Results
Reported third-quarter earnings of $903 million, or $1.77 per diluted share Achieved strong refining throughput in the third quarter despite Gulf Coast hurricanes Reported record Midstream segment results, primarily driven by MPLX Continued execution of strategic actions, including completion of Speedway evaluation and dropdown of joint-interest ownership in certain assets to MPLX for $1.05 billion Offered remaining dropdown to MPLX; evaluation underway Returned $654 million of capital... 
 
10/25/17Marathon Petroleum Corp. announces dividend
FINDLAY, Ohio, Oct. 25, 2017 - Marathon Petroleum Corporation (NYSE: MPC) announced today that its board of directors declared a dividend of $0.40 per share on common stock. The dividend is payable Dec. 11, 2017, to shareholders of record as of the close of business Nov. 16, 2017.On Oct. 26, MPC will provide an update on its 2017 third-quarter results through an earnings release, to be followed by a conference call scheduled for 9 a.m. EDT that day. Interested parties may listen to the conferenc... 
 
10/17/17Capline Operator to Conduct Reversal Open Season
FINDLAY, Ohio, Oct. 17, 2017 - Marathon Pipe Line LLC, a wholly owned subsidiary of MPLX LP (NYSE: MPLX), the master limited partnership sponsored by Marathon Petroleum Corporation (NYSE: MPC), and operator of the 40-inch, 1.2 million barrel per day capacity Capline pipeline, announced today that the pipeline's owners are launching a non-binding open season to gauge shipper interest in a proposed reversal of Capline, which currently transports crude oil from St. James, Louisiana, to Patoka, Illi... 
 
10/05/17Marathon Petroleum Corp. to announce 2017 third-quarter financial results Oct. 26
FINDLAY, Ohio, Oct. 5, 2017 - Marathon Petroleum Corp. (NYSE: MPC) will host a conference call Thursday, Oct. 26, at 9 a.m. EDT to discuss 2017 third-quarter financial results, which will be released earlier that day, and to provide an update on company operations.Participants will be Gary R. Heminger, chairman and chief executive officer; Don Templin, president; Tim Griffith, senior vice president and chief financial officer; Michael J. Hennigan, president of the general partner of MPLX LP (NYS... 
 
09/28/17Speedway to donate $250,000 for Florida storm recovery
ENON, Ohio, Sept. 28, 2017 - Speedway LLC (Speedway), the nation's second-largest chain of company-owned and -operated convenience stores, will donate $250,000 to charitable organizations in Florida to assist with recovery from Hurricane Irma."We have more than 240 convenience stores in Florida and are committed to helping our friends, neighbors and employees recover from this devastating storm," said Speedway President Anthony R. Kenney. "Speedway's parent company, Marathon Petro... 
 
09/05/17Marathon Petroleum Corp. Provides Update on Strategic Actions to Enhance Shareholder Value
Rigorous independent committee review concludes that long-term shareholder value is optimized with integrated Speedway   Company has returned $1.55 billion to MPC shareholders in the first half of 2017 alone and is committed to returning additional capital as it executes its strategic plan   Company intends to repurchase $1 billion of additional shares by the end of 2017 FINDLAY, Ohio, Sept. 5, 2017 - Marathon Petroleum Corp. (NYSE: MPC) today announced that the company's Board o... 
 
09/01/17Marathon Petroleum Corp. drops down joint-interest ownership in certain assets to MPLX for $1.05 billion
FINDLAY, Ohio, Sept. 1, 2017 - Marathon Petroleum Corp. (NYSE: MPC) and MPLX LP (NYSE: MPLX) today closed a transaction in which MPC contributed its joint-interest ownership in certain pipelines and storage facilities to MPLX for total consideration of $1.05 billion. The assets include MPC's ownership interests in: Explorer Pipeline Co., representing a 24.51 percent interest in the company Lincoln Pipeline LLC, representing a 35 percent interest in the Southern Access Extension Pipeline (SAX) M... 
 
09/01/17Marathon Petroleum Corp. to donate $1 million for Texas storm recovery
FINDLAY, Ohio, Sept. 1, 2017 - Marathon Petroleum Corp. (NYSE: MPC) will donate $1 million to charitable organizations and municipalities in the Galveston County and Corpus Christi, Texas, areas to assist with recovery from Hurricane Harvey, and will donate up to an additional $100,000 to match donations from its employees."We have been a part of this region for more than 50 years, and we are committed to helping our friends and neighbors recover from this devastating storm," said MPC ... 
 
08/29/17Marathon Petroleum Corp. and MPLX LP to present at Barclays' 2017 CEO Energy-Power Conference
FINDLAY, Ohio, Aug. 29, 2017 - On Tuesday, Sept. 5, members of senior management of Marathon Petroleum Corp. (NYSE: MPC) and MPLX LP (NYSE: MPLX) will deliver a presentation to investors and industry analysts at Barclays' 2017 CEO Energy-Power Conference in New York City. The presentation is scheduled to begin at 11:45 a.m. EDT. The live webcast and archived presentation can be viewed on MPC's Investor Relations website, http://ir.marathonpetroleum.com, and MPLX's Investor Relations website, htt... 
 
08/03/17Marathon Petroleum Corporation Revises Second-Quarter 2017 Results in Connection with Litigation Settlements
FINDLAY, Ohio, Aug. 3, 2017 - Marathon Petroleum Corporation (NYSE: MPC) today revised its second-quarter 2017 results to reflect binding settlement agreements related to certain litigation matters. Under the terms of the agreements reached with the plaintiffs and co-defendants, who are contractors engaged by MPC, the company agreed to pay $86 million, subject to requisite court approvals, in exchange for releases of all claims. As a result, the company recorded a charge of $86 million, or $0.10... 
 
07/27/17Marathon Petroleum Corporation Reports Second-Quarter 2017 Results
Reported second-quarter earnings of $515 million, or $1.00 per diluted share, including a net charge of $0.03 per diluted share related to estimated losses for litigation matters partially offset by Sandpiper asset liquidation gains Achieved record second-quarter segment income at Speedway Continuing execution of strategic actions, including next dropdown targeted in third quarter of 2017 Increased quarterly dividend by 11 percent, to $0.40 per share Returned $936 million of capital to s... 
 
07/26/17Marathon Petroleum Corp. increases dividend 11 percent
FINDLAY, Ohio, July 26, 2017 - Marathon Petroleum Corporation (NYSE: MPC) announced today that its board of directors declared a dividend of $0.40 per share on common stock, an 11 percent increase from the $0.36 per share dividend paid in the second quarter of 2017. The dividend is payable Sept. 11, 2017, to shareholders of record as of the close of business Aug. 16, 2017.MPC Chairman and CEO Gary R. Heminger noted that the increase represents a compound annual growth rate of 26 percent from the... 
 
07/13/17Marathon Petroleum Corp. to announce 2017 second-quarter financial results July 27
FINDLAY, Ohio, July 13, 2017 - Marathon Petroleum Corp. (NYSE: MPC) will host a conference call Thursday, July 27, at 9 a.m. EDT to discuss 2017 second-quarter financial results, which will be released earlier that day, and to provide an update on company operations.MPC participants will be Gary R. Heminger, chairman and chief executive officer; Don Templin, president; Tim Griffith, senior vice president and chief financial officer; and other senior executives. The call will be hosted by Lisa Wi... 
 
06/19/17Marathon Petroleum Corp. and MPLX to present at J.P. Morgan Energy Equity Conference June 26
FINDLAY, Ohio, June 19, 2017 - Marathon Petroleum Corp. (NYSE: MPC) Chairman, President and CEO Gary R. Heminger will deliver a presentation on MPC and its master limited partnership MPLX LP (NYSE: MPLX) to investors and industry analysts on Monday, June 26, at the J.P. Morgan 2017 Energy Equity Conference in New York City.Heminger's presentation is scheduled to begin at 1:40 p.m. ET. The live webcast and archived presentation can be viewed on Marathon Petroleum's Investor Relations website, htt... 
 
05/31/17Marathon Petroleum Corp. announces incremental $3 billion share repurchase authorization
FINDLAY, Ohio, May 31, 2017 - The Marathon Petroleum Corp. (NYSE: MPC) board of directors today approved an additional $3 billion share repurchase authorization. This authorization is in addition to its previous authorization, which had approximately $2.14 billion remaining as of March 31."As we execute our strategic initiatives, including dropdowns of midstream assets to our sponsored master limited partnership, we expect cash proceeds from the dropdowns and limited partner distributions t... 
 
05/30/17Marathon Petroleum Corp. names Donald C. Templin president; MPLX LP appoints Michael J. Hennigan president
FINDLAY, Ohio, May 30, 2017 - Marathon Petroleum Corp. (NYSE: MPC) Chairman, President and CEO Gary R. Heminger today announced changes to the company's executive team. Donald C. Templin, president of the general partner of MPLX LP (NYSE: MPLX), has been named president, Marathon Petroleum Corp., effective July 1. Templin joined MPC in June 2011, as senior vice president and chief financial officer before being named executive vice president, Supply, Transportation & Marketing in March 2015.... 
 
05/22/17Marathon Petroleum Corp. vice president John R. Haley to retire
FINDLAY, Ohio, May 22, 2017 - Marathon Petroleum Corp. (NYSE: MPC) today announced the retirement of John R. (JR) Haley, vice president of Tax, effective July 1, 2017. Rick Linhardt, currently Tax Compliance Manager, will replace Haley as director of Tax effective June 5.Haley joined Marathon in 1981 as a tax analyst, and has held a variety of positions within the Tax organization. He was named manager of Tax Accounting for USX Corp. in 1992, when USX owned Marathon. Haley returned to Marathon i... 
 
05/01/17Patricia Richards to retire as head of MPC Federal Government Affairs
Jake Menefee named as successor FINDLAY, Ohio, May 1, 2017 - Marathon Petroleum Corp. (NYSE: MPC) today announced that Patricia Richards, head of office for MPC's Federal Government Affairs, will retire from the company effective July 1. Jake Menefee, currently federal government affairs manager, will transition into his new role as head of office beginning May 8."Patricia leaves behind a legacy of remarkable service to our company," said MPC Chairman, President and CEO Gary Heminger. ... 
 
04/27/17Marathon Petroleum Corporation Reports First-Quarter 2017 Results
Reported first-quarter earnings of $30 million, or $0.06 per diluted share Completed the largest slate of quarterly turnaround activity in MPC history Executed first dropdown of strategic plan with contribution of terminal, pipeline and storage assets to MPLX Returned $610 million of capital to shareholders, including $420 million of share repurchases FINDLAY, Ohio, Apr. 27, 2017 - Marathon Petroleum Corporation (NYSE: MPC) today reported 2017 first-quarter earnings of $30 million, or... 
 
04/26/17Marathon Petroleum Corp. announces dividend
FINDLAY, Ohio, April 26, 2017 - Marathon Petroleum Corp. (NYSE: MPC) announced today that its board of directors declared a dividend of $0.36 per share on common stock. The dividend is payable June 12, 2017, to shareholders of record as of the close of business May 17, 2017.On April 27, MPC will provide an update on its 2017 first-quarter results through an earnings release, to be followed by a conference call scheduled for 9 a.m. EDT that day. Interested parties may listen to the conference cal... 
 
04/04/17Marathon Petroleum Corp. to announce 2017 first-quarter financial results April 27
FINDLAY, Ohio, April 4, 2017 - Marathon Petroleum Corp. (NYSE: MPC) will host a conference call Thursday, April 27, at 9 a.m. EDT to discuss 2017 first-quarter financial results, which will be released earlier that day, and to provide an update on company operations.MPC participants will be Gary R. Heminger, chairman, president and chief executive officer; Tim Griffith, senior vice president and chief financial officer; and other senior executives. The call will be hosted by Lisa D. Wilson, dire... 
 
03/15/17Marathon Petroleum Corp. and MPLX LP announce executive retirement
FINDLAY, Ohio, March 15, 2017 - Marathon Petroleum Corporation (NYSE: MPC) and MPLX LP (NYSE: MPLX) today announced the retirement of Randy S. Nickerson, executive vice president, Corporate Strategy, MPC, and executive vice president and chief commercial officer, MarkWest assets, of the general partner of MPLX, effective April 1, 2017. Following his retirement, Nickerson intends to serve in a consulting/advisory role to MPC and MPLX."After nearly 35 years in the energy industry, Randy has e... 
 
03/09/17Marathon Petroleum Corp. appoints Rodney P. Nichols as executive vice president of Human Resources, Health and Administrative Services
FINDLAY, Ohio, March 9, 2017 - Marathon Petroleum Corp. (NYSE: MPC) today announced the appointment of Rodney P. Nichols, senior vice president, Human Resources and Administrative Services,  to executive vice president, Human Resources, Health and Administrative Services, effective immediately.Nichols will continue to have responsibility for leading MPC's Human Resources, Health Services, Administrative Services and Aviation organizations. He will continue to report to Gary R. Heminger, MPC chai... 
 
03/01/17Marathon Petroleum Corp. drops down terminal, pipeline and storage assets to MPLX for $2 billion
FINDLAY, Ohio, March 1, 2017 - Marathon Petroleum Corp. (NYSE: MPC) and MPLX LP (NYSE: MPLX) today closed a transaction in which MPC contributed certain terminal, pipeline and storage assets to MPLX for total consideration of $2.015 billion. The assets include 62 light-product terminals with approximately 24 million barrels of storage capacity; 11 pipeline systems consisting of 604 miles of pipeline; 73 tanks with approximately 7.8 million barrels of storage capacity; a crude oil truck unloading... 
 
02/07/17Marathon Petroleum Corp. to present at Credit Suisse Energy Summit
(GLOBE NEWSWIRE via COMTEX) --FINDLAY, Ohio, Feb. 7, 2017 - On Tuesday, Feb. 14, Marathon Petroleum Corp. (NYSE: MPC) Chairman, President and CEO Gary R. Heminger will deliver a presentation to investors and industry analysts at the Credit Suisse 2017 Energy Summit in Vail, Colorado. Heminger's presentation is scheduled to begin at 12:05 p.m. MST (2:05 p.m. EST). The live webcast and archived presentation can be viewed on Marathon Petroleum's Investor Relations website, http://ir.marathonpetr... 
 
02/01/17Marathon Petroleum Corporation Reports Fourth-Quarter and Full-Year 2016 Results
Reported fourth-quarter earnings of $227 million ($0.43 per diluted share); full-year earnings of $1.17 billion ($2.21 per diluted share) Speedway achieved record full-year segment results Announced 2017 capital investment plan focused on growth and margin-enhancing investments Executing strategic actions announced on Jan. 3 to enhance shareholder value FINDLAY, Ohio, Feb. 1, 2017 - Marathon Petroleum Corporation (NYSE: MPC) today reported 2016 fourth-quarter earnings of $227 million, o... 
 
01/30/17Marathon Petroleum Corporation Announces 2017 Annual Meeting of Shareholders
FINDLAY, Ohio, Jan. 30, 2017 - Marathon Petroleum Corporation (NYSE: MPC) announced today that its 2017 annual meeting of shareholders will take place at the company's headquarters in Findlay, Ohio, on April 26, 2017 at 10 a.m. EDT. In addition, the company announced that Feb. 27, 2017, has been fixed as the record date for determination of the shareholders of the company entitled to notice of, and to vote at, the annual meeting. ### About Marathon Petroleum Corporation MPC is the nation's t... 
 
01/27/17Marathon Petroleum Corporation announces election of new director
FINDLAY, Ohio, Jan. 27, 2017 - Marathon Petroleum Corporation (NYSE: MPC) today announced that J. Mike Stice has been elected to the company's board of directors, to be effective Feb. 22, 2017. Stice joins the MPC board with a career that spans more than 35 years in the upstream and midstream gas businesses, including as chief executive officer of Access Midstream Partners L.P., where he led one of the largest publicly traded gathering and processing master limited partnerships (MLPs). Stice b... 
 
01/27/17Marathon Petroleum Corp. announces dividend
(GLOBE NEWSWIRE via COMTEX) --FINDLAY, Ohio, Jan. 27, 2017 - Marathon Petroleum Corporation (NYSE: MPC) announced today that its board of directors declared a dividend of $0.36 per share on common stock. The dividend is payable March 10, 2017, to shareholders of record as of the close of business Feb. 16, 2017. On Feb. 1, MPC will provide an update on its 2016 fourth-quarter and full-year results through an earnings release, to be followed by a conference call scheduled for 9 a.m. EST that day.... 
 
01/12/17Marathon Petroleum Corp. appoints Dave Sauber as vice president of Human Resources and Labor Relations
(GLOBE NEWSWIRE via COMTEX) --FINDLAY, Ohio, Jan. 12, 2017 - Marathon Petroleum Corp. (NYSE: MPC) today announced the appointment of Dave Sauber to the position of vice president of Human Resources and Labor Relations, effective Feb. 1. Sauber, 53, comes to MPC after having retired from Shell Oil Company as vice president of Human Resources Policy, Benefits & Services for Shell's business in the U.S. "It is a pleasure to welcome Dave to Marathon Petroleum's executive team," said MPC Chair... 
 
01/11/17Marathon Petroleum Corporation to announce 2016 fourth-quarter and full-year financial results Feb. 1
(GLOBE NEWSWIRE via COMTEX) --FINDLAY, Ohio, Jan. 11, 2017 - Marathon Petroleum Corporation (NYSE: MPC) will host a conference call Wednesday, Feb. 1, at 9 a.m. EST to discuss 2016 fourth-quarter and full-year financial results, which will be released earlier that day, and to provide an update on company operations. MPC participants will be Gary R. Heminger, chairman, president and chief executive officer; Tim Griffith, senior vice president and chief financial officer; and other senior execu... 
 
01/03/17MARATHON PETROLEUM CORPORATION PROVIDES UPDATE ON STRATEGIC ACTIONS TO ENHANCE SHAREHOLDER VALUE
(GLOBE NEWSWIRE via COMTEX) --MPC Expects to Dropdown Assets Generating ~$1.4 Billion of EBITDA to MPLX as Soon as Practicable (Expected in 2017) MPC Expects to Exchange its Economic Interests in the GP for MPLX LP Units in Conjunction with Completion of Dropdowns (Expected in 2017)   Cash Proceeds from Dropdowns and Ongoing LP Distributions Expected to Fund Substantial Ongoing Return of Capital to MPC Shareholders in a Manner Consistent with Maintaining Investment Grade Credit Profiles... 
 

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