Our Strategy for Growth and Value Creation
Delivering Value for Shareholders
Integrated and Synergistic
Portfolio with Increasingly
Stable Cash Flows
25%
2019A
Adj. Segment
Earnings(1)
O
75%
Projected growth from midstream and
retail (excludes upside from new stores)
Refining
Midstream & Retail
Efficient Operations and
Continuing Cost Reductions
Commitment to Peer-Leading
Return of Capital
Strong Financial Position (4)
(1)
Delek
(2)
US
(3)
(4)
5-Year Average Cost Per Barrel
$4.70
$4.10
Operates at
~13% below
peers
DK
Peer Average (2)
39%
Target 2022
Adj. Segment
Earnings(1)
O
61%
~$225 Million
Reduction in total annual costs
from 2019A to 2021E (3)
~$900 Million
Capital returned to shareholders through dividends
and share buybacks in the last five years
$784
38%
Million Cash
Net Debt to Net Capitalization
See definition in Non-GAAP Disclosures discussion on page 2 and reconciliation to GAAP measure in the Appendix
Based on Scotia Research as of March 15, 2021; peer set includes: CVR Energy, Inc., HollyFrontier Corporation, PBF Energy Inc., Phillips 66 and Valero Energy Corporation
Assumes reduced operations of Krotz Springs and excludes Q1 2021 weather-related impacts
As of 12/31/2020; excludes DKL
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