瓦莱罗能源美股招股说明书(2026-03-09版)

$850,000,000Valero Energy Corporation 5.150% Senior Notes due 2036 This is an offering of $850,000,000 aggregate principal amount of our 5.150% Senior Notes due 2036 (the “notes”). The notes will mature onMarch10, 2036. Interest on the notes will be payable semi-annually on March10 and September10 of each year, commencing September10, 2026. Wemay redeem the notes in whole at any time or in part from time to time at the redemption prices described in this prospectus supplement. The notes willbe issued in minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof. Investing in the notes involves risks. See “Risk Factors” on page S-4 of this prospectus supplement. Neither the Securities and Exchange Commission (“SEC”) nor any state securities commission has approved or disapproved of thesesecurities or passed upon the adequacy or accuracy of this prospectus supplement or the accompanying prospectus. Any representation to thecontrary is a criminal offense. (1)Plus accrued interest, if any, fromMarch10, 2026. The notes will not be listed on any securities exchange. Currently, there is no public market for the notes. This prospectus supplement and the accompanying prospectus are not intended to constitute an offer to, and the notes should not bepurchased, held or otherwise acquired by, a “specified foreign entity” (an “SFE”) as defined in Section7701(a)(51)(B) of the Internal RevenueCode of 1986, as amended (the “Code”). By purchasing the notes, any investor in the notes (including all affiliated entities that participate insuch purchase) will be deemed to represent and warrant to us that it is not, and will not be, for its taxable year that includes the date of theoriginal issuance of the notes, an SFE. It is expected that delivery of the notes will be made to investors through the book-entry delivery system of The Depository Trust Company for theaccounts of its participants, including Clearstream Banking S.A., and Euroclear Bank, SA/NV, as operator of the Euroclear System, on or aboutMarch10, 2026. SMBC NikkoBofA Securities WellsFargoSecuritiesScotiabank BBVATD Securities RBC Capital Markets Table of Contents TABLE OF CONTENTS Prospectus Supplement SummaryRisk FactorsUse of ProceedsDescription of the NotesMaterial U.S. Federal Income Tax ConsiderationsUnderwritingSpecial Note Regarding Forward-Looking StatementsLegal MattersExpertsWhere You Can Find More Information Prospectus About This ProspectusValero Energy CorporationRisk FactorsCautionary Statement Concerning Forward-Looking StatementsUse of ProceedsDescription of Debt Securities Plan of Distribution Legal Matters Experts Where You Can Find More Information As used in this prospectus supplement, the terms “Valero,” “we,” “us,” and “our” may, depending upon the context, refer to Valero EnergyCorporation, to one or more of its consolidated subsidiaries, or to all of them taken as a whole. We expect that delivery of the notes will be made to investors on or about March10, 2026, which will be the third business day following the dateof this prospectus supplement (such settlement being referred to as “T+3”). Under Rule 15c6-1 under the Securities Exchange Act of 1934, as amended(the “Exchange Act”), trades in the secondary market are required to settle in one business day, unless the parties to any such trade expressly agreeotherwise. Accordingly, purchasers who wish to trade notes prior to the business day preceding the date of delivery of the notes hereunder will berequired, 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 preventa failed settlement. Purchasers of the notes who wish to trade the notes prior to the business day before delivery hereunder should consult their advisors. Table of Contents SUMMARY Valero Energy Corporation We are a Fortune 500 company based in San Antonio, Texas. We were incorporated in Delaware in 1981 under the name Valero Refining andMarketing Company. We changed our name to Valero Energy Corporation in 1997. Our common stock trades on the New York Stock Exchangeunder the symbol “VLO.” We are a multinational manufacturer and marketer of petroleum-based and low-carbon liquid transportation fuels and petrochemical products,and we sell our products primarily in the United States (“U.S.”), Canada, the United Kingdom (“U.K.”), Ireland, and Latin America. We own 15petroleum refineries located in the U.S., Canada, and the U.K. with a combined throughput capacity of approximately 3.2million barrels per day.We are a joint venture member in Diamond Green Diesel Holdings LLC (“DGD”), which produces low-carbon fuels at two plants located in theGulf Coast region of the U.S. with a combined production capacity of approximately 1.2billion gallons per year. We also own 12 ethanol plantslocated in the Mid-Continent region of the U.S. with a combined production capacity of approximately 1.7billion gall