A prepositional phrase is a group of words that begins with a preposition and ends with a noun or pronoun (called the object of the preposition). The sentence only contains the verb "rationed" and its objects "supplies."
Let's break down the sentence:
* The settlers: This is the subject of the sentence, telling us who performed the action.
* rationed: This is the verb, describing the action.
* their supplies: This is the direct object of the verb, telling us what was rationed.
There is no preposition (like "of," "in," "on," "to," etc.) that introduces a phrase modifying any of these elements.