Westlake Chemical Partners LP — Third Quarter 2026 Earnings Summary

Financial Performance:

• Net income attributable to the Partnership for the third quarter of 2026 was $16.2 million ($0.46 per unit), an increase from $14.7 million ($0.42 per unit) in the third quarter of 2025.
• Cash flows from operating activities for the third quarter of 2026 were $122.2 million, up $17.0 million compared to $105.2 million in the third quarter of 2025.
• MLP distributable cash flow for the third quarter of 2026 was $18.0 million, an increase of $3.1 million compared to $14.9 million in the third quarter of 2025.
• For the nine months ended September 30, 2026, net income attributable to the Partnership was $44.6 million ($1.27 per unit), compared to $34.2 million ($0.97 per unit) in the prior year period.
• Total net sales for the three months ended September 30, 2026, were $314.5 million, compared to $308.9 million in the same period in 2025.
• EBITDA for the third quarter of 2026 was $128.3 million, compared to $126.1 million in the third quarter of 2025.
• Total assets as of September 30, 2026, were $1,225.2 million, down from $1,256.5 million as of December 31, 2025.
• Long-term debt payable to Westlake remained constant at $399.7 million as of September 30, 2026, and December 31, 2025.

Guidance and Future Outlook:

• Management expects earnings and cash flows to continue benefiting from the stability provided by the ethylene sales agreement with Westlake.
• The trailing twelve-month coverage ratio for MLP distributable cash flow was 1.09x for the third quarter of 2026, an improvement from 1.04x at the end of the second quarter.
• Since the IPO in July 2014, the cumulative coverage ratio is approximately 1.05x.

Business Segments and Product Lines:

• The Partnership operates ethylene production facilities and owns a 22.8% interest in Westlake Chemical OpCo LP, which includes three ethylene production facilities in Calvert City, Kentucky, and Lake Charles, Louisiana, and an ethylene pipeline.
• Net sales to Westlake Corporation for the third quarter of 2026 were $261.9 million, down from $276.5 million in the third quarter of 2025.
• Net co-products, ethylene, and other sales to third parties for the third quarter of 2026 were $52.5 million, up from $32.4 million in the third quarter of 2025.
• The OpCo Ethylene Sales 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.

Other Key Points:

• The Board of Directors approved a quarterly distribution of $0.4714 per common unit for the third quarter of 2026, payable on December 1, 2026, to unitholders of record as of November 13, 2026.
• This marks the 49th consecutive quarterly distribution.
• Distributions declared per unit remained flat at $0.4714 for the third quarter of 2026 compared to the third quarter of 2025.
• Total distributions declared for the nine months ended September 30, 2026, were $49.8 million, compared to $49.8 million in the same period of 2025.
• Additions to property, plant, and equipment for the nine months ended September 30, 2026, were $29.7 million, compared to $70.0 million in the prior year period.
• The Partnership made investments of $42.0 million with Westlake under the Investment Management Agreement during the nine months ended September 30, 2026, with no such investments in the prior year period.