
	Three Months Ended March 31,
(in millions, except share and per share amounts)		2026		2025
Basic Earnings Per Share:
Allocation of earnings:
Net income (loss) attributable to PBF Energy Inc. stockholders		$	198.3	$	(401.8)
Less: Income allocated to participating securities		—		—
Income (loss) available to PBF Energy Inc. stockholders - basic		$	198.3	$	(401.8)
Denominator for basic net income (loss) per PBF Energy Class A common share - weighted average shares		117,194,615		113,754,290
Basic net income (loss) attributable to PBF Energy per Class A common share		$	1.69	$	(3.53)

Diluted Earnings Per Share:
Numerator:
Income (loss) available to PBF Energy Inc. stockholders - basic		$	198.3	$	(401.8)
Plus: Net income (loss) attributable to noncontrolling interest (1)		1.8		(4.1)
Less: Income tax (benefit) expense on net income (loss) attributable to noncontrolling interest (1)		(0.5)		1.0
Numerator for diluted net income (loss) per PBF Energy Class A common share - net income (loss) attributable to PBF Energy Inc. stockholders (1)		$	199.6	$	(404.9)

Denominator: (1)
Denominator for basic net income (loss) per PBF Energy Class A common share-weighted average shares		117,194,615		113,754,290
Effect of dilutive securities: (2)
Conversion of PBF LLC Series A Units		862,219		862,780
Common stock equivalents		2,524,228		—
Denominator for diluted net income (loss) per PBF Energy Class A common share-adjusted weighted average shares		120,581,062		114,617,070
Diluted net income (loss) attributable to PBF Energy Inc. stockholders per PBF Energy Class A common share		$	1.65	$	(3.53)

(1) The diluted earnings per share calculation generally assumes the conversion of all outstanding PBF LLC Series A Units to PBF Energy Class A common stock. The net income (loss) attributable to PBF Energy used in the numerator of the diluted earnings per share calculation is adjusted to reflect the net income (loss), as well as the corresponding income tax (benefit) expense (based on a 26.0% estimated annualized statutory corporate tax rate for both the three months ended March 31, 2026 and 2025) attributable to the converted units.

(2) Represents an adjustment to weighted-average diluted shares outstanding to assume the full exchange of common stock equivalents, including options and warrants for PBF LLC Series A Units and performance share units and options for shares of PBF Energy Class A common stock as calculated under the treasury stock method (to the extent the impact of such exchange would not be anti-dilutive). Common stock equivalents exclude the effects of performance share units and options and warrants to purchase 966,874 and 6,955,541 shares of PBF Energy Class A common stock and PBF LLC Series A Units because they are anti-dilutive for the three months ended March 31, 2026 and 2025, respectively. For periods showing a net loss, all common stock equivalents and unvested restricted stock are considered anti-dilutive.