Phillips 66 Raises Receivables Facility to $2B

Recent and relevant items from Phillips 66's filings that provide context for this receivables amendment: - Business transformation: Phillips 66 initiated a multi-year business transformation in April 2022; related restructuring costs were recorded in 2023 filings. - Renewable and marketing activity: The company completed a West Coast marketing acquisition (Aug 2023, $272 million) and integrated the Rodeo Renewable Energy Complex to expand renewable diesel placement. - Midstream integration: The DCP Midstream merger (completed June 2023) created integration-related considerations disclosed in filings. - Asset actions and impairments: The Los Angeles Refinery was planned for cessation in Q4 2025 with accelerated depreciation of $1,538 million through December 2025; impairments increased (e.g., $419 million for the nine months of 2024 vs. $15 million for the comparable period in 2023). - Financials and capital returns: Consolidated revenues were $49,642 million (2024), $51,014 million (2023), and $50,113 million (2022); the company has continued share repurchases and dividend distributions as part of its capital allocation approach. This receivables facility amendment should be interpreted in light of these prior disclosures; the provided materials do not identify specific intended uses for the expanded facility.