**Phillips 66 Faces Director Nomination and Board Election Policy Proposal at 2025 Annual Meeting**

On February 13, 2025, Phillips 66, a leading energy company based in Houston, Texas, received a notice from Elliott Associates, L.P. (“Elliott”) regarding the nomination of director candidates to stand for election to the Company’s Board of Directors at the upcoming 2025 Annual Meeting of Shareholders. Alongside the director nomination, Elliott also expressed its intent to propose a non-binding business resolution at the meeting. This proposal requests the adoption of an annual election policy for directors, mandating that each incumbent director submit a letter of resignation effective at the subsequent annual meeting.

In response to this notice, Phillips 66’s Nominating and Governance Committee will evaluate the submission, with the Board planning to provide formal recommendations on the matter in the Company’s definitive proxy statement. This statement will be filed with the U.S. Securities and Exchange Commission (SEC) ahead of the 2025 Annual Meeting.

To engage shareholders in the decision-making process, Phillips 66 intends to submit a proxy statement and a WHITE proxy card to the SEC for the forthcoming meeting. These documents will outline the Company’s director nominees and other voting items. Shareholders are advised to review the proxy statement and related materials once available, as they will include crucial information regarding the proposals.

Furthermore, Phillips 66 disclosed that certain individuals, including directors, executive officers, and employees, may participate in the solicitation of proxies from shareholders for the 2025 Annual Meeting. Details about these participants, their interests in Phillips 66, and any recent trades they may have conducted in company securities have been outlined in previous proxy statements and filings with the SEC.

Shareholders keen on obtaining copies of the proxy statement and supplementary documents can access them without charge via the SEC’s website at www.sec.gov or Phillips 66’s investor relations website. Moreover, requests for physical copies can be directed to Phillips 66 in Houston, Texas.

In conclusion, Phillips 66’s forthcoming 2025 Annual Meeting is set to address important governance matters, following the submission of nominations and proposals by Elliott Associates, L.P. Shareholders are encouraged to closely follow updates and announcements as the meeting approaches.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Phillips 66’s 8K filing here.

Phillips 66 Company Profile

Phillips 66 operates as an energy manufacturing and logistics company in the United States, the United Kingdom, Germany, and internationally. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks; delivers refined petroleum products to market; provides terminaling and storage services for crude oil and refined petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.