LEXINGTON, Ky., June 9, 2023 /PRNewswire/ -- Valvoline Inc. (NYSE: VVV) (the "Company"), a trusted leader in preventive automotive maintenance delivering quick and convenient service, today announced the preliminary results of its modified "Dutch auction" tender offer to repurchase up to $1.0 billion in value of shares of its common stock, which expired at 12:00 midnight, at the end of the day, New York City time, on Thursday, June 8, 2023. Based on the preliminary count by Equiniti Trust Company ("Equiniti"), the depositary for the tender offer, approximately 26,955,088 shares were properly tendered and not properly withdrawn at or below the expected final purchase price of $38.00 per share, including shares that were tendered through notices of guaranteed delivery.