Summary Observations Regarding CVR's Campaign

Retail Network Presents Growth Opportunities CVR Proposal: Sell Retail Network We have a proven track record of prudent strategic decisions with respect to retail assets ✓ Our current retail network has potential to deliver $100 million in Adjusted Retail Segment Earnings with contributions from new stores generated at 4-5x capex / EBITDA multiple Sold MAPCO at 12.7x (1) in 2016 Adjusted Retail Segment Earnings ($ in millions) $47 $29 ~$100 ✓ We regularly review alternatives for this business 2016A 2020A 2025E Growing and enhancing the store network will increase the value of the business Delek (1) Based on midpoint of pre-disposition EBITDA guidance provided for MAPCO Express retail assets US 27

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