Valero Energy Corporation San Antonio, Texas 78249 Phone: (210) 345-2000 Valero Energy Ecosystem www.valero.com

Outside Relationships Outside Relationships Valero Energy (a Delaware Corporation) Regulators Capital Suppliers Customers Customers Suppliers Capital Regulators Debt Structure Equity Structure Securities Regulation and NYSE Listing Rules Key US Federal Public Debt Bond Financing Debt ( $ 9.67 B @ 12.31.2019 ) | Credit Ratings: (Long-term unsecured): BBB (Fitch), BBB (S&P), Baa2 (Moody’s) Equity Matters Securities Regulators Holders Regulators Letter of Credit Facility) Maturing Canadian Revolver Maturing IEnova Revolver (a VIE Facility) Valero Senior Notes at 3.65-6.125% Valero Senior Notes Maturing 2031- VLP Senior Notes Maturing Common Stock Common Stock Repurchase Plan Dividends and Common Significant Commercial 2020: $50 M 2020: C$150 M Maturing 2028: $491 M Maturing 2020-2025: $600 M 2040 of 6.625-10.5%: $2,524 M 2026 of 4.375%: $500 M Authorized: 1,200,000,000 shares Authority: $2.5 billion Stock Repurchases US Securities U.S. Working Capital and Shareholders Banks Accounts Receivable Sales Valero Senior Notes at 3.4-8.75% Valero Senior Notes Maturing 2045- VLP Senior Notes Maturing Outstanding: 409,291,851 (673,501,593 Issued) Expiration: None and Exchange Environmental Revolving Credit Valero Revolver Maturing 2024: (Barclay’s Bank, Facility Maturing 2020: $1.3 B $4.0 B Maturing 2026-2030 : $3,200 M 2097 of 4.9-7.45%: $160 M 2028 of 4.5%: $500 M Record Holders: 5,082 Amount Available: $1.5 billion Equity Capital Commission Protection Financings The Vanguard JPMorgan Chase, Group, Inc. (Securities Law Agency RBS, Wells Fargo, Professional Disclosure and Mizuho Bank, Bank (10.76%) Reporting Regulation of Environmental Services of Tokyo- Governance Human Resources Commercial Finance and Accounting Legal Corporate Matters Requirements; Discharge of Protection and General SSgA Funds Mitsubishi) Board of Directors Anti-Bribery Law Materials into the Human Resources Advertising Budget Support Litigation Management Information Technology KPMG Business Regulation Alternative Management, Compliance) Environment, H. Paulett Eberhart (A) Donald L. Nickles (P) Randall J. Weisenburger (A) Operations Energy and (Audit Services) Internal Audit IT Software and Equipment Inc. (6.23%) Waste Key Categories Retail Accounts Regulatory Affairs Project Management, Kimberly S. Greene (P) Philip J. Pfeiffer (C) Rayford Wilkins, Jr. (C) Compensation Bracewell LLP New York of Supply Accounting Development BlackRock Pollution Board Committees: IT Infrastructure (Lobbying) Stock Deborah P. Majoras (P) Robert A. Profusek (C) E Commerce Contract Management Fund Advisors Prevention Chemicals Chemical Supplies Audit (A), Compensation (C), Benefits Financial Reporting Exchange Measures, Nominating and Governance, and Data Processing Systems Oversight of Professional Services (5.36%) (Listing and and Catalysts Eric D. Mullins (P) Stephen M. Waters (A) Wholesale Marketing Corporate Governance Ernst & Young Greenhouse Gas Public Policy Committee (P) Immigration Tax Valero's 14 (Lobbying) Maintenance (GHG) Emissions Procurement Management Capital Rules) National Oil Ethanol Plants Management Team Talent Acquisition Commercial Operations Forecasting Labor and Employment Law Systems Campbell Research & Companies Sets Renewal Joseph W. Gorder (Chairman and Eric Fisher (SVP- Wholesale Marketing Mark Schmeltekopf (SVP and Chief y Ewald Management Information Systems CEO) and International Commercial Operations) Accounting Officer) Talent Development Profit Planning Intellectual Property (Advertising Co (4.53%) Fuel Standard Global Supply Chain Optimization Alternative Services) (RFS)—an Annual Development Chemical Rich Lashway (SVP – Corporate Cheryl Thomas (SVP and Chief Energy Quota for the R. Lane Riggs (President and COO) Diversity and Inclusion Corporate Development and Compliance Pillsbury Charles Producer Development and Strategy) Technology Officer) E Commerce Platforms Investments Quantity of Maintenance, Repair Economic Analysis for Strategy Winthrop Schwab Renewable Fuels Global Security Martin Parrish (SVP – Alternative Rich Walsh (SVP and General Refining Operations Securities Law Reporting IT Support Shaw Pittman Investment (such as Ethanol Maintenance and Operating Supplies Jason W. Fraser (EVP and CFO) Energy and Project Development) Counsel) Company Strategy (Environmental Management and Diesel) That Materials Facilities Project Supplier Relations Environmental, Health and Inventory Management Legal Services) Must be Blended Julia Rendon Reinhart (SVP and Greg Bram (VP- Supply Chain (1.63%) Gary K. Simmons (EVP and CCO) Innovation Safety Systems Development into Transportation MRO Supplies CHR Officer) Optimization) Administrative Services Fuels Consumed Institutional in the U.S.A Onsite/ Offsite Engineering Services Ownership: Services 78.14%% Water and Air Operations Engineering Permits Transportation Services Services Renewable Diesel Ethanol For Raw Materials And Petroleum Refineries Transportation Finished Goods (2020 Revenues: $60.848 B) (2020 Revenues: $1.267 B) (2020 Revenues: $3.243 B) Providers Description Description Description Rail Cars Key Company Data The renewable diesel segment produces low-carbon (as of December 31, 2020) Barges And The refining operations involve (a) refining crude oil into fuel, intensity renewable diesel fuel from recycled animal fats, The ethanol operations involve (a) acquiring corn and using the entire California Air Ocean-going petrochemical feedstocks, and specialty products such as asphalt and used cooking oil and inedible corn oil. The company kernel of corn to produce renewable fuel and other products, (b) marketing Share Data Financial Highlights Resources Ships solvent, (b) marketing activities associated with these products, and (c) conducts these operations through Diamond Green Diesel activities associated with these products, and (c) operating logistics assets Board (CARB) operating logistics assets to support the refining operations. Holdings LLC (DGD), a joint venture with Darling to support the ethanol operations. Stock Exchange: NYSE Results of Operations (Specifications for Third Party Ingredients Inc. Sale of Gas In Pipeline Ticker Symbol: VLO Total Revenues: California) Systems Characteristics Characteristics Characteristics $64.912 B EPS: -$3.50 Trucking 3,100 Miles of Active Renewable diesel is sold in California, Canada and 1.73 billion gallons per 20% share of US ethanol Cost of Goods Sold: Natural Gas Feedstock 3.2 Million Barrels Per Day Over 50 Docks 1000 employees Share Price (3/5/2021): Companies Pipelines Europe (planned expansion to increase production to 675 year exports in 2019 World's second largest $65.735 B Supplies for Valero Refineries Independent $78.96) million gallons per year in 2021). corn ethanol producer Fuel Retailers Natural Gas And Ethanol Plants Approximately 6000 130 Million Barrels of Processing Facilities General and Annual Dividend: $3.60 Suppliers Employees Storage Sunoco Gas Administrative Expenses: Each year Valero’s Diamond Green Diesel joint venture is Albert City Plant Albion Plant Aurora Plant Bloomingburg Plant $756 M (Albert City, IA) (Albion, NE) (Aurora, SD) (Bloomingburg, OH) Stations Forward Annual Internal Gas Suppliers Refining Facilities the world’s second largest producer of renewable diesel. Wholesale Sales Operating Income: of Motor Fuel Dividend: $3.92 Revenue Corn Feedstock Supplies Ardmore Refinery Bill Greehey Refineries Jean Gaulin Refinery McKee Refinery Bluffton Plant Charles City Plant Fort Dodge Plant Hartley Plant Other Fuel - $1.579 B Corn Suppliers Service and For Ethanol Production (Ardmore, OK) (Corpus Christi, TX) (Canada) (Sunray, TX) Strategically located next to Valero’s St. Charles refinery (Bluffton, IN) (Charles City, IA) (Fort Dodge, IA) (Hartley, IA) Outlets State/Local Tax to capture synergies and gain access to export markets Resources Local Farmers Jefferson Plant Lakota Plant Net Loss: -$1.421 B Authorities Benicia Refinery Houston Refinery Memphis Refinery Texas City Refinery Linden Plant Mount Vernon Plant (Benicia, CA) (Houston, TX) (Memphis, TN) (Texas City, TX) Processing Facilities (Johnson Creek, WI) (Lakota, IA) Sales of (Income Taxes, Crude Oil (Linden, IN) (Mount Vernon, IN) Employees: 10,222 Diamond Green Diesel I Plant Motor Fuel Indirect Taxes Pembroke Refinery Meraux Refinery Riga Plant Welcome Plant (Excise/Duty, National Oil Crude Oil Supplies St. Charles Refinery Wilmington Refinery (Norco, La) (275 Million Gallons of Renewable Diesel) and Global Headquarters: (Wales, UK) (Chalmette, LA) (Blissfield, MI) (Welcome, MN) Financial Condition (2019) Sales/Use, Gross Companies And (Norco, LA) (Wilmington, CA) Merchandise San Antonio, Texas Receipts, and Open Market Port Arthur Refinery Three Rivers Refinery Diamond Green Diesel I Plant Products Value-Added (Under Construction in Norco, La) (400 Million Gallons of Renewable 15 Petroleum Refineries Total Assets: $51.774 B Suppliers (Port Arthur, TX) (Three Rivers, TX) Ethanol Taxes), Payroll Diesel and 60 Million Gallons of Renewable Naphtha) Ethanol in USA, UK, Canada Taxes, Franchise Products Wind Energy Wind Energy Equipment Products (a clean-burning, high-octane renewable fuel that is blended with gasoline) Taxes, Withholding Total Liabilities: And Supplies Diamond Green Diesel III Plant Consumers 3100 Miles of Active Taxes, and Ad Suppliers (Under Development in Port Arthur, Texas) (425 Million Gallons of $29.238 B Valorem Taxes) Asphalt Propane Petroleum Coke Natural Gas Liquids Renewable Diesel and 40 Million Gallons of Renewable Naphtha) Distiller’s grains, dried or modified (wet) Pipelines of Petroleum Wind Turbine, (Protein, fat, fiber and other solids from the fermenting process, used as a high-value feed for cattle, swine and poultry) Airports Blade And Data Privacy Sulfur Solvents Aromatics Naphthenic Oils Production Process Sales of Motor Fuel Platform Fuel-and feed-grade corn oil Military Key Competitors Regulators 1. Feedstock: Diamond Green Diesel receives animal fat and Merchandise Manufacturers (Used to make renewable diesel fuel and livestock feed) (California Production Process and used cooking oil primarily from restaurants, Equity: $22.536 B Consumer Privacy Supplies of Animal Fat, Motor Fuel Marathon Petroleum Renewable Used Cooking Oil, and supermarkets and other foodservice establishments, and Regulation, 1. Shipping: Acquires 2.2 million barrels of crude oil a day from suppliers. The crude is shipped to the refineries via Production Process Customers European General Diesel Distiller’s Corn Oil inedible corn oil primarily from ethanol plants. Feedstocks pipeline, rail, trucks, or ships and barges. Phillips 66 Cash Flow (2019) Data Protection Suppliers are transported to the plant by rail, truck, and ships and 1. Receiving: Local farmers and suppliers deliver field corn to the plants by truck and rail. Regulation barges. Exxon Mobil Corporation (GDPR)) Restaurants 2. Storage: The crude oil is stored in the refineries, which have a storage capacity of 26.2 million barrels. Livestock Feed Ranchers and From Operations: 2. Fermentation: Water, yeast, and enzymes are mixed and heated to form corn mash, which fermented for 2. Processing: The feedstocks are treated to remove Farmers $5.532 B Similar Supermarkets more than 48 hours to produce ethanol and carbon dioxide. (Cattle, Pigs, and Devon Energy Corp 3. Refining: The crude oil is heated by a furnace and sent to a distillation tower, where it is separated by boiling impurities and then hydro-treated with high-pressure Chicken) From Investing: Government hydrogen to remove oxygen and separate the water. The Ethanol Plants point. Then the material is converted by heat, pressure or a catalyst into finished products such as fuel (gasoline -$3.001 B Regulatory next step is isomerization where cold flow properties are 3. Distillation: The fermented mash is heated to separate the ethanol from the water and solids in distillation. Occidental Petroleum Agencies Other and diesel) and specialty products (e.g., asphalt and solvents). Corporation managed to ensure compatibility with existing Renewable Outside the Foodservice infrastructure and engines. The final step is fractionation-- From Financing : 4. Transportation: Finished refined products are shipped to customers via pipeline, rail, trucks or ships and 4. Drying: The non-fermentable solids are dried to produce the feed product – distiller’s grains. Diesel U.S. Establishments i.e., the separation of feedstocks into finished products. Distiller’s Corn Oil Imperial Oil Ltd. -$2.997 B barges. Producers 5. Markets: Ethanol is shipped primarily by rail to fuel providers who mix the ethanol with gasoline to be sold at 5. Consumers: The company distributes the fuel to Valero fuel stations and to fuel outlets (e.g., Sunoco) for sale 3. Distribution: Renewable diesel is stored until it is Valero stations and other fuel outlets. Distiller’s grains are shipped primarily by truck, rail and barge to Diamond Green Recent Developments to motorists and other end consumers. Valero also sells fuel directly to the military and airports. shipped to customers primarily in low-carbon markets. It businesses that process them into livestock feed. The corn oil is shipped primarily to plants to make renewable Diesel Joint can be transported via pipeline, ship or railcar. diesel fuel. Venture Valero Energy Corp announced partnership with P97 (Valero Energy-- networks to deliver a new consumer experience across 50%) its 5,100 sites in the United States.

Valero Energy Corp Valero Energy Corp installed 33 windmills in 2009 to Other Occupational Wholesale Sale of Wholesale Sale of Oil and Natural supply a refinery in Sunray, Texas with green electricity Air Discharge Renewable Health and Safety Refined Petroleum Refined Diesel Gas Pipeline to produce gasoline and diesel. It was recently able to Permits Products Diesel Fuel Regulation Products Regulation pay for itself (10 years later). Producers Refined Wholesale Rack Markets Bulk Sales Market (Oil Low Carbon Market Petroleum Low Carbon Recently completed the Central Texas Pipelines and (Wholesalers, Distributors, Retailers, Companies, Traders, Customers (Light-Duty Product Feedstocks Suppliers Terminals project which reduces secondary costs and Consumers and Truck-Delivered End Users Railroads, Airlines, and Utilities and Heavy-Duty Vehicles) extends the supply chain from the Gulf Coast.

Health and U.S. Occupational Safety and Health Administration (OSHA) Louisiana and Texas Pipeline and U.S. Department of Transportation Federal Energy Regulatory Commission (FERC) United States Coast Guard (USCG) Safety (Requires Reporting, Safety Measures, and Workplace Disclosure Regarding Commission on Environmental Transportation (Includes Surface Transportation Board, Pipeline and Hazardous Materials Safety Administration, and Federal (Requires Tariff Rates for Interstate Pipelines That (Restricts Marine Transportation of Crude Oil to March Regulations Hazardous Jobs and Hazardous Materials Used or Produced in Operations) Quality (TCEQ) Regulation Railroad Administration) (Pipeline Regulation; Establishes Safety Standards for Hazardous Liquid Pipelines ) Transport Crude Oil) Vessels Built and Owned by the U.S.) © 2021 www.onepagethinking.net 2021