1. Anchorage Chamber May 18, 2009

2. 2 Who We Are  > 120 years in business  4 th largest US integrated energy company –Strong Upstream growth –5 th largest US refiner –Expertise across energy chain –Technology enabled  Focused on profitable growth

3. 3 Exploration Production / Devel Integrated Gas Refineries Oil Sands Mining Global Operations

4. 4 Cook Inlet Natural Gas Production 1958-2026 Source DNR Division of Oil/Gas Website Current Actual 88 BCF/yr DNR est Utility Demand 2006

5. 5 CI Natural Gas Production by Vintage Source: AOGCC Database

6. 6 CI Natural Gas Production by Vintage Source AOGCC Database

7. 7 CI Natural Gas Production by Vintage – Marathon WI Source AOGCC Database

8. 8 CI Natural Gas Production by Vintage by Company WI Source AOGCC Database Conoco Marathon Chevron Others

9. 9 Current Levels of activity not enough to offset decline in deliverability Total CI Natural Gas Production AOGCC Database and DNR forecast

10. 10 CI Average Working Interest Production (Oct-Dec 2008) Source AOGCC Database

11. 11 Cook Inlet New Gas Wells Source AOGCC Database

12. 12 CI Natural Gas New Wells & Completions (2005 – 2009) Source AOGCC Database

13. 13 CI Natural Gas By Working Interest New Wells & Completions (2005 – 2009) Source AOGCC Database

14. 14 Marathon’s Activities in Cook Inlet  Drilled/Participated in 76% of the Cook Inlet gas wells drilled since 2005  Serviced roughly 35% of the utility demand, including the Department of Defense  Built a fit-for-purpose rig for drilling in Cook Inlet  Developed proprietary storage in Cook Inlet to service contracts  Built a first-class grind and inject facility to handle drilling solids and produced fluids  Developed the patented EXCAPE technology  Made significant contributions to the communities in which we operate