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8-K
DELEK US HOLDINGS, INC. filed this Form 8-K on 11/27/2017
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Increased Drop Down Inventory Creates Platform to Support Logistics Growth 15 Potential Growth for DKL • Delek Logistics Partners provides platform to unlock logistics value • Increased access to Permian and Delaware basin through presence of Big Spring refinery • Improves ability to develop crude oil gathering and terminalling assets 1) Information for illustrative purposes only to show potential based on estimated dropdown assets listed. Actual amounts will vary based on market conditions, which assets are dropped, timing of dropdowns, timing of Paline Pipeline 7,000 bpd capacity expansion, actual performance of the assets and Delek Logistics in the future. 2) Based on 7x multiple. Assumed for illustrative purposes. Will vary based on market conditions and valuations at the time of the dropdown of each asset. 3) Please see page 35 for a reconciliation of EBITDA. Strong EBITDA Growth Profile Supporting Distribution Growth (1) $108 $12 $8 $34 $32 $194 $- $50.0 $100.0 $150.0 $200.0 $250.0 LTM DKL EBITDA 9/30/2017 Asphalt Drop down Inventory Annualized EBITDA - Paline expansion Big Spring Drop Down Inventory Krotz Springs Drop Down Inventory Total EBITDA Potential • Drop downs, excluding Krotz Springs, could create significant cash flow to Delek • $42-$50m EBITDA equates to ~$300-350m cash proceeds to DK (2) • Provides visibility for continued DKL LP double digit distribution growth • Significant GP benefits Potential Dropdown Items from Alon Acquisition Estimated EBITDA ($ million / year) Asphalt Terminals $11-13 Big Spring Asphalt Terminal $9-11 Big Spring assets $8-10 Big Spring Wholesale Marketing $14-16 Total Excluding Krotz Springs $42-50 Krotz Springs assets $30-34 Total $72-84 (3) ($ in millions) Note: based on DKL LTM EBITDA + potential dropdowns + Paline expansion Potential Timing 4Q17 1H18 2019 1Q18


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