Delek US Holdings Business Summary

Delek US Holdings, Inc. (DK) is a diversified downstream energy company that generates revenue primarily through its Refining and Logistics business segments. The Refining segment processes crude oil and other feedstocks into transportation fuels, asphalt, and biodiesel across four refineries in Texas, Arkansas, and Louisiana, with a combined nameplate capacity of approximately 302,000 barrels per day. The Logistics segment, operated largely through its majority-owned subsidiary Delek Logistics Partners, LP (DKL), provides fee-based midstream services including crude oil and refined product transportation, storage, and terminaling. Following the 2024 divestiture of its retail operations to FEMSA, Delek has pivoted toward an "Enterprise Optimization Plan" to maximize cash flow and unlock "sum-of-the-parts" value. The company competes directly with independent refiners such as HF Sinclair, PBF Energy, CVR Energy, and Marathon Petroleum, positioning itself as a mid-cap player with a strategic geographic advantage due to its proximity to Permian Basin crude production. The leadership team is led by President and CEO Avigal Soreq, who assumed the role in June 2022 after serving as CEO of El Al Airlines and holding various executive positions within Delek for over a decade. The executive suite includes Mark Hobbs, who was appointed EVP and CFO in March 2025 following a career as a Managing Director at Citigroup, and Joseph Israel, who joined as EVP and President of Refining and Renewables in January 2025 after serving as CEO of Par Petroleum. Digital and operational technology initiatives are directed by Ido Biger, EVP and Chief Technology & Data Officer, an expert in data-driven transformation from the aviation and telecom sectors. The company was significantly shaped by Ezra Uzi Yemin, who served as CEO from 2004 until 2022 and currently acts as Non-Executive Chairman. Delek maintains a strong institutional investor base, including Vanguard and Ion Asset Management, with board oversight led by Lead Independent Director William J. Finnerty.