OK, pulled the 2 exhaust elbows off (V6). Found shutter assemblies on both sides well toasted. The good thing is that all the parts are accounted for. The other 3 metal plates were there. All the rubber coating was blistered so I need new shutters.
Thanks and pardon my ignorance. I'm new at this boat stuff. I'm more of a classic muscle car guy, so I am sort of out of my realm, but I'm learning.