Phillips 66

Welcome to the second quarter 2026 Phillips 66 earnings conference call. My name is Hillary and I will be your operator for today's call. At this time, all participants are in a listen only mode. Later, we will conduct a question and answer session. Please note that this conference is being recorded. I will now turn the call over to Sean Maher, Vice President, Investor Relations and Chief Economist. Sean, you may begin.

Hello, everyone. Good morning, and thank you for joining Phillips 66 second quarter 2026 earnings conference call. Participants on today's call will include Mark Lashier, Chairman and CEO, Kevin Mitchell, CFO, Don Baldridge, Midstream and Chemicals, Rich Harbison, Refining, and Brian Mandell, Marketing, Commercial, and Renewable Fuels. Today's presentation can be found on the investor relations section of the Phillips 66 website. along with supplemental financial and operating information. Slide two contains our safe harbor statement. We will be making forward-looking statements during today's call. Actual results may differ materially from today's comments. Factors that could cause actual results to differ are included here as well as in our SEC filings. With that, I'll turn the call over to Mark.

Thank you, Sean. Thank you for joining us. Safety, reliability, and operational excellence remain at the center of everything we do. We recently earned industry recognition for exemplary safety performance in midstream, refining, and chemicals. Due to our steadfast focus on reliability, our integrated businesses are available to supply U.S. and global energy needs. At Phillips 66, operational excellence is foundational. Thank you for joining us today. Our complete well-head-to-market system allows us to move products across our integrated value chain and offers customers valuable optionality and global access. In refining, our deliberate focus on operational improvement continues to deliver results. We have enhanced the portfolio, increased clean product yield, improved our cost structure, led the industry in utilization, and increased our nameplate capacity. Supported by a strong contribution from our commercial organization, we captured 98% of our market indicator in the second quarter. In renewables, we have scale, flexibility, and strong operations at one of the largest renewable diesel facilities in the world. As the uncertainty over renewable credit regulations unfolded in 2025, we engaged constructively with state and federal regulators and continue to do so. Thank you for joining us. Our teams continue to find new ways to maximize value through improving operations, increasing yields, expanding margins, and lowering costs. Moving to slide four, we process low-cost hydrocarbons from the U.S., Canada, and Latin America and turn them into higher-value, usable products for customers. As global supply and demand dynamics become more complex, our integrated model positions us for long-term value creation. Thank you for watching. That's what makes Phillips 66 unique. We have a resilient business model, advantaged assets, strong commercial capabilities, and significant earnings potential. Now I'll turn the call over to Kevin as we move to slide five.