WESTLAKE (WLK)

• Westlake Corporation announced the pricing, expiration, and results of a cash tender offer for its 3.600% Senior Notes due 2026.
• The notes had an aggregate principal amount outstanding of $750,000,000, with a consideration of $996.32 per $1,000 principal amount.
• A total of $253,730,000 aggregate principal amount of notes were validly tendered, with an additional $10,733,000 reflected in Notices of Guaranteed Delivery.
• The tender offer expired on November 10, 2025, and the settlement date for validly tendered notes is expected on or about November 12, 2025.

• Westlake Corporation priced an underwritten public offering of $1.2 billion aggregate principal amount of senior unsecured notes.
• The offering consists of $600 million of 5.550% Senior Notes due 2035 and $600 million of 6.375% Senior Notes due 2055.
• The sale of the notes is scheduled to close on November 6, 2025.
• Westlake expects to receive approximately $1.185 billion in net proceeds, which it intends to use primarily to repurchase its outstanding 3.600% Senior Notes due 2026 (of which $750 million was outstanding as of September 30, 2025), with remaining proceeds for the pending acquisition of the ACI/Perplastic Group and general corporate purposes.

• Westlake Corporation (NYSE: WLK) has announced a proposed public offering of unsecured senior notes.
• The company intends to use the net proceeds from this offering to finance the repurchase of its outstanding 3.600% Senior Notes due 2026 through a cash tender offer.
• The timing and terms of the notes are subject to market and other conditions.

• Westlake Corporation initiated a cash tender offer for any and all of its outstanding 3.600% Senior Notes due 2026, which have an aggregate principal amount of $750,000,000.
• The tender offer is scheduled to expire at 5:00 p.m., New York City time, on November 10, 2025, unless extended.
• Concurrently, Westlake announced a proposed underwritten public offering of senior unsecured notes.
• The net proceeds from the new notes offering are intended to fund the repurchase of the 2026 Senior Notes and to finance the pending acquisition of the global compounding solutions businesses of the ACI/Perplastic Group.
• The primary goal of the tender offer is to extend the maturity of Westlake's outstanding indebtedness.

• Westlake Corporation commenced a cash tender offer for any and all of its outstanding 3.600% Senior Notes due 2026.
• The aggregate principal amount outstanding for these notes is $750,000,000.
• The purpose of the offer is to extend the maturity of Westlake's outstanding indebtedness, and it is conditioned upon the successful completion of a concurrent senior notes offering.
• The tender offer will expire at 5:00 p.m., New York City time, on November 10, 2025.
• The consideration payable will be determined by reference to a fixed spread plus the yield to maturity of a U.S. Treasury Reference Security at 2:00 p.m., New York City time, on November 10, 2025.

• Westlake Corporation reported Q3 2025 net sales of $2.8 billion and EBITDA of $313 million.
• The company recorded a non-cash impairment charge of $727 million for the goodwill associated with its North American chlorovinyls business unit and $17 million in accrued expenses for facility closures, totaling $744 million in identified items.
• The Housing and Infrastructure Products (HIP) segment demonstrated resilience with a 0.5% increase in sales volumes year-over-year, while the Performance and Essential Materials (PEM) segment faced challenges from softer global demand, resulting in $1.7 billion in sales and $90 million in EBITDA for Q3 2025.
• Westlake is pursuing significant cost reductions, targeting $100 million to $175 million in structural cost savings in 2025 and an additional $200 million in 2026, with the Pernis facility closure projected to yield over $100 million in annual savings starting next year.

• Westlake reported Net Sales of $2.8 billion and a Net Loss attributable to Westlake Corporation of $782 million, resulting in ($6.06) Diluted EPS for Q3 2025.
• The Q3 2025 results were significantly impacted by a non-cash goodwill impairment charge of $727 million, primarily affecting the Performance and Essential Materials (PEM) segment.
• The Housing and Infrastructure Products (HIP) segment recorded EBITDA of $215 million , but its 2025 revenue and EBITDA margin are now expected at the low end of previous guidance due to slower residential construction activity.
• The Performance and Essential Materials (PEM) segment's EBITDA improved 73% QoQ to $90 million , benefiting from a $36 million tailwind from better plant reliability.
• Westlake achieved ~$115 million in company-wide cost savings year-to-date, including $40 million in Q3 2025, towards its FY 2025 target of $150 million – $175 million, and is progressing towards $200 million in identified cost savings for 2026.

Westlake Corporation reported a net loss of $38 million, or $0.29 per share, on net sales of $2.8 billion and EBITDA of $313 million for the third quarter of 2025, excluding identified items. The company recorded a non-cash impairment charge of $727 million representing all goodwill associated with its North American chlorovinyls business unit within the Performance and Essential Materials (PEM) segment, due to an extended trough in the market.

The Housing and Infrastructure Products (HIP) segment delivered $215 million in EBITDA on $1.1 billion in sales, maintaining sales in line with the prior year despite a slowdown in North American residential construction. The PEM segment's EBITDA declined to $90 million on $1.7 billion in sales due to softer global demand and lower average sales prices.

Westlake is driving actions for an additional $200 million of structural cost reductions by 2026 for its PEM segment, building on $115 million achieved towards its 2025 target of $150 million-$175 million. The company updated its 2025 guidance, expecting HIP revenue and EBITDA margin to be towards the lower end of their previously guided ranges.

• Westlake reported Net Sales of $2.8 billion and EBITDA of $313 million for Q3 2025.
• The company recorded a net loss of ($782) million, or ($6.06) per diluted share, primarily driven by a $727 million non-cash goodwill impairment charge in the North America Chlorovinyls business. Excluding identified items, diluted EPS was ($0.29).
• The Housing and Infrastructure Products (HIP) segment reported $1,091 million in sales and $215 million in EBITDA. Due to slower residential construction, 2025 revenue and EBITDA margin for HIP are now expected at the low end of previously communicated ranges of $4.2-$4.4 billion in sales with a 20%-22% EBITDA margin.
• The Performance and Essential Materials (PEM) segment saw $1,747 million in sales and $90 million in EBITDA, with QoQ EBITDA improving due to a $36 million tailwind from better plant reliability.
• Westlake is progressing towards $200 million of identified company-wide cost savings in 2026, with the majority in the PEM segment, and anticipates a ~$100 million benefit in 2026 from the Pernis shutdown. The company has already achieved ~$115 million in cost savings year-to-date, including $40 million in Q3 2025.

• Westlake Corporation reported net sales of $2.8 billion and EBITDA of $313 million for Q3 2025, resulting in a net loss of $38 million or $0.29 per share.
• The company recorded a non-cash impairment charge of $727 million representing all of the goodwill associated with its North American chlorovinyls business unit within the Performance and Essential Materials (PEM) segment.
• For Q3 2025, the Housing and Infrastructure Products (HIP) segment delivered $215 million in EBITDA on $1.1 billion in sales, while the PEM segment reported $90 million in EBITDA on $1.7 billion in sales.
• Westlake is on track to achieve $100 million to $175 million in company-wide structural cost reductions for 2025, having achieved approximately $115 million by the end of Q3, and plans an additional $200 million in structural cost reductions for 2026.
• The company updated its 2025 guidance, now expecting HIP revenue at the lower end of $4.2 to $4.4 billion and HIP EBITDA margin at the lower end of 20% to 22%, with total capital expenditures remaining at approximately $900 million.