Renewable Diesel Driving Low Carbon Results
Advancing the Future of Energy with Capital Discipline,
Innovation and Unmatched Execution
Operations
Earnings Growth
Capital Discipline
Growth Through Innovation
Unmatched Execution with a Proven
History of Operations Excellence
• Safe, reliable, environmentally
responsible operations have driven
higher profitability and lower
volatility through multiple
commodity cycles
The lowest cash operating cost
among peer group while maintaining
first quartile operating performance
Applying our liquid fuels
manufacturing expertise to optimize
our renewable diesel business
•
•
Growth projects focused on
operating cost control, market
expansion and margin improvement
Leveraging our global liquid fuels
platform to expand our long-term
competitive advantage with
investments in economic low-carbon
projects
25% after-tax IRR hurdle rate for
projects
•
.
Demonstrated Commitment to
Stockholders
Disciplined capital allocation with
solid free cash flow and returns to
stockholders across margin cycles
Delivered on our target payout ratio
of 40% to 50% every year under
current management
13% average Return on Invested
Capital for the five-years ending
2019
Steadfast in the
execution of our
strategy, pursuing
excellence in
operations,
investing for
earnings
growth
with lower
volatility and
honoring our
commitment
to stockholder
returns
Comprehensive liquid fuels strategy driving economic growth projects and providing
a viable path to reduce and offset Refining GHG emissions by 63% by 2025
INVESTOR PRESENTATION | JUNE 2021
See slides 23-24 for notes regarding this slide. See slides 43-53 for non-GAAP disclosures.
Peer group includes PSX, MPC, HFC, and PBF.
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