RELATED PARTY TRANSACTIONS (Tables)

12 Months Ended

Dec. 31, 2024

Schedule of Related Party Transactions

2022.

PBF Logistics LP | Commercial Agreements

Schedule of Related Party Transactions

The commercial agreements as of December 31, 2024 (as defined in the table below) with PBFX include:

Agreements

Initiation Date

Initial Term

Renewals (a)

MVC

Force Majeure

Transportation and Terminaling

Toledo Storage Facility Storage and Terminaling Services Agreement- Terminaling Facility (b)

12/12/2014

10 years

2 x 5 (c)

4,400 bpd

PBF Holding or PBFX can declare

Delaware Pipeline Services Agreement

5/15/2015

10 years, 8 months

2 x 5

50,000 bpd

Delaware Pipeline Services Agreement- Magellan Connection

11/1/2016

2 years, 5 months

See note (d)

Delaware City Truck Loading Services Agreement- Gasoline

5/15/2015

10 years, 8 months

2 x 5

30,000 bpd

Delaware City Truck Loading Services Agreement- LPGs

5/15/2015

10 years, 8 months

2 x 5

5,000 bpd

East Coast Terminals Terminaling Services Agreements (e)

5/1/2016

Various (f)

Evergreen

15,000 bpd (g)

East Coast Terminals Tank Lease Agreements

5/1/2016

Various (f)

Evergreen

350,000 barrels (h)

Torrance Valley Pipeline Transportation Services Agreement- North Pipeline (b)

8/31/2016

10 years

2 x 5

50,000 bpd

Torrance Valley Pipeline Transportation Services Agreement- South Pipeline (b)

8/31/2016

10 years

2 x 5

75,000 bpd (i)

Torrance Valley Pipeline Transportation Services Agreement- Midway Storage Tank (b)

8/31/2016

10 years

2 x 5

55,000 barrels (h)

Torrance Valley Pipeline Transportation Services Agreement- Emidio Storage Tank (b)

8/31/2016

10 years

2 x 5

900,000 barrels per month

Torrance Valley Pipeline Transportation Services Agreement- Belridge Storage Tank (b)

8/31/2016

10 years

2 x 5

770,000 barrels per month

Paulsboro Natural Gas Pipeline Services Agreement (b)

8/4/2017

15 years

Evergreen

60,000 dekatherms per day

Knoxville Terminals Agreement- Terminaling Services

4/16/2018

5 years

Evergreen

See note (j)

Knoxville Terminals Agreement- Storage Services

4/16/2018

5 years

Evergreen

See note (j)

Toledo Rail Loading Agreement (b)

7/31/2018

7 years, 5 months

2 x 5

Various (k)

Chalmette Terminal Throughput Agreement

7/31/2018

1 year

Evergreen

N/A

Chalmette Rail Unloading Agreement

7/31/2018

7 years, 5 months

2 x 5

7,600 bpd

DSL Ethanol Throughput Agreement (b)

7/31/2018

7 years, 5 months

2 x 5

5,000 bpd

Delaware City Terminaling Services Agreement

1/1/2022

4 years

2 x 5

95,000 bpd

Toledo Truck Unloading & Terminaling Agreement (b)

4/1/2022

9 months

Evergreen

See note (l)

Crude Oil Processing Agreement

11/9/2023

6 months

Evergreen

N/A

Storage

Toledo Storage Facility Storage and Terminaling Services Agreement- Storage Facility (b)

12/12/2014

10 years

2 x 5 (c)

3,849,271 barrels (h)

PBF Holding or PBFX can declare

Chalmette Storage Agreement (b)

See note (m)

10 years

2 x 5

625,000 barrels (h)

East Coast Storage Assets Terminal Storage Agreement (b)

1/1/2019

8 years

Evergreen

2,953,725 barrels (h)

____________________

(a)PBF Holding has the option to extend the agreements for up to two additional five-year terms, as applicable.

(b)These commercial agreements with PBFX are considered leases.

(c)The first five-year extensions on these agreements have been exercised effective December 12, 2024.

(d)In connection with the inclusion of an additional destination at the Magellan connection under the Delaware Pipeline Services Agreement, PBF Holding and Delaware Pipeline Company LLC agreed to a two-year, five-month MVC (the “Magellan MVC”) under the Delaware Pipeline Services Agreement. The Magellan MVC expired on March 31, 2019, subsequent to which PBFX has been billing actual throughput on the Magellan connection.

(e)Subsequent to the PBFX acquisition of the Toledo, Ohio refined products terminal assets (the “Toledo Products Terminal”), the Toledo Products Terminal was added to the East Coast Terminals Terminaling Services Agreements.

(f)The East Coast Terminals related party agreements include varying initial term lengths, ranging from one to five years.

(g)The East Coast Terminals Terminaling Services Agreements have no MVCs and are billed based on actual volumes throughput, other than a terminaling services agreement between PBFX’s East Coast Terminals’ Paulsboro, New Jersey location and PBF Holding’s Paulsboro refinery with a 15,000 bpd MVC.

(h)Reflects the overall capacity as stipulated by the storage agreement. The storage MVC is subject to the effective operating capacity of each tank, which can be impacted by routine tank maintenance and other factors. PBF Holding’s available shell capacity may be subject to change as agreed to by PBF Holding and PBFX.

(i)In connection with the acquisition of Torrance Valley Pipeline Company LLC on May 31, 2019, the Torrance Valley Pipeline Transportation Services Agreement- South Pipeline was amended and restated to increase the MVC from 70,000 bpd to 75,000 bpd.

(j)Following the expiration of the initial terms of the Knoxville Terminals Agreements, both agreements have renewed as evergreen agreements with no contracted MVCs.

(k)Under the Toledo Rail Loading Agreement, PBF Holding has minimum throughput commitments for (i) 30 railcars per day of products and (ii) 11.5 railcars per day of premium products. The Toledo Rail Loading Agreement also specifies a maximum throughput rate of 50 railcars per day.

(l)The Toledo Truck Unloading & Terminaling Agreement MVC was 5,500 bpd through December 31, 2022. Effective January 1, 2023, the MVC decreased to 1,000 bpd.

(m)The Chalmette Storage Services Agreement was entered into on February 15, 2017 and commenced on November 1, 2017.

PBF Logistics LP | Affiliate Transactions [Member]

Schedule of Related Party Transactions

A summary of our affiliate transactions with PBFX is as follows:


	Year Ended December 31,
(in millions)	2024		2023		2022
Reimbursements under affiliate agreements:
Services Agreement	$	8.7	$	8.7	$	8.7
Omnibus Agreement	5.8		7.9		8.3
Total expenses under affiliate agreements	(349.4)		(347.8)		(319.6)

Equity Method Investment, Nonconsolidated Investee or Group of Investees | St. Bernard Renewables LLC

Schedule of Related Party Transactions

A summary of the Company’s related party transactions with SBR is as follows:


	Year Ended December 31,
(in millions)	2024		2023
Transactions under commercial agreements:
Sales	$	39.7	$	9.1
Purchases	(323.5)		(244.4)
Reimbursements under related party agreements:
Operating Agreement	163.7		62.8


Total lease expense under related party agreements	(4.1)		—

PBF Holding Co LLC 10-K