PBF Energy (NYSE: PBF) Acquisition of Chalmette Refining, LLC June 18, 2015
Transaction Overview PBF acquiring Chalmette Refining, LLC for 322 million plus working capital Assets to be acquired include: 189,000 bpd Chalmette Refinery 100% MOEM Pipeline LLC (MOEM Pipeline and CAM Connection Pipeline) 80%…
Acquisition Highlights Immediately accretive to earnings Provides geographic diversification into PADD 3 and increases PBFs refining capacity by 35% Significantly enhances PBFs product export capabilities Expanded commercial arena…
Financial Overview 322 million purchase price for Chalmette Refining, LLC assets 30 million of MLP-able pre-tax earnings Purchase funded with a combination of cash and debt Inventory financing of 300 to 500 million Immediately…
PBFs Growing Industry Position Refinery Region Capacity (bpd) 2,540 Total Throughput Capacity (kbpd) Delaware City PADD 1 190,000 2,231 Chalmette PADD 3 189,000 1,644 Paulsboro PADD 1 180,000 Toledo PADD 2 170,000 917 729…
Increasing Stakeholder Value Operate safely and efficiently Maintain capital discipline and conservative balance sheets Invest in revenue improvement projects Grow through strategic acquisitions Return cash to investors 8
Appendix
Non-GAAP Financial Measures Our management uses EBITDA (earnings before interest, income taxes, depreciation and amortization) as a measure of operating performance to assist in comparing performance from period to period on a consistent…
Greater New Orleans Refineries Motiva Convent Marathon Garyville Valero Meraux Motiva Convent Chalmette Valero St. Charles Valero St. Charles Motiva Convent Motiva Norco Motiva Norco Phillips 66 Alliance 11
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