PBF Logistics LP (NYSE: PBFX) Master Limited Partnership Association 2016 Investor Conference June 2016
PBF Logistics LP Diversified, stable and predictable cash flows Supported predominantly by long-term, take- or-pay agreements No direct commodity price exposure Highly integrated assets Focused on movement and storage of refinery…
PBFX Growing Asset Base is Ideally Situated PBF Logistics Mid-Continent Assets Legacy PBF Logistics assets directly support the Toledo Storage Facility Toledo LPG Truck Rack operations of the Toledo, Delaware City and Toledo Truck…
First Third Party Acquisition Closed acquisition of East Coast Terminals from Plains All American at a pro forma EBITDA multiple of 7x Purchase price of 100 million, plus an upfront capital investment of 5 million Unaffiliated…
PBFX is a Strategic and Valuable Partner to PBF Summary of Executed Drop-Downs Stable cash flows supported predominantly by long- term, take-or-pay Minimum Volume Commitments Announcement Date Asset Projected Annual EBITDA (mm)…
PBF Energy as Sponsor Fourth largest independent refiner in Toledo United States(1) PADD 4 PADD PADD 2 BB / Ba3 credit ratings upgraded by S&P in 5 Paulsboro PADD Q4-15 1 Torrance Currently operates four oil refineries in PADD…
Coastal Refinery Complexity Advantage Illustrative Heavy / Sour COGS Advantage Crude cost advantages for complex refineries like 10.00 Paulsboro, Delaware City and Chalmette translate to 9.00 (0.75) increased profitability 8.00…
Commercial Optimization Crude sourcing flexibility and optionality Refining Group Crude Slate Breakdown 100% PBF uses its complex crude processing capacity to source lowest cost input slate 80% PBF is benefiting from the…
Strong Connection with PBF Energy Experienced management team Operational Focused on safety and operational excellence PBFXs assets are integrated with three of PBFs operating refineries Fee-based, long-term contracts provide PBFX…
PBFXs Investment Highlights Maintain stable cash flow generation through predominantly long-term Focus on Stable, contracts with minimum volume commitments Take-or-Pay Commitment to safe and reliable operations across all areas Business…
Appendix
Non-GAAP Financial Measures PBF Logistics LP Reconciliation of Amounts under US GAAP to Forecasted EBITDA (unaudited, in millions) Reconciliation of East Coast Terminals Forecasted Net Income to pro forma EBITDA: Forecasted net income…
Key Milestones Completed PBF Energy PBF Energy PBF Energy 350 Million announces announces closes Completed Bond Chalmette Torrance Chalmette 50 Million IPO Offering acquisition acquisition acquisition Equity Offering May September…
Long-term Agreements Underpin Stability All contracts have two 5-year renewal terms and inflation-based cost escalators Assets MVC Original MVC () Initial Term Toledo Storage Facility (Tankage) 3.9 million bbls(1) 0.50 / bbl 10…
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