Phillips 66 Announces First Quarterly Dividend

Phillips 66 (NYSE: PSX) announces a quarterly dividend of 20 cents per share on Phillips 66 common stock. This dividend is payable Sept. 4, 2012, to stockholders of record at the close of business on July 23, 2012.

"Phillips 66 has a clear strategy to improve returns and to deliver a strong, competitive dividend program to our investors," said Chairman and CEO Greg C. Garland. "We are convinced that returns, growth and distributions create value."

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, visit www.phillips66.com.