Elliott Releases Fourth Episode of "Streamline 66" Podcast Series Featuring 1:1 Conversation with Director Nominee Sigmund Cornelius

Core Viewpoint - Elliott Investment Management is advocating for the reevaluation of Phillips 66's asset management to unlock their full value, emphasizing the need for strategic clarity regarding the company's operations and structure [1][6]. Group 1: Elliott's Campaign and Podcast - Elliott Investment Management has launched the "Streamline 66" campaign, which includes a podcast series featuring discussions with director nominees and industry experts [1][2]. - The latest podcast episode features Sigmund Cornelius, former CFO of ConocoPhillips, who highlights his experience in enhancing shareholder value through divestiture and simplification [2]. Group 2: Proxy Solicitation and Board Nominees - Elliott has filed a definitive proxy statement with the SEC to solicit votes for its four director nominees for the Phillips 66 Board, aiming to influence the company's strategic direction [4]. - Stockholders are encouraged to review the proxy materials for important information regarding the election and the nominees [4]. Group 3: Company Asset Evaluation - There is a belief that Phillips 66 possesses valuable assets that are currently underappreciated due to the market's confusion over the company's identity as a refining, marketing, or midstream entity [6]. - The historical context of splitting ConocoPhillips is referenced as a precedent for potentially separating Phillips 66's operations to better allocate capital and enhance valuation [6].