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Phillips 66 Partners LP (PSXP) announces that the board of directors of its general partner declared a second-quarter 2015 cash distribution of $0.40 per common unit. This quarter’s distribution represents an increase of 8 percent over the previous quarterly distribution of $0.37 per unit and a 33 percent increase over second-quarter 2014. The distribution increase is consistent with previous guidance that the partnership expects a 30 percent compound annual distribution growth rate from the last quarter of 2013 through 2018. The second-quarter distribution is payable Aug. 12, 2015, to unitholders of record as of Aug. 3, 2015.

About Phillips 66 Partners

Headquartered in Houston, 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. For more information, visitwww.phillips66partners.com.