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425
DELEK US HOLDINGS, INC. filed this Form 425 on 12/04/2017
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Differential is additive to crack spread trends in the current market environment WTI-Brent Crude Oil Price Differential Trends Improving 4 1) Differential source: Argus – November 30, 2017 WTI vs Brent, $/bbl (1)  WTI versus Brent has widened  Began in early 2017  Primary drivers of this change include:  Global market improvement - OPEC cuts  Current WTI price supports production in U.S.  Increased light production from Shale plays  Transportation cost to clear in the export market  Increased production of light domestic crude oil  Permian Basin production has continued to grow  Light barrels will need to clear the market -$30 -$25 -$20 -$15 -$10 -$5 $0 $5 $10 Ja n -0 7 A u g- 0 7 M ar -0 8 Oct -0 8 M ay -0 9 D e c- 0 9 Ju l- 1 0 Fe b -1 1 Se p -1 1 A p r- 1 2 N o v- 1 2 Ju n -1 3 Ja n -1 4 A u g- 1 4 M ar -1 5 Oct -1 5 M ay -1 6 D e c- 1 6 Ju l- 1 7 $ p er b b l.


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