PBF Energy (NYSE: PBF) Credit Suisse Energy Summit February 2015
PBF Energy Company Profile Market capitalization of 2.9 billion(1) Toledo BB- / Ba3 credit ratings Operates three oil refineries in Ohio, Delaware and New Jersey Aggregate throughput capacity of 540,000 bpd Paulsboro…
PBFs East Coast Refining Strength 2014 was transformational year for PBFs East Coast refining system Generated EBITDA of 700 million*, or 62% of total Refining EBITDA Favorable market conditions (NYH 2-1-1 crack spread averaged 15/bbl…
East Coast Regional Refinery Advantage Crude cost advantages for complex, medium and Illustrative Heavy / Sour COGS Advantage heavy, sour refineries like Delaware City and 10 Paulsboro translate to increased profitability 9 9.00…
PBFs Crude Sourcing Optionality PBF has the flexibility to source either rail- Planned Leased or Owned Railcars delivered or waterborne crude oil depending on 7,000 economics 5,900 6,000 4,592 East Coast access to North…
Strong Balance Sheet Provides a Platform for Growth PBF Energy maintains a conservative financial profile with significant liquidity and access to capital markets Availability liquidity of 1 billion as of December 31, 2014 In 2014,…
Increasing Shareholder Value 2014 Summary Returned 260 million to shareholders through dividends and share repurchases Enhanced margin by approximately 170 million, on an annualized basis, through projects implemented in 2014…
PBF Logistics LP Overview (NYSE: PBFX) PBF Logistics launched in May 2014 Market capitalization of 800 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…
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 100 125…
PBFX Outlook and Strategy Focused on stable, fee-based business supported by long-term, minimum Focus on Stable, volume commitments Fee-based Business Maintain minimal commodity risk Demonstrate commitment to safe and reliable…
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 13
Appendix
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…
PBF Energy 2015 Guidance (Figures in millions except per barrel amounts) FY 2015 East Coast Throughput 310,000 330,000 bpd Mid-continent Throughput 150,000 160,000 bpd Total Throughput 460,000 490,000 bpd Operating expenses 4.50 -…
PBFX 2015 Guidance All figures are based on minimum volume commitments under existing long-term agreements (Figures in millions) FY 2015 Revenues 122.0 Operating expenses 35.0 SG&A 10.5 D&A 5.8 Interest expense, net 8.5…
PBFX 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.…
PBFX 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…
PBFX 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…
PBFX Toledo Storage Facility Tank Storage Facility serves the Toledo refinerys operations and product distribution activities Activities include: Crude oil and product storage Propane truck loading 30 tanks with total shell…
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