PBF Logistics LP (NYSE: PBFX) UBS MLP Conference January 2015
PBF Logistics LP Overview (NYSE: PBFX) PBF Logistics launched in May 2014 Market capitalization of 700 million(1) PBF Energy owns 52.1% of PBFX, 100% of the GP and IDRs Revenues supported by long-term agreements with minimum volume…
PBFX Investment Highlights PBFX is the primary vehicle to expand PBF Energys (PBF) logistics asset base PBF underpins the stability of PBFXs cash flow Relationship with 100% of forecast revenue generated through MVCs PBF provides…
Delaware City Loop Track Light crude oil rail unloading terminal Supports Delaware City and Paulsboro refineries Combined refining capacity: 370,000 bpd Supplies cost-advantaged, light crude oil from Western Canada and U.S.…
Toledo Truck Terminal 15,000 bpd truck crude unloading facility Services PBFs 170,000 bpd Toledo refinery Primarily receives locally-gathered, cost-advantaged crude oil Potential for growth through increased production in nearby…
Delaware City Heavy Crude Unloading Rack West Rack - heavy crude oil rail unloading terminal Current discharge capacity: 40,000 bpd Unit-train capable, steam and nitrogen equipped to unload heavy crude oil and bitumen Construction…
Toledo Storage Facility and LPG Truck Rack Storage facility and LPG truck rack serve Toledo refinerys operations and product distribution activities Services include: Crude oil and product storage Propane truck loading 30 tanks…
PBF Energys Strengths as a Sponsor Significant acquisition experience Operational Long history of operating logistics and refining assets Excellent safety record; early adopter of rail safety initiatives Conservative financial…
PBF Energy Company Profile Market capitalization of 2.4 billion and enterprise Toledo value of 3.2 billion (1) Ba3 / BB- credit ratings Owns three oil refineries in Ohio, Delaware and New Jersey Aggregate throughput capacity of…
Robust Drop-down Inventory Retained at PBF PBFX has ROFO on substantial portfolio of logistics assets retained at PBF Significant growth potential through future drop-downs of logistics infrastructure retained by PBF Energy…
PBFX Business Strategies Utilize long-term, fee-based contracts with minimum volume commitments and inflation escalators Generate stable, fee- Maintain minimal direct exposure to commodity price fluctuations based cash flow…
Appendix 1
Non-GAAP Financial Measures Our management uses EBITDA (earnings before interest, income taxes, depreciation and amortization) and Adjusted EBITDA as measures of operating performance to assist in comparing performance from period to…
PBFX 2015 Guidance All figures are based on minimum volume commitments under existing long-term agreements ( in millions) FY 2015 Revenues 122.0 Operating expenses 35.0 SG&A 10.5 D&A 5.8 Interest expense, net 8.5 Maintenance…
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