Phillips 66 · NYSE:PSX
Phillips 66 — Shareholder Meeting (May 2020)
15 slides from Phillips 66's shareholder meeting presentation, May 6, 2020
Slide 1: Annual Meeting of Shareholders
Annual Meeting of Shareholders GREG GARLAND Chairman & Chief Executive Officer MAY 6, 2020 Sweeny Complex OLD OCEAN, TX
Slide 2: Cautionary Statement
Cautionary Statement This presentation contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Wo
Slide 3: Board of Directors
Board of Directors Greg C. Garland Gary K. Adams J. Brian Ferguson Charles M. Holley John E. Lowe Harold W. McGraw III Denise L. Ramos Glenn F. Tilton Victoria J. Tschinkel Marna C. Whittington 3 As of Jan. 1, 2020.
Slide 4: Responses to the Challenging Environment
Responses to the Challenging Environment Protecting the health and safety of our employees Supporting the communities where we live and work Ensuring the financial and operating strength of the company Phillips 66 Headquarters HOUSTON, TX 4
Slide 5: Providing Energy, Improving Lives
Providing Energy, Improving Lives 14,600 EMPLOYEES live our values, every day 469,000 HOURS volunteered in local communities since 2012 $39.5 MILLION in matching gifts and volunteer grants since 2012 $191 MILLION to organizations promoting education and literacy, sustainability, safety, and civic en
Slide 6: Operating Excellence
Operating Excellence Total Recordable Rates Refining Crude Capacity Utilization INCIDENTS PER 200,000 HOURS WORKED % 96% 95% 95% Phillips 66 CPChem DCP Midstream 94% 93% 91% 91% 91% Industry Average 90% 90% 1.03 15 16 17 18 19 .86 .83 Phillips 66 U.S. Industry Average .79 Industry Safety Metrics INC
Slide 7: Growth
Growth Gray Oak Pipeline Sweeny Hub Beaumont Terminal Bayou Bridge Pipeline South Texas Gateway Terminal C2G Pipeline World-scale petrochemical projects La Pryor Storage Terminal Gray Oak Pipeline LA PRYOR, TX 7
Slide 8: Returns
Returns Lake Charles isomerization unit Diesel maximization and LSFO projects Crude flexibility projects FCC modernizations Renewable diesel opportunities Marketing site reimaging program U.S. West Coast retail marketing JV Lake Charles Isomerization Unit WESTLAKE, LA 8
Slide 9: Distributions
Distributions Secure, competitive and growing dividend Annual Dividend $ PER SHARE 12.5% increase in 2Q19 to $0.90 per share 3.10 3.50 2.45 2.73 2.18 25% CAGR with nine increases since May 2012 Committed to shareholder distributions 15 16 17 18 19 Returned $3.2 B in 2019 through dividends and share
Slide 10: High-Performing Organization
High-Performing Organization Culture Capability Performance Building capabilities, pursuing excellence and doing the right thing. 10
Slide 11: Environmental, Social, Governance
Environmental, Social, Governance $1.1 B invested in safety, environmental and reliability in 2019 27% decline in SOx, NOx and PM emissions intensity from 2012 to 2019 25x lower total recordable rate in 2019 vs. U.S. manufacturing average 60% lower lost workday case rate in 2019 vs. U.S. refining av
Slide 12: Energy Transition
Energy Transition POSITIONING PHILLIPS 66 TO BE COMPETITIVE LONG-TERM What we are doing Producing renewable diesel at Humber Refinery Supplying components for lithium ion batteries Marketing low carbon fuels on U.S. West Coast Improving fuel economy through next generation lubricants Installed hydro
Slide 13: Compelling Investment
Compelling Investment OPERATING EXCELLENCE Total Shareholder Return Since IPO % 340% PSX +179% GROWTH S&P 100 +150% 300% 260% Peers +57% 220% RETURNS 180% 140% DISTRIBUTIONS 100% 60% HIGH-PERFORMING ORGANIZATION 20% -20% May-12 May-13 May-14 May-15 May-16 May-17 May-18 May-19 May-20 Share price as o
Slide 14: Safety. Honor. Commitment.
Safety. Honor. Commitment. Albuquerque International Balloon Fiesta ALBUQUERQUE, NM
Slide 15: Footnotes
Footnotes Date Conventions 19 is as of December 31, 2019; or the twelve-month period ended December 31, 2019, as applicable; except as otherwise noted. Slide 6 Chevron Phillips Chemical Company LLC is abbreviated as CPChem. Industry averages are from: Phillips 66 – American Fuel & Petrochemical Manu