Investor Presentation 3 rd Quarter 2024 Westlake Chemical Partners 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 • WLKP is well-capitalized with significant financial flexibility • Ethylene Sales Agreement with WLK provides stable margin, protects against commodity risks • Critical supplier of ethylene that WLK needs to produce its products | --- | -- ...

Financial Performance - Net income attributable to the Partnership for Q3 2024 was $18.1 million, or $0.51 per limited partner unit, an increase of 37.1% from $13.2 million in Q3 2023[1] - Net income attributable to Westlake Partners for the three months ended September 30, 2024, was $18,136, compared to $13,206 for the same period in 2023, representing a 37.5% increase[12] - The company reported a net income of $281,772 for the nine months ended September 30, 2024, up from $247,569 in the previous year, reflecting an increase of 13.8%[19] Cash Flow - Cash flows from operating activities in Q3 2024 were $126.1 million, up 24.9% from $100.9 million in Q3 2023[1] - Net cash provided by operating activities for the nine months ended September 30, 2024, was $352,532, compared to $344,328 for the same period in 2023, indicating a 2.5% increase[15] - Net cash provided by operating activities for the three months ended June 30, 2024, was $121,896, compared to $126,071 for the same period in 2023, reflecting a decrease of 1.4%[19] Distributable Cash Flow - MLP distributable cash flow for Q3 2024 was $17.9 million, a 31.6% increase compared to $13.6 million in Q3 2023[1] - MLP distributable cash flow for the nine months ended September 30, 2024, was $51,906, compared to $46,156 for the same period in 2023, reflecting a 12% increase[17] - The quarterly distribution declared was $0.4714 per unit, marking the 41st consecutive quarterly distribution[3] EBITDA - EBITDA for the three months ended September 30, 2024, was $139,126, an increase of 20.1% from $115,738 in the prior year[12] - Total EBITDA for the nine months ended September 30, 2024, was $386,756, compared to $349,947 in the same period last year, indicating an increase of 10.5%[19] Assets and Liabilities - Total assets decreased to $1,294,695 as of September 30, 2024, from $1,316,842 at the end of 2023[13] - Total liabilities were $456,881 as of September 30, 2024, a slight decrease from $460,592 at the end of 2023[13] Market Conditions - Ethylene sales prices and margins reached their highest quarterly average in years, driven by weather events and production outages at other producers[3] - The planned turnaround at the Petro 1 ethylene unit has been deferred to Q1 2025 to capitalize on favorable third-party margins[3] - The Partnership expects some moderation in distributable cash flow in Q4 2024 due to increased maintenance capital spending[3] Coverage Ratio - The trailing twelve-month coverage ratio for MLP distributable cash flow was 1.03x for Q3 2024, up from 0.96x at the end of Q2 2024[3] - Cumulative coverage ratio since the IPO in July 2014 is 1.08x[3] Sales Performance - Total net sales for the three months ended September 30, 2024, were $276,995, a decrease of 13.9% from $321,664 in the same period of 2023[12] - Gross profit for the three months ended September 30, 2024, increased to $116,943, up 25.7% from $92,981 in the prior year[12] Interest Expense - Interest expense for the nine months ended September 30, 2024, was $(19,930), slightly up from $(19,869) in the previous year[19]

Financial Performance - Total net sales for the three months ended June 30, 2024, were $284,168,000, an increase of 7.4% compared to $264,177,000 for the same period in 2023[7]. - Gross profit for the three months ended June 30, 2024, was $101,232,000, representing a 15.4% increase from $87,722,000 in the prior year[7]. - Net income attributable to Westlake Chemical Partners LP for the three months ended June 30, 2024, was $14,427,000, up 21.5% from $11,886,000 in the same period last year[7]. - The company reported a net income per limited partner unit of $0.41 for the three months ended June 30, 2024, compared to $0.34 for the same period in 2023[7]. - The company’s income from operations for the three months ended June 30, 2024, was $93,627,000, an increase of 16.3% from $80,493,000 in the same period last year[7]. - For the quarter ended June 30, 2024, net income was $88.0 million on net sales of $284.2 million, an increase from $75.3 million on net sales of $264.2 million for the same period in 2023, representing a year-over-year increase of 16.9% in net income[78]. - Net income attributable to the Partnership for Q2 2024 was $14.4 million, up from $11.9 million in Q2 2023, reflecting a 20.2% increase[78]. - Income from operations for Q2 2024 was $93.6 million, compared to $80.5 million in Q2 2023, indicating a growth of 16.4%[78]. - Total net sales for the first half of 2024 were $568.8 million, slightly down from $571.9 million in the first half of 2023, a decrease of 0.5%[72]. - For the six months ended June 30, 2024, net income was $177.7 million on net sales of $568.8 million, compared to net income of $166.7 million on net sales of $571.9 million for the same period in 2023, representing an increase in net income of $11.0 million[79]. Assets and Liabilities - Total current assets increased to $232,126,000 as of June 30, 2024, from $226,203,000 at December 31, 2023[5]. - Total liabilities decreased to $453,515,000 as of June 30, 2024, down from $460,592,000 at December 31, 2023[5]. - Cash and cash equivalents increased to $65,999,000 as of June 30, 2024, compared to $58,619,000 at December 31, 2023[5]. - The company’s total equity decreased to $834,847,000 as of June 30, 2024, from $856,250,000 at December 31, 2023[5]. - The company’s total assets decreased to $1,288,362,000 as of June 30, 2024, from $1,316,842,000 at December 31, 2023[5]. - The Partnership's accounts receivable from Westlake decreased to $39,090 as of June 30, 2024, from $49,565 as of December 31, 2023[45]. - The Partnership's accounts payable to Westlake decreased to $10,581 as of June 30, 2024, from $15,166 as of December 31, 2023[46]. - Accrued and other liabilities decreased to $21,840 as of June 30, 2024, from $24,980 at December 31, 2023, representing a decline of approximately 12.5%[55]. Cash Flow and Investments - Net cash provided by operating activities for the six months ended June 30, 2024, was $226,461, down from $243,403 in 2023, a decrease of 6.9%[13]. - Net cash used for investing activities for the six months ended June 30, 2024, was $(19,951), down from $(46,285) in 2023, a decrease of 56.9%[13]. - The Partnership's cash and cash equivalents at the end of the period increased to $65,999 as of June 30, 2024, from $59,434 at the end of June 30, 2023, an increase of 11.0%[13]. - Operating activities provided cash of $226.5 million in the first six months of 2024, a decrease of $16.9 million compared to $243.4 million in the first six months of 2023[90]. - Net cash used for investing activities in the first six months of 2024 was $20.0 million, compared to $46.3 million in the first six months of 2023, resulting in a favorable change of $26.3 million[91]. Sales and Revenue - Sales to related parties for the three months ended June 30, 2024, amounted to $239,527, compared to $224,575 for the same period in 2023, reflecting an increase of approximately 6.4%[38]. - The average sales price for ethylene decreased, contributing to lower sales prices to Westlake, despite higher sales volumes[78]. - Total net sales for the second quarter of 2024 increased by $20.0 million, or 7.6%, to $284.2 million from $264.2 million in the second quarter of 2023, primarily due to higher ethylene sales volumes[80]. - Total net sales decreased by $3.1 million, or 0.5%, to $568.8 million for the six months ended June 30, 2024, primarily due to lower ethylene sales prices[85]. Profitability Metrics - Gross profit for the second quarter of 2024 increased to $101.2 million, with a gross profit margin of 35.6%, compared to $87.7 million and a margin of 33.2% in the second quarter of 2023[81]. - Gross profit for the six months ended June 30, 2024, increased to $203.4 million, with a gross profit margin of 35.8%, compared to $193.8 million and a margin of 33.9% for the same period in 2023[86]. - EBITDA for Q2 2024 was $123.2 million, up from $108.6 million in Q2 2023, representing a 13.5% increase[76]. - MLP distributable cash flow for Q2 2024 was $17.1 million, compared to $15.0 million in Q2 2023, marking an increase of 7.7%[75]. - MLP distributable cash flow increased by $2.1 million to $17.1 million in the second quarter of 2024 from $15.0 million in the second quarter of 2023[84]. Debt and Interest - The weighted average interest rate on all long-term debt was 7.2% as of June 30, 2024, unchanged from December 31, 2023[50]. - Interest paid by the Partnership, net of interest capitalized, increased to $13,228 for the six months ended June 30, 2024, compared to $11,987 for the same period in 2023, marking an increase of approximately 10.4%[57]. - The carrying value of long-term debt payable to Westlake was $399,674 as of June 30, 2024, with a fair value of $412,110[53]. - A hypothetical increase of 100 basis points in the average interest rate on variable rate debt would raise annual interest expense by approximately $4.0 million[112]. Future Plans and Risks - The Partnership plans to commence the next planned maintenance turnaround at Petro 1 in the first quarter of 2025[67]. - The company intends to use the MLP Revolver for future acquisitions and to purchase additional limited partnership interests in OpCo[103]. - The company is subject to various risks including economic conditions, commodity price fluctuations, and regulatory changes that could impact future operations[108].

Financial Data and Key Metrics Changes - Westlake Partners reported a net income of $40 million, or $0.41 per unit, for Q2 2024, benefiting from higher production and sales volume compared to Q2 2023 [4][5] - Consolidated net income, including OpCo's earnings, was $88 million on consolidated net sales of $284 million, with distributable cash flows of $17 million, or $0.49 per unit [7][8] - The partnership's distributable cash flow increased by $2 million compared to Q2 2023, primarily due to higher production and sales volumes [8][9] Business Line Data and Key Metrics Changes - The partnership's performance was positively impacted by OpCo's higher production and sales volumes due to last year's Calvert City turnaround and higher third-party ethylene sales prices and margins [4][8] - The distribution for Q2 2024 was $0.4714 per unit, marking the 40th consecutive quarterly distribution since the IPO in July 2014, with a 71% increase since the original minimum quarterly distribution [9] Market Data and Key Metrics Changes - The company noted improvements in margins on ethylene sales to third parties, attributed to new industry-wide U.S. polyethylene capacity coming online [10] - The overall global macroeconomic environment remains unpredictable, but the ethylene sales agreement provides a predictable fee-based cash flow structure [11] Company Strategy and Development Direction - The company aims to grow distributions through four levers: increasing ownership interest in OpCo, acquiring other qualified income streams, organic growth opportunities, and negotiating a higher fixed margin in the ethylene sales agreement [7] - The management emphasizes a focus on safe operations and environmental stewardship as part of broader sustainability efforts [11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the stability of cash flows due to the fixed margin ethylene sales agreement, which minimizes market volatility [5][11] - The planned turnaround at the Petro 1 ethylene unit is expected to impact the distribution coverage ratio temporarily, but the costs have been reserved and funded [10] Other Important Information - At the end of Q2 2024, the company had consolidated cash balances totaling $160 million and long-term debt of $400 million [9] - The company has maintained a strong leverage ratio of approximately one times [9] Q&A Session Summary Question: Regarding the turnaround of Petro 1, should we assume approximately 30 days in the third quarter and 30 days in the fourth quarter? - Yes, the planned turnaround is expected to be split approximately half in each quarter, impacting earnings and production temporarily [14] Question: On the spot exposure to rising ethylene cracker margins, were you below the 5% maximum level in the first half of the year? - The company has been selling ethylene in advance due to elevated margins and expects to participate in the elevated ethylene margins for the rest of the year [14][15] Question: Has there been any spalling of MLP equity markets, or is there still interest in that area? - The company is exploring opportunities in the MLP equity markets, maintaining dialogue for potential value-driven opportunities [15]

Earnings Presentation 2Q 2024 1 $744M EBITDA(1) $2.40 $3.0B 2Q 2024 Financial Results Record HIP segment earnings with improving PEM segment profitability $3.2B $313M 36% increase vs. 1Q Net Sales 8% increase vs. 1Q Net Income 80% increase vs. 1Q Net Income Per Share Net Cash Provided by Operating Activities • Jean-Marc Gilson named President and CEO; Albert Chao appointed Executive Chairman • Housing and Infrastructure Products (HIP) reported records in income from operations of $266 million, EBITDA of $33 ...

EXHIBIT 99.1 WESTLAKE CHEMICAL PARTNERS LP Contact—(713) 585-2900 Investors—Steve Bender Media—L. Benjamin Ederington Westlake Chemical Partners LP Announces Second Quarter 2024 Results th • Declared quarterly distribution of $0.4714 per unit; 40 consecutive quarterly distribution HOUSTON--(BUSINESS WIRE)--Westlake Chemical Partners LP (NYSE: WLKP) (the "Partnership") today reported net income attributable to the Partnership in the second quarter of 2024 of $14.4 million, or $0.41 per limited partner unit, ...

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, 2024 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 2024 Earnings Conference Call May 1, 2024 1:00 PM ET Company Participants John Zoeller - Vice President and Treasurer Albert Chao - President and Chief Executive Officer Steve Bender - Executive Vice President and Chief Financial Officer Conference Call Participants Matthew Blair - TPH Salvator Tiano - Bank of America Securities Operator Good afternoon, and thank you for standing by. Welcome to the Westlake Chemical Partners First Quarter 2024 Earnings Conference ...

First quarter 2024 net income attributable to the Partnership of $14.8 million increased by $0.5 million compared to fourth quarter 2023 net income of $14.3 million, in part due to lower selling, general and administrative expenses. First quarter 2024 cash flows from operating activities of $104.6 million decreased by $3.1 million compared to fourth quarter 2023 cash flows from operating activities of $107.7 million due to less favorable working capital changes. First quarter 2024 MLP distributable cash flo ...

HOUSTON--(BUSINESS WIRE)--Westlake Chemical Partners LP (the “Partnership”) (NYSE: WLKP) today provided an update on the availability of the Partnership’s 2023 Investor Tax Packages including Schedule K-1 for its common unitholders. The Partnership’s 2023 K-1 tax packages are now available. The information reported to you on Schedule K-1 is based on tax laws currently in effect for 2023. This information may be subject to change depending on actions taken by Congress and the President. If the Tax Relief fo ...