ConocoPhillips Announces Executive Appointments

HOUSTON, Jan. 11, 2012 -   ConocoPhillips [NYSE:COP] today announced additional appointments to the executive management teams for the two leading energy companies that will be created when ConocoPhillips completes its strategic repositioning, expected in the second quarter of this year.

Phillips 66, the future independent downstream company, named C.C. (Clayton) Reasor as vice president, Investor Relations, Strategy and Corporate Affairs. The new ConocoPhillips, an independent, pure-play exploration and production company, named Ellen R. DeSanctis as vice president, Investor Relations.

Reasor has more than 30 years experience in the oil and gas industry. He began his career with Phillips Petroleum Company and has held positions of increasing responsibility including president, U.S. Marketing. Reasor is currently vice president, Corporate and Investor Relations, for ConocoPhillips.

“Clayton has a wealth of knowledge and experience that will help us advance our strategy to grow Phillips 66 into an industry leading downstream company,” said Greg Garland, designated chairman and chief executive officer for Phillips 66, which will have leading businesses in refining, marketing, midstream and chemicals.

DeSanctis joins ConocoPhillips having most recently served as senior vice president, Corporate Communications, for Petrohawk Energy in Houston. She has more than 30 years in the oil and gas industry, including 15 years leading integrated corporate communication programs and investor relations.

“Ellen knows our company, she knows our stakeholders and she is a proven leader in our industry,” said Ryan Lance, designated chairman and chief executive officer of the future ConocoPhillips. “Her leadership will help us connect with investors as we establish a unique type of independent upstream company.”

ConocoPhillips’ repositioning is subject to market conditions, customary regulatory approvals, the receipt of an affirmative ruling from the U.S. Internal Revenue Service, the execution of separation and intercompany agreements and final board approval.

ConocoPhillips is an integrated energy company with interests around the world. Headquartered in Houston, the company had approximately 29,700 employees, $155 billion of assets, and $247 billion of annualized revenues as of Sept. 30, 2011. For more information, go to www.conocophillips.com.

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John Roper 
(media) 281-293-2073



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