Joliet refinery outage deepens record-breaking diesel crunch

## Key Takeaways - **Board appointment, not an operational update**: This filing announces Matt Audette (President & CFO of LPL Financial; former CFO of E*TRADE) joining Valero's Board and Audit Committee effective September 18, 2026. No throughput, margin, capture rate, or guidance data is disclosed in this release. - **Refining footprint (boilerplate, unchanged)**: Valero operates **14 petroleum refineries** across the U.S., Canada, and U.K. with combined throughput capacity of **~3.0 million bpd** — no change in stated capacity versus prior disclosures. - **Renewable diesel/SAF capacity (boilerplate, unchanged)**: Diamond Green Diesel JV has renewable diesel/SAF production capacity of **~1.2 billion gallons/year** in the U.S. Gulf Coast. No updated economics, feedstock costs, or blender's tax credit/45Z commentary provided. - **Ethanol segment (boilerplate, unchanged)**: 12 ethanol plants in the U.S. Mid-Continent with combined capacity of **~1.7 billion gallons/year** — capacity figure only, no production or margin data. - **No RIN/LCFS, capital allocation, or guidance signals**: The release contains no commentary on RIN prices, LCFS credit exposure, capex plans, buybacks/dividends, or forward guidance changes. - **Governance signal**: Adding a second public-company CFO with deep financial/risk/compliance background to the Audit Committee suggests continued board-level emphasis on financial discipline and risk oversight, but this is not a market-moving operational disclosure. **Market signal**: This filing is a governance/personnel announcement with no new operational, margin, or regulatory data — it carries no direct implications for refined fuels, renewable diesel, or RIN/LCFS market dynamics.