#12022 Investor Day Presentation April 7, 2022 Westlake#2Today's Speakers at Westlake 2 Albert Chao President & Chief Executive Officer • 37 years at Westlake Over 40 years in the industry Roger Kearns Chief Operating Officer, Executive Vice President Performance & Essential Materials • • 4 years at Westlake 36 years in the industry Robert Buesinger Executive Vice President Housing & Infrastructure Products • 12 years at Westlake • 44 years in the industry Steven Bender Executive Vice President & Chief Financial Officer • • 17 years at Westlake 44 years in the industry 85 Years Combined Experience at Westlake Larry Schubert Vice President Corporate Development & Sustainability • • 10 years at Westlake 41 years in the industry +200 Years Combined Industry Experience Jeff Holy Vice President & Treasurer . • 5 years at Westlake . 20 years in corporate finance Westlake#3Today You Will Hear Our Focused Approach to Deliver Value and Growth Jeff Holy Vice President & Treasurer Albert Chao President & Chief Executive Officer Roger Kearns Chief Operating Officer, Executive Vice President Robert Buesinger Executive Vice President Introduction and Agenda Focused Approach to Deliver Value and Growth All times EDT 9:00 9:05am 9:05 9:35am Performance & Essential Materials Driving Sustainable Value in Attractive Markets 9:35 10:00am Housing & Infrastructure Products Market Leading Positions Drive Value Orientation 10:00 - 10:25am Q&A Larry Schubert Vice President Corporate Development & Sustainability Steven Bender Executive Vice President & Chief Financial Officer Albert Chao President & Chief Executive Officer 3 10:25 10:45am Break 10:45 10:55am Sustainable Commitment with Investments, Products and Goals 10:55 11:10am Strong History of Financial Returns and Capital Discipline 11:10 11:35am Exciting Opportunities Ahead for Westlake Q&A Luncheon & Product Showcase 11:35 11:40am 11:40-12:00pm 12:00-1:00pm Westlake#44 Focused Approach to Delivering Value and Growth Albert Chao President & Chief Executive Officer Westlake#5Westlake's Mission and Values Our MISSION is to serve our customers by safely and reliably producing quality and sustainable products and materials that enhance people's lives every day VALUES $$ HEALTH, SAFETY & ENVIRONMENT ("HSE") The health and safety of our employees and communities, and the vigilant stewardship of the environment and sustainability are of utmost importance and at the forefront of everything we do. OUR PEOPLE The integrity, creativity, dedication, diversity and drive of our employees allows us to excel. We support, develop and inspire our people to achieve their personal best and treat them with dignity and respect. QUALITY & CONTINUOUS IMPROVEMENT Our commitment to quality products and service is so strong that both are symbolized as the two check marks that form the Westlake "W" in our logo. We seek to maintain this commitment through an intensive practice of "never-ending process of improvement." COMPETITIVENESS We are committed to enhancing the lives of people in the global marketplace every day. We do this by providing innovative and useful products, maintaining high standards of customer service and operational excellence with a constant focus on managing costs. CITIZENSHIP We recognize the importance of supporting the communities in which we work and live and make it a priority to take an active role in making these communities better. LO Westlake#6Westlake is a Compelling Investment Opportunity 1 2 3 Strong and experienced leadership with a proven track record of operating excellence, asset allocation, and successful acquisitions and integrations all driving long-term value creation Accelerating profitable growth in Performance & Essential Materials (PEM) by leveraging our globally advantaged low-cost position with a market leading specialized product orientation in attractive end-markets Market leading position in Housing & Infrastructure Products (HIP) driving growth from high-valued, strong brand name product offerings with attractive secular growth 4 Well positioned to execute on a portfolio of opportunities across both segments by leveraging a proven system of operational excellence and value creative capital allocation 5 Disciplined investment culture and a strong balance sheet provide the ability to weather economic cycles and generate strategic bottom line growth 60 Leveraging a Strong History of Success Across a Dynamic Portfolio of Opportunities Westlake#7Westlake's History of Driving Value Creation 1991 1988 LDPE Plant Expansion Started Petro 1 Acquired PVC plant 1997 Acquired Calvert City, Chlor-Alkali plant Started Petro 2 2006 Acquired Longview PE plants 2013 Geismar Chlor-Alkali Plant 2014 Ethylene Plant Expansion Petro 1 2016 Ethylene Plant 2019 Geismar Expansion PVC Petro 2 Plant 7 1986-2021: Sales CAGR -16% 2004 2013 Acquired 1986 IPO on New York Company begins operations in Lake Charles 1993 Acquired 1st 1995 Started Suzhou, Certain Teed Stock Exchange specialty pipe China plant pipe plant 2016 Acquired Axiall and Royal Building Products 2014 1990 Acquired VCM in Calvert City, CA 2002 Acquired Geismar VCM/PVC plant 2004-2021 EBITDA CAGR -15% 2012-2021 Average ROCE ~16% Acquired Vinnolit in Europe 2019 Several acquisitions including Nakan, DaVinci Roofscapes and added to JV ownership of LACC ethane cracker European & U.S. PVC Expansions 2020 2021-22 Made four transformative acquisitions in building products and performance materials for approximately $3.8B Organic and Inorganic Investments in the Portfolio Have Consistently Created Long-Term Value Westlake#8Recent Acquisitions Enhance Value-Added Portfolio Enhancements create a significant ability to apply our proven skills towards new growth and return opportunities across both segments Adding Dynamic End Market Applications to Our Value Chain Establishing HIP as a national player, able to comprehensively serve the largest distribution customers and partners Expanding capabilities for growth in value-added products and solutions 25.0 Building on strong market positions in PEM • . • Aug. 2021 LASCO Acquisition Sep. 2021 Dimex Acquisition 8 Complements our pipe & fittings business which is one of the nation's largest Expands our offering primarily in 4 inches or smaller fittings Expands end-market exposure in plumbing, irrigation and pool & spa • A leading manufacturer of sustainably oriented consumer products • Products made from post-industrial recycled PVC and PE • Complements our HIP offering with landscaping and matting products Oct. 2021 Boral Building Products Acquisition Significantly expands our building product offering • Provides a full-suite of leading brands and high value products Expands geographical reach particularly in the western U.S. Feb 2022 Epoxy Acquisition • Significantly expands our specialty offering in PEM • Materials support the light weighting of products to reduce carbon intensity • Provides growth to sustainable end-markets such as wind energy and EV's Four Catalytic and Capability-Enhancing Acquisitions in the Past Year Valued at $3.8 Billion Westlake#9• Westlake's History of Delivering Strong Financial Results Sales Ten Year CAGR Performance EBITDA Free Cash Flow Per Share Higher Sales, Margins and Returns Attributable to: Focused Bottom Line Growth • Asset Quality · Operating Rate Advantages • ⚫ Chain Integration Leading Market Positions • Specialty & Downstream Focus Advantaged Feedstock ~14% CAGR $11.8B $3.6B 2012 2021 -19% CAGR $3.7B $0.7B 2012 2021 EBITDA Margin 20.9% 31.4% Ten Year Average of Returns and Margins (2012-2021) Westlake average 10% 25% 20% 15% 10% 5% 0% 9 Source: FactSet: Chemical peers includes: EMN, HUN, OLN, LYB, DOW Building products peer includes: JHX, FBHS, MAS, PGTI, DOOR, CNR, JELD Westlake average 16% -26% CAGR $13.57 $1.65 2012 2021 Westlake average 24% Return on Assets Return on Capital Employed EBITDA Margin Westlake ■Westlake Chemical Peers Building Peers#10History of Delivering Outsized Shareholder Returns Unique Elements Driving Westlake Performance: Share Price Performance Since IPO (indexed to 100) 1 Positioned for profitable growth in new markets and leveraging our globally advantaged cost position 2000 1800 2 Deep competitive moat with leading. market positions in our PEM and HIP segments with value-added products with a significant R&D and innovation pipeline 3 Favorable market outlook with strong demand drivers and a limited industry capacity addition outlook 4 Strong cash flows and balance sheet supports growth initiatives 5 Sustainable products offering and goals 1600 1400 1200 1000 800 600 400 200 0 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 WLK S&P 500 S&P 500 Chemicals Index S&P 500 Construction Materials Index Disciplined Capital Investment and Operational Excellence Have Driven Exceptional Long-Term Value Creation Westlake 10 Source: FactSet, includes WLK, S&P 500, S&P 500 Chemicals Index and S&P 500 Construction Materials Index as of March 31 2022#11Committed to Operating Excellence Allocate Capital Accelerate Growth Continuous Improvement Empower Employees Sustainability Focus Strong capital stewardship supported by a long history of applying a shareholder oriented economic value added (EVA) approach Driving growth through attractive organic and inorganic opportunities across both segments Continuously improving our operations through investment in innovation and technology Empowering employees by enabling an ownership mentality and putting safety first Created "One Westlake" brand including products that meet customer needs in an environmentally sustainable way Operating Excellence Drives Bottom Line Results and Leads Peers in Returns on Capital Westlake 11#12Sustainability is Embedded in Our Operations Sustainable Products Proactive Environmental Site Footprint Westlake Sustainability Communications to Engage Constituencies Trade Association Voice ESG Ratings Engagement Investments In Sustainability Capabilities • Dimex acquisition expands Westlake's product portfolio in a variety of consumer products through one of the largest processors of post- industrial recycled plastics material in the U.S. Epoxy acquisition makes Westlake a global leader in epoxies critical for the manufacture of pioneering light weighting components for automobiles, aerospace and wind turbines Continuing Creation of Innovative Green Products • • Introduced Green Vin TM to the European market with more than a 30% CO2 footprint reduction compared to conventional caustic soda PVC Oriented Pipe uses less material while delivering the enhanced strength and capabilities of current PVC pipes ⚫ Bio-based solutions for building materials 12 Strong Relationship with Associations Supporting Our Environmental Commitment ALLIANCE TO MRFF END PLASTIC WASTE FPA Flexible Packaging Association FOR THE MEMBER VSC VINYL SUSTAINABILITY COUNCIL PARTICIPATING IN +VANTAGE Westlake has reduced total greenhouse gas emissions by 8.7% despite an increase in production of 4.8% from 2016-20 Goal of 20% reduction in CO₂ scope 1 & 2 intensity by 2030 Westlake#13Diverse Portfolio with Market Leading Positions Global Scale With Leading Market Positions 13 Performance & Essential Materials (PEM) Performance Materials (PVC, Polyethylene, Epoxy) ~$7.6 Billion 2021 Pro-forma Sales Essential Materials (Chlor-alkali, Olefins) ~$2.7 Billion 2021 Pro-forma Sales Housing & Infrastructure Products (HIP) Housing Products (Building Products, Dimex, Residential - Pipe & Fittings and Global Compounds) ~$3.4 Billion 2021 Pro-forma Sales Infrastructure Products (Infrastructure - Pipe & Fittings and Global Compounds) ~$0.8 Billion 2021 Pro-forma Sales Total Westlake ~$14.5 Billion 2021 Pro-forma Sales Epoxy #1 Specialty for Wind Energy #2 Specialty for European Aerospace #2 Specialty for N.A. Automotive #2 N.A. & European Epoxy Resin Chlorovinyls #1 Global Combined Chlorovinyls #2 Global PVC #2 Global Chlor-Alkali #2 Global Specialty PVC Polyethylene #2 N.A. Autoclave Polyethylene #3 N.A. Low Density Polyethylene N.A. Building Products #1 Premium PVC & Poly-ash Trim #1 Non-wood Shutters #3 PVC Siding #3 Premium Siding N.A. Roofing #1 Clay Tile #1 Concrete Tile N.A. PVC Pipe & #1 PVC Fittings #1 PVC Compounds #1 Composite Roofing #2 Stone Coated Metal Fittings and Compounds #2 PVC Pipe N.A. Stone and Windows #1 Architectural Stone Veneer #1 Texas New Construction Windows End-Market Diversity 70% ■Performance Essential Production Capacity by Region ~ 30% 84% 13% 3% ■Americas ■ EMEA ■Asia Pacific End-Market Diversity 2 80% ■ Housing Infrastructure Production Capacity by Region 2 20% 94% 5% 1% ■ Americas ■ EMEA ■Asia Pacific Source: IHS Markit Westlake#14HIP 14 PEM A Market Leading Portfolio Closer to The Customer Product Verticals Key Growth Drivers Westlake End-Market Applications Performance • Materials • Wind energy, solar, EV's, and aerospace trends Material substitution ⋅ Global housing and infrastructure needs Epoxies for wind and light-weighting Specialty PVC and PE Essential Materials Positive supply & demand dynamics . Enhanced global living standards Electric vehicles Chlorine for water treatment Caustic soda tracking industrial production Housing Products • Underbuilt U.S. housing footprint • • Favorable demographics Strong repair & remodel expenditures Molding and Trim Siding Shutters Roofing Decorative Stone Electrification Infrastructure Products U.S. infrastructure bill • Water infrastructure upgrades Electrification trends Wastewater and drinking water Agriculture Irrigation Automotive Medical Westlake#15A Proven Strategy of Creating Value Leveraging historical strengths across incremental opportunities 25% Ten Year Average 20% 15% 10% 5% 0% Vertically Integrated, Globally Advantaged Integrated chain supported by a well invested production footprint with a globally advantaged low-cost position and downstream focus North America Focused Branded Products Strong brand recognition across the portfolio with resilient businesses and sustainably oriented products Superior Stewards of Capital Maintaining our strong capital discipline aimed at operational improvements, capacity additions and M&A backed by an economic value-add approach Return on Capital Employed ■Westlake Chemical Peers Building Peers Robust Shareholder Value Maximizing long-term shareholder value through focused execution, capital allocation, partnering with customers, and delivering essential products with a focus on sustainability Aimed at Enhancing Returns Through Value Creation and Customer Solutions 15 Source: FactSet: Chemical peers includes: EMN, HUN, OLN, LYB, DOW Building products peer includes: JHX, FBHS, MAS, PGTI, DOOR, CNR, JELD Westlake#16Benefits of a Combined PEM & HIP Portfolio 16 More Stability in Earnings & Cashflow PEM and HIP cycles do not overlap ⚫ HIP provides significant insight in housing and construction product demand • Vertical integration lowers unit cost production and creates highly reliability operations across both segments PEM's Cashflow Profile Supports Stronger Investment in HIP HIP has more access to capital from Westlake vs. smaller & private equity- owned competition . Enables innovation and efficiency investments in HIP's operations Vertically Integrated Cross Functional Innovation Earnings Stability PEM ~ W Enhances Innovation Across Both Segments Leveraging PEM's material science and HIP's product expertise Strongly supports introduction of technically advanced products HIP Creates New Opportunities to Apply Proven M&A Skills Leveraging M&A expertise in disciplined capital deployment and successful integration Enables strategic acquisition opportunities in fragmented industry Allows opportunistic capital allocation across best opportunities across segments Leveraging M&A Discipline Greater Demand HIP Insight More Investment Opportunities Combined Segments Offer Lower Volatility and Greater Reliability to Westlake Investors and Customers Westlake#173 www.1000 Performance & Essential Materials 17 KINK Westlake#1818 Feedstock & Products Essential Materials and Solutions in Attractive Markets Sales Pro-forma 2021 Performance Products & Consumer Applications Vinyl • Housing, construction & infrastructure . Medical & Automotive -$7.6 Polyethylene • Packaging • Consumer Products Billion • Wind Power Epoxy Light Weighting Aerospace & Automotive Essential • • Water treatment Disinfectants Chlor-Alkali • Paper & Tissues ~$2.7 • Cardboard Packaging Billion • Wind Power Chlorovinyls Derivatives • Light weighting • Pool Treatment Global Scale & Leading Positions Capacity by Geography North America ~84% Chlorovinyls #1 Global Combined Chlorovinyls #2 Global PVC #2 Global Chlor-Alkali #2 Global Specialty PVC Essential Solutions for Attractive End-Markets Sales by end-market in 2021 Europe ~13% Epoxy #1 Specialty for Wind Energy #2 Specialty for European Aerospace #2 Specialty for N.A. Automotive #2 N.A. & European Epoxy Resin Polyethylene #2 N.A. Autoclave Polyethylene #3 N.A. Low Density Polyethylene Asia ~3% ~$10.3 Performance & Essential Materials Billion Pro-forma 2021 Sales Source: IHS Markit Performance VS. Essential ~30% 2 70% ■Performance Essential Westlake#19Leveraging a Strategically Placed Production Footprint Global Footprint with North American Concentration North America (~84% of capacity) Vertically integrated chain with strong utilization and growing range of value-added downstream products Access to globally advantaged low-cost inputs of power, natural gas, ethane and salt Well-invested cost-advantaged asset base North American manufacturing footprint well situated to serve strong domestic demand with global low-cost position to profitably serve the export market Other Regions (~16% of capacity) Go to market with specialty products with strong market positions, such as Specialty PVC, Global Compounds, and Epoxy PEM Manufacturing Sites: United States - 15 Germany - 6 China -3 Taiwan -2 Canada - 1 Netherlands - 1 S. Korea - 1 Spain -1 Low-Cost Leadership with Vertical Integration in U.S. and Specialized Product Focus Globally 19 Note: Includes all manufacturing sites and contract manufacturing sites. Westlake#20Coupled with Margin Enhancement Efforts Ongoing Investment in Operational Excellence · Digital and automation investments in operations drive tens of millions in annual savings Continuous investment in operational efficiencies also drive tens of millions in annual savings • • Richer Mix of Higher Margin Value-Add Products Market leadership position in specialty PVC, specialty polyethylene and Epoxy Strong innovative product pipeline backed by nine R&D facilities around the world • Integration Benefits Highly integrated manufacturing platform with globally advantaged feedstock serves strong domestic and export demand 20 20 Positioning PEM for New Levels of Profitable Growth Westlake#21Housing & Infrastructure Products 21 Westlake#22Strong Leadership In Housing & Infrastructure Markets Business Units Sales Pro-forma 2021 ~$3.4 Billion Housing Products & Consumer Applications Siding, Trim & Shutters Roofing Decorative Stone Windows Pipe & Fittings PVC Compounds • • • Premium housing siding Premium clay, composite, concrete & stone coated metal roofing Exterior & interior premium decorative stone New construction windows Fresh water Electrical Infrastructure Strong Reach with Leading Positions Capacity by Geography North America -94% Europe ~5% N.A. Siding, Trim & Shutters #1 Premium PVC & Poly-ash Trim #1 Non-wood Shutters #3 PVC Siding #3 Premium Siding N.A. Roofing #1 Clay Tile #1 Concrete Tile #1 Composite Roofing #2 Stone Coated Metal N.A. PVC Pipe & Fittings, and Compounds #1 PVC Compounds #1 PVC Fittings #2 PVC Pipe Breaking Out Sales Sales by end-market in 2021 New Construction VS. Remodel O 50% 50% ■New construction ■Remodel PVC • -$0.8 Compounds Automotive & aerospace Medical Billion Pipe & Fittings • Fresh water & sewer Agriculture irrigation ~$4.2 Housing & Infrastructure Products (HIP) Billion Pro-forma 2021 Sales 22 22 N.A. Stone and Windows Asia ~1% #1 Architectural Stone Veneer #1 Texas New Construction Windows Source: IHS Markit Westlake#2323 $500 $400 $300 $200 $100 $0 1996 1997 1998 1999 2000 2001 2002 2003 Source: Harvard JCHS and U.S. Bureau of the Census 2004 • Favorable demographics with increasing portion of U.S. population in peak household formation years 2,000 1,500 • Underbuilding of homes since 2007-2009 financial recession creates significant cumulative deficit in available homes today Impact from COVID-19 pandemic increasing preferences for single family housing and enhanced indoor and outdoor living environment 1,000 500 0 Demographics Support Favorable Housing Trends Secular trends to drive U.S. housing demand growth, which will benefit Westlake's Building Products and our PVC businesses: 2,500 Annual U.S. Housing Starts (Thousands) Over Decade of Underbuilding Supports Strong Future Demand U.S. Repair and Remodel Expenditures ($B) CAGR 5.1% 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022E 48,000 46,000 44,000 42,000 40,000 38,000 Expect Continued Growth in Repair and Remodel Spend and Housing Starts 2000 50-Year Average U.S. Population Age 35-44 (Thousands): Peak Household Formation Years 50,000 Demographics Support Continued Housing Demand Growth 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022E 2023E 2024E 2025E 2026E 2027E Westlake 2028E 2029E 2030E 2013 2014 2015 2016 2017 2018 2019 2020 2021#24Further Growth in HIP From Mega-Trends & Competitive Strengths Wood to Polymer Conversion Significant opportunity in displacing wood with polymers such as in trim and moldings where we have market leadership Wood to Polymer Conversion (Exterior Trim and Molding Market) Product Strengths Market leading positions with value- added name brands across product offerings that appeal to any type of consumer budget Portfolio of Leading Brands #1 Clay & Concrete Tile Roofing USTile NEWPOINT. CONCRETE ROOF TILE Clay Roofing Products 費 U.S. Infrastructure Bill & Electrification Our Products Favor The U.S. Infrastructure Bill and Electrification Trends That Provide a Significant Market Opportunity Significant Market Opportunities 2021 Market 80% Share 20% ■ Polymers & other Alternatives Wood ~$3B Market 24 24 Source: Principia. #1 Premium PVC & Poly-ash Trim har ROYAL Trim & Mouldings KLEER #1 Architectural Stone Veneer CULTURED STONE. ELDORADO STONE Water Infrastructure Spend Water infrastructure $ Amount Western water infrastructure Total New Spend $55B $8B $63B Electrification Spend Power Grid $ Amount $73B $65B $138B #1 Texas New Construction Windows Legacy Collection Magnolia Collection Executing Across Several Levers of Growth Broadband Total New Spend Westlake#25Leveraging Our Strong Position in Residential Housing #1 Plastic Shutters #1 Decorative Stone Westlake Royal Building Products Advantages #1 Texas New Construction Windows ZURI PREMIUM DECKING ROYAL Siding M MID AMERICA NEWPOINT. Leading Product Positions #1 Clay Tile #1 Concrete Tile #1 Composite Roofing High-Value Leading Product Brands TruExterior CONCRETE ROOF TILE Siding & Trim US Tile CELECT CELLULAR COMPOSITE SIDING exterior ROYAL Trim & Mouldings PORTFOLIO KLEER THINK OUTSIDE. Clay Roofing Products Unified STEEL STONE COATED ROOFING Wellcraft egress systems DAVINCI Roofscapes #1 Premium PVC & Poly-ash Trim #2 Stone Coated Metal Roofing #3 PVC & Premium Siding CULTURED STONE. ELDORADO STONE VERSETTA STONE. ATLAS STONE COMPOSITE STONE PANELS Magnolia Collection apTools Krestmark Collection WESTLAKE ROYAL ROOFING COMPONENTS DUTCH QUALITY STONE CRAFTSMANSHIP SEER OF TRADITION Legacy Collection KINDRED™ OUTDOORS + SURROUNDS Full Suite Product Offering Leading Brands 33 locations across the United States producing siding, trim and molding, stone, roofing, windows, and outdoor living products 25 25 Leveraged Across the U.S. Locations prior to Boral North America acquisition Locations post Boral North America acquisition Nationwide Footprint Capturing Broad Housing Growth with Leading Brands Source: Vinyl Siding Institute and company esimates. Westlake#26Coupled with Margin Enhancement Efforts 26 26 Richer Mix of Higher Margin Value-Added Name Brand Products • Leadership position in pipe & fittings strengthened by the acquisition of Lasco's small diameter offering Decorative stone solutions provide attractive interior and exterior options to home builders Westlake leads the market with premium roofing materials Leadership in building products was strengthened by the acquisition of Boral which also expanded Westlake's national reach and product leadership Operational Improvements • New windows manufacturing facility to address growing new construction demand • Improved manufacturing techniques drive increased production capacity • Increasing the use of automation that reduces labor cost and improves operational efficiencies Product Integration & Improved Cross- Selling Capability • • Commercial teams drive sales channel integration to increase sales and margins Common branding strategy with leading higher-valued product offering supporting customer satisfaction rates Positioning HIP for Long-Term Profitable Growth Westlake#27Corporate Strategy & Overview 27 Westlake#28Investment Criteria to Drive Growth Strategic Filters Adjacent Applications and Products in Core HIP & PEM Segments 3 28 Improves Vertical Integration Strategy to Further Reduce Costs Buying Below Replacement Costs Enhances Production and Technology Capabilities Disciplined and Opportunistic Approach to Acquisition Opportunities Supporting Key Attributes 2 Deep competitive moat 5 Sustainable Product Offering 1 Positioned for profitable growth 4 Favorable market outlook Strong cash flows and balance sheet Defining a Proven M&A Strategy to Drive Bottom Line Growth & Peer Leading Return on Capital Westlake#29Net Debt to EBITDA Westlake History of Maintaining a Strong Balance Sheet Strong Balance Sheet With Significant Availability to Support Future Growth and Investment Cash $1,908M Fully Undrawn Revolver $1,000M 0.9x VS. 3.0x Total Available Liquidity Total Debt -$3,000M $5,180M Net Debt to EBITDA Peer Average As of December 31st, 2021 Debt maturity life of ~17 years compared to average peer group of ~7 years Strong Credit Ratings Support Additional Funding 6.0x 5.0x 4.0x 3.0x 2.0x 1.0x 0.0x 2015 29 29 Temporary Increase in debt from Axiall acquisition S&P BBB Reduced Retired debt by $500M+ Retired $1.2B $254MM of of debt debt 2016 2017 ■WLK 2018 Chemical Source: FactSet: Chemical peers includes: EMN, HUN, OLN, LYB, DOW Building products peer includes: JHX, FBHS, MAS, PGTI, DOOR, CNR, JELD Fitch BBB Moody's Baa2 Funded four transformational acquisitions Westlake has consistently maintained a strong balance sheet while making significant investments in the business 2019 Building 2020 2021 Westlake#30Strategic Actions Enhance Underlying Market Growth Product Portfolio Well Positioned For Growth Across Several Channels Specialty Materials & Capacity Additions High Growth & Sustainable Materials with Epoxies Housing Growth & Infrastructure Investment 30 Industrial & Manufacturing Global presence in Chlor-Alkali serving industrial and manufacturing customers Advantaged markets such as specialty low density PE and specialty PVC tied to consumer demand levered by lower-risk, higher returning debottlenecks and expansions Expands exposure in electrification, EV light weighting, wind power and renewables Market leading value-added brands in the growing housing market with favorable demographics coupled with the U.S. Infrastructure Bills provides long-term demand Westlake#31Well Positioned For the Next Stage of Growth EXPAND & IMPROVE DIVERSIFY & GROW DOWNSTREAM CONTINUED GROWTH & EXECUTING ON PORTFOLIO OF OPPORTUNITIES 1986 - 2004 2005-2019 2020-2021 2022 2023 & Beyond Expanded capacity at a 15% CAGR since inception Built a strong foundation supported by a world-class operational excellence platform Grew our specialty value-added and downstream material offerings Diversified our portfolio in housing and infrastructure end-markets with solid growth opportunities Leveraging Westlake's operating platform and history of successful acquisition integration to execute on recent additions and fully capitalize on opportunities Adjacent acquisition opportunities to expand HIP Expansion opportunities in Epoxy Expansions in PVC and Chlor-Alkali Disciplined and opportunistic capital allocation to drive bottom line growth and shareholder returns Through Long History of Successful Execution and Operational Excellence 37 31 Westlake#32Key Takeaways 32 1 2 3 Leading producer of Performance & Essential Materials and Housing & Infrastructure Products that enhance life every day Globally advantaged cost position in Performance & Essential Materials leverages the segment for growth with favorable market dynamics and increasing mix of more specialty and downstream products Leading positions and brands in Housing & Infrastructure Products with significant structural and secular growth opportunities and product integration benefits 4 5 Significant topline and margin improvement provides opportunities as we integrate the $3.8 billion of recent acquisitions across both segments Proven track record of disciplined and value creative capital allocation that is supported by a strong balance sheet Westlake#3333 333 Performance & Essential Materials: Well Positioned to Drive Sustainable Value in Attractive Markets Roger Kearns Chief Operating Officer, Executive Vice President Performance & Essential Materials Westlake#34What You Will Hear Today: PEM 1 2 The transformation of Westlake with a focus on specialty and downstream performance materials positions us as a market leader across our product spectrum Achieving a best-in-class cost position driven by vertical integration and large North American footprint with a globally advantaged low-cost position in raw materials and energy 3 Creating profitable growth through cost efficient brownfield expansions, debottlenecks and leveraging our global sales team in specialty products 4 5 Recently acquired Epoxy business provides additional opportunities in new and higher growth sustainable end-markets Driving margin expansion opportunities through a focus on operational excellence, higher integration, investing in Digitization and shifting to more specialized and downstream materials with higher growth and margins 34 Westlake#3535 55 Performance & Essential Materials Overview ~$10.3B 2021 Pro-forma Revenue Performance Sales Pro-forma 2021 Materials & Consumer Applications PVC • Housing, Construction & Infrastructure Chlorovinyls #1 Global Combined Chlorovinyls #2 Global Chlor-Alkali #2 Global PVC #2 Global Specialty PVC Performance vs. Essential 30% ~70% Of Westlake's Sales 37% EBITDA Margin 30 Production Locations ~6,800 Employees Feedstock & Products ~$7.6 Billion ~$2.7 . Medical & Automotive Polyethylene • Packaging • Consumer Products Wind Power Epoxy Light Weighting Aerospace & Automotive Essential Epoxy #1 Specialty for Wind Energy #2 Specialty for European Aerospace #2 Specialty for N.A. Automotive #2 N.A. & European Liquid Epoxy Resin • Water Treatment • Chlor-Alkali Disinfectants • Paper & Tissues • Cardboard Packaging Billion • Wind Power Chlorovinyls Derivatives • Light Weighting • Pool Treatment Polyethylene #2 N.A. Autoclave Polyethylene #2 Specialty Co-Polymer Polyethylene #3 N.A. Low Density Polyethylene Locations across 8 countries with 42 billion pounds of capacity Source: IHS Markit 70% ■Performance Essential Production Capacity by Region 13% 3% 84% ■Americas Asia Pacific EMEA Westlake#3636 50,000 PEM has a Long History of Strategic & Profitable Growth Key Expansion Events Performance ■ Essential 40,000 30,000 Total Capacity (millions of lbs.) 20,000 10,000 0 1986 | 1987 | 1988 1989 | -15% CAGR 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 • Expanded Ethylene Capacity (2013, 2014, 2016, 2017) Expanded PVC Capacity (2013, 2014, 2019, 2020) Expanded Chlor-Alkali Capacity (2013) Acquired Vinnolit Specialty PVC (2014) Acquired Axiall (2016) Acquired Ethylene Capacity via new cracker JV (2019, 2022) Acquired Hexion Epoxy, expanding product offering and adding new markets (2022) . . Westlake#37Performance & Essential Materials for Everyday Life Product • Demand Opportunities PVC is an integral product for a significant number of housing and construction materials that are short in supply and high in demand PEM Outperformance vs. Peers 2021 EBITDA Margin W Market Position 40% 30% #2 Global PVC • PVC PVC is a superior product over lead, iron and concrete pipe driving material substitution #2 Global Specialty PVC 20% Chemical Peers 10% 0% PEM Low and Linear-Low Density Polyethylene Epoxy Chlor-Alkali 37 • Growth in consumer demand for products such as premium vinyl flooring and artificial leather for specialty PVC Population growth and urbanization driving packaging demand Light weighting packaging increasing demand for performance materials Macro trends driving demand for essential materials in wind energy, light weighting, coatings, adhesives and electrification expected to grow faster than global GDP Robust demand for chlorine supporting global PVC demand Strong demand for caustic driven by industrial and manufacturing demand Sources: IHS Markit, Bloomberg, Chemical peers includes: EMN, HUN, OLN, LYB, DOW #2 N.A. Autoclave Polyethylene #2 Specialty Co-Polymer Polyethylene #3 N.A. Low Density Polyethylene 15% 2021 ROCE #1 Specialty for Wind Energy #2 Specialty for European Aerospace #2 Specialty for N.A. Automotive #2 N.A. & European Liquid Epoxy Resin #1 Global Chlorovinyls #2 Global Chlor-Alkali 10% 5% 0% Chemical Peers Total Company Westlake#38High Product Integration with a Globally Advantaged Low-Cost Position Westlake has long-term strategic cost advantage: North America has a long-term cost advantaged position through abundant supply of Ethane from shale, electricity from natural gas and ample salt compared to global markets Integration from feedstock to final product captures margin across the production chain and throughout the economic cycle enhancing margin stability All ethane feedstock capability Ethylene 4.8B lbs North American Merchant Ethylene • End Markets Flexible packaging Shrink wrap Polyethylene 2.6B lbs • Trash bags Styrene 570M lbs Tires Latexes for paint & coatings Flooring Vinyls Roofing Purchases PVC ¡PVC Products Wallpaper • ~1.1B lbs Films Chlorine 7.8B lbs 3.5B lbs • Coating • Automotive 7.2B lbs • Artificial leather Fencing HIP • Decking Siding Pipe 38 Ероху Intermediates Caustic Soda 7.9B lbs 700M lbs Chlorinated Products 2.3B lbs Epoxy 1.2B lbs Pulp & paper Glass • Alumina • Wind power • Aviation Automotive Coatings Westlake#39Leveraging a Strategically Placed Production Footprint Global Footprint with North American Concentration North America (~84% of capacity) Vertically integrated chain with growing range of value-added products Access to low-cost inputs of power, natural gas and salt Well-invested cost-advantaged asset base North American manufacturing footprint well situated to serve strong domestic demand and provides low-cost advantages to serve export market Other Regions (~16% of capacity) Go to market with specialty products with strong market positions, such as specialty PVC and Epoxy PEM Manufacturing Sites: United States - 15 Germany - 6 China -3 Taiwan -2 Canada - 1 Netherlands - 1 S. Korea - 1 Spain -1 Low-Cost Leadership with Vertical Integration in U.S. and Specialized Product Focus Globally 39 Note: Includes all manufacturing sites and contract manufacturing sites. Westlake#40Revenue Growth Enhancers Well positioned to benefit from favorable chlorovinyls supply & demand dynamics particularly in PVC and caustic soda Capitalizing on a new growth platform with sustainable applications through recent Epoxy acquisition Leveraging strong position in specialty low density polyethylene Shifting more towards downstream through specialty product mix and coming closer to our end customers 40 40 Westlake#41Leading Scale, Vertical Integration with Globally Advantaged Low-Cost Position Drives Chlorovinyl Margin Support Chlor-Alkali Chlorine Caustic Soda Overview of the Chlorovinyls Chain Chlorinated Products Ethylene Vinyl Chloride Dichloride Monomer (EDC) (VCM) Polyvinyl Chloride (PVC) HIP PVC Products Westlake benefits from its globally competitive cost position and integrated production footprint as the world's largest chlorovinyls manufacturer Significant benefits from low cost North American natural gas and ethane driving a globally advantaged position in producing ethylene and chlor-alkali Integrated position as the world's largest chlorovinyls producer further lowers. production costs and enhances margin capture and resiliency 41 Ethylene Source: IHS Markit Merchant Sales Complexity and capital cost of the vinyls chain raises barriers to entry Epoxy Recent Epoxy acquisition captures additional integration and downstream focus Westlake#4242 Westlake Formosa Shin-Etsu Benefitting from Compelling Supply & Demand Dynamics 2021 Global Caustic & PVC Capacity Relative Industry Changes in Capacity Compared to World GDP: Global Over/Under Investment PVC Capacity W 5% Both PVC and Chlor-Alkali demand growth is expected to materially exceed supply additions in the coming years supporting a robust outlook 0% -5% -10% Olin Occidental INEOS Westlake Global leader in areas with favorable long-term supply and demand dynamics Complexity and capital cost of the Chlorovinyls chain raises barriers to entry leading to less capacity additions over time • PVC demand is expected to be strong driven by global housing and infrastructure markets 10% 5% Xinjiang Zhongtai Dow 0 2,000 4,000 6,000 8,000 10,000 KMT Caustic demand is driven by broad global economic growth with applications across a variety of end uses from paper to alumina to soaps and detergent 0% -5% -10% Source: IHS Markit, IMF. 2021 Global Caustic & PVC Capacity based on total aggregate capacity of tons of PVC and Caustic Soda by company 2010 10% 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Global Over/Under Investment Caustic Soda Capacity Largest Global Chlorovinyl Producer Providing Customers Leading Products and Service 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Westlake 2023 2024 2025#43Penetrating New End-Markets Through Epoxy Epoxy at a Glance: Epoxies expand Westlake's integrated materials business into attractive high-growth innovative and sustainability oriented end-use products Applications & Products Wind Energy Aerospace Automotive Leadership Position #1 Global #2 Europe #2 North America Liquid Epoxy Resin #2 North America, Europe BPA #2 North America Other Epoxy Detail Significant global scale with 8 manufacturing sites worldwide and 5 R&D labs across 3 continents Epoxy operating rates are expected to increase over the next decade driven by increasing demand and limited capacity additions • Fast growing markets: - Composites for wind energy, aerospace and automotive Sales By: Product Epoxy Market Overview Global Industry Sales Other Construction 12% 4% Composites 8% Epoxy Resin Adhesives 7% 43% 57% 45% Coatings 24% Electrical Applications Specialized Epoxy Markets Growth Forecast Geography Coatings 3.2% Asia 23% Electrical Applications 3.6% 41% Americas Adhesives 3.4% Composites 5.8% 43 - Electrical applications including semiconductors - Adhesives across an array of markets - Coatings for food preservation and construction markets Source: IHS Markit 36% EMEA Construction Based on 2017-2021 averages Source: Roland Burger 2.6% Westlake#44Westlake's Unique LDPE Focus Provides Advantages Westlake's PE Capacity Breakout LDPE Capacity as a % of Total PE Capacity Commodity HDPE Less Differentiated Grades of PE LLDPE Specialty LDPE Westlake Dow Westlake's PE Mix Specialty & Differentiated PE LyondellBasell 58% 42% Westlake's PE is used in a variety of demanding applications including food packaging that increases shelf life and enhances transportation efficiency ExxonMobil Chevron Phillips 0% ~80% Autoclave 20% Of the three types of PE, LDPE has the most specialty applications and has unique properties in clarity and coating applications that drive its pricing premium 40% 60% 80% • Westlake is a leading producer of specialty polyethylene (PE) that drives higher pricing and customer specification compared to commodity PE grades 42% of Westlake's capacity is specialty PE that is harder to substitute for and generally not the focus of the other larger PE producers who tend to focus on the commodity PE that Westlake does not produce Westlake's greater mix of LDPE bolsters margin advantage Westlake further adds to its advantage from LDPE by producing 80% of it through the even more specialized Autoclave method vs. Tubular LDPE • Autoclave LDPE is more costly to build and requires greater development and customer focus increasing barriers to entry 44 Source: IHS Markit Westlake#4545 55 Closer to Customers with Specialty Products & Innovation Global R&D Footprint Supporting Product Development Product Specialty PE Specialty PVC End-use and Applications • Solar cell encapsulant film • Personal care products Sterile medical packaging • Food preservation Epoxy Specialty Resin . Medical equipment such as blood bags Premium vinyl flooring and wall covering Consumer durables • Automotive applications • Wind energy application Composites for automotive & aerospace light weighting • Electrification/semiconductor chips Europe United States Duisburg, Germany (Epoxy) Esslingen, Germany (Epoxy) Longview, TX (PE) Pernis, Netherlands (Epoxy) Gendorf, Germany (Vinnolit) Stafford, TX (Epoxy) Asia • Coatings for consumer applications Adhesives and construction applications Shanghai, China (Epoxy) Suzhou, China (PVC) Monroeville, PA (Water) Westlake#46Specialty & Downstream Product Mix Enhances Margins Product Market Position Price Advantage (1) . (per pound) Avg. Specialty PVC Specialty PVC #2 in Global PVC #2 in Global Specialty PVC 20.0¢ Over Commodity PVC Epoxy Specialty Resins #2 in Epoxy Resin 29.0¢ Avg. Specialty Ероху Over Commodity Epoxy Avg. Specialty 15.0¢ Specialty PE Leading Producer LDPE #3 in the Americas Premium PE Over Commodity PE 8.6¢ 7.8¢ • • • Westlake is a leading producer of specialty PVC delivering higher margins and increased earnings stability Population growth and urbanization in global economies drives specialty product demand in automotive, medical and housing applications as well as consumer durables Epoxy broadens Westlake's end-market exposure to higher growth sustainability-oriented markets such as wind energy as well as automotive and aerospace light weighting Leading producer of specialty polyethylene that has higher pricing and customer specification compared to other PE grades Westlake's higher priced and application focused specialized PE product combined with its globally advantaged cost position drives higher margin and more resilient profitability 46 (1) Based on cycle averages Source: IHS Markit, company estimates LDPE vs. LLDPE LDPE vs. HDPE Westlake#47Best-in-Class Operations Support Future Results Vertical Integration Optimizing Mix Driving Operating Capital Investment Excellence epaal Vertical integration, globally advantaged low-cost position and market leading positions drive best-in-class operations Growth in specialty and downstream materials enhance product mix, growth opportunities and margins Ensuring safe, efficient and highly reliable operations with a focus on continuous improvement Expansion, innovation and technology investment opportunities 47 Westlake#48Investing with Discipline in Our Strong Operations 10-year Average ROCE & ROA (2012-2021) 10-year Investment Summary 25% 20% 15% 10% 5% 0% • Return on Capital Employed ■Westlake Total Company ■Chemical Peers Improved Feedstock Advantage Chlorovinyls Capacity Expansion High Growth & Sustainable Products Return on Assets Lake Charles, LA ethylene expansions • Calvert City, KY ethylene expansions • LACC Lake Charles ethylene investment . Geismar chlor-alkali investment • • Geismar PVC/VCM expansions • Calvert City PVC facility expansions • German expansion of chlor-alkali, VCM and specialty PVC • Epoxy acquisition Increased investment in specialty polyethylene Increased investment in specialty PVC Westlake Continuous Improvement Continuous improvements in cost position and reliability drive a significant amount of annual savings Digital innovations further refine and optimize operations and provide incremental savings • Axiall acquisition 10-year Average ROCE of 16% Well Above Chemical Peer Group of 12% Westlake 48 Source: Bloomberg, Chemical peers includes: EMN, HUN, OLN, LYB, DOW#49Vinyls Integration Maximizes Shareholder Return Expansion Cost Per Unit (ECU) of Integrated Chlorovinyls (ethylene based) Capacity $1,600 $1,200 Westlake Debottlenecks ■China U.S. ECU and PVC Margin History ■ USGC $800 $400 $0 2011 2012 2013 2014 ECU Cash Margin 2015 2016 2017 2018 2019 2020 2021 PVC Cash Margin -Integrated Chlorovinyls Cash Margin 2022E • • Westlake's EDC, VCM, and PVC debottlenecks can be realized at significantly below USGC brownfield capital costs Chlorine value uplift through integration into Vinyls delivers ROCE > 15% over the cycle. Leverages strengths of caustic and PVC chains independently during business cycles Expands global reach of North American low cost energy advantage Reduces dependence on chlorine outlets with limited market reach - merchant chlorine, bleach, HCI, etc. 49 49 Enhances Shareholder Value by Maximizing Margins From Low-Cost Investments Source: IHS & CDI estimates Westlake#502022 Current capacity (~42 Billion lbs) PEM Capacity Additions and M&A with a Specialty Focus ~16% CAGR in Production Capacity Growth 2017 2020 Investments PVC: 200M lbs Chlor-Alkali & PVC: 2014 Starting capacity (~13 Billion lbs) Investments Ethylene & PVC: 620M lbs Acquisitions Vinnolit (Specialty PVC): ~5,200M lbs 2016 Investments Ethylene: 250M lbs Acquisitions Axiall (Chlor-Alkali): 20,560M lbs Investments Ethylene: 100M lbs 2019 Investments 860M lbs Acquisitions LACC JV (Ethylene): ~1,030M lbs 2021 Investments PVC: 200M lbs Acquisitions Epoxy (Specialty): 1,200M lbs 2014-2022 Capacity Additions ~30 Billion lbs Added & $6.3B in M&A 50 50 Westlake#51PEM's Economic Engine Performance & Essential Materials Core Market Drivers Organic Growth Enhancers Globally advantaged • Investing in superior low-cost position drives margin strength and stability Vertically integrated with leading market positions • Favorable supply and demand dynamics • Specialty focus with higher and more stable margins . in-house R&D • Leveraging global sales team • Vertical / • Downstream integration Brownfield expansions Inorganic Growth Opportunities • Penetrating new and sustainable end markets and adjacencies through acquisitions • Acquisitions of technology plays and patents with strong R&D capabilities • Disciplined and opportunistic assessment of M&A opportunities . Margin Enhancers • Investing in automation and digitization • Shifting mix to higher growth and higher margin specialty and downstream applications . Financial Outputs ROCE above peers • EBITDA margin above peers 51 Westlake#52549 52 Key Takeaways 1 2 3 4 Performance & Essential Materials has leading market positions with significant specialty and downstream focus Achieving best-in-class cost position driven by high degree of vertical integration and strategically placed geographical low-cost footprint Creating profitable growth through cost efficient brownfield expansions, debottlenecking and leveraging our global sales teams in specialty products Recently acquired Epoxy business provides additional growth opportunities in new and sustainability-oriented end-markets Driving margin expansion opportunities through focus in operational 5 excellence, investing in digitization and shifting to more specialized and downstream materials with higher growth and margins Westlake#53Housing & Infrastructure Products: Leading Positions Drive Value Creation Robert Buesinger Executive Vice President Housing & Infrastructure Products 33 53 Westlake#54Westlake is Positioned Closer to the Customer with Market Leading Positions That Drive Value Creation 1 2 3 Housing & Infrastructure Products has a leading presence and brand recognition across many high-valued product categories Growth supported by favorable market demand drivers including an underbuilt and aging U.S. housing stock, underinvested public infrastructure and favorable demographics Significant growth prospects from integrating acquisitions under one brand, driving cross-selling opportunities and optimizing distribution network 4 5 Complements the Westlake PEM portfolio by diversifying cycle exposures and leveraging vertical integration opportunities Innovative product pipeline and fragmented competitive market provides both organic and inorganic opportunities and the ability to leverage our proven operational and acquisition track record 54 Westlake#55Housing & Infrastructure Products Overview ~$4.2B 2021 Pro-forma Revenue Sales Pro-forma 2021 Housing N.A. Building Products #1 Premium PVC & Poly-ash Trim Description #1 Non-wood Shutters #3 PVC Siding ~30% Of Westlake's Sales ~$3.4 Billion • • • • Building Products Residential Pipe & Fittings Residential Global Compounds Recycled Consumer Products #3 Premium Siding N.A. Roofing #1 Clay Tile #1 Concrete Tile #1 Composite Roofing #2 Stone Coated Metal Roofing N.A. PVC Pipe & Fittings and Compounds 17% EBITDA Margin 75 Production Locations ~8,760 Employees Business Units -$0.8 Billion 55 59 Infrastructure • • Infrastructure Pipe & Fittings Medical Markets #1 PVC Compounds #1 PVC Fittings #2 PVC Pipe N.A. Stone and Windows Automotive Markets #1 Architectural Stone Veneer #1 Texas New Construction Windows Source: IHS Markit Sales Breakout 1-step distribution VS. 2-step distribution Construction VS. Remodel 20% 80% 50% 50% ■1-step ■2-step New construction Remodel Housing vs. Infrastructure 2 20% 2 80% Housing Infrastructure Westlake#56HIP Benefits from Significant Scale and a Long History of Customer Satisfaction Significant growth since 2016 driven by both organic market growth and strategic M&A Fiscal Year 2022 Consensus Revenue Estimates ($ in millions) Trex ~$1,400 Prior to 2016 Leader in PVC Pipe 2016 2019 ~$1,400 PGTI HEAZEK -$1,400 COMPANY Acquired Royal Building Products to become leader in Vinyl building products Acquired NAKAN Global Compounds and DaVinci Composite Roofing JamesHardie W JELD-WEN Aug. Acquired LASCO Fittings 2021 Sep. Acquired Dimex Post Industrial 2021 Recycled Products Oct. 2021 Acquired Boral North America Building Products 56 CORNERSTONE BUILDING BRANDS Fortune Brands OWENS CORNING Westlake Housing & Infrastructure Products FY22 sales assumes the mid-point of FY22 guidance to account for recent acquisitions Source: FactSet as of March 31 2022 ~$3,600 ~$4,500 $5,000 ~$5,200 -$6,100 ~$8,200 ~$9,200 Westlake#57Portfolio Overview Business Westlake Royal Building Products™ Leading Brands & Product Examples ROYAL Siding DAVINCI Roofscapes T ZURI PREMIUM DECKING NEWPOINT. Unified STEEL STONE COATED ROOFING USTile® KINDRED™ OUTDOORS + SURROUNDS CONCRETE ROOF TILE Clay Roofing Products ROYAL Trim & Mouldings ELDORADO STONE Westlake Dimex Westlake Pipe & Fittings Serta Certa Lok Certa-Lok Westlake Global Compounds 44 57 • • • • • · • • • Demand Drivers/Major-End-Markets Over a decade of underbuilding in U.S. residential housing Demographics and work flexibility drive housing growth Repair and remodel spend Residential housing growth and outdoor living Demographics and work flexibility drive housing growth Growing consumer commitment to made in the USA green sustainable products Residential housing growth PVC replacing iron and concrete pipe for water transmission Aging infrastructure & U.S. infrastructure bill Electrification trends U.S. Infrastructure bill spend on power grid & broadband Housing, construction, and electrification trends Medical equipment demand growth Sustainable automotive interiors • CLIC Westlake#58Westlake Royal Building Products Full suite offering of housing products with leading positions and brands across roofing, siding, decorative stone, outdoor living, windows, trim and much more U.S. housing trends are favorable over the longer-term driven by a decade of underbuilding, favorable demographics and wealth transformations that support continued growth Enabling a strong distribution network with value-added products and enhanced scale aimed at demand generation Cross-selling opportunities as we vertically integrate our expanded offering particularly with Westlake Royal Building Products and Boral Building Products Significant conversion opportunities such as trim & molding from wood and roofing from natural shake and slate 58 Westlake#59Westlake Royal Building Products Full Suite Offering WESTLAKE BUILDING PRODUCT OFFERINGS POST ACQUISITIONS 1. ROOFING & ACCESSORIES 3 2. ALUMINUM & RAINWARE 3. WINDOWS 4. SHUTTERS, MOUNTS & VENTS 5. SIDING 6. EXTERIOR TRIM 7. STONE VENEER 8. COLUMNS 59 59 7 (13) 10 (12) WESTLAKE BUILDING PRODUCT OFFERINGS POST ACQUISITIONS 9. INTERIOR TRIM 10. INDOOR PIPE & FITTINGS 11. OUTDOOR LIVING 12. DECKING 13. MUNICIPAL PIPE & FITTINGS Westlake#60Closer to the Customer with Value-Added Name Brands Flagship Brands Growth Opportunities Name Value Brands make up the majority of Westlake Royal Building Products offering that drive higher and more stable margins Siding & Accessories Trim & Molding Roofing US TAM* Market Positions • ROYAL Siding Vinyl siding provides lowest installed cost Majority is driven by stable R&R spend ~$10B TruExterior • Siding & Irim Strong housing construction demand #1 Non-wood Shutters #3 Premium Siding ROYAL Trim & Mouldings KLEER Displacing wood and other alternatives • Strong housing construction demand Stable R&R spend ~$3B #1 Premium PVC Trim #1 Poly-Ash Trim NEWPOINT CONCRETE ROOF TILE USTile Clay Roofing Products DAVINCI Roufaxopes #1 Concrete & Clay Tile Displacing natural slate and other alternatives Strong housing construction demand Majority is driven by stable R&R spend ~$15B #1 Composite Tile #2 Stone Coated Metal STONECRAFT ~80% of Sales Go through 1 Step distributors who sell to the final customer enhancing margins over two-step distribution Decorative Stone • ELDORADO STONE • VERSETTA STONE Legacy Collection Windows Krestmark Collection Outdoor Living ZURI KINDRED CUTDOORS SURROLES REMILY DECKING 60 Housing construction and R&R spend Market leading brands support demand Westlake's innovation in cultured stone ~$4B #1 Architectural Stone Veneer Magnolia Collection Leveraging strength in Texas and other regions New home construction demand Stable R&R spend provides additional support • Displacing wood decking • Growing outdoor trends post-pandemic Market leading brands appeal to consumers • Attractive aesthetics Leading position in attractively growing Texas market and surrounding areas Leveraging leading brands driving higher penetration in Outdoor Living Westlake Source: Principia, Freedonia, Fortune Business Advisors. *TAM: Total addressable market#6119 61 $500 $400 $300 $200 $100 $0 1996 1997 1998 1999 2000 2001 2002 2003 Source: Harvard JCHS and U.S. Bureau of the Census 2004 • 2,500 Favorable demographics with increasing number of U.S. population to be in peak household formation years 2,000 Underbuilding of homes since 2007-2009 financial recession creates significant cumulative deficit in available homes today 1,500 1,000 Impact from COVID-19 pandemic increasing preferences for single family housing and enhanced indoor and outdoor living environment Increased work flexibility drives demand for single family homes 500 0 U.S. Repair and Remodel Expenditures ($B) Demographics Support Favorable Housing Trends • Secular trends to drive U.S. housing demand growth, which will benefit Westlake's Building Products and our PVC businesses: Annual U.S. Housing Starts (Thousands) Over Decade of Underbuilding Supports Strong Future Demand CAGR 5.1% 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022E 50,000 48,000 46,000 44,000 42,000 40,000 38,000 Expect Continued Growth in Repair and Remodel Spend and Housing Starts 2000 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 50-Year Average U.S. Population Age 35-44 (Thousands): Peak Household Formation Years Demographics Support Continued Housing 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022E Demand Growth 2023E 2024E 2025E 2026E 2027E 2028E 2029E Westlake 2030E 2013 2014 2015 2016 2017 2018 2019 2020 2021#62Supporting Our Prominent Partners with Tools and Scale Prominent Partners Across North America Demand Generation Tools DramDesigner Upload Your Home | Pick a New Home Your Projects Order Samples HomePlay x UPLOAD YOUR HONE Start Designing UPLOAD YOUR HOME CHOOSE A HOME Scale, Breadth, and Availability ABC Supply Co. inc. D.R.HORTON® America's Builder SBP LOWE'S LMC SRS DISTRIBUTION Building Business Together. Richards BUILDING SUPPLY Toll Brothers AMERICA'S LUXURY HOME BUILDER* SPECIALTY BUILDING PRODUCTS LANSING BUILDING PRODUCTS LENNARⓇ® BlueLinx America's Building Products Distributor BEACON For Our Brands Advertising, social media and web marketing efforts • Industry leading position at trade shows Marketing cloud tools from Salesforce to target new contractors Online design tools to drive homeowner brand choice . • For Distributors & Contractors Dedicated website and social media for Westlake Royal Pros Training and support offering One Click Contractor partnership providing a completely virtual transaction experience and eliminating paper contracts Why Distributors Choose Us Our national presence appeals to distributors as they consolidate spend Reliability supported by our nationwide footprint and product availability Strong solutions and support offering 62 62 Westlake#63Significant Cross-Selling Opportunities • Through Boral Building Products Acquisition Regional Expansion Strong presence in the West and South joins Westlake's existing strong presence in the East and Mid-West Customers Provides customers greater selection and product offerings Creates cross-selling opportunities to existing customers of both legacy brands Products Significantly expands product reach such as having the ability to provide premium roofing across North America Through Product Integration Legacy Portfolio Focused on siding & accessories as well as exterior and interior trim & moldings Adding more premium products across several categories Customers • Strengthening relationships with distributors through solutions and e-commerce offerings Product Management Applying good, better, best product offering model that appeals to every type of consumer Provides a Lever of Growth That Is Unique to Westlake 63 63 Westlake#64Significant Opportunity in Wood Conversion Exterior Trim and Moldings Market Polymers & Other Alternatives ■Wood ... 64 80% ~$3B 20% +1% Market Share Increase Source: Principia = ~$30M Annual Composite Sales . Westlake Royal Building Products is focused on converting wood to our leading brand of trim & molding polymers that have significantly lower maintenance costs Homeowners want easy to maintain, beautiful and durable exteriors not a weekend maintenance list and contractors want to meet that need Accommodating conversion across every housing type by offering exterior and interior products to match any architectural style ranging from Victorian restorations to today's modern farmhouse Westlake#65Displacing Other Roofing Applications Relative Performance of Roofing Materials Wind Resistant Fire Resistant Impact Resistant Freeze/Thaw Resistant Maintenance Free Color Options 65 Strength Westlake Royal Roofing Solutions™ Asphalt Natural Slate Natural Shake Partial Strength Lower Performance Source: Principia, June 2021 • #1 provider of premium residential roofing products DaVinci composite roofing is competitively priced between high-end premium asphalt and natural slate and shake product offerings Boral Building Products acquisition adds leading positions in concrete, clay tile, and stone coated steel roofing product offerings DaVinci, Clay, Concrete, and Stone Coated Steel products all achieve a Class A fire rating and a class 4 impact rating for hail protection U.S. Total Residential Roofing Market 16% ■ Asphalt 7% Metal ~$15B 10% 67% ■Clay & Concrete Tile ■ Other Westlake#6666 99 Westlake Pipe & Fittings and Global Compounds Secular trends driving housing demand growth positions Westlake to capture lasting benefits Growth in consumer durables drives demand for specialty formulas in PVC compounds and spurs innovation product pipeline U.S. infrastructure bill and material substitution from legacy non-PVC pipe provides an opportunity for accelerated growth in pipe & fittings Increased spending on the power grid, broadband and electrification plays well to global compounds product offering Westlake#67• PVC Miles Improving U.S. Water Infrastructure and Driving Growth 30,000 U.S. Water Infrastructure at a Glance Total U.S. PVC & PVC-O Forecast (in miles) 150 2022-2027 CAGR PVC -4% PVC-O -8% 26,000 Total -4-5% 28,000 24,000 22,000 125 100 75 15 50 50 20,000 25 2022E 2023F 2024F PVC 2025F -PVC-O 2026F 2027F 1.2 million miles of currently installed distribution pipe supply American drinking water with an average pipe age of 45 years PVC-O Miles 2021 Plastics Today survey indicates that engineers and municipal officials will use PVC pipe for ~65% of both new and replacement projects U.S. Infrastructure Bill will invest $55B to expand access to clean drinking water through new water infrastructure investment, rehabilitating existing lines and eliminating lead pipe • Westlake Pipe & Fitting's Complimentary Offering PVC-O Pipe: Modern solution meeting water delivery needs (launched by Westlake in 2021 & uses 40% less PVC) Municipal pipe & fitting systems: Offer full range of pipe and fittings for potable water and sewer installation Kitting & configure to order services: Only provider of assembled products that are customized to meet specifications saving the customer time and money Other Areas of PVC Growth Replacing aging materials such as asbestos, iron, steel, lead and concrete pipe with PVC across the U.S. for various applications Significant growth potential in Lasco from expansion in U.S. electrical conduit fittings coupled with greater penetration in Canadian drain, waste & vent and gas venting systems provides new high growth markets for Westlake New housing construction growth driving overall PVC resin demand including PVC pipe One of The Largest U.S. Producers of PVC Pipe & Fittings Primed For Growth 20 67 Source: Ducker PVC & PVCO Forecast, Plastics Today, Circle of Blue Westlake#68• . . . Global Compounds Provides a Value-Added Platform Across Attractive End-Markets Westlake's innovative rigid and flexible vinyl compounds form the elements of products spanning virtually every industrial and consumer need Westlake produces building product compound formulations for everything from gaskets, windows to flooring, roofing and wire and cable applications Westlake is a leading formulator of wire and cable compounds meeting the needs in a wide variety of applications to accommodate customer specific requirements • Westlake compounds are tailor-made for a variety of performance and compliance needs in medical, packaging and equipment . . Westlake offers tailor-made solutions to exceed the fast-paced expectations of the automotive market where Westlake is the #1 global supplier of slush mold compounds for automotive interiors Large market opportunity driven by increased power grid and broadband spend from the U.S. Infrastructure Bill that play well to our PVC wire & cable flexible compounds as well as injection molded rigid electrical components product offering Westlake Global Compounds U.S. Infrastructure Bill on Electrification New Spending On power grid On broadband Total New Spend $ Amount $73B $65B $138B 68 Westlake#69Operational Excellence, Inorganic Growth Opportunities & Sustainability 69 Driving operational excellence by leveraging Westlake's core principles of safety, people focus, quality and continuous improvement Value creation from attractive market opportunities and integration of recent acquisitions that support margin improvement and lower operating costs Meaningful M&A opportunities supported by Westlake's history of successful acquisitions, fragmented industry and disciplined. investment approach Sustainability is integrated in our products and manufacturing operations Westlake#70Driving Operational Excellence Across HIP Operational Excellence Initiatives Automation . Ongoing automation and digitization investments such as material handling robotics and advanced controls to drive further safety and productivity improvements Value Creation Cross-selling opportunities: including stone to trim and moldings to complement our vinyl and polyash siding, roofing and windows to complete new construction or repairs and remodel Operational synergies from recent acquisitions expected to provide additional savings particularly in procurement and logistics Operational Excellence Benefits Vertical Integration Vertically Integrated Cross Functional Innovation Earnings Stability PEM ~ W Leveraging M&A HIP Greater Demand Insight Discipline • PVC integration: having a dedicated offtake at multiple sites from a common supplier provides savings • Security of supply and technology links for product innovation More Investment Opportunities • Greater Access to Capital Being under the Westlake umbrella provides significant and easily accessible capital to fuel operational improvements and growth Leveraging a Long History of Production Wisdom Westlake's production know how and best-in-class operations from the legacy PEM business provides a strong foundation to further advance production capabilities and efficiencies in HIP 70 70 Westlake#71Opportunities to Strengthen Range of Offerings Targeted Categories to Expand Our Portfolio of Branded Products 71 Structures Foundation Roof Westlake Pipe & Fittings Westlake Royal Building Products Functional Elements Windows Electrical Plumbing Westlake Westlake Westlake Royal Building Products Global Compounds Pipe & Fittings Ample Opportunity to Pursue Acquisitions Finishes Siding Trim & Shutters Flooring Westlake Royal Building Products Westlake Royal Building Products" Westlake Polyethylene Building Products Market Remains Fragmented 4 Increases production Introduces new technology and specialty products M&A Criteria 1 Acquire assets below replacement cost at an attractive price 2 Improve vertical product integration 5 3 Reduces cost of production Leverages and grows access to 6 current and new markets Westlake#72Focused on Sustainability in Products and Operations Our acquisition of Dimex, a leader in cost-saving and green initiatives and one of the largest recyclers of plastic materials, underscores our longstanding commitment to stewardship of the environment and recycling, and to taking actions that contribute to a sustainable, circular economy Westlake Pipe & Fittings PVC-O pipe delivers water solutions with 40% less PVC while maintaining the same performance standards as a standard PVC pipe Customer Products Unified STEEL STONE COATED ROOFING Stone-Coated -89° Attic Temp NEWPOINT CONCRETE ROOF TILE Concrete Tile ~94° Attic Temp Asphalt Shingle ~140°-150° Attic Temp Unified SteelTM Cool Roof System 72 Westlake vinyl building products are durable and are entirely recyclable and remains committed to providing sustainable products and solutions Westlake Dimex has been manufacturing consumer and industrial products using recycled PVC and polyethylene for 25 years and is committed to expanding its circular product offering According to Oak Ridge National Laboratory, an independent testing agency, a family in a typical single-family house with a Westlake Royal Building Solutions Energy Efficient Cool Roof System could save up to 22% per year on heating and cooling costs compared to the standard composition asphalt shingle roof Westlake#73HIP's Economic Engine Housing & Infrastructure Core Market Drivers - Strong market position with the #1 #3 positions across most product categories • Improving housing and construction trends due to underbuilding • Favorable demographic trends Organic Growth Enhancers • Integration of recent acquisitions across a larger distribution network • Improved operating rates through increased shifts and technology investment • Enhanced branding at the business and product level • Expanding compounding capacity in growing markets . Inorganic Growth Opportunities Penetrating new end markets and adjacencies through acquisitions Applying Westlake's disciplined and opportunistic M&A approach across a fragmented industry • • Margin Enhancers Producing recycled flexible PVC and TPE compounds provides margin benefits • Delivering on cost synergies from acquisitions • High-valued compounding capacity • Improved PVCO margins • Lowering cost per unit through automation and throughput Financial Outputs High teens EBTIDA margin • FCF generation improvement • Reinvestment in production and product innovation 73 33 Westlake#74Key Takeaways 74 1 2 3 4 5 Leading market positions across a wide array of products supporting housing and construction activity Positioned for growth in favorable housing dynamics in the U.S. supported by a decade of underbuilding and favorable demographics Creating value through product integration, exploiting cross-selling opportunities through an expanded offering and building further brand recognition Accelerated growth opportunity stemming from the U.S. infrastructure bill material substitution and electrification trends Driving margin expansion opportunities through focus on operational excellence, integrating recent acquisitions and leveraging low-cost position Westlake#75Q&A#762022 Investor Day Presentation April 7, 2022 Westlake#7777 Sustainable Commitment with Investments, Products and Goals Larry Schubert Vice President Corporate Development & Sustainability Westlake#78Sustainability Focus Grounded in Longstanding Values Our CORE VALUES, in place since our founding in 1986, are grounded in socially responsible business practices and continue to be a guiding light for our evolving sustainability strategy 78 Health, Safety & Environment ("HSE") Our People Quality & Continuous Improvement Competitiveness Citizenship Proactive Environmental Site Footprint Trade Association Voice Sustainable Products Westlake Sustainability Communications to Engage Constituencies ESG Ratings Engagement Westlake#79Material Factors to Westlake We engaged a third-party leading research firm to perform a materiality assessment for Westlake in 2021. The materiality assessment identified a list of 14 ESG topics as being particular areas of focus, for us and our stakeholders We consider these top 14 material topics and our related efforts throughout this report under our 5 ESG Pillars, as determined by our materiality assessment: Resilience Operations Importance to Stakeholders 5 Materiality Matrix 4 9 8 11 6 7 12 10 14 15 13 18 17 19 20 16 21 22 Products People Community Impact on Westlake 79 Source for Materiality Assessment and all other data in the presentation: 2020 Westlake ESG Report 2 1 Process Safety + Emergency Response 2 Value Generation + Distribution 3 Health + Safety 4 3 8 Competitiveness + Reliability Environmental Compliance Ethics + Compliance Air Quality Climate Change + Energy Waste + Circular Economy Community Engagement + Impact Management 10 Water + Effluent 11 12 Diversity + Inclusion 13 Cyber Security 14 Product Responsibility 15 Employee Engagement 16 Public Policy 17 Training + Development 18 19 Responsible Supply Chain Management Employee Recruitment + Retention 20 Human Rights 21 Biodiversity LO 5 22 Community Development Westlake#80Enhancing Your Life Every Day Our products benefit society and enhance people's lives everyday through a variety of applications including: 80 Our building and construction products strengthen the world's communities by supporting more durable and energy-efficient structures and beautifying the places we live, work and play Our consumer lifestyle products are found in everyday solutions, from the dashboard of your car to the cardboard box delivered to your house Our packaging & healthcare products help preserve the freshness of our food and play a key role in the medical devices that keep us healthy, from intravenous bags to dialysis machines Westlake#81Expanding our portfolio of environmentally safe products We guard against our products going anywhere besides their intended use and seek to reduce waste by diverting unused inputs and other materials from landfills We understand the importance of reducing the environmental impacts of our feedstocks, production and usage, and are developing exciting innovations, together with our customers, to meet their objectives while also reducing environmental impacts ALLIANCE TO AND PLASTIC WASTE FPA Flexible Pack Association MRFF MEMBER PARTICIPATING IN +VANTAGE VSC vinyl VINYL SUSTAINABILITY COUNCIL Packaging MATERIALS RECOVERY FOR THE FUTURE 81 Westlake#82Product Innovation Spotlight on GreenVin™ • We are expanding our portfolio of sustainable products and prioritizing implementation of additional environmentally friendly innovation by incorporating recycled and bio-derived materials while maintaining product quality: Low-Carbon PVC and Caustic Soda - meets market demand for lower-carbon plastics and materials (see "Spotlight" on the right) - One Pellet Solution an efficient polyethylene solution incorporating post consumer resin (PCR) while maintaining the strength of plastic materials • Dimex - one of the largest processors of recycled plastic materials in the United States and the leading supplier of recycled flexible PVC and TPE compounds; includes products such as the Motion Tex exercise equipment mat MotionText • Aspire Vinyl - a bio-based solution for building materials; the first phthalate-free bio-based compound with more than 35% renewable content Epoxy - given its lightweight properties, epoxy is used in coatings and composites to fabricate wind turbine blades and light-weight aerospace and automotive components Molecular-Oriented PVC (PVC-O) Pipe - engineering solution for lighter-weight, more durable PVC pipe that is manufactured with a lower-carbon footprint than any other water main pipe materials; used in housing and infrastructure One Pellet Solution Exercise Equipment Mats I Composites - Renewable Energy Light Weighting Pipe Product line encompasses PVC and Caustic Soda Market demand for lower-carbon plastics and materials is rising rapidly as more customers seek ways to reduce their carbon footprints and meet their sustainability goals. power Green Vin TM uses renewable in the manufacturing process, thus meeting this increasingly important market demand. GreenVin TM PVC performs as well as traditional PVC while offering a more climate-friendly product. 82 Westlake#83Reducing Our Environmental Impact CO₂ reduction progress to date We are making progress to decrease our environmental footprint across multiple areas of focus* NOx Emission Rate (tons) 28.6% (11,012 7,860) reduction SOx Emission Rate (tons) (2,603-59) 97.7% reduction Water Usage (MM gal) 5.2% (18,220 17, 277) reduction 0.6 CO₂e Emission Rate (ton CO2e per ton production) Total Waste (tons) 31.1% 0.3 (228,587 87,616) reduction 2016 2017 2018 2019 83 *From a 2016 baseline 2020 Scope 2 emissions are indirect GHG emissions associated with the purchase of electricity, steam, heat or cooling Scope 1 emissions are direct greenhouse (GHG) emissions that occur from sources that are controlled or owned by an organization (e.g., emissions associated with fuel combustion in boilers, furnaces or vehicles) Westlake#842030 Carbon Emissions Reduction Goal On February 21, 2022 we officially announced a carbon emissions reduction goal: Reduce Scope 1 & 2 CO2 emission intensity 20% by 2030* To further reduce our carbon footprint, we are allocating capital to both proven and emerging technologies, including additional product and operational innovations This includes: Energy-efficiency projects • Increasing power from less carbon-intensive electricity providers Adding more hydrogen as a fuel gas Other continuous operational improvements "Westlake has been lowering carbon intensity every year through our continuous improvement efforts and capital investments. As a manufacturer of essential products that enhance people's lives every day, we are committed to innovating more sustainable products and producing them in a more sustainable fashion." - Albert Chao, Westlake President and CEO 84 *From a 2016 baseline Westlake#85Employee Safety is Our Top Priority 85 Westlake's goal is to have all U.S. chemical sites achieve Star status under OSHA'S VPP program by 2024 Drive to Zero Westlake's injury rates for 2021 were near historic lows for the company and continues consistent placement among the best performers in our industry peer group Data Driven Safety As part of our HSE management system, safety metrics are continually analyzed for improvement opportunities across all Westlake facilities WASH WATER We've grown to 16,000+ team members globally. Keeping our people safe today is just as important as it was when we started with just 100 employees in 1986. We are proud that our safety efforts consistently rank Westlake in the top quartile - or 25% of performance for our industry categories "We have put safety first, and it will remain our number one priority. No job can be so important or urgent that people cannot take the time to work safely. Life is precious and irreplaceable." - TT Chao, Westlake Founder 3.0 Total Recordable Injury Rate (TRIR) (Injuries per 200,000 work-hours) BLS Average 1.5 BLS 1st Quartile 0.0 2016 2017 2018 2019 2020 Westlake#86Reinvesting in Our Communities We support our communities - where we live, work and play - through investments of our time and financial resources, and by being prepared for possible situations that could impact our communities Our support takes many forms, depending on what is needed most - from philanthropy dollars to donations of goods and employee volunteering and charitable contributions We are guided by a commitment to community engagement and support which takes two forms: Philanthropy We support the advancement of education for students at McNeese State University in Lake Charles, Louisiana • We consistently provide financial support to the United Way; in 2021, employees in Houston made donations totaling over $310,000 to support the United Way's mission of building stronger communities We are proud that employee contributions to the United Way Southwest Louisiana exceeded $950,000 making it the largest employee drive in the region. Employees in Kentucky, Louisiana, Mississippi, Texas and West Virginia donated $1.4 million to the United Way or equivalent agencies in 2021 Employee Volunteering During 2019, Westlake employees (+ family and friends) donated 10,000 hours to community service activities Veno Our Objective is to Maintain the Feeling of our Family Organization by Uplifting and Supporting our Local Communities 86 Westlake#87Westlake Commitment to Robust ESG Governance We are proud to have received the following awards from EcoVadis - the world's largest provider of business sustainability ratings Board Oversight Executive Oversight Top 1% Aligned with SDGs BRONZE 2020 ecovadis Sustainability Rating PLATINUM 2020 ecovadis CSR Rating Westlake Corporation 87 Epoxy GOLD 2020 ecovadis CSR Rating SILVER 2020 ecovadis Sustainability Rating Vinnolit Our Board of Directors had previously delegated sustainability oversight to the Board's Corporate Risk Committee, but more recently amended the Committee charter, changing its name to the Corporate Risk and Sustainability Committee In 2020, we created a new executive level role, Vice President - Sustainability, which reports directly to our CFO Aligned with Frameworks The United Nations Sustainable Development Goals (SDGs) guide our sustainability approach. Collectively, the 17 SDGs provide a blueprint for a better and more sustainable future for all people and for the planet Our disclosure is informed by the SASB industry standard and Global Reporting Initiative (GRI) framework; starting in our 2022 report, we will also begin use of the Task Force of Climate-related Financial Disclosures (TCFD) Nakan SUSTAINABILITY ACCOUNTING SASB STANDARDS BOARD SUSTAINABLE DEVELOPMENT GRI GOALS TM Empowering Sustainable Decisions TCFD TASK FORCE ON CLIMATE-RELATED FINANCIAL DISCLOSURES Westlake#88Key Messages on Westlake's Sustainability Approach Enhancing Your Life Everyday 88 Grounded in Sustainable 1 Business Practices Proactively Solving 2 Environmental Challenges Sustainable Products 3 Innovating for Our Customers & the Future Proactive Environmental Site Footprint Westlake Sustainability Communications to Engage Constituencies 4 Advancing a Circular Economy 5 Pursuing an Ambitious & Trade Association Voice ESG Ratings Engagement Optimistic Outlook Westlake#8989 Strong History of Financial Returns and Capital Discipline Steven Bender Executive Vice President & Chief Financial Officer Westlake#90What You Will Hear Today 1 Proven track record of driving growth, capturing synergies and improving margins through the Westlake operating platform and capital discipline 2 Significant opportunity to enhance returns by optimizing and integrating recent acquisitions in excess of $3.8 billion 3 Compelling growth opportunities across both segments driven by strong positions in markets with favorable supply dynamics and structural benefits 4 Strong balance sheet supports management's long history of being excellent stewards of capital through investment and M&A 5 LO 90 90 Emphasizing the longer-term potential of Westlake Westlake#91Track Record Demonstrates Commitment to Stronger Results Sales 10-year History of Significant Improvement Earnings Per Share EBITDA Free Cash Flow Per Share 91 $3.6B ~14% CAGR $3.7B $11.8B -21% CAGR $15.58 -19% CAGR -26% CAGR $13.57 $2.88 2012 2021 2012 • $0.7B $1.65 2021 2012 EBITDA 20.9% Margin 2021 31.4% 2012 2021 Focused Growth • Chain Integration Higher Sales, Margins and Returns Attributable to: • Asset Quality • Operating Rate Advantages · • Leading Market Position with Specialty Focus Globally Advantaged Low-Cost Feedstock Position Proven Compounding of Growth and Profitability Westlake#92Growth Fueled by Consistent Capital Discipline Major Investment History Ten Year Average of Returns and Margins Acquisitions Expansions Vinnolit (2014) Axiall (2016) NAKAN (2019) Lake Charles Ethylene (2014) Calvert City Ethylene (2014) Calvert City PVC (2014) 25% 20% DaVinci (2019) Lake Charles Ethylene (2016) LACC (2019) Calvert City (2017) 15% LASCO (2021) Geismar Chlor-Alkali (2019) 2012-2021 avg. of 10% vs. peer avg. of 6% Dimex (2021) Geismar PVC (2019) Boral (2021) Plaquemine PVC (2020) 10% Epoxy (2022) Gendorf VCM & C-A (2021) Significant investment optionality focused on: 5% . Increased margins due to integration • Operating rate advantages • Feedstock advantages • Asset quality Product mix • Strategic growth 2012-2021 avg. of 16% vs. peer avg. of 12% 2012-2021 avg. of 24% vs. peer avg. of 14% 0% Return on Assets Return on Capital Employed EBITDA Margin ■ Westlake ■Chemical Peers ■Building Peers Resulting in outsized returns and margins 92 22 Source: Bloomberg, Peer averages as of latest available year Chemical peers includes: EMN, HUN, OLN, LYB, DOW 35+ Year Record of Value Creative Capital Allocation Building products peer includes: JHX, FBHS, MAS, PGTI, DOOR, CNR, JELD Westlake#93History of Delivering Outsized Shareholder Returns Unique Elements Driving Westlake Performance: Share Price Performance Since IPO (indexed to 100)* 1 Positioned for profitable growth 1800 in new markets and leveraging 1600 2 our globally advantaged cost position Deep competitive moat with leading market positions in our PEM and HIP segments with value-added products with 1400 1200 1000 a significant R&D and innovation pipeline 3 Favorable market outlook with strong demand drivers and a limited industry capacity addition outlook 4 Strong cash flows and balance sheet supports growth initiatives 5 Sustainable products offering and goals 800 600 400 200 M 0 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 WLK S&P 500 S&P 500 Chemicals Index S&P 500 Construction Material Index Strong Capital Management and Operational Excellence Has Driven Exceptional Long Term Value Creation 33 93 Source: FactSet, includes WLK, S&P 500, S&P 500 Chemicals Index and S&P 500 Construction Material Index as of March 31 2022 Westlake#94Westlake's Portfolio Evolution 2016 2021 ~$5.1B in sales 21.4% EBITDA Margin Portfolio Additions Axiall Increasing PVC and chlor-alkali capacity, specialty compounds & exterior building products DaVinci Increasing specialty roofing materials exposure Boral Building Products Significantly increasing building product exposure Dimex Adding new consumer product capacity and increased green initiatives Nakan Increasing specialty PVC compounds capacity LACC Cracker Increasing ethylene ownership to further integrate low-cost production LASCO Fittings Adding market leader in small diameter PVC pipe fittings Ероху Expanding product offering into Epoxy and added new markets Organic Investments Geismar PVC expansion Strengthened Attributes Shift to margin enhancing materials in PVC, PE and Epoxy ~$12B in sales Calvert City Ethylene expansion PVC Compound Capacity expansion Gendorf, Germany PVC expansion Lake Charles Ethylene expansion Transformed HIP portfolio with market leading high value-added products Significant near-term upside in: Global structural shortage in chlorovinyls 31.4% EBITDA Margin Strong PEM demand driven by construction, industrial and manufacturing activity Strong housing and repair and remodel demand driven by a decade of underbuilding and favorable demographics Setting The Stage For Significant Growth and Value Creation 94 54 Westlake#95Significant Near-Term Upside 95 1 Structural short supply in Chlorovinyls Globally Significant industry under-investment positions Westlake to benefit as demand continues to grow 4 Specific trends in consumer packaging and durable products met with Westlake's specialty differentiated PE & PVC Westlake is a leading producer of specialty PVC and PE driving premium margins 2 Strong global demand in PVC, caustic. soda and chlorine driven by construction, industrial and manufacturing activity 5 Epoxy trends in EV light weighting and wind energy as well as composite and coating applications Projected global GDP growth outpacing production and 5-year averages Epoxy resins are present everywhere in high growth and sustainable oriented products 3 Decade plus of underbuilding in residential homes Underbuilding since 2007-2009 creates significant deficit in available homes Favorable demographics driving 6 strong demand for residential housing Millennial and GenX represent majority of population driving housing demand Strong Capital Management and Operational Excellence Has Driven Exceptional Long Term Value Creation Westlake#96Macro Trends Driving Demand for Westlake's Performance and Building Products 1 Westlake's "Core" business is benefitting from strong macro trends in demand and structural undersupply in higher margin products • Structural up-shift in demand in housing and construction activity driving PVC and building material growth • Consumer demand for wind energy, light weighting, coatings, adhesives, electrification, and packaging solutions 2 The acquisitions in 2021 and 2022 bring value-added products and market leading positions with higher margins in both new and existing markets Epoxy Segment PEM Benefitting from mega trends in wind energy, light weighting, electrification and construction +$3.8B of Lasco Fittings HIP acquisitions during 2021 Boral North America HIP Benefitting from electrification trends coupled with increased spending from the U.S. infrastructure bill on water transmission Structural underbuilding coupled with work from home and demographic trends strongly support growth in housing demand and Q1 2022 Dimex HIP Recycled materials and customer oriented sustainable products drive value added growth 96 96 Strongly Positioned for Future Growth Westlake#9797 46 Compelling Portfolio of Growth Opportunities Housing & Infrastructure Products Performance & Essential Materials Chloro-Vinyl Dynamics Geismar PVC capacity additions delivers near-term value Newly announced EDC, VCM and PVC in growth markets to drive further bottom-line growth Favorable Housing Trends Over 10 years of underbuilding in residential housing Demographics and work from home flexibility supporting increased housing demand • • New Growth Lever With Epoxy Trends in wind energy, light weighting, coatings and electrification resulting in demand above global GDP Global scale manufacturing supported with R&D drive continued specialization Recurring R&R Revenue Stream Predictable demand CAGR supports growth in R&R products of Westlake • Rising value in home equity supports continued R&R spending • LDPE Opportunity Growing specialty and differentiated PE to drive higher margins Ongoing product formulation and sustainable product solutions drive closer customer relationships Infrastructure Bill Long term demand supports Westlake's leading PVC pipe and fittings offering Product substitution of PVC over lead, iron and concrete pipe Global Macro Trends Driving Demand for Westlake's Product Portfolio Westlake#98Net Debt to EBITDA Westlake History of Maintaining A Strong Balance Sheet Strong Balance Sheet With Significant Availability to Support Future Growth and Investment Cash $1,908M Fully Undrawn Revolver Total Available Liquidity Total Debt $1,000M ~$3,000M 0.9x VS. 3.0x $5,180M Net Debt to EBITDA Peer Average As of December 31st, 2021 Debt maturity life of ~17 years compared to peer average of ~7 years Strong Credit Ratings Supports Additional Funding 6.0x 5.0x 4.0x 3.0x 2.0x 1.0x 0.0x S&P BBB Maintaining strong balance sheet while making significant investments; Able to further de-lever in 2022 Temporary Increase in debt from Axiall acquisition Reduced debt by $500M+ Retired $1.2B of debt Retired $254MM of debt Funded four transformational acquisitions Fitch BBB Moody's Baa2 Westlake Chemical Partners (WLKP) & Westlake Corporation: • Allows Westlake Corporation to capture a premium EBITDA multiple and reinvest it back into its core businesses, providing cost effective capital to fund future needs Over $500M of equity proceeds raised by Westlake Partners has been reinvested by Westlake Corporation to generate incremental EBITDA at WLK 2015 98 2016 WLK 2017 2018 2019 2020 2021 Chemical Building Source: Bloomberg, Peer averages as of latest available year Chemical peers includes: EMN, HUN, OLN, LYB, DOW; Building products peer includes: JHX, FBHS, MAS, PGTI, DOOR, CNR, JELD Westlake#99Investment Criteria to Drive Growth Strategic Filters Adjacent Applications and Products in Core HIP & PEM Segments 3 Improves Vertical Integration Strategy to Further Reduce Costs Buying Below Replacement Costs Enhances Production and Technology Capabilities Disciplined and Opportunistic Approach to Acquisition Opportunities Supporting Key Attributes 2 Deep competitive moat 5 Sustainable Product Offering 1 Positioned for profitable growth 4 Favorable market outlook Strong cash flows and balance sheet 99 99 Defining a Proven M&A Strategy to Drive Bottom-Line Growth & Peer Leading Return on Capital Westlake#100Major Capital Investment Opportunities 100 Continuous Improvement & Digital Savings ⚫ Al and machine learning investments to optimize plant operations and logistics • Plant maintenance optimization through Al, machine learning and digitalization . Robotics to automate processes Capacity Additions ⚫ EDC, VCM and PVC debottlenecks significantly below USGC brownfield capital cost • Leverages strength of caustic and PVC chain independently and expands reach of low cost energy advantage Expect ROCE greater than 15% over the cycle Automating New HIP Production Capacity • Increasing automating packaging and logistics • Expanding windows production with investments to improve manufacturing practices . Driving production maximization mindset from PEM to HIP Westlake#101Continuing to Allocate Capital Efficiently $491 Reliability and Growth Investments ($ in millions) ~$3,800 $629 $577 $787 $702 ~$340 $525 ~$3,800 $658 M 2015 2016 2017 2018 2019 2020 2021/2022 Acquisitions Growth & Maintenance Capex . . • . Increases vertical integration Investments aligned with core strengths driving high returns Access to new, growing and sustainable markets Expands capabilities for growth in value-added products and solutions Expands global reach of our products Prudent spending to maintain asset base Integrated production chain driving reliability Higher return incremental growth products in attractive markets Structural and secular strength in housing presents growth opportunities Investments and innovations Growing pipeline of sustainable products 101 Westlake#1021 2 Successful History of M&A Investment Criteria Adjacent applications and products in core HIP and PEM segments Improves vertical integration strategy to further reduce costs • • . Focus . Investment below replacement cost Expands specialty PE offering Product integration improvement Specialty PVC offering expands market access Investment below replacement cost History of Successful Integration Acquisition of specialty PE from Eastman Chemical Acquisition of specialty PVC leader Vinnolit 3 Buying below replacement costs 4 5 Enhances production and technology capabilities Disciplined and opportunistic approach to acquisition opportunities Supporting Key Attributes • Positioned for profitable growth • ⚫ Defensible longer-term . Favorable market outlook • Strong cashflow and balance sheet • Sustainable product offering 102 . Investment below replacement cost Product integration • Reduces cost and increases production . . Rich mix of leading brand products Expands geographic reach Product integration and cross-selling capabilities • Investment below replacement cost • Provides access to current & new markets • Improves integration . Investment at attractive price • Reduces cost of production • Improves vertical integration Acquisition of Axiall Corporation Acquisition of Boral North America, LASCO, Dimex Epoxy acquisition from Hexion Acquired 50% of LACC ethylene joint venture Westlake#103Strategic Actions Enhance Underlying Market Growth 2021 EBITDA $3.7B Product Portfolio Well Positioned For Growth Across Several Channels 1986-2021: Sales CAGR 16% & 10-Year EBITDA CAGR of ~19% Industrial & Manufacturing Global GDP Multiplier 1.0x Global presence in Chlor-Alkali serving industrial and manufacturing customers Specialty Products & Capacity Additions Global GDP Multiplier >1.5x Advantaged markets such as specialty low density PE and specialty PVC tied to consumer demand levered by lower-risk, higher returning debottlenecks and expansions Addition of Epoxies Global GDP Multiplier >1.5x Expands exposure in electrification, EV light weighting, wind power and renewables FUTURE EBITDA Housing Growth & Infrastructure Investment Global GDP Multiplier >1.0x Market leading value-added brands in the growing housing market with favorable demographics coupled with the U.S. Infrastructure Bill provides long-term demand 103 Westlake#104Summarizing Westlake's Economic Engine Westlake Operating System • Core Market Drivers Organic Growth Enhancers • Inorganic Growth Opportunities Epoxy brings new growth platform Margin Enhancers Investing in automation and digitization Financial Outputs • Investing organically to • increase integration Acquiring assets and technology to access higher- value added products and markets • Achieving operational excellence through efficient allocation of capital, continuous improvement, empowering employees and focus on sustainability • Leveraging best-in-class • technology and processes inherited through M&A across global footprint Vertical integration between 104 PEM and HIP Performance & Essential Materials Housing & Infrastructure • Advantaged geographic footprint for low-cost and resilient production Significant feedstock and production capacity Positive supply and demand dynamics • Investing in superior in-house R&D Leveraging global sales team • Vertical / Downstream integration PVC, EDC & VCM expansions • Penetrating new and sustainable end markets and adjacencies through acquisitions • Shifting mix to higher growth and higher margin applications • Outperforming peers in EBITDA margin, ROCE and ROA . Strong market position • Integration of recent • Boral, Lasco and Dimex • with the #1 - #3 positions across most product categories Favorable housing and construction trends due to underbuilding • Demographic trends . acquisitions provides cross-selling opportunities and more complete product offering across distribution network Top-tier market positions drives market penetration • bring leadership positions and new platforms for growth • Penetrating new end markets and adjacencies through acquisitions Producing recycled flexible PVC and PE compounds provides margin benefits Delivering on cost synergies from acquisitions High-valued compounding capacity Improved PVCO margins • Lowering cost per unit through automation and throughput • • FCF generation improvement High teens EBITDA margin in HIP Reinvestment in production and product innovation Westlake#105Key Takeaways 105 1 Proven track record of driving growth, capturing synergies and improving margins 2 3 Early stages of realizing both topline and bottom-line benefits as we integrate over $3.8B in acquisitions that occurred in 2021 and Q1 2022 Compelling growth opportunities across both segments driven by strong positions in markets with favorable supply and demand dynamics and structural benefits 4 5 Inorganic growth strongly supported by healthy balance sheet and management's long track record of being excellent stewards of capital Disciplined capital allocation with a shareholder oriented economic value added (EVA) approach Westlake#106106 Key Takeaways and Closing Remarks Albert Chao President & Chief Executive Officer Westlake#107Key Takeaways of Westlake's Compelling Story 1 2 3 4 LO Performance & Essential Materials (PEM) is a leading producer of products that improve everyday life with strong specialty and downstream focus and a profitable growth outlook driven by favorable demand trends and capacity expansions Housing & Infrastructure Products (HIP) has market leading brands with strong growth prospects supported by demand trends in U.S. residential housing and repair and remodeling spend coupled with benefits from increased infrastructure spend and electrification trends Well positioned to execute on profitable growth by leveraging our globally advantaged low-cost position, shifting mix to more downstream and higher margin products, fully integrating $3.8B of acquisitions, and driving operational excellence with a focus on continuous improvement throughout the organization Maintaining a disciplined and proven investment culture with a focus on economic value added (EVA) that is strongly supported by a healthy balance sheet and free cash generation profile Executing on growth with a commitment to sustainability and ESG by incorporating recycled material in our high-quality products and establishing long-term carbon emission reduction goals Thank You For Attending and Showing Interest in Westlake's Exciting Future 107 Westlake#108Q&A#109Westlake#110Reconciliation of Westlake EBITDA to Net Income and to Cash Flow from Operating Activities 110 Net cash provided by operating activities Changes in operating assets and liabilities and other Deferred income taxes Net income Less: Other income, net Interest expense Benefit from (provision for) income taxes Income from operations Add: Depreciation and amortization Other income, net EBITDA 2021 2012 (In millions of dollars) 2,394 S 624 (301) (244) (23) 2,070 386 53 13 (176) (43) (607) (199) 2,800 615 840 145 53 13 $ 3,693 $ 773 This presentation includes the non-GAAP measure EBITDA. A reconciliation to net income and to cash flow from operating activities is included above. Westlake#111Safe Harbor Language This presentation contains certain forward-looking statements including statements regarding future profitable growth in both of our segments, market outlook, margin improvement for all of our products, maximizing shareholder value, housing and infrastructure market trends, sustainability goals and supply and demand dynamics as they relate to our products. 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; supply chain constraints; uncertainties associated with the United States, Europe and worldwide economies, including those due to war in Ukraine, political tensions in the Middle East 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; the COVID-19 pandemic and the response thereto; 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; 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 111 Steve Bender Executive Vice President & Chief Financial Officer Westlake Chemical 2801 Post Oak Boulevard, Suite 600 Houston, Texas 77056 713-960-9111 Jeff Holy Vice President & Treasurer Westlake