Westlake Growth & Investment Strategy

Westlake'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

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