Valero Energy Appoints Matthew Audette to Board of Directors

Executive Summary

On September 17, 2026, the Board of Directors of Valero Energy Corporation expanded its size to 11 members and elected Matthew Audette as an independent director, effective immediately. Mr. Audette has also been appointed to serve on the Board's Audit Committee. His initial term extends until Valero's 2027 Annual Meeting of Stockholders, where he is expected to stand for re-election.

Background & Expertise

Mr. Audette currently serves as the President and Chief Financial Officer of LPL Financial Holdings Inc. (NASDAQ: LPLA), where he oversees financial, risk, compliance, supervision, client service, and operational functions. He brings more than 15 years of public company CFO experience, having previously served as Executive Vice President and Chief Financial Officer of E*TRADE Financial Corporation.

Compensation Details

Under Valero's non-employee director compensation program, Mr. Audette received:

• A pro-rata equity award of 372 stock units, scheduled to vest in full on the first anniversary of the grant date.
• A pro-rata annual cash retainer of $101,667 for service through the 2027 Annual Meeting.

Additionally, the Board's Human Resources and Compensation Committee approved an increase beginning in 2027 of $10,000 each to the annual cash retainer and annual equity grant components of the non-employee director compensation program.

Trading & Market Impact

This filing represents a routine governance disclosure under Item 5.02 and Item 7.01 regarding the election of a qualified financial expert to the Board and Audit Committee. It carries low direct trading significance.