Renewable Diesel Driving Low Carbon Results
Demonstrated Discipline in Capital Allocation
$3.4
Annual Capital Investments Attributable to Valero
($ billion)
Sustaining Growth
Estimated Capital Investments Attributable to Valero
$2.0 Billion for 2021
$2.8
$2.7
$2.4
$2.6
$2.6
$1.8
$2.2
$0.7
$0.9
$1.4
$2.0
$2.0
$2.0
$1.5
$1.0
$0.9
$0.6
$0.9
60%
■Sustaining
■Growth
40%
■Renewables
Other Growth
>50%
Total Capital Investments
Attributable to Valero
Growth Capital Investments
Attributable to Valero
Sustaining Capex as a percentage of
>100%
Depreciation and Amortization
Steady
investments
to maintain a safe
and reliable
asset base and
enhance the
margin
capability of our
portfolio
$1.9
$1.7
$1.5
$1.4
$1.5 $1.4
$1.3
$1.2
$1.1
2019 2020
2021E
2012
76%
Steady investments to
improve portfolio efficiency
2019
2012 2013 2014 2015 2016 2017 2018
Sustaining includes costs for turnarounds and catalysts and regulatory compliance. Growth includes joint-venture investments but excludes acquisitions. Sustaining and growth excludes 50% of DGD's sustaining and growth
capex attributable to our joint venture partner and those related to other variable interest entities. Renewables reflects DGD and ethanol. See slides 43-53 for non-GAAP disclosures. Totals may not crossfoot due to rounding.
INVESTOR PRESENTATION | JUNE 2021
Over 50% of
growth capex is
allocated to
renewables
Valero 18View entire presentation