Valvoline Inc. announced the expiration and results of its previously announced tender offer (the ?Tender Offer?) to purchase for cash any and all of its outstanding 4.250% senior notes due 2030 (the ?Notes?). The Tender Offer expired at 5:00 p.m., New York City time, on April 12, 2024. The Tender Offer was made to comply with the requirements of the asset sale covenant under the indenture governing the Notes.

CUSIP/ISIN: 92047W AD3 /US92047WAD39 (Rule 144A), U92147 AB0 /USU92147AB01 (Regulation S) Title of Notes 4.250% Senior Notes due 2030, Outstanding Principal Amount $600,000,000, Aggregate Principal Amount of Tendered Notes: $598,307,000 percent of Outstanding Principal Amount Tendered: 99.72%, Consideration: $1,000.00. No tenders submitted after the Expiration Time will be valid. Subject to the terms and conditions of the Tender Offer, holders that validly tendered their Notes and did not validly withdraw such Notes at or prior to the Expiration Time and whose Notes are accepted for purchase pursuant to the Tender Offer are eligible to receive the consideration as set forth in the table above.

In addition, holders whose Notes are accepted for purchase will receive accrued and unpaid interest on such Notes from the last date on which interest has been paid to, but excluding, the Settlement Date. Any Notes validly tendered at or prior to the Expiration Time that were not validly withdrawn at or prior to the Expiration Time may not be withdrawn thereafter, except as required by law. Valvoline expects to accept for purchase all of the Tendered Notes.

The Settlement Date for the Tendered Notes is expected to be April 16, 2024.