Financial Data and Key Metrics Changes - Adjusted EBITDA for Q4 2021 was reported at $1.4 billion, with a full-year total of $5.6 billion, reflecting a 7% increase year-over-year [6][20] - Distributable cash flow for Q4 2021 was $1.2 billion, an increase of almost 5% from the prior year [20] - The company returned over $4.2 billion to unitholders through distributions and unit repurchases in 2021 [8] Business Line Data and Key Metrics Changes - In the Logistics and Storage (L&S) segment, adjusted EBITDA increased by $50 million year-over-year, with pipeline volumes up 18% and terminal volumes up 11% [14] - The Gathering and Processing (G&P) segment saw adjusted EBITDA increase by $40 million compared to Q4 2020, driven by higher NGL prices, which averaged $1.05 per gallon, more than double the $0.52 per gallon in Q4 2020 [16][17] Market Data and Key Metrics Changes - The company experienced strong cash flow due to tailwinds from high NGL prices and recovery in U.S. refined product demand [8] - Gathered volumes in the Marcellus region were up 7%, while processing and fractionation volumes decreased by 2% and 6%, respectively [18] Company Strategy and Development Direction - The capital outlook for 2022 is set at $900 million, with a focus on high capital return projects, including expansions and debottlenecking of existing assets [9][10] - The company is evaluating low carbon opportunities to leverage its competitive advantage, particularly in support of MPC's renewable efforts [9][12] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about achieving solid operational performance in 2022, despite acknowledging the one-off tailwinds that benefited 2021 results [11][36] - The company aims to maintain a strong balance sheet with a target leverage ratio of around 4x, while continuing to focus on capital discipline and a low-cost culture [10][22] Other Important Information - The company completed the sale of the Javelina processing plant and other minor assets for approximately $110 million [8][53] - The company declared a fourth-quarter distribution of $0.705 per unit, resulting in a distribution coverage of 1.64x for Q4 [20] Q&A Session Summary Question: Context on growth CapEx for 2022 - Management confirmed that some spending from 2021 would shift into 2022, with a focus on smaller debottlenecking and expansion projects rather than large capital projects [25][26] Question: Drivers for EBITDA in 2022 - Management highlighted NGL prices and potential asset sales as key drivers, while noting uncertainty around capital spending and working capital [32][34] Question: Clarification on Whistler expansion - The Whistler expansion to 2.5 Bcf per day is under consideration but not yet budgeted; timing and costs remain to be determined [43][44] Question: Impact of inflation on capital allocation - Management indicated a focus on maintaining a strong balance sheet while evaluating growth opportunities and potential distribution increases [46][47] Question: Asset sales and market appetite - The company continues to evaluate its assets, with recent sales resulting from portfolio optimization; market appetite for G&P assets remains under review [52][54] Question: Northeast production outlook - Management expects continued flat production in the Northeast, with some producers slowly bringing on new pads [60] Question: Processing capacity changes - Adjustments in processing capacity were made as part of cost reduction efforts, with some units idled based on demand [72]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _____________________________________________ FORM 10-Q ____________________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-35714 MPLX LP ( ...

MPLX LP (NYSE:MPLX) Q3 2021 Earnings Conference Call November 2, 2021 9:30 AM ET Corporate Participants Kristina Kazarian - Vice President-Investor Relations Mike Hennigan - Chairman, President and Chief Executive Officer John Quaid - Chief Financial Officer Greg Floerke - Executive Vice President & Chief Operating Officer Tim Aydt - Executive Vice President and Chief Commercial Officer Conference Call Participants Brian Reynolds - USB John Mackay - Goldman Sachs Michael Blum - Wells Fargo Theresa Chen - Ba ...

1 Third Quarter 2021 Earnings Conference Call November 2, 2021 Forward‐Looking Statements 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, operating cost and capital expenditure reduction ...

MPLX LP (NYSE:MPLX) Q2 2021 Results Conference Call August 4, 2021 9:30 AM ET Company Participants Kristina Kazarian - Vice President-Investor Relations Mike Hennigan - Chairman, President & Chief Executive Officer Pam Beall - Chief Financial Officer Greg Floerke - Executive Vice President & Chief Operating Officer Timothy Aydt - Executive Vice President and Chief Commercial Officer Conference Call Participants John Mackay - Goldman Sachs Jeremy Tonet - JPMorgan Shneur Gershuni - UBS Spiro Dounis - Credit S ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _____________________________________________ FORM 10-Q ____________________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-35714 MPLX LP (Exact ...

Financial Performance - Adjusted EBITDA for Q2 2021 was $1374 million, compared to $1227 million in Q2 2020[22] - Distributable cash flow (DCF) attributable to MPLX LP was $1250 million in Q2 2021, up from $1027 million in Q2 2020[24] - Distribution coverage ratio increased to 173x in Q2 2021 from 139x in Q2 2020[23] - MPLX generated excess cash flow of $481 million in Q2 2021, a significant improvement from a deficit of $61 million in Q2 2020[23] - The company repurchased $155 million worth of units in Q2 2021[23] Segment Performance - Logistics & Storage (L&S) adjusted EBITDA increased from $839 million in Q2 2020 to $947 million in Q2 2021, driven by higher throughput and lower operating expenses[16] - Gathering & Processing (G&P) adjusted EBITDA increased from $388 million in Q2 2020 to $427 million in Q2 2021, benefiting from higher NGL prices and lower operating expenses[20] - Gathering volumes decreased by 8% to 51 Bcf/d, while processing volumes decreased by 1% to 84 Bcf/d compared to Q2 2020[18] Sustainability Initiatives - MPLX is targeting a 50% reduction in midstream methane emissions intensity by 2025 from 2016 levels[10] - The company is also aiming to reduce freshwater withdrawal intensity by 20% by 2030 from 2016 levels[12] Balance Sheet - MPLX's leverage ratio decreased to 37x as of June 30, 2021, compared to 39x at the end of 2020[26] - The company has $35 billion remaining capacity available under a $35 billion revolving credit agreement[26]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION (Exact name of registrant as specified in its charter) _____________________________________________ Washington, D.C. 20549 _____________________________________________ FORM 10-Q ____________________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES ...

1 First Quarter 2021 Earnings Conference Call May 4, 2021 Forward‐Looking Statements This presentation contains forward-looking statements within the meaning of federal securities laws regarding MPLX LP (MPLX). These forward-looking statements relate to, among other things, MPLX's expectations, estimates and projections concerning the business and operations, financial priorities and strategic plans of MPLX. You can identify forward-looking statements by words such as "anticipate," "believe," "commitment," ...

MPLX LP (NYSE:MPLX) Q1 2021 Earnings Conference Call May 4, 2021 9:30 AM ET Company Participants Kristina Kazarian - Vice President-Investor Relations Mike Hennigan - Chairman, President & Chief Executive Officer Pam Beall - Chief Financial Officer Greg Floerke - Executive Vice President & Chief Operating Officer Conference Call Participants John Mackay - Goldman Sachs Spiro Dounis - Credit Suisse Michael Blum - Wells Fargo Keith Stanley - Wolfe Research Operator Welcome to the MPLX First Quarter 2021 Earni ...