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2016-07-22

MPLX LP: MPLX LP increases quarterly distribution

FINDLAY, Ohio, July 22, 2016 - MPLX LP (NYSE: MPLX) today announced that the
board of directors of its general partner has declared a cash distribution of
$0.51 per common unit for the second quarter of 2016. This represents an
increase of $0.005 per unit, or 1 percent, over the first-quarter 2016
distribution and an increase of $0.07 per unit, or 16 percent, over the
second-quarter 2015 distribution. Since the partnership's initial public
offering in October 2012, the MPLX board has authorized distribution
increases for 14 consecutive quarters, representing a compound annual growth
rate of 21 percent over the minimum quarterly distribution established at the
partnership's formation. The distribution will be paid Aug. 12, 2016, to
unitholders of record as of Aug. 2, 2016.

On July 28, MPLX will provide an update on its 2016 second-quarter results
through an earnings release, to be followed by a conference call scheduled
for 11 a.m. EDT that day. Interested parties may listen to the conference
call by dialing 1-800-446-1671 (confirmation number 42834145) or by visiting
MPLX's website at http://www.mplx.com and clicking on the "2016
Second-Quarter Financial Results" link in the "News&Headlines" section.

This release is intended to be a qualified notice under Treasury Regulation
Section 1.1446-4(b). Brokers and nominees should treat 100 percent of MPLX's
distributions to foreign investors as being attributable to income that is
effectively connected with a United States trade or business. Accordingly,
MPLX's distributions to non-United States investors are subject to federal
income tax withholding at the highest applicable effective tax rate.

###

About MPLX LP

MPLX is a diversified, growth-oriented master limited partnership formed in
2012 by Marathon Petroleum Corporation to own, operate, develop and acquire
midstream energy infrastructure assets. We are engaged in the gathering,
processing and transportation of natural gas; the gathering, transportation,
fractionation, storage and marketing of natural gas liquids (NGLs); and the
transportation and storage of crude oil and refined petroleum products.
Headquartered in Findlay, Ohio, MPLX's assets consist of a network of common
carrier crude oil and products pipeline assets located in the Midwest and
Gulf Coast regions of the United States, an inland marine business, a butane
storage cavern located in West Virginia with approximately 1 million barrels
of storage capacity, crude oil and product storage facilities (tank farms)
with approximately 4.5 million barrels of available storage capacity, a barge
dock facility with approximately 78,000 barrels per day of crude oil and
product throughput capacity, and gathering and processing assets that include
more than 5,000 miles of gas gathering and NGL pipelines, 54 gas processing
plants, 13 NGL fractionation facilities and two condensate stabilization
facilities.

Investor Relations Contacts:

Lisa D. Wilson (419) 421-2071
Teresa Homan (419) 421-2965
Kevin Hawkins (866) 858-0482

Media Contacts:

Chuck Rice (419) 421-2521
Jamal Kheiry (419) 421-3312

MPLX 2Q 2016 Distribution
http://hugin.info/155038/R/2030190/755105.pdf

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: MPLX LP via Globenewswire

HUG#2030190

Författare Hugin

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