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ADM, Marathon Petroleum Corp. Green Bison Production Facility Begins Operations

FINDLAY, Ohio and CHICAGO, Nov. 14, 2023 – ADM (NYSE: ADM) and  Marathon Petroleum Corp. (NYSE: MPC) today celebrated the opening of their  joint venture soybean processing complex, Green Bison Soy Processing, with a  ribbon-cutting ceremony. The Green Bison facility in Spiritwood is North  Dakota’s first dedicated soybean processing complex, and is a major step  towards meeting increased demand for renewable fuels, in this case renewable green diesel. 

Green Bison Soy Processing will source and process local soybeans, with the  resulting oil supplied exclusively to Marathon as a feedstock for renewable fuels. The facility will produce approximately 600 million pounds of refined soybean oil annually, enough feedstock for approximately 75 million gallons  of renewable green diesel per year. The approximately $350 million complex features state-of-the-art automation technology and has the capacity to  process 150,000 bushels of soybeans per day. Green Bison Soy Processing  began receiving soybeans in September of 2023 and is in the commissioning  and startup phase of processing soybeans for meal and oil. 

“Sustainability is one of the enduring trends driving changes in structural  global demand, and this investment helps position ADM, as a leader in our  industry, to deliver on that demand,” said Greg Morris, president of ADM’s Ag  Services & Oilseeds business. “The continued growth in demand for  renewable green diesel presents a transformative opportunity for the oilseed  industry, for producers, and for increasing the sustainability footprint of our transportation system, and we’re proud to join with Marathon Petroleum as  leaders in that transformation. We’re excited for the start of production and  look forward to working together to support sustainable solutions for the  food and fuel industries.” 

“As we continue challenging ourselves to lead in sustainable energy, our joint  venture with ADM not only strengthens our presence in North Dakota, but  also gives us the opportunity to collaborate further with a world-class partner  as we continue investing in a sustainable, energy-diverse future,” said Dave  Heppner, Marathon’s senior vice president of Strategy and Business  Development. “Green Bison Soy Processing’s Spiritwood facility is an  important milestone in our ability to source and optimize logistically  advantaged feedstock for our growing renewable fuels business.” 

Adding a continuous economic impact in various aspects, the new complex  has supported hundreds of jobs in the region and currently employs approximately 75 people.

Additionally, Green Bison Soy Processing was recognized by the Economic  Development Association of North Dakota as the 2023 Economic Development Project of the Year announced in September of 2023. The  award recognizes an organization that has worked to positively impact the  economic health of the community, region or state. 

“The Green Bison Soy Processing facility creates a wonderful opportunity and  lasting benefits for our area farmers and statewide soybean growers. Having  two of the most important components of North Dakota’s economy,  agriculture and energy, coming together on a project like this is a significant  benefit to the city of Jamestown and the surrounding communities,” said  Dwaine Heinrich, mayor of Jamestown, North Dakota. “While this facility  provides added value for our farmers, it is also a significant investment to the  community of Spiritwood through job creation. We are very appreciative to  ADM and Marathon for their collaboration to make this project possible.” 

Forward-Looking Statements 

Some of the above statements constitute forward-looking statements. ADM  and Marathon’s respective filings with the SEC provide detailed information  on such statements and risks and should be consulted along with this release.  To the extent permitted under applicable law, neither ADM nor Marathon  assume any obligation to update any forward-looking statements. 

About ADM 

ADM unlocks the power of nature to enrich the quality of life. We’re a  premier global human and animal nutrition company, delivering solutions  today with an eye to the future. We’re blazing new trails in health and well being as our scientists develop groundbreaking products to support healthier  living. We’re a cutting-edge innovator leading the way to a new future of  plant-based consumer and industrial solutions to replace petroleum-based  products. We’re an unmatched agricultural supply chain manager and  processor, providing food security by connecting local needs with global  capabilities. And we’re a leader in sustainability, scaling across entire value  chains to help decarbonize our industry and safeguard our planet. From the  seed of the idea to the outcome of the solution, we give customers an edge in  solving the nutritional and sustainability challenges of today and tomorrow.  Learn more at www.adm.com. 

About Marathon Petroleum Corporation 

Marathon Petroleum Corporation (MPC) is a leading, integrated, downstream  energy company headquartered in Findlay, Ohio. The company operates the  nation’s largest refining system. Marathon’s marketing system includes  branded locations across the United States, including Marathon brand retail  outlets. Marathon also owns the general partner and majority limited partner  interest in MPLX LP, a midstream company that owns and operates gathering,  processing, and fractionation assets, as well as crude oil and light product  transportation and logistics infrastructure. More information is available at  www.marathonpetroleum.com

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