Valvoline Inc. (NYSE:VVV) Q1 2022 Earnings Conference Call May 10, 2022 9:00 AM ET Company Participants Sean Cornett - Senior Director, Investor Relations Sam Mitchell - Chief Executive Officer Mary Meixelsperger - Chief Financial Officer Conference Call Participants Michael Kessler - Morgan Stanley Mike Harrison - Seaport Research Partners Operator Ladies and gentlemen, hello and welcome to Valvoline's 2Q 2022 Earnings Conference Call and Webcast. My name is Maxine and I'll be coordinating the call today. ...

Financial Data and Key Metrics Changes - Valvoline reported a 31% growth in total sales for Q1 2022, with adjusted EBITDA increasing by 5% and adjusted EPS growing by 12% [8][9][24] - The company expects a revenue CAGR of 14% and an adjusted EBITDA CAGR of 13% since 2019 [10] Business Line Data and Key Metrics Changes - Retail Services segment achieved a 36% sales growth year-over-year, with nearly 25% same-store sales growth [11][12] - Global Products sales increased by 28% year-over-year, with a solid contribution across regions despite supply chain challenges [16][22] Market Data and Key Metrics Changes - Retail Services saw system-wide store sales grow by 31% over the last year, driven by same-store sales and unit growth [11] - Global Products experienced a 32% sales increase compared to the pre-pandemic period of fiscal Q1 2020 [16] Company Strategy and Development Direction - The company is pursuing a separation of its Global Products and Retail Services businesses to enhance operational focus and shareholder value [30][31] - Valvoline is piloting an electric vehicle service package to cater to the growing EV market, indicating a strategic shift towards new service offerings [15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in recovering cost increases through pricing actions, despite ongoing inflationary pressures [20][49] - The company remains optimistic about its growth trajectory, citing strong demand for its products and services [32][86] Other Important Information - Valvoline plans to continue its share repurchase strategy, having returned $54 million to shareholders in Q1 [27][33] - The company anticipates total sales growth of roughly 20% for the fiscal year, driven by volume growth and pricing strategies [28] Q&A Session Summary Question: Can you separate price and volume for North America sales? - Management indicated that the volume benefit in the Global Products business was about $28 million, while the price cost lag impact was approximately negative $30 million [38] Question: Who owns the IP to the Valvoline brand post-separation? - Both segments will have access to the Valvoline brand, and a long-term supply contract will be established between Retail Services and Global Products [40] Question: What is the outlook for gross margins? - Management noted a sequential gross margin decline due to inflationary pressures across various raw materials, but they are optimistic about recovering costs through pricing adjustments [46][49] Question: How is the retail services business performing quarter to date? - Management reported good momentum in the second quarter, overcoming initial disruptions from Omicron and focusing on staffing stability [78] Question: Will the separation of businesses occur this year? - Management expects to complete the separation within the fiscal year, emphasizing a disciplined approach to ensure shareholder value [70]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ______________________ FORM 10-Q (Mark one) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to ___________ Commission file number 001-37884 VALVOLINE INC. (Exact name of registrant as specified in its charter) Kent ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended September 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to ___________ Commission file number 001-37884 VALVOLINE INC. Kentucky (State or other jurisdiction of incorporation or organization) 30-0939371 (I.R.S. Employer ...

Valvoline Inc. (NYSE:VVV) Q4 2021 Earnings Conference Call November 4, 2021 9:00 AM ET Company Participants Sean Cornett - Senior Director of Investor Relations Sam Mitchell - Chief Executive Officer Mary Meixelsperger - Chief Financial Officer Conference Call Participants Michael Kessler - Morgan Stanley Mike Harrison - Seaport Research Partners Wendy Nicholson - Citi Dan Rizzo - Jefferies Stephanie Moore - Truist Operator Hello everybody, and welcome to the Valvoline, Inc. Fourth Quarter of 2021 Earnings ...

Valvoline, Inc. (NYSE:VVV) Q3 2021 Earnings Conference Call August 5, 2021 9:00 AM ET Company Participants Sean Cornett - Senior Director of Investor Relations Sam Mitchell - Chief Executive Officer Mary Meixelsperger - Chief Financial Officer Conference Call Participants Simeon Gutman - Morgan Stanley Michael Harrison - Seaport Global Securities LLC Daniel Rizzo - Jefferies LLC Stephanie Benjamin - Truist Securities, Inc. Christopher Shaw - Monness, Crespi, Hardt & Co. Operator Ladies and gentlemen, welcom ...

1 | --- | --- | --- | |-------|-------|-------| | | | | | | | | | | | | | | | | Forward-Looking Statements Certain statements in this presentation, other than statements of historical fact, including estimates, projections and statements related to Valvoline's business plans and operating results, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Valvoline has identified some of these forward-looking statements with words such as "anticipates," "belie ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ______________________ FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to ___________ Commission file number 001-37884 VALVOLINE INC. (State or other jurisdiction of incorporation or organization) (I.R.S. Emp ...

Valvoline, Inc. (NYSE:VVV) Q2 2021 Earnings Conference Call April 29, 2021 9:00 AM ET Company Participants Sean Cornett - SD, IR Sam Mitchell - CEO Mary Meixelsperger - CFO Conference Call Participants Laurence Alexander - Jefferies Michael Kessler - Morgan Stanley Stephanie Benjamin - Truist Chris Shaw - Monness, Crespi Wendy Nicholson - Citi Mike Harrison - Seaport Global Securities Operator Ladies and gentlemen, thank you for standing by, and welcome to the Valvoline, Inc. 2Q 2021 Earnings Conference Cal ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ______________________ FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to ___________ Commission file number 001-37884 Indicate by check mark whether the registrant has submitted electronically every Interac ...