Valero Energy Corporation Increases Regular Cash Dividend

The Board of Directors of Valero Energy Corp. (NYSE: VLO, "Valero") has approved an increase in the company's regular quarterly cash dividend on common stock from $0.98 per share to $1.02 per share. The dividend is payable on March 16, 2023 to holders of record at the close of business on February 14, 2023. The increase in the dividend raises the annualized cash dividend rate on Valero's common stock to $4.08 per share.

About Valero

Valero Energy Corp., 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 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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Valero Contacts
Investors:
Homer Bhullar, Vice President - Investor Relations and Finance, 210-345-1982
Eric Herbort, Director - 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