Credit Suisse Conference Greg C. Garland Chairman and CEO February 13, 2018 NYSE: PSX www.phillips66.com Lake Charles Refinery
Executing Strategy Leading Operating Excellence Growth CPChem USGC Petrochemicals Project Phillips 66 Partners Bakken Pipeline Beaumont Terminal Sweeny Hub Returns Refinery yield and feedstock flexibility projects U.S. marketing…
Operating Excellence Total Recordable Rates Refining Environmental Metrics (Incidents per 200,000 Hours Worked) (No. of events) Industry Average 13 14 15 16 17 317 302 279 264 240 Phillips 66 CPChem DCP Midstream 2013 2014 2015…
Environmental, Social, Governance Extensive ESG engagement Industry Safety Metrics (Incidents per 200,000 Hours Worked) 6 Board engaged in setting company ESG strategy 4 2 Record low reportable environmental events 0 Agricul.,…
U.S. Crude Oil and Gas Plant NGL Production Source: I.H.S., April 2017 5
Midstream 2018E Annual Year-End Run-Rate Adjusted EBITDA (B) Platform for growth 1.8 2.0 Focus on NGL value chain Expand crude and products 0.6 PSX export capability PSX PSXP 2018E year-end run-rate PSXP PSXP 1.0 1.1 adjusted…
Phillips 66 Partners Distribution Growth (cents/unit) Funding Midstream growth Organic growth opportunities Sand Hills Pipeline expansions (TX) Bayou Bridge Pipeline extension (LA) Lake Charles Isomerization Unit (LA) 67.8 64.6…
DCP Midstream DJ Basin Well positioned in low-cost supply basins 0.9 Bcf/d processing capacity Strong growth projects around existing footprint Sand Hills NGL Pipeline expansions to 365 MBD in 1Q 2018, 450 MBD in 2H 2018 Permian…
Chemicals Outlook 2018E Average Ethylene Production Cost Curve Middle East ethane and North (/Ton) America NGLs remain positioned at Asia Coal the low end of the cost curve 1,000 M.E. Naphtha Ethylene demand growth outpacing W.…
CPChem USGC Petrochemicals Project 1,000 kMTA polyethylene at Old Ocean, TX Started operations 3Q 2017 1,500 kMTA ethylene at Cedar Bayou, TX Mechanical completion 4Q 2017 Commissioning 1Q 2018 Long-term mid-cycle EBITDA 1.2-1.4 B…
Refining Improving returns PSX Global Clean Product Yield Billings heavy crude project (2Q 2017) Ponca City yield flexibility (4Q 2017) 85.5% 84.6% 84.1% 84.4% 84.6% Wood River FCC modernization (2Q 2018) 2013 2014 2015 2016…
Marketing and Specialties Stable, high-return businesses Marketing Enhancing U.S. fuels brands 3% volume uplift at reimaged sites Adding 25-30 European sites per year Expanding brand licensing Providing ratable refinery off-take…
Capital Allocation Maintain financial strength, strong 2015 2017 investment-grade credit rating Fund sustaining capital expenditures Distributions Pay a growing, secure and competitive Reinvestment dividend 60% reinvestment and…
Capital Expenditures Consolidated Capital Expenditures (B) 2018E Consolidated 2.3 B 5.8 Phillips 66 2018E 1.7 B 3.8 0.8 B Growth 2.8 0.9 B Sustaining 2.3 1.8 1.8 Phillips 66 Partners 2018E 0.6 B 2013 2014 2015 2016 2017…
Distributions Important source of shareholder value Annual Dividend (/share) Growing, secure, and competitive 2.73 dividend 1.89 2.18 2.45 1.33 30% CAGR with seven increases since May 2012 2013 2014 2015 2016 2017 Cumulative…
Creating Value Mid-Cycle Incremental Run-Rate Adjusted EBITDA 1.5 B long-term expected (B) EBITDA growth from projects coming online 2017-2018 1.5 Shifted from heavy-investment period to increasing net cash generation Continued…
Footnotes Forecasted and Estimated EBITDA We are unable to present reconciliations of various forecasted and estimated EBITDA included in this presentation, because certain elements of net income, including interest, depreciation and…
Non-GAAP Reconciliation (slide 3) Millions of Dollars 2013 2014 2015 2016 2017 Production and operating expenses 4,206 4,435 4,294 4,275 4,699 Selling, general and administrative expenses 1,478 1,663 1,670 1,638 1,695 5,684 6,098…
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