Welcome

Louisiana Refining DivisionGaryville, LA

March 25, 2012

Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements relate to, among other things, Marathon Petroleum Corporation’s (MPC) current expectations, estimates and projections concerning MPC business and operations, as well as MPC’s evaluation of strategic alternatives, including a possible initial public offering of interests in a master limited partnership. You can identify forward-looking statements by words such as “anticipate,” “believe,” “estimate,” “expect,” “forecast,” “project,” “could,” “may,” “should,” or “would” or other similar expressions that convey the uncertainty of future events or outcomes. Such forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond the company’s control and are difficult to predict. Factors that could cause actual results to differ materially from those in the forward-looking statements include: further volatility in and/or degradation of market and industry conditions; the availability and pricing of crude oil and other feedstocks; slower than anticipated growth in domestic and Canadian crude supply; completion of pipeline capacity to areas outside the U.S. Midwest; consumer demand for refined products; changes in governmental regulations; transportation logistics; the availability of materials and labor, delays in obtaining necessary third-party approvals, and other risks customary to construction projects; the reliability of processing units and other equipment; our ability to successfully implement growth opportunities; impacts from our repurchases of shares of MPC common stock under our stock repurchase plan, including the timing and amounts of any common stock repurchases; the risk that an initial public offering or other transaction may not be pursued, or if pursued, may not be consummated; other risk factors inherent to our industry; and the factors set forth under the heading “Risk Factors” in MPC’s Annual Report on Form 10-K for the year ended December 31, 2011 filed with the Securities and Exchange Commission (the “SEC”). In addition, the forward-looking statements included herein could be affected by general domestic and international economic and political conditions. Unpredictable or unknown factors not discussed here or in MPC’s Form 10-K could also have material adverse effects on forward-looking statements. Copies of MPC’s Form 10-K are available on the SEC website, at http://ir.marathonpetroleum.com or by contacting MPC’s Investor Relations Office.

2

Agenda

Garyville Refinery Facts – Bubbie Anderson, Division Manager

The GME Expansion Story – Bubbie Anderson, Division Manager

Safety and Environmental Excellence – Bubbie Anderson, Division Manager

Product Supply and Distribution – John Weber, Products Control Manager

Growth/Optimization of Existing Assets – Eric Sjunnesen, Technical Services Mgr.

Reliability is Key – David Gautreaux, Maintenance Manager

Commitment to the Community – Jaime De La Cruz, HR Manager

Refinery Tour – Mark Perry, Operations Manager

San Francisco Plantation Reception

3

Garyville Refinery Fact Sheet

Site – Located between New Orleans and Baton Rouge on approximately 3,500 acres of land adjacent to U.S. Highway 61 and the Mississippi River.

History – Construction began in 1973 by ECOL, Ltd.; completed in 1976, when Marathon purchased and started up the plant; last grassroots refinery built in the U.S.; located on former San Francisco Plantation property, designated a National Historic Landmark.

Refining Capacity – 490,000 barrels per calendar day

Crude Oil Supply – Primarily heavy sour crude oils

Operations – Crude distillation, hydrocracking, catalytic cracking, hydrotreating, reforming, alkylation, sulfur recovery and coking

Products – Gasoline, diesel, kerosene, asphalt, propylene, butane, isobutane, propane, petroleum coke and sulfur

Product Distribution – Pipeline, tanker truck, barge, rail, ocean tanker

Economic Impact – Approximately 800 employees and 350 contract workers

Major Project – Completed $3.9 billion expansion project in late 2009

4

The GME Expansion Story

Bubbie Anderson

5

Garyville Major Expansion (GME) Project

Garyville, LA refinery is last grassroots refinery built in the U.S. (1976) Base Garyville refinery, 2008 Solomon survey

Best U.S. cash cost operating expense Second-best U.S. Energy Intensity Index

$3.9 billion, excluding capitalized interest, GME Project completed in late 2009 initially expanded crude oil refining capacity by 180,000 BPD and improved Garyville’s overall fixed cash cost by ~20% per barrel

Garyville is now the 3rd largest refinery in U.S. at 490,000 BPCD Currently have permit to test throughput at higher volumes

GME Significantly Enhances MPC’s Cash Flow and Profit Opportunities

6

$3.9 Billion* Garyville Major Expansion

1/1/2009 256 MBPCD

Crude Capacity

190 MBPCD Gasoline

95 MBPCD Diesel

18th Largest U.S. refinery

1/1/2012 490 MBPCD

Crude Capacity

305 MBPCD Gasoline

215 MBPCD Diesel

Third Largest U.S. refinery

*Excludes capitalized interest

7

1/1/2010 436 MBPCD

Crude Capacity

290 MBPCD Gasoline

175 MBPCD Diesel

Fourth Largest U.S. refinery

1/1/2011 464 MBPCD

Crude Capacity

300 MBPCD Gasoline

185 MBPCD Diesel

Third Largest U.S. refinery

Further Enhancing Last Grassroots Refinery Built in U.S.

Safety and Environmental Excellence

Bubbie Anderson

8

Safety and Environmental Excellence

Only petroleum refinery in the country admitted into the EPA’s National Environmental Performance Track Program

Only refinery accepted in the EPA’s Voluntary Early Reduction Program for Air Toxics under Clean Air Act

14 Governor’s Environmental Leadership Awards since 1996

OSHA Voluntary Protection Program (VPP) Star Site since 1994

9

Product Supply and Distribution

John Weber

10

Crude and Feedstock Flexibility Creates Opportunity

Crude Options Heavy Sour to Light Sweet

High TAN

Foreign and Domestic

Feedstock Purchases Allow Us to: Maximize downstream unit utilization

Take advantage of low cost blendstocks

Boost production and lower $/BBL cost

Product Flexibility – We can: Meet export gasoline and diesel specs

Supply products to both domestic and foreign markets

Swing in and out of asphalt and heavy fuel oil markets

11

Garyville Opportunity Crudes

12

NEW CRUDES PROCESSED IN 2011

Crude OriginAPI

Gravity Sulfur TANVac

Resid %

AccessWestern Blend

Canada 21.8 4.04 2.3 38.3

Albian Muskeg Heavy

Canada 21.6 3.81 1.6 36.0

Frade Brazil 19.9 0.72 1.4 27.3

Olende Gabon 20.7 1.36 4.6 30.1

Peregrino Brazil 13.6 1.76 0.9 41.8

Roncador Heavy

Brazil 18.1 0.69 2.6 32.2

Processed 30 Crudes from 12 Different Countries

Gabon

Canada

USA

Brazil

Angola

MexicoVenezuela

Chad

Saudi Arabia

Iraq

Russia

Kuwait

New 2011 Countries

Other Current Countries

Blue Water Logistics

New dock increased capacity by 40%

Supply Florida while increasing exports

In addition to products, supports opportunity crudes, feedstocks and blendstocks

Brown Water Logistics

Import heavy Canadian crudes

Allows movement of intermediates to and from all of MPC's Midwest refineries

Product supply contingency for Midwest

Pipelines Logistics

Connected to LOOP/LOCAP, Colonial and Plantation

Capacity for 100% of crude supply and 80% of light products

Advantage of “up-line” product premium

Flexibility to trade Garyville production for Houston-sourced volumes

Europe

South America

Mexico

Florida Market

Flexibility to Participate in the Highest Value Markets

13

Garyville: World-class Refinery – Worldwide Options

13

U.S. Distillate Exports Continue to Grow

U.S. distillate exports continue to reach record levels, exceeding 1 MMBPD in October 2011.

Gasoline exports have also strengthened, exceeding imports recently.

The global trade in these two products continues to grow after averaging 3.4 and 5.6 MMBPD for gasoline and distillate, respectively, in 2010.

14

Source: U.S. Energy Information Administration

U.S. Exports Mitigate Declining Domestic Transportation Fuels Demand

0

100

200

300

400

500

600

700

800

900

2003 2004 2005 2006 2007 2008 2009 2010 2011e

U.S. Distillate Export Growth

Central & South America

Mexico

Netherlands

Other

MBP

D

Garyville Gasoline and Diesel Export

Scope – Add gasoline export tank and expand diesel loading capacity to docks

Strategic Focus – Increase export capability

Investment: ~$40 million

Estimated incremental annual EBITDA based on: 2010-11 Prices: ~$10 million

Completion in 2014

15

Expanding Export Potential

16

Growth/Optimization of Existing Assets

Eric Sjunnesen

Garyville Diesel Projects

Scope – Modify Crude Unit, Hydrocracker and Distillate Hydrotreaters

Strategic Focus – Increase finished ULSD production from gas oil

Investment: ~$250 million over four years

Estimated incremental annual EBITDA based on: 2006-10 Prices: ~$170 million 2011 Prices: ~$180 million

Multiple projects with completion of final phase in 2015

17

Expanding Diesel Production Capacity

Diesel Production Profile

20%

22%

24%

26%

28%

30%

32%

34%

36%

38%

40%

0

50

100

150

200

250

300

350

400

450

500

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 est

2013 est

2014 est

2015 est

Diesel volum

e % of crude

Die

sel p

rodu

ctio

n M

BPCD

MPC Diesel MBCD MPC Diesel % U.S. Avg. %

(Excludes Kerosene and Jet Fuel)

18

U.S. Avg. based on EIA data through 2010, then projected growth based on MPC evaluation of expected demand, imports, exports, capacity, etc., for U.S.

Expanding Diesel Production CapacityNote: Excludes St. Paul Park Refinery that was sold on December 1, 2010

Other Projects

Improving molecule management

Recovering distillate from FCCU slurry

Increasing coker distillate endpoint

Increasing off-gas sales

Smaller rate creep projects

Projects that cost < $2 MM, but have over 100% ROI

Removing hydraulics constraints with pump impellers, etc

19

Reliability is Key

David Gautreaux

20

Reliability

In order to maximize shareholder value, Garyville operation must be predictable and reliable.

Mechanical Integrity Program is the heart of reliability effort Any and all equipment included that upon failure could result in a

– Release of highly hazardous chemical– Failure to detect or mitigate a release of a highly hazardous chemical

21

Mechanical Integrity

Our approach to OSHA PSM guidelines for Mechanical Integrity involves doing more than the minimum requirements.

Garyville numbers: 13,000 fixed equipment assets

2,200 rotating equipment assets

150,000 locations at which thickness of equipment is monitored for damage

All of this equipment is inspected and maintained on regular intervals.

22

Availability is a Key to Optimizing MPC Profitability

50%

55%

60%

65%

70%

75%

80%

85%

90%

95%

100%

2005 2006 2007 2008 2009 2010 2011

Mechanical Availability*

23

*Rated Capacity less lost capacity due to planned and unplanned outagesRated Capacity

Consistent Execution

Commitment to our Community

Jaime De La Cruz

24

Our Philosophy

Investing and volunteering in our community are integral to our business

Our community’s health and vitality are essential to our success

We focus resources where we can make the greatest impact

Working in Garyville and St. John Parish is our privilege

We are committed to a full partnership with our neighbors so they can grow and prosper with us

25

Our Actions and Investments

Invest over $1 million dollars on employee welfare and community initiatives annually

St. John United Way – Executive Board Member Company Largest contributor in Parish – over $206,000 from 2011 employee campaign

Chair every major St. John United Way fundraiser – Golf Tournament; Cook-off

Internal United Way Committee of 30 employees

Supriya Jindal Foundation for Louisiana’s Children – Charter Member Invested $70,000 in 2012

24 Interactive Smart Boards installed locally

17-29% improvement in academic achievements

Classroom visits with Supriya Jindal to teach students

Other Educational Investments $45,000 invested annually in three local “adopted” schools

$17,000 invested annually in all remaining Parish schools

Backpack Drive – 180 fully stocked backpacks provided to grade school students

MPC Science Experiments Expo Day

Judge local Social Studies and Science Experiments

Teach For America Support – $2,000 per teacher

26

Our Actions and Investments

Ezekiel Jackson Park – Garyville Sponsor and organize annual Ezekiel Jackson Park Festival for Garyville residents Fence and concession stand repairs New playground equipment installed Lighted walking/jogging track New gazebo

San Francisco Plantation Foundation Provide annual volunteer and budgetary support Sponsor and organize annual “Frisco Fest” festival

Other Community Outreach Activities Recently hired Community Relations Representative SCL Technical College Big Brothers Big Sisters of Southeast Louisiana – over $10,000 provided annually Young Marines UNCF Walk for Life Thanksgiving Meals to the Community Adopt a Family with St. John Ministry of Care VFW – Veterans of Foreign Wars LSU Scholarships – over $44,000 provided

27

Refinery Tour

Mark Perry

28