Delek US : 4Q23 Earnings Conference Call

Exhibit 99.2

Fourth Quarter 2023

Earnings Conference Call

February 27, 2024

Disclaimers

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", respectively. These slides and any accompanying oral or written presentations contain forward-looking statements within the meaning of federal securities laws that are based upon current expectations and involve a number of risks and uncertainties. Statements concerning current estimates, expectations and projections about future results, performance, prospects, opportunities, plans, actions and events and other statements, concerns, or matters that are not historical facts are "forward-looking statements," as that term is defined under the federal securities laws. Words such as "may," "will," "should," "could," "would," "predicts," "potential," "continue," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "appears," "projects" and similar expressions, as well as statements in future tense, identify forward-looking statements.

These forward-looking statements include, but are not limited to, the statements regarding the following: financial and operating guidance for future and uncompleted financial periods; financial strength and flexibility; potential for and projections of growth; return of cash to shareholders, stock repurchases and the payment of dividends, including the amount and timing thereof; cost reductions; crude oil throughput; crude oil market trends, including production, quality, pricing, demand, imports, exports and transportation costs; projected capital expenditures; the results of our refinery improvement plan; the performance of our joint venture investments, and the benefits, flexibility, returns and EBITDA therefrom; the potential for, and estimates of cost savings and other benefits from, acquisitions, divestitures, dropdowns and financing activities; long-term value creation from capital allocation; targeted internal rates of return on capital expenditures; execution of strategic initiatives and the benefits therefrom, including cash flow stability from business model transition and approach to renewable diesel; and access to crude oil and the benefits therefrom.

Investors are cautioned that the following important factors, among others, may affect these forward-looking statements: uncertainty related to timing and amount of value returned to shareholders; risks and uncertainties with respect to the quantities and costs of crude oil we are able to obtain and the price of the refined petroleum products we ultimately sell, including uncertainties regarding future decisions by OPEC regarding production and pricing disputes between OPEC members and Russia; risks and uncertainties related to the integration by Delek Logistics of the Delaware Gathering business following its acquisition; Delek US' ability to realize cost reductions; risks related to Delek US' exposure to Permian Basin crude oil, such as supply, gathering, pricing, production and transportation capacity; gains and losses from derivative instruments; management's ability to execute its strategy of growth through acquisitions and the transactional risks associated with acquisitions and dispositions; acquired assets may suffer a diminishment in fair value as a result of which we may need to record a write-down or impairment in carrying value of the asset; changes in the scope, costs, and/or timing of capital and maintenance projects; the ability of the Wink to Webster joint venture to construct the long-haul pipeline; the ability of the Red River joint venture to expand the Red River pipeline; the possibility of litigation challenging renewable fuel standard waivers; the ability to grow the Midland Gathering System; operating hazards inherent in transporting, storing and processing crude oil and intermediate and finished petroleum products; our competitive position and the effects of competition; the projected growth of the industries in which we operate; general economic and business conditions affecting the geographic areas in which we operate; and other risks contained in Delek US' and Delek Logistics' filings with the United States Securities and Exchange Commission.

Forward-looking statements should not be read as a guarantee of future performance or results, and will not be accurate indications of the times at, or by which such performance or results will be achieved. Forward-looking information is based on information available at the time and/or management's good faith belief with respect to future events, and is subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the statements. Neither Delek US nor Delek Logistics undertakes any obligation to update or revise any such forward-looking statements to reflect events or circumstances that occur, or which Delek US or Delek Logistics becomes aware of, after the date hereof, except as required by applicable law or regulation.

2

Overview 2023

Operational Excellence

Solid operational performance across all businesses

Best safety year yet

Financial Strength and Shareholder Return

$146 million returned to shareholders $454 million debt reduction YTD

Strategic Initiatives

Executing on $100 million run rate rate cost reduction Advanced 'sum of the parts' value unlock directive

• Big Spring Refinery, Big Spring, TX

Strategic Objectives

2024 Priorities

Operational

Excellence

Run safely, reliably and in

an environmentally responsible manner

Complete successful

turnaround of Krotz Springs

Refinery

Streamline structures and

processes

Financial Strength and

Shareholder Return

Execute a prudent and

disciplined capital allocation

approach

Deliver sustainable and competitive shareholder returns

Optimize the balance sheet

and reduce debt

Strategic

Initiatives

Improve cost and process

efficiencies to reach

run-rate goal

Unlock 'Sum of the Parts'

value

Evaluate opportunities in

energy transition

Well positioned to capture opportunities

4

Total Refining Throughput

4Q vs 3Q 2023

MBPD

305.9	3.3	3.4	0.5	306.4
			-6.7

3Q23

Tyler

El Dorado

Big Spring

Krotz Springs

4Q23

4Q23 Production Margin per bbl.

Tyler	El Dorado	Big Spring	Krotz Springs
$11.54	$4.94	$6.05	$4.93

5	*Throughputs are rounded

Refining Improvement Plan

Path to refinery optimization

Tyler Refinery Commercially optimized with reliable operations

El Dorado Refinery Opportunities to advance commercial optionality

Big Spring Refinery Niche location, executing on reliability improvements

Krotz Refinery Opportunities to advance commercial optionality

Current State

Future State

Past State

Sustainable operational reliability	Sustainable operational reliability
Commercial optimization opportunities	Commercial optimization realized
El Dorado	Krotz Springs	Tyler
ExcellenceOperational		Big Spring
Inconsistent operational reliability	Inconsistent operational reliability
Commercial optimization opportunities	Commercial optimization realized

Commercial Optimization

6

2023 Accomplishments & 2024 - 2025 Commitments

2023

Tyler Refinery	Targeted		Achieved
Major turnaround	$18 million^		$18.5 million^
Committed EBITDA uplift from upgrades

2024 - 2025

Big Spring Refinery

Reliability improvement

Improve throughput utilization by 5MBD Increase capture rate to ~70%*

Target

~$100 million*

65% in '24

35% in '25

Company Wide

Cost reduction and process improvement efforts $100 million Goal to reduce cost over 2 year period

60% achieved

20% in '24

20% in '25

Krotz Springs Refinery

Major turnaround, FCC & crude unit upgrades	~$30 million*
Improve rate and yield flexibility with crude unit piping
Add yield and rate flexibility by upgrading FCC reactor
Optimize reformer catalyst activity
Improve energy efficiency

El Dorado Refinery

Commercial optimization	~$10 million*
Expand crude oil sourcing
Upgrade to pipeline sales
Expanding asphalt quality netback

^ Based on Gulf Coast 5-3-2 crack of $19.36 per bbl.

• * Performance and market conditions driven, based on a mid-cycle basis.

Financial Summary

Financial Highlights

$ in millions (except per share)
	4Q23	2023
Net (Loss) Income	$(164.9)	$19.8
Adjusted Net (Loss) Income	$(93.2)	$196.6
Adjusted Net (Loss) Income per share	$(1.46)	$2.98
Adjusted EBITDA	$60.6	$949.7
Cash from operations	$90.8	$1,013.6

8

2023 Capital Allocation
$ in millions
Capital Program		$372.1
DK Dividend Distributions		$60.3
Share Repurchase Program		$85.4

Adjusted EBITDA

4Q vs 3Q 2023 ($MM)

$345.1

		$2.9		$15.4	$60.6
	$(295.9)		$(6.9)
3Q23	Refining	Logistics	Retail	Corporate	4Q23

4Q23 Adjusted EBITDA Results by Segment

Refining	Logistics	Retail	Corporate
$(10.4)	$99.4	$9.3	$(37.7)

9	*$MM's are rounded

Consolidated Cash Flow

4Q vs 3Q 2023 ($MM)

$90.8

$901.7

$(69.4)	$822.2
	$(100.9)

9/30/2023	Operating Activities	Investing Activities	Financing Activities	12/31/2023
Cash Balance*				Cash Balance*

10	*includes cash and cash equivalents