An exhaust valve includes a toroidal surface about an axis of rotation of the valve. The toroidal surface is positionable over a central exhaust port of an engine when lowered. The valve is raised by an actuator in response to increasing rotational speed of the crankshaft of the engine, thereby enlarging and raising the effective opening of the exhaust port. Lateral valve surfaces on either side of the toroidal surface close lateral exhaust ports when the valve is lowered. The lateral valve surfaces may be cylindrical and formed on fins.