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Phillips 66 Partners LP Investigation

We are investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Phillips 66 Partners LP (“PSXP” or the “Partnership”)(NYSE: PSXP) in connection with the proposed acquisition of PSXP by Phillips 66 (“Phillips 66”) (NYSE: PSX).  Under the terms of the merger agreement, each outstanding PSXP common unitholder would receive 0.50 shares of Phillips 66 common stock for each PSXP common unit they hold.

WeissLaw LLP is investigating whether (i) PSXP’s board of directors acted in the best interests of its unitholders in agreeing to the proposed transaction, (ii) the merger consideration is fair to PSXP’s unitholders, and (iii) all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed.