Valero Energy Continues to Reduce Long-Term Debt Through Previously Announced Series of Debt Reduction and Refinancing Transactions

Valero Energy Corp. (NYSE: VLO, "Valero") reduced its long-term debt by approximately $750 million in February through the previously announced debt reduction and refinancing transactions. The transactions included the issuance of $650 million aggregate principal amount of 4.000% Senior Notes due 2052 (the "Notes Issuance") and the use of the proceeds from the Notes Issuance and cash on hand to repurchase and retire approximately $1.4 billion aggregate principal amount of various series of Valero's senior notes.

These transactions, combined with debt reduction and refinancing transactions completed in the third and fourth quarters of 2021, collectively reduced Valero's long-term debt by approximately $2.0 billion.

About Valero

Valero Energy Corp., through its subsidiaries (collectively, "Valero"), is an international 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 a renewable diesel plant in Norco, Louisiana with a production capacity of 700 million gallons per year, and Valero owns 12 ethanol plants located in the Mid-Continent region of the U.S. 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 www.investorvalero.com for more information.

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Investors:

Homer Bhullar, Vice President - Investor Relations and Finance, 210-345-1982
Eric Herbort, Senior Manager - Investor Relations, 210-345-3331
Gautam Srivastava, Senior Manager - Investor Relations, 210-345-3992

Media:

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