Valero Energy Corporation Increases Regular Cash Dividend

The Board of Directors of Valero Energy Corporation (NYSE: VLO, “Valero”) has approved an increase in the company’s regular quarterly cash dividend on common stock from $1.02 per share to $1.07 per share. The dividend is payable on March 4, 2024 to holders of record at the close of business on February 1, 2024. The increase in the dividend raises the annualized cash dividend rate on Valero’s common stock to $4.28 per share.

As a reminder, Valero will host a conference call on January 25, 2024, at 10 a.m. ET to discuss fourth quarter and full year 2023 earnings results, which will be released earlier that day, and to provide an update on company operations. Persons interested in listening to the presentation live via the internet may log on to Valero’s website at investorvalero.com.

About Valero Valero Energy Corporation, through its subsidiaries (collectively, Valero), is a multinational manufacturer and marketer of petroleum-based and low-carbon liquid transportation fuels and petrochemical products, and sells its products primarily in the United States (U.S.), Canada, the United Kingdom (U.K.), Ireland and Latin America. Valero owns 15 petroleum refineries located in the U.S., Canada and the U.K. with a combined throughput capacity of approximately 3.2 million barrels per day. Valero is a joint venture member in Diamond Green Diesel Holdings LLC, which owns two renewable diesel plants located in the U.S. Gulf Coast region with a combined production capacity of approximately 1.2 billion gallons per year, and Valero owns 12 ethanol plants located in the U.S. Mid-Continent region with a combined production capacity of approximately 1.6 billion gallons per year. Valero manages its operations through its Refining, Renewable Diesel, and Ethanol segments. Please visit investorvalero.com for more information.

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Investors: Homer Bhullar, Vice President – Investor Relations and Finance, 210-345-1982 Eric Herbort, Director – Investor Relations and Finance, 210-345-3331 Gautam Srivastava, Director – Investor Relations, 210-345-3992

Media: Lillian Riojas, Executive Director – Media Relations and Communications, 210-345-5002