SECOND QUARTER 2025 Earnings Conference Call August 5, 2025
SECOND QUARTER BUSINESS UPDATE MPLX 2Q 2025 Strong Investing for Committed Performance Growth Return of Capital 1.7 B of Distributions of 2.375 B acquisition Adj. EBITDA 976 MM to accelerates growth unitholders in Delaware…
NORTHWIND MIDSTREAM ACQUISITION MPLX 2Q 2025 FINANCIAL TODAY 2H26 HIGHLIGHTS 2.375 B purchase price Treating 150 Up to 440 Capacity MMcf/d MMcf/d 7x multiple on forecasted 2027 EBITDA Acid Gas 20 37 Injection MMcf/d…
ENHANCING PERMIAN VALUE CHAIN MPLX 2Q 2025 HIGHLIGHTS Supports Permian wellhead-to- water strategy and accelerates Natural Gas & NGL growth Over 200,000 dedicated acres NEW MEXICO 200+ miles of gathering pipelines and up…
PERMIAN NGL VALUE CHAIN MPLX 2Q 2025 VALUE CHAIN Treating Expanding to 440 MMcf/d Gas Processing Plant MPC Galveston Bay Refinery NGL Fractionator Processing LPG Export Terminal Midland Orla 1.4 Bcf/d total capacity(a)…
PERMIAN NATURAL GAS VALUE CHAIN MPLX 2Q 2025 VALUE CHAIN Integrated system Previously announced In-service enhances shipper flexibility TEXAS Midland Provides premium market Waha Rankin access Katy Projects expected to…
2025: DEPLOYING OVER 5B FOR GROWTH(a) MPLX 2Q 2025 NATURAL GAS & NGL SERVICES 2024 2025 (Est. In-Service) 2026+ (Est. In-Service) Utica gathering system expansion(b) Secretariat processing plant Harmon Creek III Harmon Creek II…
LEADING MIDSTREAM OPERATOR MPLX 2Q 2025 Integrated value chains NG & NGLs Over 10% of all provide cash flow natural gas resiliency and a platform produced in the U.S. is handled by for growth MPLX Natural Gas & NGL…
CRUDE OIL AND PRODUCTS LOGISTICS MPLX 2Q 2025 KEY DRIVERS 39 1,138 1,099 Higher rates and throughputs Partially offset by higher operating expenses OPERATING STATS - 2Q25 Volume vs. (MMbpd) 2Q24 Crude Oil Pipelines…
NATURAL GAS AND NGL SERVICES MPLX 2Q 2025 KEY DRIVERS Growth from equity affiliates 554 552 -2 Offset by higher operating expenses and project spending OPERATING STATS - 2Q25(a) Volume vs. 2Q24 Gathering 6.6 Bcf/d…
FINANCIAL PRIORITIES MPLX 2Q 2025 MAINTENANCE Maintain safety and reliability of 1 CAPITAL our assets BASE 2 Primary return of capital tool DISTRIBUTIONS GROWTH 3 Disciplined growth opportunities CAPITAL INCREMENTAL 4…
SUSTAINABILITY HIGHLIGHTS MPLX 2Q 2025 PUBLISHED LATEST PERSPECTIVES ON CLIMATE- METHANE EMISSIONS BIODIVERSITY RELATED SCENARIOS AND SUSTAINABILITY REPORTS INTENSITY TARGET RIGHT-OF-WAY TARGET CONTINUING TO DRIVE ENERGY 2030…
2025: COMMITTED TO CREATING MPLX 2Q 2025 EXCEPTIONAL VALUE Targeting Mid-Single Digit Growth: Expanding integrated Permian natural gas and NGL value chains Building on significant Marcellus footprint Compelling Driving higher…
MPLX 2Q 2025 17 APPENDIX
STRONG BALANCE SHEET MPLX 2Q 2025 CONSOLIDATED TOTAL DEBT TO DEBT MATURITIES - THROUGH 2030 LTM ADJUSTED EBITDA APPENDIX Millions (unless otherwise noted) YE23 YE24 2Q25 Consolidated Total Debt(a) 20,706 21,206 21,507 LTM…
MPLX 2Q 2025 NATURAL GAS AND NGL SERVICES SEGMENT 2Q25 PROCESSED VOLUMES(a) Capacity at End Average Utilization of Area of Quarter Volume Available Capacity (MMcf/d) (MMcf/d) (%) Marcellus 6,520 6,019 92% APPENDIX Utica 1,325…
RECONCILIATION OF ADJUSTED EBITDA AND MPLX 2Q 2025 DISTRIBUTABLE CASH FLOW FROM NET INCOME Millions 2Q 2025 2Q 2024 FY 2024 FY 2023 FY 2022 FY 2021 Net income 1,058 1,186 4,357 3,966 3,978 3,112 Provision for income taxes 1 2 10…
RECONCILIATION OF ADJUSTED EBITDA AND MPLX 2Q 2025 DISTRIBUTABLE CASH FLOW AND NET CASH PROVIDED BY OPERATING ACTIVITIES Millions 2Q 2025 2Q 2024 FY 2024 FY 2023 FY 2022 FY 2021 Net cash provided by operating activities 1,736 1,565…
RECONCILIATION OF SEGMENT ADJUSTED EBITDA TO NET MPLX 2Q 2025 INCOME Millions 2Q 2025 2Q 2024 Crude Oil and Products Logistics segment adjusted EBITDA attributable to MPLX LP 1,138 1,099 Natural Gas and NGL Services segment…
RECONCILIATION OF NET CASH PROVIDED BY OPERATING MPLX 2Q 2025 ACTIVITIES TO ADJUSTED FREE CASH FLOW (FCF) AND ADJUSTED FCF AFTER DISTRIBUTIONS Millions 2Q 2025 2Q 2024 APPENDIX Net cash provided by operating activities…
RECONCILIATION OF LTM NET INCOME TO LTM ADJUSTED MPLX 2Q 2025 EBITDA Millions 2Q 2025 FY 2024 FY 2023 LTM Net income 4,350 4,357 3,966 Provision for income taxes 9 10 11 Net interest and other financial costs 918 921 923…
CAPITAL EXPENDITURES MPLX 2Q 2025 Millions 2Q 2025 2Q 2024 YTD 2Q YTD 2Q 2025 2024 Capital Expenditures Growth capital expenditures 286 156 506 321 Growth capital reimbursements (37) (29) (64) (50) Investments in unconsolidated…
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