<SEC-DOCUMENT>0001193125-16-794604.txt : 20161215
<SEC-HEADER>0001193125-16-794604.hdr.sgml : 20161215
<ACCEPTANCE-DATETIME>20161215171832
ACCESSION NUMBER:		0001193125-16-794604
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		7
CONFORMED PERIOD OF REPORT:	20161213
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20161215
DATE AS OF CHANGE:		20161215

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PBF Energy Inc.
		CENTRAL INDEX KEY:			0001534504
		STANDARD INDUSTRIAL CLASSIFICATION:	PETROLEUM REFINING [2911]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-35764
		FILM NUMBER:		162054455

	BUSINESS ADDRESS:	
		STREET 1:		1 SYLVAN WAY
		CITY:			PARSIPPANY
		STATE:			NJ
		ZIP:			07054
		BUSINESS PHONE:		973-455-7500

	MAIL ADDRESS:	
		STREET 1:		1 SYLVAN WAY
		CITY:			PARSIPPANY
		STATE:			NJ
		ZIP:			07054
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>d305355d8k.htm
<DESCRIPTION>8-K
<TEXT>
<HTML><HEAD>
<TITLE>8-K</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>WASHINGTON, D.C. 20549 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>FORM 8-K
</B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>CURRENT REPORT </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>PURSUANT
TO SECTION 13 OR 15(d) OF THE </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES EXCHANGE ACT OF 1934 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Date of Report (Date of Earliest Event Reported): December&nbsp;13, 2016 </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>PBF ENERGY INC. </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Exact
Name of Registrant as Specified in its Charter) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="34%"></TD>
<TD VALIGN="bottom"></TD>
<TD WIDTH="32%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="32%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" ALIGN="center"><B>Delaware</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>001-35764</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>45-3763855</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(State&nbsp;or&nbsp;other&nbsp;jurisdiction</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>of&nbsp;incorporation&nbsp;or&nbsp;organization)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Commission</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>File Number)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(I.R.S.&nbsp;Employer</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Identification&nbsp;Number)</B></P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>One Sylvan Way, Second Floor </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Parsippany, New Jersey 07054 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Address of the Principal Executive Offices) (Zip Code) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(973) 455-7500 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Registrant&#146;s Telephone Number, including area code) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>N/A </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Former Name or
Former Address, if Changed Since Last Report) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Check the appropriate box below
if the Form 8-K Filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) </TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;1.01 Entry into a Material Definitive Agreement. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On December&nbsp;13, 2016, PBF Energy Inc. (the &#147;Company&#148;) entered into an underwriting agreement (the &#147;Underwriting
Agreement&#148;) with Wells Fargo Securities, LLC (the &#147;Underwriter&#148;), pursuant to which the Company agreed to sell 10,000,000 shares of its Class&nbsp;A common stock (the &#147;Shares&#148;), par value $0.001 per share, to the Underwriter
(the &#147;Offering&#148;) and granted the Underwriter a 30-day option to purchase from the Company up to an additional 1,500,000 shares of its Class&nbsp;A common stock. The Company will receive total gross proceeds (before underwriter&#146;s
discounts and commissions) of approximately $277.5 million from the Offering. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Shares will be offered under the Company&#146;s shelf
registration statement on Form S-3 (No. 333-193210) filed with the Securities and Exchange Commission under the Securities Act of 1933, as amended (the &#147;Securities Act&#148;). The material terms of the Offering are described in the prospectus
supplement dated December&nbsp;13, 2016. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Offering is expected to close on December&nbsp;19, 2016, subject to the satisfaction of the
closing conditions set forth in the Underwriting Agreement. Under the Underwriting Agreement, the Company has also agreed to indemnify the Underwriter against certain liabilities, or to contribute to payments that the Underwriter may be required to
make in respect of those liabilities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Underwriter and/or certain of its affiliates perform and/or have performed commercial and
investment banking and advisory services for the Company and/or its affiliates from time to time for which they receive and/or have received customary fees and expenses. The Underwriter and/or certain of its affiliates may, from time to time, engage
in transactions with and perform services for the Company and/or its affiliates in the ordinary course of their business for which they will receive fees and expenses, including serving as administrative agent under PBF Logistics LP&#146;s credit
facility and term loans. The foregoing description of the Underwriting Agreement does not purport to be complete and is subject to, and is qualified in its entirety by reference to, the Underwriting Agreement, which is filed as Exhibit 1.1 to this
Current Report on Form 8-K and incorporated by reference herein. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In connection with the Offering, Stroock&nbsp;&amp; Stroock&nbsp;&amp;
Lavan LLP rendered their opinion as to the validity of the shares of Class&nbsp;A common stock to be sold in the Offering, which opinion is filed as Exhibit 5.1 hereto and is incorporated by reference herein. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;7.01 Regulation FD Disclosure. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">A copy of the press release announcing the Offering is attached hereto as Exhibit 99.1 and a copy of the press release announcing the pricing
of the Offering is attached hereto as Exhibit 99.2, both of which are incorporated by reference herein. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In accordance with General
Instruction B.2 of Form 8-K, such press releases shall not be deemed &#147;filed&#148; for the purposes of Section&nbsp;18 of the Securities Exchange Act of 1934, as amended (the &#147;Exchange Act&#148;), or otherwise subject to the liabilities of
that section, nor shall such information and exhibits be deemed incorporated by reference into any filing under the Securities Act or the Exchange Act unless specifically identified therein as being incorporated therein by reference. </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;9.01 Financial Statements and Exhibits </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(d)</TD>
<TD ALIGN="left" VALIGN="top">Exhibits </TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD WIDTH="90%"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:39.10pt; font-size:8pt; font-family:Times New Roman"><B>Exhibit&nbsp;No.</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman"><B>Description</B></P></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP ALIGN="center">&nbsp;&nbsp;1.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Underwriting Agreement, dated as of December 13, 2016</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP ALIGN="center">&nbsp;&nbsp;5.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Opinion of Stroock&nbsp;&amp; Stroock&nbsp;&amp; Lavan LLP with respect to the validity of the shares</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP ALIGN="center">23.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Consent of Stroock&nbsp;&amp; Stroock&nbsp;&amp; Lavan LLP (included in Exhibit 5.1)</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP ALIGN="center">99.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Press release dated December 13, 2016</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP ALIGN="center">99.2</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Press release dated December 13, 2016</TD></TR>
</TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SIGNATURES </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dated: December&nbsp;15, 2016 </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="87%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">PBF Energy Inc.</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">(Registrant)</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Trecia Canty</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Trecia Canty</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Title:</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Senior Vice President, General Counsel</TD></TR>
</TABLE></DIV>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EXHIBIT INDEX </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD WIDTH="90%"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:39.10pt; font-size:8pt; font-family:Times New Roman"><B>Exhibit&nbsp;No.</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman"><B>Description</B></P></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP ALIGN="center">&nbsp;&nbsp;1.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Underwriting Agreement, dated as of December 13, 2016</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP ALIGN="center">&nbsp;&nbsp;5.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Opinion of Stroock&nbsp;&amp; Stroock&nbsp;&amp; Lavan LLP with respect to the validity of the shares</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP ALIGN="center">23.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Consent of Stroock&nbsp;&amp; Stroock&nbsp;&amp; Lavan LLP (included in Exhibit 5.1)</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP ALIGN="center">99.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Press release dated December 13, 2016</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP ALIGN="center">99.2</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Press release dated December 13, 2016</TD></TR>
</TABLE>
</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-1.1
<SEQUENCE>2
<FILENAME>d305355dex11.htm
<DESCRIPTION>EX-1.1
<TEXT>
<HTML><HEAD>
<TITLE>EX-1.1</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">Exhibit 1.1 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">EXECUTION VERSION </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>10,000,000
Shares </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>PBF Energy Inc. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>CLASS A COMMON STOCK $0.001 PAR VALUE PER SHARE </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>UNDERWRITING AGREEMENT </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">December&nbsp;13,
2016 </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">December&nbsp;13, 2016 </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Wells Fargo Securities, LLC </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">375 Park Avenue </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">4th Floor </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">New York, New York 10152 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ladies and Gentlemen: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B></B>PBF Energy Inc., a
Delaware corporation (the &#147;<B>Company</B>&#148;), proposes to issue and sell to Wells Fargo Securities, LLC (the &#147;<B>Underwriter</B>&#148;) an aggregate of 10,000,000 shares of the Company&#146;s Class&nbsp;A Common Stock, $0.001 par value
per share (the &#147;<B>Firm Shares</B>&#148;). <B> </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B></B>The Company also proposes to issue and sell to the Underwriter not more
than an additional 1,500,000 shares of its Class&nbsp;A Common Stock, $0.001 par value per share (the &#147;<B>Additional Shares</B>&#148;) if and to the extent that you, as Underwriter of the offering, shall have determined to exercise the right to
purchase such shares of common stock granted to the Underwriter in Section&nbsp;2 hereof. The Firm Shares and the Additional Shares are hereinafter collectively referred to as the &#147;<B>Shares</B>.&#148; The shares of Class&nbsp;A Common Stock,
$0.001 par value per share of the Company, to be outstanding after giving effect to the sales contemplated hereby are hereinafter referred to as the &#147;<B>Common Stock</B>.&#148;<B> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B></B>Upon the consummation of this offering, the Company will use the proceeds from this offering to purchase from PBF Energy Company LLC, a
Delaware limited liability company (&#147;<B>PBF LLC</B>&#148;), a number of Series&nbsp;C Units (&#147;<B>Series C Units</B>&#148; and, together with the Series A Units of PBF LLC and the Series B Units of PBF LLC, the &#147;<B>Units</B>&#148;)
equal to the number of shares of Common Stock the Company has issued in this offering. As a result of the foregoing, the Company will purchase 10,000,000 Series&nbsp;C Units in respect of the Firm Shares and up to 1,500,000 Series C Units in respect
of the Additional Shares. <B> </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B></B>The Company has prepared and filed with the Securities and Exchange Commission (the
&#147;<B>Commission</B>&#148;) an automatic shelf registration statement on Form S-3 (File No.&nbsp;333 &#150; 193210), covering the public offering and sale of certain securities, including the Shares, under the Securities Act of 1933, as amended
(the &#147;<B>Securities Act</B>&#148;), and the rules and regulations promulgated thereunder (the &#147;<B>1933 Act Regulations</B>&#148;), which automatic shelf registration statement became effective under Rule 462(e) under the 1933 Act
Regulations. Such registration statement, as of any time, means such registration statement at such time as amended by any post-effective amendments thereto to such time, including the exhibits and any schedules thereto at such time, the documents
incorporated or deemed to be incorporated by reference therein at such time pursuant to Item&nbsp;12 of Form S-3 under the Securities Act and the documents otherwise deemed to be a part thereof as of such time pursuant to Rule 430B under the 1933
Act Regulations (&#147;<B>Rule 430B</B>&#148;), is referred to herein as the &#147;<B>Registration Statement</B>,&#148; provided, however, that the &#147;Registration Statement&#148; without reference to a time means such registration statement as
amended by any post-effective amendments thereto as of the time of the first contract of sale for the Shares, which time shall be considered the &#147;<B>new effective date</B>&#148; of such registration statement with respect to the Shares within
the meaning of paragraph (f)(2) of Rule 430B, including the exhibits and schedules thereto as of such time, the documents incorporated or deemed incorporated by reference therein at such time pursuant to Item&nbsp;12 of Form S-3 under the Securities
Act and the documents otherwise deemed to be a part thereof of as such time pursuant to Rule 430B. Each preliminary prospectus supplement used in connection with the offering of the Shares, including the documents incorporated or deemed to be
incorporated by reference therein pursuant to Item&nbsp;12 of Form S-3 under the Securities Act are collectively referred to herein as a &#147;<B>preliminary prospectus</B>.&#148; Promptly after execution and delivery of this Agreement, the Company
will prepare and file a final prospectus supplement relating to the Shares in accordance with the provisions of Rule 424(b) under the 1933 Act Regulations (&#147;<B>Rule 424(b)</B>&#148;). The prospectus supplement, in the <B></B>form first
furnished or made available to the Underwriter for use in connection with the offering of the Shares, including the documents incorporated or deemed to be incorporated by reference therein pursuant to Item&nbsp;12 of Form S-3 under the Securities
Act, are collectively referred to herein as the &#147;<B>Prospectus</B>.&#148;<B> </B></P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B></B>For purposes of this Agreement, &#147;<B>free writing prospectus</B>&#148; has the meaning
set forth in Rule 405 under the Securities Act, &#147;<B>Time of Sale Prospectus</B>&#148; means the preliminary prospectus supplement together with the documents and pricing information set forth in Schedule I hereto, and &#147;<B>broadly available
road show</B>&#148; means a &#147;bona fide electronic road show&#148; as defined in Rule&nbsp;433(h)(5) under the Securities Act that has been made available without restriction to any person. As used herein, the terms &#147;Registration
Statement,&#148; &#147;preliminary prospectus,&#148; &#147;Time of Sale Prospectus&#148; and &#147;Prospectus&#148; shall include the documents, if any, incorporated or deemed to be incorporated by reference therein as of the date hereof pursuant to
Item&nbsp;12 of Form S-3 under the Securities Act. The terms &#147;<B>supplement,</B>&#148; &#147;<B>amendment</B>&#148; and &#147;<B>amend</B>&#148; as used herein with respect to the Registration Statement, the preliminary prospectus, the Time of
Sale Prospectus or the Prospectus shall include all documents subsequently filed by the Company with the Commission pursuant to the Securities Exchange Act of 1934, as amended (the &#147;<B>Exchange Act</B>&#148;), that are deemed to be incorporated
by reference therein.<B> </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">All references in this Agreement to financial statements and schedules and other information which is
&#147;disclosed,&#148; &#147;contained,&#148; &#147;included&#148; or &#147;stated&#148; (or other references of like import) in the Registration Statement, any preliminary prospectus or the Prospectus shall be deemed to include all such financial
statements and schedules and other information incorporated or deemed incorporated by reference in the Registration Statement, any preliminary prospectus or the Prospectus, as the case may be, prior to the execution and delivery of this Agreement.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I></I>1. <I>Representations and Warranties of the Company and PBF LLC</I>. The Company and PBF LLC, jointly and severally, represent and
warrant to and agree with the Underwriter that:<I> </I></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) The Company meets the requirements for use of Form S-3 under
the Securities Act. The Registration Statement is an &#147;automatic shelf registration statement&#148; (as defined in Rule 405) and the Shares have been and remain eligible for registration by the Company on such automatic shelf registration
statement. Each of the Registration Statement and any post-effective amendment thereto has become effective under the Securities Act. No stop order suspending the effectiveness of the Registration Statement or any post-effective amendment thereto
has been issued under the Securities Act, no order preventing or suspending the use of any preliminary prospectus or the Prospectus has been issued and no proceedings for any of those purposes have been instituted or are pending or, to the
Company&#146;s knowledge, threatened by the Commission. The Company has complied with each request (if any) from the Commission for additional information. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) (i) Each document, if any, filed or to be filed pursuant to the Exchange Act and incorporated by reference in the Time of
Sale Prospectus or the Prospectus complied or will comply when so filed in all material respects with the Exchange Act and the applicable rules and regulations of the Commission thereunder, (ii)&nbsp;the Registration Statement, at the time of its
effectiveness and at each deemed effective date with respect to the Underwriter pursuant to Rule 430B(f)(2) under the 1933 Act Regulations, did not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a
material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading, (iii)&nbsp;the Registration Statement and the Prospectus comply and, as amended or supplemented, if applicable,
will comply in all material respects with the Securities Act and the applicable rules and regulations of the Commission thereunder, (iv)&nbsp;the Time of Sale Prospectus does not, and at the time of each sale of the Shares in connection with the
offering when the Prospectus is not yet available </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-2- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
to prospective purchasers and at the Closing Date (as defined in Section&nbsp;4), the Time of Sale Prospectus, as then amended or supplemented by the Company, if applicable, will not, contain any
untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, (v)&nbsp;each broadly available road show, if any, when
considered together with the Time of Sale Prospectus, does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made,
not misleading, (vi)&nbsp;the Prospectus does not contain and, as amended or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the
light of the circumstances under which they were made, not misleading, except that the representations and warranties set forth in this paragraph do not apply to statements or omissions in the Registration Statement, the Time of Sale Prospectus or
the Prospectus based upon information relating to the Underwriter furnished to the Company in writing by the Underwriter expressly for use therein, it being understood and agreed that the only such information consists of the information described
as such in Section&nbsp;9(b) and (vii)&nbsp;any offer that is a written communication relating to the Shares made prior to the initial filing of the Registration Statement by the Company or any person acting on its behalf (within the meaning, for
this clause only, of Rule 163(c) of the 1933 Act Regulations) has been filed with the Commission in accordance with the exemption provided by Rule 163 under the 1933 Act Regulations (&#147;<B>Rule 163</B>&#148;) and otherwise complied with the
requirements of Rule 163, including without limitation the legending requirements, to qualify such offer for the exemption from Section&nbsp;5(d) of the Securities Act provided by Rule 163. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) (i) At the original effectiveness of the Registration Statement, (ii)&nbsp;at the time of the most recent amendment thereto
for the purposes of complying with Section&nbsp;10(a)(3) of the Securities Act (whether such amendment was by post-effective amendment, incorporated report filed pursuant to Section&nbsp;13 or 15(d) of the Exchange Act or form of prospectus),
(iii)&nbsp;at the time the Company or any person acting on its behalf (within the meaning, for this clause only, of Rule 163(c) under the Securities Act) made any offer relating to the Shares in reliance on the exemption of Rule 163 under the
Securities Act, and (iv)&nbsp;as of the time of sale, the Company was and is a &#147;well-known seasoned issuer&#148; (as defined in Rule 405). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) The Company is not an &#147;ineligible issuer&#148; in connection with the offering pursuant to Rules 164, 405 and 433
under the Securities Act. Any free writing prospectus that the Company is required to file pursuant to Rule 433(d) under the Securities Act has been, or will be, filed with the Commission in accordance with the requirements of the Securities Act and
the applicable rules and regulations of the Commission thereunder. Each free writing prospectus that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act or that was prepared by or on behalf of or used or
referred to by the Company complies or will comply in all material respects with the requirements of the Securities Act and the applicable rules and regulations of the Commission thereunder. Except for the free writing prospectuses, if any,
identified in Schedule I hereto, and electronic road shows, if any, each furnished to you before first use, the Company has not prepared, used or referred to, and will not, without your prior consent, prepare, use or refer to, any free writing
prospectus. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) Each of the Company and PBF LLC has been duly incorporated or formed, is validly existing as a corporation
or limited liability company in good standing under the laws of the jurisdiction of its incorporation or formation, has the corporate or limited liability company power and authority to own its property and to conduct its business as described in
the Time of Sale Prospectus and is duly qualified to transact business and is in good standing in each jurisdiction in which the conduct of its business or its ownership or leasing of property requires such
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-3- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
qualification, except to the extent that the failure to be so qualified or be in good standing would not, individually or in the aggregate, result in a material adverse effect on the condition
(financial or otherwise), results of operations, business or properties of the Company, PBF LLC and their subsidiaries, taken as a whole (&#147;<B>Material Adverse Effect</B>&#148;). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) Each subsidiary of the Company and PBF LLC has been duly organized, is validly existing as a corporation, limited
partnership or limited liability company in good standing under the laws of the jurisdiction of its incorporation or formation, has the entity power and authority to own its property and to conduct its business as described in the Time of Sale
Prospectus and is duly qualified to transact business and is in good standing in each jurisdiction in which the conduct of its business or its ownership or leasing of property requires such qualification, except to the extent that the failure to be
so qualified or be in good standing would not, individually or in the aggregate, result in a Material Adverse Effect; all of the issued shares of capital stock or other ownership interests of each subsidiary of the Company (other than ownership
interests of PBF LLC owned by current and former officers) and PBF LLC have been duly and validly authorized and issued, and are, to the extent applicable, fully paid and non-assessable and are owned directly or indirectly by the Company or PBF LLC,
as applicable, free and clear of all liens, encumbrances, equities or claims except as set forth in the Time of Sale Prospectus. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) This Agreement has been duly authorized, executed and delivered by the Company and PBF LLC. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(h) The authorized capital stock of the Company upon completion of the offering contemplated by the Prospectus conforms as to
legal matters to the description thereof contained in each of the Time of Sale Prospectus and the Prospectus. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) The
shares of Common Stock outstanding prior to the sale of the Shares to be sold by the Company have been duly authorized and are validly issued, fully paid and non-assessable. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(j) The Shares to be sold by the Company have been duly authorized and, when issued and delivered in accordance with the terms
of this Agreement, will be validly issued, fully paid and non-assessable, and the issuance of such Shares will not be subject to any preemptive or similar rights by or on behalf of the Company. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(k) All of the issued and outstanding Units of PBF LLC have been duly and validly authorized and issued. Except as otherwise
described in the Time of Sale Prospectus and in the Prospectus, (x)&nbsp;the Company owns of record and beneficially, free and clear of any security interests, claims, liens, proxies, equities or other encumbrances, the PBF LLC Series C Units held
by the Company and (y)&nbsp;PBF LLC owns of record and beneficially, free and clear of any security interests, claims, liens, proxies, equities or other encumbrances, all of the issued and outstanding shares of capital stock or other equity
interests of its subsidiaries, except, in each case, for security interests, claims, liens, proxies, equities or other encumbrances as would not reasonably be expected to have a Material Adverse Effect. Except as described in the Time of Sale
Prospectus and in the Prospectus, there are no options, warrants, agreements, contracts or other rights in existence to purchase or acquire from the Company, PBF LLC or any of its subsidiaries any shares of the capital stock or other equity
interests of the Company or PBF LLC or, except as would not reasonably be expected to have a Material Adverse Effect, any of its subsidiaries. The descriptions of the Company&#146;s stock option, stock bonus and other stock plans or arrangements,
and the options or other rights granted thereunder, set forth in the Time of Sale Prospectus and the Prospectus accurately and fairly present in all material respects the information required to be shown with respect to such plans, arrangements,
options and rights. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-4- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B></B>(l) The execution and delivery by the Company and PBF LLC of, and the
performance by the Company of its obligations under, this Agreement will not contravene (i)&nbsp;any provision of applicable law, (ii)&nbsp;the certificate of incorporation or by-laws of the Company or the certificate of formation or limited
liability company agreement of PBF LLC, (iii)&nbsp;any agreement or any other instrument binding upon the Company, PBF LLC or any of its subsidiaries that is material to the Company, PBF LLC and its subsidiaries, taken as a whole, or (iv)&nbsp;any
judgment, order or decree of any governmental body, agency or court having jurisdiction over the Company, PBF LLC or any subsidiary, except in the case of clauses (i), (iii)&nbsp;and (iv)&nbsp;as would not, individually or in the aggregate, be
expected to result in a Material Adverse Effect. No consent, approval, authorization or order of, or qualification with, any governmental body or agency is required for the performance by the Company or PBF LLC of its obligations under this
Agreement, except (i)&nbsp;the order of the Commission declaring effective the Registration Statement, (ii)&nbsp;as have been obtained or made (or will be prior to the Closing Date) by the Company, (iii)&nbsp;such as may be required by (A)&nbsp;the
securities or Blue Sky laws of the various states, (B)&nbsp;The New York Stock Exchange (&#147;<B>NYSE</B>&#148;) or (C)&nbsp;the Financial Industry Regulatory Authority, Inc. (&#147;<B>FINRA</B>&#148;), in connection with the offer and sale of the
Shares, (iv)&nbsp;as disclosed in the Time of Sale Prospectus and (v)&nbsp;such consents, approvals, authorizations, orders, registrations and filings the failure to obtain or make would not, individually or in the aggregate, have a Material Adverse
Effect or a material adverse effect on the ability of the Company to consummate the transactions contemplated by this Agreement.<B> </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(m) There has not occurred any material adverse change, or any development involving a prospective material adverse change, in
the condition, financial or otherwise, or in the earnings, business or operations of the Company, PBF LLC and its subsidiaries, taken as a whole, from that set forth in the Time of Sale Prospectus. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(n) Each preliminary prospectus filed as part of the Registration Statement as originally filed or as part of any amendment
thereto, or filed pursuant to Rule&nbsp;424 under the Securities Act, complied when so filed in all material respects with the Securities Act and the applicable rules and regulations of the Commission thereunder. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(o) Neither the Company nor PBF LLC is, and after giving effect to the offering and sale of the Shares and the application of
the proceeds thereof as described in the Prospectus will not be, required to register as an &#147;investment company&#148; as such term is defined in the Investment Company Act of 1940, as amended. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B></B>(p) Except as disclosed in the Time of Sale Prospectus and the Prospectus, (a)(i) neither the Company, PBF LLC nor any
of its subsidiaries is in violation of, or has any liability under, any applicable federal, state, local or non-U.S. statute, law, rule, regulation, ordinance, code, other requirement or rule of law (including common law), or decision or order of
any domestic or foreign governmental agency, governmental body or court, relating to pollution, to the use, handling, transportation, treatment, storage or Release (as defined below) or threat of Release of Hazardous Materials (as defined below), to
the protection or restoration of the Environment (as defined below), to health and safety including as such relates to exposure to Hazardous Materials (collectively, &#147;<B>Environmental Laws</B>&#148;), (ii)&nbsp;neither the Company, PBF LLC nor
any of its subsidiaries owns, occupies, operates or uses any property that to its knowledge requires any response or other corrective action pursuant to any Environmental Law, (iii)&nbsp;neither the Company, PBF LLC nor any of its subsidiaries is
conducting or funding any investigation, response or other<B> </B></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-5- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B>
</B>cor<B></B>rective action or monitoring of actual or suspected Hazardous Materials at any site or facility, nor is any of them a party to any order, judgment, decree, contract or agreement
which imposes any obligation or liability on any of them under any Environmental Law, (iv)&nbsp;neither the Company, PBF LLC nor any of its subsidiaries is liable or allegedly liable for any Release or, to its knowledge, threatened Release of
Hazardous Materials, including at any off-site treatment, storage or disposal site, (v)&nbsp;neither the Company, PBF LLC nor any of its subsidiaries has received written notice of any claim, action, suit, investigation or proceeding by any
governmental agency or governmental body or person relating to Environmental Laws or Hazardous Materials which is pending, or to their knowledge is any such claim, action, suit, investigation or proceeding threatened, and (vi)&nbsp;the Company, PBF
LLC and its subsidiaries have received and are in compliance with all, and have no liability under any, permits, licenses, authorizations, identification numbers or other approvals required under applicable Environmental Laws to conduct their
respective businesses, except in each case covered by clauses (i)&#151;(vi)&nbsp;such as would not individually or in the aggregate have a Material Adverse Effect and (b)&nbsp;to the knowledge of the Company and PBF LLC, there are no past or present
actions, conditions or occurrences, including the Release or threat of Release of Hazardous Materials, that would reasonably be expected to result in a violation of or liability under any Environmental Law that would have a Material Adverse Effect.
For purposes of this subsection &#147;<B>Hazardous Materials</B>&#148; means (A)&nbsp;petroleum and petroleum products, by-products or breakdown products, natural gas and natural gas liquids, coal ash, radioactive materials, asbestos and
asbestos-containing materials, polychlorinated biphenyls and mold, and (B)&nbsp;any other chemical, material, substance, waste, pollutant or contaminant in any form regulated under Environmental Laws; &#147;<B>Release</B>&#148; means any release,
spill, emission, discharge, deposit, disposal, leaking, pumping, pouring, dumping, emptying, injection, or leaching into the Environment, or into, from or through any building, structure or facility; &#147;<B>Environment</B>&#148; means ambient air,
indoor air, surface water, groundwater, drinking water, soil, surface or subsurface strata, and natural resources such as wetlands, flora and fauna.<B> </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B></B>(q) Except for rights that have been waived in writing or as disclosed in the Time of Sale Prospectus and the
Prospectus, there are no contracts, agreements or understandings between the Company or PBF LLC and any person granting such person the right to require the Company or PBF LLC to file a registration statement under the Securities Act with respect to
any securities of the Company or PBF LLC or to require the Company or PBF LLC to include such securities with the Shares registered pursuant to the Registration Statement (&#147;<B>Registration Rights</B>&#148;), and any person to whom the Company
or PBF LLC has granted Registration Rights and who has the right to exercise such rights prior to the expiration of the Lock-Up Period (as defined below) has agreed not to exercise such rights until after expiration of the Lock-Up Period.<B>
</B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B></B>(r) The operations of the Company, PBF LLC and its subsidiaries are and have been conducted at all times in
material compliance with all applicable financial recordkeeping and reporting requirements, including those of the Bank Secrecy Act, as amended by Title III of the Uniting and Strengthening America by Providing Appropriate Tools Required to
Intercept and Obstruct Terrorism Act of 2001 (USA PATRIOT Act), and the applicable anti-money laundering statutes of jurisdictions where the Company, PBF LLC and its subsidiaries conduct business, the rules and regulations thereunder and any related
or similar rules, regulations or guidelines, issued, administered or enforced by any governmental agency (collectively, the &#147;<B>Anti-Money Laundering Laws</B>&#148;), and no action, suit or proceeding by or before any court or governmental
agency, authority or body or any arbitrator involving the Company, PBF LLC or any of its subsidiaries with respect to the Anti-Money Laundering Laws is pending or, to the knowledge of the Company and PBF LLC, threatened.<B> </B></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-6- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(s) Neither the Company, PBF LLC nor any of its subsidiaries, nor any director,
officer, or employee thereof, nor, to the Company&#146;s or PBF LLC&#146;s knowledge, any agent, affiliate or representative of the Company, PBF LLC or any of its subsidiaries, is an individual or entity (&#147;<B>Person</B>&#148;) that is, or is
owned or controlled by a Person that is: (A)&nbsp;the subject of any sanctions administered or enforced by the U.S. Department of Treasury&#146;s Office of Foreign Assets Control, the United Nations Security Council, the European Union, Her
Majesty&#146;s Treasury, or other relevant sanctions authority (collectively, &#147;<B>Sanctions</B>&#148;), nor (B)&nbsp;located, organized or resident in a country or territory that is the subject of Sanctions (including, without limitation, the
Crimea region of the Ukraine, Cuba, Iran, Libya, North Korea, Sudan and Syria). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(t) Neither the Company nor PBF LLC will,
directly or indirectly, use the proceeds of the offering, or lend, contribute or otherwise make available such proceeds to any subsidiary, joint venture partner or other Person: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A) to fund or facilitate any activities or business of or with any Person or in any country or territory that, at the time of
such funding or facilitation, is the subject of Sanctions; or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) in any other manner that will result in a violation of
Sanctions by any Person (including any Person participating in the offering, whether as underwriter, advisor, investor or otherwise). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(u) For the past five years, the Company, PBF LLC and its subsidiaries have not knowingly engaged in, are not now knowingly
engaged in, and will not engage in, any dealings or transactions with any Person, or in any country or territory, that at the time of the dealing or transaction is or was the subject of Sanctions. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B></B>(v) Neither the Company, PBF LLC nor any of its subsidiaries, officers, or employees, or to the Company&#146;s or PBF
LLC&#146;s knowledge, affiliates, directors, agents or representatives of the Company, PBF LLC or of any of its subsidiaries: (i)&nbsp;has used any funds for any unlawful contribution, gift, property, entertainment or other unlawful expense relating
to political activity; (ii)&nbsp;has made, taken or will take any action in furtherance of any direct or indirect unlawful payment, promise to pay, or authorization or approval of the payment or giving of money, property, gifts or anything else of
value, directly or indirectly, to any foreign or domestic government official or employee (including any officer or employee of a government or government-owned or controlled entity or of a public international organization, or any person acting in
an official capacity for or on behalf of any of the foregoing, or any political party or party official or candidate for political office) to improperly influence official action or secure an improper advantage for the Company, PBF LLC or any of its
subsidiaries; (iii)&nbsp;has made, offered, or taken an act in furtherance of any bribe, unlawful rebate, payoff, influence payment, property, gift, kickback or other unlawful payment; or (iv)&nbsp;is aware of or has taken any action, directly or
indirectly, that would result in a violation of any provision of the Bribery Act 2010 of the United Kingdom, or the OECD Convention on Bribery of Foreign Public Officials in International Business Transactions (&#147;<B>OECD Convention</B>&#148;),
the Foreign Corrupt Practices Act of 1977, as amended, and the rules and regulations thereunder (collectively, the &#147;<B>FCPA</B>&#148;), including, without limitation, making use of the mails or any means or instrumentality of interstate
commerce corruptly in furtherance of an offer, payment, promise to pay or authorization of the payment of any money, or other property, gift, promise to give, or authorization of the giving of anything of value to any &#147;foreign official&#148;
(as such term is defined in the FCPA), including any officer or employee of a government or government-owned or controlled entity or of a public international organization, or any person acting in an official capacity for or on behalf of any of the
foregoing, in contravention of the FCPA or <B> </B></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-7- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
any applicable anti-bribery and anticorruption laws or regulations to which any Partnership Party, any of their respective subsidiaries, any director, officer, agent, employee, affiliate or other
person associated with or acting on behalf of the Partnership Parties or any of their respective subsidiaries is subject. The Company, PBF LLC and any of its subsidiaries and affiliates have conducted their businesses in compliance with the FCPA and
any applicable anti-bribery and anti-corruption laws or regulations and have instituted and maintain and will continue to maintain policies and procedures designed to promote and ensure, and which are reasonably expected to continue to ensure,
continued compliance with all applicable anti-bribery and anti-corruption laws. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(w) Except as disclosed in the Time of
Sale Prospectus and the Prospectus, subsequent to the respective dates as of which information is given in each of the Registration Statement, the Time of Sale Prospectus and the Prospectus: (i)&nbsp;the Company, PBF LLC and its subsidiaries taken
as a whole have not incurred any material liability or obligation, direct or contingent, nor entered into any material transaction; (ii)&nbsp;neither the Company nor PBF LLC has purchased any of its outstanding capital stock, nor declared, paid or
otherwise made any dividend or distribution of any kind on its capital stock other than ordinary and customary dividends; and (iii)&nbsp;there has not been any material change in the capital stock (other than in connection with the grant of awards
under existing equity incentive plans described in the Time of Sale Prospectus and the Prospectus), short-term debt or long-term debt of the Company, PBF LLC and its subsidiaries taken as a whole, except in each case as described in each of the
Registration Statement, the Time of Sale Prospectus and the Prospectus, respectively. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(x) Except as disclosed in the Time
of Sale Prospectus and the Prospectus, the Company, PBF LLC and its subsidiaries have good and marketable title to all real properties and all other properties and assets owned by them, in each case free and clear of all liens, charges, encumbrances
and defects, except for such liens, charges, encumbrances and defects (i)&nbsp;as would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect or (ii)&nbsp;as would not materially adversely affect the value
thereof or materially interfere with the use made or to be made thereof by them; and except as disclosed in the Time of Sale Prospectus and the Prospectus, the Company, PBF LLC and its subsidiaries hold any material leased real or personal property
under valid and enforceable leases, with such exceptions that would not materially adversely interfere with the use made or to be made thereof by them. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B></B>(y) The Company, PBF LLC and its subsidiaries own, possess or can acquire on reasonable terms, adequate trademarks,
trade names and other rights to inventions, know how, patents, copyrights, confidential information and other intellectual property (collectively, &#147;<B>intellectual property rights</B>&#148;) necessary to conduct the business now operated by
them or presently employed by them, except where the failure to own or possess such rights would not result, individually or in the aggregate, in a Material Adverse Effect, and have not received any notice of infringement of or conflict with
asserted rights of others with respect to any intellectual property rights that, if determined adversely to the Company, PBF LLC or any of its subsidiaries, would individually or in the aggregate have a Material Adverse Effect.<B> </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(z) No labor dispute with the employees of the Company, PBF LLC or any of its subsidiaries exists or, to the knowledge of the
Company or PBF LLC, is imminent that would have a Material Adverse Effect. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(aa) Except as described in the Time of Sale
Prospectus, the Company, PBF LLC and each of its subsidiaries are insured by insurers of recognized financial responsibility against such losses and risks and in such amounts as are prudent and customary in the businesses in which they are engaged;
neither the Company, PBF LLC nor any of its subsidiaries has been refused any </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-8- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
insurance coverage sought or applied for which refusal would reasonably be expected to have a Material Adverse Effect; and neither the Company, PBF LLC nor any of its subsidiaries has any reason
to believe that it will not be able to renew its existing insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may be necessary to continue its business at a cost that would not have a Material
Adverse Effect, except as described in the Time of Sale Prospectus. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B></B>(bb) The Company, PBF LLC and its subsidiaries
possess, and are in compliance with the terms of, all certificates, authorizations, franchises, licenses and permits (&#147;<B>Licenses</B>&#148;) necessary or material to the conduct of the business described in the Time of Sale Prospectus, except
where the failure to possess or be in compliance with the same would not, individually or in the aggregate, result in a Material Adverse Effect, and have not received any notice of proceedings relating to the revocation or modification of any
Licenses that, if determined adversely to the Company, PBF LLC or any of its subsidiaries, would individually or in the aggregate have a Material Adverse Effect.<B> </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(cc) The Company, PBF LLC and its subsidiaries maintain a system of accounting controls that are sufficient to provide
reasonable assurances that (i)&nbsp;transactions are executed in accordance with management&#146;s general or specific authorization; (ii)&nbsp;transactions are recorded as necessary to permit preparation of financial statements in conformity with
generally accepted accounting principles as applied in the United States and to maintain accountability for assets; (iii)&nbsp;access to assets is permitted only in accordance with management&#146;s general or specific authorization; (iv)&nbsp;the
recorded accountability for assets is compared with existing assets at reasonable intervals and appropriate action is taken with respect to any differences and (v)&nbsp;the interactive data in eXtensible Business Reporting Language included or
incorporated by reference in the Registration Statement fairly presents the information called for in all material respects and has been prepared in accordance with the Commission&#146;s rules and guidelines applicable thereto. The Company has not
reported to the Board of Directors fraud involving management or other employees who have a significant role in accounting controls that would have a Material Adverse Effect. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(dd) Except as set forth in the Time of Sale Prospectus and the Prospectus, neither the Company, PBF LLC nor any of its
subsidiaries is reviewing or investigating, and neither the Company&#146;s independent auditors nor its internal auditors have recommended that the Company review or investigate, (i)&nbsp;any matter which could result in a restatement of the
Company&#146;s financial statements for any annual or interim period presented in the Time of Sale Prospectus and the Prospectus; or (ii)&nbsp;any fraud involving management or other employees who have a significant role in the system of internal
controls maintained by the Company and its subsidiaries. Except as set forth in the Time of Sale Prospectus and the Prospectus neither the Company&#146;s nor PBF LLC&#146;s independent auditors nor their respective internal auditors have recommended
that the Company or PBF LLC, as applicable, review or investigate adding to, deleting, changing the application of, or changing the Company&#146;s or PBF LLC&#146;s, as applicable, disclosure with respect to, any of the Company&#146;s or PBF
LLC&#146;s, as applicable, material accounting policies. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ee) Except as described in the Time of Sale Prospectus, the
Company has not sold, issued or distributed any shares of Common Stock during the six-month period preceding the date hereof, including any sales pursuant to Rule&nbsp;144A under, or Regulation&nbsp;D or S of, the Securities Act, other than shares
issued pursuant to the Exchange Agreement described in the Prospectus or employee benefit plans, equity incentive plans or other employee compensation plans or pursuant to outstanding options, rights or warrants. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-9- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ff) The interactive data in eXtensible Business Reporting Language included or
incorporated by reference in the Registration Statement fairly presents the information called for in all material respects and has been prepared in accordance with the Commission&#146;s rules and guidelines applicable thereto. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B></B>(gg) Except as will not, individually or in the aggregate, result in a Material Adverse Effect, each of the Company, PBF
LLC and each of its subsidiaries (each, a &#147;<B>Taxpayer</B>&#148;) has (A)&nbsp;timely filed all federal, state, local and foreign tax returns required to be filed by it through the date hereof or have properly requested extensions thereof, and
(B)&nbsp;paid all federal, state, local and foreign taxes (including any related interest, additions to tax and penalties) required to be paid by it, including in its capacity as a withholding agent, except as may be being contested in good faith.
Each Taxpayer has made adequate charges, accruals and reserves in accordance with GAAP in the most recent financial statements referred to in paragraph (ii)&nbsp;below in respect of all material federal, state, local and foreign taxes for all
periods as to which the tax liability of such Taxpayer has not been finally determined. There is no tax deficiency that has been, or could reasonably be expected to be, asserted against any Taxpayer or any of its properties or assets that will,
individually or in the aggregate, result in a Material Adverse Effect, except those that are being contested in good faith and for which adequate reserves have been established in accordance with GAAP.<B> </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(hh) Any third-party statistical and market-related data included in Time of Sale Prospectus or the Prospectus are based on or
derived from sources that the Company and PBF LLC believe to be reliable and accurate in all material respects. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii)
Except as disclosed in the Time of Sale Prospectus and the Prospectus, there are no pending actions, suits or proceedings (including any inquiries or, to the knowledge of the Company or PBF LLC, investigations by any court or governmental agency or
body, domestic or foreign) against or affecting the Company, PBF LLC, any of its subsidiaries or any of their respective properties that, if determined adversely to the Company, PBF LLC or any of its subsidiaries, would individually or in the
aggregate have a Material Adverse Effect, or would materially and adversely affect the ability of Company or PBF LLC to perform its obligations under this Agreement and that are not covered by an indemnity from a prior owner of the Company&#146;s or
its subsidiaries&#146; assets; and no such actions, suits or proceedings (including any inquiries or investigations by any court or governmental agency or body, domestic or foreign) are threatened or, to the Company&#146;s or PBF LLC&#146;s
knowledge, contemplated. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(jj) The financial statements of the Company included or incorporated by reference in the Time of
Sale Prospectus present fairly in all material respects the financial position of the Company and its subsidiaries as of the dates shown and the results of operations and cash flows for the periods shown, and, except as otherwise disclosed in the
Time of Sale Prospectus, such financial statements have been prepared in conformity with the generally accepted accounting principles in the United States applied on a consistent basis; the financial statements of Chalmette Refining, L.L.C. included
or incorporated by reference in the Time of Sale Prospectus present fairly in all material respects the financial position of Chalmette Refining, L.L.C. and its subsidiaries as of the dates shown and the results of operations and cash flows for the
periods shown, and, except as otherwise disclosed in the Time of Sale Prospectus, such financial statements have been prepared in conformity with the generally accepted accounting principles in the United States applied on a consistent basis; the
financial statements of the Torrance Refinery&nbsp;&amp; Associated Logistics Business included or incorporated by reference in the Time of Sale Prospectus present fairly in all material respects the financial position of the Torrance
Refinery&nbsp;&amp; Associated Logistics Business and its subsidiaries as of the dates shown and the results of operations and cash flows </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-10- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
for the periods shown, and, except as otherwise disclosed in the Time of Sale Prospectus, such financial statements have been prepared in conformity with the generally accepted accounting
principles in the United States applied on a consistent basis; and the assumptions used in preparing the pro forma financial statements included in the Time of Sale Prospectus provide a reasonable basis for presenting the significant effects
directly attributable to the transactions or events described therein, the related pro forma adjustments give appropriate effect to those assumptions, and the pro forma columns therein reflect the proper application of those adjustments to the
corresponding historical financial statement amounts. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B></B>(kk) Other than with respect to items that would not
reasonably be expected to have a Material Adverse Effect, (i)&nbsp;the Company, PBF LLC and its subsidiaries and any &#147;employee benefit plan&#148; (as defined under the Employee Retirement Income Security Act of 1974 (as amended,
&#147;<B>ERISA</B>,&#148; which term, as used herein, includes the regulations and published interpretations thereunder) established or maintained by the Company, PBF LLC, its subsidiaries or their ERISA Affiliates (as defined below) are in
compliance with ERISA; (ii)&nbsp;to the knowledge of the Company and PBF LLC, each &#147;multiemployer plan&#148; (as defined in Section&nbsp;4001 of ERISA), if any, to which the Company, PBF LLC, its subsidiaries or an ERISA Affiliate contributes
(a &#147;<B>Multiemployer Plan</B>&#148;) is in compliance with ERISA; (iii)&nbsp;no &#147;reportable event&#148; (as defined under Section&nbsp;4043 of ERISA) for which notice has not been waived, has occurred or is reasonably expected to occur
with respect to any &#147;employee benefit plan&#148; established or maintained by any of the Company, PBF LLC, its subsidiaries or their ERISA Affiliates would have any material liability; (iv)&nbsp;no failure to satisfy the minimum funding
standard under Section&nbsp;412 of the Code, whether or not waived, has occurred or is reasonably expected to occur with respect to any &#147;employee benefit plan&#148; established or maintained by the Company, PBF LLC, its subsidiaries or any of
their ERISA Affiliates; (v)&nbsp;no &#147;single employer plan&#148; (as defined in Section&nbsp;4001 of ERISA) established or maintained by the Company, PBF LLC, its subsidiaries or any of their ERISA Affiliates, if such &#147;employee benefit
plan&#148; were terminated, would have any &#147;amount of unfunded benefit liabilities&#148; (as defined under ERISA); (vi)&nbsp;neither the Company, PBF LLC, its subsidiaries nor any of their ERISA Affiliates has incurred or reasonably expects to
incur any liability under (A)&nbsp;Title IV of ERISA (including any liability under Section&nbsp;4062(e) of ERISA) with respect to termination of, or withdrawal from, any &#147;employee benefit plan&#148; or (B)&nbsp;Section&nbsp;412, 4971, 4975 or
4980B of the Code; and (vii)&nbsp;each &#147;employee benefit plan&#148; established or maintained by the Company, PBF LLC, its subsidiaries or any of their ERISA Affiliates that is intended to be qualified under Section&nbsp;401(a) of the Code is
so qualified and nothing has occurred, whether by action or failure to act, which would cause the loss of such qualification. &#147;<B>ERISA Affiliate</B>&#148; means, with respect to the Company or any subsidiary, any member of any group of
organizations described in Section&nbsp;414 of the Internal Revenue Code of 1986 (as amended, the &#147;<B>Code</B>,&#148; which term, as used herein, includes the regulations and published interpretations thereunder) of which the Company, PBF LLC
or such subsidiary is a member.<B> </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I></I>2. <I>Agreements to Sell and Purchase</I>. The Company hereby agrees to sell to the
Underwriter, and the Underwriter, upon the basis of the representations and warranties herein contained, but subject to the conditions hereinafter stated, agrees to purchase from the Company, at a purchase price of $27.53 per share (the
&#147;<I></I><B>Purchase Price</B><I></I>&#148;), the Firm Shares.<I> </I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I></I>On the basis of the representations and warranties
contained in this Agreement, and subject to its terms and conditions, the Company agrees to sell to the Underwriter the Additional Shares, and the Underwriter shall have the right to purchase up to 1,500,000 Additional Shares at the Purchase Price,
<I>provided</I>, <I>however</I>, that the amount paid by the Underwriter for any Additional Shares shall be reduced by an amount per share equal to any dividends declared by the Company and payable on the Firm Shares but not payable on such
Additional Shares. You may exercise this right in whole or from time to time in part <I> </I></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-11- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>
</B>by giving written notice not later than 30 days after the date of this Agreement. Any exercise notice shall specify the number of Additional Shares to be purchased by the Underwriter and the
date on which such shares are to be purchased. Each purchase date must be at least one business day after the written notice is given and may not be earlier than the closing date for the Firm Shares nor later than ten business days after the date of
such notice. On each day, if any, that Additional Shares are to be purchased (an &#147;<B>Option Closing Date</B>&#148;), the Underwriter agree to purchase the Additional Shares to be purchased on such Option Closing Date.<B> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B></B>The Company hereby agrees that, without the prior written consent of the Underwriter, it will not, during the period ending 45 days
after the date of the Prospectus (the &#147;<B>Lock-up Period</B>&#148;), (1)&nbsp;offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to
purchase, lend, or otherwise transfer or dispose of, directly or indirectly, any shares of Common Stock or any other securities so owned convertible into or exercisable or exchangeable for Common Stock or (2)&nbsp;enter into any swap or other
arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of the Common Stock, whether any such transaction described in clause&nbsp;(1) or (2)&nbsp;above is to be settled by delivery of Common Stock
or such other securities, in cash or otherwise or (3)&nbsp;file any registration statement with the Commission relating to the offering of any shares of Common Stock or any securities convertible into or exercisable or exchangeable for Common
Stock.<B> </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The restrictions contained in the preceding paragraph shall not apply to (a)&nbsp;the Shares to be sold hereunder,
(b)&nbsp;the issuance by the Company of shares of Common Stock upon the exercise of an option or warrant or the conversion of a security outstanding on the date hereof of which the Underwriter has been advised in writing or to the extent disclosed
in the Time of Sale Prospectus, (c)&nbsp;the issuance by the Company of options or other stock-based compensation pursuant to equity compensation plans described in the Time of Sale Prospectus; <I>provided</I> that any recipients thereof enter into
lock-up agreements with the Underwriter in the form of Exhibit A hereto with respect to the remaining 45-day restricted period or any extension thereof unless such options or other stock-based compensation are not vested upon issuance and will not
become vested during the 45-day restricted period or any extension thereof or, in the case of the issuance of options, such options do not become exercisable during the 45-day restricted period or any extension thereof, (d)&nbsp;(X)&nbsp;the
establishment of a trading plan pursuant to Rule 10b5-1 under the Exchange Act for the transfer of shares of Common Stock, <I>provided</I> that (i)&nbsp;such plan does not provide for the transfer of Common Stock during the 45-day restricted period
and (ii)&nbsp;to the extent a public announcement or filing under the Exchange Act, if any, is required of or voluntarily made by the Company regarding the establishment of such plan, such announcement or filing shall include a statement to the
effect that no transfer of Common Stock may be made under such plan during the 45-day restricted period or (Y)&nbsp;the transfer of shares of Class&nbsp;A Common Stock executed under a trading plan by the undersigned pursuant to Rule 10b5-1 under
the Exchange Act as existing on the date of this Agreement, (e)&nbsp;as consideration for bona fide acquisitions, the issuance by the Company of up to an aggregate 10% of the shares of Common Stock (as adjusted for stock splits, stock dividends and
other similar events after the date hereof) issued and outstanding as of the date of such acquisition agreement (assuming all Series A Units then outstanding are exchanged for newly issued shares of Common Stock of the Company on a one for one
basis), <I>provided</I> that in the case of this clause (e), upon of receipt of securities, each recipient of such securities issued pursuant thereto shall sign and deliver a lock-up agreement in the form attached hereto as Exhibit A with respect to
the remaining 45-day restricted period or any extension thereof, and the filing of a registration statement with respect thereto, (f)&nbsp;the filing of one or more registration statements on Form S-8 with the Commission with respect to shares of
Common Stock issued or issuable under any equity compensation plan, or (g)&nbsp;the issuance of Class&nbsp;A Common Stock (including the Shares), and the filing of one or more registration statements on Form S-3 with the Commission with respect to
the issuance or resale of such shares of Class&nbsp;A Common Stock, pursuant to the Exchange Agreement described in the Prospectus, <I>provided</I> that in the case of this clause (g), any officers or directors who are recipients of such securities
issued pursuant thereto shall sign and deliver a lock-up agreement in the form attached hereto as Exhibit A with respect to the remaining 45-day restricted period or any extension thereof. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-12- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I></I>3. <I>Terms of Public Offering</I>. The Company is advised by you that the Underwriter
proposes to make a public offering of the Shares as soon after the Registration Statement and this Agreement have become effective as in your judgment is advisable. <I> </I></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I></I>4. <I>Payment and Delivery</I>. Payment for the Firm Shares shall be made to the Company in Federal or other funds immediately
available in New York City against delivery of such Firm Shares for the account of the Underwriter at 10:00&nbsp;a.m., New York City time, on December&nbsp;19, 2016, or at such other time on the same or such other date, not later than ten business
days after such date as shall be agreed upon in writing by you and the Company. The time and date of such payment are hereinafter referred to as the &#147;<I></I><B>Closing Date</B><I></I>.&#148;<I> </I></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Payment for any Additional Shares shall be made to the Company in Federal or other funds immediately available in New York City against
delivery of such Additional Shares for the account of the Underwriter at 10:00&nbsp;a.m., New York City time, on the date specified in the corresponding notice described in Section&nbsp;2 or at such other time on the same or on such other date, in
any event not later than ten business days after such date, as shall be agreed upon in writing by you and the Company. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Firm Shares
and Additional Shares shall be registered in such names and in such denominations as you shall request in writing not later than one full business day prior to the Closing Date or the applicable Option Closing Date, as the case may be. The Firm
Shares and Additional Shares shall be delivered to you on the Closing Date or an Option Closing Date, as the case may be, for the account of the Underwriter. The Purchase Price payable by the Underwriter shall be reduced by (i)&nbsp;any transfer
taxes paid by, or on behalf of, the Underwriter in connection with the transfer of the Shares to the Underwriter and (ii)&nbsp;any withholding required by law. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I></I>5. <I>Conditions to the Underwriter&#146;s Obligations</I>. The obligations of the Company to sell the Shares to the Underwriter and
the obligations of the Underwriter to purchase and pay for the Shares on the Closing Date are subject to the condition that the Registration Statement has been and remains effective as of 5:30 p.m. (New York City time) on the date hereof.<I>
</I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The obligations of the Underwriter are subject to the accuracy of the representations and warranties of the Company and PBF LLC
contained herein or in certificates of any officer of the Company, PBF LLC or any of its subsidiaries delivered pursuant to the provisions hereof, to the performance by each of the Company and PBF LLC of its covenants and other obligations
hereunder, and to the following further conditions: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) The Registration Statement has been and remains effective and at
the Closing Date, no stop order suspending the effectiveness of the Registration Statement or any post-effective amendment thereto has been issued under the Securities Act, no order preventing or suspending the use of any preliminary prospectus or
the Prospectus has been issued and no proceedings for any of those purposes have been instituted or are pending or, to the Company&#146;s knowledge, contemplated; and the Company has complied with each request (if any) from the Commission for
additional information with respect thereto. The Company shall have paid the required Commission filing fees relating to the Shares within the time period required by Rule 456(1)(i) under the 1933 Act Regulations without regard to the proviso
therein and otherwise in accordance with Rules 456(b) and 457(r) under the 1933 Act Regulations and, if applicable, shall have updated the &#147;Calculation of Registration Fee&#148; table in accordance with Rule 456(b)(1)(ii) either in a
post-effective amendment to the Registration Statement or on the cover page of a prospectus filed pursuant to Rule 424(b). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-13- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Subsequent to the execution and delivery of this Agreement and prior to the
Closing Date: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) there shall not have occurred any downgrading, nor shall any public notice have been given of any
intended or potential downgrading or of any review for a possible change that does not indicate the direction of the possible change, in the rating accorded any of the securities of the Company, PBF LLC or any of its subsidiaries by any
&#147;nationally recognized statistical rating organization,&#148; as such term is defined in Section&nbsp;3(a)(62) of the Exchange Act; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) there shall not have occurred any change, or any development involving a prospective change, in the condition, financial
or otherwise, or in the earnings, business or operations of the Company, PBF LLC and its subsidiaries, taken as a whole, from that set forth in the Time of Sale Prospectus that, in your judgment, is material and adverse and that makes it, in your
judgment, impracticable to market the Shares on the terms and in the manner contemplated in the Time of Sale Prospectus. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) The Underwriter shall have received on the Closing Date a certificate, dated the Closing Date and signed by an executive
officer of the Company, to the effect set forth in Section&nbsp;5(b) above and to the effect that the representations and warranties of the Company and PBF LLC contained in this Agreement are true and correct as of the Closing Date and that the
Company and PBF LLC have complied in all material respects with all of the agreements and satisfied all of the conditions on their part to be performed or satisfied hereunder on or before the Closing Date. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">The officer signing and delivering such certificate may rely upon the best of his or her knowledge as to proceedings
threatened. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) The Underwriter shall have received on the Closing Date an opinion and/or negative assurance letter, as
applicable, of Stroock&nbsp;&amp; Stroock&nbsp;&amp; Lavan LLP, outside counsel for the Company, dated the Closing Date, in form and substance reasonably satisfactory to the Underwriter. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) The Underwriter shall have received on the Closing Date an opinion of Cahill Gordon&nbsp;&amp; Reindel <SMALL>LLP</SMALL>,
counsel for the Underwriter, dated the Closing Date, with respect to such matters as the Underwriter may require. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) The
Underwriter shall have received, on each of the date hereof and the Closing Date, a letter dated the date hereof or the Closing Date, as the case may be, in form and substance satisfactory to the Underwriter, from each of
(i)&nbsp;Deloitte&nbsp;&amp; Touche LLP, an independent registered public accounting firm with respect to the Company and PBF LLC, (ii)&nbsp;KPMG LLP, an independent registered public accounting firm with respect to Chalmette Refining L.L.C. and
(iii)&nbsp;PricewaterhouseCoopers LLP, an independent registered public accounting firm with respect to the Torrance Refinery&nbsp;&amp; Associated Logistics Business, in each case, containing statements and information of the type ordinarily
included in accountants&#146; &#147;comfort letters&#148; to underwriters with respect to the financial statements and certain financial information contained in the Registration Statement, the Time of Sale Prospectus and the Prospectus;
<I>provided</I> that each letter delivered on the Closing Date shall use a &#147;cut-off date&#148; not earlier than the date hereof. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-14- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) The &#147;lock-up&#148; agreements, each substantially in the form of Exhibit
A hereto, between you and the officers and directors of the Company relating to sales and certain other dispositions of shares of Common Stock or certain other securities, delivered to you on or before the date hereof, shall be in full force and
effect on the Closing Date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The obligations of the Underwriter to purchase Additional Shares hereunder are subject to the following
conditions: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) The Underwriter shall have received on the applicable Option Closing Date a certificate, dated the Option
Closing Date and signed by an executive officer of the Company, confirming that the certificate delivered on the Closing Date pursuant to Section&nbsp;5(c) hereof remains true and correct as of such Option Closing Date. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) The Underwriter shall have received on the applicable Option Closing Date an opinion and/or negative assurance letter, as
applicable, of Stroock&nbsp;&amp; Stroock&nbsp;&amp; Lavan LLP, outside counsel for the Company, dated the Option Closing Date, in form and substance reasonably satisfactory to the Underwriter. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) The Underwriter shall have received on the applicable Option Closing Date an opinion of Cahill Gordon&nbsp;&amp; Reindel
<SMALL>LLP</SMALL>, counsel for the Underwriter, dated the Option Closing Date, with respect to such matters as the Underwriter may require. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) The Underwriter shall have received, on the applicable Option Closing Date, a letter dated the Option Closing Date, in
form and substance satisfactory to the Underwriter, from each of (i)&nbsp;Deloitte&nbsp;&amp; Touche LLP, an independent registered public accounting firm with respect to the Company and PBF LLC, (ii)&nbsp;KPMG LLP, an independent registered public
accounting firm with respect to Chalmette Refining L.L.C. and (iii)&nbsp;PricewaterhouseCoopers LLP, an independent registered public accounting firm with respect to the Torrance Refinery&nbsp;&amp; Associated Logistics Business, in each case,
substantially in the same form and substance as the letter furnished to the Underwriter on the Closing Date pursuant to Section&nbsp;5(f) hereof;<I> provided</I> that each letter delivered on the Option Closing Date shall use a &#147;cut-off
date&#148; not earlier than three business days prior to such Option Closing Date. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) On the applicable Option Closing
Date, the Underwriter shall have received a certificate, dated the Option Closing Date (with respect to certain financial information contained in the Time of Sale Prospectus and the Prospectus), of the Chief Financial Officer of the Company as to
the accuracy of such certain financial information contained in the Time of Sale Prospectus and the Prospectus, as applicable, in form and substance reasonably satisfactory to the Underwriter. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vi) On the applicable Option Closing Date, the Underwriter shall have received such documents as you may reasonably request
with respect to the good standing of the Company and PBF LLC, the due authorization and issuance of the Additional Shares to be sold on such Option Closing Date and other matters related to the issuance of such Additional Shares. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I></I>6. <I>Covenants of the Company and PBF LLC</I>. The Company and PBF LLC covenant with each Underwriter as follows:<I> </I></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) To furnish to you, without charge, five signed copies of the Registration Statement (including exhibits thereto and
documents incorporated by reference) and a conformed copy of the Registration Statement (without exhibits thereto but including documents incorporated by </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-15- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
reference) and to furnish to you in New York City, without charge, prior to 10:00&nbsp;a.m. New York City time on the business day next succeeding the date of this Agreement and during the period
mentioned in Section&nbsp;6(e) or 6(f) below, as many copies of the Time of Sale Prospectus, the Prospectus, any documents incorporated by reference therein and any supplements and amendments thereto or to the Registration Statement as you may
reasonably request. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Before amending or supplementing the Registration Statement, the Time of Sale Prospectus or the
Prospectus, to furnish to you a copy of each such proposed amendment or supplement and not to file any such proposed amendment or supplement to which you reasonably object, and to file with the Commission within the applicable period specified in
Rule&nbsp;424(b) under the Securities Act any prospectus required to be filed pursuant to such Rule. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) To furnish to you
a copy of each proposed free writing prospectus to be prepared by or on behalf of, used by, or referred to by the Company and not to use or refer to any proposed free writing prospectus to which you reasonably object. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) Not to take any action that would result in the Underwriter or the Company being required to file with the Commission
pursuant to Rule&nbsp;433(d) under the Securities Act a free writing prospectus prepared by or on behalf of the Underwriter that such Underwriter otherwise would not have been required to file thereunder. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) If the Time of Sale Prospectus is being used to solicit offers to buy the Shares at a time when the Prospectus is not yet
available to prospective purchasers and any event shall occur or condition exist as a result of which it is necessary to amend or supplement the Time of Sale Prospectus in order to make the statements therein, in the light of the circumstances, not
misleading, or if any event shall occur or condition exist as a result of which the Time of Sale Prospectus conflicts with the information contained in the Registration Statement then on file, or if, in the opinion of counsel for the Underwriter, it
is necessary to amend or supplement the Time of Sale Prospectus to comply with applicable law, forthwith to prepare, file with the Commission and furnish, at its own expense, to the Underwriter and to any dealer upon request, either amendments or
supplements to the Time of Sale Prospectus so that the statements in the Time of Sale Prospectus as so amended or supplemented will not, in the light of the circumstances when the Time of Sale Prospectus is delivered to a prospective purchaser, be
misleading or so that the Time of Sale Prospectus, as amended or supplemented, will no longer conflict with the Registration Statement, or so that the Time of Sale Prospectus, as amended or supplemented, will comply with applicable law. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) If, during such period after the first date of the public offering of the Shares as in the opinion of counsel for the
Underwriter the Prospectus (or in lieu thereof the notice referred to in Rule 173(a) of the Securities Act) is required by law to be delivered in connection with sales by the Underwriter or a dealer, any event shall occur or condition exist as a
result of which it is necessary to amend or supplement the Prospectus in order to make the statements therein, in the light of the circumstances when the Prospectus (or in lieu thereof the notice referred to in Rule 173(a) of the Securities Act) is
delivered to a purchaser, not misleading, or if, in the opinion of counsel for the Underwriter, it is necessary to amend or supplement the Prospectus to comply with applicable law, forthwith to prepare, file with the Commission and furnish, at its
own expense, to the Underwriter and to the dealers (whose names and addresses you will furnish to the Company) to which Shares may have been sold by you on behalf of the Underwriter and to any other dealers upon request, either amendments or
supplements to the Prospectus so that the statements in the Prospectus as so amended or supplemented will not, in the light of the circumstances when the Prospectus (or in lieu thereof the notice referred to in Rule 173(a) of the Securities Act) is
delivered to a purchaser, be misleading or so that the Prospectus, as amended or supplemented, will comply with applicable law. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-16- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I></I>(g) To endeavor to qualify the Shares for offer and sale under the
securities or Blue Sky laws of such jurisdictions as you shall reasonably request; <I>provided</I> that in no event shall the Company be obligated to qualify to do business in any jurisdiction where it is not now so qualified or to take any action
that would subject it to service of process in suits or taxation in any jurisdiction where it is not so subject.<I> </I></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(h) To make generally available to the Company&#146;s security holders and to you as soon as practicable an earnings statement
covering a period of at least twelve months beginning with the first fiscal quarter of the Company occurring after the date of this Agreement which shall satisfy the provisions of Section&nbsp;11(a) of the Securities Act and the rules and
regulations of the Commission thereunder. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I></I>7. <I>Expenses</I>. Whether or not the transactions contemplated in this Agreement are
consummated or this Agreement is terminated, the Company and PBF LLC, jointly and severally, agree with the Underwriter to pay or cause to be paid all expenses incident to the performance of its obligations under this Agreement, including:
(i)&nbsp;the fees, disbursements and expenses of the Company&#146;s counsel and the Company&#146;s accountants in connection with the registration and delivery of the Shares under the Securities Act and all other fees or expenses in connection with
the preparation and filing of the Registration Statement, any preliminary prospectus, the Time of Sale Prospectus, the Prospectus, any free writing prospectus prepared by or on behalf of, used by, or referred to by the Company and amendments and
supplements to any of the foregoing, including all printing costs associated therewith, and the mailing and delivering of copies thereof to the Underwriter and dealers, in the quantities hereinabove specified, (ii)&nbsp;all costs and expenses
related to the transfer and delivery of the Shares to the Underwriter, including any transfer or other taxes payable thereon, (iii)&nbsp;the cost of printing or producing any Blue Sky or Legal Investment memorandum in connection with the offer and
sale of the Shares under state securities laws and all expenses in connection with the qualification of the Shares for offer and sale under state securities laws as provided in Section&nbsp;6(g) hereof, including filing fees and the reasonable fees
and disbursements of counsel for the Underwriter in connection with such qualification and in connection with the Blue Sky or Legal Investment memorandum, (iv)&nbsp;all fees and expenses in connection with the preparation and filing of the
registration statement on Form 8-A relating to the Common Stock and all costs and expenses incident to listing the Shares on the NYSE, (v)&nbsp;the cost of printing certificates representing the Shares, (vi)&nbsp;the costs and charges of any
transfer agent, registrar or depositary, (vii)&nbsp;the document production charges and expenses associated with printing this Agreement and all other costs and expenses incident to the performance of the obligations of the Company hereunder for
which provision is not otherwise made in this Section. It is understood, however, that except as provided in this Section, Section&nbsp;9 entitled &#147;Indemnity and Contribution&#148;, and the last paragraph of Section&nbsp;11 below, the
Underwriter will pay all of its own costs and expenses, including fees and disbursements of its counsel, road show expenses, stock transfer taxes payable on resale of any of the Shares by it and any advertising expenses connected with any offers it
may make and other expenses incurred by the Underwriter on its own behalf in connection with presentations to prospective purchasers of the Shares.<I> </I></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I></I>8. <I>Covenants of the Underwriter</I>. The Underwriter covenants with the Company not to take any action that would result in the
Company being required to file with the Commission under Rule&nbsp;433(d) a free writing prospectus prepared by or on behalf of the Underwriter that otherwise would not be required to be filed by the Company thereunder, but for the action of the
Underwriter.<I> </I></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-17- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">9. <I>Indemnity and Contribution</I>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) The Company and PBF LLC, jointly and severally, agree to indemnify and hold harmless the Underwriter, each person, if any, who controls the
Underwriter within the meaning of either Section&nbsp;15 of the Securities Act or Section&nbsp;20 of the Exchange Act, each affiliate of the Underwriter within the meaning of Rule&nbsp;405 under the Securities Act from and against any and all
losses, claims, damages and liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) and each selling agent of the Underwriter caused by any
untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto, any issuer free writing
prospectus as defined in Rule 433(h) under the Securities Act, any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any &#147;road show&#148; as defined in Rule 433(h) under
the Securities Act (a &#147;road show&#148;), or the Prospectus or any amendment or supplement thereto, or caused by any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements
therein not misleading, except insofar as such losses, claims, damages or liabilities are caused by any such untrue statement or omission or alleged untrue statement or omission based upon information relating to the Underwriter furnished to the
Company in writing by the Underwriter expressly for use therein, it being understood and agreed that the only such information consists of the information described as such in subsection (b)&nbsp;below. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I></I>(b) The Underwriter agrees to indemnify and hold harmless the Company, the directors of the Company, the officers of the Company who
sign the Registration Statement and each person, if any, who controls the Company within the meaning of either Section&nbsp;15 of the Securities Act or Section&nbsp;20 of the Exchange Act, from and against any and all losses, claims, damages and
liabilities (including, without limitation, any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) caused by any untrue statement or alleged untrue statement of a material fact
contained in the Registration Statement or any amendment thereof, any preliminary prospectus, the Time of Sale Prospectus or any amendment or supplement thereto, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act,
any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act, any road show or the Prospectus or any amendment or supplement thereto, or caused by any omission or alleged omission to
state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, but only with reference to information relating to the Underwriter furnished to the Company in writing by the Underwriter
expressly for use in the Registration Statement, any preliminary prospectus, the Time of Sale Prospectus, any issuer free writing prospectus, road show, or the Prospectus or any amendment or supplement thereto; <I>provided</I> that, with respect to
the preceding clause, the Company and PBF LLC acknowledge that the only information furnished in writing by the Underwriter expressly for use in the Registration Statement, any preliminary prospectus, the Time of Sale Prospectus, any issuer free
writing prospectus, road show or the Prospectus or any amendment or supplement thereto is the information set forth on the cover page of the Prospectus regarding delivery of Shares, and the fourth, ninth, tenth, eleventh, twelfth, thirteenth and
fifteenth paragraphs under the &#147;Underwriting&#148; section.<I> </I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) In case any proceeding (including any governmental
investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section&nbsp;9(a) or 9(b) such person (the &#147;<B>indemnified party</B>&#148;) shall promptly notify the person against whom such
indemnity may be sought (the &#147;<B>indemnifying party</B>&#148;) in writing (but the failure to so notify the indemnifying party shall not relieve it from any liability that it may have under subsection (a)&nbsp;or (b)&nbsp;above except to the
extent that it has been materially prejudiced by such failure (through the forfeiture of substantive rights and defenses)) and the indemnifying party, upon request of the indemnified party, shall retain counsel reasonably satisfactory to the
indemnified party to represent the indemnified party and any others the indemnifying party </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-18- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
may designate in such proceeding and shall pay the fees and disbursements of such counsel related to such proceeding. In any such proceeding, any indemnified party shall have the right to retain
its own counsel, but the fees and expenses of such counsel shall be at the expense of such indemnified party unless (i)&nbsp;the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel or
(ii)&nbsp;the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or
potential differing interests between them. It is understood that the indemnifying party shall not, in respect of the legal expenses of any indemnified party in connection with any proceeding or related proceedings in the same jurisdiction, be
liable for (i)&nbsp;the fees and expenses of more than one separate firm (in addition to any local counsel) for the Underwriter and all persons, if any, who control the Underwriter within the meaning of either Section&nbsp;15 of the Securities Act
or Section&nbsp;20 of the Exchange Act or who are affiliates of the Underwriter within the meaning of Rule&nbsp;405 under the Securities Act and (ii)&nbsp;the fees and expenses of more than one separate firm (in addition to any local counsel) for
the Company, its directors, its officers who sign the Registration Statement and each person, if any, who controls the Company within the meaning of either such Section, and that all such fees and expenses shall be reimbursed as they are incurred.
In the case of any such separate firm for the Underwriter and such control persons and affiliates of the Underwriter, such firm shall be designated in writing by Wells Fargo Securities, LLC. In the case of any such separate firm for the Company, and
such directors, officers and control persons of the Company, such firm shall be designated in writing by the Company. The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but if
settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the
foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the
indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i)&nbsp;such settlement is entered into more than 30 days after receipt by such indemnifying party of the aforesaid
request and (ii)&nbsp;such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement. No indemnifying party shall, without the prior written consent of the indemnified
party, effect any settlement of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement includes an
unconditional release of such indemnified party from all liability on claims that are the subject matter of such proceeding. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) To the
extent the indemnification provided for in Section&nbsp;9(a) or 9(b) is unavailable to an indemnified party or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each indemnifying party under such
paragraph, in lieu of indemnifying such indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (i)&nbsp;in such proportion as is appropriate
to reflect the relative benefits received by the indemnifying party or parties on the one hand and the indemnified party or parties on the other hand from the offering of the Shares or (ii)&nbsp;if the allocation provided by clause&nbsp;9(d)(i)
above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause&nbsp;9(d)(i) above but also the relative fault of the indemnifying party or parties on the one hand and of
the indemnified party or parties on the other hand in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received by
the Company and PBF LLC on the one hand and the Underwriter on the other hand in connection with the offering of the Shares shall be deemed to be in the same respective proportions as the net proceeds from the offering of the Shares (before
deducting expenses) received by the Company and the total underwriting discounts and commissions received by the Underwriter, in each case as set forth in the table on the cover of the Prospectus, bear to the aggregate public offering price of the
Shares set forth on the cover of the Prospectus. The relative fault of the Company </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-19- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
and PBF LLC on the one hand and the Underwriter on the other hand shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the
omission or alleged omission to state a material fact relates to information supplied by the Company, PBF LLC or by the Underwriter (it being understood and agreed that the only such information by any Underwriter consists of the information
described as such in subsection (b)&nbsp;above) and the parties&#146; relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I></I>(e) The Company, PBF LLC and the Underwriter agree that it would not be just or equitable if contribution pursuant to this
Section&nbsp;9 were determined by <I>pro rata</I> allocation or by any other method of allocation that does not take account of the equitable considerations referred to in Section&nbsp;9(d). The amount paid or payable by an indemnified party as a
result of the losses, claims, damages and liabilities referred to in Section&nbsp;9(d) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection
with investigating or defending any such action or claim. Notwithstanding the provisions of this Section&nbsp;9, the Underwriter shall not be required to contribute any amount in excess of the amount by which the total price at which the Shares
underwritten by it and distributed to the public were offered to the public exceeds the amount of any damages that the Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged
omission. No person guilty of fraudulent misrepresentation (within the meaning of Section&nbsp;11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The remedies
provided for in this Section&nbsp;9 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity.<I> </I></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) The indemnity and contribution provisions contained in this Section&nbsp;9 and the representations, warranties and other statements of the
Company and PBF LLC contained in this Agreement shall remain operative and in full force and effect regardless of (i)&nbsp;any termination of this Agreement, (ii)&nbsp;any investigation made by or on behalf of the Underwriter, any person controlling
the Underwriter or any affiliate of the Underwriter, PBF LLC or any person controlling PBF LLC, or the Company, their officers or directors or any person controlling the Company or PBF LLC and (iii)&nbsp;acceptance of and payment for any of the
Shares. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I></I>10. <I>Termination</I>. The Underwriter may terminate this Agreement by notice given by you to the Company, if after the
execution and delivery of this Agreement and prior to the Closing Date (i)&nbsp;trading generally shall have been suspended or materially limited on, or by, as the case may be, any of the NYSE, the American Stock Exchange, the NASDAQ Global Market,
the Chicago Board of Options Exchange, the Chicago Mercantile Exchange or the Chicago Board of Trade, (ii)&nbsp;trading of any securities of the Company shall have been suspended on any exchange or in any over-the-counter market, (iii)&nbsp;a
material disruption in securities settlement, payment or clearance services in the United States or other relevant jurisdiction shall have occurred, (iv)&nbsp;any moratorium on commercial banking activities shall have been declared by Federal or New
York State authorities or (v)&nbsp;there shall have occurred any outbreak or escalation of hostilities, or any change in financial markets or any calamity or crisis that, in your judgment, is material and adverse and which, singly or together with
any other event specified in this clause (v), makes it, in your judgment, impracticable or inadvisable to proceed with the offer, sale or delivery of the Shares on the terms and in the manner contemplated in the Time of Sale Prospectus or the
Prospectus.<I> </I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">11. <I>Effectiveness</I>. This Agreement shall become effective upon the execution and delivery hereof by the parties
hereto. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">If this Agreement shall be terminated by the Underwriter because of any failure or refusal on the part of the Company or PBF LLC
to comply with the terms or to fulfill any of the conditions of this Agreement, or if for any reason the Company or PBF LLC shall be unable to perform its obligations </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-20- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
under this Agreement, the Company and PBF LLC will reimburse the Underwriter for all out-of-pocket expenses (including the reasonable fees and disbursements of their external counsel) reasonably
incurred by the Underwriter in connection with this Agreement or the offering contemplated hereunder. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">12. <I>Entire Agreement</I>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) This Agreement, together with any contemporaneous written agreements and any prior written agreements (to the extent not superseded by
this Agreement) that relate to the offering of the Shares, represents the entire agreement between the Company and PBF LLC, on the one hand, and the Underwriter, on the other, with respect to the preparation of any preliminary prospectus, the Time
of Sale Prospectus, the Prospectus, the conduct of the offering, and the purchase and sale of the Shares. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) The Company acknowledges
that in connection with the offering of the Shares: (i)&nbsp;the Underwriter has acted at arm&#146;s length, is not an agent of, and owes no fiduciary duties to, the Company or any other person, (ii)&nbsp;the Underwriter owes the Company only those
duties and obligations set forth in this Agreement and prior written agreements (to the extent not superseded by this Agreement), if any, and (iii)&nbsp;the Underwriter may have interests that differ from those of the Company. The Company waives to
the full extent permitted by applicable law any claims it may have against the Underwriter arising from an alleged breach of fiduciary duty in connection with the offering of the Shares. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I></I>13. <I>Counterparts</I>. This Agreement may be signed in two or more counterparts, each of which shall be an original, with the same
effect as if the signatures thereto and hereto were upon the same instrument.<I> </I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I></I>14. <I>Applicable Law</I>. This Agreement and
any claim, controversy or dispute arising under or related to this Agreement shall be governed by and construed in accordance with the internal laws of the State of New York.<I> </I></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I></I>15. <I>Headings</I>. The headings of the sections of this Agreement have been inserted for convenience of reference only and shall not
be deemed a part of this Agreement.<I> </I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">16. <I>Notices</I>. All communications hereunder shall be in writing and effective only upon
receipt and if to the Underwriter shall be delivered, mailed or sent to you in care of: Wells Fargo Securities, LLC, 375 Park Avenue, New York, New York 10152, Fax: (212)&nbsp;214-5918, Attention: Equity Syndicate Department; if to the Company shall
be delivered, mailed or sent to 1 Sylvan Way, 2nd Floor, Parsippany, NJ 07054, Fax: (973)&nbsp;455-7562, Attention: General Counsel, with a copy to Stroock&nbsp;&amp; Stroock&nbsp;&amp; Lavan LLP, 180 Maiden Lane, New York, NY 10038, Fax:
(212)&nbsp;806-6006, Attention: Todd Lenson. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[Remainder of Page Intentionally Left Blank.] </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-21- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Very truly yours,</P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">PBF ENERGY INC.</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Trecia Canty</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Name:&nbsp;&nbsp;Trecia Canty</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Title:&nbsp;&nbsp;&nbsp;&nbsp;Secretary</TD></TR>
</TABLE></DIV> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">PBF ENERGY COMPANY LLC</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Trecia Canty</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Name:&nbsp;&nbsp;Trecia Canty</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Title:&nbsp;&nbsp;&nbsp;&nbsp;Secretary</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-22- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Accepted as of the date hereof </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">WELLS FARGO SECURITIES, LLC </P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="7%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ David Herman</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Name:&nbsp;&nbsp;David Herman</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Title:&nbsp;&nbsp;&nbsp;&nbsp;Director</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-23- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">SCHEDULE I </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>TIME OF SALE PROSPECTUS </B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">1.</TD>
<TD ALIGN="left" VALIGN="top">Preliminary Prospectus issued December&nbsp;13, 2016. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">2.</TD>
<TD ALIGN="left" VALIGN="top">Number of shares: 10,000,000 </TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">I-1 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">EXHIBIT A </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>FORM OF LOCK-UP LETTER </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>,
20<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Wells Fargo Securities, LLC </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">375 Park Avenue </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">4th Floor </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">New York, New York 10152 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ladies and Gentlemen:
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The undersigned understands that Wells Fargo Securities, LLC (the &#147;<B>Underwriter</B>&#148;) proposes to enter into an Underwriting
Agreement (the &#147;<B>Underwriting Agreement</B>&#148;) with PBF Energy Inc., a Delaware corporation (the &#147;<B>Company</B>&#148;), and PBF Energy Company LLC, a Delaware limited liability company (&#147;<B>PBF LLC</B>&#148;), providing for a
public offering (the &#147;<B>Public Offering</B>&#148;) by the Underwriter of shares (the &#147;<B>Shares</B>&#148;) of its Class&nbsp;A Common Stock (the &#147;<B>Common Stock</B>&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B></B>To induce the Underwriter to continue its efforts in connection with the Public Offering, the undersigned hereby agrees that, without
the prior written consent of the Underwriter, it will not, during the period commencing on the date hereof and ending 45 days after the date of the final prospectus supplement relating to the Public Offering (the &#147;<B>Prospectus</B>&#148;),
(1)&nbsp;offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, lend, or otherwise transfer or dispose of, directly or indirectly, any
shares of Common Stock beneficially owned (as such term is used in Rule 13d-3 of the Securities Exchange Act of 1934, as amended (the &#147;<B>Exchange Act</B>&#148;)), by the undersigned or any other securities so owned convertible into or
exercisable or exchangeable for Common Stock or (2)&nbsp;enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of the Common Stock, whether any such transaction
described in clause (1)&nbsp;or (2)&nbsp;above is to be settled by delivery of Common Stock or such other securities, in cash or otherwise. In addition, the undersigned agrees that, without the prior written consent of the Underwriter, it will not,
during the period commencing on the date hereof and ending 45 days after the date of the Prospectus, make any demand for or exercise any right with respect to, the registration of any shares of Common Stock or any security convertible into or
exercisable or exchangeable for Common Stock.<B> </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The foregoing paragraph shall not apply to: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I></I>(a) transactions relating to shares of Common Stock or other securities acquired in open market transactions after the completion of the
Public Offering, <I>provided</I> that no filing under Section&nbsp;16(a) of the Exchange Act, reporting a reduction in beneficial ownership of shares of Common Stock, shall be required or shall be voluntarily made during the restricted period
referred to in the foregoing paragraph in connection with subsequent sales of such Common Stock or other securities;<I> </I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) transfers
of shares of Common Stock or any security convertible into or exchangeable or exercisable for Common Stock (i)&nbsp;as a bona fide gift or for bona fide estate planning purposes, (ii)&nbsp;upon death or by will, testamentary document or intestate
succession, (iii)&nbsp;to an immediate family member of the undersigned or to any trust for the direct or indirect benefit of the undersigned or the immediate family of the undersigned, (iv)&nbsp;not involving a change in beneficial ownership, or
(v)&nbsp;if the undersigned is a trust, to any beneficiary of the undersigned or to the estate of any such beneficiary; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">A-1 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B></B>(c) distributions of shares of Common Stock or any security convertible into or
exchangeable or exercisable for Common Stock to any direct or indirect affiliates (within the meaning set forth in Rule 405 as promulgated by the SEC under the Securities Act of 1933, as amended (the &#147;<B>Securities Act</B>&#148;)), current or
former partners (general or limited), members or managers of the undersigned, as applicable, or to the estates of any such partners, members or managers, <B></B><I>provided</I><B></B> that in the case of any transfer or distribution pursuant to
clauses (b)&nbsp;or (c), (i)&nbsp;each transferee, donee or distributee shall sign and deliver a lock-up letter substantially in the form of this letter and (ii)&nbsp;no filing under Section&nbsp;16(a) of the Exchange Act (other than a filing on
Form 5), reporting a reduction in beneficial ownership of shares of Common Stock, shall be required or shall be voluntarily made during the restricted period referred to in the foregoing paragraph;<B> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) (x) the establishment of a trading plan pursuant to Rule 10b5-1 under the Exchange Act for the transfer of shares of Common Stock or any
security convertible into or exchangeable or exercisable for Common Stock, <I>provided</I> that (i)&nbsp;such plan does not provide for the transfer of Common Stock or any security convertible into or exchangeable or exercisable for Common Stock
during the restricted period and (ii)&nbsp;to the extent a public announcement or filing under the Exchange Act, if any, is required of or voluntarily made by or on behalf of the undersigned or the Company regarding the establishment of such plan,
such announcement or filing shall include a statement to the effect that no transfer of Common Stock may be made under such plan during the restricted period, or (y)&nbsp;the transfer of shares of Class&nbsp;A Common Stock executed under a trading
plan by the undersigned pursuant to Rule 10b5-1 under the Exchange Act as existing on the date of the Underwriting Agreement; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) the
exercise by the undersigned of any outstanding warrants or the exercise or vesting of any equity awards pursuant to employee benefit plans or the sale of any shares of Common Stock or any security convertible into or exchangeable or exercisable for
Common Stock underlying warrants or equity awards as part of the cashless exercise of, or for the payment of tax withholdings on, such securities, in each case in connection with equity awards disclosed in the Time of Sale Prospectus or warrants
held by the undersigned as of the date of this agreement in accordance with their terms; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) the transfer of shares of Common Stock or
any security convertible into or exercisable or exchangeable for Common Stock that occurs by operation of law, such as pursuant to a qualified domestic order or in connection with a divorce settlement; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) any transfer of shares of Common Stock or any security convertible into or exercisable or exchangeable for Common Stock to the Company or
PBF LLC, pursuant to agreements under which the Company or PBF LLC has the option to repurchase such shares or a right of first refusal with respect to transfers of such shares; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(h) in the event of undue hardship, any transfer of shares after notice to, and with the prior written consent (not to be unreasonably
withheld) of, the Underwriter; or </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I></I>(i) any transfer of Series A Units or Series B Units to the Company pursuant to the Exchange
Agreement described in the Prospectus and the issuance by the Company of shares of Common Stock in connection therewith; <I>provided</I> that in the case of any transfer or distribution pursuant to this clause (i), each transferee shall sign and
deliver a lock-up letter substantially in the form of this letter.<I> </I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The undersigned also agrees and consents to the entry of stop
transfer instructions with the Company&#146;s transfer agent and registrar against the transfer of the undersigned&#146;s shares of Common Stock except in compliance with the foregoing restrictions. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">A-2 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The undersigned understands that the Company and the Underwriter is relying upon this agreement
in proceeding toward consummation of the Public Offering. The undersigned further understands that this agreement is irrevocable and shall be binding upon the undersigned&#146;s heirs, legal representatives, successors and assigns. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This agreement shall automatically terminate upon the earliest of: (i)&nbsp;January 30, 2017, if the Public Offering shall not have occurred
on or before that date, (ii)&nbsp;the date that the Company advises the Underwriter, in writing, prior to the execution of the Underwriting Agreement, that it has determined not to proceed with the Public Offering, and (iii)&nbsp;termination of the
Underwriting Agreement (other than the provisions thereof which survive termination) prior to the sale of any of the Shares to the Underwriter. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Whether or not the Public Offering actually occurs depends on a number of factors, including market conditions. Any Public Offering will only
be made pursuant to an Underwriting Agreement, the terms of which are subject to negotiation between the Company and the Underwriter. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">A-3 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="100%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Very truly yours,</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:3pt">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">(Name)</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> &nbsp;<P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:3pt">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">(Address)</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">A-4 </P>

</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>3
<FILENAME>d305355dex51.htm
<DESCRIPTION>EX-5.1
<TEXT>
<HTML><HEAD>
<TITLE>EX-5.1</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">Exhibit 5.1 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Stroock&nbsp;&amp; Stroock&nbsp;&amp; Lavan LLP </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">180 Maiden Lane </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">New York, NY 10038
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">December&nbsp;13, 2016 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">PBF Energy Inc. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">One Sylvan Way, Second Floor </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Parsippany, NJ 07054 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ladies and Gentlemen: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We have acted as counsel to PBF Energy
Inc., a Delaware corporation (the &#147;Company&#148;), in connection with the offer and sale by it of an aggregate of 11,500,000 shares of Class&nbsp;A common stock, par value $0.001 per share of the Company (the &#147;Shares&#148;), including
1,500,000 shares of Class&nbsp;A common stock that may be sold pursuant to the exercise of an over-allotment option. The Shares are to be sold by the Company pursuant to the underwriting agreement, dated as of December&nbsp;13, 2016 (the
&#147;Underwriting Agreement&#148;), among the Company, PBF Energy Company LLC and the Underwriter named therein. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In furnishing this opinion, we have
examined copies of (a)&nbsp;the Amended and Restated Certificate of Incorporation of the Company, (b)&nbsp;the Amended and Restated Bylaws of the Company, (c)&nbsp;the Exchange Agreement, (d)&nbsp;the Amended and Restated Limited Liability Company
Agreement of PBF Energy Company LLC, (e)&nbsp;the Company&#146;s Registration Statement on Form S-3 (File No.&nbsp;333-193210) (the &#147;Registration Statement&#148;), (f)&nbsp;the prospectus dated January&nbsp;6, 2014 contained within the
Registration Statement, (g)&nbsp;the preliminary prospectus supplement dated December&nbsp;13, 2016 relating to the Shares, (h)&nbsp;the prospectus supplement dated December&nbsp;13, 2016 relating to the Shares, (i)&nbsp;the Underwriting Agreement
and (j)&nbsp;the form of Class&nbsp;A common stock certificate of the Company. We also have examined the originals, or duplicates or certified or conformed copies, of such corporate and other records, agreements, documents and other instruments and
have made such other investigations as we have deemed relevant and necessary in connection with the opinions hereinafter set forth. As to questions of fact material to this opinion, we have relied upon certificates or comparable documents of public
officials and of officers and representatives of the Company. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In rendering the opinion set forth below, we have assumed the genuineness of all
signatures, the legal capacity of natural persons, the authenticity of all documents submitted to us as originals, the conformity to original documents of all documents submitted to us as duplicates or certified or conformed copies and the
authenticity of the originals of such latter documents. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Based upon the foregoing, and subject to the qualifications, assumptions and limitations stated
herein, we are of the opinion that the Shares, when issued and sold in accordance with the Underwriting Agreement and the prospectus supplement to the Registration Statement, will be duly authorized, validly issued, fully paid and nonassessable.
</P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We do not express any opinion herein concerning any law other than the Delaware General Corporation Law. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We hereby consent to the filing of this opinion letter as Exhibit 5.1 to a Current Report on Form 8-K and to the use of our name under the caption &#147;Legal
Matters&#148; in the prospectus supplement to the Registration Statement. In giving such consent, we do not admit hereby that we come within the category of persons whose consent is required under Section&nbsp;7 of the Act or the rules and
regulations of the Commission thereunder. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Very truly yours, </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">/s/ Stroock&nbsp;&amp; Stroock&nbsp;&amp; Lavan LLP </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">STROOCK&nbsp;&amp; STROOCK&nbsp;&amp; LAVAN LLP </P>
</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>4
<FILENAME>d305355dex991.htm
<DESCRIPTION>EX-99.1
<TEXT>
<HTML><HEAD>
<TITLE>EX-99.1</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 99.1 </B></P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt;margin-bottom:0pt">


<IMG SRC="g305355g1214110412128.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>PBF Energy Announces Public Offering of its Class&nbsp;A Common Stock </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">PARSIPPANY, NJ &#150; December&nbsp;13, 2016 &#150; PBF Energy Inc. (NYSE:PBF) (&#147;PBF Energy&#148;) announced today that it has commenced an underwritten
public offering (the &#147;Offering&#148;) of 10,000,000 shares of its Class&nbsp;A common stock. The underwriters have an option to purchase up to 1,500,000 additional shares. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company intends to use the net proceeds from this offering for general corporate purposes, including for repayment of indebtedness, working capital,
capital expenditures and potential acquisitions. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Wells Fargo Securities is the underwriter of the Offering. The offering of these securities is being
made by means of a prospectus supplement and the accompanying prospectus only, copies of which may be obtained from Wells Fargo Securities, Attn: Equity Syndicate Department, 375 Park Avenue, New York, NY 10152 (tel:
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">800-326-5897)</FONT></FONT> or via email at <U>cmclientsupport@wellsfargo.com</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">These documents may also be obtained free of charge when they are available from the Securities and Exchange Commission&#146;s website (&#147;SEC&#148;) at
<U>www.sec.gov</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, any of the securities described
herein, nor shall there be any sale of these securities, in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. The offering will be
made only by means of a prospectus and related prospectus supplement meeting the requirements of Section&nbsp;10 of the Securities Act of 1933, as amended. The offering is made pursuant to an effective shelf registration statement and prospectus
filed by PBF Energy with the SEC. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Forward-Looking Statements </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Statements in this press release relating to future plans, results, performance, expectations, achievements and the like are considered &#147;forward-looking
statements&#148; within the meaning of the Private Securities Litigation Reform Act of 1995. </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">These forward-looking statements include, without limitation,
the company&#146;s expectations with respect to the offering and the anticipated use of proceeds therefrom. These forward-looking statements involve known and unknown risks, uncertainties and other factors, many of which may be beyond the
company&#146;s control, that may cause actual results to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors and uncertainties that may cause actual results to differ
include but are not limited to the risks described above, the risks relating to the offering not closing and the securities market generally, and the risks disclosed in the company&#146;s filings with the SEC. All forward-looking statements speak
only as of the date hereof. The company undertakes no obligation to revise or update any forward-looking statements except as may be required by applicable law. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>About PBF Energy Inc. </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">PBF Energy Inc. (NYSE:PBF) is one
of the largest independent refiners in North America, operating, through its subsidiaries, oil refineries and related facilities in California, Delaware, Louisiana, New Jersey and Ohio. Our mission is to operate our facilities in a safe, reliable
and environmentally responsible manner, provide employees with a safe and rewarding workplace, become a positive influence in the communities where we do business, and provide superior returns to our investors. </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">PBF Energy Inc. also currently indirectly owns the general partner and approximately 44.2% of the limited
partnership interest of PBF Logistics LP (NYSE: PBFX). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">### </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Contacts:&nbsp;&nbsp;&nbsp;&nbsp; </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Colin Murray
(investors)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>ir@pbfenergy.com </U></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Tel: 973.455.7578&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Michael C. Karlovich (media) </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>mediarelations@pbfenergy.com
</U></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Tel: 973.455.8994 </P>
</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>5
<FILENAME>d305355dex992.htm
<DESCRIPTION>EX-99.2
<TEXT>
<HTML><HEAD>
<TITLE>EX-99.2</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 99.2 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt;margin-bottom:0pt">


<IMG SRC="g305355g1214110533613.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>PBF Energy Prices Public Offering of 10,000,000 Shares of Class&nbsp;A Common Stock </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">PARSIPPANY, NJ &#150; December&nbsp;13, 2016 &#150; PBF Energy Inc. (NYSE:PBF) (&#147;PBF Energy&#148;) announced today that it has priced its previously
announced underwritten public offering (the &#147;Offering&#148;) of 10,000,000 shares of its Class&nbsp;A common stock for total gross proceeds of approximately $277.5&nbsp;million. The underwriter has offered the shares at prevailing market prices
or otherwise from time to time through the New York Stock Exchange, in the <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">over-the-counter</FONT></FONT> market or through negotiated transactions. The underwriter has a <FONT
STYLE="white-space:nowrap">30-day</FONT> option to purchase up to 1,500,000 additional shares. The Offering is expected to close on December&nbsp;19, 2016, subject to customary closing conditions. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company intends to use the net proceeds from this offering for general corporate purposes, including for repayment of indebtedness, working capital,
capital expenditures and potential acquisitions. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Wells Fargo Securities is the underwriter of the Offering. The offering of these securities is being
made by means of a prospectus supplement and the accompanying prospectus only, copies of which may be obtained from Wells Fargo Securities, Attn: Equity Syndicate Department, 375 Park Avenue, New York, NY 10152 (tel:
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">800-326-5897)</FONT></FONT> or via email at <U>cmclientsupport@wellsfargo.com</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">These documents may also be obtained free of charge when they are available from the Securities and Exchange Commission&#146;s website (&#147;SEC&#148;) at
<U>www.sec.gov</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, any of the securities described
herein, nor shall there be any sale of these securities, in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. The offering will be
made only by means of a prospectus and related prospectus supplement meeting the requirements of Section&nbsp;10 of the Securities Act of 1933, as amended. The offering is made pursuant to an effective shelf registration statement and prospectus
filed by PBF Energy with the SEC. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Forward-Looking Statements </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Statements in this press release relating to future plans, results, performance, expectations, achievements and the like are considered &#147;forward-looking
statements&#148; within the meaning of the Private Securities Litigation Reform Act of 1995. </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">These forward-looking statements include, without limitation,
the company&#146;s expectations with respect to the offering and the anticipated use of proceeds therefrom. These forward-looking statements involve known and unknown risks, uncertainties and other factors, many of which may be beyond the
company&#146;s control, that may cause actual results to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors and uncertainties that may cause actual results to differ
include but are not limited to the risks described above, the risks relating to the offering not closing and the securities market generally, and the risks disclosed in the company&#146;s filings with the SEC. All forward-looking statements speak
only as of the date hereof. The company undertakes no obligation to revise or update any forward-looking statements except as may be required by applicable law. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>About PBF Energy Inc. </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">PBF Energy Inc. (NYSE:PBF) is one
of the largest independent refiners in North America, operating, through its subsidiaries, oil refineries and related facilities in California, Delaware, Louisiana, New Jersey and Ohio. Our mission is to operate our facilities in a safe, reliable
and environmentally responsible manner, provide employees with a safe and rewarding workplace, become a positive influence in the communities where we do business, and provide superior returns to our investors. </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">PBF Energy Inc. also currently indirectly owns the general partner and approximately 44.2% of the limited
partnership interest of PBF Logistics LP (NYSE: PBFX). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">### </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Contacts:&nbsp;&nbsp;&nbsp;&nbsp; </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Colin Murray
(investors)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>ir@pbfenergy.com </U></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Tel: 973.455.7578&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Michael C. Karlovich (media) </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>mediarelations@pbfenergy.com
</U></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Tel: 973.455.8994 </P>
</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>6
<FILENAME>g305355g1214110412128.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g305355g1214110412128.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  @&!@<&!0@'!P<)"0@*#!0-# L+
M#!D2$P\4'1H?'AT:'!P@)"XG("(L(QP<*#<I+# Q-#0T'R<Y/3@R/"XS-#+_
MVP!# 0D)"0P+#!@-#1@R(1PA,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R
M,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C+_P  1" !F 'X# 2(  A$! Q$!_\0
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M)_+UKC/A/X7,A?Q-?J7D9F6UW\G/\4GUZ@?C69\1;B;Q+\0;/0+9OE@*0#N
M[X+-^ Q_WS78^.];F\#^$K"+1BD4@D6",,H;"*ISP>_ _.G2INM544=F(JK
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M&<''J37=E27M>:72_P#D>?Q1)^T=./117RM<XS0M=O?#NI"_T\QBX"% 73<
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0RDY.[=V%%%% @HHHH __V0$!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>7
<FILENAME>g305355g1214110533613.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g305355g1214110533613.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  @&!@<&!0@'!P<)"0@*#!0-# L+
M#!D2$P\4'1H?'AT:'!P@)"XG("(L(QP<*#<I+# Q-#0T'R<Y/3@R/"XS-#+_
MVP!# 0D)"0P+#!@-#1@R(1PA,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R
M,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C+_P  1" !F 'X# 2(  A$! Q$!_\0
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M)_+UKC/A/X7,A?Q-?J7D9F6UW\G/\4GUZ@?C69\1;B;Q+\0;/0+9OE@*0#N
M[X+-^ Q_WS78^.];F\#^$K"+1BD4@D6",,H;"*ISP>_ _.G2INM544=F(JK
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M&<''J37=E27M>:72_P#D>?Q1)^T=./117RM<XS0M=O?#NI"_T\QBX"% 73<
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0RDY.[=V%%%% @HHHH __V0$!

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
