AVERAGE QUARTERLY INDUSTRY PRICES (1)

Average domestic prices March 31, 2021 June 30, 2021 September 30, 2021 December 31, 2021 March 31, 2022
Ethane (cents/lb) (3) 8.1 8.7 11.7 13.2 13.5
Natural gas ($/MMBtu) (2) 2.8 2.9 4.0 5.8 4.8
Propane (cents/lb) (4) 21.2 20.7 27.6 29.5 30.7
Ethylene (cents/lb) (5) 45.1 43.0 48.0 35.4 37.6
Polyethylene (cents/lb) (6) 78.0 99.0 109.0 92.0 79.3
Styrene (cents/lb) (7) 76.5 90.5 82.0 84.8 91.3
Caustic soda ($/short ton) (8) 648 755 825 920 972
Chlorine ($/short ton) (9) 234 309 443 563 680
PVC (cents/lb) (10) 92.8 105.0 109.0 114.3 113.3
Average export prices March 31, 2021 June 30, 2021 September 30, 2021 December 31, 2021 March 31, 2022
Polyethylene (cents/lb) (11) 76.3 89.7 86.0 72.7 69.6
Caustic Soda ($/short ton) (12) 249 333 364 573 617
PVC (cents/lb) (13) 67.8 77.8 74.1 90.0 72.6
Housing Starts (in thousands of) March 31, 2021 June 30, 2021 September 30, 2021 December 31, 2021 March 31, 2022
Housing Starts - Actual quarterly starts (cents/lb) (14) 358 435 419 389 395
Housing Starts - Seasonally Adjusted Annual Rate (15) 1,599 1,588 1,562 1,670 1,753

(1) Industry pricing data was obtained through IHS Markit ("IHS"). We have not independently verified the data.

(2) Average Burner Tip contract prices of natural gas over the period.

(3) Average Mont Belvieu spot prices of purity ethane over the period.

(4) Average Mont Belvieu spot prices of non-TET propane over the period.

(5) Average North American spot prices of ethylene over the period.

(6) Average North American Net Transaction prices of polyethylene low density GP-Film grade over the period.

(7) Average North American contract prices of styrene over the period.

(8) Average USGC-CSLi index values for caustic soda over the period. As stated by IHS, "the caustic soda price listing represents the USGC-CSLi values. USGC-CSLi does not reflect contract price discounts, implementation lags, caps or other adjustments factors. Additionally, it is not intended to represent a simple arithmetic average of all market transactions occurring during the month. Rather, the USGC-CSLi is most representative of the month-to-month caustic soda price movement for contract volumes of liquid 50% caustic soda rather than the absolute value of contract prices at a particular point in time. It is intended to serve only as a benchmark."

(9) Average North American contract prices of chlorine over the period.

(10) Average North American contract prices of pipe grade polyvinyl chloride ("PVC") over the period. As stated by IHS, "the contract resin prices posted reflect an "index" or "market" for prices before discounts, rebates, incentives, etc."

(11) Average North American export price for low density polyethylene GP-Film grade over the period.

(12) Average North American low spot export prices of caustic soda over the period.

(13) Average North American spot export prices of PVC over the period.

(14) Quarterly Single and Multi-family Starts data per the U.S. Census Bureau - [April 19, 2022] report.

(15) Quarterly Average Single and Multi-family Seasonally Adjusted Annual Rate data per the U.S. Census Bureau - [April 19, 2022] report.