Westlake Chemical Corporation Reports First Quarter 2020 Results

Net income of $1.13 per diluted share, or $145 million, for the first quarter of 2020 Cash and cash equivalents of $1.54 billion EBITDA of $337 million for the first quarter of 2020 May 4, 2020- Westlake Chemical Corporation (NYSE: WLK) (the "Company" or "Westlake") today reported net income attributable to Westlake for the three months ended March 31, 2020 of $145 million, or $1.13 per diluted share, on net sales of $1,932 million. Net income in the first quarter of 2020 increased by $73 million compared to first quarter 2019 net income of $72 million, or $0.55 per diluted share, on net sales of $2,025 million. The increase in net income was primarily due to the income tax rate benefit of $62 million, or $0.48 per diluted share, resulting from the carryback of federal net operating losses, as permitted under the CARES Act enacted in March 2020. Income from operations of $136 million for the first quarter of 2020 increased by $2 million from income from operations of $134 million for

Westlake Chemical Partners LP Announces First Quarter 2020 Results

Maintained quarterly distribution of $0.4714 per unit May 4, 2020- Westlake Chemical Partners LP (NYSE: WLKP) (the "Partnership") today reported net income attributable to the Partnership of $17.7 million, or $0.50 per limited partner unit, for the three months ended March 31, 2020, an increase of $2.7 million compared to first quarter 2019 net income attributable to the Partnership of $15.0 million. The increase in net income attributable to the Partnership was primarily due to the increased production at Westlake Chemical OpCo LP ("OpCo") and higher third party sales margins. Cash flows from operating activities in the first quarter of 2020 were $111.0 million, a decrease of $2.5 million compared to first quarter 2019 cash flows from operating activities of $113.5 million. This decrease in cash flows from operating activities was primarily attributable to an increase in working capital. For the three months ended March 31, 2020, MLP distributable cash flow of $18.3 million increased

Kimberly Lubel Elected to Westlake Chemical Corporation Board of Directors

May 15, 2020- Westlake Chemical Corporation (NYSE: WLK) today announced that Ms. Kimberly S. Lubel has been elected to serve on the company’s board of directors as a new member. Ms. Lubel was elected to serve a three-year term at the company’s Annual Meeting of Stockholders, held today. Ms. Lubel is the former chairman, president and chief executive officer of CST Brands, Inc., and a former senior executive of Valero Energy Corporation. Additionally, the corporation announced that Mr. Max L. Lukens, who has served on the board for 16 years, has retired effective today. As previously disclosed, Mr. Lukens had decided not to stand for re-election and to retire upon the completion of his term at today’s Annual Meeting. In March 2020, Mr. Lukens also retired from the board of directors of Westlake Chemical Partners GP LLC, the general partner of the affiliated master limited partnership, Westlake Chemical Partners LP, when Mr. G. Stephen Finley was appointed as his replacement. “We are

Westlake Chemical Corporation Declares Quarterly Dividend

$0.2625 cents per share dividend declared payable on June 9, 2020 May 15, 2020- The Board of Directors of Westlake Chemical Corporation (NYSE:WLK) declared today a regular dividend distribution of $0.2625 per share for the first quarter of 2020. This dividend will be payable on June 9, 2020, to stockholders of record on May 26, 2020. This is the 63rd successive quarterly dividend that Westlake has declared since completing its initial public offering in August 2004. About Westlake Chemical Corporation Westlake is a global manufacturer and supplier of materials and innovative products that enhance life every day. Headquartered in Houston, we provide the building blocks for vital solutions — from packaging and healthcare products to automotive and consumer goods, to building and construction products. For more information, visit the company's web site at www.westlake.com . View source version on businesswire.com: https://www.businesswire.com/news/home/20200515005554/en/ Media Inquiries:

Westlake Announces Proposed Offering of Senior Notes

Jun. 9, 2020- Westlake Chemical Corporation (NYSE: WLK) (“Westlake”) announced today the commencement of an underwritten public offering, subject to market and other conditions, of senior unsecured notes (the “Notes”) under its existing shelf registration statement. The timing of pricing and terms of the Notes are subject to market conditions and other factors. Westlake intends to use a portion of the net proceeds from the proposed public offering of the Notes to fund the purchase in lieu of redemption later this year of three series of tax-exempt revenue bonds (the “Revenue Bonds”) issued by the Louisiana Local Government Environmental Facilities and Community Development Authority (the “Authority”) on behalf of Westlake with an aggregate principal amount of $254,000,000, and, as a result thereof, cancel and retire all $100,000,000 of Westlake’s 6 1/2% Senior Notes due August 1, 2029 (the “2029 Notes”) and all $154,000,000 of Westlake’s 6 1/2% Senior Notes due November 1, 2035 (the

Westlake Announces Pricing of Offering of Senior Notes

Jun. 9, 2020- Westlake Chemical Corporation (NYSE: WLK) (“Westlake”) announced today that it has priced its previously announced underwritten public offering of $300,000,000 aggregate principal amount of senior unsecured notes due 2030 (the “Notes”) under its existing shelf registration statement. The Notes will bear interest at a rate of 3.375% per annum and will mature on June 15, 2030. The sale of the Notes is scheduled to close on June 12, 2020, subject to the satisfaction of customary closing conditions. Westlake intends to use a portion of the net proceeds from the proposed public offering of the Notes to fund the purchase in lieu of redemption later this year of three series of tax-exempt revenue bonds (the “Revenue Bonds”) issued by the Louisiana Local Government Environmental Facilities and Community Development Authority (the “Authority”) on behalf of Westlake with an aggregate principal amount of $254,000,000, and, as a result thereof, cancel and retire all $100,000,000 of

Westlake Directs Redemption of $100 Million of Series 2009A GO Zone Revenue Bonds

Jun. 25, 2020- Westlake Chemical Corporation (NYSE:WLK) announced today that it has directed the Louisiana Local Governmental Environmental Facilities and Community Development Authority (the “Authority”) to optionally redeem in full $100 million aggregate principal amount of the Authority’s Revenue Bonds (Westlake Chemical Corporation Projects), Series 2009A (the “GO Zone Bonds”) on August 1, 2020 at a redemption price of par, plus accrued and unpaid interest, if any, to the redemption date. The GO Zone Bonds mature on August 1, 2029 and were issued by the Authority in August 2009 and reoffered in July 2010 under the Gulf Opportunity Zone Act of 2005 (GO Zone Act) for the benefit of Westlake. Westlake expects to purchase the GO Zone Bonds in lieu of redemption and in connection therewith, to cancel and retire $100 million aggregate principal amount of Westlake’s 6.50% Senior Notes due 2029 (the “6.50% 2029 Senior Notes”) that were issued and are held by the trustee of the GO Zone

Westlake Chemical Corporation Issues Statement Regarding European Commission Investigation

Jul. 14, 2020- Westlake Chemical Corporation (NYSE: WLK) today confirmed that one of its subsidiaries has been named in a European Commission decision regarding certain anti-competitive practices in the purchasing of ethylene that occurred prior to 2017. The practices were uncovered as a result of Westlake’s internal compliance program. Westlake voluntarily disclosed these practices to the European Commission and fully cooperated with the related investigation. Based on the company’s voluntary notification and cooperation, the European Commission granted Westlake immunity from government fines. Westlake is committed to fair and open competition. Westlake’s policies prohibit its employees from engaging in anti-competitive practices or other illegal or unethical behavior. About Westlake Westlake is a global manufacturer and supplier of materials and innovative products that enhance life every day. Headquartered in Houston, we provide the building blocks for vital solutions — from

Westlake Chemical Partners Announce Second Quarter 2020 Conference Call

Jul. 23, 2020- Westlake Chemical Partners (NYSE: WLKP) will release its 2020 second quarter earnings prior to the market opening on Thursday, August 6, 2020. The company will host a conference call at 12:00 p.m. Eastern Time (11:00 a.m. Central Time) on the same day to discuss the earnings release. To access the conference call, dial (855) 765-5686, or (234) 386-2848 for international callers, approximately 10 minutes prior to the scheduled start time and reference passcode 3867318. The conference call will also be available via webcast at https://edge.media-server.com/mmc/p/98vm6ykf and the earnings release can be obtained via the company's Web page at, http://investors.wlkpartners.com/CorporateProfile . A replay of the conference call will be available beginning two hours after its conclusion for seven days. To hear a replay, dial (855) 859-2056 or (404) 537-3406 for international callers. The replay passcode is 3867318. About Westlake Chemical Partners: Westlake Chemical Partners