AVERAGE QUARTERLY INDUSTRY PRICES (1)

Average domestic prices September 30, 2020 December 31, 2020 March 31, 2021 June 30, 2021 September 30, 2021
Ethane (cents/lb) (3) 7.4 7.1 8.1 8.7 11.7
Natural gas ($/MMBtu) (2) 2.0 2.7 2.8 2.9 4.0
Propane (cents/lb) (4) 11.9 13.5 21.2 20.7 27.6
Ethylene (cents/lb) (5) 19.3 24.0 45.1 43.0 48.0
Polyethylene (cents/lb) (6) 61.0 67.7 78.0 99.0 109.0
Styrene (cents/lb) (7) 53.8 59.6 76.5 90.5 82.0
Caustic soda ($/short ton) (8) 697 653 648 755 825
Chlorine ($/short ton) (9) 176 193 234 309 443
PVC (cents/lb) (10) 73.3 84.5 92.8 105.0 109.0
Average export prices September 30, 2020 December 31, 2020 March 31, 2021 June 30, 2021 September 30, 2021
Polyethylene (cents/lb) (11) 45.7 53.2 76.3 89.7 86.0
Caustic Soda ($/short ton) (12) 260 219 249 333 364
PVC (cents/lb) (13) 38.5 55.4 67.8 77.8 74.1

(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.