Shareholder Services

Dividends on common stock, as declared by the Board of Directors, are normally paid on the 10th day of March, June, September and December.

Form 1099-DIV will be mailed by Computershare no later than January 31 to stockholders that were paid at least $10.00 in dividends the previous year.

If you do not receive your dividend check on the appropriate payment date, we suggest that you wait at least 10 days after the payment date to allow for any delay in mail delivery. After that time, advise Computershare to issue a replacement check. You may contact Computershare to authorize electronic deposit of your dividends or interest into your bank account.

Marathon Oil is committed to serving its shareholders. Shares can be purchased through a Direct Stock Purchase and Dividend Reinvestment Plan sponsored and administered by Computershare Trust Company, N.A. Details about the Computershare Investment Plan, including any fees associated with the Plan, can viewed and printed from Computershare's website or by contacting Computershare at 1-888-843-5542.

Comprehensive and consolidated financial statements (SEC Forms 10-K, 10-Q, and 8K) are available online at the SEC's Edgar Database. Click here to see the Annual Report.

It is important that you notify Computershare immediately when you change your address. As a convenience, you also may make your address change online via Computershare's Investor Centre™.

Federal law requires that each stockholder provide a certified Taxpayer Identification Number (TIN) for his/her stockholder account. For individual stockholders, your TIN is your Social Security Number. If you do not provide a certified TIN, Computershare may be required to withhold 28 percent from your dividend payments for federal income taxes.

If you have not done so, we recommend that you return any USX Corporation or United States Steel Corporation common stock certificates, which were issued prior to May 7, 1991, in exchange for shares of Marathon Oil Corporation common stock. Certificates should be sent to Computershare. Since Marathon Oil Corporation does not issue stock certificates, your Marathon Oil Corporation shares will be put in direct registration in your account at Computershare. Computershare will send to you a Direct Registration Statement reflecting your shares of Marathon Oil Corporation in your account.

If a stock certificate is lost, stolen, or destroyed, notify Computershare so that a "stop transfer" can be placed on the missing certificate. Computershare will send you the necessary forms and instructions for obtaining a replacement which will be issued in direct registration form. You may be required to obtain and pay for the cost of an indemnity bond. If you find the missing certificate, notify Computershare immediately so that the stop transfer can be removed. To avoid loss, theft, or destruction, we recommend that you keep your certificates in a safe place, such as a safe deposit box at your bank.

PricewaterhouseCoopers LLP
1000 Louisiana Street, Suite 5800
Houston, TX 77002-5021

If the property owner can't be found (i.e. multiple pieces of returned mail) or hasn’t demonstrated an interest in the asset (i.e. voting the annual proxy statement or contacting the bank/broker/transfer agent on a regular basis), the U.S. state where the holder lives can take custody of those belongings. In the case of Marathon Oil (MRO) common stock and a foreign shareholder, the stock would be escheated to our state of incorporation (Delaware).

Escheatable property varies by state and includes a wide range of assets. These assets include (but aren't limited to) dividend checks and underlying shares of common or preferred stock, uncashed wage and expense checks, insurance claims, premiums or payments, and bonds or mutual fund, bank or other accounts for which the issuer doesn't have the holder's current address. Once the state considers these assets abandoned over a specified period of time, they must be turned over. This FAQ focuses on your MRO common stock.

Each state sets its own rules and time frames in its definition of what constitutes unclaimed property. The key element is the definition of ‘dormancy,’ which is the period of time that an asset, payment, receivable or other instrument can remain inactive before it can be considered unclaimed. During this period, which typically ranges from three to seven years, a company must take steps to locate the owner of the asset. If it's unable to do so, it must hand the asset over to the relevant government entity.

All states require a ‘due diligence’ mailing to a shareholder before final escheatment, but many states require a mailing only if the value of the assets is $50 or more.

In theory, property turned over to the state can always be reclaimed by the rightful owner, but some states immediately liquidate equities and other asset classes to get their immediate cash value. In these states, the holder is only entitled to reclaim the net proceeds of the sale price at the time of the sale, which could mean big losses for holders whose stocks are down and who bank on holding them for the long term.

First and foremost, be sure to update your address with your financial institution (bank, broker or transfer agent for paper certificates). Contact the applicable institution at least once per year, whether it be by accessing your password-protected account online, calling into the customer service center, writing the financial institution or transfer agent, cashing your dividend checks, updating your address, changing a beneficiary, buying shares or voting a proxy.

If you receive a notice alerting you that your account is considered ‘inactive’ or ‘abandoned,’ respond immediately. Some third parties such as Keane and Georgeson may contact you, providing assistance in helping to re-activate your account, but you always have the option of handling this directly with your financial institution or Marathon Oil’s transfer agent, wherever your shares are held.

The following links are good resources to help you begin your search for unclaimed property:

https://www.usa.gov/unclaimed-money

https://unclaimed.org/search/

Effective June 30, 2011, Marathon Oil Corporation completed the spin-off of its wholly owned subsidiary, Marathon Petroleum Corporation into a separate independent publicly traded corporation to holders of record of Marathon Oil Corporation common stock on June 27, 2011.

Additional general information about the spin-off and related transactions may be found in the Information Statement distributed to Marathon Oil shareholders in advance of the spin-off. See pages 1 through 5 of the Information Statement for Questions and Answers about the spin-off. Cost basis information related to the spin-off.

On June 30, 2011, Marathon Oil Corporation spun off its wholly-owned subsidiary, Marathon Petroleum Corporation. The holders of Marathon Oil Corporation common stock received one share of Marathon Petroleum Corporation common stock for every two shares of Marathon Oil Corporation common stock held on June 27, 2011.

General information about the transaction may be found in the Information Circular (PDF 5.9MB) distributed by Western in advance of the shareholder meeting at which the transaction was approved.

Under the Plan, shareholders of Western were entitled to receive, subject to proration, either:

(a) Cdn$35.50 in cash (see note below on proration);

(b) 0.5932 of a share of Marathon common stock (each, a "Marathon Share");

(c) 0.5932 of an exchangeable share of 1339971 Alberta Ltd. (each, an "Exchangeable Share"); or

(d) a combination thereof.

Under the Plan, the maximum amount of cash to be paid to Western shareholders was Cdn$3.8 billion. However, Western shareholders elected to receive a cash amount greater than the Cdn$3.8 billion available. As a result, the cash paid was prorated, and shareholders received approximately 86 percent of the cash amount that they elected.

Shareholders who did not make an affirmative election received approximately 55 percent cash and 45 percent Marathon shares (after proration).

As part of the Plan, Western shareholders also received for each Class A share held, one common share and one-tenth of a common share purchase warrant of WesternZagros Resources Ltd. ("WesternZagros"), a new international exploration company that is carrying on Western''s former business in the Kurdistan Region of Iraq. Each whole warrant of WesternZagros may be exercised to purchase one common share of WesternZagros until January 18, 2008 at an exercise price of Cdn$2.50. For questions about these securities, please contact WesternZagros.

For individual shareholder information, you may contact Valiant Trust Company at the following numbers:

+1 403-781-8773
+1 403-781-8760
+1 403-781-8770

General information about the tax consequences of the transaction for individual shareholders may be found in the Information Circular (PDF 5.9MB). Information about certain Canadian federal income tax considerations begins on page 74. Information about certain U.S. federal income tax considerations begins on page 87.

All former Western shareholders are encouraged to consult their personal tax advisors regarding individual tax consequences.

This notice is required to be sent to all former Western shareholders under U.S. tax regulations. The notice informs former Western shareholders that it is possible that the IRS may challenge certain tax positions taken by Western under the passive foreign investment corporation ("PFIC") rules, which could impact the personal tax consequences for Western shareholders. All former Western shareholders are urged to consult their own tax advisors regarding these complex rules.

As described above, as part of the transaction Western shareholders could elect to receive exchangeable shares and certain ancillary rights of 1339971 Alberta Ltd., which are exchangeable for common shares of Marathon Oil Corporation. More information about the exchangeable shares may be found beginning on page 41 of the Information Circular (PDF 5.9MB).

For information about exchanging these shares for common shares, you may contact Valiant Trust Company at the following numbers:

+1 403-781-8773
+1 403-781-8760
+1 403-781-8770

Holders of exchangeable shares will not receive cash dividends. In lieu of cash dividends, the exchange ratio will be adjusted when dividends are paid to Marathon Oil common shareholders.