Phillips 66 DCP Merger Proposal

Non-GAAP Reconciliation Proportional Share of Select Equity Affiliates Capital Expenditures and Investments* CPChem (Chemicals) Growth Sustaining Total WRB (Refining) Select Equity Affiliates * SA EA Millions of Dollars 2019 2020 2021 2022 2023 Budget 155 104 191 499 702 227 180 176 202 223 382 284 367 701 925 175 175 229 177 216 557 459 596 878 1,141 Represents Phillips 66's portion of self-funded capital spending by DCP Midstream, LLC (DCP Midstream), Chevron Phillips Chemical Company LLC (CPChem) and WRB Refining LP (WRB). PHILLIPS 45 66

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