Marathon Petroleum Corp

9. Segment Information

We have three reportable segments: Refining & Marketing, Midstream and Renewable Diesel. Each of these segments is organized and managed based upon the nature of the products and services it offers.

•Refining & Marketing – refines crude oil and other feedstocks at our refineries in the Gulf Coast, Mid-Continent and West Coast regions of the United States, purchases refined products and ethanol for resale and distributes refined products through transportation, storage, distribution and marketing services provided largely by our Midstream segment. We sell refined products to wholesale marketing customers domestically and internationally, to buyers on the spot market, to independent entrepreneurs who operate primarily Marathon® branded outlets and through long-term fuel supply contracts with direct dealers who operate locations mainly under the ARCO® brand.

•Midstream – gathers, transports, stores and distributes crude oil, refined products, including renewable diesel, and other hydrocarbon-based products principally for the Refining & Marketing segment via refining logistics assets, pipelines, terminals, towboats and barges; gathers, processes and transports natural gas; and transports, fractionates, stores and markets NGLs. The Midstream segment primarily reflects the results of MPLX.

•Renewable Diesel – processes renewable feedstocks into renewable diesel, markets renewable diesel and distributes renewable products through our Midstream segment and third parties. We sell renewable diesel to wholesale marketing customers, to buyers on the spot market and through long-term supply contracts with direct dealers who operate locations mainly under the ARCO® brand.

Our chief operating decision maker (“CODM”) evaluates the performance of our segments using segment adjusted EBITDA. Our CODM is our chief executive officer. The CODM uses adjusted EBITDA by segment results when making decisions about allocating capital and personnel as part of the annual business plan process and ongoing monitoring of performance. Amounts included in income before income taxes and excluded from adjusted EBITDA include: (i) depreciation and amortization; (ii) net interest and other financial costs; (iii) turnaround expenses; and (iv) other adjustments as deemed necessary. These items are either: (i) believed to be non-recurring in nature; (ii) not believed to be allocable or controlled by the segment; or (iii) not tied to the operational performance of the segment. Assets by segment are not a measure used to assess the performance of the company by the CODM and thus are not reported in our disclosures.

(a)Represents MPC’s pro-rata share of expenses from joint ventures included in the Renewable Diesel segment.

(b)The three and nine months ended September 30, 2025 includes gains from the BANGL Acquisition and the sale of MPC’s interest in TAMH. The nine months ended September 30, 2024 includes the gain from the Whistler Joint Venture Transaction (as defined in Note 4). See Note 4 for additional information.

(c)Transaction-related costs include costs associated with significant transactions discussed in Note 4.

(a)Includes sales to related parties. See Note 6 for additional information. See Note 17 for the disaggregation of our revenue from external customers by segment and product line.

(a)The three and nine months ended September 30, 2025 includes gains from the BANGL Acquisition and the sale of MPC’s interest in TAMH. The nine months ended September 30, 2024 represents the gain from the Whistler Joint Venture Transaction. See Note 4 for additional information.

(a)Other segment items for the Refining & Marketing segment include costs that are reimbursed by customers through commercial arrangements, as well as LIFO inventory adjustments.

(b)Other segment items for the Midstream segment include operating expenses and purchased product costs. For purposes of managing the Midstream segment, the CODM is only provided consolidated Midstream expense information.

(c)Other segment items for the Renewable Diesel segment include purchased product costs.

(a)Excludes our pro-rata share of Renewable Diesel JV depreciation and amortization of $22 million, $22 million, $67 million and $67 million in the three months ended September 30, 2025 and 2024 and nine months ended September 30, 2025 and 2024, respectively, which was adjusted for purposes of arriving at Renewable Diesel segment adjusted EBITDA.

(a)Includes changes in capital expenditure accruals. See Note 18 for a reconciliation of total capital expenditures to additions to property, plant and equipment for the nine months ended September 30, 2025 and 2024 as reported in the consolidated statements of cash flows.