Update on Strategic Actions to Enhance Shareholder Value January 3, 2017
Update on Strategic Actions to Enhance Shareholder Value 1) 1 Significantly accelerated dropdowns, to be done as soon as practicable (expected in 2017), subject to requisite approvals and regulatory clearances, including tax MPC…
1 MPC to Dropdown All 1.4 Billion MLP-Qualifying EBITDA to MPLX As Soon As Practicable (Expected in 2017) MPC expects to dropdown assets generating 1.4 billion of MLP-eligible annual EBITDA to MPLX as soon as practicable (expected in…
1 All Dropdowns Expected to Be Done by End of 2017 Dropdown of 250 million of annual EBITDA expected to close in first quarter 2017 Dropdown of 350 million of annual EBITDA expected to close by the end of fourth quarter 2017…
2 MPC Expects to Offer IDRs to MPLX in Exchange for MPLX LP Units in 2017 With the assistance of independent financial advisors, MPC completed its initial evaluation of strategic alternatives to highlight and capture the value of its…
1 2 Strategic Actions to Enhance Shareholder Value Significant Cash to MPC for Return to Shareholders and Debt Paydown Dropdown transactions will result in a substantial amount of cash to MPC at close; additional cash would be…
1 2 Strategic Actions to Enhance Shareholder Value Significant Value to MPLX The combination of dropdowns and GP/IDR buy-in is anticipated to lower MPLXs cost of capital going forward Dropdowns enhance distribution growth GP/IDR…
1 2 Strategic Actions to Enhance Shareholder Value Total Midstream Value to MPC After Strategic Plan After dropping assets and converting the IDRs to LP units, MPC would have 21 - 26 billion of midstream value held either in cash or…
3 MPC Will Conduct Full and Thorough Review of Speedway In keeping with MPCs practice of evaluating shareholder value creation, an MPC Board special committee will conduct a full and thorough review of Speedways strategic and…
Consistent with Its Demonstrated Track Record, MPC Continues Its Focus on Long-Term Value Creation MPC and its Board of Directors continually analyze opportunities to enhance value and are confident that the MPC plan is the right course…
MPC has an Extensive Suite of MLP-Qualifying Assets 1.4 Billion of Estimated Annual EBITDA 5,400 miles of additional pipelines (owns, leases or has an ownership interest) Equity in 50/50 blue water JV with Crowley 61 light…
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