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Press release from Business Wire

Phillips 66 Contributes to Hurricane Isaac Disaster Relief

Friday, August 31, 2012

Phillips 66 Contributes to Hurricane Isaac Disaster Relief21:27 EDT Friday, August 31, 2012 HOUSTON (Business Wire) -- Phillips 66 (NYSE:PSX) will contribute $500,000 to the American Red Cross to assist relief operations following Hurricane Isaac and flooding in the Gulf Coast region. In addition, the company will match employee contributions for disaster relief. "Our thoughts and prayers go out to all those impacted by Hurricane Isaac, including our many employees, friends and neighbors across the Gulf Coast,” said Greg Garland, chairman and chief executive officer of Phillips 66. “We are extremely thankful that all of the employees at our Alliance Refinery in Belle Chasse, La., and their immediate families are safe, though some have experienced significant damage to their homes and property. We also are offering financial assistance to those employees who have experienced significant damage to their homes.” About Phillips 66 Headquartered in Houston, Phillips 66 is an advantaged downstream energy company with segment-leading Refining and Marketing (R&M), Midstream and Chemicals businesses. The company has approximately 14,000 employees worldwide. Phillips 66's R&M operations include 15 refineries with a net crude oil capacity of 2.2 million barrels per day, 10,000 branded marketing outlets, and 15,000 miles of pipeline systems. In Midstream, the company primarily conducts operations through its 50 percent interest in DCP Midstream, LLC, one of the largest natural gas gatherers and processors in the United States, with 7.2 billion cubic feet per day of gross natural gas processing capacity. Phillips 66's Chemicals business is conducted through its 50 percent interest in Chevron Phillips Chemical Company LLC, one of the world's top producers of olefins and polyolefins with more than 30 billion pounds of net annual chemicals processing capacity across its product lines. For more information, visitwww.phillips66.com. Phillips 66Dean Acosta (media), 832-765-1040dean.acosta@p66.com