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EARNINGS CONFERENCE CALL November 3, 2026 THIRD QUARTER 2026 M P L X| 3 Q 2 0 2 6
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M P L X| 3 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 planned, anticipated, ongoing, or completed projects or transactions, including the recently announced divestiture of midstream assets related to the St. Paul Park and Mandan refineries and the 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 | 3 Q 2 0 2 6 3 THIRD QUARTER BUSINESS UPDATE $1.9 B of Adj. EBITDA; +5% increase year-over-year Processing utilization of 94% in the Marcellus and 89% in the Utica Ramping throughputs on Secretariat I and Harmon Creek III Operating Results Harmon Creek III complex placed into service Expanding BANGL pipeline to 300 mbpd Increasing treating capacity to over 400 MMcf/d with connectivity to Delaware basin processing plants Advancing Growth Increased quarterly distribution by 12.5% for third consecutive year Distributions of $1.1 B to unitholders $50 MM of unit repurchases Committed Capital Returns
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M P L X | 3 Q 2 0 2 6 INVESTING FOR DURABLE GROWTH 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 Expansion of Titan Sour Gas Treating Plant Blackcomb Pipeline(a) Expansion of BANGL Pipeline to 300 mbpd Bay Runner Pipeline(a)(b) Harmon Creek III Gas Processing Plant and De-Ethanizer 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 Solitude Pipeline System(a) Allocating over 90% of 2026 growth capital to investments in our Natural Gas and NGL Services segment
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M P L X | 3 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. Base Operations Increasing producer activity continues to drive higher utilization across Marcellus, Utica, and Permian Harmon Creek III Gas Processing Plant Secretariat I Gas Processing Plant BANGL Pipeline Expansion of Delaware Basin Sour Gas Treating Expansion of BANGL Pipeline Bay Runner Pipeline(a)(b) 300 MMcf/d gas processing and 40 mbpd de-ethanizer in the Marcellus 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 Over 400 MMcf/d sour gas treating capacity 300 mbpd long-haul Permian NGL pipeline ~2.6 Bcf/d natural gas supply to LNG facilities in Brownsville, Texas Progressing Utilization 4Q26 (Est. In-Service) Blackcomb Pipeline(a) 2.5 Bcf/d of Permian takeaway capacity
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M P L X | 3 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. Midland Corpus Christi Brownsville Matterhorn Whistler Agua Blanca Bay Runner I & Twin Eiger ADCC Agua Dulce Katy Waha TraverseBlackcomb Solitude I & II In-Service FID/Under Construction ~16 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
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M P L X | 3 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 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 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
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M P L X | 3 Q 2 0 2 6 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 Higher rates across the business units Increased butane blending Higher operating expenses primarily driven by increased compensation expense 1,137 67 1,204 3Q25 Segment Adjusted EBITDA ($MM) Change 3Q26 Segment Adjusted EBITDA ($MM) 3 Q 2 6 O P E R A T I N G S T A T S Volume (MMbpd) vs. 3Q25 Crude Oil Pipelines 3.9 1% Product Pipelines 2.1 0% Terminals 3.4 6%
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M P L X | 3 Q 2 0 2 6 629 60 655 (34) 3Q25 Segment Adjusted EBITDA ($MM) Divested Non-Core Gathering and Processing Assets in 2025 Growth Inclusive of Acquisitions 3Q26 Segment Adjusted EBITDA ($MM) 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) 3 Q 2 6 O P E R A T I N G S T A T S ( b ) Volume vs. 3Q25 vs. 3Q25 (excl. divested)(c) Gathering 7.2 Bcf/d 4% 14% Processing 9.9 Bcf/d (1)% 5% Fractionation 696 mbpd 3% 4% Impact from the divestiture of non-core gathering and processing assets in 2025 Increased volumes including growth from equity affiliates and acquisition of sour gas treating assets Higher operating expenses primarily driven by increased compensation expense
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M P L X | 3 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 | 3 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 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 | 3 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 3Q26 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 | 3 Q 2 0 2 6 APPENDIX 13
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M P L X | 3 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 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) +12.5% CAGR 10% 12.5% 12.5% 12.5% 2023 2024 2025 2026 $/unit
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M P L X | 3 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 3Q26 Total Debt(a) 21,206 26,006 27,005 LTM Adj. EBITDA 6,764 7,017 7,167 Total Debt to LTM Adj. EBITDA 3.1x 3.7x 3.8x ▪ On August 24, 2026, MPLX issued $2.25 billion of senior notes in an underwritten public offering. ▪ On September 23, 2026, MPLX redeemed all of its outstanding $1.25 billion senior notes due March 2027.
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M P L X | 3 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 6,820 6,302 94% Utica 1,325 1,180 89% Southwest 2,945 2,106 72% Southern Appalachia 405 196 48% Bakken 185 157 85% 3Q26 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+ 413 362 88% Marcellus/Utica C2 389 311 87% Other 57 23 40% 3Q26 FRACTIONATED VOLUMES(a)
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M P L X | 3 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(a) Represents net interest and other financial costs excluding gain/loss on extinguishment of debt and amortization of deferred financing costs. $ Millions 3Q 2026 3Q 2025 FY 2025 FY 2024 FY 2023 FY 2022 Net income 1,174 1,555 4,952 4,357 3,966 3,978 Provision for income taxes 2 3 8 10 11 8 Net interest and other financial costs 300 243 983 921 923 925 Income from operations 1,476 1,801 5,943 5,288 4,900 4,911 Depreciation and amortization 378 346 1,351 1,283 1,213 1,230 Income from equity method investments (282) (186) (697) (802) (600) (476) Distributions/adjustments related to equity method investments 250 251 962 928 774 652 Gain on sales-type leases and equity method investments — (484) (484) — (92) (509) Gain on sale of assets — — (159) — — — Transaction-related costs — 21 33 — — — Garyville incident response costs — — — — 16 — Other 48 28 112 111 100 5 Adjusted EBITDA 1,870 1,777 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 1,859 1,766 7,017 6,764 6,269 5,775 Deferred revenue impacts 15 (6) (57) 31 97 158 Sales-type lease payments, net of income 8 21 62 32 12 18 Adjusted net interest and other financial costs(a) (291) (236) (950) (867) (859) (851) Maintenance capital expenditures, net of reimbursements (49) (70) (256) (206) (150) (144) Equity method investment maintenance capital expenditures paid out (7) (4) (20) (18) (15) (13) Other 2 (3) (5) (39) (14) 38 Distributable cash flow (DCF) attributable to MPLX LP 1,537 1,468 5,791 5,697 5,340 4,981 Preferred unit distributions — — — (27) (99) (129) DCF attributable to LP unitholders 1,537 1,468 5,791 5,670 5,241 4,852
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M P L X | 3 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(a) Represents net interest and other financial costs excluding gain/loss on extinguishment of debt and amortization of deferred financing costs. $ Millions 3Q 2026 3Q 2025 FY 2025 FY 2024 FY 2023 FY 2022 Net cash provided by operating activities 1,477 1,431 5,909 5,946 5,397 5,019 Changes in working capital items 54 40 (65) (241) (169) (128) All other, net (3) — 1 (5) 39 (27) Loss on extinguishment of debt 1 — 3 — 9 1 Adjusted net interest and other financial costs(a) 291 236 950 867 859 851 Other adjustments related to equity method investments 18 15 98 102 38 74 Transaction-related costs — 21 33 — — — Garyville incident response costs — — — — 16 — Other 32 34 132 139 122 23 Adjusted EBITDA 1,870 1,777 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 1,859 1,766 7,017 6,764 6,269 5,775 Deferred revenue impacts 15 (6) (57) 31 97 158 Sales-type lease payments, net of income 8 21 62 32 12 18 Adjusted net interest and other financial costs(a) (291) (236) (950) (867) (859) (851) Maintenance capital expenditures, net of reimbursements (49) (70) (256) (206) (150) (144) Equity method investment maintenance capital expenditures paid out (7) (4) (20) (18) (15) (13) Other 2 (3) (5) (39) (14) 38 Distributable cash flow (DCF) attributable to MPLX LP 1,537 1,468 5,791 5,697 5,340 4,981 Preferred unit distributions — — — (27) (99) (129) DCF attributable to LP unitholders 1,537 1,468 5,791 5,670 5,241 4,852
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M P L X | 3 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 3Q 2026 3Q 2025 Crude Oil and Products Logistics segment adjusted EBITDA attributable to MPLX LP 1,204 1,137 Natural Gas and NGL Services segment adjusted EBITDA attributable to MPLX LP 655 629 Adjusted EBITDA attributable to MPLX LP 1,859 1,766 Depreciation and amortization (378) (346) Net interest and other financial costs (300) (243) Income from equity method investments 282 186 Distributions/adjustments from equity method investments (250) (251) Gain on equity method investments — 484 Transaction-related costs(a) — (21) Adjusted EBITDA attributable to noncontrolling interests 11 11 Other(a) (50) (31) Net income 1,174 1,555
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M P L X | 3 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 3Q 2026 3Q 2025 Net cash provided by operating activities 1,477 1,431 Adjustments to reconcile net cash provided by operating activities to adjusted free cash flow: Net cash used in investing activities (1,034) (3,731) Contributions from MPC 15 6 Distributions to noncontrolling interests (11) (11) Adjusted free cash flow 447 (2,305) Distributions paid to common and preferred unitholders (1,092) (975) Adjusted free cash flow after distributions (645) (3,280)
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M P L X | 3 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 3Q 2026 FY 2025 FY 2024 LTM Net income 4,386 4,952 4,357 Provision for income taxes 8 8 10 Net interest and other financial costs 1,157 983 921 LTM income from operations 5,551 5,943 5,288 Depreciation and amortization 1,456 1,351 1,283 Income from equity method investments (799) (697) (802) Distributions/adjustments related to equity method investments 990 962 928 Gain on equity method investments — (484) — Gain on sale of assets (159) (159) — Transaction-related costs 12 33 — Other 160 112 111 LTM Adjusted EBITDA 7,211 7,061 6,808 LTM Adjusted EBITDA attributable to noncontrolling interests (44) (44) (44) LTM Adjusted EBITDA attributable to MPLX 7,167 7,017 6,764 Consolidated total debt(a) 27,005 26,006 21,206 Consolidated total debt to LTM adjusted EBITDA(b) 3.8x 3.7x 3.1x
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M P L X | 3 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 3Q 2026 3Q 2025 Capital Expenditures Growth capital expenditures 776 513 Growth capital reimbursements (37) (36) Investments in unconsolidated affiliates 281 240 Return of capital — (62) Capitalized interest (29) (10) Total growth capital expenditures 991 645 Maintenance capital expenditures 65 81 Maintenance capital reimbursements (16) (11) Capitalized interest (1) (1) Total maintenance capital expenditures 48 69 Total growth and maintenance capital expenditures 1,039 714 Investments in unconsolidated affiliates (281) (240) Return of capital — 62 Growth and maintenance capital reimbursements 53 47 Increase in capital accruals (46) (90) Capitalized interest 30 11 Other — 22 Additions to property, plant and equipment 795 526