Phillips 66

htm EX-99.1 Document Exhibit 99.1 Reported third-quarter earnings and adjusted earnings of $5.6 billion or $14.08 per share Refining utilization of 98% with record Central Corridor processed inputs of 848 MBD Third-quarter record distillate yield of 41% clean product yield of 86% Midstream fractionation volumes of 1 MMBD, wellhead volumes of 4.6 Bcf D and 105% utilization at the Freeport LPG export dock Returned $2.8 billion to shareholders through dividends and share repurchases Decreased total debt by $2.0 billion to $18.5 billion net debt by $3.8 billion to $12.7 billion HOUSTON, October 28, 2026 Phillips 66 (NYSE PSX) announced third-quarter earnings.

SEC original ↗Phillips 66 — Earnings release (8-K exhibit)EX-99Oct 28, 2026

We target returning more than 50% of net operating cash flow to shareholders and delivering attractive, sustainable dividend growth across commodity cycles.

SEC original ↗Phillips 66 — Earnings release (8-K exhibit)EX-99Oct 28, 2026

Our recently announced second dividend increase of 2026 reinforces the company s commitment to prudent long-term returns of capital.

SEC original ↗Phillips 66 — Earnings release (8-K exhibit)EX-99Oct 28, 2026

References in the release to return of capital to shareholders refer to the sum of dividends paid to Phillips 66 stockholders and proceeds used by Phillips 66 to repurchase shares of its common stock.

SEC original ↗Phillips 66 — Earnings release (8-K exhibit)EX-99Oct 28, 2026

5 Returns to Shareholders percentage is calculated as repurchases of common stock plus dividends paid on common stock divided by cash flow from operations, excluding working capital.

SEC original ↗Phillips 66 — Presentation / slide deck (8-K exhibit)EX-99Oct 28, 2026

com Use of Non-GAAP Financial Information This news release includes the terms adjusted earnings (loss), adjusted pre-tax income (loss), adjusted EBITDA, adjusted earnings per share, adjusted controllable cost, cash from (used in) operations, excluding working capital, realized refining margin, net debt, and net debt-to-capital ratio.

SEC original ↗Phillips 66 — Earnings release (8-K exhibit)EX-99Oct 28, 2026

Our integrated portfolio, commercial capabilities and focus on continuous improvement enable the company to create value for stakeholders.

SEC original ↗Phillips 66 — Earnings release (8-K exhibit)EX-99Oct 28, 2026

Progressed the Coastal Bend expansion project, with initial volumes expected in the fourth quarter of 2026 and full ramp-up to 350 MBD in early 2027.

SEC original ↗Phillips 66 — Earnings release (8-K exhibit)EX-99Oct 28, 2026

Investor Webcast Members of Phillips 66 executive management will host a webcast at noon ET to provide an update on the company s strategic initiatives and discuss the company s third-quarter performance.

SEC original ↗Phillips 66 — Earnings release (8-K exhibit)EX-99Oct 28, 2026

Cautionary Statement for the Purposes of the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995 This news release contains forward-looking statements within the meaning of the federal securities laws relating to Phillips 66 s operations, strategy and performance.

SEC original ↗Phillips 66 — Earnings release (8-K exhibit)EX-99Oct 28, 2026

Words such as anticipated, estimated, expected, planned, scheduled, targeted, believe, continue, intend, will, would, objective, goal, project, efforts, strategies and similar expressions that convey the prospective nature of events or outcomes generally indicate forward-looking statements.

SEC original ↗Phillips 66 — Earnings release (8-K exhibit)EX-99Oct 28, 2026

3 Pipelines represent the sum of volumes transported through each separately tariffed consolidated pipeline segment, excluding NGL's pipelines.

SEC original ↗Phillips 66 — Presentation / slide deck (8-K exhibit)EX-99Oct 28, 2026

3 Legal accrual primarily related to ongoing litigation with Propel Fuels, Inc.

SEC original ↗Phillips 66 — Earnings release (8-K exhibit)EX-99Oct 28, 2026

These statements are not guarantees of future events or performance, and you should not unduly rely on them as they involve certain risks, uncertainties and assumptions that are difficult to predict.

SEC original ↗Phillips 66 — Earnings release (8-K exhibit)EX-99Oct 28, 2026

EPS — prior quarter passage and this quarter's passage are both cited.

SEC original ↗Phillips 66 — Earnings release (8-K exhibit)EX-99Oct 28, 2026