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Phillips 66 Partners Files Registration Statement For Initial Public Offering

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This news release shall not constitute an offer to sell or the solicitation of an offer to buy the securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

FORWARD-LOOKING STATEMENTS

This news release contains certain forward-looking statements within the meaning of the federal securities laws. Words and phrases such as “is anticipated,” “is estimated,” “is expected,” “is planned,” “is scheduled,” “is targeted,” “believes,” “intends,” “objectives,” “projects,” “strategies” and similar expressions are used to identify such forward-looking statements. However, the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements relating to Phillips 66’s or Phillips 66 Partners’ operations (including Phillips 66’s joint venture operations) are based on management’s expectations, estimates and projections about the company, its interests and the energy industry in general on the date this news release was prepared. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict, and there can be no assurance that actual outcomes and results will not differ materially from those expected by management of Phillips 66 or Phillips 66 Partners. Factors that could cause actual results or events to differ materially from those described in the forward-looking statements include the risk that an initial public offering of Phillips 66 Partners may not occur; risks relating to the securities markets generally; the impact of adverse market conditions affecting Phillips 66's midstream business or Phillips 66 Partners’ business; adverse changes in laws, including with respect to tax and regulatory matters; fluctuations in crude oil, natural gas liquids (NGL), and natural gas prices, refining and marketing margins and margins for Phillips 66’s chemicals business; unexpected changes in costs for constructing, modifying or operating our facilities; unexpected difficulties in manufacturing, refining or transporting refined products; lack of, or disruptions in, adequate and reliable transportation for Phillips 66’s crude oil, natural gas, NGL, and refined products; potential liability for remedial actions, including removal and reclamation obligations, under environmental regulations; potential liability resulting from litigation; limited access to capital or significantly higher cost of capital related to illiquidity or uncertainty in the domestic or international financial markets; and other economic, business, competitive and/or regulatory factors affecting Phillips 66’s or Phillips 66 Partners’ businesses generally as set forth in the registration statement relating to these securities and Phillips 66’s most recent annual report on Form 10-K, each filed with the Securities and Exchange Commission. Neither Phillips 66 nor Phillips 66 Partners undertake any obligation to update or revise such forward-looking statements to reflect events or circumstances that occur, or which Phillips 66 or Phillips 66 Partners becomes aware of, after the date hereof.

Photos/Multimedia Gallery Available: http://www.businesswire.com/multimedia/home/20130327006467/en/

Copyright Business Wire 2010
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