Linden Cogeneration and Phillips 66 Bayway Refinery Complete Hydrogen Blending Commissioning

LINDEN, NJ – June 6, 2023 – Linden Cogeneration (Linden Cogen) has successfully completed
the commissioning process of its hydrogen blending initiative which stands to curb CO 2
emissions by reducing the amount of natural gas used for power and steam generation.

After such modifications, including PSM’s FlameSheet TM system, Linden Cogen is now taking
refinery off gas containing hydrogen produced by the Phillips 66 (NYSE: PSX) Bayway Refinery
and blending it with natural gas to fuel the unit 6 gas turbine. The project is improving overall
refinery and Linden Cogen operational efficiency and reducing CO 2 emissions, primarily by using refinery off gas and improving flare efficiencies.

“We successfully implemented the new technologies and commercialized the operations,” said
Todd Kerschbaum, Chief Technical Officer for JERA Americas, asset manager and half owner of
Linden Cogen. “Actual reductions will be based on how much hydrogen is used at any given
time of plant operation, but the joint project is expected to reduce overall CO2 emissions by
approximately 10% of annual CO2 emissions from the unit 6, while staying within the gas
turbine’s stringent NOx emission requirements.”

“At Phillips 66, we are committed to playing a meaningful role in the energy transition and
pursuing lower-carbon opportunities. This joint project with Linden Cogen, located within the
Bayway Complex, is a great example of our commitment. We are very pleased with the
project’s anticipated improved energy efficiency and reduced CO2 emissions,” said Donald
Susanen, Bayway Refinery General Manager.

LINDEN COGENERATION
Linden Cogen is a 972 MW natural gas-fueled thermal cogeneration plant located in Linden,
New Jersey. Power and steam produced from the power generation facility is supplied for
industrial use under long-term contracts and most of the electricity is also sold into the New York Independent System Operator and PJM power markets. The facility, which began
operating in 1992, has six gas turbines and three steam turbines. Linden Cogen is owned by
JERA Americas (50%), EGCO (28%), DBJ (12%), GS-Platform Partners (10%). Unit 6 has been
modified to use blended hydrogen.

JERA AMERICAS
JERA Americas is supporting an energy transition in an environmentally and socially responsible
manner. The Company is a subsidiary of Tokyo-based JERA, which stands for Japan’s Energy for
a New Era, and produces about 30% of all electricity in Japan. JERA is committed to achieving
net zero CO2 emissions from its domestic and overseas businesses by 2050 and is contributing
to the development of a sustainable society. For more information you may follow JERA
Americas on LinkedIn or visit https://www.jera.co.jp/en/corporate.

PHILLIPS 66
Phillips 66 (NYSE: PSX) manufactures, transports and markets products that drive the global
economy. The diversified energy company’s portfolio includes Midstream, Chemicals, Refining,
and Marketing and Specialties businesses. Headquartered in Houston, Phillips 66 has
employees around the globe who are committed to safely and reliably providing energy and
improving lives while pursuing a lower-carbon future. For more information,
visit phillips66.com or follow @Phillips66Co on LinkedIn or Twitter.