2018 Guide to Effective Proxies

6 TH EDITION | GUIDE TO EFFECTIVE PROXIES 86 MARATHON PETROLEUM CORPORATION I naddition,MPCannuallypu b lishesits CitizenshipReport ( w hatmany c ompaniesre f ertoasasustaina b ilityreport),dis c losing theCompany ’ sa c hie v ementsandste w ardshipintheareaso f our c ore v alues –H ealthandSa f ety,En v ironmentalSte w ardship, I ntegrity,CorporateCiti z enshipand I n c lusi v eCulture. PAGES6-7 PAGES4-5 MPCCONDUCTS ITSBUSINESS ACCORDINGTOFIVECOREVALUES: • Health&Safety • EnvironmentalStewardship • Integrity • CorporateCitizenship • InclusiveCulture The PerspectivesonClimate-RelatedScenarios report,the CitizenshipReport andour CodeofBusinessConduct c an b e f ound onour w e b siteat http://www.marathonpetroleum.com b ysele c ting “ CorporateCiti z enship ” .Throughthisportiono f our w e b site, ourshareholdersandothersmayalso v isitour “H ealth,En v ironment,Sa f ety & Se c urity ”w e b pages, w hi c hin c lude v oluntary dis c losureso f emissionsdataandenergye ff i c ien c ystatisti c s. N e w H uman R ights and Core V alues Dis c losures on Corporate We b site Ourshareholdersmayalsoa cc essane w ta b onour w e b siteat http://www.marathonpetroleum.com b ysele c ting “ Corporate Citi z enship ” and c li ck ingon “H uman R ightsandCore V alues. ”H ere,shareholders w ill f indalin k toourmostpertinent pu b li c ationsandin f ormationonthetopi c so f humanrightsand c orporate c iti z enship,in c ludingour c ommitmenttothe f air treatmentandmeaning f ulin v ol v emento f allpeople,in c ludingindigenouspeople,regardlesso f ra c e, c olor,nationaloriginor in c omele v el. E x press Commitment to B oard Di v ersity On J anuary2 7 ,2018,the B oardadoptedanamendmenttoourCorporate G o v ernan c ePrin c iplestoe x presslya ff irmits c ommitmenttoa c ti v elysee k initsdire c torre c ruitmente ff orts w omen c andidatesand c andidateso f di v erseethni c andra c ial b a ck grounds w hopossessthes k illsand c hara c teristi c sidenti f ied w ithinourCorporate G o v ernan c ePrin c iples.Thise x press c ommitmentisinadditiontotheemphasisonadi v ersityo f dire c tor b a ck groundsande x perien c esalready f ound w ithinour Corporate G o v ernan c ePrin c iples. MarathonPetroleumCorporationPro x yStatement / page3 Total of 05 pages in section GOVERNANCE HIGHLIGHTS N e w Shareholder R ight to Call a Spe c ial Meeting On J anuary2 7 ,2018,the B oardadoptedanamendmenttoourAmendedand R estated B yla w s( w hi c h w ere f ertoasour B yla w s)e x tendingtoshareholderso w ningintheaggregate25per c ento f MPC ’ soutstanding c ommonsto ck and c omplying w ith otherre q uirementsset f orthinour B yla w stherighttore q uestthattheCompany c allaspe c ialmeetingo f shareholders.The B oard b elie v esthe25per c ento w nershipthresholdstri k estheappropriate b alan c e b et w eenallo w ingshareholdersto v oteon importantmattersthatmayarise b et w eenannualmeetingsandprote c tingagainsttheris k thatasingleshareholderorsmall groupo f shareholders c ould c allaspe c ialmeetingthatser v esonlyanarro w agenda.MPC ’ s25per c ento w nershipthresholdis a c ommonthresholdamonglargepu b li cc ompanieso ff eringshareholdersthisrightandhelpsprote c tshareholderrights w ithout thee x penseandris k asso c iated w ithalo w erspe c ialmeetingthreshold. R esponsi v eness to Ma j ority - Supported Shareholder Proposal Atour201 7 AnnualMeetingo f Shareholders,MPCpla c edonthe b allotanon b inding,shareholder - sponsoredproposal re q uestingthatthe B oardta k ethestepsne c essarytoeliminateea c hshareholder v otingre q uirementinour R estatedCerti f i c ate o fI n c orporationandour B yla w sthat c alls f oragreaterthansimplema j ority v ote.Thisproposalre c ei v edthesupporto f a ma j orityo f the v otes c astatthemeeting.The B oardhasa ck no w ledgedthesupport f ortheproposalase x pressed b your shareholdersandhaspla c edonthe b allot f ortheAnnualMeetingt w o b indingproposalstoaddresssuperma j oritypro v isions w ithinourCerti f i c ate.The B oardhasalso c ommittedtoma k e c on f ormingamendmentstoour B yla w s,asappli c a b le,shouldthe Certi f i c ateamendmentsre c ei v ethere q uisite v ote f orpassage. Pu b lished I naugural R eport : Perspectives on Climate-Related Scenarios: Risks and Opportunities I nO c to b er201 7 ,MPCpu b lishedthe PerspectivesonClimate-RelatedScenarios:RisksandOpportunities reportmodeledon thedis c losuresre c ommended b ytheFinan c ialSta b ility B oard ’ sTas k For c eonClimate - relatedFinan c ialDis c losures(orTCFD) andpro v idingadetailedloo k atour B oard ’ sris k managemento v ersight, c limate - relateds c enarioanalyses,assetoptimi z ation andport f oliomanagement.As c on v eyedinthereport,MPCis w ellpositionedtoremainasu cc ess f ul c ompanyintothe f uture, e v enunderthe c ar b on -c onstrained f uturemodeledinthe I nternationalEnergyAgen c y ’ shypotheti c al450S c enario.MPChas in v ested b illionso f dollarsinenergye ff i c ien c y,emissionsredu c tions,di v ersi f yingour b usinessandhardeningour f a c ilities againste x treme w eathere v ents.Ourre f ineriesareamongthemostenergye ff i c ientin N orthAmeri c a.Our f a c ilitiesha v eearned moreo f the U .S.EPA ’ sE N E RGY STA R a w ardsre c ogni z ingre f ineriesthanallotherre f ining c ompanies c om b ined,and w ealso applythis f o c usonenergye ff i c ien c ytoourtransporttru ck sandourinlandmarine f leet,as w ellastoourresear c he ff orts. page2 / MarathonPetroleumCorporationPro x yStatement Pro x y Summary Thissummaryhighlightsin f ormation c ontainedelse w hereinthePro x yStatement.Thissummarydoesnot c ontainallo f the in f ormationthatyoushould c onsider. Y oushouldreadtheentirePro x yStatement c are f ully b e f ore v oting. 2018 ANNUAL MEETING OF SHAREHOLDERS Date : April25,2018 Time : 10a.m.EDT Pla c e : TheAuditoriumo f MarathonPetroleumCorporation 539SouthMainStreet,Findlay,Ohio45840 R e c ordDate : Fe b ruary2 6 ,2018 V oting : Y ouareentitledto v oteatthemeetingi f you w ereano w nero f re c ordo f MarathonPetroleumCorporation c ommonsto ck atthe c loseo fb usinessonFe b ruary2 6 ,2018. Ownersofrecordwillneedtohaveavalid formofidentificationtobeadmittedtothemeeting.Ifyourownershipisthroughabrokerorother intermediary,then,inadditiontoavalidformofidentification,youwillalsoneedtohaveproofof yourshareownershiptobeadmittedtothemeeting.Arecentaccountstatement,letterorproxy fromyourbrokerorotherintermediarywillsuffice.InordertovoteattheAnnualM eting,ifyouar notanownerofrecord,youmustfirstobtainalegalproxyformfromthebrokerorother organizationthatholdsyourshares.Pleaseseethe“QuestionsandAnswers”sectionofthisProxy Statementformoreinformation. R egardlesso fw hetheryouplantoattendtheAnnualMeeting, w ehopeyou w illauthori z eyourpro x yas soonaspossi b le. Y oumay v ote b ypro x yusingtheinternet.Alternati v ely,i f youre c ei v ethepro x ymaterials b ymail,youmay v ote b ypro x yusingtheinternet, b y c allingatoll -f reetelephonenum b eror b y c ompleting andreturningapro x y c ardor v otinginstru c tion f orminthemail. Y our v ote w illensureyourrepresentationat theAnnualMeeting. MATTERSTO BEVOTEDON ATTHEANNUALMEETING Item Description Page 1 Ele c tiono f Class I Dire c tors BoardRecommendation: FO R ea c hnominee 24 2 R ati f i c ationo fI ndependentAuditor f or2018 BoardRecommendation: FO R 31 3 Appro v al,onanAd v isory B asis,o fN amedE x e c uti v eO ff i c erCompensation BoardRecommendation: FO R 32 4 R e c ommendation,onanAd v isory B asis,o f theFre q uen c yo f anAd v isory V oteonE x e c uti v e Compensation BoardRecommendation: v ote E V E RYY EA R (1 Y ear) 33 5 Appro v alo f Amendmentstoour R estatedCerti f i c ateo fI n c orporationtoEliminatetheSuperma j ority V oting R e q uirementappli c a b leto B yla w Amendments BoardRecommendation: FO R 34,35 6 Appro v alo f Amendmentstoour R estatedCerti f i c ateo fI n c orporationtoEliminatetheSuperma j ority V oting R e q uirementsappli c a b letoCerti f i c ateAmendmentsandthe R emo v alo f Dire c tors BoardRecommendation: FO R 34,3 6 7 ShareholderProposal : Alternati v eShareholder R ighttoCallaSpe c ialMeetingPro v ision BoardRecommendation: A G A IN ST 3 7 MarathonPetroleumCorporationPro x yStatement / page1 MARTIN MARIETTA MATERIALS Corporate Governance Highlights: Creating Sustainable Long-Term Shareholder Value RecentUpdates • Our shareholders have the ability to nominate director candidates and have those nominees included in our proxy statement, subjecttomeetingtherequirementsinourBylaws,ashareholderrightknownas proxyaccess • DeclassifiedBoardphase-incontinues— Directorselectedannually in2017and2018toserveone-yearterms • Adoptionof StockOwnershipGuidelines • Adoptionof HedgingandPledgingPolicy • Adoptionof ClawbackPolicy BoardofDirectors • LeadIndependentDirector • 10Directors/Nominees;9arenon-employees;9areindependent • KeycommitteeChairsareindependent • Executivesessionsofnon-managementDirectorsateachregularly-scheduledmeeting • AllDirectorsattended100%ofallBoardandcommitteemeetingsin2017 • Limitedmembershiponotherpubliccompanyboards • CodeofEthicalBusinessConductandethicsprogramthatreportstoaBoardCommittee • RegularBoardself-assessmentsandDirectorpeerreview • RiskoversightbyfullBoardandCommittees ShareholderInterest • MajorityvotingstandardforuncontestedDirectorelections • Noshareholderrightsplan • Annualadvisoryvotetoratifyindependentauditor • Annualadvisoryvotetoapproveexecutivecompensation • Longstandingactiveshareholderengagement • Wepublishannuallya SustainabilityReport thatdiscussesourcommitmenttoourshareholders,employeesandthecommunities thatweserve BoardComposition Wenominatedforelectionatour2018annualmeetingofshareholdersanewDirectortotheBoardwhohasextensiveexperiencein regulatoryandlegalmatters.Wewererecognizedin2017and2015atthe Women’sForumofNewYork atitsBiennialBreakfastof CorporateChampionsforourBoarddiversity.Wewerealsorecognizedby 2020WomenonBoards asaWinning‘W’Companyfor sevenconsecutiveyears forchampioningboarddiversity. 8 2 men women GENDER 11 YRS.AVG TENURE 5 Less than 1-10 years 4 11-20 years 1 21-30 years 66 YRS.AVG AGE 2 50’s 5 60’s 3 70’s ThesechartsassumethatSmithW.Davisiselectedattheannualmeetingofshareholders. 2018PROXYSTATEMENT 3 Total of 05 pages in section Shareholders Benefit from Martin Marietta’s Record 2017 Performance Recordtotalrevenuesofalmost$4.0billion up3.9% from2016 Recordgrossprofitof$972million up6.6%,anda24.5%grossmargin Recordoperatingearningsof$700million up3.4% RecordnetearningsattributabletoMartinMariettaof$713.4million,an increaseof68% over2016 Recordearningsbeforeinterest,taxes,depreciationandamortization(EBITDA)of $1.004billion ,up3%from2016 Recordearningsattributabletocommonshareholdersperdilutedshareof $11.25 . 2010 2015 2016 2017 $1.8B $3.5B $3.8B $4.0B +3.85% Total Revenues +6.60% 2010 2015 2016 2017 $322M $727M $912M $972M Gross Profit 2010 2015 2016 2017* $97.0M $288.8M $425.4M $713.4M +67.7% Net Earnings 2010 2015 2016 2017 $375M $751M $972M $1,004M +3.37% EBITDA* *ReconciliationofNetEarningsAttributabletoMartinMariettatoEBITDAisincludedinAppendixB. 2 2018PROXYSTATEMENT Proxy Summary This Proxy Summary highlights information about Martin Marietta that can be found elsewhere in this proxy statement. It does ot containalloftheinformationyoushouldconsiderinvotingyourshares.Weencourageyoutoreadtheentireproxystatementformore detailedinformationoneachtopicpriortocastingyourvote.Thisproxystatement,theproxycard,andthenoticeofmeetingarebeing sentcommencingonapproximatelyApril18,2018toshareholdersofrecordonMarch9,2018. 2018 Annual Meeting of Shareholders MeetingDate: May17,2018 Place: 2710WycliffRoad,Raleigh,NC Time: 11:30amET RecordDate: March9,2018 Yourvoteisimportant.YoumayvoteinpersonattheAnnualMeetingorsubmitaproxyovertheinternet.Ifyouhavereceivedapaper copyoftheproxycard(orifyourequestapapercopyofthematerials),youmaysubmitaproxybytelephoneorbymail. ViatheInternet www.voteproxy.com. InPerson AttendtheAnnualMeetingandvoteby ballot. ByTelephone 1-800-PROXIES(1-800-776-9437) in the United States or 1-718-921-8500 fromoutsidetheUnitedStates. ByMail Sign,dateandmailyourproxycardin theenvelopeprovided. Ifyousubmityourproxybytelephoneorovertheinternet,youdonotneedtoreturnyourproxycardbymail. PROPOSALSANDVOTINGRECOMMENDATIONS Proposal Description BoardVotingRecommendation Page 1 ElectionofSevenDirectorNominees FORALLDIRECTORNOMINEES 8 2 Ratificationoftheappointmentof PricewaterhouseCoopersLLPasindependentauditors FOR 27 3 AdvisoryVoteonCompany’sExecutiveCompensation FOR 63 2018PROXYSTATEMENT 1