https://www.avient.com/sites/default/files/resources/POL%2520BofA%2520Basic%2520Materials%2520IR%2520Presentation%2520w%2520non-GAAP%252012%252011%25202013.pdf
Forward – Looking Statements
Page 2
• This presentation includes the use of both GAAP (generally accepted accounting
principles) and non-GAAP financial measures.
Use of Non-GAAP Measures
Page 3
-150.00%
-50.00%
50.00%
150.00%
250.00%
350.00%
PolyOne S&P 500
All time high of
$34.47
December 9th, 2013
• 16 consecutive quarters of
double digit EPS growth
• 42% CAGR adjusted EPS
expansion 2006-2012
• YTD stock price has increased
63% versus 27% growth in the
S&P
• More than six fold increase in
market cap: $0.5b $3.3b
Strategy and Execution Drive Results
Page 4
The World’s Premier Provider of Specialized
Polymer Materials, Services & Solutions
Four Pillar Strategy
Page 5
PP&S
15%
Specialty
60%
Distribution
25%
0.12
0.27 0.21
0.13
0.68
0.82
1.00
2.50
$0.00
$0.25
$0.50
$0.75
$1.00
$1.25
$1.50
$1.75
$2.00
$2.25
$2.50
2006 2007 2008 2009 2010* 2011* 2012* 2015
Target
A
dj
us
te
d
Ea
rn
in
gs
P
er
S
ha
re
Appliance
6%
Building &
Construction
13%
Wire & Cable
9%
Electrical &
Electronics
4%
Consumer
9%
Packaging
18%
Industrial
10%
Misc.
5%
HealthCare
9%
Transportation
16%
Textiles
1%
United
States
70%
Europe
14%
Canada
8%
Asia
5%
Latin
America
3%
2012 Revenues: $4.0 Billion*
End Markets*
2012 Revenues: $4.0 Billion*
EPS
Page 6
* Pro Forma includes FY2012 results for Spartech (11/03/12 YE) and Glasforms & excludes discontinued operations
PolyOne
At A Glance
* Restated to exclude discontinued operations
Old
PolyOne Transformation
*Operating Income excludes corporate charges and special items
2%
34%
43%
63%
65-
75%
0%
20%
40%
60%
80%
100%
2005 2008 2010 YTD 2013 2015
%
o
f O
pe
ra
ti
ng
In
co
m
e*
JV's PP&S Distribution Specialty
Specialty OI $5M $46M $87M $153M Target
Mix Shift Highlights Specialty Transformation
2015
Target
Page 7
2006 YTD 2013 2015
Where we were Where we are
Organic Consolidated
Target
1) Operating Income %
Specialty:
Global Color, Additives & Inks 1.7% 12.8% 12.8% 12 – 16%
Global Specialty Engineered
Materials 1.1% 10.8% 8.9% 12 – 16%
Designed Structures & Solutions — — 5.0% 8 – 10%
Performance Products &
Solutions 5.5% 8.0% 8.2% 9 – 12%
Distribution 2.6% 6.1% 6 – 7.5%
2) Specialty Platform % of
Operating Income 6.0% 63% 65 – 75%
3) ROIC* (after-tax) 5.0% 9.4% 15%
4) Adjusted EPS Growth N/A 28%
Double Digit
Expansion
Proof of Performance & 2015 Goals
*ROIC is defined as TTM adjusted OI divided by the sum of average debt and equity over a 5 quarter period
Page 8
*Percentage of Specialty Platform revenue from products introduced in last five years
19.5%
44.0%
2006 Q3 2013
$20.3
$46.6
2006 TTM
Q3'13
14.3%
31.0%
2006 Q3 2013
Research & Development
Spending
Specialty Platform
Vitality Index Progression*
Innovation Drives Earnings Growth
($ millions)
Specialty Platform
Gross Margin %
Page 9
We are Experts in Polymer Science and Formulation
Polymer Science
Formulation
Chemistry
Processing
Inputs
Base Resins
Additives
Modifiers
Colorants
Specialized
Polymer Materials,
Services, and Solutions
Expertise
Satisfied
Consumers
PolyOne Customer
Innovative
Products & Services
Marketplace Demands
Performance Requirements
Value Drivers
Page 10
Positioned for Strong Growth
2015 Target
Rev: $5B
Adj.
Platform operating income mix percentage 2005Y* 2008Y* 2010Y* YTD 2013
Global Specialty Engineered Materials $ 0.4 $ 17.6 $ 49.7 $ 48.2
Global Color, Additives and Inks 4.3 28.1 37.7 83.4
Designed Structures and Solutions - - - 21.4
Specialty Platform $ 4.7 $ 45.7 $ 87.4 $ 153.0
Performance Products and Solutions 75.7 31.3 54.0 41.8
Distribution 19.5 28.1 42.0 49.7
SunBelt Joint venture 91.9 28.6 18.9 -
Corporate (51.5) (425.1) (27.7) (61.7)
Operating income (loss) GAAP $ 140.3 $ (291.4) $ 174.6 $ 182.8
Less: Corporate operating expense 51.5 425.1 27.7 61.7
Operating income excluding Corporate $ 191.8 $ 133.7 $ 202.3 $ 244.5
Specialty platform operating mix percentage 2% 34% 43% 63%
* Historical results include the Resin and Specialty Coatings businesses within the Performance Products and Solutions segment.
https://www.avient.com/sites/default/files/2023-11/AVNT Q3 2023 Earnings Press Release.pdf
CLEVELAND – November 2, 2023 – Avient Corporation (NYSE: AVNT), a leading provider of
specialized and sustainable material solutions, today announced its third quarter 2023 results.
Versus our projections, lower depreciation expense, related to prior restructuring actions, and
reduced interest expense more than offset the impact of lower sales.”
2
The company noted that during the third quarter certain end markets continued to perform
relatively well, such as energy, transportation and defense, whereas demand in most other
markets remained weak versus the prior year.
Eastern Time on November 2, 2023.
3
Webcast Details
Avient will host a webcast on Thursday, November 2, 2023 at 8:00 a.m.
https://www.avient.com/sites/default/files/2021-01/case-study-one-pager-surround-automotive-ev-connector-charger.pdf
MAJOR TIER 1
SUPPLIER
C O N N E C T O R C O V E R
• EMI-shielding performance at frequencies from 30 MHz up
to 2 GHz
• Excellent dimensional stability
• Must meet robust mechanical property targets including
tensile strength and elongation at break
• Worked in close collaboration with the OEM from
the start of the development process in order to
fully understand their key requirements
• Developed a customized material providing the
required EMI-shielding performance which,
removing the need for secondary metallization
manufacturing processes, reduced cycle time
Surround™ NN- 14 NICF SIP Black
Formulation
KEY REQUIREMENTS
WHY AVIENT?
https://www.avient.com/sites/default/files/2022-07/Gravi-Tech - HDPE Meat Box - Application Snapshot.pdf
PROHACCP
D E T E C T A B L E E 2 B O X
• Magnetic for detection in factory
• EU and FDA food contact compliance
• Durable for repeated use
• Color matching
• Enabled fast and accurate development of a
custom formulation meeting all customer
requirements
• Provided both material and color expertise
from a single source
• Matched color to specific blue providing
visual contrast against meat/food products,
enhancing detectability
Gravi-Tech™ Density Modified Formulations
KEY REQUIREMENTS
WHY AVIENT?
https://www.avient.com/sites/default/files/2023-10/ISO 13485-2016 cert_expire 28Feb2025_Avient%5B28%5D.pdf
2
/J
u
n
-2
0
1
9
/V
er
si
o
n
1
.0
Certificate
Avient Colorants Singapore Pte Ltd
8 Third Chin Bee Road
Jurong Industrial Estate
618684 Singapore
Singapore
Scope
Administration, Site management, Manufacture,
Laboratory, Procurement, Maintenance,
infrastructure, Warehouse and Transport
Normative base
EN ISO 13485:2016 Medical devices – Quality Management System
Reg. no. 45483 Validity 01. 03. 2022 – 28. 02. 2025
Issue 01. 03. 2022
A.Grisard, President SQS F.
https://www.avient.com/sites/default/files/2024-12/GMP_Pune_Polyone Polymers -798019.pdf
F -27, MIDC, Ranjangaon,
Taluka – Shirur, Pune
Maharashtra
412220
India
Hold this Opinion Statement No. 798019/2023
The Organization has demonstrated that they have followed the guidelines provided for Good Manufacturing
Practices as per the ICHQ7 guidelines in their organization for the following Business activity:
Research and Development, Manufacture of Color additives, Concentrates and Specialty Formulations
for intended use in pharma and other industries
Theuns Kotze, Managing Director – IMETA Assurance
Last Audit Date: 31.10.2023
BSI Group India Private Limited T: +91-4762-9000
(CIN U74899DL1999PTC101381 info.in@bsigroup.com
The Mira Corporate Suites bsigroup.com/en-IN
Plot 1&2, Ishwar Nagar,
Mathura Road New Delhi-110065, India
https://www.avient.com/sites/default/files/2024-12/Oncolor Lux Colorants - PP Cap - case study snapshot.pdf
INHALER ROLL
BRAND
P P I N H A L E R R O L L C A P
• Provide green glow-in-the-dark effect colorants
• Offer good glowing performance but with a low dosage
• Meet a short delivery lead-time and cost-effective solution
• Met customer’s glowing effect requirement
of more than 8 hours with a 2% dosage
• Offered strong product innovation ability to
support customer’s product differentiation
with special effects
• Provided a short lead time and cost-
effectiveness with local production
OnColor Lux Colorants
KEY REQUIREMENTS
WHY AVIENT?
https://www.avient.com/sites/default/files/resources/PolyOne%25202015%2520Annual%2520Report.pdf
ITEM 2.
Cape Girardeau,
2.
Audit
2.
https://www.avient.com/sites/default/files/2022-11/Avient Announces Third Quarter 2022 Results.pdf
Adjusted EPS excluding intangible amortization for the third quarter of $0.59 was slightly below
prior year of $0.61.
2
“As we announced in our September 27th release, we are experiencing weaker global demand
conditions precipitated by the war in Ukraine, recession fears, higher energy costs and inflation,”
said Robert M.
Eastern Time on November 2, 2022.
Webcast Details
Avient will host a webcast on Wednesday, November 2, 2022 at 8:00 a.m.
https://www.avient.com/sites/default/files/2021-04/avnt-first-quarter-2021-news-release.pdf
Coupled with expanding margins, and early
synergy capture related to the Clariant Masterbatch acquisition, this led to a 68% increase in
adjusted EPS to $0.89 versus $0.53 in the prior year.
2
Specialty EBITDA Margins
Mr.
Three Months Ended
March 31, 2021
Three Months Ended
March 31, 2020
Reconciliation to Condensed Consolidated Statements of Income $ EPS $ EPS
Net income from continuing operations attributable to Avient shareholders $ 79.3 $ 0.86 $ 33.1 $ 0.38
Special items, after tax (Attachment 3) 2.6 0.03 8.6 0.10
Adjusted net income / EPS - excluding special items $ 81.9 $ 0.89 $ 41.7 $ 0.48
7
Attachment 2
Avient Corporation
Condensed Consolidated Statements of Income (Unaudited)
(In millions, except per share data)
Three Months Ended
March 31,
2021 2020
Sales $ 1,162.3 $ 711.5
Cost of sales 859.9 540.0
Gross margin 302.4 171.5
Selling and administrative expense 182.0 118.7
Operating income 120.4 52.8
Interest expense, net (19.3) (9.4)
Other income, net 1.5 1.6
Income from continuing operations before income taxes 102.6 45.0
Income taxes (22.9) (11.9)
Net income from continuing operations 79.7 33.1
Loss from discontinued operations, net of income taxes — (0.3)
Net income 79.7 32.8
Net income attributable to noncontrolling interests (0.4) —
Net income attributable to Avient common shareholders $ 79.3 $ 32.8
Earnings per share attributable to Avient common shareholders - Basic:
Continuing operations $ 0.87 $ 0.38
Discontinued operations — —
Total $ 0.87 $ 0.38
Earnings per share attributable to Avient common shareholders - Diluted:
Continuing operations $ 0.86 $ 0.38
Discontinued operations — —
Total $ 0.86 $ 0.38
Cash dividends declared per share of common stock $ 0.2125 $ 0.2025
Weighted-average shares used to compute earnings per common share:
Basic 91.3 86.3
Diluted 92.2 86.7
8
Attachment 3
Avient Corporation
Summary of Special Items (Unaudited)
(In millions, except per share data)
Special items (1)
Three Months Ended
March 31,
2021 2020
Cost of sales:
Restructuring costs, including accelerated depreciation and amortization $ (1.8) $ —
Environmental remediation costs (0.5) (0.4)
Reimbursement of previously incurred environmental costs 4.5 0.2
Impact on cost of sales 2.2 (0.2)
Selling and administrative expense:
Restructuring, legal and other (1.3) (1.8)
Acquisition earn-out adjustments — (1.0)
Acquisition related costs (3.3) (6.7)
Impact on selling and administrative expense (4.6) (9.5)
Impact on operating income (2.4) (9.7)
Other income, net — 0.1
Impact on income from continuing operations before income taxes (2.4) (9.6)
Income tax benefit on above special items 0.9 2.0
Tax adjustments(2) (1.1) (1.0)
Impact of special items on net income from continuing operations
attributable to Avient Shareholders $ (2.6) $ (8.6)
Diluted earnings per common share impact $ (0.03) $ (0.10)
Weighted average shares used to compute adjusted earnings per share:
Diluted 92.2 86.7
(1) Special items include charges related to specific strategic initiatives or financial restructuring such as: consolidation of operations; debt
extinguishment costs; costs incurred directly in relation to acquisitions or divestitures; employee separation costs resulting from personnel
reduction programs, plant realignment costs, executive separation agreements; asset impairments; settlement gains or losses and mark-to-
market adjustments associated with actuarial gains and losses on pension and other post-retirement benefit plans; environmental
remediation costs, fines, penalties and related insurance recoveries related to facilities no longer owned or closed in prior years; gains and
losses on the divestiture of operating businesses, joint ventures and equity investments; gains and losses on facility or property sales or
disposals; results of litigation, fines or penalties, where such litigation (or action relating to the fines or penalties) arose prior to the
commencement of the performance period; one-time, non-recurring items; and the effect of changes in accounting principles or other such
laws or provisions affecting reported results
Reconciliation of Pro Forma Adjusted Earnings per Share:
Three Months Ended
March 31, 2020
Net income from continuing operations attributable to Avient shareholders $ 33.1
Special items, after tax (Attachment 3) 8.6
Adjusted net income from continuing operations excluding special items 41.7
Clariant MB pro forma adjustments to net income from continuing operations(2) 7.8
Pro forma adjusted net income from continuing operations attributable to Avient shareholders $ 49.5
Weighted average diluted shares 86.7
Pro forma impact to diluted shares from January 2020 equity offering 6.1
Pro forma weighted average diluted shares 92.8
Adjusted EPS - excluding special items pro forma for Clariant MB acquisition $ 0.53
Year Ended
December 31, 2020
Reconciliation of Pro Forma Adjusted
Earnings per Share: Avient
Special
Items
Adjusted
Avient
Clariant MB
Pro Forma
Adjustments(2)
Pro Forma
Adjusted
Avient
Sales $ 3,242.1 $ — $ 3,242.1 $ 540.4 $ 3,782.5
Operating income $ 189.3 $ 73.7 $ 263.0 $ 45.0 $ 308.0
Interest expense, net (74.6) 10.1 (64.5) (18.1) (82.6)
Other income, net 24.3 (17.6) 6.7 — 6.7
Income taxes (5.2) (41.4) (46.6) (6.2) (52.8)
Net income attributable to noncontrolling
interests (1.8) — (1.8) — (1.8)
Net income from continuing operations
attributable to Avient shareholders $ 132.0 $ 24.8 $ 156.8 $ 20.7 $ 177.5
Weighted average diluted shares 90.6
Impact to diluted shares from January 2020 equity offering 1.5
Pro forma weighted average diluted shares 92.1
Pro forma adjusted EPS $ 1.93
(2) Pro forma adjustments for the periods prior to the acquisition date (July 1, 2020) and to give effects to the financing for the acquisition
14
Year Ended
December 31, 2019
Reconciliation of Pro Forma Adjusted
Earnings per Share: Avient
Special
Items
Adjusted
Avient
Clariant MB
Pro Forma
Adjustments(3)
Pro Forma
Adjusted
Avient
Sales $ 2,862.7 $ — $ 2,862.7 $ 1,118.6 $ 3,981.3
Operating income $ 156.8 $ 71.7 $ 228.5 $ 72.9 $ 301.4
Interest expense, net (59.5) — (59.5) (33.4) (92.9)
Other income, net 12.1 (10.0) 2.1 — 2.1
Income taxes (33.7) (5.9) (39.6) (9.1) (48.7)
Net income attributable to noncontrolling
interests (0.2) — (0.2) — (0.2)
Net income from continuing operations
attributable to Avient shareholders $ 75.5 $ 55.8 $ 131.3 $ 30.4 $ 161.7
Weighted average diluted shares 77.7
Impact to diluted shares from January 2020 equity offering 15.3
Pro forma weighted average diluted shares 93.0
Pro forma adjusted EPS $ 1.74
(3) Pro forma adjustments for the periods prior to the acquisition date (July 1, 2020) and to give effects to the financing for the acquisition
15
Reconciliation of EBITDA by Segment
Three Months Ended
March 31,
Year Ended December 31,
2021 2020 2020 2019 2018
Operating income:
Color, Additives and Inks $ 88.8 $ 40.5 $ 180.8 $ 147.4 $ 158.5
Specialty Engineered Materials 34.2 22.3 94.4 83.7 72.3
Distribution 24.0 19.4 69.5 75.4 71.5
Corporate and eliminations (26.6) (29.4) (155.4) (149.7) (123.7)
Operating income $ 120.4 $ 52.8 $ 189.3 $ 156.8 $ 178.6
Items Below OI in Corporate
Other income, net $ 1.5 $ 1.6 $ 24.3 $ 12.1 $ (12.9)
Depreciation & Amortization:
Color, Additives and Inks $ 27.4 $ 10.9 $ 75.1 $ 42.7 $ 44.3
Specialty Engineered Materials 7.8 7.5 30.0 29.5 23.2
Distribution 0.2 0.1 0.7 0.5 0.7
Corporate and eliminations 1.7 1.4 9.2 5.4 4.4
Depreciation & Amortization $ 37.1 $ 19.9 $ 115.0 $ 78.1 $ 72.6
EBITDA
Color, Additives and Inks $ 116.2 $ 51.4 $ 255.9 $ 190.1 $ 202.8
Specialty Engineered Materials 42.0 29.8 124.4 113.2 95.5
Distribution 24.2 19.5 70.2 75.9 72.2
Corporate and eliminations (24.9) (28.0) (146.2) (144.3) (119.3)
EBITDA $ 159.0 $ 74.3 $ 328.6 $ 247.0 $ 238.3
EBITDA as a % of Sales:
Color, Additives and Inks 19.1 % 20.0 % 17.0 % 18.9 % 19.4 %
Specialty Engineered Materials 19.4 % 16.1 % 17.6 % 15.2 % 14.8 %
Distribution 6.7 % 6.7 % 6.3 % 6.4 % 5.7 %
16
Reconciliation of Pro Forma EBITDA - Color,
Additives and Inks
Three Months Ended
March 31,
Year Ended
December 31,
2020 2020 2019 2018
Sales:
Color, Additives and Inks $ 256.5 $ 1,502.9 $ 1,003.8 $ 1,046.5
Clariant MB pro forma adjustments(4) 279.4 540.4 1,118.6 1,209.8
Pro forma sales $ 535.9 $ 2,043.3 $ 2,122.4 $ 2,256.3
Operating income:
Color, Additives and Inks $ 40.5 $ 180.8 $ 147.4 $ 158.5
Clariant MB pro forma adjustments(4) 23.0 45.0 72.9 80.3
Pro forma operating income $ 63.5 $ 225.8 $ 220.3 $ 238.8
Depreciation & amortization:
Color, Additives and Inks $ 10.9 $ 75.1 $ 42.7 $ 44.3
Clariant MB pro forma adjustments(4) 15.1 30.1 60.3 61.2
Pro forma depreciation & amortization $ 26.0 $ 105.2 $ 103.0 $ 105.5
Earnings Before Interest, Taxes, Depreciation
and Amortization (EBITDA):
Color, Additives and Inks $ 51.4 $ 255.9 $ 190.1 $ 202.8
Clariant MB pro forma adjustments(4) 38.1 75.1 133.2 141.5
Pro forma EBITDA $ 89.5 $ 331.0 $ 323.3 $ 344.3
Pro forma EBITDA as a % of Sales 16.7 % 16.2 % 15.2 % 15.3 %
Three Months Ended
March 31,
Year Ended
December 31,
Reconciliation to Adjusted EBITDA: 2021 2020 2020 2019 2018
Net income from continuing operations – GAAP $ 79.7 $ 33.1 $ 133.8 $ 75.7 $ 87.4
Income tax expense 22.9 11.9 5.2 33.7 14.4
Interest expense 19.3 9.4 74.6 59.5 62.8
Debt extinguishment cost — — 1.1
Depreciation and amortization from continuing operations 37.1 19.9 115.0 78.1 72.6
EBITDA $ 159.0 $ 74.3 $ 328.6 $ 247.0 $ 238.3
Special items, before tax 2.4 9.6 66.2 61.7 59.5
Interest expense included in special items — — (10.1) — —
Accelerated depreciation included in special items (0.5) — (3.2) — (3.0)
Adjusted EBITDA $ 160.9 $ 83.9 $ 381.6 $ 308.7 $ 294.8
Reconciliation of Pro Forma Sales:
Three Months Ended
March 31, 2020
Sales $ 711.5
Clariant MB pro forma adjustment to sales(4) 279.4
Pro forma sales $ 990.9
(4) Pro forma adjustments for the periods prior to the acquisition date (July 1, 2020)
17
Avient Announces Record First Quarter 2021 Results; Increases Full Year Guidance.pdf
NEWS RELEASE
4.29 232pm News Release (002).pdf