WHY?

Well! At least it's not palm oil.
I know it's possible to buy it with NO added oil of any type.  
I could understand, but not condone, adding a cheaper oil to reduce costs, but why marmalise more peanuts for peanut oil? 

I am aware that one of us regards it as a waste of good peanuts; I, on the other hand, regard it as a waste of Marmite© on account of there's not quite enough in it.

Considering that there'll, probably, not be a lot of tocopherol or vitamins and the given %s add up to 96.5% there's close to 3.5% of P-nut oil.

BTW
Peanuts float in peanut butter.  If I eat by spoon (Preferred technique) from the top, un-stirred, I'm left with almost smooth peanut butter.