Tranche Update on Valvoline Inc.'s Equity Buyback Plan announced on November 15, 2022.

Valvoline Inc. provides automotive preventive maintenance services through its retail stores throughout the United States and Canada. The Company's service includes 15-minute stay-in-your-car oil changes; battery, bulb and wiper replacements; tire rotations, and other manufacturer recommended maintenance services. It operates and franchises more than 1,850 service center locations through its Valvoline Instant Oil Change and Valvoline Great Canadian Oil Change retail locations and supports around 300 locations through its Express Care platform. Its services include fluid exchange, such as motor oil, transmission fluid, differential fluid and coolant; safety, such as tire inflation, tire rotation, safety check and bulbs, and parts replacement, such as 12 volts battery, filters, wiper blades and belts. Its services are offered to a wide range of vehicle types, including fleets, such as hybrid electric vehicle, battery electric vehicle, medium duty and passenger car motor oil/light duty.