Material Event Form 8 K

On October 16, 2024, a jury returned a verdict against Phillips 66 Company, a wholly owned subsidiary of Phillips 66 (the "Company"), in a lawsuit brought by Propel Fuels Inc. in the Superior Court of the State of California, Alameda County (the "Court"), in the amount of $604.9 million in compensatory damages. The Court has not yet entered a judgment in the case and several post-trial motions are pending before the Court. In the lawsuit, Propel Fuels Inc. alleged that Phillips 66 Company misappropriated trade secrets related to its renewable fuels business. Phillips 66 Company has denied any wrongdoing and intends to vigorously defend its position. The Company is evaluating all of its legal options.

Cautionary Statement Regarding Forward-Looking Statements

This Current Report on Form 8-Kcontains forward-looking statements within the meaning of the federal securities laws regarding the above-mentioned lawsuit. Words such as "expect," "intend," "believe" and similar expressions that convey the prospective nature of events or outcomes generally indicate forward-looking statements. Factors that could cause actual results or events to differ materially from those described in these forward-looking statements include those that are set forth in the Company's filings with the Securities and Exchange Commission, as well as other factors that are beyond the Company's control. The Company undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date hereof.

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