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425
DELEK US HOLDINGS, INC. filed this Form 425 on 12/04/2017
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Financial Strength and Flexibility to Support Initiatives At September 30, 2017 approximately $832 million of cash 29 • Focused on growing business, while maintaining financial flexibility • Sold retail assets in Nov. 2016 for $535 million • Closed Alon transaction on July 1, 2017 • At September 30 cash balance of $832 million and net debt of $596 million • Net debt of $200 million excluding DKL related cash/debt • Current balance sheet should have financial flexibility to support: • Opportunity for cost of capital benefits from combination estimated to be approximately $20 million • Capital allocation program focused on investment, return to shareholders and growth over cycle 1) Amounts prior to 4Q16 have been adjusted to remove cash associated the retail operations that were sold in November 2016. 2) Based on company filings as of 9/30/17. Capitalization as of September 30, 2017 (2) Cash Balance ($MM) (1) $40 $219 $590 $383 $430 $287 $689 $832 2010 2011 2012 2013 2014 2015 2016 3Q17 ($ in millions) Current Debt $351.0 Long-Term Debt 1,076.8 Total Debt $1,427.8 Cash ($831.7) Net Debt Delek US Consolidated $596.1 Delek Logistics Total Debt $401.3 Cash ($5.3) Net Debt Delek Logistics $396.0 Net Debt Delek US excluding DKL $200.1


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