Slide 1: Earnings Presentation 2Q 2026
Earnings Presentation 2Q 2026 1
Slide 2: Second Quarter 2026 Highlights
Second Quarter 2026 Highlights Significant net income and EBITDA improvement 2Q 2026 Financial Results $3.3B $679M $1.9B Net Sales EBITDA(1) Cash, Equivalents and Investments(2) • Higher global oil prices, as a result of the conflict in the Middle East, contributed to PEM’s 21% higher QoQ average sa
Slide 3: Westlake Corporation 2Q 2026
Westlake Corporation 2Q 2026 (1) ($ in millions) 2Q'26 1Q'26 QoQ% 2Q'25 YoY% Higher average sales price drove a Sales $3,271 $2,652 23% $2,953 11% significant increase in EBITDA, particularly for PEM Operating Income (Loss)(1,2) $364 ($87) N.M. $21 1,633% EBITDA(1,2,3) Housing and Infrastructure Pro
Slide 4: Housing and Infrastructure Products (HIP) Segment Performance
Housing and Infrastructure Products (“HIP”) Segment Performance(1) Strong double-digit Pipe & Fittings ($ in millions) 2Q'26 1Q'26 QoQ% 2Q'25 YoY% sales volume growth from infrastructure spending Housing Products Sales $1,011 $788 28% $980 3% Infrastructure Products Sales $241 $205 18% $180 34% Tota
Slide 5: Housing and Infrastructure Products Update
Housing and Infrastructure Products Update 1 The diversity of HIP’s businesses (including housing products, pipe & fittings and compounds) is delivering sales and earnings growth at a time of lower North American residential construction activity 2 Longer-term housing fundamentals remain strong due
Slide 6: Performance and Essential Materials (PEM) Segment Performance
Performance and Essential Materials (“PEM”) Segment Performance(1) ($ in millions) 2Q'26 1Q'26 QoQ% 2Q'25 YoY% Significantly higher QoQ and YoY average sales price, particularly for Performance Materials Sales $1,236 $1,003 23% $1,022 21% polyethylene and PVC resin, $783 $656 19% $771 2% primarily d
Slide 7: Performance and Essential Materials Update
Performance and Essential Materials Update 1 Energy and feedstock advantages in North America (~85% of our global production capacity) and our high degree of vertical integration relative to the global industry positions us to benefit from the steepening global cost curve and serve our customers wel
Slide 8: Financial Reconciliations
Financial Reconciliations 8
Slide 9: Consolidated Statements of Operations
Consolidated Statements of Operations Three months ended Three months ended June 30, Six months ended June 30, March 31, 2026 2025 2026 2026 2025 (In millions of dollars, except per share data) Housing and Infrastructure Products Sales $ 1,252 $ 1,160 $ 993 $ 2,245 $ 2,156 Performance and Essential
Slide 10: Reconciliation of Net Income (Loss) and Earnings Per Diluted Share excl. Identified Items
Reconciliation of Net Income (Loss) Attributable to Westlake Corporation and Earnings (Loss) Per Diluted Share to Net Income (Loss) and Diluted Earnings (Loss) Per Share excl. Identified Items Three months ended Three months ended June 30, Six months ended June 30, March 31, 2026 2025 2026 2026 2025
Slide 11: Reconciliation of EBITDA excl. Identified Items to EBITDA, Net Income
Reconciliation of EBITDA excl. Identified Items to EBITDA, Net Income (Loss), Income (Loss) from Operations and Net Cash Provided by (Used for) Operating Activities Three months ended Three months ended June 30, Six months ended June 30, March 31, 2026 2025 2026 2026 2025 (In millions of dollars) Ne
Slide 12: Reconciliation of HIP, PEM and Corporate EBITDA to Operating Income
Reconciliation of HIP EBITDA excl. Identified Items, PEM EBITDA excl. Identified Items and Corporate EBITDA to Operating Income (Loss) Three months Three months ended June 30, ended March 31, Six months ended June 30, 2026 2025 2026 2026 2025 (In millions of dollars) Housing and Infrastructure Produ
Slide 13: Reconciliation of Free Cash Flow to Net Cash Provided by Operating Activities
Reconciliation of Free Cash Flow to Net Cash Provided by (Used for) Operating Activities Three months ended Three months ended June 30, Six months ended June 30, March 31, 2026 2025 2026 2026 2025 (In millions of dollars) Net cash provided by (used for) operating activities $ 318 $ 135 $ (94) $ 224
Slide 14: Safe Harbor Language
Safe Harbor Language This presentation contains certain forward-looking statements including statements regarding our cost savings objectives and our ability to maintain synergies, pricing and demand for our products and across the industrial and manufacturing sectors, global macroeconomic condition
Slide 15: Westlake
Vestlake