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MPLX 2Q 2026 MPLX SECOND QUARTER 2026 MPLX EARNINGS CONFERENCE CALL August 4 , 2026
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M P L X| 2 Q 2 0 2 6 FORWARD -LOOKING STATEMENTS 2 This presentation contains forward-looking statements regarding MPLX LP (MPLX). These forward-looking statements may relate to, among other things, MPLX’s expectations, estimates and projections concerning its business and operations, financial priorities, including with respect to positive free cash flow and distribution coverage, strategic plans, capital return plans, capital expenditure plans, operating cost reduction objectives, and environmental, social and governance ("ESG") plans and goals, including those related to greenhouse gas emissions, biodiversity, and inclusion and ESG reporting. Forward-looking and other statements regarding our ESG plans and goals are not an indication that these statements are material to investors or required to be disclosed in our filings with the Securities Exchange Commission (SEC). In addition, historical, current, and forward-looking ESG-related statements may be based on standards for measuring progress that are still developing, internal controls and processes that continue to evolve, and assumptions that are subject to change in the future. You can identify forward-looking statements by words such as “advance,” “anticipate,” “believe,” “commitment,” “confidence," “continue,” “could,” “design,” “drive,” “endeavor,” “estimate,” “expect,” “focus,” “forecast,” “goal,” “guidance,” “intend,” “may,” “objective,” “opportunity,” “outlook,” “plan,” “policy,” “position,” “potential,” “predict,” “priority,” “progress,” “project,” “prospective,” “pursue,” “seek,” “should,” “strategy,” “strive,” “support,” “target,” “trends,” “will,” “would” or other similar expressions that convey the uncertainty of future events or outcomes. MPLX cautions that these statements are based on management’s current knowledge and expectations and are subject to certain risks and uncertainties, many of which are outside of the control of MPLX, that could cause actual results and events to differ materially from the statements made herein. Factors that could cause MPLX’s actual results to differ materially from those implied in the forward-looking statements include but are not limited to: political or regulatory developments, changes in governmental policies relating to refined petroleum products, crude oil, natural gas, natural gas liquids (“NGLs”) or renewable diesel and other renewable fuels, or taxation including changes in tax regulations or guidance promulgated pursuant to the new legislation implemented in the One Big Beautiful Bill Act; volatility in and degradation of general economic, market, industry or business conditions, including as a result of pandemics, other infectious disease outbreaks, natural hazards, extreme weather events, regional conflicts such as hostilities in the Middle East and in Ukraine, tariffs, inflation, rising interest rates or government shutdowns; the adequacy of capital resources and liquidity, including the availability of sufficient free cash flow from operations to pay or grow distributions and to fund future unit repurchases; the ability to access debt markets on commercially reasonable terms or at all; the timing and extent of changes in commodity prices and demand for crude oil, refined products, feedstocks or other hydrocarbon-based products or renewable diesel and other renewable fuels; increased pricing volatility or supply disruptions due to the U.S.-Iran conflict and market reactions thereto; changes to the expected construction costs and in service dates of planned and ongoing projects and investments, including pipeline projects and new processing units, and the ability to obtain regulatory and other approvals with respect thereto; the timing and ability to obtain necessary regulatory approvals and satisfy the other conditions necessary to consummate planned transactions within the expected timeframes if at all; the ability to realize expected returns or other benefits on anticipated or ongoing projects or planned transactions, including the recently completed acquisitions of Northwind Delaware Holdings LLC and BANGL, LLC; the inability or failure of our joint venture partners to fund their share of operations and development activities; the financing and distribution decisions of joint ventures we do not control; the availability of desirable strategic alternatives to optimize portfolio assets and the ability to obtain regulatory and other approvals with respect thereto; our ability to successfully implement our sustainable energy strategy and principles and to achieve our ESG plans and goals within the expected timeframes if at all; changes in government incentives for emission-reduction products and technologies; the outcome of research and development efforts to create future technologies necessary to achieve our ESG plans and goals; our ability to scale projects and technologies on a commercially competitive basis; changes in regional and global economic growth rates and consumer preferences, including consumer support for emission-reduction products and technology; industrial incidents or other unscheduled shutdowns affecting our machinery, pipelines, processing, fractionation and treating facilities or equipment, means of transportation, or those of our suppliers or customers; the suspension, reduction or termination of MPC’s obligations under MPLX’s commercial agreements; the imposition of windfall profit taxes, maximum refining margin penalties, minimum inventory requirements or refinery maintenance and turnaround supply plans on companies operating in the energy industry in California or other jurisdictions; the establishment or increase of tariffs on goods, including crude oil and other feedstocks imported into the United States, other trade protection measures or restrictions or retaliatory actions from foreign governments; compliance costs and uncertainty associated with cap and invest programs or similar arrangements or programs in California or other jurisdictions; other risk factors inherent to MPLX’s industry; the impact of adverse market conditions or other similar risks to those identified herein affecting MPC; and the factors set forth under the heading “Risk Factors” and “Disclosures Regarding Forward-Looking Statements” in MPLX’s and MPC's Annual Reports on Form 10-K for the year ended Dec. 31, 2025, and in other filings with the SEC. Any forward-looking statement speaks only as of the date of the applicable communication and we undertake no obligation to update any forward-looking statement except to the extent required by applicable law. Copies of MPLX's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other SEC filings are available on the SEC’s website, MPLX's website at http://ir.mplx.com or by contacting MPLX's Investor Relations office. Copies of MPC's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other SEC filings are available on the SEC’s website, MPC's website at https://www.marathonpetroleum.com/Investors/ or by contacting MPC's Investor Relations office. Non-GAAP Financial Measures Adjusted EBITDA, distributable cash flow (DCF), consolidated debt to last twelve months adjusted EBITDA (leverage ratio), adjusted free cash flow (Adjusted FCF) and Adjusted FCF after distributions are non-GAAP financial measures provided in this presentation. Reconciliations to the nearest GAAP financial measures are included in the Appendix to this presentation. These non-GAAP financial measures are not defined by GAAP and should not be considered in isolation or as an alternative to net income attributable to MPLX, net cash provided by operating activities or other financial measures prepared in accordance with GAAP. This presentation may contain certain EBITDA forecasts that were determined on an EBITDA-only basis. Accordingly, information related to the elements of net income, including tax and interest, are not available and, therefore, reconciliations of these forward-looking non-GAAP financial measures to the nearest GAAP financial measures have not been provided.
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M P L X | 2 Q 2 0 2 6 3 SECOND QUARTER BUSINESS UPDATE $1.8 B of Adj. EBITDA; +5% increase year-over-year 96% processing utilization in the Marcellus Ramping throughputs on Secretariat I and BANGL pipeline Operating Results 300 MMcf/d Harmon Creek III processing plant beginning operations in August Increasing sour gas treating capacity to over 400 MMcf/d Expanding BANGL pipeline to 300 mbpd Advancing 2026 Growth Distributions of $1.1 B to unitholders $50 MM of unit repurchases Maintain strong distribution coverage of 1.3x Committed Capital Returns
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M P L X | 2 Q 2 0 2 6 INVESTING FOR DURABLE GROWTH A l l o c a t i n g o v e r 9 0 % o f 2 0 2 6 g r o w t h c a p i t a l t o i n v e s t m e n t s i n o u r N a t u r a l G a s a n d N G L S e r v i c e s s e g m e n t 4(a) Joint venture projects reported within equity method investments. (b) An extension of the Whistler Pipeline. 2025 2026 (Est. In-Service) 2027+ (Est. In-Service) Secretariat I Gas Processing Plant Expansion of Matterhorn Express Pipeline to 2.5 Bcf/d(a) Delaware Basin Sour Gas Treating Remaining 55% Interest in BANGL Pipeline Additional 5% Interest in Matterhorn Express Pipeline San Juan Basin Crude & Gas Gathering Blackcomb Pipeline(a) Bay Runner Pipeline(a)(b) Expansion of BANGL Pipeline to 300 mbpd Expansion of Titan Sour Gas Treating Plant Harmon Creek III Gas Processing Plant Expansion of BANGL Pipeline to 250 mbpd Gulf Coast LPG Export Terminal(a) Gulf Coast Fractionators Traverse Pipeline(a) Marcellus Gathering System Expansion Secretariat II Gas Processing Plant Eiger Express Pipeline(a) Bay Runner Twin Pipeline(a)(b) Asset In-Service
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M P L X | 2 Q 2 0 2 6 POSITIONED FOR SECOND HALF WEIGHTED GROWTH IN 2026 5(a) Joint venture projects reported within equity method investments. (b) An extension of the Whistler Pipeline. Increasing Utilization Increasing producer activity continues to drive higher utilization across Marcellus, Utica, and Permian Secretariat I Gas Processing Plant BANGL Pipeline Bay Runner Pipeline(a)(b) Harmon Creek III Gas Processing Plant Blackcomb Pipeline(a) Expansion of Delaware Sour Gas Treating Facility Expansion of BANGL Pipeline 200 MMcf/d gas processing plant increases Permian processing capacity to 1.4 Bcf/d 250 mbpd long-haul Permian NGL pipeline linking integrated wellhead-to-water value chain ~2.6 Bcf/d natural gas supply to LNG facilities in Brownsville, Texas 300 MMcf/d gas processing and 40 mbpd de-ethanizer in the Marcellus 2.5 Bcf/d of Permian takeaway capacity Over 400 MMcf/d sour gas treating capacity 300 mbpd long-haul Permian NGL pipeline Volumes Ramping 3Q26 (Est. In-Service) 4Q26 (Est. In-Service)
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M P L X | 2 Q 2 0 2 6 6 PERMIAN: INTEGRATED NATURAL GAS SYSTEM D e l i v e r i n g n a t u r a l g a s t o e x p o r t f a c i l i t i e s a l o n g t h e G u l f C o a s t (a) Joint venture projects reported within equity method investments. 11 Bcf/d of long-haul Permian egress(a) 2.5 Bcf/d of bi-directional capacity between Agua Dulce and Katy Enhanced access to premium markets Platform for additional growth opportunities Pipeline In-Service Pipeline FID/Under Construction LNG export facility (third party) Gathering system Katy Agua Dulce
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M P L X | 2 Q 2 0 2 6 PERMIAN: WELLHEAD -TO -WATER NGL PLATFORM 7 (a) Acquired 150 MMcf/d sour gas treating capacity and two operating AGI wells; incremental capacity and AGI well in construction or planned; (b) Total Permian processing capacity after Secretariat II enters service (expected 2H28); (c) BANGL expansion to 300 mbpd expected 4Q26. (d) Capacity of 400 mbpd for full Export Terminal JV. Clear line-of-sight to volumes supporting our integrated system Integrated NGL value chain positioned to support growing demand for U.S. NGL exports Expanded BANGL pipeline provides critical takeaway capacity as in-basin NGL volumes grow Evaluating opportunities to further enhance our wellhead-to-water growth platform Marketing Producer Volume Sour Gas Treating 400+ MMcf/d(a) Third-Party NGLs ~250 mbpd NGLs 300 mbpd(c) NGLs 300 mbpd NGLs 200 mbpd(d) Propane and Butane Gas Processing 1.7 Bcf/d(b) BANGL Pipeline Fractionation Export Terminal INTEGRATED NGL VALUE CHAIN
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M P L X | 2 Q 2 0 2 6 1,138 23 1,161 2Q25 Segment Adjusted EBITDA ($MM) Change 2Q26 Segment Adjusted EBITDA ($MM) CRUDE OIL AND PRODUCTS LOGISTICS 8 D u r a b l e , f e e- b a s e d c a s h f l o w t h r o u g h i n t e g r a t e d r e l a t i o n s h i p w i t h M P C 2 Q 2 6 O P E R A T I N G S T A T S Volume (MMbpd) vs. 2Q25 Crude Oil Pipelines 3.8 (5)% Product Pipelines 2.0 (2)% Terminals 3.3 2% Higher rates across the business units Increased butane blending Lower crude pipeline throughputs from planned MPC turnaround activity Higher operating expenses due to the seasonality of planned maintenance and project spending
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M P L X | 2 Q 2 0 2 6 NATURAL GAS AND NGL SERVICES 9 (a) Based on average 2025 U.S. marketed natural gas production, as reported by EIA. (b) Includes operating data for entities that have been consolidated into the MPLX financial statements as well as operating data for partnership-operated equity method investments. (c) Excluding divested assets. P r o v i d e s e s s e n t i a l M i d s t r e a m s e r v i c e s f o r o v e r 1 0 % o f a l l n a t u r a l g a s p r o d u c e d i n t h e U n i t e d S t a t e s(a) 2 Q 2 6 O P E R A T I N G S T A T S ( b ) Volume vs. 2Q25 vs. 2Q25 (excl. divested)(c) Gathering 6.9 Bcf/d 5% 15% Processing 9.6 Bcf/d (2)% 5% Fractionation 680 mbpd 7% 8% 552 -37 99 614 2Q25 Segment Adjusted EBITDA ($MM) Divested Non-Core Gathering and Processing Assets in 2025 Growth Inclusive of Acquisitions 2Q26 Segment Adjusted EBITDA ($MM) Impact from the divestiture of non-core gathering and processing assets in 2025 Increased volumes including growth from equity affiliates Contributions from recently acquired long-haul pipelines and sour gas treating assets
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M P L X | 2 Q 2 0 2 6 FINANCIAL PRIORITIES 10 Maintenance Capital Base Distributions Growth Capital Incremental Return of Capital Maintain safety and reliability of assets Primary return of capital tool Disciplined growth opportunities Opportunistic return of capital to unitholders S T R O N G B A L A N C E S H E E T F O U N D A T I O N F O R S T R A T E G Y E X E C U T I O N
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M P L X | 2 Q 2 0 2 6 SUSTAINABILITY HIGHLIGHTS See our most recent Perspectives on Climate-Related Scenarios report on our website for additional information on how we calculate methane intensity and CO2e reductions. (a) Progress through December 31, 2025. 11 ENGAGING WITH COMMUNITIES AND STAKEHOLDERS Strong programs supporting stakeholder engagement Industry-leading pipeline public engagement – Earning Your Trust Program Terminals’ Good Neighbor Program – making a positive impact in communities PUBLISHED LATEST PERSPECTIVES ON CLIMATE- RELATED SCENARIOS AND SUSTAINABILITY REPORTSBIODIVERSITY RIGHT-OF-WAY TARGET 10,215 ACRES Apply sustainable landscapes to ~10,000 acres (~50%) of compatible MPL rights of way by the end of 2025 2025 Goal Progress(a) MPLX FOCUS AREAS FOR METHANE REDUCTIONS Pneumatic Device Emissions Reduction Enhanced Leak Detection and Advanced Monitoring Equipment- Specific and Operational Emissions Controls Optimized Maintenance Venting and System Design R E D U C E CONTINUING TO DRIVE ENERGY EFFICIENCY IMPROVEMENTS Bluestone – 1st natural gas processing facility to take and achieve the challenge 12 MPLX terminals have achieved the challenge MPL’s L.A. Basin area – the industry’s 1st pipeline facility to take and achieve the challenge 14 U.S. EPA’s ENERGY STAR® Challenge for Industry awards, including: METHANE EMISSIONS INTENSITY TARGET 2030 Goal Progress(a) 68% Reduce methane emissions intensity 75% by 2030 from 2016 levels
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M P L X | 2 Q 2 0 2 6 2026: COMMITTED TO CREATING EXCEPTIONAL VALUE 12 TARGETING MID-SINGLE DIGIT GROWTH COMMITTED TO CAPITAL RETURNS Growing integrated value chains Enhancing sour gas treating platform Building on significant Marcellus footprint Durable distribution growth 12.5% distribution increase in 3Q25 Buybacks for incremental capital return Durable cash flow growth Attractive growth opportunities Financial flexibility Peer-leading capital returns V A L U E P R O P O S I T I O N
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M P L X | 2 Q 2 0 2 6 APPENDIX 13
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M P L X | 2 Q 2 0 2 6 $5.8 $6.3 $6.8 $7.0 2022 2023 2024 2025 $ Billion $4.9 $5.2 $5.7 $5.8 2022 2023 2024 2025 $ Billion 10% 10% 12.5% 12.5% 2022 2023 2024 2025 $/unit HISTORY OF STRONG FINANCIAL PERFORMANCE 14(a) Attributable to MPLX LP. (b) Attributable to LP unitholders. (c) Base distribution increase as declared for the third quarter, as compared to the third quarter of the prior year. S T E A D Y C A S H F L O W G R O W T H S U P P O R T S R E I N V E S T M E N T A N D C A P I T A L R E T U R N T O U N I T H O L D E R S Adjusted EBITDA(a) +6.7% CAGR Distributable Cash Flow(b) +6.1% CAGR Quarterly Distribution Growth(c) +11.6% CAGR
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M P L X | 2 Q 2 0 2 6 S T R O N G B A L A N C E S H E E T 15 (a) Total debt excludes unamortized debt issuance costs and unamortized discount/premium. Total debt includes long-term debt due within one year and outstanding borrowings, if any, under the loan agreement with MPC. 0 1 2 2026 2027 2028 2029 2030 $ Billions Debt Maturities Through 2030 3.0x 3.5x 4.0x 2022 2023 2024 2025 Total Debt to LTM Adjusted EBITDA Ratio $ Millions (unless otherwise noted) YE24 YE25 2Q26 Total Debt(a) 21,206 26,006 26,005 LTM Adj. EBITDA 6,764 7,017 7,074 Total Debt to LTM Adj. EBITDA 3.1x 3.7x 3.7x
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M P L X | 2 Q 2 0 2 6 N A T U R A L G A S A N D N G L S E R V I C E S S E G M E N T 16 Area Capacity at End of Quarter (MMcf/d) Average Volume (MMcf/d) Utilization of Available Capacity (%)(b) Marcellus 6,520 6,232 96% Utica 1,325 964 73% Southwest 2,945 2,013 70% Southern Appalachia 405 220 54% Bakken 185 161 87% 2Q26 PROCESSED VOLUMES(a) (a) Includes operating data for entities that have been consolidated into the MPLX financial statements as well as operating data for partnership-operated equity method investments. (b) Based on weighted average number of days plant(s) in service. Area Capacity at End of Quarter (mbpd) Average Volume (mbpd) Utilization of Available Capacity (%)(b) Marcellus/Utica C3+ 413 352 85% Marcellus/Utica C2 349 303 87% Other 57 25 44% 2Q26 FRACTIONATED VOLUMES(a)
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M P L X | 2 Q 2 0 2 6 R E C O N C I L I A T I O N O F A D J U S T E D E B I T D A A N D D I S T R I B U T A B L E C A S H F L O W F R O M N E T I N C O M E 17 $ Millions 2Q 2026 2Q 2025 FY 2025 FY 2024 FY 2023 FY 2022 Net income 1,087 1,058 4,952 4,357 3,966 3,978 Provision for income taxes 2 1 8 10 11 8 Net interest and other financial costs 289 234 983 921 923 925 Income from operations 1,378 1,293 5,943 5,288 4,900 4,911 Depreciation and amortization 365 324 1,351 1,283 1,213 1,230 Income from equity method investments (180) (170) (697) (802) (600) (476) Distributions/adjustments related to equity method investments 234 229 962 928 774 652 Gain on sales-type leases and equity method investments — — (484) — (92) (509) Gain on sale of assets — — (159) — — — Transaction-related costs — — 33 — — — Garyville incident response costs — — — — 16 — Other (11) 25 112 111 100 5 Adjusted EBITDA 1,786 1,701 7,061 6,808 6,311 5,813 Adjusted EBITDA attributable to noncontrolling interests (11) (11) (44) (44) (42) (38) Adjusted EBITDA attributable to MPLX LP 1,775 1,690 7,017 6,764 6,269 5,775 Deferred revenue impacts 27 (10) (57) 31 97 158 Sales-type lease payments, net of income 8 14 62 32 12 18 Adjusted net interest and other financial costs(a) (281) (225) (950) (867) (859) (851) Maintenance capital expenditures, net of reimbursements (68) (45) (256) (206) (150) (144) Equity method investment maintenance capital expenditures paid out (5) (3) (20) (18) (15) (13) Other (6) (1) (5) (39) (14) 38 Distributable cash flow (DCF) attributable to MPLX LP 1,450 1,420 5,791 5,697 5,340 4,981 Preferred unit distributions — — — (27) (99) (129) DCF attributable to LP unitholders 1,450 1,420 5,791 5,670 5,241 4,852 (a) Represents net interest and other financial costs excluding gain/loss on extinguishment of debt and amortization of deferred financing costs.
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M P L X | 2 Q 2 0 2 6 R E C O N C I L I A T I O N O F A D J U S T E D E B I T D A A N D D I S T R I B U T A B L E C A S H F L O W F R O M N E T C A S H P R O V I D E D B Y O P E R A T I N G A C T I V I T I E S 18 $ Millions 2Q 2026 2Q 2025 FY 2025 FY 2024 FY 2023 FY 2022 Net cash provided by operating activities 1,702 1,736 5,909 5,946 5,397 5,019 Changes in working capital items (261) (313) (65) (241) (169) (128) All other, net 12 (6) 1 (5) 39 (27) Loss/(gain) on extinguishment of debt — 3 3 — 9 1 Adjusted net interest and other financial costs(a) 281 225 950 867 859 851 Other adjustments related to equity method investments 18 22 98 102 38 74 Transaction-related costs — — 33 — — — Garyville incident response costs — — — — 16 — Other 34 34 132 139 122 23 Adjusted EBITDA 1,786 1,701 7,061 6,808 6,311 5,813 Adjusted EBITDA attributable to noncontrolling interests (11) (11) (44) (44) (42) (38) Adjusted EBITDA attributable to MPLX LP 1,775 1,690 7,017 6,764 6,269 5,775 Deferred revenue impacts 27 (10) (57) 31 97 158 Sales-type lease payments, net of income 8 14 62 32 12 18 Adjusted net interest and other financial costs(a) (281) (225) (950) (867) (859) (851) Maintenance capital expenditures, net of reimbursements (68) (45) (256) (206) (150) (144) Equity method investment maintenance capital expenditures paid out (5) (3) (20) (18) (15) (13) Other (6) (1) (5) (39) (14) 38 Distributable cash flow (DCF) attributable to MPLX LP 1,450 1,420 5,791 5,697 5,340 4,981 Preferred unit distributions — — — (27) (99) (129) DCF attributable to LP unitholders 1,450 1,420 5,791 5,670 5,241 4,852 (a) Represents net interest and other financial costs excluding gain/loss on extinguishment of debt and amortization of deferred financing costs.
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M P L X | 2 Q 2 0 2 6 R E C O N C I L I A T I O N O F S E G M E N T A D J U S T E D E B I T D A T O N E T I N C O M E 19(a) Includes unrealized derivative gain/(loss), equity-based compensation, provision for income taxes, and other miscellaneous items. $ Millions 2Q 2026 2Q 2025 Crude Oil and Products Logistics segment adjusted EBITDA attributable to MPLX LP 1,161 1,138 Natural Gas and NGL Services segment adjusted EBITDA attributable to MPLX LP 614 552 Adjusted EBITDA attributable to MPLX LP 1,775 1,690 Depreciation and amortization (365) (324) Net interest and other financial costs (289) (234) Income from equity method investments 180 170 Distributions/adjustments from equity method investments (234) (229) Adjusted EBITDA attributable to noncontrolling interests 11 11 Other(a) 9 (26) Net income 1,087 1,058
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M P L X | 2 Q 2 0 2 6 R E C O N C I L I A T I O N O F N E T C A S H P R O V I D E D B Y O P E R A T I N G A C T I V I T I E S T O A D J U S T E D F R E E C A S H F L O W ( F C F ) A N D A D J U S T E D F C F A F T E R D I S T R I B U T I O N S 20 $ Millions 2Q 2026 2Q 2025 Net cash provided by operating activities 1,702 1,736 Adjustments to reconcile net cash provided by operating activities to adjusted free cash flow: Net cash used in investing activities (1,028) (602) Contributions from MPC 5 7 Distributions to noncontrolling interests (11) (11) Adjusted free cash flow 668 1,130 Distributions paid to common and preferred unitholders (1,092) (976) Adjusted free cash flow after distributions (424) 154
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M P L X | 2 Q 2 0 2 6 R E C O N C I L I A T I O N O F L T M N E T I N C O M E T O L T M A D J U S T E D E B I T D A 21 (a) Consolidated total debt excludes unamortized debt issuance costs and unamortized discount/premium. Consolidated total debt includes long-term debt due within one year and outstanding borrowings, if any, under the loan agreement with MPC. (b) Also referred to as our leverage ratio. $ Millions 2Q 2026 FY 2025 FY 2024 LTM Net income 4,767 4,952 4,357 Provision for income taxes 9 8 10 Net interest and other financial costs 1,100 983 921 LTM income from operations 5,876 5,943 5,288 Depreciation and amortization 1,424 1,351 1,283 Income from equity method investments (703) (697) (802) Distributions/adjustments related to equity method investments 991 962 928 Gain on equity method investments (484) (484) — Gain on sale of assets (159) (159) — Transaction-related costs 33 33 — Other 140 112 111 LTM Adjusted EBITDA 7,118 7,061 6,808 LTM Adjusted EBITDA attributable to noncontrolling interests (44) (44) (44) LTM Adjusted EBITDA attributable to MPLX 7,074 7,017 6,764 Consolidated total debt(a) 26,005 26,006 21,206 Consolidated total debt to LTM adjusted EBITDA(b) 3.7x 3.7x 3.1x
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M P L X | 2 Q 2 0 2 6 C A P I T A L E X P E N D I T U R E S 22 $ Millions 2Q 2026 2Q 2025 Capital Expenditures Growth capital expenditures 746 286 Growth capital reimbursements (49) (37) Investments in unconsolidated affiliates 202 203 Return of capital — (39) Capitalized interest (25) (7) Total growth capital expenditures 874 406 Maintenance capital expenditures 73 55 Maintenance capital reimbursements (5) (10) Capitalized interest (1) (1) Total maintenance capital expenditures 67 44 Total growth and maintenance capital expenditures 941 450 Investments in unconsolidated affiliates (202) (203) Return of capital — 39 Growth and maintenance capital reimbursements 54 47 (Increase) decrease in capital accruals 6 (40) Capitalized interest 26 8 Additions to property, plant and equipment 825 301