Westlake Chemical Partners LP

Good afternoon. Thank you for standing by. Welcome to the Westlake Chemical Partners Second Quarter 2026 Earnings Conference Call. During the presentation, all participants will be in a listen-only mode. After the speaker's remarks, you will be invited to participate in a question and answer session. As a reminder, this conference is being recorded today, August 4, 2026. I would now like to turn the call over to today's host, Jeff Hawley, Westlake Chemical Partners Vice President and Chief Accounting Officer. Sir, you may begin.

Thank you. Good afternoon everyone and welcome to the Westlake Chemical Partners second quarter 2026 conference call. I'm joined today by Albert Chao, our Executive Chairman, Jean-Marc Gilson, our President and CEO, John Boxt, our Senior Vice President and Chief Financial Officer, Steve Bender, our Special Advisor to the President, and other members of our management team. During this call, we refer to ourselves as Westlake Partners or The Partnership. References to Westlake refer to our parent company, Westlake Corporation, and references to Opco refer to Westlake Chemical Opco LP, a subsidiary of Westlake and The Partnership, which owns certain olefin assets. Additionally, when we refer to distributable cash flow, we are referring to Westlake Chemical Partners MLP distributable cash flow. Definitions of these terms are available on the partnership's website. Today, management is going to discuss certain topics that will contain forward-looking information that is based on management's beliefs as well as assumptions made by and information currently available to management. These forward-looking statements suggest predictions or expectations and thus are subject to risks or uncertainties. We encourage you to learn more about the factors that could lead our actual results to differ by reviewing the cautionary statements in our regulatory filings which are also available on our investor relations website. This morning, Westlake Partners issued a press release with details of our second quarter 2026 financial and operating results. This document is available in the press release section of our webpage at wlkpartners.com. A replay of today's call will be available beginning two hours after the conclusion of this call. The replay can be accessed via the partnership's website. Please note that information reported on this call speaks only as of today August 4th, 2026, and therefore you're advised that time sensitive information may no longer be accurate as of the time of any replay. I would finally advise you that this conference call is being broadcast live through an internet webcast system that can be accessed on our webpage at wlkpartners.com. Now, I would like to turn the call over to Jean-Marc Gilson. Jean-Marc?

Thank you Jeff and good afternoon everyone and thank you for joining us to discuss our second quarter 2026 results. In this morning's press release, we reported Westlake Partners second quarter 2026 net income of $14 million or 40 cents per unit, which was in line with our net income in the first quarter. The stability of Westlake Partners' business model is consistently demonstrated through our fixed-margin ETLN sales agreement, which minimizes market volatility and other production risks. The high degree of stability in cash flow, when paired with the predictability of our business, has enabled us to deliver the long history of reliable distributions and coverage. This quarter's distribution is the 48th consecutive quarterly distribution since our IPO in July of 2014, without any reductions. Before I turn the call over to John, I want to take this opportunity to thank Steve Bender for all of his many contributions to the partnership as our CFO since its formation over a decade ago and wish him the best of luck with his upcoming retirement.