# EDGAR Filing Document

**Accession Number:** 0001035002
**File Stem:** 0001193125-26-094105
**Filing Date:** 2026-3
**Character Count:** 5468
**Document Hash:** 399f6b1b639eef8b95dd4f158ca084d5
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-094105.hdr.sgml**: 20260305

**ACCESSION NUMBER**: 0001193125-26-094105

**CONFORMED SUBMISSION TYPE**: FWP

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20260305

**DATE AS OF CHANGE**: 20260305

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** VALERO ENERGY CORP/TX
- **CENTRAL INDEX KEY:** 0001035002
- **STANDARD INDUSTRIAL CLASSIFICATION:** PETROLEUM REFINING [2911]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 741828067
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** FWP
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 333-284608
- **FILM NUMBER:** 26726810

**BUSINESS ADDRESS:**
- **STREET 1:** P.O. BOX 696000
- **CITY:** SAN ANTONIO
- **STATE:** TX
- **ZIP:** 78269-6000
- **BUSINESS PHONE:** 2103454524

**MAIL ADDRESS:**
- **STREET 1:** P.O. BOX 696000
- **CITY:** SAN ANTONIO
- **STATE:** TX
- **ZIP:** 78269-6000
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** VALERO ENERGY CORP/TX
- **CENTRAL INDEX KEY:** 0001035002
- **STANDARD INDUSTRIAL CLASSIFICATION:** PETROLEUM REFINING [2911]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 741828067
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** FWP

**BUSINESS ADDRESS:**
- **STREET 1:** P.O. BOX 696000
- **CITY:** SAN ANTONIO
- **STATE:** TX
- **ZIP:** 78269-6000
- **BUSINESS PHONE:** 2103454524

**MAIL ADDRESS:**
- **STREET 1:** P.O. BOX 696000
- **CITY:** SAN ANTONIO
- **STATE:** TX
- **ZIP:** 78269-6000

**Free Writing Prospectus** 

**Filed Pursuant to Rule 433** 

**Registration Statement No. 333-284608** 

**March 5, 2026** 

**Valero Energy Corporation** 

**Pricing Term Sheet** 

$850,000,000 5.150% Senior Notes due 2036

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| | |
|:---|:---|
| Issuer: | Valero Energy Corporation (the "Company") |
| Ratings\*: | Baa2 (stable) (Moody's) / BBB (stable) (S&P) / BBB (stable) (Fitch) |
| Pricing Date: | March 5, 2026 |
| Settlement Date: | March 10, 2026 (T+3) |
| Denominations: | $2,000 x $1,000 |
| Title: | 5.150% Senior Notes due 2036 |
| Principal Amount: | $850000000 |
| Maturity Date: | March 10, 2036 |
| Benchmark Treasury: | UST 4.125% due February 15, 2036 |
| Benchmark Treasury Price and Yield: | 99-30; 4.132% |
| Spread to Benchmark Treasury: | T+102 bps |
| Yield to Maturity: | 5.152% |
| Price to Public: | 99.985% of the principal amount |
| Coupon: | 5.150% |
| Interest Payment Dates: | March 10 and September 10 of each year, commencing September 10, 2026 |
| Make-Whole Call: | T+20 bps prior to December 10, 2035 |
| Par Call: | On and after December 10, 2035 |
| CUSIP/ISIN: | 91913YBG4 / US91913YBG44 |
| Joint Book-Running Managers: | SMBC Nikko Securities America, Inc.<br> Citigroup Global Markets Inc.<br> MUFG Securities Americas Inc.<br> Wells Fargo Securities, LLC<br> BofA Securities, Inc.<br> J.P. Morgan Securities LLC<br> Mizuho Securities USA LLC<br> Scotia Capital (USA) Inc. |
| Co-Managers: | BBVA Securities Inc.<br> PNC Capital Markets LLC<br> RBC Capital Markets, LLC<br> TD Securities (USA) LLC<br> Truist Securities, Inc.<br> U.S. Bancorp Investments, Inc. |

---

\* Note: A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time.

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It is expected that delivery of the notes will be made to investors on or about March 10, 2026, which will be the third business day following the date hereof (such settlement being referred to as "T+3"). Under Rule 15c6-1 under the Securities Exchange Act of 1934, as amended, trades in the secondary market are required to settle in one business day, unless the parties to any such trade expressly agree otherwise. Accordingly, purchasers who wish to trade notes prior to the business day preceding the date of delivery of the notes hereunder will be required, by virtue of the fact that the notes initially settle in T+3, to specify an alternate settlement arrangement at the time of any such trade to prevent a failed settlement. Purchasers of the notes who wish to trade the notes prior to the business day before delivery hereunder should consult their advisors.

**The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling SMBC Nikko Securities America, Inc. at 1 (888) 868-6856, Citigroup Global Markets Inc. at 1 (800) 831-9146, MUFG Securities Americas Inc. at 1 (877) 649-6848 and Wells Fargo Securities, LLC at 1 (800) 645-3751.** 

This pricing term sheet supplements the preliminary prospectus supplement filed by Valero Energy Corporation on March 5, 2026 relating to the prospectus dated January 30, 2025.

Any disclaimers or other notices that may appear below are not applicable to this communication and should be disregarded. Such disclaimers were automatically generated as a result of this communication being sent via Bloomberg or another email system.