VALERO $VLO Q3’26 EARNINGS HIGHLIGHTS 🔹 Revenue: $46.10B (Est. $39.59B) 🟢 🔹 Adj. EPS: $23.90 (Est. $20.97) 🟢; +553% YoY Cash Flow & Returns: 🔹 Adj. Operating Cash Flow: $7.3B 🔹 Payout Ratio: 52% Segment Operating Income: 🔹 Refining: $8.8B 🔹 Renewable Diesel: $353M 🔹 Ethanol: $272M; +49% YoY Announcements: 🔹 The St. Charles FCC Unit optimization project was completed during the third quarter, on schedule and within budget. Other Q3 Metrics: 🔹 GAAP EPS: $23.89; +577% YoY 🔹 Refining Margin per Barrel: $39.24 🔹 Throughput: 3.0 million barrels per day Key Updates: 🔹 GAAP EPS of $23.89 includes $0.01 of Port Arthur Refinery fire expenses, excluded from adjusted EPS Comments: 🔸 “Our refineries operated at near-record utilization rates, providing a reliable supply of critical transportation fuels during the quarter.”