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      "text": "In their own words, they do have a clearly defined strategic direction, and you can talk the talk, but you might not walk the walk...They are clearly not walking the walk. At all. — Phillips 66 Shareholder A; Looking at [Phillips 66's] strategic direction, significant divestment and cleaning up of operations would be certainly beneficial. Getting back into what they do best, which is integrated refining. — Phillips 66 Shareholder B; What can they do now that will help them longer-term? In terms of execution, I want them to have a much more independent board...I want them to continue divesting. I don't want them to have a conglomerate discount... They just have too many unrelated businesses, and I think that's just not good for them longer-term. — Phillips 66 Shareholder C",
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      "text": "Third-party survey conducted as of March 2025. Total Shareholder Return per Bloomberg, ending on 2/7/25.",
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