Delek Logistics Partners, LP

Consolidated Results of Operations — Comparison of the three and nine months ended September 30, 2026, compared to the three and nine months ended September 30, 2025

Net revenues increased by $111.2 million, or 42.5%, in the third quarter of 2026 compared to the third quarter of 2025, primarily driven by the following:

•increased revenue of $39.5 million in our West Texas marketing operations primarily driven by an increase in average sales prices of gasoline and diesel partially offset by a decrease in volumes sold, and an increase in RINs revenue:

◦the average sales prices of gasoline sold increased by $1.00 per gallon and the average prices of diesel sold increased by $1.88 per gallon;

◦the average volumes of gasoline and diesel sold decreased by 3.9 million gallons and 1.1 million gallons, respectively; and

◦RINs revenue increased by $1.7 million primarily due to increased RINs prices.

•increased revenue of $71.7 million in our gathering and processing segment primarily due to increased sales in our Delaware Gathering operations and favorable prices; and

•partially offsetting these increases was a decrease of $6.9 million associated with the termination ofa marketing agreement with Delek Holdings, under which we marketed 100% of the refined products output of the Tyler Refinery (the "East Texas Marketing Agreement").

Net revenues increased by $297.1 million, or 39.2%, in the nine months ended September 30, 2026, compared to the nine months ended September 30, 2025. The increase was primarily driven by the following:

•increased revenue of $124.2 million in our West Texas marketing operations primarily driven by an increase in average sales prices, a net increase in volumes sold and an increase in RINs revenue:

◦the average sales prices per gallon of gasoline and diesel sold increased by $0.67 and $1.25 per gallon, respectively;

◦the average volumes of gasoline sold increased by 5.7 million gallons, while the average volumes of diesel sold decreased by 3.1 million gallons; and

◦RINs revenue increased by $7.4 million primarily due to increased RINs prices.

•increased revenue of $185.1 million in our gathe ring and processing segment primarily associated with increased sales in our Delaware Gathering operations, favorable prices and the Delek Permian Gathering purchasing and blending activities which was transferred from Delek Holdings on May 1, 2025 (the "DPG Dropdown"); and

•partially offsetting these increases was a decreaseof $20.3 million associated with the termination of the East Texas Marketing Agreement.

Cost of materials and other increased by $97.8 million, or 75.4%, in the third quarter of 2026 compared to the third quarter of 2025, primarily driven by the following:

•increase of $35.5 million in our West Texas marketing operations primarily driven by an increase in average cost per gallon, partially offset by a decrease in volumes sold; and

•increase of $60.8 million in our gathering and processing segment primarily driven by increased costs associated with our Delaware Gathering operations.

33 |

Cost of materials and other increased by $256.9 million, or 67.9%, in the nine months ended September 30, 2026, compared to the nine months ended September 30, 2025, primarily driven by the following:

•increase of $118.1 million in our West Texas marketing operations primarily driven by an increase in average cost per gallon and volumes sold; and

•increase of $136.9 million in our gathering and processing segment primarily driven by increased costs associated with our Delaware Gathering operations.

Operating expenses increased by $2.9 million, or 6.6%, in the third quarter of 2026 compared to the third quarter of 2025, primarily driven by the following:

•increase of $1.9 million in outside services, primarily related to professional consulting and contract services;

•increase of $1.2 million in other operating expenses primarily associated with our Midland Water Gathering operations;

•increases in maintenance and repairs expenses and employee expenses totaling $1.4 million largely associated with our Delaware Gathering operations;

•increases in lease and rental expenses and supplies expense of $1.6 million; and

•partially offsetting these increases were decreases in variable expenses of $2.4 million primarily associated with our Midland Water Gathering operations and taxes and fees of $1.3 million largely associated with our Delaware Gathering operations.

Operating expenses increased by $14.2 million, or 11.6%, in the nine months ended September 30, 2026, compared to the nine months ended September 30, 2025, primarily driven by the following:

•increase of $15.7 million in outside services, primarily related to professional consulting and contract services;

•increase in employee expenses of $3.8 million, primarily associated with our Delaware Gathering operations;

•increases in supplies expense of $2.3 million and insurance expense of $2.2 million; and

•partially offsetting these increases was a $5.5 million decrease in variable expenses and a $4.5 million decrease in maintenance and repairs costs largely associated with our Midland Water Gathering operations.

General and Administrative Expenses

General and administrative expenses increased by $1.3 million, or 29.5%, in the third quarter of 2026 compared to the third quarter of 2025, primarily driven by an increase in property taxes.

General and administrative expenses decreased by $8.9 million, or 40.0%, in the nine months ended September 30, 2026, compared to the nine months ended September 30, 2025, primarily driven by the following:

•decrease in employee expenses of $4.2 million;

•decrease in outside services of $3.3 million;

•decrease in insurance expense of $3.1 million; and

•partially offsetting these decreases was an increase in the management fee paid to Delek Holdings pursuant to the amended Omnibus Agreement.

34 |

Depreciation and Amortization

Depreciation and amortization increased by $3.7 million, or 10.6%, in the third quarter of 2026 compared to the third quarter of 2025, primarily driven by the following:

•a general increase in our fixed asset base due to capital projects completed.

Depreciation and amortization increased by $22.8 million, or 25.4%, in the nine months ended September 30, 2026, compared to the nine months ended September 30, 2025, primarily driven by the following:

•a general increase in our fixed asset base due to capital projects completed, largely associated with the gas plant expansion; and

•additional equipment under finance leases.

Other operating expense (income), net

Other operating expense, net decreased by $2.6 million, or 87.6%, in the third quarter of 2026 compared to the third quarter of 2025 primarily driven by lower losses on asset disposals.

Other operating expense, net increased by $2.1 million, or 253.3%, in the nine months ended September 30, 2026, compared to the nine months ended September 30, 2025, primarily driven by the following:

•$4.3 million in condemnation proceeds received in the first quarter of 2025; and

•partially offset by lower losses on asset disposals.

Interest Income

Interest income decreased by $3.5 million, or 13.1%, in the third quarter of 2026 compared to the third quarter of 2025, primarily due to the following:

•the termination of income from certain sales type leases associated with the El Dorado rail facility and the Tyler refinery tank assets being sold to Delek Holdings under the Intercompany Agreements; and

•partially offset by the modification of sales type leases associated with the El Dorado tank and terminal assets to be sold to Delek Holdings in 2027.

Interest income increased by $5.2 million, or 7.2%, in the nine months ended September 30, 2026, compared to the nine months ended September 30, 2025, primarily driven by the following:

•the modification of certain sales type leases associated with the Tyler refinery tank and El Dorado tank and terminal assets being sold to Delek Holdings under the Intercompany Agreements; and

•partially offset by the termination of income from sales type lease associated with the El Dorado rail facility assets sold to Delek Holdings on January 2, 2026.

Interest Expense

Interest expense increased by $1.4 million, or 2.9%, in the third quarter of 2026 compared to the third quarter of 2025, primarily driven by the following:

•increase in average borrowings during the period; and

•partially offset by reduced pricing from the amendment of our revolving facility in the first quarter of 2026 and a generally lower interest rate environment leading to reduced borrowing costs.

35 |

Interest expense increased by $40.3 million, or 30.8%, in the nine months ended September 30, 2026, compared to the nine months ended September 30, 2025, primarily driven by the following:

•increase of $23.0 million due to loss on extinguishment of debt related to our new revolving credit facility, the redemption of our 2028 Notes and the partial redemption of our 2029 Notes;

•increase of $25.2 million primarily due to the issuances of the 2033 Notes during the second quarter of 2025 and the 2034 Notes during the second quarter of 2026; and

•partially offset by reduced pricing from the amendment of the revolving facility in the first quarter of 2026 and generally lower interest rates.

Results from Equity Method Investments

Income from equity method investments decreased by $1.3 million, or 5.9%, in the third quarter of 2026 compared to the third quarter of 2025, primarily due to the following:

•decrease of $1.6 million largely from our investment in Red River Pipeline Company LLC ("Red River"); and

•partially offsetting this decrease was an increase of $0.3 million from our investment in Wink to Webster Holdings, LLC ("W2W").

Income from equity method investments increased by $4.1 million, or 9.7%, in the nine months ended September 30, 2026, compared to the nine months ended September 30, 2025, primarily due to the following:

•increase of $7.1 million in income from our investment in W2W; and

•partially offsetting this increase was a decrease of $2.9 million from our investments in other joint ventures.

36 |

Operating Segments

Gathering and Processing Segment

The following tables and discussion present the results of operations and certain operating statistics of the gathering and processing segment for the three and nine months ended September 30, 2026 and 2025:

(1) bpd - average barrels per day.

(2)Mcfd - average thousand cubic feet per day.

(3)Includes freshwater sales of 15,196 bpd and 84,273 bpd for the three and nine months ended September 30, 2026, respectively, and 692 bpd and 9,314 bpd for the three and nine months ended September 30, 2025, respectively.

Comparison of the three and nine months ended September 30, 2026, compared to the three and nine months ended September 30, 2025

Net revenues for the gathering and processing segment increased by $71.7 million, or 54.2%, in the third quarter of 2026 compared to the third quarter of 2025, primarily driven by increased sales in our Delaware Gathering operations and favorable prices.

Net revenues for the gathering and processing segment increased by $185.1 million, or 50.2%, in the nine months ended September 30, 2026, compared to the nine months ended September 30, 2025, primarily driven by increased sales in our Delaware Gathering operations, favorable prices and the DPG Dropdown.

37 |

Cost of materials and other for the gathering and processing segment increased by $60.8 million, or 193.5%, in the third quarter of 2026 compared to the third quarter of 2025, driven primarily by increased costs associated with our Delaware Gathering operations.

Cost of materials and other for the gathering and processing segment increased by $136.9 million, or 176.7%, in the nine months ended September 30, 2026, compared to the nine months ended September 30, 2025, driven primarily by increased costs associated with our Delaware Gathering operations.

Operating expenses for the gathering and processing segment increased by $2.8 million, or 9.2%, in the third quarter of 2026 compared to the third quarter of 2025, primarily driven by the following:

•increase in outside services costs of $3.4 million primarily related to professional consulting and contract services, and an increase in maintenance, lease and other expenses totaling $2.4 million; and

•partially offset by decreases in variable expenses of $2.4 million and taxes and fees of $1.1 million.

Operating expenses for the gathering and processing segment increased by $2.9 million, or 3.1%, in the nine months ended September 30, 2026, compared to the nine months ended September 30, 2025, primarily driven by the following:

•increase in outside services costs of $10.0 million and employee costs of $3.3 million primarily associated with our Delaware Gathering operations; and

•partially offset by a decrease in variable expenses of $5.2 million and maintenance and repairs costs of $4.9 million primarily associated with our Midland Water Gathering operations.

EBITDA

EBITDA increased by $8.0 million, or 11.6%, in the third quarter of 2026 compared to the third quarter of 2025, primarily driven by the DPG Dropdown.

EBITDA increased by $40.2 million, or 19.9%, in the nine months ended September 30, 2026, compared to the nine months ended September 30, 2025, primarily driven by the DPG Dropdown.

38 |

Wholesale Marketing and Terminalling Segment

The following tables and discussion present the results of operations and certain operating statistics of the wholesale marketing and terminalling segment for the three and nine months ended September 30, 2026 and 2025:

(1)East Texas Marketing agreement was terminated on January 1, 2026.

(2)Consists of terminalling throughputs at our Tyler, Big Spring, Big Sandy and Mount Pleasant, Texas terminals, our El Dorado and North Little Rock, Arkansas terminals and our Memphis and Nashville, Tennessee terminals.

Operational comparison of the three and nine months ended September 30, 2026, compared to the three and nine months ended September 30, 2025

Net revenues for the wholesale marketing and terminalling segment increased by $36.4 million, or 34.7%, in the third quarter of 2026 compared to the third quarter of 2025, driven primarily by the following:

•increased revenue of $39.5 million in our West Texas marketing operations primarily driven by an increase in average sales prices of gasoline and diesel partially offset by a decrease in volumes sold, and an increase in RINs revenue:

◦the average sales prices of gasoline sold increased by $1.00 per gallon and the average prices of diesel sold increased by $1.88 per gallon;

◦the average volumes of gasoline and diesel sold decreased by 3.9 million gallons and 1.1 million gallons, respectively; and

◦RINs revenue increased by $1.7 million primarily due to increased RINs prices.

•Partially offsetting this increase was a decrease of $6.9 million associated with the termination of the East Texas Marketing Agreement.

Net revenues for the wholesale marketing and terminalling segment increased by $105.6 million, or 33.4%, in the nine months ended September 30, 2026, compared to the nine months ended September 30, 2025, primarily driven by the following:

•increased revenue of $124.2 million in our West Texas marketing operations primarily driven by an increase in average sales prices, a net increase in volumes sold and an increase in RINs revenue:

◦the average sales prices per gallon of gasoline and diesel sold increased by $0.67 and $1.25 per gallon, respectively;

◦the average volumes of gasoline sold increased by 5.7 million gallons, while the average volumes of diesel sold decreased by 3.1 million gallons; and

◦RINs revenue increased by $7.4 million primarily due to increased RINs prices.

•Partially offsetting this increase was a decrease of $20.3 million associated with the termination of the East Texas Marketing Agreement.

39 |

The following charts show summaries of the average sales prices per gallon of gasoline and diesel and refined products volume impacting our West Texas operations for the three and nine months ended September 30, 2026 and 2025.

Cost of materials and other for the wholesale marketing and terminalling segment increased by $35.4 million, or 41.4%, in the third quarter of 2026 compared to the third quarter of 2025, driven primarily by the following:

•increased costs of materials and other of $35.5 million in our West Texas marketing operations primarily driven by an increase in average cost per gallon of gasoline and diesel sold, partially offset by a decrease in volumes sold:

◦the average cost per gallon of gasoline and diesel sold increased by $0.94 per gallon and $1.81 per gallon, respectively; and

◦the volumes of gasoline and diesel sold decreased by 3.9 million gallons and 1.1 million gallons, respectively.

Cost of materials and other for the wholesale marketing and terminalling segment increased by $117.9 million, or 45.4%, in the nine months ended September 30, 2026, compared to the nine months ended September 30, 2025, primarily driven by the following:

•increased costs of materials and other of $118.1 million in our West Texas marketing operations primarily driven by an increase in average cost per gallon and a net increase in volumes sold:

◦the average cost per gallon of gasoline and diesel sold increased by $0.65 per gallon and $1.29 per gallon, respectively; and

◦the volumes of gasoline sold increased by 5.7 million gallons, while diesel sold decreased by 3.1 million gallons.

40 |

The following chart shows a summary of the average prices per gallon of gasoline and diesel purchased in our West Texas operations for the three and nine months ended September 30, 2026 and 2025. Refer to the Refined Products Volume - Gallons chart above for a summary of volumes impacting our West Texas operations.

Operating expenses for the wholesale marketing and terminalling segment increased by $1.1 million, or 45.6%, in the third quarter of 2026 compared to the third quarter of 2025, driven primarily by an increase in outside service costs attributable to professional services and contract labor.

Operating expenses for the wholesale marketing and terminalling segment increased by $1.5 million, or 20.8%, in the nine months ended September 30, 2026, compared to the nine months ended September 30, 2025, driven primarily by an increase in outside service costs attributable to professional services and contract labor.

EBITDA

EBITDA increased by $2.7 million, or 18.9%, in the third quarter of 2026 compared to the third quarter of 2025, driven primarily by the following:

•an increase in wholesale margins of $5.49 per barrel; and

•partially offset by the termination of the East Texas Marketing Agreement.

EBITDA decreased by $11.1 million, or 24.0%, in the nine months ended September 30, 2026, compared to the nine months ended September 30, 2025, primarily driven by the following:

•the termination of the East Texas Marketing Agreement; and

•partially offset by a $2.00 per barrel increase in wholesale margins.

41 |

Storage and Transportation Segment

The following tables and discussion present the results of operations and certain operating statistics of the storage and transportation segment for the three and nine months ended September 30, 2026 and 2025:

Operational comparison of the three and nine months ended September 30, 2026, compared to the three and nine months ended September 30, 2025

Net revenues for the storage and transportation segment increased by $3.1 million, or 12.7%, in the third quarter of 2026 compared to the third quarter of 2025, primarily due to higher volume in our trucking operations.

Net revenues for the storage and transportation segment increased by $6.4 million, or 8.8%, in the nine months ended September 30, 2026, compared to the nine months ended September 30, 2025, primarily due to higher volume in our trucking operations.

Cost of materials and other for the storage and transportation segment increased by $1.4 million, or 10.6%, in the third quarter of 2026 compared to the third quarter of 2025, primarily driven by increased trucking activity.

Cost of materials and other for the storage and transportation segment increased by $0.3 million, or 0.8%, in the nine months ended September 30, 2026, compared to the nine months ended September 30, 2025.

Operating expenses for the storage and transportation segment decreased by $2.4 million, or 45.4%, in the third quarter of 2026 compared to the third quarter of 2025, primarily driven by a decrease in outside services costs.

Operating expenses for the storage and transportation segment increased by $0.2 million, or 1.3%, in the nine months ended September 30, 2026, compared to the nine months ended September 30, 2025.

EBITDA

EBITDA increased by $4.0 million, or 64.4%, in the third quarter of 2026 compared to the third quarter of 2025, primarily driven by the following:

•higher volume in our trucking operations; and

•a decrease in operating expenses.

EBITDA increased by $6.0 million, or 33.6%, in the nine months ended September 30, 2026, compared to the nine months ended September 30, 2025, primarily driven by an increase in volume in our trucking operations.

42 |

Investments in Pipeline Joint Ventures Segment

The Investments in Pipeline Joint Ventures segment relates to strategic Joint Venture investments, accounted for as equity method investments, to support the Delek Holdings operations in terms of offering connection to takeaway pipelines, alternative crude supply sources and flow of high-quality crude oil to the Delek Holdings refining system. As a result, Delek Holdings is a major shipper and customer on certain of the Joint Venture pipelines, with minimum volume commitment ("MVC") agreements, which cushion the Joint Venture entities during periods of low activity. The other Joint Venture owners are usually major shippers on the pipelines resulting in a majority of the revenue of the Joint Venture entities coming from MVC agreements with related entities.

Investments in pipeline joint ventures segment include the Partnership's joint ventures investments described in Note 8 of our condensed consolidated financial statements in Item 1, Financial Statements, of this Quarterly Report on Form 10-Q.

Refer to Consolidated Results of Operations above for details and discussion of the investments in pipeline joint ventures segment for the three and nine months ended September 30, 2026.