Delek Us Holdings, Inc. · NYSE:DK
Delek Us — Investor Presentation (November 2023)
15 slides from Delek Us's investor presentation, Nov 28, 2023
Slide 1: Investor Presentation November 2023
Investor Presentation November 2023 Exhibit 99.1
Slide 2: Forward Looking Statement
Delek Tech 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”,
Slide 3: Delek US Holdings: Unlocking Value for Shareholders and Unitholders
Delek Tech 3 Delek US Holdings Unlocking Value for Shareholders and Unitholders Financial Strength and Flexibility Integrated Downstream Energy Company (1) FactSet - 9/30/2023 - 13F and Pricing Information (2) Multiples based on sell-side research (Raymond James, Piper Sandler, ScotiaBank and Wells
Slide 4: Accomplishments and Strategic Initiatives
Accomplishments Operational Excellence Safety and reliability • 2023 best safety yr; 3Q23 record total throughput, successful Tyler turnaround Streamline processes • Standardizing structure and processes throughout operations Financial Strength and Shareholder Return Portfolio performance • 3Q23 Rec
Slide 5: Integrated Company with Asset Diversity and Scale
Delek Tech 5 Integrated Company with Asset Diversity and Scale Source 207,000 bpd from Permian Basin • Growing gathering system • Wink to Webster JV Crude Oil Pipeline RIO Refinery Crude Throughput Capacity (BPD) Nelson Complexity Tyler 75,000 8.7 El Dorado 80,000 10.2 Big Spring 73,000 10.5 Krotz S
Slide 6: Adjusted EBITDA Results by Segment
Delek US Adjusted EBITDA - 3Q YTD 2023 vs 3Q YTD 2022 ($MM) 6 3Q23 *YTD Adjusted EBITDA Results by Segment Refining Logistics Retail Corporate $ 716.8 $ 278.8 $ 37.6 $ (144.1) $960.0 $(141.2) $54.1 $1.3 $14.9 $889.1 YTD* as of September, 30 2022 Refining Logistics Retail Corporate YTD* as of Septemb
Slide 7: Cash Flows - 3Q YTD 2023
Delek US Cash Flows - 3Q YTD 2023 ($MM) 7 $841.3 $922.8 $(338.6) $(523.8) $901.7 12/31/2022 Cash Balance* Operating Activities Investing Activities Financing Activities 9/30/2023 YTD Cash Balance* *YTD = Year-to-Date
Slide 8: Capital Expenditures
Capital Expenditures $'s in Millions 2023 Forecast Capital Expenditures $380 - 390 Estimated Proceeds* 20 Net Capital Expenditures $360 - 370 Capital Expenditure Allocation 4% 73% 23% 9% 70% 21% Regulatory Sustaining Growth 3Q23 YTD 2023 Forecast *Insurance proceeds and growth capex partially funded
Slide 9: Net Debt
Net Debt $'s in Millions Sept 30, 2023 Jun 30, 2023 Dec 31, 2022 Consolidated long-term debt - current portion $ 29.5 $ 49.5 $ 74.5 Consolidated long-term debt - non-current portion $ 2,608.5 $ 2,761.4 $ 2,979.2 Consolidated total long-term debt $ 2,638.0 $ 2,810.9 $ 3,053.7 Less: Cash and cash equi
Slide 10: Refining System with Crude Slate Optionality
Delek Tech 10 Refining DK Refining System Tyler El Dorado Big Spring Krotz Springs PADD 3 Refining System with Crude Slate Optionality Crude Slate % *as of September, 30 2023 73.3% 4.0% 4.1% 18.6% WTI Crude Oil Gulf Coast Sweet Crude Local Arkansas Crude Oil Other 78.1% 21.9% WTI Crude Oil East Texa
Slide 11: Logistics
11 Logistics Primarily through 78.7% owned MLP, Delek Logistics Partners, LP (DKL) Expansive gathering business ~1,970 miles of pipeline ~10.8MMB active shell capacity ~200 MBPD water disposal ~88 MMCFD gas processing capacity 10 light product distribution terminals Diversifies portfolio of assets i
Slide 12: Retail
12 Retail ~80% integration with existing downstream operations offering synergies and competitive advantage Operate 250 C-stores in West Texas and New Mexico 526 thousand average retail gallons sold through Sept 30, 2023 Implement interior rebranding/ re- imaging *YTD = Year-to-Date
Slide 13: Environmental, Social, and Governance (ESG)
Environmental, Social, and Governance (ESG) Third Annual Sustainability Report to be Published December 2023 13 (1) THE USE BY THE DELEK COMPANIES OF ANY MSCI ESG RESEARCH LLC OR ITS AFFILIATES (“MSCI”) DATA, AND THE USE OF MSCI LOGOS, TRADEMARKS, SERVICE MARKS OR INDEX NAMES HEREIN, DO NOT CONSTITU
Slide 14: Fourth Quarter 2023 Forecast
Fourth Quarter 2023 Forecast $'s in Millions Low High Operating Expenses $210 $220 General and Administrative Expenses $65 $70 Depreciation and Amortization $90 $95 Net Interest Expense $80 $85 Barrels per day (bpd) Low High Total Crude Throughput 284,000 302,000 Total Throughput 292,000 305,000 Tot
Slide 15: Reconciliation of Segment EBITDA Attributable to Delek to Adjusted Segment EBITDA
Delek Tech 15 Reconciliation of Segment EBITDA Attributable to Delek to Adjusted Segment EBITDA Reconciliation of Segment EBITDA Attributable to Delek to Adjusted Segment EBITDA Nine Months Ended September 30, 2023 $ in millions (unaudited) Refining Logistics Retail Corporate, Other and Eliminations
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