Westlake Chemical Partners LP Announces Offering of Common Units

HOUSTON–(BUSINESS WIRE)–Westlake Chemical Partners LP (NYSE: WLKP) (the “Partnership”) announced
the commencement of an underwritten public offering of 4,500,000 common
units representing limited partner interests in the Partnership. In
connection with the offering, the Partnership intends to grant the
underwriter a 30-day option to purchase up to an additional 675,000
common units.

The Partnership intends to use the net proceeds from this offering,
along with borrowings under its revolving credit facility, to fund its
obligations under the concurrently announced acquisition of an
additional limited partner interest in Westlake Chemical OpCo LP
(“OpCo”), which will increase the Partnership’s limited partner interest
in OpCo by 5.0% to approximately 18.3% (the “OpCo Equity Purchase”).
Pending the use of proceeds for such purpose, or if the OpCo Purchase is
not consummated for any reason, the Partnership intends to use the net
proceeds from this offering for general partnership purposes. OpCo
intends to use the proceeds it receives from the OpCo Equity Purchase to
repay borrowings under its intercompany debt agreements with Westlake
Chemical Corporation.

The common units are being offered and will be sold pursuant to an
effective shelf registration statement that was previously filed with
the Securities and Exchange Commission (“SEC”). This press release shall
not constitute an offer to sell or the solicitation of an offer to buy
any securities, nor shall there be any sale of these securities in any
state in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of such
states. The offering is being made only by means of a prospectus and
related prospectus supplement meeting the requirements of Section 10 of
the Securities Act of 1933, as amended.

UBS Investment Bank, Citigroup, Barclays and BofA Merrill Lynch are
acting as joint book-running managers for the offering. A copy of the
preliminary prospectus supplement and accompanying base prospectus
relating to the offering may be obtained for free by visiting EDGAR on
the SEC website at www.sec.gov
or by sending a request to:

The statements in this release that are not historical facts, but
forward-looking statements, including the consummation of the described
acquisition and offering, could be adversely affected by to a variety of
known and unknown risks, uncertainties and other factors that are
difficult to predict and many of which are beyond management’s control.
The Partnership’s expectations may or may not be realized or may be
based upon assumptions or judgments that prove to be incorrect. For more
detailed information about the factors that could cause actual results
to differ materially for the projections contained herein, please refer
to the Partnership’s Annual Report on Form 10-K for the year ended
December 31, 2016.

Westlake Chemical Partners LP

Westlake Chemical Partners is a limited partnership formed by Westlake
Chemical Corporation to operate, acquire and develop ethylene production
facilities and other qualified assets. Headquartered in Houston, Texas,
the Partnership, following the closing of the acquisition described
above, is expected to own an approximately 18.3% interest in Westlake
Chemical OpCo LP. Westlake Chemical OpCo LP's assets consist of three
ethylene production facilities in Calvert City, Kentucky, and Lake
Charles, Louisiana and an ethylene pipeline.

Contacts

Westlake Chemical Partners LP
Media Relations
L.
Benjamin Ederington, 713.585.2900
or
Investor
Relations
Steve Bender, 713.585.2900