8-K
Westlake Chemical Partners LP (WLKP)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (date of earliest event reported): October 30, 2025
Westlake Chemical Partners LP
(Exact name of registrant as specified in its charter)
| Delaware | 001-36567 | 32-0436529 | ||||
|---|---|---|---|---|---|---|
| (State or other jurisdiction<br>of incorporation) | (Commission File Number) | (I.R.S. Employer<br>Identification No.) | 2801 Post Oak Boulevard, | Suite 600 | 77056 | |
| --- | --- | --- | ||||
| Houston, | Texas | |||||
| (Address of principal executive offices) | (Zip Code) |
Registrant's telephone number, including area code: (713) 585-2900
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|---|---|
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
|---|---|---|
| Common units representing limited partnership interests | WLKP | The New York Stock Exchange |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ◻
Item 1.01. Entry into a Material Definitive Agreement.
On October 28, 2025, Westlake Chemical OpCo LP (“OpCo”) and Westlake Corporation (“Westlake”) agreed to renew both the Ethylene Sales Agreement and the Feedstock Supply Agreement through December 31, 2027 in accordance with their respective terms (the “Renewal”), which each provide for an initial term through December 31, 2026 and automatic 12-month renewal periods until terminated at the end of the initial term or any renewal term on not less than 12-months’ notice.
In connection with the Renewal, on October 28, 2025, OpCo and certain affiliates of Westlake entered into an amendment to the Services and Secondment Agreement to align the term of such agreement with the term of the Ethylene Sales Agreement. In addition, Westlake Chemical Partners LP (the “Partnership”), OpCo and certain affiliates of Westlake also entered into an amendment to the Omnibus Agreement to provide that the Omnibus Agreement would terminate upon termination of the Ethylene Sales Agreement. The amendment also addressed certain procedural requirements in connection with Westlake’s obligation to indemnify the Partnership for certain matters, including, among others, environmental and tax matters, under the Omnibus Agreement.
The foregoing summaries of the amendments are qualified in their entirety by reference to the full text of the amendments, copies of which are filed as Exhibits 10.2 and 10.4 to this Current Report and incorporated in this Item 1.01 by reference.
The Partnership was formed by Westlake to operate, acquire and develop ethylene production facilities and related assets. The Partnership owns an aggregate 22.8% limited partner interest in OpCo and a 100% interest in Westlake Chemical OpCo GP LLC (“OpCo GP”), which is the general partner of OpCo. The Partnership controls OpCo through its ownership of OpCo GP. Westlake retains the remaining 77.2% limited partner interest in OpCo as well as a significant interest in the Partnership through its ownership of the Partnership’s general partner, approximately 40.1% of the Partnership’s limited partner units and the Partnership’s incentive distribution rights.
Item 2.02. Results of Operations and Financial Condition.
On October 30, 2025, the Partnership issued a press release announcing its 2025 third quarter results. A copy of the press release is furnished with this Current Report as Exhibit 99.1.
Item 7.01. Regulation FD Disclosure.
The Partnership is holding a conference call on October 30, 2025 to discuss its 2025 third quarter results. Information about the call can be found in the press release furnished with this Current Report as Exhibit 99.1.
On October 30, 2025, the Partnership issued a press release and posted a slide presentation on its website to provide supplemental information regarding the Renewal. Copies of the press release and the slide presentation are furnished with this Current Report as Exhibits 99.2 and 99.3, respectively.
The information furnished pursuant to this Current Report, including Exhibits 99.1, 99.2 and 99.3, shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and will not be incorporated by reference into any filing by the Partnership under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, unless specifically identified as being incorporated therein.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| WESTLAKE CHEMICAL PARTNERS LP | |||
|---|---|---|---|
| By: Westlake Chemical Partners GP LLC | |||
| Date: | October 30, 2025 | By: | /S/ L. BENJAMIN EDERINGTON |
| Name: L. Benjamin Ederington<br>Title: Executive Vice President, Legal & External Affairs and Director |
Document
Exhibit 10.2
FIRST AMENDMENT TO SERVICES AND SECONDMENT AGREEMENT
This FIRST AMENDMENT (this "Amendment"), dated as of October 28, 2025, to the SERVICES AND SECONDMENT AGREEMENT, dated as of August 4, 2014 (the "Agreement"), is entered into by and between (a) Westlake Chemical OpCo LP, a Delaware limited partnership ("Owner"), and (b) Westlake Management Services, Inc., a Delaware corporation ("WMSI"), Westlake Vinyls, Inc., a Delaware corporation ("Vinyls"), WPT LLC, a Delaware limited liability company ("WPT"), and Westlake Petrochemicals LLC, a Delaware limited liability company ("Petrochemicals" and, together with WMSI, Vinyls and WPT, the "Westlake Parties"). Owner and the Westlake Parties are sometimes referred to herein separately as a "Party" or collectively as the "Parties".
W I T N E S S E T H:
WHEREAS, pursuant to the Agreement, (a) the Westlake Parties agreed to provide certain shared services and Seconded Employees in connection with Owner’s operation and maintenance of the Ethylene Assets and (b) Owner agreed to provide certain purge gas processing services and certain other services relating to the operation of the Westlake Facilities, in accordance with the terms of the Agreement;
WHEREAS, Section 17.5 of the Agreement provides that the Agreement may be amended only by a written agreement of all the Parties, designated on its face an "Amendment" or "Addendum" to the Agreement; and
WHEREAS, the Parties have determined to amend the Agreement to align the Initial Term with the respective terms of the Related Agreements.
NOW THEREFORE, in consideration of the foregoing and the mutual representations, warranties, covenants and agreements herein contained, and intending to be legally bound hereby, the Parties hereby agree as follows:
Article 1: GENERAL
1.1 Defined Terms. Capitalized terms not otherwise defined herein shall have the meanings set forth
therefor in the Agreement.
ARTICLE 2: AMENDMENTS OF AGREEMENT
2.1 Section 13.1 of the Agreement is hereby amended and restated in its entirety as follows:
Term. This Agreement shall commence as of the date of this Agreement and shall continue in effect until December 31, 2026 (the "Initial Term"). This Agreement will continue in effect thereafter on an annual basis (each period after the end of the Initial Term during which this Agreement remains in effect, a "Renewal Term") unless and until terminated at the end of either the Initial Term or any Renewal Term upon no less than 12 Months’ prior written notice; provided that the Term of this Agreement shall not be renewed unless and until the Ethylene Sales Agreement and Omnibus Agreement are simultaneously renewed. The Initial Term and any Renewal Term are referred to herein collectively as the "Term."
ARTICLE 3: MISCELLANEOUS
3.1 This Amendment shall be subject to and governed by the laws of the State of Texas, excluding any
conflicts-of-law rule or principle that might refer the construction or interpretation of this
Amendment to the laws of another state.
3.2 Except as hereby amended, the Agreement shall remain in full force and effect.
3.3 This Amendment, the Agreement and the Related Agreements (including any exhibits or schedules
hereto or thereto) constitute the entire agreement of the Parties relating to the matters contained
herein and therein, superseding all prior contracts or agreements, whether oral or written, relating
to the matters contained herein and therein.
3.4 This Amendment may be executed in any number of counterparts with the same effect as if all
signatory parties had signed the same document. All counterparts shall be construed together and
shall constitute one and the same instrument.
[Remainder of this page intentionally left blank]
IN WITNESS WHEREOF, each of the Parties hereto has caused this Amendment to be signed as of the date first written above.
OWNER:
WESTLAKE CHEMICAL OPCO LP
By: Westlake Chemical OpCo GP LLC,
its general partner
By: /s/ Amy E.Moore
Name: Amy E. Moore
Title: Principal Operating Officer
WESTLAKE PARTIES:
WPT LLC
By: /s/ M. Steven Bender
Name: M. Steven Bender
Title: EVP and Chief Financial Officer
WESTLAKE VINYLS, INC.
By: /s/ M. Steven Bender
Name: M. Steven Bender
Title: EVP and Chief Financial Officer
WESTLAKE PETROCHEMICALS LLC
By: /s/ M. Steven Bender
Name: M. Steven Bender
Title: EVP and Chief Financial Officer
Document
Exhibit 10.4
FIRST AMENDMENT TO OMNIBUS AGREEMENT
This FIRST AMENDMENT (this "Amendment"), dated as of October 28, 2025, to the OMNIBUS AGREEMENT, entered into on, and effective as of, the Closing Date (as defined therein) (the "Agreement"), is entered into by and among Westlake Management Services Inc., a Delaware corporation ("Westlake Services"), Westlake Chemical Partners GP LLC, a Delaware limited liability company ("GP"), Westlake Chemical Partners LP, a Delaware limited partnership (the "MLP"), Westlake Chemical OpCo GP LLC, a Delaware limited liability company ("Operating GP"), Westlake Chemical OpCo LP, a Delaware limited partnership ("OpCo"), WPT LLC, a Delaware limited liability company ("WPT"), Westlake Longview Corporation, a Delaware Corporation ("Westlake Longview"), Westlake Petrochemicals LLC, a Delaware limited liability company ("Westlake Petrochemicals"), Westlake Vinyls, Inc., a Delaware corporation ("Westlake Vinyls", and together with WPT, Westlake Longview and Westlake Petrochemicals, the "Westlake Contributors"), Westlake Styrene LLC, a Delaware limited liability company ("Westlake Styrene"), Westlake Polymers LLC, a Delaware limited liability company ("Westlake Polymers"), and Westlake Vinyl Corporation, a Delaware corporation ("Vinyl Corporation" and together with Westlake Styrene, Westlake Polymers and the Westlake Contributors, the "Westlake Complex Parties"). The above-named entities are sometimes referred to in this Agreement each as a "Party" and collectively as the "Parties."
W I T N E S S E T H:
WHEREAS, Section 9.6 of the Agreement provides that the Agreement may be amended only by a written agreement of all the Parties, designated on its face an "Amendment" or "Addendum" to the Agreement; and
WHEREAS, the Parties have determined to amend the Agreement as set forth herein.
NOW THEREFORE, in consideration of the foregoing and the mutual representations, warranties, covenants and agreements herein contained, and intending to be legally bound hereby, the Parties hereby agree as follows:
Article 1: GENERAL
1.1 Defined Terms. Capitalized terms not otherwise defined herein shall have the meanings set forth
therefor in the Agreement.
ARTICLE 2: AMENDMENTS OF AGREEMENT
2.1 Section 2.2(a) of the Agreement is hereby amended and restated in its entirety as follows:
"(a) The Westlake Parties shall indemnify, defend, and hold harmless the Partnership
Entities from and against any losses, damages, liabilities, claims, demands, causes of action,
judgments, settlements, fines, penalties, and reasonable costs and expenses (including court costs
and reasonable attorneys’ and experts’ fees) of any and every kind or character, known or
unknown, fixed or contingent, suffered or incurred by the Partnership Entities by reason of or
arising out of claims asserted by any third party with respect to (i) events and conditions
associated with the ownership or operation of the Assets and occurring before the Closing Date
(other than those losses for which the Partnership Entities are entitled to indemnification from the
Westlake Contributors under Section 2.1), (ii) all currently pending legal actions or those
threatened in writing against the Westlake Parties, (iii) events and conditions associated with the
Retained Assets whether occurring before or after the Closing Date, and (iv) all federal, state and
local income tax liabilities attributable to the operation of the Assets prior to the Closing Date,
including any such income tax liabilities of the Westlake Entities that may result from the
consummation of the formation transactions for the Partnership Entities."
2.2 Section 9.1 of the Agreement is hereby amended and restated in its entirety as follows:
"Section 9.1 Term. This Agreement shall terminate upon the termination of the Ethylene
Sales Agreement; provided that any claims for indemnification made under this Agreement within
any required time period under this Agreement prior to termination shall survive termination."
ARTICLE 3: MISCELLANEOUS
3.1 This Amendment shall be subject to and governed by the laws of the State of Texas, excluding any
conflicts-of-law rule or principle that might refer the construction or interpretation of this
Amendment to the laws of another state.
3.2 Except as hereby amended, the Agreement shall remain in full force and effect.
3.3 This Amendment, the Agreement and the Related Agreements (including any exhibits or schedules
hereto or thereto) constitute the entire agreement of the Parties relating to the matters contained
herein and therein, superseding all prior contracts or agreements, whether oral or written, relating
to the matters contained herein and therein.
3.4 This Amendment may be executed in any number of counterparts with the same effect as if all
signatory parties had signed the same document. All counterparts shall be construed together and
shall constitute one and the same instrument.
[Remainder of this page intentionally left blank]
IN WITNESS WHEREOF, each of the Parties hereto has caused this Amendment to be signed as of the date first written above.
| WESTLAKE MANAGEMENT SERVICES, INC. | ||
|---|---|---|
| By: /s/ M. Steven Bender | ||
| Name: M. Steven Bender | ||
| Title: EVP and Chief Financial Officer | ||
| WESTLAKE CHEMICAL PARTNERS GP LLC | ||
| By: /s/ Amy E. Moore | ||
| Name: Amy E. Moore | ||
| Title: VP, Olefins & Polyethylene | ||
| WESTLAKE CHEMICAL PARTNERS LP | ||
| By: Westlake Chemical Partners GP LLC, its general partner | ||
| By: /s/ Amy E. Moore | ||
| Name: Amy E. Moore | ||
| Title: VP, Olefins & Polyethylene | ||
| WESTLAKE CHEMICAL OPCO GP LLC | ||
| By: /s/ Amy E. Moore | ||
| Name: Amy E. Moore | ||
| Title: Principal Operating Officer | ||
| WESTLAKE CHEMICAL OPCO LP | ||
| By: Westlake Chemical OpCo GP LLC, its general partner | ||
| By: /s/ Amy E. Moore | ||
| Name: Amy E. Moore | ||
| Title: Principal Operating Officer | ||
| WPT LLC | ||
| By: /s/ M. Steven Bender | ||
| Name: M. Steven Bender | ||
| Title: EVP and Chief Financial Officer | ||
| WESTLAKE LONGVIEW CORPORATION | ||
| --- | ||
| By: /s/ M. Steven Bender | ||
| Name: M. Steven Bender | ||
| Title: EVP and Chief Financial Officer | ||
| WESTLAKE PETROCHEMICALS LLC | ||
| By: /s/ M. Steven Bender | ||
| Name: M. Steven Bender | ||
| Title: EVP and Chief Financial Officer | ||
| WESTLAKE VINYLS, INC. | ||
| By: /s/ M. Steven Bender | ||
| Name: M. Steven Bender | ||
| Title: EVP and Chief Financial Officer | WESTLAKE STYRENE LLC | |
| --- | ||
| By: /s/ M. Steven Bender | ||
| Name: M. Steven Bender | ||
| Title: EVP and Chief Financial Officer | ||
| WESTLAKE POLYMERS LLC | ||
| By: /s/ M. Steven Bender | ||
| Name: M. Steven Bender | ||
| Title: EVP and Chief Financial Officer | ||
| WESTLAKE VINYL CORPORATION | ||
| By: /s/ M. Steven Bender | ||
| Name: M. Steven Bender | ||
| Title: EVP and Chief Financial Officer |
Document
EXHIBIT 99.1
WESTLAKE CHEMICAL PARTNERS LP
Contact—(713) 585-2900
Investors—Steve Bender
Media—L. Benjamin Ederington
Westlake Chemical Partners LP Announces Third Quarter 2025 Results
•Renewed Ethylene Sales Agreement through 2027 at existing terms
•Declared quarterly distribution of $0.4714 per unit; 45th consecutive quarterly distribution
HOUSTON--(BUSINESS WIRE)--Westlake Chemical Partners LP (NYSE: WLKP) (the "Partnership") today reported net income attributable to the Partnership in the third quarter of 2025 of $14.7 million, or $0.42 per limited partner unit, which was below third quarter 2024 net income of $18.1 million. Cash flows from operating activities in the third quarter of 2025 were $105.2 million, a decrease of $20.9 million compared to third quarter 2024 cash flows from operating activities of $126.1 million. For the three months ended September 30, 2025, MLP distributable cash flow was $14.9 million, a decrease of $3.0 million compared to third quarter 2024 MLP distributable cash flow of $17.9 million. The decrease in MLP distributable cash flow and associated trailing twelve-month coverage ratio was primarily due to higher maintenance capital expenditures.
Third quarter 2025 net income attributable to the Partnership of $14.7 million was in line with net income attributable to the Partnership of $14.6 million in the second quarter of 2025. Third quarter 2025 cash flows from operating activities of $105.2 million increased by $96.1 million compared to second quarter 2025 cash flows from operating activities of $9.1 million due to a significant decline in cash payments related to the Petro 1 turnaround, which was completed in the second quarter of 2025. Third quarter 2025 MLP distributable cash flow of $14.9 million was in line with second quarter 2025 MLP distributable cash flow of $15.0 million.
"During the third quarter of 2025, OpCo's assets ran well and production returned to nameplate capacity levels following the completion of the planned Petro 1 turnaround in the first half of the year. While spot ethylene prices declined throughout the third quarter, there was minimal impact on the Partnership's cash flows due to the Ethylene Sales Agreement with Westlake that provides a predictable, fee-based cash flow structure with take-or-pay protections for 95% of OpCo's production," said Jean-Marc Gilson, President and Chief Executive Officer. "Given its importance to the stability and predictability of the Partnership's cash flows, we were pleased that OpCo renewed the Ethylene Sales Agreement with Westlake earlier this week with no changes to the contract's terms or conditions. We look forward to continuing our mutually-beneficial relationship with Westlake for years to come."
On October 28, 2025, the Partnership announced that the Board of Directors of Westlake Chemical Partners GP LLC had approved a quarterly distribution for the third quarter of 2025 of $0.4714 per common unit to be payable on November 26, 2025 to unitholders of record as of November 10, 2025, representing the 45th consecutive quarterly distribution to our unitholders. MLP distributable cash flow provided trailing twelve-month coverage that was 0.75x the declared distributions for the third quarter of 2025, which was below the trailing twelve-month coverage ratio of 0.79x at the end of the second quarter of 2025 due to the timing of maintenance capital expenditures. Since our IPO in July of 2014 our cumulative coverage ratio is approximately 1.05x.
OpCo's Ethylene Sales Agreement with Westlake is designed to provide for stable and predictable cash flows. The agreement provides that 95% of OpCo's ethylene production is sold to Westlake for a cash margin of $0.10 per pound, net of operating costs, maintenance capital expenditures and reserves for future turnaround expenditures.
i
The statements in this release and the related teleconference relating to matters that are not historical facts, such as those with respect to the results of future turnarounds, our expectations regarding the amount and timing of future capital expenditures, the ability to deliver value, returns, predictable cash flows and distributions to unitholders, our relationship with Westlake and the benefits of the ethylene sales agreement with Westlake, are forward-looking statements. These forward-looking statements are subject to significant risks and uncertainties. Actual results could differ materially, based on factors including, but not limited to, pandemic infectious diseases and the response thereto; operating disruptions, including delays in turnaround activities; the volume of ethylene that we are able to sell; the price at which we are able to sell ethylene; changes in the price and availability of feedstocks; changes in prevailing economic conditions; actions and commitments of Westlake, including the renewal or renegotiation of, or determinations made pursuant to, our contractual arrangements with Westlake; actions of third parties; inclement or hazardous weather conditions, including flooding, and the physical impacts of climate change; environmental hazards; changes in laws and regulations (or the interpretation thereof); inability to acquire or maintain necessary permits; inability to obtain necessary production equipment or replacement parts; technical difficulties or failures; labor disputes; difficulty collecting receivables; inability of our customers to take delivery; fires, explosions or other industrial accidents; our ability to borrow funds and access capital markets; and other factors. For more detailed information about the factors that could cause actual results to differ materially, please refer to the Partnership's Annual Report on Form 10-K for the year ended December 31, 2024, which was filed with the SEC in March 2025, and the Partnership's Quarterly Report on Form 10-Q for the quarter ended June 30, 2025, which was filed with the SEC in August 2025.
This release is intended to be a qualified notice under Treasury Regulation Section 1.1446-4(b). Brokers and nominees should treat one hundred percent (100.0%) of the Partnership's distributions to non-U.S. investors as being attributable to income that is effectively connected with a United States trade or business. Accordingly, the Partnership's distributions to non-U.S. investors are subject to federal income tax withholding at the highest applicable effective tax rate.
Use of Non-GAAP Financial Measures
This release makes reference to certain "non-GAAP" financial measures, such as MLP distributable cash flow, coverage ratio and EBITDA. For this purpose, a non-GAAP financial measure is generally defined by the Securities and Exchange Commission ("SEC") as a numerical measure of a registrant's historical or future financial performance, financial position or cash flows that (1) excludes amounts, or is subject to adjustments that have the effect of excluding amounts, that are included in the most directly comparable measure calculated and presented in accordance with U.S. generally accepted accounting principles ("U.S. GAAP") in the statement of operations, balance sheet or statement of cash flows (or equivalent statements) of the registrant; or (2) includes amounts, or is subject to adjustments that have the effect of including amounts, that are excluded from the most directly comparable measure so calculated and presented. We report our financial results in accordance with U.S. GAAP, but believe that certain non-GAAP financial measures, such as MLP distributable cash flow, coverage ratio and EBITDA, provide useful supplemental information to investors regarding the underlying business trends and performance of our ongoing operations and are useful for period-over-period comparisons of such operations. These non-GAAP financial measures should be considered as a supplement to, and not as a substitute for, or superior to, the financial measures prepared in accordance with U.S. GAAP. We define MLP distributable cash flow as distributable cash flow less distributable cash flow attributable to Westlake Corporation's noncontrolling interest in OpCo and distributions attributable to the incentive distribution rights holder. MLP distributable cash flow does not reflect changes in working capital balances. We define EBITDA as net income before interest expense, income taxes, depreciation and amortization. MLP distributable cash flow, coverage ratio and EBITDA are non-GAAP supplemental financial measures that management and external users of our consolidated financial statements, such as industry analysts, investors, lenders and rating agencies, may use to assess our operating performance as compared to other publicly traded partnerships, our ability to incur and service debt and fund capital expenditures and the viability of acquisitions and other capital expenditure projects and the returns on investment of various investment opportunities. Reconciliations of MLP distributable cash flow to net income and to net cash provided by operating activities and of EBITDA to net income, income from operations and net cash provided by operating activities can be found in the financial schedules at the end of this press release.
Westlake Chemical Partners LP
Westlake Chemical Partners is a limited partnership formed by Westlake Corporation to operate, acquire and develop ethylene production facilities and other qualified assets. Headquartered in Houston, the Partnership owns a 22.8% interest in Westlake Chemical OpCo LP. Westlake Chemical OpCo LP's assets consist of three ethylene production facilities in Calvert City, Kentucky, and Lake Charles, Louisiana, and an ethylene pipeline. For more information about Westlake Chemical Partners LP, please visit http://www.wlkpartners.com.
ii
Westlake Chemical Partners LP Conference Call Information:
A conference call to discuss Westlake Chemical Partners' third quarter 2025 results will be held Thursday, October 30th 2025 at 1:00 PM Eastern Time (12:00 PM Central Time). To access the conference call, please register at: https://register-conf.media-server.com/register/BI18a27e98796e4538920bcc251d12d94a. A dial-in will be provided upon registration.
The conference call will also be available via webcast at: https://edge.media-server.com/mmc/p/zo2bvgiu and the earnings release can be obtained via the Partnership web page at: https://investors.wlkpartners.com/corporate-profile/default.aspx.
iii
WESTLAKE CHEMICAL PARTNERS LP ("WESTLAKE PARTNERS")
CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
| Three Months Ended September 30, | Nine Months Ended September 30, | |||||||
|---|---|---|---|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |||||
| (In thousands of dollars, except per unit data) | ||||||||
| Revenue | ||||||||
| Net sales—Westlake Corporation ("Westlake") | $ | 276,539 | $ | 215,799 | $ | 736,396 | $ | 690,535 |
| Net co-products, ethylene and other sales—third parties | 32,359 | 61,196 | 107,250 | 155,301 | ||||
| Total net sales | 308,898 | 276,995 | 843,646 | 845,836 | ||||
| Cost of sales | 209,475 | 160,052 | 592,610 | 525,481 | ||||
| Gross profit | 99,423 | 116,943 | 251,036 | 320,355 | ||||
| Selling, general and administrative expenses | 7,444 | 7,254 | 21,218 | 21,936 | ||||
| Income from operations | 91,979 | 109,689 | 229,818 | 298,419 | ||||
| Other income (expense) | ||||||||
| Interest expense—Westlake | (5,947) | (6,698) | (17,391) | (19,930) | ||||
| Other income, net | 224 | 1,325 | 2,245 | 3,916 | ||||
| Income before income taxes | 86,256 | 104,316 | 214,672 | 282,405 | ||||
| Provision for income taxes | 42 | 216 | 354 | 633 | ||||
| Net income | 86,214 | 104,100 | 214,318 | 281,772 | ||||
| Less: Net income attributable to noncontrolling interest in Westlake Chemical OpCo LP ("OpCo") | 71,561 | 85,964 | 180,159 | 234,376 | ||||
| Net income attributable to Westlake Partners | $ | 14,653 | $ | 18,136 | $ | 34,159 | $ | 47,396 |
| Net income per limited partner unit attributable to Westlake Partners (basic and diluted) | ||||||||
| Common units | $ | 0.42 | $ | 0.51 | $ | 0.97 | $ | 1.35 |
| Distributions declared per unit | $ | 0.4714 | $ | 0.4714 | $ | 1.4142 | $ | 1.4142 |
| MLP distributable cash flow | $ | 14,886 | $ | 17,879 | $ | 34,607 | $ | 51,906 |
| Distributions declared | ||||||||
| Limited partner units—publicly and privately held | $ | 9,958 | $ | 9,954 | $ | 29,867 | $ | 29,855 |
| Limited partner units—Westlake | 6,657 | 6,657 | 19,971 | 19,971 | ||||
| Total distributions declared | $ | 16,615 | $ | 16,611 | $ | 49,838 | $ | 49,826 |
| EBITDA | $ | 126,075 | $ | 139,126 | $ | 325,487 | $ | 386,756 |
iv
WESTLAKE CHEMICAL PARTNERS LP
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
| September 30,<br>2025 | December 31,<br>2024 | |||
|---|---|---|---|---|
| (In thousands of dollars) | ||||
| ASSETS | ||||
| Current assets | ||||
| Cash and cash equivalents | $ | 37,936 | $ | 58,316 |
| Receivable under the Investment Management Agreement—Westlake | 13,396 | 134,557 | ||
| Accounts receivable, net—Westlake | 59,665 | 31,975 | ||
| Accounts receivable, net—third parties | 16,141 | 11,576 | ||
| Inventories | 3,078 | 4,058 | ||
| Prepaid expenses and other current assets | 641 | 444 | ||
| Total current assets | 130,857 | 240,926 | ||
| Property, plant and equipment, net | 902,813 | 903,588 | ||
| Other assets, net | 237,943 | 143,442 | ||
| Total assets | $ | 1,271,613 | $ | 1,287,956 |
| LIABILITIES AND EQUITY | ||||
| Current liabilities (accounts payable and accrued and other liabilities) | $ | 55,126 | $ | 55,372 |
| Long-term debt payable to Westlake | 399,674 | 399,674 | ||
| Other liabilities | 3,502 | 3,596 | ||
| Total liabilities | 458,302 | 458,642 | ||
| Common unitholders—publicly and privately held | 462,093 | 471,328 | ||
| Common unitholder—Westlake | 41,091 | 47,373 | ||
| General partner—Westlake | (242,572) | (242,572) | ||
| Total Westlake Partners partners' capital | 260,612 | 276,129 | ||
| Noncontrolling interest in OpCo | 552,699 | 553,185 | ||
| Total equity | 813,311 | 829,314 | ||
| Total liabilities and equity | $ | 1,271,613 | $ | 1,287,956 |
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WESTLAKE CHEMICAL PARTNERS LP
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
| Nine Months Ended September 30, | ||||
|---|---|---|---|---|
| 2025 | 2024 | |||
| (In thousands of dollars) | ||||
| Cash flows from operating activities | ||||
| Net income | $ | 214,318 | $ | 281,772 |
| Adjustments to reconcile net income to net cash provided by operating activities | ||||
| Depreciation and amortization | 93,424 | 84,421 | ||
| Net loss on disposition and other | 2,371 | 2,227 | ||
| Other balance sheet changes | (150,023) | (15,888) | ||
| Net cash provided by operating activities | 160,090 | 352,532 | ||
| Cash flows from investing activities | ||||
| Additions to property, plant and equipment | (69,988) | (35,497) | ||
| Investments with Westlake under the Investment Management Agreement | — | (15,000) | ||
| Maturities of investments with Westlake under the Investment Management Agreement | 120,000 | — | ||
| Net cash provided by (used for) investing activities | 50,012 | (50,497) | ||
| Cash flows from financing activities | ||||
| Proceeds from debt payable to Westlake | 135,000 | 163,000 | ||
| Repayment of debt payable to Westlake | (135,000) | (163,000) | ||
| Distributions to noncontrolling interest retained in OpCo by Westlake | (180,645) | (250,622) | ||
| Distributions to unitholders | (49,837) | (49,824) | ||
| Net cash used for financing activities | (230,482) | (300,446) | ||
| Net increase (decrease) in cash and cash equivalents | (20,380) | 1,589 | ||
| Cash and cash equivalents at beginning of period | 58,316 | 58,619 | ||
| Cash and cash equivalents at end of period | $ | 37,936 | $ | 60,208 |
vi
WESTLAKE CHEMICAL PARTNERS LP
RECONCILIATION OF MLP DISTRIBUTABLE CASH FLOW TO NET INCOME
AND NET CASH PROVIDED BY OPERATING ACTIVITIES
(Unaudited)
| Three Months Ended June 30, | Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | 2025 | 2024 | 2025 | 2024 | ||||||
| (In thousands of dollars) | ||||||||||
| Net cash provided by operating activities | $ | 9,071 | $ | 105,238 | $ | 126,071 | $ | 160,090 | $ | 352,532 |
| Changes in operating assets and liabilities and other | 76,724 | (19,024) | (21,971) | 54,228 | (70,760) | |||||
| Net income | 85,795 | 86,214 | 104,100 | 214,318 | 281,772 | |||||
| Add: | ||||||||||
| Depreciation, amortization and disposition of property, plant and equipment | 32,872 | 35,660 | 28,528 | 95,703 | 86,662 | |||||
| Less: | ||||||||||
| Contribution to turnaround reserves | (10,396) | (10,486) | (11,903) | (28,504) | (32,051) | |||||
| Maintenance capital expenditures | (20,506) | (24,150) | (17,753) | (65,233) | (34,808) | |||||
| Distributable cash flow attributable to noncontrolling interest in OpCo | (72,758) | (72,352) | (85,093) | (181,677) | (249,669) | |||||
| MLP distributable cash flow | $ | 15,007 | $ | 14,886 | $ | 17,879 | $ | 34,607 | $ | 51,906 |
vii
WESTLAKE CHEMICAL PARTNERS LP
RECONCILIATION OF EBITDA TO NET INCOME, INCOME FROM OPERATIONS AND NET CASH
PROVIDED BY OPERATING ACTIVITIES
(Unaudited)
| Three Months Ended June 30, | Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | 2025 | 2024 | 2025 | 2024 | ||||||
| (In thousands of dollars) | ||||||||||
| Net cash provided by operating activities | $ | 9,071 | $ | 105,238 | $ | 126,071 | $ | 160,090 | $ | 352,532 |
| Changes in operating assets and liabilities and other | 76,724 | (19,024) | (21,971) | 54,228 | (70,760) | |||||
| Net income | 85,795 | 86,214 | 104,100 | 214,318 | 281,772 | |||||
| Less: | ||||||||||
| Other income, net | 675 | 224 | 1,325 | 2,245 | 3,916 | |||||
| Interest expense—Westlake | (5,907) | (5,947) | (6,698) | (17,391) | (19,930) | |||||
| Provision for income taxes | (205) | (42) | (216) | (354) | (633) | |||||
| Income from operations | 91,232 | 91,979 | 109,689 | 229,818 | 298,419 | |||||
| Add: | ||||||||||
| Depreciation and amortization | 32,484 | 33,872 | 28,112 | 93,424 | 84,421 | |||||
| Other income, net | 675 | 224 | 1,325 | 2,245 | 3,916 | |||||
| EBITDA | $ | 124,391 | $ | 126,075 | $ | 139,126 | $ | 325,487 | $ | 386,756 |
viii
Document
EXHIBIT 99.2
Westlake Chemical Partners Announces Renewal of Ethylene Sales Agreement
HOUSTON, Oct. 30, 2025 – Westlake Chemical Partners LP (NYSE: WLKP) (the “Partnership”) announced that Westlake Chemical OpCo LP (“OpCo”) and Westlake Corporation (“Westlake”) agreed to renew the Ethylene Sales Agreement between the parties through December 31, 2027 in accordance with its terms, which provides for an initial term through December 31, 2026 and automatic 12-month renewal periods until terminated at the end of the initial term or any renewal term on not less than 12-months’ notice.
The renewal of the Ethylene Sales Agreement will facilitate continued offtake on attractive terms for 95% of the ethylene produced by OpCo. The renewed agreement maintains the same pricing formula and sales volume protections that have provided the Partnership with the distributable cash flow to make 45 consecutive quarterly distributions to unitholders, without any decreases, since its initial public offering in 2014.
In connection with the renewal of the Ethylene Sales Agreement, OpCo and certain affiliates of Westlake entered into an amendment to the Services and Secondment Agreement to align the term of such agreement with the term of the Ethylene Sales Agreement. In addition, the Partnership, OpCo and certain affiliates of Westlake also entered into an amendment to the Omnibus Agreement to provide that the Omnibus Agreement would terminate upon termination of the Ethylene Sales Agreement. The amendment also addressed certain procedural requirements in connection with Westlake’s obligation to indemnify the Partnership for certain matters, including, among others, environmental and tax matters, under the Omnibus Agreement.
About Westlake Chemical Partners LP
Westlake Chemical Partners is a limited partnership formed by Westlake Corporation to operate, acquire and develop ethylene production facilities and other qualified assets. Headquartered in Houston, the Partnership owns a 22.8% interest in Westlake Chemical OpCo LP. Westlake Chemical OpCo LP's assets consist of three ethylene production facilities in Calvert City, Kentucky, and Lake Charles, Louisiana, and an ethylene pipeline. For more information about Westlake Chemical Partners LP, please visit http://www.wlkpartners.com.
Contacts:
Media Relations – Ben Ederington – 713.585.2900
Investor Relations – Steve Bender – 713.585.2900
exhibit993
Ethylene Sales Agreement Renewal
2 The Stability of Westlake Chemical Partners’ (WLKP) Distributable Cash Flow is Supported By The Ethylene Sales Agreement (ESA) WLKP IS THE CRITICAL SUPPLIER OF ETHYLENE FOR WESTLAKE CORPORATION (WLK) • Ethylene Sales Agreement between OpCo and WLK provides stable 10 cents per pound margin on 95% of processed NGLs, with remaining 5% sold to third parties • Ethylene Sales Agreement provides partnership with steady cash flows that are insulated from commodity risks and covers maintenance and turnaround expenditures Pricing Formula Promotes Stable and Predictable Cash Flows Price Feedstock Cost Operating Costs (Including SG&A) Maintenance & Turnaround Costs Co-Product Credits $0.10/Pound Margin
3 Ethylene Sales Agreement Insulates WLKP from Commodity Risk and Provides Enhanced Cash Flow Stability • Integrated margin is well above $0.10 historically, as shown in the chart below, supporting margin sustainability and potential to increase margin through negotiation • Requires WLK to purchase 95% of OpCo’s planned ethylene volume each year, with maximum commitment of 3.8 billion pounds per year • Contract structure commitment promotes stable margin and consistent distributable cash flows Source: Chemical Market Analytics -10 0 10 20 30 40 50 60 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 In te gr at ed M ar g in ( C en ts / P o un d) Ethylene Margin PE Non-Integrated Margin OpCo Margin INDUSTRY INTEGRATED MARGINS | ETHYLENE AND POLYETHYLENE
4 OpCo and WLK Agree to Renew The ESA Through 2027 THE ESA IS A CRITICAL DRIVER OF STABLE, CONSISTENT DISTRIBUTABLE CASH FLOW FOR WLKP • OpCo and WLK have agreed to renew the ESA, as the original contract provided for, through the end of 2027, providing continued offtake on attractive terms for 95% of the ethylene produced by OpCo • The ESA renewal maintains the same pricing formula and sales volume protections that have provided WLKP with the distributable cash flow to make 45 consecutive quarterly distributions to unitholders since its IPO • The renewal of the ESA through the end of 2027 provides increased visibility and confidence in the stability of WLKP’s distributable cash flow and coverage ratio • The ESA continues to provide for automatic renewal annually with existing terms and conditions • WLK’s decision to renew the ESA under the same terms that have been in place since its origination demonstrates the critical nature of OpCo’s supply of ethylene to their operations and their commitment to support OpCo’s continued safe, reliable operations through stable, predictable cash flows The ESA Renewal Demonstrates That WLK Continues To Value And Support Its Relationship With WLKP
5 Westlake Chemical Partners LP (WLKP) At-a-Glance WLKP OVERVIEW • Limited partnership formed by Westlake Corporation (WLK) to operate, acquire, and develop ethylene production facilities and related assets • Critical supplier of ethylene that WLK needs to produce its products • Predictable and consistent cash flows with conservative financial structure and substantial runway for growth – Increased earnings and distribution growth potential: capacity expansions, IDR reset, significant remaining drop-down capacity at OpCo, and opportunity to acquire an interest in Lotte / WLK JV cracker – DCF coverage ratio target of 1.1x provides significant flexibility to fund future growth • Ethylene Sales Agreement with WLK provides stable margin, protects against commodity risks • WLKP is well-capitalized with significant financial flexibility OWNERSHIP STRUCTURE NYSE: WLKP NYSE: WLK 59.9% Ownership Investors Investors Westlake OpCo LP 40.1% Ownership 22.8% Ownership 77.2% Ownership
6 Compelling Investment Opportunity ► 95% of sales at fixed margin to investment-grade parent, WLK, insulates WLKP from commodity risks ► Conservative financial and leverage metrics Stable, Predictable Cash Flows and Strong Balance Sheet ► Globally cost advantaged feedstock with operating rates that exceed North American industry averages Long History of Predictable Operation from Strategically Located Assets ► Q3 2018 IDR reset with no compensation paid illustrates parent company commitment to WLKP Excellent Governance and Strategic Alignment with Investment-Grade Parent, WLK ► Negotiate higher ethylene margin • acquisition opportunities • periodic drop downs from OpCo • expansion opportunities Four Levers of Continued Growth
7 OpCo Supplies Vital Ethylene to WLK LAKE CHARLES, LOUISIANA • Two ethane-based processing facilities at WLK’s complex • Combined ethylene capacity of 3 billion pounds – Primarily consumed by WLK for chemical production, including polyethylene and PVC CALVERT CITY, KENTUCKY • One ethane-based processing facility • Ethylene capacity of 730 million pounds per year – Primarily consumed by WLK to produce higher value-added chemicals, including PVC LONGVIEW, TEXAS • 200-mile common carrier ethylene pipeline in Texas – Runs from Mont Belvieu, Texas to Longview chemical complex, which includes WLK’s Longview polyethylene production facility WLK Depends on OpCo to Supply the Ethylene Used to Produce All Its Key End Products
8 WLK’s Short Position in Ethylene Provides Strong and Contractual Demand for WLKP Westlake Corp is Still Short ~ 1.2B Pounds of Ethylene and Needs all the Supply WLKP can Provide Additional Ethylene via LACC JV Eligible for WLKP ~1.1 Billion Pounds Chlorine Caustic Soda Epoxy Intermediates Polyethylene Styrene Chlorinated Products Epoxy Olefins Vinyls Chlorinated Products Epoxy Legend Vinyl and Building Products 3.7 Billion Pounds of Ethylene Provided to Westlake Corp via Long Term Take or Pay Contract
9 WLKP’s Contractual Structure with WLK Enables Stable Cash Flows and Distributions Through Challenging Market Conditions • Strong, stable, and predictable cash flow from selling 95% of its product at fixed margin to investment-grade parent, WLK, is a significant differentiator – Enabled WLKP to grow or maintain distributions to unitholders every quarter since IPO – Allowed WLKP to build cash and avoid financing needs by holding distribution steady • Consistent distribution places WLKP among top MLPs, with many other MLPs reducing distributions over past several years • WLKP maintained its distribution for Q3 2025 at prior quarter level of $0.4714 to build cash and not create any capital market needs Committed Contractual Structure with WLK Gives WLKP Financial Stability to Drive Consistent Cash Distributions to Unitholders WLKP DISTRIBUTIONS SINCE INCEPTION $0.00 $0.20 $0.40 $0.60 $0.80 $1.00 $1.20 $1.40 $1.60 $1.80 $2.00 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
10 $0 $10 $20 $30 $40 $50 $60 $70 $80 $90 $100 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Distributable Cash Flow Operating Cash Surplus Strong Distributable Cash Flows from Ethylene Sales Contract with WLK ANNUAL DISTRIBUTABLE CASH FLOWS & CASH SURPLUS SINCE IPO • Higher, steady production rates enable dependable, stable financials and ultimately lead to stable, growing distributable cash flows to unitholders • Conservative leverage and financial flexibility – Maintain conservative target leverage ratios at WLKP and OpCo – Substantial liquidity via $600M credit facility between WLK and OpCo – Minimal working capital requirements both at OpCo and WLKP • WLK’s essential need for vital Ethylene ensures consistent distributable cash flows • Strong operating cash surplus provides even more stability • Contractual commitment with WLK provides solid cash flows and dependable distributions despite hurricanes, freezes, turnarounds, expansions, and other outages
11 Four Levers of Growth for Stable, Growing Cash Flows Increase ownership interest in OpCo over time by purchasing new OpCo interests or purchasing outstanding interests in OpCo from WLK • Purchased 2.7% of OpCo for $135M in May 2015 • Purchased 5.0% of additional OpCo interests for $229M in September 2017 • Purchased 4.5% of additional OpCo interests for $201M in March 2019 • Substantial drop drown capacity and reset IDR tiers extend runway of future drop downs: – +77% of drop-down inventory remains – Remaining drop down inventory supports many years of future distribution growth Increase Ownership of OpCo Enhance profitability of OpCo’s existing assets by pursuing growth opportunities, including capacity expansion • Expanded Petro1 by approximately 250M pounds of ethylene in 2016 • Expanded Calvert City by approximately 100M pounds of ethylene in 2017 Pursue Organic Growth Opportunities Pursue acquisitions of complementary assets from WLK and third parties: • In joint venture with Lotte Chemical, WLK built new 2.2B pound ethylene cracker that started up in Q2 2019, would be a target for inclusion in WLKP Grow via Acquisitions Negotiate higher ethylene margin above current 10 cents with WLKExpand Margin
12 Solid Leverage Metrics | Well-Capitalized with Strong Balance Sheet to Provide Financial Stability 1) Includes cash invested with WLK under investment management agreement 2) Peers: EQM, MPLX, PSXP, WES, as of latest date information is available in Bloomberg 0% 20% 40% 60% 80% WLKP B D C A 0.0x 2.0x 4.0x 6.0x 8.0x 10.0x 12.0x 14.0x 16.0x 18.0x WLKP A B C D NET DEBT / CAPITALIZATION NET DEBT / TTM EBITDA WLKP has significant financial flexibility to fund future growth with strong and supportive parent, WLK September 30, 2025Liquidity (in millions) $51Cash and Equivalents (1) $800Plus: Available Credit Facilities $851Total Available Liquidity
13 Sustainable Commitments Embedded Across Westlake Through Investments, Goals, and Products Reducing Scope 1 and 2 Emissions per Tons of Production by 20% by 20301 • To further reduce our carbon footprint, we are allocating capital to both proven and emerging technologies, including product and operational innovations – Energy-efficiency projects – Increasing use of less carbon- intensive energy providers – Adding more hydrogen as fuel gas – Other continuous operational improvements • Leading practice alignments Expanding Portfolio of Environmentally Safe Products • Incorporating recycled and bio-derived materials while maintaining product quality Efforts Recognized Through Awards and Industry Memberships • Rewards from EcoVadis, the leading provider of business sustainability ratings https://wlkpartners.com/content/sustainability 1) From a 2016 baseline Pivotal (One Pellet Solution) Efficient polyethylene solution that incorporates post-consumer resin (PCR) and maintains strength of plastic materials Epoxy Used in coatings and composites to fabricate wind turbine blades and light-weight aerospace and automotive components Molecular-Oriented (PVC-O) Pipe Engineering solution for lighter-weight, more durable PVC pipe; manufactured with lower-carbon footprint than any other water main pipe materials; used in housing and infrastructure Vinnolit WLK Epoxy • Selected solution-oriented industry memberships
14 Key Investment Drivers WLKP is Well-Positioned to Continue Delivering Value to Unitholders ► Experienced and incentivized management team ► Strategically located assets ► Stable, predictable cash flows not encumbered by IDRs ► Strategic relationship with WLK ► WLK’s increasing demand for ethylene ► Access to operational and industry expertise ► Competitive market position and asset integrity, with a commitment to social responsibility ► Ethylene sales agreement, plus IDR reset ► Expanded capacity and significant dropdown inventory ► Global cost advantage for ethylene production
Appendix
16 Commitment to the Environment Through Both Company Action and Dedicated Industry Organizations PARTICIPATING IN MULTI-INDUSTRY ASSOCIATIONS FOR ENVIRONMENTAL PROTECTION Westlake is a proud partner with the following organizations to drive sustainable action to eliminate plastic waste, capture more flexible food packaging waste for recycling, and support the sustainable impact vinyl has in the world, along with many other initiatives Westlake Associations and Alliances WLKP Sustainability Report https://wlkpartners.com/content/sustainability
17 Disclaimer This presentation contains certain forward-looking statements, including statements with respect to the ability to resume distribution growth, potential levers for growth, remaining drop-down opportunities, potential increases in margin, avoiding the creation of any capital market needs, accretive M&A as a source of future drop down opportunities for Westlake Chemical Partners and demand for the ethylene we produce. Actual results may differ materially depending on factors such as general economic and business conditions; the cyclical nature of the chemical industry; the availability, cost and volatility of raw materials and energy; uncertainties associated with the United States, Europe and worldwide economies, including those due to political tensions in the Middle East, Ukraine and elsewhere; current and potential governmental regulatory actions in the United States and Europe and regulatory actions and political unrest in other countries; industry production capacity and operating rates; the supply/ demand balance for our products; competitive products and pricing pressures; instability in the credit and financial markets; access to capital markets; terrorist acts; operating interruptions (including leaks, explosions, fires, weather-related incidents, mechanical failure, unscheduled downtime, labor difficulties, transportation interruptions, spills and releases and other environmental risks); changes in laws or regulations; technological developments; our ability to implement our business strategies; creditworthiness of our customers; the results of potential negotiations between Westlake Corporation and Westlake Chemical Partners, world health events, such as the COVID-19 pandemic, and other factors described in our reports filed with the Securities and Exchange Commission. Many of these factors are beyond our ability to control or predict. Any of these factors, or a combination of these factors, could materially affect our future results of operations and the ultimate accuracy of the forward-looking statements. These forward-looking statements are not guarantees of our future performance, and our actual results and future developments may differ materially from those projected in the forward looking statements. Management cautions against putting undue reliance on forward- looking statements. Every forward-looking statement speaks only as of the date of the particular statement, and we undertake no obligation to publicly update or revise any forward-looking statements. Investor Relations Contacts Westlake Chemical Partners LP 2801 Post Oak Boulevard, Suite 600 Houston, Texas 77056 (713) 960-9111 Steve Bender Executive Vice President & Chief Financial Officer Jeff Holy Vice President & Chief Accounting Officer