Transparency

Marathon endorses transparency in revenue flows from oil and gas production and supports initiatives that promote publication of oil and gas revenues by producing countries. The Company practices openness in all business dealings, accessibility of records and fiscal responsibility. Marathon recognizes that revenue transparency requires cooperation among oil and gas producing countries and companies and encourages dialogue on revenue reporting issues among all parties. The resulting transparency and accountability can provide the foundation for good governance and sustainable development. Within its sphere of influence and where permitted by contracts, Marathon strives for financial transparency.

The Extractive Industries Transparency Initiative (EITI) was launched at the World Summit on Sustainable Development in 2002. Marathon supports this voluntary initiative to ensure that revenues from extractive industries contribute to sustainable development and the reduction of poverty. EITI encourages governments, extractive companies, international organizations, non-governmental organizations and others to work together voluntarily to develop a framework that promotes transparency of payments and revenues via aggregated reporting.

Equatorial Guinea and Gabon, nations where Marathon has operations, have signed onto EITI. Marathon has worked with the governments of these two countries and with other oil companies operating in these locations toward the implementation of EITI principles, including full disclosure of revenues. Marathon remains actively engaged in these and other efforts to encourage transparency as a means of improving governance in resource rich countries.