Delek Logistics Partners, L.p. · NYSE:DKL

Delek Logistics Partners, L.p — Investor Presentation (October 2023)

15 slides from Delek Logistics Partners, L.p's investor presentation, Oct 6, 2023

  1. Slide 1: Investor Presentation Delek Logistics Partners, LP October 2023

    Investor Presentation Delek Logistics Partners, LP October 2023 Exhibit 99.1

  2. Slide 2: Forward Looking Statement

    2 Forward Looking Statement 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”, respective

  3. Slide 3: Organizational Structure

    3 Organizational Structure 21.3% interest (9.3 million Common limited partner units)(1) 100% Delek Logistics Partners, LP NYSE: DKL (the Partnership) Public Unitholders Operating Subsidiaries 78.7% interest (34.3 million Common limited partner units)(1) Delek Logistics GP, LLC (the General Partner)

  4. Slide 4: Gathering & Processing, Marketing & Terminalling, Storage & Transportation, Pipeline Joint Ventures

    4 Gathering & Processing Marketing & Terminalling Storage & Transportation Pipeline Joint Ventures • ~200-mile Gathering System in the Midland Basin • ~805 miles(1) of crude and product transportation pipelines • ~485 miles of pipelines in Delaware Gathering Business • Wholesale and Marketing busine

  5. Slide 5: Investment Overview

    Overview (NYSE: DKL) 5 Investment Overview • Current distribution: $1.035/LP unit qtr; $4.140 /LP unit annualized (1); ~10% current yield (2) • Delivered 5% distribution CAGR in 2022 • MVC’s underpin ~79% of gross margins, providing stability to cash flows Strategic Priorities Balance Sheet 2Q23 Hig

  6. Slide 6: Delek Logistics Partners EBITDA 2Q23 vs 1Q23

    6 $93.2 $(2.8) $6.0 $1.6 $1.0 $(6.2) $92.8 1Q23 EBITDA Gathering and Processing Wholesale Marketing and Terminalling Storage and Transportation Investments in Pipeline Joint Ventures Corporate 2Q23 EBITDA Delek Logistics Partners EBITDA 2Q23 vs 1Q23 ($mm) 2Q23 EBITDA Results by Segment Gathering and

  7. Slide 7: Solid Net Income and EBITDA Performance; DCF Supports Distribution Growth

    (1)Solid Net Income and EBITDA performance DCF Supports Distribution Growth Distributable Cash Flow Coverage Ratio Financial Flexibility and Growing Distributable Cash Flow $' s in M ill io ns $90.2 $96.8 $159.3 $164.8 $159.1 $156.7 $164.0 $178.9 $245.3 $265.1 $311.9 $367.5 Net Income EBITDA 2018 20

  8. Slide 8: Optimizing the Balance Sheet

    (1) Optimizing the Balance Sheet 4.7 4.35 4.89 4.78 4.66 2Q22 3Q22 4Q22 1Q23 2Q23 Leverage Ratio Debt Maturity Profile Debt Balances 8 Leverage ratio based on last 12 months EBITDA as defined by credit facility covenants & disclosed in the earnings release. Debt Maturity Profile and Debt Balances as

  9. Slide 9: Appendix

    Appendix

  10. Slide 10: 79% of 2Q23 Basic Gross Margin from Minimum Volume Commitments

    79% of 2Q23 Basic Gross Margin from Minimum Volume Commitments (MVCs) Duration of Contracts as of 2Q23 Multi-Year MVC Contracts Contract Highlights • The Lion/SALA Gathering System is supported by a long-term contract that includes three take-or-pay commitments ◦ Initial term of 5 years, maximum ter

  11. Slide 11: Diversifying Cash Flows via Third-Party Revenues

    11 Diversifying Cash Flows via Third-Party Revenues 2Q22 - Gathering & Processing Revenue 30% 70% Third-Party Affiliate 2Q23 - Gathering & Processing Revenue 47% 53% Third-Party Affiliate

  12. Slide 12: DKL: Income Statement and Non-GAAP EBITDA Reconciliation

    DKL: Income Statement and Non-GAAP EBITDA Reconciliation Reconciliation of net income to EBITDA (in thousands) Three Months Ended June 30, Six Months Ended June 30, Three Months Ended December 31, Three Months Ended September 30, 2023 2022 2023 2022 2022 2022 Net income $ 31,896 $ 32,164 $ 69,263 $

  13. Slide 13: DKL: Segment EBITDA Reconciliation

    DKL: Segment EBITDA Reconciliation $'s In Thousands Three Months Ended June 30, 2023 Gathering and Processing Wholesale Marketing and Terminalling Storage and Transportation Investments in Pipeline Joint Ventures Corporate and Other Consolidated Net revenues: Affiliate $ 49,182 $ 52,076 $ 31,735 $ —

  14. Slide 14: DKL: Reconciliation of Distributable Cash Flow

    14 DKL: Reconciliation of Distributable Cash Flow Distributable Coverage Ratio Calculation (In thousands) Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Limited partners' distribution on common units $ 45,112 $ 42,832 $ 89,776 $ 85,436 Distributions to partners of Delek Lo

  15. Slide 15: Distributable cash flow coverage ratio footnotes

    15 (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 adjusted to exclude transaction costs associated with the 3 Bear Acquisition. (3) Distributable cash flow coverage ratio,

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