Phillips 66 Partners LP, a limited partnership formed earlier this year by Phillips 66 (NYSE: PSX), announced the pricing of its initial public offering of 16,425,000 common units representing limited partner interests at $23.00 per common unit. The common units will begin trading on the New York Stock Exchange today under the ticker symbol “PSXP.” The underwriters of the offering have a 30-day option to purchase up to an additional 2,463,750 common units from Phillips 66 Partners to cover over-allotments, if any. The offering is expected to close on or about July 26, 2013, subject to customary closing conditions. At the closing of this offering, the public will own a 22.9 percent limited partner interest in Phillips 66 Partners, or a 26.3 percent limited partner interest if the underwriters exercise in full their option to purchase additional common units. Phillips 66, through certain of its subsidiaries, will own the remaining, majority limited partner interest in Phillips 66 Partners, as well as its 2 percent general partner interest. J.P. Morgan, Morgan Stanley, BofA Merrill Lynch, Barclays, Credit Suisse, Deutsche Bank Securities, Citigroup and RBC Capital Markets are acting as book-running managers for the offering. RBS, DNB Markets, Mitsubishi UFJ Securities, Mizuho Securities and PNC Capital Markets LLC are acting as co-managers. The offering is being made only by means of a prospectus. Potential investors can obtain a written prospectus that meets the requirements of Section 10 of the Securities Act of 1933 from: J.P. MorganAttn: Broadridge Financial Solutions1155 Long Island AvenueEdgewood, NY 11717Telephone: 866-803-9204 Morgan StanleyAttn: Prospectus Department180 Varick Street, 2nd FloorNew York, NY 10014Email: firstname.lastname@example.orgTelephone: 866-718-1649 To obtain a copy of the prospectus free of charge, visit the SEC’s website, www.sec.gov, and search under the registrant’s name, “Phillips 66 Partners.” About Phillips 66 Partners Phillips 66 Partners is a growth-oriented master limited partnership formed by Phillips 66 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, the partnership’s assets 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.