Item 7.01 Regulation FD Disclosure.

On September 8, 2022, Phillips 66 (the "Company") sent an email to certain interested parties, including investors, notifying them of the publication by Chevron Phillips Chemical Company LLC of its 2022 Sustainability Report (the "Report"). Certain information contained in the Report addresses concerns raised in a shareholder proposal included in the Company's proxy materials for its 2022 annual meeting of shareholders. The full text of the email is set forth below:

"We are pleased to share that Chevron Phillips Chemical Company (CPChem) has published its 2021 Sustainability Report. This report includes additional disclosures on recycling plastics as requested in a shareholder proposal that was submitted to Phillips 66.

CPChem's recently released sustainability report includes a chapter dedicated to the resilience of its plastics business model under different scenarios as well as the drivers to meeting its plastic recycling goal. The report also includes detail on CPChem's product stewardship actions and investments, including reducing plastic waste from the environment.

The report can be read at cpchem.com/sustainability/sustainability-reporting.

Phillips 66 has demonstrated our responsiveness to our shareholders and believes the information in CPChem's 2021 Sustainability Report meets the additional disclosures committed to in our 2022 Proxy Statement.

Thank you for your continued interest in Phillips 66."

The information in this Item 7.01 shall not be deemed "filed" for purposes of the Securities Exchange Act of 1934 (the "Exchange Act") or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, regardless of any general incorporation language in such filing.


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