Delek Logistics Partners, L.p. · NYSE:DKL
Delek Logistics Partners, L.p — Investor Presentation (April 2025)
23 slides from Delek Logistics Partners, L.p's investor presentation, Apr 2, 2025
Slide 1: Investor Update April 2025
Investor Update April 2025 NYSE: DKL Exhibit 99.11
Slide 2: Forward Looking Statements
Forward Looking Statements: Delek US Holdings, Inc. (“Delek US”) and Delek Logistics Partners, LP (“Delek Logistics”; and collectively with Delek US, “we” or “our”) are traded on the New York Stock Exchange in the United States under the symbols “DK” and ”DKL”, respectively. These slides and any acc
Slide 3: Full-Suite Midstream Services Provider in the Permian Basin
Full-Suite Midstream Services Provider in the Permian Basin • Full-suite midstream services provider for natural gas, crude and water in the Permian Basin • Leading the charge to enable increased sour gas production in the Delaware Basin through Acid Gas Injection capabilities 3
Slide 4: DKL Strategy: A Commitment to Excellence
DKL Strategy: A Commitment to Excellence • Full-service safe and reliable provider of Crude, Natural Gas, and Water midstream service in the Permian Basin • Prudent management of liquidity and leverage to fund extremely attractive growth opportunities Operational Excellence Continuous Optimization &
Slide 5: Value Proposition: Growth, Returns and Financial Discipline
• DKL provides one of the best combinations of cash flow growth, distribution growth and yield in the AMZI index • DKL continues to increase its third-party cash flows to become a strong independent midstream company • DKL has increased its distribution 48 quarters in a row and currently has the hig
Slide 6: Natural Gas Platform
Natural Gas Platform
Slide 7: Uniquely Positioned to take Advantage of Delaware Natural Gas Production Growth
7 Uniquely Positioned to take Advantage of Delaware Natural Gas Production Growth • Delaware Basin is unmatched in rock quality, remaining inventory and well productivity • According to industry estimates in Lea County alone 7500 well locations remain across six geological production benches • The r
Slide 8: Delek Delaware Gathering (DDG) Natural Gas Opportunity
Core Inventory in southern Lea largely drilled up Significant remaining inventory on DDG system Active permitting northeast and southwest of DDG driving future growth Delek Delaware Gathering (DDG) Natural Gas Opportunity 8 • Central Location: • Most of the Southern Lea County core acreage has been
Slide 9: DDG Libby Complex Gas Plant Expansion
DDG Libby Complex Gas Plant Expansion DKL / H2O Midstream – Combined Midland Asset Map • Strategic Rationale: ✓ Supports growth strategy of providing a full midstream service solution to existing and new 3rd party customers ✓ Supports our strategy to grow with our customers who have significant inve
Slide 10: Crude Oil Operations
Crude Oil Operations
Slide 11: Delek Midland & Delaware Crude Gathering Footprint
11 Delek Midland & Delaware Crude Gathering Footprint Delek Midland Gathering Delek Delaware Gathering Optimize, grow, and maximize the barrels in our systems Midland Gathering System Overview: • Tactically positioned to support upstream production growth in Howard, Borden, Martin, and Midland count
Slide 12: Midland/DDG Growth & Combined Crude/Water Offering
12 Midland/DDG Growth & Combined Crude/Water Offering Leverage Crude Relationship • Utilize existing crude relationship with producers to offer water services in the Midland and Delaware Basin Leverage Gravity/H2O relationship • Leverage existing separate relationships between Midland Gathering & Gr
Slide 13: Joint Venture Assets Supporting DKL's Crude Value Chain
Joint Venture Assets Supporting DKL’s Crude Value Chain 13 RIO Pipeline 33% ownership interest 109-mile crude oil pipeline with 145,000 bpd capacity Enhances connectivity between Delaware Basin production and key takeaway systems Caddo Pipeline 50% ownership interest 80-mile crude oil pipeline with
Slide 14: Water Business
Water Business
Slide 15: Strategic Acquisitions in the Permian Basin
Strategic Acquisitions in the Permian Basin Gravity Water Acquisition • Delek Logistics Partners LP acquired Gravity Water Holdings LLC, on January 2, 2025, a portfolio company of Clearlake Capital Group, L.P. • Funding Consideration: • $209.3 million in cash at closing • 2,175,209 DKL common units
Slide 16: Gravity/H2O Asset Maps
DKL Big Spring Refinery DKL Crude Tank Farm DKL Crude Pipeline DKL Product Pipeline DKL Dedicated Acreage H2O SWD H2O Water Pipeline H2O Dedicated Acreage DKL / H2O Water Midstream – Combined Permian Asset Map Gravity/H2O Asset Maps 16 DKL / Gravity Water Holdings – Combined Permian Asset Map Gravit
Slide 17: Financial Overview
Financial Overview
Slide 18: Financial Strength & Consistent Progression
18 Financial Strength & Consistent Progression (1) Midpoint of the guided range (2) Preliminary estimate $3.785 $3.975 $4.160 $4.365 2021 2022 2023 2024 Distribution per unit 1.31x 1.32x 1.37x 1.23x >1.30x(2) 2021 2022 2023 2024 2025E Adjusted Distribution Coverage $265 $312 $385 $418 $500(1)CAGR: 1
Slide 19: Expectations for 2025
19 Expectations for 2025 $'s in Millions Low Mid High Adjusted EBITDA $480 $500 $520 Capital Expenditures $220 $235 $250 2025 Outlook Coverage ratio of ~1.3x by year end Expect to continue growing distributions in 2025
Slide 20: Appendix
welel<c APPENDIX
Slide 21: Annual EBITDA and Adjusted EBITDA Reconciliation
21 Annual EBITDA and Adjusted EBITDA Reconciliation Delek Logistics Partners, LP Reconciliation of Amounts Reported Under U.S GAAP (Unaudited) (In thousands) Year Ended December 31, 2021 2022 2023 2024 Reconciliation of Net Income to EBITDA: Net Income 164,822$ 159,052$ 126,236$ 142,685$ Add: Income
Slide 22: Reconciliation of Distributable Cash Flow
22 Reconciliation of Distributable Cash Flow (1)Distributable cash flow coverage ratio is calculated by dividing distributable cash flow by distributions to be paid in each respective period (2)Distributable cash flow coverage ratio, as adjusted is calculated by dividing distributable cash flow, as
Slide 23: Wink to Webster Acquisition
23 Wink to Webster Acquisition Strategic Asset Acquisition • August 5, 2024, DKL acquired Delek US’15.6% interest in the Wink to Webster crude pipeline system • Total consideration: $83.9M in cash, forgiveness of a $60.0M receivable from Delek US', and 2.3M common units of DKL Asset Overview • ~650-
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