|Attn: Broadridge Financial Solutions|
|1155 Long Island Avenue|
|Edgewood, New York 11717|
|Attn: Prospectus Department|
|180 Varick Street, 2nd Floor|
|New York, NY 10014|
Phillips 66 Partners LP, a wholly owned subsidiary of Phillips 66 (NYSE: PSX), has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (SEC) related to its proposed initial public offering of common units representing limited partner interests. The offering is expected to occur in the second half of this year. Phillips 66 Partners anticipates the common units will trade on the New York Stock Exchange under the ticker symbol “PSXP”. The number of common units to be offered and the price range for the offering have not yet been determined. Phillips 66 Partners expects to receive gross proceeds from the offering in the amount of approximately $300 million, excluding proceeds from any exercise of the underwriters’ over-allotment option to purchase additional common units. Phillips 66 formed Phillips 66 Partners to own, operate, develop and acquire primarily fee-based crude oil, refined petroleum product and natural gas liquids pipelines and terminals and other transportation and midstream assets. Headquartered in Houston, Phillips 66 Partners expects its initial assets to include the Clifton Ridge crude oil pipeline, terminal and storage system in Louisiana; the Sweeny to Pasadena refined petroleum product pipeline, terminal and storage system in Texas; and the Hartford Connector refined petroleum product pipeline, terminal and storage system in Illinois. J.P. Morgan and Morgan Stanley are acting as joint book-running managers for the proposed offering. The offering will be made only by means of a prospectus. Once it becomes available, potential investors can obtain a preliminary prospectus related to this offering from:
When available, to obtain a copy of the preliminary prospectus free of charge, visit the SEC’s website and search under “Phillips 66 Partners LP”.