Delek Logistics Partners, LP (DKL) Prices 3.12M Unit Offering at $38.50/unit

Delek Logistics Partners, LP (NYSE: DKL) announced today the pricing of its underwritten public offering of 3,116,884 common units representing limited partner interests in Delek Logistics at $38.50 per unit. The offering is being made pursuant to an effective shelf registration statement previously filed with the Securities and Exchange Commission (the "SEC"). A preliminary prospectus supplement relating to the offering has also been filed with the SEC. Delek Logistics has granted the underwriters a 30-day option to purchase up to 467,532 additional common units. Delek Logistics intends to use the net proceeds from the offering (including any net proceeds from the underwriters' exercise of their option to purchase additional common units) to repay outstanding borrowings under its revolving credit agreement.

None of the common units offered in the offering will be purchased by Delek US Holdings, Inc. ("Delek Holdings"). As a result, Delek Holdings' ownership of the outstanding Delek Logistics common units will decline from 78.7% prior to the offering to approximately 73.4% after the offering.

The offering is expected to settle and close on March 12, 2024, subject to the satisfaction of customary closing conditions.

Truist Securities, BofA Securities and Raymond James are acting as joint book-running managers for the offering. A copy of the preliminary prospectus supplement and accompanying base prospectus relating to the offering may be obtained from any of the underwriters, including Truist Securities at 3333 Peachtree Road NE, 9th Floor, Atlanta, Georgia 30326, Attention Equity Capital Markets or by email at [email protected]; BofA Securities, NC1-022-02-25 at 201 North Tryon Street, Charlotte, North Carolina 28255, Attention: Prospectus Department or by email at [email protected]; and Raymond James at 880 Carillon Parkway, St. Petersburg, Florida 33716 or by email at [email protected]. You may also obtain these documents for free when they are available by visiting the SEC's website at www.sec.gov.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The offering may be made only by means of a prospectus and related prospectus supplement meeting the requirements of Section 10 of the Securities Act of 1933, as amended (the "Securities Act").

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