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, 2020 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. 001-36567 Westlake Chemical Partners LP 2801 Post Oak Boulevard, Suite 600 Houston, Texas 77056 (Address of principal executive offic ...

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 September 30, 2020 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. 001-36567 Westlake Chemical Partners LP (Exact name of registrant as specified in its charter) Delaware 32-0436529 (State or other jurisdictio ...

Westlake Chemical Partners LP (NYSE:WLKP) Q2 2020 Results Conference Call August 6, 2020 12:00 PM ET Company Participants Jeff Holy - VP & Treasurer Albert Chao - President, CEO & Director Steve Bender - SVP, CFO & Director Conference Call Participants Arun Viswanathan - RBC Mike Leithead - Barclays Matthew Blair - Tudor, Pickering, Holt Eric Petrie - Citi Steve Byrne - Bank of America Operator Good afternoon. Thank you for standing by. Welcome to the Westlake Chemical Partners Second Quarter 2020 Earnings ...

Washington, D.C. 20549 UNITED STATES SECURITIES AND EXCHANGE COMMISSION 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, 2020 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. 001-36567 Westlake Chemical Partners LP (Exact name of registrant as specified in its charter) Delaware 32-0436529 (State or other jurisdiction of ...

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, 2020 Securities registered pursuant to Section 12(b) of the Act: 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. 001-36567 Westlake Chemical Partners LP (Exact name of registrant as specified in its ...

Financial Data and Key Metrics Changes - Consolidated net income for Q1 2020 was $94 million, with Westlake Partners' net income at $80 million, reflecting strong operational performance [13][14] - Westlake Partners' net income increased by $3 million compared to Q1 2019, primarily due to increased production and higher third-party sales margins [15] - Distributable cash flow for Q1 2020 was $18 million, consistent with Q1 2019, but decreased by $1 million from Q4 2019 due to higher maintenance capital spending [16][21] Business Line Data and Key Metrics Changes - Ethylene facilities operated well above industry rates, contributing to solid financial performance [13] - The ethylene sales agreement helped insulate the company from commodity price risks, ensuring predictable cash flows [13][23] Market Data and Key Metrics Changes - The company maintained strong leverage metrics with a consolidated leverage ratio below 1x and a net debt to capitalization ratio below 25% [19] - The decision to defer the turnaround of the Petro 2 ethylene unit until 2021 was made due to its strong performance [20] Company Strategy and Development Direction - The company aims to leverage four growth levers: increasing ownership interest in OpCo, acquiring other income streams, organic growth through facility expansions, and negotiating higher fixed margins in sales agreements [25] - The predictable fee-based cash flow structure is viewed as an attractive investment thesis in the current uncertain economic environment [23][25] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the stability of cash flows despite the challenges posed by COVID-19 and low interest rates [23] - The company is prepared to navigate evolving market conditions and is optimistic about returning to normalized market operations [25] Other Important Information - The company announced a distribution of $0.4714 per unit for Q1 2020, a 6% increase from Q1 2019, maintaining a consistent distribution policy [22] - The partnership has made 23 consecutive quarterly distributions since its IPO in 2014, with a total growth of 71% since the original minimum distribution [22] Q&A Session Summary Question: Distribution growth considerations - Management indicated that the decision to maintain or grow distributions depends on capital market conditions and operational metrics, emphasizing the importance of a stable market for effective decision-making [30][31] Question: Risk of falling below contract minimums - Management reassured that the ethylene sales agreement outlines planned production, mitigating risks associated with short-term demand fluctuations [33][34] Question: Interest in raising capital through the Partnership - Management confirmed interest in utilizing the Partnership for capital raising, contingent on market conditions and effective valuation of assets [36][37] Question: Impact of deferred turnaround on earnings - Management noted that deferring the Petro 2 turnaround would allow continued production and earnings, as the plant was performing effectively [40] Question: Factors offsetting reduced spot ethane cracking - The strength of the ethylene sales agreement and hedging strategies were highlighted as key factors offsetting the impact of reduced spot ethane cracking [41]

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, 2019 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. 001-36567 Westlake Chemical Partners LP (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorp ...

Westlake Chemical Partners LP (NYSE:WLKP) Q4 2019 Earnings Conference Call February 18, 2020 12:00 PM ET Company Participants Jeff Holy - Vice President & Treasurer Albert Chao - President & Chief Executive Officer Steve Bender - Senior Vice President & Chief Financial Officer Conference Call Participants Matthew Blair - Tudor, Pickering, Holt Mike Whitehead - Barclays Operator Good morning. Thank you for standing by. Welcome to the Westlake Chemical Partners Fourth Quarter and Full Year 2019 Earnings Confe ...

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 September 30, 2019 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. 001-36567 Westlake Chemical Partners LP (713) 585-2900 (Registrant's telephone number, including area code) Securities registered pursuant to ...

Financial Data and Key Metrics Changes - Consolidated net income for Q2 2019 was reported at $80 million, with Westlake Partners' net income at $14 million, reflecting a $1 million increase from Q2 2018 [11][16] - MLP distributable cash flow for Q2 2019 was $16 million, unchanged from Q2 2018, but decreased by $2 million from Q1 2019 [17][18] - The Partnership's net income decreased by $1 million from Q1 2019, primarily due to one-time costs and higher interest expenses [18][19] Business Line Data and Key Metrics Changes - The increase in net income was attributed to a 4.5% increase in ownership interest in OpCo, which was effective from January 1, 2019 [21] - The long-term ethylene sales agreement with Westlake Chemical provides stable fee-based cash flow, covering 95% of ethylene sales, which protects cash flows from margin volatility [22] Market Data and Key Metrics Changes - The Partnership's cash at the end of Q2 was $17 million, with an additional $141 million invested with Westlake Chemical [23] - Long-term debt at the end of Q2 was $400 million, with $377 million at the Partnership and $23 million at OpCo [24] Company Strategy and Development Direction - The company aims to grow cash flows through acquisitions and margin expansion, maintaining a path toward long-term distribution growth [13] - The focus remains on delivering long-term value to unitholders, leveraging stable cash flows from the ethylene sales agreement and exploring organic expansions and acquisitions [30][31] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges in the MLP market but emphasized the Partnership's ability to deliver growth through various levers [30][56] - The market's perception of Westlake Partners may not fully reflect its unique business model and guaranteed income streams [41][56] Other Important Information - The company declared a quarterly distribution of $0.4579 per unit, marking the 18th consecutive increase in distributions [14][25] - The next turnaround at the Petro 2 facility is scheduled for 2020, with further details to be provided as planning is completed [23] Q&A Session Summary Question: Distribution growth runway and future transactions - Management indicated that they have the capability to grow distributions through various levers, including drop-downs and acquisitions, and will pursue opportunities as long as fair valuations are available [39] Question: Investor perception and unit price performance - Management noted that the market may not fully recognize the Partnership's strengths and is working to distinguish itself from other MLPs [41][56] Question: Coverage ratio and distribution growth - Management expects to improve the coverage ratio through the timing of expenditures and remains confident in their ability to grow distributions [47] Question: Ethane purchasing strategy - The Partnership is primarily protected from ethane price fluctuations due to its sales agreement, but it will take opportunities to optimize margins on small merchant sales [50] Question: Acquisition timing and structure - Westlake Chemical has three years to decide on increasing its ownership in the Lotte JV, and the Partnership is open to acquiring a portion of that interest based on valuation [64][66]