[PART I. FINANCIAL INFORMATION](index=4&type=section&id=PART%20I.%20FINANCIAL%20INFORMATION) [Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) Westlake Corporation's unaudited consolidated interim financial statements as of September 30, 2022, detail balance sheets, operations, cash flows, and notes on acquisitions, financial instruments, and segment information [Consolidated Balance Sheets](index=5&type=section&id=Consolidated%20Balance%20Sheets) As of September 30, 2022, total assets increased to $20.4 billion, liabilities to $10.2 billion, and equity to $10.2 billion, primarily due to acquisitions and retained earnings growth Consolidated Balance Sheet Highlights | Account | Sep 30, 2022 (in millions) | Dec 31, 2021 (in millions) | | :--- | :--- | :--- | | **Total Assets** | **$20,425** | **$18,459** | | Total Current Assets | $6,101 | $5,263 | | Property, plant and equipment, net | $8,301 | $7,606 | | Goodwill | $2,143 | $2,024 | | **Total Liabilities** | **$10,237** | **$9,931** | | Long-term debt, net | $4,813 | $4,911 | | **Total Equity** | **$10,188** | **$8,528** | | Retained Earnings | $9,700 | $7,808 | [Consolidated Statements of Operations](index=6&type=section&id=Consolidated%20Statements%20of%20Operations) Q3 2022 net sales rose to $3.96 billion, but net income decreased to $401 million; nine-month net sales grew to $12.5 billion, with net income increasing to $2.02 billion Q3 2022 vs Q3 2021 Performance | Metric | Q3 2022 (in millions) | Q3 2021 (in millions) | | :--- | :--- | :--- | | Net sales | $3,956 | $3,055 | | Gross profit | $776 | $1,018 | | Income from operations | $516 | $861 | | Net income attributable to Westlake | $401 | $607 | | Diluted EPS | $3.10 | $4.69 | Nine Months 2022 vs 2021 Performance | Metric | Nine Months 2022 (in millions) | Nine Months 2021 (in millions) | | :--- | :--- | :--- | | Net sales | $12,495 | $8,271 | | Gross profit | $3,506 | $2,399 | | Income from operations | $2,723 | $1,927 | | Net income attributable to Westlake | $2,015 | $1,371 | | Diluted EPS | $15.54 | $10.60 | [Consolidated Statements of Cash Flows](index=12&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) For the nine months ended September 30, 2022, operating cash flow increased to $2.56 billion, investing activities used $2.15 billion due to acquisitions, and financing activities used $480 million for debt repayment and share repurchases Cash Flow Summary for Nine Months Ended Sep 30 | Cash Flow Activity | 2022 (in millions) | 2021 (in millions) | | :--- | :--- | :--- | | Net cash provided by operating activities | $2,560 | $1,637 | | Net cash used for investing activities | $(2,148) | $(842) | | Net cash provided by (used for) financing activities | $(480) | $1,487 | | **Net increase (decrease) in cash** | **$(135)** | **$2,273** | [Notes to Consolidated Financial Statements](index=13&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) Notes detail financial statement preparation, Q4 2021 segment reorganization, the $1.2 billion Westlake Epoxy acquisition, debt instruments, fair value measurements, income tax, segment performance, and ongoing legal contingencies - In Q4 2021, the company reorganized into two principal operating segments: **Performance and Essential Materials**, and **Housing and Infrastructure Products**, applied retrospectively[28](index=28&type=chunk)[102](index=102&type=chunk) - On February 1, 2022, the company acquired Westlake Epoxy for **$1,207 million**, with results included in the Performance and Essential Materials segment[34](index=34&type=chunk) - The company is involved in multiple class-action lawsuits alleging price-fixing of caustic soda, with the potential financial impact currently unestimable[88](index=88&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=31&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses Q3 2022 net income decrease due to higher costs and a $70 million litigation charge, while nine-month net income increased significantly due to strong pricing and acquisitions, noting slowing demand and strong liquidity - Q3 2022 net income decreased to **$401 million** from **$607 million** in Q3 2021, primarily due to higher costs, lower prices, and a **$70 million** litigation charge[138](index=138&type=chunk) - For the first nine months of 2022, net income increased to **$2,015 million** from **$1,371 million**, driven by higher sales prices, strong H1 2022 margins, and acquisitions[139](index=139&type=chunk) - The company anticipates near-term margin and demand reduction due to higher energy costs, inflation, and rising interest rates, impacting European operations and the North American housing market[114](index=114&type=chunk)[119](index=119&type=chunk) - In August 2022, the Board authorized an additional **$500 million** for the existing share repurchase program[124](index=124&type=chunk) [Results of Operations](index=34&type=section&id=Results%20of%20Operations) Q3 2022 net sales rose 29% to $3.96 billion, but gross margin fell to 20%; nine-month sales grew 51% to $12.5 billion with stable gross margin, and SG&A expenses increased due to acquisitions Q3 2022 vs Q3 2021 Comparison | Metric | Q3 2022 (in millions) | Q3 2021 (in millions) | Change | | :--- | :--- | :--- | :--- | | Net Sales | $3,956 | $3,055 | +29% | | Gross Profit Margin | 20% | 33% | -13 p.p. | | Income from Operations | $516 | $861 | -40% | | SG&A Expenses | $215 | $122 | +76% | Nine Months 2022 vs 2021 Comparison | Metric | Nine Months 2022 (in millions) | Nine Months 2021 (in millions) | Change | | :--- | :--- | :--- | :--- | | Net Sales | $12,495 | $8,271 | +51% | | Gross Profit Margin | 28% | 29% | -1 p.p. | | Income from Operations | $2,723 | $1,927 | +41% | | SG&A Expenses | $635 | $383 | +66% | [Cash Flow Discussion](index=39&type=section&id=CASH%20FLOW%20DISCUSSION) For the first nine months of 2022, operating cash flow increased to $2.56 billion, investing activities used $2.15 billion primarily for acquisitions and capital expenditures, and financing activities used $480 million for debt repayment and share repurchases - Operating cash flow for the first nine months of 2022 increased by **$923 million** year-over-year, primarily due to higher income from operations[164](index=164&type=chunk) - Investing cash outflow increased significantly due to the **$1.17 billion** acquisition of Westlake Epoxy and a **$397 million** increase in capital expenditures[165](index=165&type=chunk) - Financing activities in the first nine months of 2022 used **$480 million**, mainly for **$250 million** in senior notes redemption, **$123 million** in dividends, and **$68 million** in share repurchases[166](index=166&type=chunk) [Liquidity and Capital Resources](index=40&type=section&id=LIQUIDITY%20AND%20CAPITAL%20RESOURCES) As of September 30, 2022, Westlake maintained strong liquidity with $1.78 billion in cash, $4.8 billion in debt, a new $1.5 billion credit facility, and an expanded $500 million share repurchase program - The company's cash and cash equivalents totaled **$1,778 million** as of September 30, 2022[171](index=171&type=chunk) - In June 2022, the company established a new **$1.5 billion** revolving credit facility maturing in 2027, with no outstanding borrowings as of September 30, 2022[175](index=175&type=chunk) - The Board expanded the share repurchase program by an additional **$500 million** in August 2022, with **$68 million** of common stock repurchased in the first nine months of 2022[168](index=168&type=chunk)[166](index=166&type=chunk) [Quantitative and Qualitative Disclosures about Market Risk](index=46&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) The company manages commodity price risk for raw materials, interest rate risk on its $4.9 billion debt, and foreign currency risk from international operations using derivative instruments and net investment hedges - The company faces commodity price risk from raw materials like ethane and natural gas; a hypothetical **$0.10** increase per gallon of ethane would increase pre-tax income by **$27 million**[201](index=201&type=chunk) - As of September 30, 2022, the company had **$4.89 billion** in fixed-rate debt and **$24 million** in variable-rate debt, exposing it to interest rate risk[202](index=202&type=chunk) - To mitigate foreign currency risk, the company uses hedging contracts and designated its **€700 million** senior notes due 2029 as a non-derivative net investment hedge for euro-denominated subsidiaries[204](index=204&type=chunk)[205](index=205&type=chunk) [Controls and Procedures](index=47&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that the company's disclosure controls and procedures were effective as of September 30, 2022, with no material changes to internal control over financial reporting during Q3 2022 - The President and CEO, along with the Executive VP and CFO, concluded that the company's disclosure controls and procedures were effective as of the report period end[206](index=206&type=chunk) - No material changes to internal control over financial reporting occurred during the quarter ended September 30, 2022[207](index=207&type=chunk) [PART II. OTHER INFORMATION](index=47&type=section&id=PART%20II.%20OTHER%20INFORMATION) [Legal Proceedings](index=47&type=section&id=Item%201.%20Legal%20Proceedings) The company faces class-action lawsuits for caustic soda price-fixing with unestimable impact, and an EPA consent decree for flares requiring $110 million in compliance costs and a $1 million penalty - Westlake is a defendant in class-action lawsuits in the U.S. and Canada alleging caustic soda price-fixing, with the potential financial impact currently unestimable[209](index=209&type=chunk) - The company reached an EPA consent decree for flares, requiring approximately **$110 million** in compliance costs and a **$1 million** penalty[211](index=211&type=chunk) [Risk Factors](index=48&type=section&id=Item%201A.%20Risk%20Factors) Updated risk factors emphasize external factors like inflation, rising interest rates, and potential recession impacting demand and margins, alongside dependency on cyclical markets like the softening U.S. housing market - External factors including inflation, interest rates, potential recession, supply chain constraints, and geopolitical events can cause demand and margin fluctuations[213](index=213&type=chunk)[214](index=214&type=chunk) - The U.S. housing market softened in Q2 and Q3 2022 due to inflationary pricing and rising mortgage rates, potentially adversely affecting the Housing and Infrastructure Products segment[218](index=218&type=chunk)[219](index=219&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=50&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) During Q3 2022, the company repurchased 372,430 shares at an average price of $87.27, and in August 2022, the Board authorized an additional $500 million for the repurchase program, with $528 million remaining Share Repurchases for Q3 2022 | Period | Total Shares Purchased | Average Price Paid Per Share | | :--- | :--- | :--- | | July 2022 | 51,330 | $97.37 | | August 2022 | — | — | | September 2022 | 321,100 | $85.64 | | **Total Q3** | **372,430** | **$87.27** | - In August 2022, the Board approved a **$500 million** expansion of the stock repurchase program, with **$528 million** available as of September 30, 2022[222](index=222&type=chunk) [Exhibits](index=51&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed with Form 10-Q, including corporate governance documents and certifications from the Principal Executive Officer and Principal Financial Officer - The exhibits filed include corporate governance documents and required certifications from the CEO and CFO under Rule 13a-14(a) and Section 1350[225](index=225&type=chunk)

[PART I. FINANCIAL INFORMATION](index=4&type=section&id=PART%20I.%20FINANCIAL%20INFORMATION) [Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) Consolidated financial statements for H1 2022 show significant growth, with total assets reaching **$20.4 billion** and net income more than doubling to **$1.6 billion**, reflecting strong market conditions and acquisitions | Financial Metric | Six Months Ended June 30, 2022 | Six Months Ended June 30, 2021 | | :--- | :--- | :--- | | **Net Sales** | $8,539 million | $5,216 million | | **Gross Profit** | $2,730 million | $1,381 million | | **Income from Operations** | $2,207 million | $1,066 million | | **Net Income Attributable to Westlake** | $1,614 million | $764 million | | **Diluted EPS** | $12.43 | $5.91 | | Balance Sheet Item | June 30, 2022 | December 31, 2021 | | :--- | :--- | :--- | | **Total Current Assets** | $6,013 million | $5,263 million | | **Total Assets** | $20,372 million | $18,459 million | | **Total Current Liabilities** | $2,513 million | $2,344 million | | **Total Liabilities** | $10,398 million | $9,931 million | | **Total Equity** | $9,974 million | $8,528 million | | Cash Flow Activity | Six Months Ended June 30, 2022 | Six Months Ended June 30, 2021 | | :--- | :--- | :--- | | **Net Cash from Operating Activities** | $1,613 million | $882 million | | **Net Cash used for Investing Activities** | ($1,803) million | ($264) million | | **Net Cash used for Financing Activities** | ($377) million | ($72) million | - On February 1, 2022, the Company completed its acquisition of Westlake Epoxy for a total purchase consideration of **$1,207 million**, with the acquired business included in the Performance and Essential Materials segment[29](index=29&type=chunk) - The company reorganized its business segments in Q4 2021 from Vinyls and Olefins to two new principal operating segments: Performance and Essential Materials, and Housing and Infrastructure Products, with this change retrospectively applied to all periods presented[26](index=26&type=chunk)[94](index=94&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=28&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management attributes strong Q2 2022 performance to higher sales prices and integrated margins, despite rising costs and interest rates, with robust cash flow supporting acquisitions and shareholder returns [Overview](index=28&type=section&id=Overview) Westlake operates as a vertically integrated manufacturer in two segments, benefiting from ethane-based cost advantages and strong demand, but faces raw material cost volatility and potential economic headwinds - The company operates under two principal segments: Performance and Essential Materials (including vinyls, chlor-alkali, olefins, and epoxy) and Housing and Infrastructure Products (including building products, pipes, and compounds)[104](index=104&type=chunk) - The acquisition of Westlake Epoxy represents a strategic expansion into high-growth applications like wind turbine blades and lightweight automotive components, providing vertical integration with the company's chlor-alkali business[109](index=109&type=chunk) - While global demand for most products remained strong through Q2 2022, management warns that inflation, rising interest rates, and the possibility of a recession are expected to have an unfavorable impact on demand for housing and other products[107](index=107&type=chunk)[115](index=115&type=chunk) [Recent Developments](index=31&type=section&id=Recent%20Developments) In H1 2022, Westlake completed key strategic actions including the **$1.2 billion** acquisition of Hexion's epoxy business, increased its LACC joint venture stake, redeemed senior notes, and secured a new **$1.5 billion** revolving credit facility - On February 1, 2022, the company completed the acquisition of Hexion's global epoxy business (Westlake Epoxy) for a purchase consideration of **$1,207 million**[119](index=119&type=chunk) - In March 2022, the company acquired an additional **3.2%** interest in LACC, LLC from Lotte Chemical Corporation for **$89 million**[121](index=121&type=chunk) - In May 2022, the company redeemed all outstanding **3.60%** Senior Notes due 2022[122](index=122&type=chunk) - On June 9, 2022, the company entered into a new **$1.5 billion** revolving credit facility scheduled to mature in June 2027, terminating its existing agreement[123](index=123&type=chunk) [Results of Operations](index=33&type=section&id=Results%20of%20Operations) For Q2 2022, net sales surged **57%** to **$4.5 billion** and net income rose to **$858 million**, driven by increased sales prices and volumes, largely from acquisitions, with both segments reporting significant growth | Metric | Q2 2022 | Q2 2021 | Change | | :--- | :--- | :--- | :--- | | **Net Sales** | $4,483M | $2,859M | +57% | | **Income from Operations** | $1,175M | $720M | +63% | | **Net Income Attributable to Westlake** | $858M | $522M | +64% | | **Diluted EPS** | $6.60 | $4.04 | +63% | | **EBITDA** | $1,456M | $932M | +56% | | Segment | Q2 2022 vs Q2 2021 Change | | :--- | :--- | | **Performance and Essential Materials** | | | Average Sales Price | +27.1% | | Volume | +17.5% | | **Housing and Infrastructure Products** | | | Average Sales Price | +46.1% | | Volume | +47.3% | - Performance and Essential Materials segment income from operations increased by **$294 million** to **$965 million** in Q2 2022, driven by higher sales prices for PVC resin, caustic soda, and styrene, and contributions from the Westlake Epoxy acquisition[142](index=142&type=chunk) - Housing and Infrastructure Products segment income from operations increased by **$140 million** to **$236 million** in Q2 2022, driven by higher sales prices from strong housing construction and remodeling activity, plus contributions from 2021 acquisitions[144](index=144&type=chunk) [Liquidity and Capital Resources](index=38&type=section&id=Liquidity%20and%20Capital%20Resources) The company's liquidity remains strong, with cash from operations increasing to **$1.6 billion** for H1 2022, supporting the **$1.2 billion** Westlake Epoxy acquisition and capital expenditures, while maintaining a new **$1.5 billion** credit facility and active stock repurchase program | Cash Flow Activity | Six Months Ended June 30, 2022 | Six Months Ended June 30, 2021 | | :--- | :--- | :--- | | **Net Cash from Operating Activities** | $1,613 million | $882 million | | **Net Cash used for Investing Activities** | ($1,803) million | ($264) million | | **Net Cash used for Financing Activities** | ($377) million | ($72) million | - As of June 30, 2022, cash and cash equivalents totaled **$1,317 million** and total indebtedness was **$4.9 billion**[165](index=165&type=chunk)[166](index=166&type=chunk) - During Q2 2022, the company repurchased **412,490** shares of its common stock for approximately **$41 million** under its authorized stock repurchase program[162](index=162&type=chunk)[209](index=209&type=chunk) - On June 9, 2022, the company entered into a new **$1.5 billion** revolving credit facility maturing in 2027, which was undrawn as of June 30, 2022[168](index=168&type=chunk)[55](index=55&type=chunk) [Quantitative and Qualitative Disclosures about Market Risk](index=45&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) Westlake is exposed to commodity price risk for products and raw materials, interest rate risk on its **$4.9 billion** fixed-rate debt, and foreign currency exchange risk, which it partially mitigates through derivatives and hedging instruments - A substantial portion of the company's products and raw materials are commodities, exposing it to price fluctuations, where a hypothetical **$0.10** increase in the price of a gallon of ethane would have increased pre-tax income by **$30 million** as of June 30, 2022[196](index=196&type=chunk) - As of June 30, 2022, the company had **$4.9 billion** in fixed-rate debt and **$26 million** in variable-rate debt, exposing it to interest rate risk upon refinancing or rate changes[197](index=197&type=chunk) - The company is exposed to foreign currency risk and uses hedges to mitigate it, having designated its **€700 million** senior notes due 2029 as a non-derivative net investment hedge for its euro-denominated subsidiaries[199](index=199&type=chunk)[200](index=200&type=chunk) [Controls and Procedures](index=46&type=section&id=Item%204.%20Controls%20and%20Procedures) Based on management's evaluation, including the CEO and CFO, the company's disclosure controls and procedures were effective as of June 30, 2022, with no material changes to internal control over financial reporting during the quarter - The President and CEO and the Executive VP and CFO concluded that the company's disclosure controls and procedures are effective as of the end of the period covered by the report[201](index=201&type=chunk) - No changes in internal control over financial reporting occurred during the three months ended June 30, 2022, that have materially affected, or are reasonably likely to materially affect, internal controls[202](index=202&type=chunk) [PART II. OTHER INFORMATION](index=46&type=section&id=PART%20II.%20OTHER%20INFORMATION) [Legal Proceedings](index=46&type=section&id=Item%201.%20Legal%20Proceedings) Westlake is involved in several legal matters, including a class-action antitrust lawsuit concerning caustic soda pricing with an unestimable financial impact, and an EPA agreement for flare emissions estimated to cost **$110 million** plus a **$1 million** penalty - The company is a defendant in multiple class-action lawsuits alleging a conspiracy to fix the price of caustic soda, with plaintiffs for direct purchasers seeking **$861 million** in single damages, though the company cannot estimate the potential impact at this time[204](index=204&type=chunk)[81](index=81&type=chunk) - The company reached an agreement on a consent decree with the EPA and state agencies regarding flare emissions, with compliance estimated to cost approximately **$110 million** in capital expenditures and other costs, plus a **$1 million** penalty[206](index=206&type=chunk) [Risk Factors](index=47&type=section&id=Item%201A.%20Risk%20Factors) This section directs investors to the detailed discussion of risk factors in the company's 2021 Form 10-K, with no new or updated risk factors presented in this quarterly report - The report refers readers to Item 1A, "Risk Factors" in the 2021 Form 10-K for a comprehensive discussion of potential risks[207](index=207&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=47&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) During Q2 2022, Westlake repurchased **414,910** shares of common stock, with **412,490** shares purchased for approximately **$41 million** under its stock repurchase program, leaving about **$61 million** available for future repurchases | Period (2022) | Total Shares Purchased | Average Price Paid Per Share | Shares Purchased as Part of Program | Approx. Dollar Value Remaining in Program | | :--- | :--- | :--- | :--- | :--- | | **April** | 611 | $119.41 | — | $101,151,083 | | **May** | 1,621 | $141.19 | — | $101,151,083 | | **June** | 412,678 | $98.19 | 412,490 | $60,652,803 | | **Total** | **414,910** | **$98.39** | **412,490** | **$60,652,803** | - The majority of shares repurchased were under the company's publicly announced 2014 Program, which has been expanded multiple times, and the program may be discontinued by the Board at any time[209](index=209&type=chunk) [Exhibits](index=48&type=section&id=Item%206.%20Exhibits) This section lists all exhibits filed with the Form 10-Q, including corporate governance documents, the new **$1.5 billion** Credit Agreement dated June 9, 2022, and certifications by the Principal Executive and Financial Officers - A key exhibit filed is the Credit Agreement dated June 9, 2022, relating to a **$1.5 billion** senior unsecured revolving credit facility[211](index=211&type=chunk)

Westlake Corporation (NYSE:WLK) Q2 2022 Earnings Conference Call August 2, 2022 11:00 AM ET Company Participants Jeff Holy – Vice President and Treasurer Albert Chao – President and Chief Executive Officer Steve Bender – Executive Vice President and Chief Financial Officer Roger Kearns – Chief Operating Officer Conference Call Participants Bhavesh Lodaya – BMO Capital Markets Kevin McCarthy – Vertical Research Partners Mike Leithead – Barclays Aziza Gazieva – Fermium Research Hassan Ahmed – Alembic Global M ...

Q2 2022 Earnings Presentation Westlake Delivers Record Quarter Business Highlights Record quarterly results in 2Q 2022: Record quarterly net sales of $4.5 billion, an increase of 57% vs. second quarter 2021 net sales Record quarterly net income of $858 million, an increase of 64% vs. second quarter 2021 net income Record quarterly EBITDA of $1.5 billion, an increase of 56% vs. second quarter 2021 EBITDA Performance driven by strong demand for Westlake's differentiated and specialized product offerings bolst ...

Q1 2022 Earnings Presentation Westlake Delivers Record Quarter | --- | --- | --- | --- | --- | |---------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------|---------------------------------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | Business Highlights | | | | | | Record results in 1Q 2022 | | | | | | | Record quarterly n ...

Form 10-Q UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Delaware 76-0346924 (State or other jurisdiction of incorporation or organization) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (I.R.S. Employer Identification Number) For the quarterly period ended March 31, 2022 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 No. 001-32260 Westlake Corp ...

Westlake Corporation (NYSE:WLK) Q1 2022 Earnings Conference Call May 3, 2022 11:00 AM ET Company Participants Jeff Holy - Vice President & Treasurer Albert Chao - President & Chief Executive Officer Steve Bender - Executive Vice President & Chief Financial Officer Roger Kearns - Executive Vice President & Chief Operating Officer Conference Call Participants Aleksey Yefremov - KeyBanc Capital Markets Kevin McCarthy - Vertical Research Mike Leithead - Barclays David Begleiter - Deutsche Bank Mike Sison - Well ...

Westlake Westlake Corporation Investment Highlights March 2022 A Global Leader in Housing & Infrastructure Products and Performance & Essential Materials • Established: 1986 (IPO 2004) • Headquarters: Houston, TX • Ticker: WLK • Locations: Offices in 23 Countries Manufacturing in 16 countries • Employees: ~16,000 Housing & Infrastructure Products Segment (HIP): Westlake is a leading producer of North American Building Products with strong brand positions and diverse product offerings. The HIP Segment includ ...

Table of Contents 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 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 No. 001-32260 Westlake Corporation (Exact name of registrant as specified in its charter) Delaware 76-0346924 (State or other jurisdictio ...

Westlake Corporation (NYSE:WLK) Q4 2021 Results Conference Call February 22, 2022 11:00 AM ET Company Participants Jeff Holy - VP and Treasurer Albert Chao - President and CEO Steve Bender - EVP and CFO Roger Kearns - EVP and COO Conference Call Participants Steve Byrne - Bank of America David Begleiter - Deutsche Bank Arun Viswanathan - RBC Capital Markets Kevin McCarthy - Vertical Research Mike Leithead - Barclays Hassan Ahmed - Alembic Global Frank Mitsch - Fermium Research Mike Harris - Goldman Sachs An ...