| --- | |-------| | | | | Acquisition Significantly Expands Westlake's Leading Positions in Fast Growing Home Building Products • Acquisition of Boral Limited's North America building products business ('BNA') adds significant scale and product diversification to Westlake to broaden its leading Building Products business: – BNA has leading positions in Concrete & Clay Roofing, Decorative Stone, and Plastic Shutters; as well as strong positions in Stone Coated Metal Roofing, Texas Windows, and Premium Siding ...

| --- | --- | |-------|---------------------------------------------------------------------------------------| | | | | | Goldman Sachs Leveraged Finance Conference May 17, 2021 Westlake Chemical Partners LP | Westlake Chemical Partners LP Attractive Yield, Stability, and Long Growth Runway Westlake Chemical Partner's (WLKP) combination of yield, cash flow stability, and runway of available growth offers a compelling investment opportunity relative to other yield oriented investments • WLKP currently pays a ...

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 No. 001-36567 Westlake Chemical Partners LP (Exact name of registrant as specified in its charter) Delaware 32-0436529 (State or other jurisdiction of ...

Westlake Chemical Partners LP (NYSE:WLKP) Q1 2021 Earnings Conference Call May 4, 2021 1:00 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 Mike Leithead - Barclays Steve Byrne - Bank of America Operator Good afternoon. Thank you for standing by. Welcome to the Westlake Chemical Partners First Quarter 2021 Earnings Conference Call. During the present ...

Financial Performance - Westlake's sales for the first quarter of 2021 were $2357 million, a 20% increase compared to $1965 million in the fourth quarter of 2020 and a 22% increase compared to $1932 million in the first quarter of 2020[11] - The company's operating income for 1Q21 was $346 million, a 94% increase compared to $178 million in 4Q20 and a 154% increase compared to $136 million in 1Q20[11] - Westlake's EBITDA for 1Q21 was $553 million, a 43% increase compared to $386 million in 4Q20 and a 64% increase compared to $337 million in 1Q20[11] - Net income attributable to Westlake Chemical Corporation for 1Q21 was $242 million, compared to $113 million in 4Q20 and $145 million in 1Q20[8, 24] - Diluted earnings per share attributable to Westlake Chemical Corporation for 1Q21 was $1.87, compared to $0.87 in 4Q20 and $1.13 in 1Q20[8, 24] Segment Performance - Vinyls segment sales for 1Q21 were $1820 million, a 14% increase compared to $1590 million in 4Q20 and a 21% increase compared to $1505 million in 1Q20[15] - Vinyls segment EBITDA for 1Q21 was $367 million, a 10% increase compared to $334 million in 4Q20 and a 58% increase compared to $232 million in 1Q20[15] - Olefins segment sales for 1Q21 were $537 million, a 43% increase compared to $375 million in 4Q20 and a 26% increase compared to $427 million in 1Q20[18] - Olefins segment EBITDA for 1Q21 was $216 million, a 266% increase compared to $59 million in 4Q20 and a 120% increase compared to $98 million in 1Q20[18] Industry Outlook and Sustainability - The company is focused on sustainability, launching green caustic soda with a reduced CO2 impact of more than 30% compared to conventional caustic soda[4, 10] - Over a five-year period, Westlake has reduced Sulphur Dioxide emissions to almost zero and achieved a nearly 30% reduction on CO2 emissions[4]

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 ...

Westlake Chemical Partners LP (NYSE:WLKP) Q4 2020 Results Conference Call February 23, 2021 12:00 PM ET Company Participants Jeff Holy - Vice President and Treasurer Albert Chao - President and Chief Executive Officer Steve Bender - Senior Vice President and Chief Financial Officer Conference Call Participants Matthew Blair - Tudor, Pickering Holt Stephen Byrne - Bank of America Operator Good afternoon. Thank you for standing by. Welcome to the Westlake Chemical Partners Fourth Quarter 2020 Earnings Confere ...

[PART I. FINANCIAL INFORMATION](index=4&type=section&id=PART%20I.%20FINANCIAL%20INFORMATION) [Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) Unaudited statements show increased net income driven by higher sales prices and a significant buyer deficiency fee Consolidated Balance Sheet Highlights (Unaudited) | Account | Sep 30, 2020 ($ thousands) | Dec 31, 2019 ($ thousands) | | :--- | :--- | :--- | | **Total current assets** | 278,162 | 238,411 | | **Total assets** | 1,382,282 | 1,393,456 | | **Total current liabilities** | 41,694 | 38,849 | | **Total liabilities** | 443,450 | 441,321 | | **Total equity** | 938,832 | 952,135 | Consolidated Statements of Operations Highlights (Unaudited) | Metric | Q3 2020 ($ thousands) | Q3 2019 ($ thousands) | Nine Months 2020 ($ thousands) | Nine Months 2019 ($ thousands) | | :--- | :--- | :--- | :--- | :--- | | **Total net sales** | 231,969 | 249,925 | 721,018 | 819,073 | | **Gross profit** | 100,391 | 93,219 | 293,969 | 275,831 | | **Income from operations** | 94,136 | 86,397 | 275,379 | 254,397 | | **Net income** | 91,848 | 82,479 | 265,995 | 240,985 | | **Net income attributable to WLKP** | 18,535 | 14,922 | 51,142 | 43,610 | | **EPS (Common units, basic & diluted)** | $0.53 | $0.42 | $1.45 | $1.27 | Consolidated Statements of Cash Flows Highlights (Unaudited) | Cash Flow Activity | Nine Months Ended Sep 30, 2020 ($ thousands) | Nine Months Ended Sep 30, 2019 ($ thousands) | | :--- | :--- | :--- | | **Net cash provided by operating activities** | 340,876 | 335,154 | | **Net cash used for investing activities** | (58,170) | (45,982) | | **Net cash used for financing activities** | (279,298) | (290,269) | | **Net increase (decrease) in cash** | 3,408 | (1,097) | - The Partnership operates ethylene production facilities and holds a **22.8% limited partner interest** in OpCo, consolidating its results[21](index=21&type=chunk)[22](index=22&type=chunk)[25](index=25&type=chunk) - A quarterly cash distribution of **$0.4714 per unit** was declared for Q3 2020, payable on November 24, 2020[38](index=38&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=19&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Strong Q3 results were driven by a $41.3 million buyer deficiency fee, offsetting lower production volumes [Recent Developments](index=21&type=section&id=Recent%20Developments) Hurricanes Laura and Delta forced facility shutdowns, triggering a force majeure event and a buyer deficiency fee - The business did not experience significant disruptions from COVID-19 due to its **take-or-pay contract with Westlake** covering 95% of production[99](index=99&type=chunk) - A force majeure declaration following Hurricane Laura resulted in a **$41.3 million buyer deficiency fee** from Westlake, recognized as net sales in Q3 2020[50](index=50&type=chunk)[102](index=102&type=chunk) [Results of Operations](index=23&type=section&id=Results%20of%20Operations) Net income increased for both Q3 and the nine-month period, primarily due to a deficiency fee and higher contractual prices Q3 2020 vs Q3 2019 Performance | Metric | Q3 2020 | Q3 2019 | Change | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | **Net Sales** | $232.0M | $249.9M | -7.2% | Lower production volume (-34.5%) offset by higher sales price (+10.8%) and $41.3M deficiency fee | | **Gross Profit** | $100.4M | $93.2M | +7.7% | Higher earnings from Westlake due to deficiency fee, despite lower third-party sales | | **Net Income** | $91.8M | $82.5M | +11.3% | Higher gross profit and lower interest expense | | **MLP Distributable Cash Flow** | $21.2M | $20.5M | +3.4% | Higher income and lower interest expense, partially offset by increased turnaround reserves | Nine Months 2020 vs Nine Months 2019 Performance | Metric | Nine Months 2020 | Nine Months 2019 | Change | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | **Net Sales** | $721.0M | $819.1M | -12.0% | Lower production volume (-15.2%) and lower third-party prices, partially offset by $41.3M deficiency fee | | **Gross Profit** | $294.0M | $275.8M | +6.6% | Higher earnings from Westlake and the deficiency fee | | **Net Income** | $266.0M | $241.0M | +10.4% | Higher gross profit, lower SG&A, and lower interest expense | | **MLP Distributable Cash Flow** | $56.4M | $54.4M | +3.7% | Higher income and lower interest expense, partially offset by increased turnaround reserves | [Liquidity and Capital Resources](index=27&type=section&id=Liquidity%20and%20Capital%20Resources) Liquidity is primarily sourced from operations and credit facilities with Westlake, with total debt at $399.7 million - The Partnership has an at-the-market (ATM) program to sell up to **$50.0 million in common units**, but no units were issued as of September 30, 2020[132](index=132&type=chunk) - As of September 30, 2020, the Partnership had **$23.3 million in cash** and cash equivalents, plus **$191.2 million invested with Westlake**[139](index=139&type=chunk)[140](index=140&type=chunk) Outstanding Debt to Westlake (as of Sep 30, 2020) | Facility | Outstanding Amount ($ millions) | Maturity | | :--- | :--- | :--- | | **OpCo Revolver** | 22.6 | Sep 2023 | | **MLP Revolver** | 377.1 | Mar 2023 | | **Total** | **399.7** | | [Quantitative and Qualitative Disclosures about Market Risk](index=32&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) The primary market risk is interest rate exposure on its variable-rate debt, while commodity price risk is limited - Direct commodity price risk is limited to approximately **5.0% of total ethylene production** sold to third parties due to a cost-plus agreement with Westlake[151](index=151&type=chunk) - The Partnership is exposed to interest rate risk on its **$399.7 million of variable-rate debt**, with a 100 basis point increase raising annual interest expense by about **$4.0 million**[152](index=152&type=chunk) [Controls and Procedures](index=32&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective, with no material changes to internal controls - Management concluded that the company's **disclosure controls and procedures were effective** as of the end of the period covered by the report[154](index=154&type=chunk) - **No material changes** in internal control over financial reporting occurred during Q3 2020[155](index=155&type=chunk) [PART II. OTHER INFORMATION](index=32&type=section&id=PART%20II.%20OTHER%20INFORMATION) [Legal Proceedings](index=32&type=section&id=Item%201.%20Legal%20Proceedings) The Partnership is involved in an EPA enforcement initiative regarding flare emissions that may result in a monetary sanction - The EPA is conducting an enforcement action related to flares at the Calvert City and Lake Charles facilities, which may result in a **monetary sanction exceeding $100,000**[158](index=158&type=chunk) [Risk Factors](index=33&type=section&id=Item%201A.%20Risk%20Factors) The primary risk is credit exposure to Westlake, whose financial condition could be adversely affected by the COVID-19 pandemic - A key risk is the **creditworthiness of Westlake**, as the Partnership's distributions depend on Westlake meeting its contractual obligations[161](index=161&type=chunk) - The **COVID-19 pandemic poses a risk** to Westlake's business and financial condition, which could indirectly impact the Partnership[163](index=163&type=chunk)[165](index=165&type=chunk) [Exhibits](index=34&type=section&id=Item%206.%20Exhibits) This section lists standard exhibits filed with the report, including officer certifications and XBRL data files - The report includes standard exhibits such as **CEO and CFO certifications** and XBRL data files[167](index=167&type=chunk)

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 ...