Slide 1: Sustainability & ESG Overview
PHILLIPS 66) ® PROVIDING ENERGY. IMPROVING LIVES. Sustainability & ESG Overview MEETING THE WORLD’S EVOLVING ENERGY NEEDS October 2022
Slide 2: Cautionary Statement
| Cautionary Statement CAUTIONARY STATEMENT FOR THE PURPOSES OF THE “SAFE HARBOR” PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995. This presentation contains certain forward-looking statements. Words and phrases such as “anticipated,” “estimated,” “expected,” “planned,” “scheduled
Slide 3: CEO Message
| CEO Message Positioning Phillips 66 for Continued Long-Term Competitiveness To Our Stakeholders: At Phillips 66, sustainability is a journey of improvement, adaptation and business resilience. It shapes how we define and execute our strategy that enables us to deliver on our vision to provide ener
Slide 4: A Decade of Sustainability & ESG Progress
| A Decade of Sustainability & ESG Progress Committed to Continuous Improvement Through Business Integration and Enhanced ESG Disclosures Since 2012 ‘Set 2050 GHG emissions reduction target Humber Refinery delivers first barrels of ‘Sustainable Aviation Fuel Sponsor Truckers Agalnt Taichi, Announced
Slide 5: Our Businesses: Today and Tomorrow
| Our Businesses: Today and Tomorrow Providing Energy While Enhancing Our Core Businesses and Advancing Lower-Carbon Opportunities Transforming Our Business AND Building a Lower-Carbon Growth Platform Strengthening our resilience and competitiveness in any market Extending through value chain adjace
Slide 6: Executing the Strategy
| Executing the Strategy Enabling Long-Term Value Creation and Positioning for the Future Vision Strategy Providing Energy. Improving Lives. Operating Excellence Committed to safety, environmental stewardship, reliability and cost efficiency, while protecting shareholder value Values Growth Enhancin
Slide 7: Our Approach to Sustainability & ESG
Our Approach to Sustainability & ESG Integrated with Company Strategy to Support Long-Term Resilience Ferndale Refinery FERNDALE, WA Financial Performance Operating Excellence Delivering shareholder value through Ensuring personal and process safety, our disciplined approach to capital environmental
Slide 8: Environmental Stewardship
| Environmental Stewardship PHBewpS) 66. SUSTAINAsILITY.
Slide 9: Greenhouse Gas (GHG) Emissions Reduction Targets
Greenhouse Gas (GHG) Emissions Reduction Targets Lower-Carbon Solutions Consistent with our Strategy and Disciplined Approach to Capital Allocation Emissions Reduction Targets Intend to lower GHG emissions intensity from 2019 baseline 2030 Targets 2050 Target ie) 9 30% 50% Manufacturing-related Manu
Slide 10: Drivers of Our GHG Emissions Reduction Targets
mz Drivers of Our GHG Emissions Reduction Targets Advancing Lower-Carbon Solutions Through Innovative Energy Investments and Strategic Collaborations — mA Advance solutions such as solid oxide fuel cells and next-gen batteries Work with industries, manufacturers and suppliers to deploy solutions at-
Slide 11: Managing Natural Capital and Biodiversity
Managing Natural Capital and Biodiversity Improving Air, Waste and Water Management and Elevating Conservation and Biodiversity Initiatives 2013-2021 Improvements Conservation and Collaboration 24% 1% 70% 77% Reduction in criteria air pollutants Reduction in waste Reduction in number of hydrocarbon
Slide 12: Social Responsibility and Stakeholder Engagement
Social Responsibility and Stakeholder Engagement
Slide 13: Advancing Our Safety Culture Through Digital Innovation
| Advancing Our Safety Culture Through Digital Innovation Integrated Health, Safety and Environmental Policies, Practices and Programs and Investment throughout our Businesses Industry Safety Metrics (Total Recordable Rate (TRR) Incidents per 200,000 hours worked) A 6 4 Average for all US industries
Slide 14: Enhancing Our High-Performing Organization
| Enhancing Our High-Performing Organization Leading with Inclusion to Create a Diverse Workforce Embedding Inclusion & Where we have been Where we are Where we are going Diversity in our Culture Set the foundation Accelerating change Inclusive culture Expanded Networks and Processes To reach experi
Slide 15: Creating Value Through Stakeholder Engagement
| Creating Value Through Stakeholder Engagement Building Trust Through Transparency and Social Impact Stakeholder Engagement is integral to our Helping Strengthen Communities through Comprehensive Social Responsibility Social Impact Programs Year-round, holistic engagement programs, reaching many Ed
Slide 16: Governance
Governance
Slide 17: Risk Management and Oversight
| Risk Management and Oversight Using a Detailed and Disciplined Process to Identify Potential Risks and Opportunities Risk Overview We assess risks based on probability of the risk and potential Cybersecurity _ significance of the financial, reputational or other impacts, and Protecting our systems
Slide 18: Foundational Governance and Ethics
Foundational Governance and Ethics Demonstrated at Every Level of Our Organization Board Oversight and Governance Committees Providing oversight of strategy, risks and policies Audit and Finance Committee Human Resources and Compensation Committee Nominating and Governance Committee Public Policy an
Slide 19: Improved ESG Ratings
| Improved ESG Ratings Enhanced Disclosures and Focused Engagement Has Improved Third-Party Assessments ISS CORPORATE SOLUTIONS “Low risk" in the areas of Environmental & Social, and Cybersecurity MSCl oO SUSTAINALYTICS ‘a Morningstar company CENTER FOR POLITICAL ACCOUNTABILITY “A-level” rating, as
Slide 20: ESG Summary
ESG Summary Sustainability & ESG are at the heart of our vision to provide energy in ways that improve lives, and recent enhancements to our ESG strategy and disclosures demonstrate our commitment to deliver on this vision Environmental Social Governance Highlights Highlights Highlights Environmenta
Slide 21: Appendix
| Appendix ‘ “iy g ><" san Franciice Refinery RODEO, CA ‘s hed % E - 9 PHILLIPS, 66 “SUSTAINABILITY & EBSYOVERVIE i 21
Slide 22: Integrated, Diversified Portfolio
Integrated, Diversified Portfolio e @, o San Francisco ry ay Los Angeles PHILLIPS 66 SUSTAINABILITY & ESG OVERVIEW GLOBAL ASSETS MAP LEGEND @ Batteries @ Coke Facility @ cPChem i] cPChem Facility (O&P) @ — Crude Terminal/Pipeline DCP Gathering @ = Fractionator © Fractionator in Progress © Hydrogen F
Slide 23: Integrated Network of Businesses and Assets
| Integrated Network of Businesses and Assets Positioned to Create Value Through Our Assets, Market Position and Competitive Advantages GLOBAL MARKETS Transportation Fuels (Conventional, Renewable) Needle Coke = Lubricants, © Specialty Products Pipelines Marine Rail Truck Renewable Feedstocks © > Te
Slide 24: Footnotes
Ls Footnotes All data in this Overview are as of December 31, 2021, unless otherwise noted A Decade of Sustainal 1. 2. 3. ity & ESG Progress AdvantEdge66 is our center for ongoing, enterprise-wide transformation. It makes the company more smart, agile and efficient. Our Energy in Action (OEIA) is a
Slide 25: Footnotes
Ls Footnotes Greenhouse Gas (GHG) Emissions Reduction Targets, cont. 4, 2030 emissions intensity reduction targets include estimated impacts from planned projects such as Rodeo Renewed, Humber Gigastack Consortium, Humber Used Cooking Oil (UCO) and others. Potential carbon capture, renewable fuels a
Slide 26: Footnotes
Ls Footnotes Advancing Our Safety Culture Through Digital Innovation 1. Industry safety metrics graph from the Bureau of Labor Statistics, 2020 data; Phillips 66, 2021 data. Our safety culture, comprehensive HSE policies, management systems and the commitment of everyone who worked for us resulted i