Phillips 66 · NYSE:PSX
Phillips 66 — Merger or Acquisition (January 2025)
8 slides from Phillips 66's merger presentation, Jan 6, 2025
Slide 1: Expanding Permian Midstream Portfolio: EPIC NGL Acquisition
PHILLIPS Expanding Permian / Midstream Portfolio’ EPIC NGL Acquisition January 6, 2025
Slide 2: Cautionary Statement
3 Cautionary Statement Cautionary Statement for the Purposes of the “Safe Harbor” Provisions of the Private Securities Litigation Reform Act of 1995 —This presentation contains forward-looking statements within the meaning of the federal securities laws. Words such as “anticipated,” “estimated,” “ex
Slide 3: EPIC Acquisition Bolsters Wellhead-to-Market Strategy
EPIC Acquisition Bolsters Wellhead-to-Market Strategy Acquisition Supports Takeaway Capacity from Permian with Optionality to Geographically Diverse Outlets Enhancing Phillips 66 Posit Expands and diversifies Permian supply portfolio Delivers additional Permian takeaway capacity needed for contracte
Slide 4: EPIC NGL Integrates Into Our Wellhead-to-Market Value Chain
EPIC NGL Integrates Into Our Wellhead-to-Market Value Chain Creating a differentiated, reliable, and geographically diverse solution for customers Permian Y-grade egress * Multi-pipeline egress delivering into Corpus Christi, Sweeny, and Mont Belvieu fractionation areas provides comprehensive flow a
Slide 5: Adjusted EBITDA Growth ($B)
ADJUSTED EBITDA GROWTH ($B) 3.7 4.0 3.3 2.7 2.1 2021 2022 2023 3Q 2024 TTM Post-Deal Closure Mid-Cycle
Slide 6: Growing Midstream Earnings: Wellhead-to-Market Integration
Growing Midstream Earnings: Wellhead-to-Market Integration Permian and Eagle Ford takeaway projected to be at capacity through 2030 MIDSTREAM MID-CYCLE ADJUSTED EBITDA ($B) WELLHEAD-TO-MARKET NGL PORTFOLIO? (MBD) Permian + Eagle Ford Total Phillips 66 Gathering & + $1 7 B Processing + . Long Term 3r
Slide 7: Footnotes
ootnotes 2022 mid-cycle adjusted EBITDA represented targeted mid-cycle adjusted EBITDA that we presented at our November 2022 Investor Day. This mid-cycle adjusted EBITDA target was based on historical average adjusted EBITDA for our Refining and Chemicals operating segments and adjusted 2021 EBITDA
Slide 8: Reconciliations
P Reconciliations Millions of Dollars SepYTD 3@2024 2021 2022 2023 42023 2024 TT™ Reconciliation of Midstream Income before Income Taxes to Adjusted Income before income taxes 1131 5,176 2,819 759 1,965 2,724 Plus: Depreciation and amortization 426 567 923 234 686 920 Midstream EBITDA 1,557 5,743 3,