JPMorgan Chase Signs Phillips 66 to Accept Chase Pay

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Will give customers a convenient, secure and rewarding way to pay at
the pump and inside the convenience store

HOUSTON–(BUSINESS WIRE)–Chase and Phillips 66 (NYSE: PSX) have signed a multiyear agreement for
Phillips 66 to accept Chase Pay at its Phillips 66®, Conoco®
and 76® branded locations across the United States, the
companies announced today.

Phillips 66 joins a host of merchants in signing up to accept Chase Pay,
which gives Chase customers an easy, secure and rewarding way to pay for
purchases. The fuel retailer is also a key member of the Merchant
Customer Exchange (MCX), a strategic Chase Pay relationship.

To enable Phillips 66®, Conoco® and 76®
branded sites to accept Chase Pay at their pumps and in their c-stores,
Phillips 66 has also collaborated with Houston-based mobile commerce
provider P97 Networks, Inc. and will leverage P97’s cloud-based mobile
payment infrastructure.

As a result of these relationships, consumers of Phillips 66’s fuel
brands will soon be able to make purchases through the My Phillips 66,
My 76 and My Conoco mobile apps of Phillips 66.

“We are excited to work with Chase and P97 to accept Chase Pay at our
branded sites, which will offer our customers a simplified fueling
experience – one that will enable them to safely and expeditiously
purchase our high-quality Phillips 66, Conoco and 76 gasoline on their
mobile devices from the comfort of their vehicles,” said Brian Mandell,
global marketing president for Phillips 66. “This same convenience will
allow customers to take advantage of our reward programs and promotions
without having to swipe loyalty cards or use coupons at pumps and
registers.”

Phillips 66 is one of the largest fuel retailers in the United States
while Chase is the largest U.S. credit card issuer based on loans
outstanding. Chase customers have more than 90 million consumer credit
and debit card accounts, and nearly 24 million actively use the
award-winning Chase mobile banking app.

Chase Pay is live with select online merchants and will be available
starting later this year for Chase customers to use at participating
merchants’ registers and in apps.

“We’ll work closely with Phillips 66 in enhancing their brand loyalty
and making it easier for their customers to buy fuel with their mobile
phones,” said Jennifer Roberts, president of Strategic Alliances and
Loyalty Solutions for Chase.

“Chase Pay will help deepen the relationship with our common customers
by integrating Phillip 66’s loyalty offers and rewards with payments to
deliver a seamless experience,” added Tom Nipper, executive
director of Global Enterprise Solutions for Chase Commerce Solutions.

About Chase

Chase is the U.S. consumer and commercial banking business of JPMorgan
Chase & Co. (NYSE: JPM), a leading global financial services firm with
assets of $2.5 trillion and operations worldwide. Chase serves nearly
half of America’s households with a broad range of financial services,
including personal banking, credit cards, mortgages, auto financing,
investment advice, small business loans and payment processing.
Customers can choose how and where they want to bank: 5,300 branches,
15,500 ATMs, mobile, online and by phone. For more information, go to Chase.com.

About Chase Commerce Solutions

Commerce Solutions is the global payment acceptance and merchant
acquiring business of JPMorgan Chase & Co. Commerce Solutions is a
leading provider of payment, fraud management and data security
solutions, capable of authorizing transactions in more than 120
currencies. The company’s proprietary platforms provide integrated
commerce solutions for all major credit and debit card
payments as well as mobile payments. Commerce Solutions has uniquely
combined proven payment technology with a long legacy of merchant
advocacy that creates quantifiable value for ecommerce
companies. Commerce Solutions processed 42 billion transactions globally
with a value of $949.3 billion in 2015, and ranked the No. 1 Merchant
Acquirer Worldwide, based on volume, by The Nilson Report in April 2016.

About Phillips 66

Phillips 66 is a diversified energy manufacturing and logistics company.
With a portfolio of Midstream, Chemicals, Refining, and Marketing and
Specialties businesses, the company processes, transports, stores and
markets fuels and products globally. Phillips 66 Partners, the company’s
master limited partnership, is an integral asset in the portfolio.
Headquartered in Houston, the company has 14,000 employees committed to
safety and operating excellence. Phillips 66 had $50 billion of assets
as of June 30, 2016. For more information, visit www.phillips66.com
or follow us on Twitter @Phillips66Co.

Contacts

Chase:
Edward J. Kozmor, 302-282-7170
edward.kozmor@chase.com
or
Phillips
66:

Melissa Ory, 855-841-2368
melissa.r.ory@p66.com