Phillips 66 DCP Merger Proposal

Non-GAAP Reconciliation 2019 2020 Millions of Dollars 2021 Phillips 66 Capital Expenditures and Investments* Midstream Growth Sustaining Total Refining Growth Sustaining Total 2022 2023 Budget 1,549 1,471 501 744 310 251 204 232 299 329 1,800 1,675 733 1,043 639 464 328 280 477 729 606 499 504 451 389 1,070 827 784 928 1,118 Marketing & Specialties Growth 299 114 147 48 95 Sustaining 75 59 55 41 39 Total 374 173 202 89 134 Corporate & Other Growth Sustaining Total Total Consolidated 7 4 1 199 180 140 127 108 206 184 141 134 108 Growth 2,319 1,917 929 1,276 1,134 Sustaining 1,131 942 931 918 865 Adjusted Capital Spending 3,450 2,859 1,860 2,194 1,999 Capital Spending Funded by Certain Joint Venture Partners 423 61 _ ― Total Capital Spending 3,873 2,920 1,860 2,194 1,999 * Refer to changes in "Basis of Presentation" discussion on pg 2 PHILLIPS 46 66

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