Phillips 66 DCP Merger Proposal

Chevron Phillips Chemical Industry-leading safety performance Proprietary technology Advantaged feedstock portfolio Global marketing network Debottleneck opportunities Capital Expenditures and Investments¹ ($B) 1) 0.4 0.4 0.3 0.7 Sustaining Growth 0.9 Adjusted EBITDA¹ ($B) 1.5 1.1 19 2.5 1.4 0.3 20 20 21 22 1Q23 Olefins and Polyolefins Capacity Utilization (%) 99% 97% 95% 94% 91% 19 20 21 22 23B 19 20 21 22 1Q23 50% proportional share to Phillips 66. PHILLIPS 16 66

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