sign in sign up
<<
Home , Bayway Refinery, Humber Refinery, Phillips 66, Wood River Refinery

Cover Photo: Taft Storage Facility at Gray Oak Pipeline TAFT, TX

Contents

3 4 5

OUR BUSINESSES OUR STRATEGY

Ferndale Ferndale Rail Terminal* Renton North Spokane Tacoma (MT) Yellowstone Cut Bank Moses Lake Thompson 17Falls Rail 24 14 Spokane Terminal Palermo* UROPE DLE EA Portland D Great Falls E I ST Portland (MT) Missoula Rail Terminal M Yello Glacier Sacagawea* Missoula wsto Helena Roundup Keene CDP* ne Billings Crude* Bozeman Billings Billings Humber SPCo & S-Chem ooth Sheridan*

Semino Bakk Beart en Bayway MiRO CHEMICALS REFINING * MARKETING AND SPECIALTIES Bighorn e* Linden* Q-Chem I & II Casper* Tremley Pt. (MT)* * Po

Rock Springs wd Bayway Rail

eminoe er Ri Terminal* S Harbor

Red Line Oil North Salt Lake Pioneer ve Des Moines

s r Sacramento Rockies Expr Hartford Lincoln ess Line 20 ess Richmond (MT) Rockies Expr San Francisco Denver Borg Conway City* Po

0 Rockies Expres to Wichita wd Paola er-Den Gold Line* Wood River er Riv Wichita N.* Products* HeartlandPaola* Blue Line 0 Wichita S.* E. St. ver Je erson City* Junction er Louis* Southern Hills* m Cherokee North* r*Hartford* Line 30 re Line 40 ol Standish* La Junta * h Ponca City* Explo

his Ponca City ld Line Go C Crude* 0 Los Angeles Medford* eeMount Vernon* ok t Los Angeles Borger CherEas Torrance Cherokee Colton Borger to Amarillo* Blue LineSouth* Glenpool* Ponca Selmer Line O* * CushPo* Albuquerque* K PL Sk AC ATA Line* elly ST Cushing City SA City* Amarillo* -Belvieu Los Angeles AL Borger Oklahoma Crude*

* Explor Wichita Falls* Lubbock* Savannah North Southern Hills*er Bakken*

Crude * Gathering* West Texas Odessa* Crude S Gathering* ke Excel Base Oil lly Wink -Belvi LLakake CCharlesharles Crane Sweeny Lake Charles Line EZ eu Coke Handling Orange Sand Hills* AAllianclliance Eagle Ford Riivvev r Pari Crude er Par LCPL Westlake risishsh Gr Gathering* SorrSorreentntoo Cavernerns* * Storage ay Oak* s** Helena Cedar Beaumont Bayou Lake Central Pasadena Charles Junction SouthSSoouth Texxaass Gattewayeway** Taft Bayou Bridge* Sweeny/ Gulf Coast Old Ocean CRMT Pecan Grove Sweeny Port Arthur GCF Pasadena Freeport C2G* San Bernard Clemens Caverns* Jones Creek 27 28 Sweeny 1*, 2, 3 29

ENERGY & INNOVATION GLOBAL ASSET MAP GENERAL INFORMATION

PHILLIPS 66 2020 FACT BOOK 2 OUR BUSINESSES OUR STRATEGY MIDSTREAM CHEMICALS REFINING MARKETING AND SPECIALTIES ENERGY RESEARCH & INNOVATION GLOBAL ASSET MAP GENERAL INFORMATION

Wood River Refinery ROXANA, IL

Midstream Our Midstream segment provides crude oil and refined product transportation, terminaling, processing and export services, as well as natural gas liquids and liquefied gas transportation, 22,000 storage, processing and export services, mainly in the . miles of U.S. pipeline systems This segment includes our MLP, Partners, and our 50% equity investment in DCP Midstream, LLC.

Refining Our Refining segment refines crude oil and other feedstocks into petroleum products such as , distillates and aviation fuels at 13 refineries in the United States and Europe. Our Refining 2.2 business focuses on operating excellence and margin enhancement. million BPD of crude throughput capacity

Chemicals The Chemicals segment consists of our 50% joint venture interest in Chevron Phillips Chemical Company LLC (CPChem), which manufactures and markets and plastics worldwide. 28 CPChem has cost-advantaged assets concentrated in North America global manufacturing facilities and the Middle East.

Marketing and Specialties Phillips 66 is a diversified energy Our Marketing and Specialties segment markets refined petroleum products such as gasoline, distillates and aviation fuels, mainly in manufacturing and logistics company. the United States and Europe. This segment also includes the 7,540 manufacturing and marketing of specialty products such as base oils branded U.S. outlets With a portfolio of Midstream, Chemicals, Refining, and Marketing and Specialties and lubricants. businesses, the company processes, transports, stores and markets fuels and products globally. Phillips 66 Partners, the company’s master limited partnership (MLP), is integral to the portfolio. Headquartered in , Texas, Phillips 66 has 1,600 14,600 employees committed to safety and operating excellence. branded international outlets

As of Dec. 31, 2019, with the exception of crude throughput capacity, which is as of Jan. 1, 2020.

PHILLIPS 66 2020 FACT BOOK 3 OUR BUSINESSES OUR STRATEGY MIDSTREAM CHEMICALS REFINING MARKETING AND SPECIALTIES ENERGY RESEARCH & INNOVATION GLOBAL ASSET MAP GENERAL INFORMATION

Freeport Marine Terminal FREEPORT, TX

Growth Enhancing our portfolio by capturing growth opportunities in Midstream and Chemicals

Returns Improving returns by maximizing earnings from existing assets and investing capital efficiently

Distributions Committed to financial strength, disciplined capital allocation, dividend growth and share repurchases

Operating Excellence Committed to safety, reliability and environmental stewardship while protecting shareholder value

High-Performing Organization Building capability, pursuing excellence and doing the right thing We believe our strategy creates long-term shareholder value. The Phillips 66 strategic priorities of growth, returns and distributions are supported by a strong foundation of operating excellence and our high-performing organization. We made progress executing our key strategic priorities during 2019, achieving numerous milestones and successes.

PHILLIPS 66 2020 FACT BOOK 4 OUR BUSINESSES OUR STRATEGY MIDSTREAM CHEMICALS REFINING MARKETING AND SPECIALTIES ENERGY RESEARCH & INNOVATION GLOBAL ASSET MAP GENERAL INFORMATION

Transportation NGL and Other DCP Midstream Major Pipeline Systems Terminal and Storage Facilities

Denver Terminal DENVER, CO

Phillips 66 Partners Phillips 66 Partners, headquartered in Houston, Texas, is a publicly traded MLP formed in 2013 to own, operate, develop and acquire primarily fee- (NYSE:PSX) based midstream assets. On Aug. 1, 2019, Phillips 66 Partners completed a PSXP Public restructuring transaction to eliminate the incentive Common distribution rights (IDRs) held by Phillips 66 and Unitholders convert our 2% economic general partner interest Noneconomic into a noneconomic general partner interest General in exchange for 101 million Phillips 66 Partners Partner common units. No distributions were made for the Interest and general partner interest after Aug. 1, 2019. At Dec. 31, 2019, we owned 170 million Phillips 66 Partners common units, representing a 74% limited partner 74% 26% interest in Phillips 66 Partners, while the public Limited Limited Partner Partner owned a 26% limited partner interest and 13.8 Interest Interest million perpetual convertible preferred units. Phillips 66 Partners’ operations currently consist of crude oil, refined and NGL transportation, terminaling, fractionation, processing and storage assets that are geographically dispersed throughout the United States. The majority of Phillips 66 Partners’ assets are integral to Phillips 66 operated refineries. The results of operations of Phillips 66 Partners (NYSE:PSXP) The Midstream segment consists of three are included in the Midstream segment.* business lines: Transportation, NGL and Other, and DCP Midstream. Operating Transportation: Transports NGL and Other: Transports, DCP Midstream: Gathers, Subsidiaries crude oil and other feedstocks stores, fractionates, exports processes, transports and to our refineries and other and markets NGL, and provides markets natural gas, and + locations, delivers refined other fee-based processing transports, fractionates Joint petroleum products to market, services. and markets NGL. Ventures and provides terminaling and storage services for crude oil and refined petroleum products.

* Phillips 66 Partners’ results are included in the Transportation and As of March 31, 2020. NGL and Other business lines. Public also owns 13.8 million convertible preferred units.

PHILLIPS 66 2020 FACT BOOK 5 OUR BUSINESSES OUR STRATEGY MIDSTREAM CHEMICALS REFINING MARKETING AND SPECIALTIES ENERGY RESEARCH & INNOVATION GLOBAL ASSET MAP GENERAL INFORMATION

Transportation NGL and Other DCP Midstream Major Pipeline Systems Terminal and Storage Facilities

Taft Storage Facility at Gray Oak Pipeline TAFT, TX

We own and lease assets to provide transportation, terminaling and storage services. These assets include crude oil, refined petroleum product, NGL and natural gas pipeline systems; crude oil, refined petroleum product and NGL terminals; a petroleum coke handling facility; marine vessels; railcars and trucks. At Dec. 31, 2019, our Transportation business included one petroleum coke exporting facility and various other storage and loading facilities. Additionally, it was comprised of: Gray Oak Pipeline 39 owned or operated refined 900,000 BPD petroleum product terminals throughput capacity of crude oil 22,000 from West Texas to Texas Gulf Coast miles of crude oil, refined destinations petroleum product, NGL and natural gas pipeline systems 20 in the United States, including crude oil terminals those partially owned or operated by our affiliates 42.25% Phillips 66 Partners effective 4 ownership interest NGL terminals 2Q 2020 commenced full operations

Los Angeles Terminal LOS ANGELES, CA

PHILLIPS 66 2020 FACT BOOK 6 OUR BUSINESSES OUR STRATEGY MIDSTREAM CHEMICALS REFINING MARKETING AND SPECIALTIES ENERGY RESEARCH & INNOVATION GLOBAL ASSET MAP GENERAL INFORMATION

Transportation NGL and Other DCP Midstream Major Pipeline Systems Terminal and Storage Facilities

South Texas Gateway Terminal INGLESIDE, TX

Beaumont Terminal Located in Nederland, Texas, this is the largest terminal in the Phillips 66 portfolio. 16.8 200,000 BPD million barrels total crude and increase in export capacity with the addition product storage capacity of a fourth dock currently underway, bringing the total dock throughput capacity to This includes: 13.1 800,000 BPD million barrels storage capacity for crude oil 3Q 2020 + expected completion of fourth dock 3.7 million barrels storage capacity for refined petroleum products

South Texas Gateway Terminal Bayou Bridge Pipeline This marine export terminal, under construction by our co-venturer, will connect to This joint venture pipeline transports crude oil from Nederland to St. James, Louisiana. the Gray Oak Pipeline in Ingleside, Texas near Corpus Christi, Texas. A segment of the pipeline from Lake Charles, Louisiana, to St. James was completed in 2019. Our co-venturer operates the pipeline.

up to

25% 800,000 BPD Phillips 66 Partners 480,000 BPD total throughput capacity 2 total throughput capacity ownership interest deepwater docks 40% 8.5 3Q Phillips 66 Partners ownership interest million barrels storage capacity 2020 expected start up The company previously announced its plan to defer the Red Oak Pipeline and Sweeny Frac 4 projects, as well as Phillips 66 Partners’ Liberty Pipeline. Phillips 66 Partners has also postponed final investment decision on the ACE Pipeline.

PHILLIPS 66 2020 FACT BOOK 7 OUR BUSINESSES OUR STRATEGY MIDSTREAM CHEMICALS REFINING MARKETING AND SPECIALTIES ENERGY RESEARCH & INNOVATION GLOBAL ASSET MAP GENERAL INFORMATION

Transportation NGL and Other DCP Midstream Major Pipeline Systems Terminal and Storage Facilities

Freeport Marine Terminal FREEPORT, TX

Marine Vessels At Dec. 31, 2019, we had:

17 2 international-flagged Jones Act-compliant crude oil, refined tankers under time petroleum product charter contracts and NGL tankers under time charter contracts

Tanker capacities range from 300,000 barrels to

2.2 million barrels

Additionally, we had a variety of inland and offshore tug/barge units. These vessels are used primarily to transport crude oil and other feedstocks, as well as refined petroleum products for some of our refineries. In addition, the NGL tankers are used to export and butane from our fractionation, transportation and storage infrastructure. Truck and Rail Our truck and rail fleets support our feedstock and distribution operations. Rail movements are provided via a fleet of approximately 10,000 owned and leased railcars as of Dec. 31, 2019. Truck movements are provided through our wholly owned subsidiary, Sentinel Transportation LLC, and through numerous third-party trucking companies.

PHILLIPS 66 2020 FACT BOOK 8 OUR BUSINESSES OUR STRATEGY MIDSTREAM CHEMICALS REFINING MARKETING AND SPECIALTIES ENERGY RESEARCH & INNOVATION GLOBAL ASSET MAP GENERAL INFORMATION

Transportation NGL and Other DCP Midstream Major Pipeline Systems Terminal and Storage Facilities

Our NGL and Other business includes a U.S. Gulf Coast NGL market hub comprised of the Freeport LPG Export Terminal and Phillips 66 Partners’ 100,000 BPD Sweeny Fractionator. Sweeny Fractionator Freeport Terminal These assets are supported by 9 million barrels of gross capacity at Phillips 66 Partners’ Phillips 66 Partners’ Sweeny Fractionator is located The Freeport LPG Export Terminal leverages Clemens Caverns storage facility. adjacent to our Sweeny Refinery in Old Ocean our fractionation, transportation and storage and supplies purity ethane to the infrastructure to supply petrochemical, heating and industry and purity NGL to domestic and global transportation markets globally. The terminal can We refer to these facilities as the markets. Raw NGL supply to the fractionator is simultaneously load two ships with refrigerated delivered from nearby pipelines, including DCP propane and butane at a combined rate of “Sweeny Hub.” Sand Hills Pipeline, LLC (Sand Hills) and DCP approximately 36,000 barrels per hour. In support Southern Hills Pipeline, LLC (Southern Hills). of the terminal, we have a 100,000 BPD unit near

Clemens Storage Terminal The fractionator is supported by significant the Sweeny Fractionator to upgrade domestic FREEPORT, TX infrastructure including connectivity to two NGL propane for export. In addition, the terminal supply pipelines, a pipeline connecting to the Mont exports 10,000 to 15,000 BPD of natural gasoline Belvieu market center and the Clemens Caverns (C5+) produced at the Sweeny Fractionator. At storage facility with access to our LPG export Dec. 31, 2019, the Freeport LPG Export Terminal’s terminal in Freeport, Texas. total capacity was 200,000 BPD. Sweeny Hub Growth Projects 2 each with fractionation capacity of 4Q additional 150,000 BPD fractionators supported 2020 by long-term expected customer 400,000 BPD start up commitments total Sweeny Hub fractionation capacity upon completion*

Phillips 66 Partners Sweeny Hub Growth Projects: 7.5 4Q 16 in. million barrels of new ethane pipeline that will connect storage capacity at Clemens Caverns to petrochemical facilities Clemens Caverns 2020 in Gregory, Texas, near Corpus Christi expected completion 16.5 Mid-2021 million barrels of total expected start up Clemens Caverns storage capacity The C2G Pipeline project is supported by at completion long-term customer commitments.

* Excludes 150,000 BPD Frac 4 project, which is deferred. PHILLIPS 66 2020 FACT BOOK 9 OUR BUSINESSES OUR STRATEGY MIDSTREAM CHEMICALS REFINING MARKETING AND SPECIALTIES ENERGY RESEARCH & INNOVATION GLOBAL ASSET MAP GENERAL INFORMATION

Transportation NGL and Other DCP Midstream Major Pipeline Systems Terminal and Storage Facilities

Deethanizer, Sweeny Hub OLD OCEAN, TX

Our NGL and Other business Phillips 66 Partners owns a direct also includes: A 22.5% interest in Gulf Coast 33.3% Fractionators, which owns an interest in both Sand Hills and Southern NGL fractionation plant in Mont Hills pipelines, NGL pipeline systems that Belvieu, Texas. We operate the connect the Eagle Ford, Permian Basin and facility, and our net share of its Midcontinent production areas to the capacity is 32,625 BPD. Mont Belvieu market hub A 12.5% undivided interest in a fractionation plant in Mont Phillips 66 Partners, through its ownership Belvieu. Our net share of its of Merey Sweeny LLC, owns a vacuum capacity is 30,250 BPD. distillation unit with a capacity of A 40% undivided interest in a fractionation plant in Conway, 125,000 BPD Kansas. Our net share of its and a delayed coker unit with a capacity of capacity is 43,200 BPD. Phillips 66 Partners owns the 70,000 BPD River Parish NGL logistics located at our Sweeny Refinery in Old system in southeast Louisiana, Ocean, Texas comprising approximately 500 miles of pipeline and a storage In July 2019, Phillips 66 Partners completed cavern connecting multiple the construction of a fractionation facilities, refineries and a petrochemical facility. 25,000 BPD isomerization unit at our Lake Charles Refinery, which reached full production during the year, increasing Phillips 66’s production of higher-octane gasoline blend components

PHILLIPS 66 2020 FACT BOOK 10 Ferndale

OUR BUSINESSES OUR STRATEGY MIDSTREAM CHEMICALS REFINING MARKETING AND SPECIALTIES ENERGY RESEARCHBillings & INNOVATION GLOBAL ASSET MAP GENERAL INFORMATION Transportation NGL and Other DCP Midstream Major Pipeline Systems Terminal and Storage Facilities

Bayway

As of Dec. 31, 2019, DCP Our Midstream segment Midstream owned or operated: Active Processing Capacities* includes our 50% equity 11 North investment in SanDCP Fr anciscMidstream,o NGL fractionation plants, along Wood River

with natural gas and NGL storage Fr Southern Hills1.6 Bcf/d which is headquartered in facilities and NGL pipelines ont Range Denver, Colorado. Ponca The residual natural gas, primarily methane, which results from 2 City processing raw natural gas, is sold by DCP Midstream at market- Raw NGL pipelines, Sand Hills Borger based prices to end users, including large industrial companies, and Southern Hills Midcontinent natural gas distribution companies and electric utilities, and Permian marketers. DCP Midstream purchases or takes custodyLos Angeles of 1.4 Bcf/d substantially all of its raw natural gas from producers, principally 44 1.3 Bcf/d Southern Hills under contractual arrangements that expose DCP Midstream to active natural gas processing Te Sand Hills xa the prices of NGL, natural gas and condensate. DCP Midstream facilities, with a net processing s Expr also has fee-based arrangements with producers to provide capacity of approximately midstream services such as gathering and processing. In Sweeny ess Lake Charles addition, DCP Midstream markets a portion of its NGL to us and 6.5 Bcf/d Alliance our equity affiliates. Guadalupe On Nov. 6, 2019, DCP Partners completed a transaction DCP Midstream’s owned or to eliminate all general partner economic interests in DCP operated natural gas pipeline Gulf Coast Expr LEGEND Partners and IDRs in exchange for 65 million newly issued DCP systems included gathering South DCP Gathering Partners common units. With completion of the transaction, services for these facilities, ess DCP Midstream held a noneconomic general partner interest as well as natural gas 2.2 Bcf/d NGL/LPG Pipeline and approximately 118 million common units, representing transmission, and Refinery approximately 57% of DCP Partners’ outstanding common units. totaled approximately * As of Dec. 31, 2019. Shale Basin 58,000 miles of pipeline DCP Midstream Growth Projects

O’Connor 2 Gulf Coast Express Cheyenne Connector The 200 MMcf/d natural gas processing The pipeline began commercial In October 2019, DCP Midstream exercised facility was placed into service in the third operations in the third quarter of 2019. an option to increase its ownership quarter of 2019, and the associated 100 The pipeline transports approximately interest in the Cheyenne Connector to MMcf/d bypass was placed into service 2 Bcf/d of natural gas to Gulf Coast 50%. The 600 MMcf/d natural gas pipeline in the fourth quarter of 2019, increasing markets. DCP Midstream owns a 25% began service in the first half of 2020. DCP Midstream’s total available DJ Basin interest in the pipeline. capacity to over 1.4 Bcf/d.

PHILLIPS 66 2020 FACT BOOK 11 OUR BUSINESSES OUR STRATEGY MIDSTREAM CHEMICALS REFINING MARKETING AND SPECIALTIES ENERGY RESEARCH & INNOVATION GLOBAL ASSET MAP GENERAL INFORMATION

Transportation NGL and Other DCP Midstream Major Pipeline Systems Terminal and Storage Facilities

Phillips 66 Ownership Interest in Major Pipeline Systems As of Dec. 31, 2019.

Interest Length Gross Capacity Interest Length Gross Capacity Origination/Terminus Origination/Terminus Crude Oil (%) (Miles) (MBD) Natural Gas (%) (Miles) (Bcf/d)

Bakken Pipeline † North Dakota/Texas 25 1,918 570 Rockies Express*** Bayou Bridge † Texas/Louisiana 40 213 480 East to West Ohio/Illinois 25 661 2.6 Clifton Ridge † Louisiana 100 10 260 West to East Colorado/Ohio 25 1,712 1.8 CushPo † Oklahoma 100 62 130

Eagle Ford Gathering † Texas 100 28 54 Refined Petroleum Interest Length Gross Capacity Origination/Terminus Glacier † Montana 79 865 126 Products (%) (Miles) (MBD) Gray Oak Pipeline* † Texas 42 840 235 ATA Line † Texas/New Mexico 50 293 34 Line 100 California 100 79 54 Borger to Amarillo † Texas 100 93 76 Line 200 California 100 228 93 Borger-Denver Texas/Colorado 70 397 38 Line 300 California 100 61 48 Cherokee East † Oklahoma/Missouri 100 287 55 Line 400 California 100 153 40 Cherokee North † Oklahoma/Kansas 100 29 57 Line O † Oklahoma/Texas 100 276 37 Cherokee South † Oklahoma 100 98 46 New Mexico Crude † New Mexico/Texas 100 227 106 Cross Channel Connector † Texas 100 5 184 North Texas Crude † Texas 100 224 28 Explorer † Texas/Indiana 22 1,830 660 Oklahoma Crude † Texas/Oklahoma 100 217 100 Gold Line † Texas/Illinois 100 686 120 Sacagawea † North Dakota 50 95 175 Heartland** Kansas/Iowa 50 49 30 STACK PL † Oklahoma 50 149 250 LAX Line California 50 19 50 Sweeny Crude Texas 100 56 265 Los Angeles Products California 100 22 112 West Texas Crude † Texas 100 1,079 156 Paola Products † Kansas 100 106 96 Pioneer Wyoming/Utah 50 562 63 Interest Length Gross Capacity Origination/Terminus Richmond California 100 14 26 NGL (%) (Miles) (MBD) SAAL † Texas 33 102 32 Blue Line Texas/Illinois 100 688 29 SAAL † Texas 54 19 30 Brown Line † Oklahoma/Kansas 100 76 26 Seminoe † Montana/Wyoming 100 342 33 Chisholm Oklahoma/Kansas 50 202 42 Standish † Oklahoma/Kansas 100 92 72 Conway to Wichita Kansas 100 55 38 Sweeny to Pasadena † Texas 100 120 294 Medford † Oklahoma 100 42 10 Torrance Products California 100 8 161 Powder River Wyoming/Texas 100 716 14 Watson Products California 100 9 238 River Parish NGL † Louisiana 100 510 133 Yellowstone Montana/Washington 46 710 66 Sand Hills † New Mexico/Texas 33 1,506 500 Skelly-Belvieu Texas 50 571 45 † Owned by Phillips 66 Partners; Phillips 66 held 74% of the limited partner interest in Phillips 66 Partners at Dec. 31, 2019. * Interest reflects Phillips 66 Partners’ proportionate share of the Gray Oak Pipeline system, held through its 65%-owned consolidated subsidiary, Southern Hills † Kansas/Texas 33 981 192 Gray Oak Holdings, LLC. Gray Oak Holdings, LLC had a 65% ownership interest in Gray Oak Pipeline, LLC at Dec. 31, 2019. Gross capacity reflects the initial accelerated commissioning service capacity at Dec. 31, 2019. Sweeny LPG Texas 100 232 942 ** Total pipeline system is 419 miles. Phillips 66 has an ownership interest in multiple segments totaling 49 miles. Sweeny NGL Texas 100 18 204 *** Total pipeline system consists of three zones for a total of 1,712 miles. The third zone of the pipeline is bidirectional and can transport 2.6 Bcf/d of TX Panhandle Y1/Y2 Texas 100 289 61 natural gas from east to west.

PHILLIPS 66 2020 FACT BOOK 12 OUR BUSINESSES OUR STRATEGY MIDSTREAM CHEMICALS REFINING MARKETING AND SPECIALTIES ENERGY RESEARCH & INNOVATION GLOBAL ASSET MAP GENERAL INFORMATION

Transportation NGL and Other DCP Midstream Major Pipeline Systems Terminal and Storage Facilities

Phillips 66 Ownership Interest in Terminal and Storage Facilities As of Dec. 31, 2019.

Gross Storage Gross Rack Gross Storage Gross Rack Interest Interest Facility Location Commodity Handled Capacity Capacity Facility Location Commodity Handled Capacity Capacity (%) (%) (MBbl) (MBD) (MBbl) (MBD)

Albuquerque † New Mexico Refined Petroleum Products 100 274 20 Missoula Montana Refined Petroleum Products 50 365 14 Amarillo † Texas Refined Petroleum Products 100 296 23 Moses Lake Washington Refined Petroleum Products 50 216 10 Beaumont Texas Crude Oil, Refined Petroleum Products 100 15,500 8 Mount Vernon † Missouri Refined Petroleum Products 100 365 40 Billings Montana Refined Petroleum Products 100 88 12 North Salt Lake Utah Refined Petroleum Products 50 755 34 Billings Crude † Montana Crude Oil 100 236 N/A North Spokane Washington Refined Petroleum Products 100 492 N/A Borger Texas Crude Oil 50 772 N/A Odessa † Texas Crude Oil 100 521 N/A Bozeman Montana Refined Petroleum Products 100 130 5 Oklahoma City † Oklahoma Crude Oil, Refined Petroleum Products 100 355 42 Buffalo Crude† Montana Crude Oil 100 303 N/A Palermo † North Dakota Crude Oil 70 235 N/A Casper † Wyoming Refined Petroleum Products 100 365 7 Paola † Kansas Refined Petroleum Products 100 978 N/A Clemens † Texas NGL 100 9,000 N/A Pasadena † Texas Refined Petroleum Products 100 3,234 65 Clifton Ridge † Louisiana Crude Oil 100 3,800 N/A Pecan Grove † Louisiana Crude Oil 100 177 N/A Coalinga California Crude Oil 100 817 N/A Ponca City † Oklahoma Refined Petroleum Products 100 71 22 Colton California Refined Petroleum Products 100 207 20 Ponca City Crude † Oklahoma Crude Oil 100 1,229 N/A Cushing † Oklahoma Crude Oil 100 675 N/A Portland Oregon Refined Petroleum Products 100 650 33 Cut Bank † Montana Crude Oil 100 315 N/A Renton Washington Refined Petroleum Products 100 243 19 Denver Colorado Refined Petroleum Products 100 310 43 Richmond California Refined Petroleum Products 100 343 28 Des Moines Iowa Refined Petroleum Products 50 217 12 River Parish † Louisiana NGL 100 1,500 N/A East St. Louis † Illinois Refined Petroleum Products 100 2,031 62 Rock Springs Wyoming Refined Petroleum Products 100 132 8 Freeport Texas Crude Oil, Refined Petroleum Products, NGL 100 3,485 N/A Sacramento California Refined Petroleum Products 100 146 12 Glenpool † Oklahoma Refined Petroleum Products 100 571 18 San Bernard Texas Refined Petroleum Products 100 222 N/A Great Falls Montana Refined Petroleum Products 100 198 6 Santa Margarita California Crude Oil 100 398 N/A Hartford † Illinois Refined Petroleum Products 100 1,468 21 Sheridan † Wyoming Refined Petroleum Products 100 94 6 Helena Montana Refined Petroleum Products 100 195 5 Spokane Washington Refined Petroleum Products 100 351 20 Jefferson City† Missouri Refined Petroleum Products 100 103 15 Tacoma Washington Refined Petroleum Products 100 316 19 Jones Creek Texas Crude Oil 100 2,580 N/A Torrance California Crude Oil, Refined Petroleum Products 100 2,128 N/A Junction California Crude Oil, Refined Petroleum Products 100 524 N/A Tremley Point † Refined Petroleum Products 100 1,701 25 Kansas City † Kansas Refined Petroleum Products 100 1,410 50 Westlake Louisiana Refined Petroleum Products 100 128 10 Keene † North Dakota Crude Oil 50 503 N/A Wichita Falls † Texas Crude Oil 100 225 N/A La Junta Colorado Refined Petroleum Products 100 109 5 Wichita North † Kansas Refined Petroleum Products 100 769 20 Lake Charles Wichita South † Kansas Refined Petroleum Products 100 272 N/A Louisiana Refined Petroleum Products 50 3,143 N/A Pipeline Storage Lincoln Nebraska Refined Petroleum Products 100 217 12 Linden † New Jersey Refined Petroleum Products 100 360 95 Los Angeles California Refined Petroleum Products 100 156 80 † Owned by Phillips 66 Partners; Phillips 66 held 74% of the limited partner interest in Phillips 66 Partners at Dec. 31, 2019. Lubbock † Texas Refined Petroleum Products 100 182 18 Refer to the Phillips 66 2019 Form 10-K for additional details on our ownership interest in marine, rail, and petroleum coke loading and offloading facilities at Dec. 31, 2019. Medford Spheres † Oklahoma NGL 100 70 N/A

PHILLIPS 66 2020 FACT BOOK 13 OUR BUSINESSES OUR STRATEGY MIDSTREAM CHEMICALS REFINING MARKETING AND SPECIALTIES ENERGY RESEARCH & INNOVATION GLOBAL ASSET MAP GENERAL INFORMATION

Capacities by Product Capacities by Location

CPChem Cedar Bayou Complex BAYTOWN, TX

We structure our reporting of polyethylene, are manufactured CPChem’s operations around two in a thermal/catalyst process, primary business lines: Olefins and and the produced output is Polyolefins (O&P) and Specialties, used as a further raw material Aromatics and Styrenics (SA&S). for various applications, such as medical supplies, plastic pipe, The O&P business line produces food packaging and cleaning and markets ethylene and other supply bottles. olefin products. The ethylene produced is primarily used by CPChem to produce polyethylene, Effective Jan. 1, 2019, capacity NAO and polyethylene pipe. at CPChem’s new ethane cracker at the Cedar Bayou The SA&S business line facility in Baytown, Texas, was manufactures and markets increased to aromatics and styrenics products, such as benzene, 1.7 MMTA cyclohexane, styrene and which is 15% above the original polystyrene. SA&S also design capacity manufactures and/or markets a variety of specialty chemical products including organosulfur In June 2019, CPChem signed an chemicals, solvents, catalysts, agreement with and chemicals used in drilling to jointly pursue the development and mining. of a petrochemical facility on the The manufacturing of U.S. Gulf Coast. CPChem would petrochemicals and plastics own a 51% interest in the joint involves the conversion of venture and have responsibility hydrocarbon-based raw material for the construction, operation As of Dec. 31, 2019, CPChem owned feedstocks into higher-value and management of the facility. The Chemicals segment or had joint venture interests in: products, often through a CPChem is closely monitoring thermal process referred to economic developments and has consists of our 50% equity deferred final investment decision. 28 in the industry as “.” Also in June 2019, CPChem investment in CPChem, manufacturing facilities located For example, ethylene can be in Belgium, Colombia, Qatar, produced by cracking ethane, signed an agreement with Qatar which is headquartered in Saudi Arabia, Singapore and propane, butane, natural gasoline Petroleum to jointly pursue the the United States or certain refinery liquids, development, construction and The Woodlands, Texas. such as naphtha and gas oil. operation of a petrochemicals Ethylene primarily is used as a complex in Qatar. Pending final raw material in the production investment decision, CPChem 2 of plastics, such as polyethylene would own a 30% interest in the research and development and PVC. Plastic resins, such as joint venture. centers in the United States

PHILLIPS 66 2020 FACT BOOK 14 OUR BUSINESSES OUR STRATEGY MIDSTREAM CHEMICALS REFINING MARKETING AND SPECIALTIES ENERGY RESEARCH & INNOVATION GLOBAL ASSET MAP GENERAL INFORMATION

Capacities by Product Capacities by Location

CPChem’s Petrochemicals and Plastics Product Capacities As of Dec. 31, 2019.*

U.S. Worldwide O&P (MMLB/Y) (MMLB/Y)

Ethylene 11,910 14,385 Propylene 2,675 3,180 High-density polyethylene 5,305 7,470 Low-density polyethylene 620 620 Linear low-density 1,590 1,590 Polypropylene — 310 Normal alpha olefins 2,335 2,850 Polyalphaolefins 125 255 Polyethylene pipe 500 500 Total O&P 25,060 31,160

U.S. Worldwide SA&S (MMLB/Y) (MMLB/Y)

Benzene 1,600 2,530 Cyclohexane 1,060 1,455 Styrene 1,050 1,875 Polystyrene 835 1,070 Specialty chemicals 440 575 Total SA&S 4,985 7,505

Total O&P and SA&S 30,045 38,665

* Capacities include CPChem’s share in equity affiliates and excludes CPChem’s CPChem Sweeny Complex NGL fractionation capacity. OLD OCEAN, TX

PHILLIPS 66 2020 FACT BOOK 15 OUR BUSINESSES OUR STRATEGY MIDSTREAM CHEMICALS REFINING MARKETING AND SPECIALTIES ENERGY RESEARCH & INNOVATION GLOBAL ASSET MAP GENERAL INFORMATION

Capacities by Product Capacities by Location

CPChem’s Product Capacities by Location Global Locations As of Dec. 31, 2019.

DDLE EAS MI T United States CPChem Gross Gross Ownership Products Capacity Capacity Facilities (%) (MMLB/Y) (kMTA) SPCo & Cedar Bayou Facility, Baytown, TX 100 Ethylene 5,640 2,560 S-Chem Q-Chem I & II Propylene 1,030 465 LDPE 620 280 LLDPE 490 220

NAO 1,785 810 Cedar Bayou Orange LEGEND 1-Hexene 550 250 Pasadena CPChem (O&P)

PAO 125 58 Port Arthur CPChem Facility Sweeny/Old Ocean 70 HDPE 1,515 685 Shale Basin Sweeny Facility, Old Ocean, TX 100 HDPE 1,100 500 LLDPE 1,100 500 Sweeny Facility, Sweeny, TX 100 Ethylene 4,390 1,995 Propylene 870 395 International CPChem Gross Gross Ownership Products Capacity Capacity Port Arthur Facility, Port Arthur, TX 100 Ethylene 1,880 855 Facilities (%) (MMLB/Y) (kMTA) Propylene 775 350 Beringen Facility, Beringen, Belgium 100 PAO 130 60 Cyclohexane 1,060 480 Tessenderlo Chemicals Facility, 100 Specialty Chemicals 135 60 Pascagoula Facility, Pascagoula, MS 100 Benzene 1,600 725 Tessenderlo, Belgium Pasadena Plastics Complex, Pasadena, TX 100 HDPE 2,180 985 Qatar Chemical Company LTD., 49 Ethylene 1,150 520 Mesaieed, Qatar (Q-Chem I) Orange Chemical Facility, Orange, TX 100 HDPE 970 440 HDPE 1,010 460 Borger Facility, Borger, TX 100 Specialty Chemicals 380 175 1-Hexene 130 60 Drilling Specialties, Conroe, TX 100 Drilling Specialties 59 27 Qatar Chemical Company II LTD., 49 Ethylene 1,530 695 Ras Laffan, Qatar (Q-Chem II) Performance Pipe Division, seven loca- 100 Performance Pipe 500 227 HDPE 770 350 Americas Styrenics, St. James, LA 50 Styrene 2,100 955 NAO 760 345 Americas Styrenics, Torrance, CA 50 Polystyrene 330 150 Jubail Chevron Phillips Company, 50 Ethylene 450 205 Jubail Industrial City, Saudi Arabia Americas Styrenics, Allyn's Point, CT 50 Polystyrene 250 115 Propylene 330 150 Americas Styrenics, Joliet, LA 50 Polystyrene 270 120 Styrene 1,650 750 Americas Styrenics, Hanging Rock, OH 50 Polystyrene 400 180 Saudi Chevron Phillips Company, 50 Benzene 1,865 845 Jubail Industrial City, Saudi Arabia Americas Styrenics, Marietta, OH 50 Polystyrene 420 190 Cyclohexane 790 360 Saudi Polymers Company, 35 Ethylene 2,690 1,220 Jubail Industrial City, Saudi Arabia (SPCo) Propylene 970 440 HDPE 2,425 1,100 Polypropylene 880 400 Polystyrene 440 200 No. 1 No. 2 No. 2 1-Hexene 220 100 HDPE producer worldwide NAO producer worldwide Propylene merchant producer Americas Styrenics, Cartegena, Colombia 50 Polystyrene 160 75 in North America Chevron Phillips Singapore Chemical 50 HDPE 880 400 Pte. Ltd., Jurong Island, Singapore

PHILLIPS 66 2020 FACT BOOK 16 OUR BUSINESSES OUR STRATEGY MIDSTREAM CHEMICALS REFINING MARKETING AND SPECIALTIES ENERGY RESEARCH & INNOVATION GLOBAL ASSET MAP GENERAL INFORMATION

Atlantic Basin/ Europe Gulf Coast Central Corridor West Coast Renewable Diesel

Lake Charles Refinery WESTLAKE, LA

In Refining, our focus is on maintaining the highest standards in operating excellence and environmental stewardship. We practice cost and capital discipline. Our capital program sustaining projects ensure safe, reliable operations, and our high-return, quick payout projects enhance margins. Also, we rank in the top quartile for the Solomon non-energy operating cost . Our AdvantEdge66 initiative is positioning us to stay competitive long-term through the deployment of technology.

In 2019, Phillips 66 Partners We also completed a portfolio of high-return completed construction of the projects across our system to increase our distillate production capacity by 25,000 BPD. A fluid catalytic cracking (FCC) unit upgrade 25,000 BPD was completed in the first quarter of 2020 at isomerization unit at the Lake our Sweeny Refinery to increase production of Charles Refinery to increase production of higher-octane higher-value petrochemical products and higher- gasoline blend components. octane gasoline.

Primary Crude Oil Characteristics and Sources

Characteristics Sources

South Middle Medium Heavy High United and Refinery Sweet Europe** East and Sour Sour TAN* States Central Africa America Bayway • • • • • Humber • • • • • • Our Refining segment refines crude oil MiRO • • • • • Alliance • • • and other feedstocks into petroleum Lake Charles • • • • • • • • • products such as gasoline, distillates Sweeny • • • • • • • Wood River • • • • • and aviation fuels at 13 refineries in the Borger • • • • • United States and Europe. Ponca City • • • • • Billings • • • • • Ferndale • • • • • Los Angeles • • • • • • • San Francisco • • • • • • • • •

* High TAN (Total Acid Number): acid content greater than or equal to 1.0 milligram of potassium hydroxide (KOH) per gram.

** Includes Russian crude.

PHILLIPS 66 2020 FACT BOOK 17 OUR BUSINESSES OUR STRATEGY MIDSTREAM CHEMICALS REFINING MARKETING AND SPECIALTIES ENERGY RESEARCH & INNOVATION GLOBAL ASSET MAP GENERAL INFORMATION

Atlantic Basin/ Europe Gulf Coast Central Corridor West Coast Renewable Diesel

Bayway Humber MiRO Refinery Refinery Refinery* LINDEN, NJ , UK KARLSRUHE, GERMANY 92 Capacities (MBD): 81 Capacities (MBD): 87 Capacities (MBD): Clean 155 Clean 95 Clean 25 Product Yield Production** Product Yield Gasolines Production** Product Yield Gasolines Production** Capability (%) Capability (%) Capability (%) 130 115 25 7.7 Distillates Production** 11.8 Distillates Production** 7.7 Distillates Production** Nelson Nelson Nelson Complexity Complexity Complexity Factor 258 Factor 221 Factor 58 Crude Throughput Crude Throughput Crude Throughput 300 245 61 Total Throughput Total Throughput Total Throughput

The is located on the New York The is located on the east coast The MiRO Refinery is located on the Rhine River in Harbor in Linden, New Jersey. of England in North Lincolnshire, United Kingdom, Karlsruhe, Germany, approximately 95 miles south Bayway’s facilities include crude distilling, naphtha approximately 180 miles north of London. of Frankfurt, Germany. reforming, fluid catalytic cracking, solvent Humber’s facilities include crude distilling, MiRO is the largest refinery in Germany and operates deasphalting, hydrodesulfurization and alkylation naphtha reforming, fluid catalytic cracking, as a joint venture in which we own an 18.75% units. The complex also includes a polypropylene hydrodesulfurization, thermal cracking and delayed interest. Facilities include crude distilling, naphtha plant with the capacity to produce up to 775 coking units. The refinery has two coking units reforming, fluid catalytic cracking, petroleum coking million pounds per year. The refinery processes with associated calcining plants. Humber is the and calcining, hydrodesulfurization, isomerization, mainly light and medium, low-sulfur crude oil. only coking refinery in the United Kingdom, and ethyl tert-butyl ether and alkylation units. Phillips 66 Foreign crude oil is supplied to the refinery by a producer of high-quality specialty graphite processes mainly light, medium sweet and medium tanker, and domestic crude oil is supplied through and anode-grade petroleum cokes. The refinery sour crude oil in our share of the refinery. Crude oil a combination of rail and marine transport. Within processes crude oil supplied primarily from the is delivered to the refinery by a cross-country the refinery, Phillips 66 Partners has a rail receiving North Sea and includes light, low- and medium- pipeline from the port of Trieste, Italy. facility with 75,000 BPD of offloading capacity. sulfur and acidic crude oil. MiRO produces a high percentage of transportation The refinery produces a high percentage of The refinery also produces a high percentage fuels. Other products produced include transportation fuels, as well as petrochemical of transportation fuels. The majority of the light petrochemical feedstocks, home heating oil, feedstocks, residual fuel oil and home heating oil. oils produced by the refinery are distributed to bitumen, and anode and fuel-grade petroleum Refined petroleum products are distributed to customers in the United Kingdom by pipeline, cokes. Refined petroleum products are distributed East Coast customers by pipeline, barge, railcar railcar and truck, while the other refined petroleum to customers in Germany, Switzerland, France and and truck. products are exported throughout the world. Austria by truck, railcar and barge.

Capacity data is as of Jan. 1, 2020. Nelson complexity factors and clean product yields are as of Dec. 31, 2019. * Mineraloelraffinerie Oberrhein GmbH. ** Clean product capacities are maximum rates for each clean product category, independent of each other. They are not additive when calculating the clean product yield capability for each refinery. PHILLIPS 66 2020 FACT BOOK 18 OUR BUSINESSES OUR STRATEGY MIDSTREAM CHEMICALS REFINING MARKETING AND SPECIALTIES ENERGY RESEARCH & INNOVATION GLOBAL ASSET MAP GENERAL INFORMATION

Atlantic Basin/ Europe Gulf Coast Central Corridor West Coast Renewable Diesel

Alliance Lake Charles Sweeny Refinery Refinery Refinery BELLE CHASSE, LA WESTLAKE, LA OLD OCEAN, TX 87 Capacities (MBD): 70 Capacities (MBD): 86 Capacities (MBD): Clean 130 Clean 105 Clean 140 Product Yield Gasolines Production** Product Yield Gasolines Production** Product Yield Gasolines Production** Capability (%) Capability (%) Capability (%) 120 115 125 11.6 Distillates Production** 9.5 Distillates Production** 13.4 Distillates Production** Nelson Nelson Nelson Complexity Complexity Complexity Factor 255 Factor 249 Factor 265 Crude Throughput Crude Throughput Crude Throughput 278 290 314 Total Throughput Total Throughput Total Throughput

The Alliance Refinery is located on the Mississippi The Lake Charles Refinery is located in Westlake, The Sweeny Refinery is located in Old Ocean, River in Belle Chasse, Louisiana, approximately 25 Louisiana, approximately 150 miles east of Texas, approximately 65 miles southwest of miles southeast of New Orleans, Louisiana. Houston, Texas. Houston, Texas. The single-train facility includes crude distilling, Refinery facilities include crude distilling, naphtha Refinery facilities include crude distilling, naphtha naphtha reforming, fluid catalytic cracking, reforming, fluid catalytic cracking, alkylation, reforming, fluid catalytic cracking, alkylation, alkylation, hydrodesulfurization, aromatics and hydrocracking, hydrodesulfurization, delayed coking hydrodesulfurization, aromatics units, and a delayed coking units. The refinery processes mainly units, a specialty coker and calciner. The refinery Phillips 66 Partners owned delayed coking unit. light and medium, low-sulfur crude oil and receives processes a mixture of light to heavy, low- and high- The Sweeny Refinery processes heavy, high-sulfur domestic crude oil through a combination of sulfur and low- and high-acid crude oils. The refinery crude oil and some light, low-sulfur crude oil. pipelines, marine transportation and terminals. receives domestic, Canadian and other foreign crude Domestic, Canadian and other foreign crude oil Alliance produces a high percentage of oil through truck, pipeline, marine transportation are transported to the refinery by truck, pipeline, transportation fuels. Other products produced and terminals, including Beaumont and Clifton Ridge marine transportation and terminals. terminals and Bayou Bridge Pipeline. include petrochemical feedstocks, home heating The refinery produces a high percentage of oil and anode-grade petroleum coke. A majority The refinery produces a high percentage of transportation fuels. Other products include of the refined petroleum products are distributed transportation fuels. Other products produced petrochemical feedstocks, home heating oil and to customers in the southeastern and eastern include off-road diesel, home heating oil, feedstock fuel-grade petroleum coke. A majority of the United States through major common carrier for our Excel Paralubes joint venture, and high- refined petroleum products are distributed to pipeline systems and by barge. Additionally, refined quality specialty graphite and fuel-grade petroleum customers throughout the Midcontinent region, petroleum products are exported to customers cokes. A majority of the products are distributed to southeastern and eastern United States by pipeline, primarily in Latin America by waterborne cargo. customers in the southeastern and eastern United barge and railcar. Additionally, refined petroleum States by truck, railcar, barge or major common products are exported to customers primarily in carrier pipelines. Additionally, refined petroleum Latin America by waterborne cargo. products are exported to customers primarily in Latin America and Europe by waterborne cargo.

** Clean product capacities are maximum rates for each clean product category, independent of each other. They are not additive when calculating the clean product yield capability for each refinery. PHILLIPS 66 2020 FACT BOOK 19 OUR BUSINESSES OUR STRATEGY MIDSTREAM CHEMICALS REFINING MARKETING AND SPECIALTIES ENERGY RESEARCH & INNOVATION GLOBAL ASSET MAP GENERAL INFORMATION

Atlantic Basin/ Europe Gulf Coast Central Corridor West Coast Renewable Diesel

Wood River Refinery ROXANA, IL WRB Refining LP (WRB)

We are the operator and managing partner of WRB, a 50%-owned joint venture that owns the Wood River and Borger refineries.

Wood River Borger Refinery Refinery ROXANA, IL BORGER, TX 81 Capacities (MBD): 91 Capacities (MBD): Clean 85 Clean 50 Product Yield Gasolines Production** Product Yield Gasolines Production** Capability (%) Capability (%) 70 35 11.0 Distillates Production** 11.6 Distillates Production** Nelson Nelson Complexity Complexity Factor 173 Factor 75 Crude Throughput Crude Throughput 180 92 Total Throughput Total Throughput

The Wood River Refinery is located in Roxana, Illinois, The Borger Refinery is located in Borger, Texas, in about 15 miles northeast of St. Louis, Missouri, at the the Texas Panhandle, approximately 50 miles north confluence of the Mississippi and Missouri rivers. of Amarillo, Texas. Refinery facilities include crude distilling, naphtha Refinery facilities include crude distilling, naphtha reforming, fluid catalytic cracking, alkylation, reforming, fluid catalytic cracking, alkylation, hydrocracking, hydrodesulfurization and delayed hydrodesulfurization and delayed coking units. The coking units. The refinery processes a mixture of refinery processes primarily medium sweet and light, low-sulfur; heavy, high-sulfur; and high-acid sour crude oil produced locally, as well as . The crude supply is sourced domestically sour crude oil produced in Canada, all of which are or from Canada. delivered by pipeline. The refinery produces a high percentage of The refinery produces a high percentage of transportation fuels. Other products produced include transportation fuels, as well as fuel-grade petroleum petrochemical feedstocks, and fuel-grade coke and solvents. Refined petroleum products are petroleum coke. Refined petroleum products are distributed to customers in West Texas, New Mexico, distributed to customers throughout the Midcontinent Colorado and the Midcontinent region by company- region by pipeline, railcar, barge and truck. owned and common carrier pipelines.

** Clean product capacities are maximum rates for each clean product category, independent of each other. They are not additive when calculating the clean product yield capability for each refinery. PHILLIPS 66 2020 FACT BOOK 20 OUR BUSINESSES OUR STRATEGY MIDSTREAM CHEMICALS REFINING MARKETING AND SPECIALTIES ENERGY RESEARCH & INNOVATION GLOBAL ASSET MAP GENERAL INFORMATION

Atlantic Basin/ Europe Gulf Coast Central Corridor West Coast Renewable Diesel

Ponca City Refinery PONCA CITY, OK Ponca City Billings Refinery Refinery PONCA CITY, OK BILLINGS, MT 93 Capacities (MBD): 90 Capacities (MBD): Clean 120 Clean 35 Product Yield Gasolines Production** Product Yield Gasolines Production** Capability (%) Capability (%) 100 30 8.8 Distillates Production** 12.4 Distillates Production** Nelson Nelson Complexity Complexity Factor 217 Factor 65 Crude Throughput Crude Throughput 230 67 Total Throughput Total Throughput

The Ponca City Refinery is located in Ponca City, The Billings Refinery is located in Billings, Montana. Oklahoma, approximately 95 miles northwest of Refinery facilities include crude distilling, naphtha Tulsa, Oklahoma. reforming, fluid catalytic cracking, alkylation, Refinery facilities include crude distilling, naphtha hydrodesulfurization and delayed coking units. reforming, fluid catalytic cracking, alkylation, The refinery processes a mixture of Canadian hydrodesulfurization and delayed coking units. heavy, high-sulfur crude oil delivered by pipeline The refinery processes a mixture of light, medium and domestic crude oil delivered by truck, and has and heavy crude oil delivered via pipeline from 100% heavy crude processing capability. Oklahoma, Texas, New Mexico, the U.S. Rockies The refinery produces a high percentage of and Canada. Infrastructure improvements have transportation fuels and fuel-grade petroleum enabled the delivery of locally produced crude oil coke. Refined petroleum products are distributed by pipeline and truck. to customers in Montana, Wyoming, Idaho, Utah, The refinery produces a high percentage of Colorado and Washington by pipeline, railcar transportation fuels and anode-grade petroleum and truck. coke. Refined petroleum products are primarily distributed to customers throughout the Midcontinent region by company-owned and common carrier pipelines.

** Clean product capacities are maximum rates for each clean product category, independent of each other. They are not additive when calculating the clean product yield capability for each refinery. PHILLIPS 66 2020 FACT BOOK 21 OUR BUSINESSES OUR STRATEGY MIDSTREAM CHEMICALS REFINING MARKETING AND SPECIALTIES ENERGY RESEARCH & INNOVATION GLOBAL ASSET MAP GENERAL INFORMATION

Atlantic Basin/ Europe Gulf Coast Central Corridor West Coast Renewable Diesel

Ferndale Los Angeles San Francisco Refinery Refinery Refinery FERNDALE, WA CARSON AND WILMINGTON, CA ARROYO GRANDE AND RODEO, CA 81 Capacities (MBD): 90 Capacities (MBD): 85 Capacities (MBD): Clean 65 Clean 85 Clean 60 Product Yield Gasolines Production** Product Yield Gasolines Production** Product Yield Gasolines Production** Capability (%) Capability (%) Capability (%) 35 65 65 7.7 Distillates Production** 14.3 Distillates Production** 13.3 Distillates Production** Nelson Nelson Nelson Complexity Complexity Complexity Factor 105 Factor 139 Factor 120 Crude Throughput Crude Throughput Crude Throughput 121 165 140 Total Throughput Total Throughput Total Throughput

The is located on Puget Sound The Los Angeles Refinery consists of two facilities The San Francisco Refinery consists of two facilities in Ferndale, Washington, approximately 20 miles linked by pipeline located 5 miles apart in Carson linked by our pipelines. The Santa Maria facility south of the U.S.-Canada border. and Wilmington, California, approximately 15 miles is located in Arroyo Grande, California, 200 miles Facilities include crude distillation, naphtha southeast of Los Angeles. south of San Francisco, California, while the Rodeo reforming, fluid catalytic cracking, alkylation and The Carson facility serves as the front end of facility is located in the San Francisco Bay Area. hydrodesulfurization units. The refinery processes a the refinery by processing crude oil, and the Intermediate refined products from the Santa Maria variety of crude oils, including Alaskan North Slope, Wilmington facility serves as the back end of the facility are shipped by pipeline to the Rodeo facility Canadian and other foreign and U.S. shale crudes, refinery by upgrading the intermediate products for upgrading into finished petroleum products. primarily delivered via marine vessel and pipeline. to finished products. Refinery facilities include Refinery facilities include crude distillation, naphtha The refinery produces a high percentage of crude distillation, naphtha reforming, fluid catalytic reforming, hydrocracking, hydrodesulfurization and transportation fuels. Other products produced cracking, alkylation, hydrocracking and delayed delayed coking units, as well as a calciner. The San include residual fuel oil, which is supplied to the coking units. The refinery receives domestic crude Francisco Refinery processes a mixture of heavy, northwest marine bunker fuel market. Most of oil by pipeline from California, Canadian crude via high-sulfur and light sweet crude. The refinery the refined petroleum products are distributed rail, and both foreign and domestic crude oil by receives California crude oil by pipeline, and both to customers in the northwest United States by tanker through a third-party terminal in the Port of domestic and foreign crude oil by tanker. pipeline and barge. Long Beach. The refinery produces a high percentage of The refinery produces a high percentage of transportation fuels, including CARB-grade transportation fuels. The refinery produces gasoline. Other products produced include California Air Resources Board (CARB)-grade fuel-grade petroleum coke. The majority of the gasoline. Other products produced include fuel- refined petroleum products are distributed to grade petroleum coke. Refined petroleum products customers in California by pipeline and barge. are distributed to customers in California, Nevada Additionally, refined petroleum products are and Arizona by pipeline and truck. exported to customers primarily in Latin America by waterborne cargo.

** Clean product capacities are maximum rates for each clean product category, independent of each other. They are not additive when calculating the clean product yield capability for each refinery. PHILLIPS 66 2020 FACT BOOK 22 OUR BUSINESSES OUR STRATEGY MIDSTREAM CHEMICALS REFINING MARKETING AND SPECIALTIES ENERGY RESEARCH & INNOVATION GLOBAL ASSET MAP GENERAL INFORMATION

Atlantic Basin/ Europe Gulf Coast Central Corridor West Coast Renewable Diesel

San Francisco Refinery RODEO, CA

Renewable diesel project underway at the Humber Refinery.

Developing renewable diesel project at the San Francisco Refinery.

Supply and off-take agreements for two third-party renewable diesel manufacturing facilities under construction in Nevada.

We prioritize renewable fuel projects that leverage existing infrastructure as we invest toward our goal of more than 340 million gallons per year of renewable diesel.

CO2

Waste fats, recycled cooking oils and other renewable feedstocks will be used for diesel production that complies with low-carbon fuel standards.

Humber Refinery NORTH LINCOLNSHIRE, UK

PHILLIPS 66 2020 FACT BOOK 23 OUR BUSINESSES OUR STRATEGY MIDSTREAM CHEMICALS REFINING MARKETING AND SPECIALTIES ENERGY RESEARCH & INNOVATION GLOBAL ASSET MAP GENERAL INFORMATION

U.S. Marketing International Marketing Specialties

Phillips 66 Branded Marketing Site ST. LOUIS, MO

Our wholesale operations utilize a network of In the United States, marketers operating approximately 5,450 outlets. We place a strong emphasis on the wholesale we market gasoline, channel of trade because of its relatively lower capital requirements. In addition, we hold brand- diesel and licensing agreements covering approximately 1,280 sites. Our refined petroleum products are through marketer and marketed on both a branded and unbranded basis. joint venture outlets that Our branded marketing sales are primarily made in the Midcontinent, Rockies and West Coast regions, utilize the Phillips 66, where our wholesale marketing networks provide efficient off-take from our refineries. or 76 brands. In the Gulf Coast and East Coast regions, where highly integrated marketing and distribution At Dec. 31, 2019, we had approximately: infrastructure are not needed to secure refinery product placement, most sales are conducted via the unbranded channel of trade. We are 7,540 5,450 expanding our export capability at our U.S. coastal branded outlets in outlets utilized by refineries to meet growing international demand our wholesale and increase flexibility to provide product to the operations’ network highest-value markets. 48 of marketers states In addition, we produce and market aviation gasoline and , which are sold through dealers and independent marketers at approximately 810 Phillips 66 branded locations. 810 1,280 In the fourth quarter of 2019, we formed a retail sites with our Phillips 66 branded marketing joint venture with operations primarily brand-licensing locations that Our Marketing and Specialties segment agreements sell our aviation on the U.S. West Coast. The joint venture closed gasoline and jet on the acquisition of approximately 100 sites markets Phillips 66 and third-party fuel through dealers during the first half of 2020. Upon closing, the and independent joint venture will operate a network that includes refined petroleum products, such as marketers approximately 680 sites. This joint venture enables increased long-term placement of our refinery gasolines, distillates and aviation fuels, production and increases our exposure to retail 1,600 4,200 margins. mainly in the United States and Europe. sites reimaged total sites reimaged During 2019, we reimaged over 1,600 sites, bringing the total number of reimaged sites to This segment also includes the manufacturing and marketing of specialty products, during 2019 since 2015 approximately 4,200 since the inception of our such as base oils and lubricants. program in 2015.

PHILLIPS 66 2020 FACT BOOK 24 OUR BUSINESSES OUR STRATEGY MIDSTREAM CHEMICALS REFINING MARKETING AND SPECIALTIES ENERGY RESEARCH & INNOVATION GLOBAL ASSET MAP GENERAL INFORMATION

U.S. Marketing International Marketing Specialties

JET Branded Marketing Site BERLIN, GERMANY

In addition, we own a 49% interest in a joint venture that markets refined petroleum products in Switzerland under the COOP brand name. We also market aviation fuels, LPG, heating oils, marine bunker fuels, and other secondary refined products to commercial customers and into the bulk or spot markets.

At Dec. 31, 2019, we had: 1,280 marketing outlets in Europe, of which 980 were company owned and

300 were dealer owned

We had interests in 320 We have marketing operations in four additional sites through our COOP joint venture operations European countries. in Switzerland Our European marketing strategy is to sell primarily through owned, leased or joint venture retail sites using a low-cost, high-volume approach. We use the JET brand name to market retail and wholesale products in Austria, Germany and the United Kingdom.

During 2019, we added: We launched the rollout of our 23 new JET image in Europe and reimaged approximately new JET branded sites and 80 4 sites new COOP sites COOP Branded Marketing Site HUNZENSCHWIL, SWITZERLAND

PHILLIPS 66 2020 FACT BOOK 25 OUR BUSINESSES OUR STRATEGY MIDSTREAM CHEMICALS REFINING MARKETING AND SPECIALTIES ENERGY RESEARCH & INNOVATION GLOBAL ASSET MAP GENERAL INFORMATION

U.S. Marketing International Marketing Specialties

Lake Charles Refinery Excel Paralubes WESTLAKE, LA

We manufacture and sell automotive, commercial, industrial and specialty lubricants, which are marketed worldwide under the Phillips 66, Kendall, Red Line and other private label brands. We also market Group III Ultra-S base oils through an agreement with South Korea’s S-Oil Corporation. Excel Paralubes LLC (Excel) In addition, we own a 50% interest in Excel, a joint venture we operate that owns a hydrocracked lubricant base oil manufacturing plant located adjacent to the Lake Charles Refinery. The facility has a nameplate capacity to produce 22,200 BPD of high-quality Group II clear hydrocracked base oils. Excel markets the produced base oil under the Pure Performance brand. The facility’s feedstock is sourced primarily from our Lake Charles Refinery.

22,200 BPD of high-quality Group II clear hydrocracked base oils 50% ownership interest Other Specialty Products We market high-quality specialty graphite and anode-grade petroleum cokes in the United States, Europe and Asia for use in a variety of industries that include steel, aluminum, titanium dioxide and battery manufacturing. We also market polypropylene in North America under the COPYLENE brand name for use in consumer products, and market specialty solvents that include pentane, We manufacture lubricants and sell a variety of iso-pentane, hexane, heptane and odorless mineral spirits for use in the petrochemical, agriculture and consumer markets. In addition, we specialty products, including petroleum coke market sulfur for use in agricultural and chemical applications, and fuel-grade petroleum coke for use in the making of cement and glass, products, waxes, solvents and polypropylene. and power generation.

PHILLIPS 66 2020 FACT BOOK 26 OUR BUSINESSES OUR STRATEGY MIDSTREAM CHEMICALS REFINING MARKETING AND SPECIALTIES ENERGY RESEARCH & INNOVATION GLOBAL ASSET MAP GENERAL INFORMATION

Phillips 66 Research Center BARTLESVILLE, OK Improving operations We are improving operations, where our focus is applied and fundamental research to enhance the safety and reliability of our operations, support our current business, provide new environmental solutions and provide options for future growth that are aligned with the Phillips 66 strategy. Research programs include monitoring the quality of crude being processed; development and optimization of catalysts; modeling to anticipate corrosion and fouling rates in the refinery units; and modeling to increase product yield and reliability. Energy transition We are developing organic photovoltaic polymers, solid oxide fuel cells and battery materials. Sustainability We are helping our operations by modeling air chemistry and researching responsible water management. Innovative technologies We are focused on innovative technologies in emerging renewable fuels processes and a robotics program that was introduced in 2019 to identify ways to use robots to perform work that involves exposure to hazardous chemicals or Our Energy Research & 480 264 working environments, or work that is considered active patents research labs dedicated to highly repetitive. Innovation organization, held in providing advanced technical support for our operations, Additionally, we monitor the global research and located in Bartlesville, proactively finding ways to development community for technologies that 24 reduce our resource usage and could impact our business. Oklahoma, is focused on countries researching new technologies that can deliver value for our improving operations, shareholders in future years energy transition, sustainability and innovative technologies.

PHILLIPS 66 2020 FACT BOOK 27 OUR BUSINESSES OUR STRATEGY MIDSTREAM CHEMICALS REFINING MARKETING AND SPECIALTIES ENERGY RESEARCH & INNOVATION GLOBAL ASSET MAP GENERAL INFORMATION

Ferndale Ferndale Rail Terminal* Renton North Spokane Tacoma (MT) Yellowstone Cut Bank Moses Lake Thompson Falls Rail Spokane Terminal O LE E Portland Palermo* UR PE DD A Great Falls E I ST Portland (MT) Missoula Rail Terminal M Yello Glacier Sacagawea* Missoula wsto Helena Roundup Keene CDP* ne Billings Crude* Bozeman Billings Billings Humber SPCo & S-Chem ooth Sheridan*

Semino Bakk Beart en MiRO * Bayway Bighorn e* Linden* Q-Chem I & II Casper* Tremley Pt. (MT)* * Po

Rock Springs wd Bayway Rail

eminoe er Ri Terminal* S Harbor

Red Line Oil North Salt Lake Pioneer ve Des Moines

s r Sacramento Rockies Expr Hartford Lincoln ess Line 20 ess Richmond (MT) Rockies Expr San Francisco Denver Borg Conway Kansas City* Po LEGEND

0 Rockies Expres to Wichita wd er-Den Paola * Wood River Products* Gold Line CPChem (O&P) er Riv Wichita N.* HeartlandPaola* Blue Line 0 Wichita S.* E. St. ver Je erson City* Junction er Louis* Southern Hills* m Cherokee North* r*Hartford* CPChem Facility Line 30 re Line 40 ol Standish* La Junta * h Ponca City* Explo

his Ponca City ld Line Crude Terminal/Pipeline Go C Crude* 0 Los Angeles Medford* eeMount Vernon* ok t Los Angeles Borger Crude Terminal CherEas Torrance Cherokee Colton Borger to Amarillo* Blue LineSouth* In Progress/Under Development Glenpool* Ponca Selmer Line O* * CushPo* Albuquerque* K PL Sk AC ATA Line* elly ST Cushing City SA Oklahoma City* DCP Gathering Amarillo* -Belvieu Los Angeles AL Borger Oklahoma Crude* * Explor Fractionator Wichita Falls* Lubbock* Savannah North Texas Southern Hills*er Bakken* Fractionator

Crude * Gathering* In Progress/Under Development West Texas Odessa* Crude S Gathering* ke Excel Base Oil lly Lubricants Facility Wink -Belvi LLakake CCharlesharles Crane Sweeny Lake Charles Natural Gas Pipeline Line EZ eu Coke Handling Orange Sand Hills* AAllianclliance NGL/LPG Terminal/Pipeline Eagle Ford Riivvev r Pari Crude er Par LCPL Westlake risishsh Gr Gathering* SorrSorreentntoo Cavernerns* * Storage ay Oak* s** NGL/LPG Terminal/Pipeline Helena Cedar Beaumont Bayou Lake In Progress/Under Development Central Pasadena Charles Junction SouthSSoouth Texaxass Gatewayteway** NGL/LPG Underground Storage Facility Taft Bayou Bridge* Sweeny/ Gulf Coast Products Terminal/Pipeline Old Ocean CRMT Pecan Grove Sweeny Port Arthur PSXP Asset (asterisk on labels) GCF Pasadena Refinery Freeport C2G* San Bernard Shale Basin Clemens Caverns* Jones Creek Branded Marketing Footprint Sweeny 1*, 2, 3

PHILLIPS 66 2020 FACT BOOK 28 OUR BUSINESSES OUR STRATEGY MIDSTREAM CHEMICALS REFINING MARKETING AND SPECIALTIES ENERGY RESEARCH & INNOVATION GLOBAL ASSET MAP GENERAL INFORMATION

Central Hartford Terminal HARTFORD, IL

Information disclosed is as of March 31, 2020, unless otherwise noted.

Data Commonly Used Abbreviations Distillate capacity includes aviation fuels. The HDPE High-density polyethylene Nelson Complexity Factor calculation considers LDPE Low-density polyethylene the variety and capacity of the different processing units within a refinery. The higher a refinery’s factor, LLDPE Linear low-density polyethylene the greater its secondary conversion capacity and LPG Liquefied petroleum gas capability to produce higher-value products. NAO Normal alpha olefins NGL Natural gas liquids Contact Information PAO Polyalphaolefins Principal and Registered Offices Phillips 66 PVC Polyvinyl chloride P.O. Box 421959 Houston, TX 77242-1959 Units of Measure 251 Little Falls Drive Wilmington, DE 19808 Bcf/d Billion cubic feet per day BPD Barrels per day Investor Relations 800-624-6440 kMTA Thousand metric tons per year [email protected] MBbl Thousand barrels investor.phillips66.com MBD Thousand barrels per day

Media Relations MMcf/d Million cubic feet per day 855-841-2368 This document contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and [email protected] MMLB/Y Million pounds per year Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Words and phrases such as “is anticipated,” “is estimated,” “is expected,” “is planned,” “is scheduled,” “is targeted,” “believes,” “continues,” “intends,” newsroom.phillips66.com MMTA Million metric tons per year “will,” “would,” “objectives,” “goals,” “projects,” “efforts,” statements about strategies and statements that include similar expressions are used to identify such forward-looking statements. However, the absence of these words does not mean that a statement is not forward-looking. This Fact Book can be obtained by visiting Forward-looking statements included in this document are based on management’s expectations, estimates and projections as of the date they investor.phillips66.com. are made. These statements are not guarantees of future performance and you should not unduly rely on them as they involve certain risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed Phillips 66, Conoco, 76, Kendall, Red Line, JET and COPYLENE are registered trademarks of Phillips 66 Company. or forecast in such forward-looking statements. Factors that could cause actual results or events to differ materially from those described in the forward-looking statements include fluctuations in NGL, crude oil, and , and petrochemical and refining margins; unexpected Other names and logos mentioned herein are the trademarks of their respective owners. changes in costs for constructing, modifying or operating our facilities; unexpected difficulties in manufacturing, refining or transporting our 20-0052 ©2020 Phillips 66 Company. All rights reserved. products; lack of, or disruptions in, adequate and reliable transportation for our NGL, crude oil, natural gas, and refined products; potential liability from litigation or for remedial actions, including removal and reclamation obligations under environmental regulations; limited access to capital or significantly higher cost of capital related to illiquidity or uncertainty in the domestic or international financial markets; potential disruption of our operations due to accidents, weather events, including as a result of climate change, terrorism or cyberattacks; general economic and political developments including: armed hostilities; expropriation of assets; changes in governmental policies relating to NGL, crude oil, natural gas or refined petroleum products pricing, regulation or taxation; and other political, economic or diplomatic developments, including those caused by public health issues and outbreaks; the impact of adverse market conditions or other similar risks to those identified herein affecting PSXP, as well as the ability of PSXP to successfully execute its growth plans; and other economic, business, competitive and/or regulatory factors affecting Phillips 66’s businesses generally as set forth in our filings with the Securities and Exchange Commission. Phillips 66 is under no obligation (and expressly disclaims any such obligation) to update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.

PHILLIPS 66 2020 FACT BOOK 29