Renewable Diesel Driving Low Carbon Results
ADVANCING
FUTURE
THE FU
Cautionary Statement
Valero
OF
ENERGY
This presentation contains forward-looking statements made by Valero Energy Corporation ("VLO" or "Valero") within the meaning of
federal securities laws. These statements discuss future expectations, contain projections of results of operations or of financial condition or
state other forward-looking information. You can identify forward-looking statements by words such as "plan," "should," "anticipate,"
"believe," "estimate," "expect," "could," "continue," "focused," "opportunity," "scheduled," "may," "will," "targeting," or other similar
expressions that convey the uncertainty of future events or outcomes. These forward-looking statements are not guarantees of future
performance and are subject to risks, uncertainties and other factors, some of which are beyond the control of Valero and are difficult to
predict including, but not limited to, the effect, impact, potential duration or other implications of the COVID-19 pandemic and various
events arising therefrom. These statements are often based upon various assumptions, many of which are based, in turn, upon further
assumptions, including examination of historical operating trends made by the management of Valero. Although Valero believes that the
assumptions were reasonable when made, because assumptions are inherently subject to significant uncertainties and contingencies, which
are difficult or impossible to predict and are beyond its control, Valero cannot give assurance that it will achieve or accomplish its
expectations, beliefs or intentions. When considering these forward-looking statements, you should keep in mind the risk factors and other
cautionary statements contained in Valero's filings with the Securities and Exchange Commission, including Valero's annual report on Form
10-K, quarterly reports on Form 10-Q, and other reports available on Valero's website at www.valero.com. These risks could cause the
actual results of Valero to differ materially from those contained in any forward-looking statement.
This presentation includes certain financial measures that are not defined under U.S. Generally Accepted Accounting Principles (GAAP) and
are considered to be non-GAAP measures. Valero has defined these non-GAAP measures and believes they are useful to the external users
of its financial statements, including industry analysts, investors, lenders, and rating agencies. Valero believes these measures are useful to
assess its ongoing financial performance because, when reconciled to their most comparable U.S. GAAP measures, they provide improved
comparability between periods after adjusting for certain items that Valero believes are not indicative of its core operating performance and
that may obscure its underlying business results and trends. These non-GAAP measures should not be considered as alternatives to their
most comparable U.S. GAAP measures nor should they be considered in isolation or as a substitute for an analysis of Valero's results of
operations as reported under U.S. GAAP. In addition, these non-GAAP measures may not be comparable to similarly titled measures used by
other companies because Valero may define them differently, which diminishes their utility. Valero's reconciliations of GAAP financial
measures to non-GAAP financial measures are located at the end of this presentation.
Valero
Energy Corporation
One Valero Way
INVESTOR PRESENTATION | JUNE 2021
Valero
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