Westlake Growth & Investment Strategy

Net 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

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