2018 Guide to Effective Proxies

6 TH EDITION | GUIDE TO EFFECTIVE PROXIES 410 PAY RATIO DISCLOSURE The following disclosure is required by Item 402(u) of SEC Regulation S-K. The median of the annual total compensation of all employees of Valero, except our CEO, for 2017 was $192,837, and the annual total compensation of our CEO, Mr. Gorder, for 2017 was $22,532,260 (as disclosed in the Summary Compensation Table). As a result, our CEO’s 2017 annual total compensation was 117 times that of the median annual total compensation of all employees of Valero. To determine the median of the annual total compensation of all employees as of Dec. 31, 2017, we first identified the median employee using the sum of base pay, annual bonus, and the grant date fair value of long-term incentive awards. Once the median employee was identified, we then determined that median employee’s annual total compensation using the Summary Compensation Table methodology set out in Item 402(c)(2)(x) of SEC Regulation S-K. Median Employee to CEO Pay Ratio Median Employee ($) CEO ($) Salary 94,256 1,585,000 Stock Awards — 12,734,060 Non-Equity Incentive Plan Compensation 10,660 3,800,000 Change in Pension Value and Nonqualified Deferred Compensation Earnings 54,935 4,269,202 All Other Compensation 32,986 143,998 Total Compensation 192,837 22,532,260 Median Employee to CEO Pay Ratio 1:117 2018 PROXY STATEMENT 57 VALERO ENERGY CORPORATION