R. Lane Riggs

Board

Since June 30, 2023

Age

59 years

Tenure

Joined VLO in 2011 as Senior Vice President of Refining Operations and progressed through roles including Executive Vice President of Refining Operations and Engineering, Executive Vice President and Chief Operating Officer, President and Chief Operating Officer, eventually becoming CEO and President on 06-30-2023 and later elected Chairman on 12-31-2024.

Also at Valero Energy Corp

GKS

Gary K. Simmons

EVP and COO

JWF

Jason W. Fraser

EVP and CFO

RJW

Richard J. Walsh

SVP, General Counsel, and Secretary

About

R. Lane Riggs has built a distinguished career at Valero, where he has advanced through increasingly responsible leadership roles over more than a decade. He joined the organization at least in 2011 as Senior Vice President of Refining Operations and has since demonstrated a strong capacity for operational and strategic excellence.

Over the years, he has served as Executive Vice President of Refining Operations and Engineering, then as Executive Vice President and Chief Operating Officer, and later as President and Chief Operating Officer beginning January 2020. His promotion to CEO and President on June 30, 2023, followed by his election as Chairman on December 31, 2024, underscores his pivotal role in shaping the company’s operational and strategic vision.

While specific personal background and educational details are not available, his extensive tenure and progression within Valero illustrate a career built on leadership, operational expertise, and a deep commitment to the company’s success. His journey reflects a long-standing dedication to driving value in the energy sector.

$VLO Performance Under R. Lane Riggs

Past Roles

Organization	Role	Date Range	Details
Valero Energy Corporation	Chairman of the Board	As of December 31, 2024	Elected as of the close of business
Valero Energy Corporation	President and Chief Operating Officer	Jan 23, 2020 - Jun 30, 2023	Position ended upon promotion
Valero Energy Corporation	Executive Vice President and Chief Operating Officer	Jan 1, 2018 - Jan 22, 2020	Promoted to a higher role
Valero Energy Corporation	Executive Vice President - Refining Operations and Engineering	From 2014	Oversaw refining operations and engineering
Valero Energy Corporation	Senior Vice President - Refining Operations	From 2011	Held leadership in refining operations
Valero Energy Partners GP LLC	Board of Directors	2014 - 2019	Served on the board

Fixed Compensation

Data from FY 2023

Component Name	Amount	Payment Schedule	Additional Details
Base Salary	$1,250,000	Annual	Fixed annual base salary for 2023
All Other Compensation	$179,801	Annual	Includes Valero contributions to Thrift Plan ($23,100), Excess Thrift Plan ($64,400), health & welfare benefits ($32,123), personal use of corporate aircraft ($19,211), and other items

Performance Compensation

Data from FY 2023

Non-Equity Incentive Plan Compensation

Metric	Value	Additional Details
Target Amount	$1,731,250	Annual target based on achieving key financial, operational, and strategic objectives
Maximum Payout	$3,462,500	Maximum potential payout under the plan
Performance Metrics	N/A	Measured via the Annual Incentive Bonus Program focusing on safety, reliability, capital discipline, HSE, sustainability and climate-related goals
Evaluation Period	Annual	Performance assessed on an annual basis

Performance Shares (Equity Incentive Plan Awards)

Grant Date	Shares Granted	Grant Date Fair Value ($)	Vesting Schedule	Performance Metrics	Payout Range
February 23, 2023	7,344	$1,160,866	3 equal tranches: 2024, 2025, 2026 (First tranche vested at 110% of target in January 2024 )	TSR & Low-Carbon Fuels Strategy	0% - 200%
July 1, 2023	2,985	$342,827	3 equal tranches: 2024, 2025, 2026 (First tranche vested at 110% of target in January 2024 )	TSR & Low-Carbon Fuels Strategy	0% - 200%

*Additional Details: The grant date stock price is determined as the average closing price over the 15 trading days preceding the grant date, though the exact price is not specified. *