https://www.avient.com/sites/default/files/resources/Polyone%2520AR.pdf
Growth in the polymer distribution market is
highly correlated with growth in the base polymer resins market.
Level 1 assets are valued based on quoted market prices.
DODD
Vice President, Marketing
MICHAEL A.
https://www.avient.com/sites/default/files/2020-12/sem-tri-fold-selection-guide.pdf
a wholly-owned subsidiary of Avient Corporation
NAME BASE RESIN(S) AVAILABLE FEATURES1
Trilliant™
ABS, LCP, PA, PC,
ABS, PA 6, PA 66,
PC/ABS, PC/PSU,
PEBA, PEEK, PES,
POM, PPA, PSU
Certified to USP Class VI
Formulations locked down
Drug master file submissions by product stewardship
Pre-colored, small lot production down to 50 lb–250 lb
Sterilization, chemical resistance, and secondary process guidance
Adherence to FDM-GMP manufacturing standards
Antimicrobial technologies
Materials for radiation shielding protection
NEU™
Specialty
Materials2
PEBA, TPU, PA 11, PA 12,
PP, PE, TPE
Radiopacifiers, stabilizers, and surface modifiers
Antimicrobial technologies
Pre-colored formulations
Small lot capabilities
Short lead times
Versaflex™ HC TPE
Overmolding
Clear and heat resistant
Ultra clear grades
Ultra soft TPE gels, 30 shore OO
FDA, USP Class VI, ISO 10993 approved grades
Sterilizable under autoclave, radiation, and EtO gas
HEALTHCARE SPECIALTY THERMOPLASTICS
reSound™ R
Recycled
Formulations
PA6, PA66, PC
Transportation, Consumer,
Household Appliance,
Electrical & Electronics,
PA grades: Up to 100% recycled content
PC grades: Up to 70% recycled content
PIR and PCR grades available
Support the circular economy
Comparable performance to prime grades
Customizable solution
Surround™ ABS, PP, PBT, PC, PA 66 Transportation, Electrical
Integrated EMI/RFI shielding
Long fiber technology
Conductive properties
Galvanic corrosion protection
Lightweighting and ease of processing
Stat-Tech™
ABS, PA, PC, PC/ABS,
PC/PSU, PEEK, PEI,
PES, PP, PPA
Transportation, Electrical
Integrated EMI/RFI shielding
Conductive properties
Anti-static/dissipative properties
Corrosion resistance
Lightweighting and ease of processing
Clean room materials for semiconductors available
Therma-Tech™ LCP, PA, PEEK, PP,
PPA, PPS Consumer, Transportation
Thermally conductive
Low coefficient of thermal expansion
SPECIALTY ENGINEERED THERMOPLASTICS
Barricade™
Elastomers
with Fortrex™
Technology
Barricade™ high-performance
elastomers bring next genera-
tion technology to market to
bridge the gap between tradi-
tional TPEs and silicone
Healthcare, Industrial
Aerospace, Appliances,
Electronics
High temperature compression set
Processes on thermoplastic injection molding
and extrusion equipment
Customizable and colorable
Process simplicity
CROSSLINKABLE ELASTOMERS
Barricade formulations leverage licensed Fortrex™ technology.
NAME DESCRIPTION TARGET MARKETS AVAILABLE FEATURES1
OnFlex™
Part of Avient’s portfolio
of specialty TPEs, OnFlex
materials are designed to meet
and withstand the rigor and
durability of various industrial
applications.
SPECIALTY
ENGINEERED
MATERIALS
FOCUS MARKETS
The Specialty Engineered Materials product
portfolio offers customized solutions to serve
a full range of markets, including:
Specialty Consumer
Transportation
Specialty Packaging
Healthcare
Building & Construction
Electrical & Electronics
Appliance
Wire & Cable
1.844.4AVIENT
www.avient.com
Copyright © 2020, Avient Corporation.
https://www.avient.com/sites/default/files/resources/PolyOne%2520IR%2520Presentation%2520-%2520Seaport%2520Global%2520Transports%2520%2526%2520Industrials%2520Conference.pdf
Factors that could cause actual results to differ materially from those implied by these forward-looking statements include, but are not limited to:
Our ability to realize anticipated savings and operational benefits from the realignment of assets, including the closure of manufacturing facilities;
The timing of closings and shifts of production to new facilities related to asset realignments and any unforeseen loss of customers and/or disruptions of
service or quality caused by such closings and/or production shifts;
Separation and severance amounts that differ from original estimates;
Amounts for non-cash charges related to asset write-offs and accelerated depreciation realignments of property, plant and equipment, that differ from
original estimates;
Our ability to identify and evaluate acquisition targets and consummate acquisitions;
The ability to successfully integrate acquired companies into our operations, retain the management teams of acquired companies, retain relationships
with customers of acquired companies, and achieve the expected results of such acquisitions, including whether such businesses will be accretive to our
earnings;
Disruptions, uncertainty or volatility in the credit markets that could adversely impact the availability of credit already arranged and the availability and
cost of credit in the future;
The financial condition of our customers, including the ability of customers (especially those that may be highly leveraged and those with inadequate
liquidity) to maintain their credit availability;
The speed and extent of an economic recovery, including the recovery of the housing market;
Our ability to achieve new business gains;
The effect on foreign operations of currency fluctuations, tariffs and other political, economic and regulatory risks;
Changes in polymer consumption growth rates and laws and regulations regarding the disposal of plastic in jurisdictions where we conduct business;
Changes in global industry capacity or in the rate at which anticipated changes in industry capacity come online;
Fluctuations in raw material prices, quality and supply and in energy prices and supply; production outages or material costs associated with scheduled
or unscheduled maintenance programs;
Unanticipated developments that could occur with respect to contingencies such as litigation and environmental matters;
An inability to achieve or delays in achieving or achievement of less than the anticipated financial benefit from initiatives related to working capital
reductions, cost reductions and employee productivity goals;
An inability to raise or sustain prices for products or services;
An inability to maintain appropriate relations with unions and employees;
Our ability to continue to pay cash dividends;
The amount and timing of repurchases of our common shares, if any; and
Other factors affecting our business beyond our control, including, without limitation, changes in the general economy, changes in interest rates and
changes in the rate of inflation.
The above list of factors is not exhaustive.
We undertake no obligation to publicly update forward-looking statements, whether as a result of new information, future events or otherwise.
A reconciliation of each non-GAAP financial measure with the most directly
comparable GAAP financial measure is attached to this presentation which is posted
on our website at www.polyone.com.
4 POLYONE CORPORATION
What We Do
Value
Formulation
Expertise Inputs
Base resins
Additives
Modifiers
Pigments
Expertise in
Polymer
Materials,
Services and
Solutions
OEMs
Brand Owners
Processers
Assemblers
Driving customer value with specialty products & services
Service
InVisiOSM Color
Services
IQ Design Labs
LSS Customer
First
POLYONE CORPORATION 5
2016 Revenue ($3.3 Billion) by Segment
At a Glance
United
States
65%
Europe
12%
Canada
8%
Asia
8%
Latin
America
7%
$0.13
$0.68
$0.82
$1.00
$1.31
$1.80
$1.96
$2.13
2009 2010 2011 2012 2013 2014 2015 2016
2016 Revenue by Geography
2016 Revenue by End Market
Appliance
5%
Building &
Construction
11%
Consumer
11%
Electrical &
Electronics
5%
Healthcare
11%
Industrial
15%
Packaging
12% Textiles
2%
Transportation
19%
Wire &
Cable
9%
Adjusted Earnings Per Share
Performance
Products &
Solutions
19%
PolyOne
Distribution
31%
Designed
Structures
& Solutions
11% Specialty
Engineered
Materials
16%
Color
Additives
and Inks
23%
6 POLYONE CORPORATION
Returning Cash to Shareholders
$0.16
$0.20
$0.24
$0.32
$0.40
$0.48
$0.54
$0.10
$0.20
$0.30
$0.40
$0.50
$0.60
2011 2012 2013 2014 2015 2016 2017
Annual Dividend*
Since 2011, we have returned nearly $850 million to shareholders
$150 million returned through dividends
$697 million returned through share repurchases
$697M
$0
$150
$300
$450
$600
$750
2011 2012 2013 2014 2015 2016
Cumulative Share Repurchases
(in millions)
*Initiated in 2011
7 POLYONE CORPORATION
2%
43%
79%
0%
20%
40%
60%
80%
100%
2005 2010 2016
%
o
f O
pe
ra
tin
g
In
co
m
e*
*Operating Income excludes corporate charges and special items
Specialty OI $5M $87M $273M
Mix Shift Highlights Specialty Transformation
Specialty =
ROS > 10%
JV’s Performance Products & Solutions
Specialty Distribution
8 POLYONE CORPORATION
2006 2016 2020
“Where we were” “Where we are” Platinum Vision
Operating Income % of Sales
Color, Additives & Inks 1.7% 16.0% 20%+
Specialty Engineered Materials 1.1% 14.3% 20%+
Performance Products & Solutions 5.5% 11.1% 12 – 14%
Distribution 2.6% 6.4% 6.5 – 7.5%
Designed Structures & Solutions N/A -0.9% 8 – 10%
ROIC* 5.0% 12.9% 15%
Proof of Performance & 2020 Platinum Vision
*ROIC is defined as TTM adjusted OI after tax divided by the sum of average debt and equity less cash over a 5 quarter period
Consistently Deliver Double Digit Annual EPS Growth
POLYONE CORPORATION 9
2,883
2,538
2006 2016
Volume
(lbs in millions)
-12%
$103
$200
2006 2016
Commercial, R&D
and Marketing
Spending ($M)
+95%
$88
$317
2006 2016
Adjusted
Operating Profit ($M)
+263%
Ours is Not a Cost Cutting Story
10 POLYONE CORPORATION
Innovation Drives Earnings Growth
*Specialty Platform revenue from products introduced in last five years
$20
$54
2006 2016
Research & Development
Spending
($ millions)
Specialty Platform
Vitality Index Progression*
14%
33%
2006 2016
CAI & SEM
Gross Margin
12%
42%
2006 2016
Target ≥ 35%
Innovation Pipeline Potential
11 POLYONE CORPORATION
Primary Industries Served
2016 Revenue: $3.3 Billion
Electrical &
Electronic
5%
Building &
Construction
11%
Appliance
5%
Industrial
15%
Wire & Cable
9%
Healthcare
11%
Consumer
11%
Packaging
12%
Transportation
19%
Focus End Markets
12 POLYONE CORPORATION
Therma-Tech™ & Sheet
GEON™ Vinyl
Polymer Colorants
Therma-Tech™
TPE’s & Film
TPE + OnForce™
Gravi-Tech™
Page 12
Film
Target End Markets… Healthcare
13 POLYONE CORPORATION
Sound & Vibration
Management
Fuel Handling
Systems
Interior & Exterior Trim
Structural Braces
& Brackets
Interior Structural
Components
Lighting
Air management
Electronics & Cameras
Fluid Handling
Target End Markets… Automotive
Underhood
Components
Roof Systems
14 POLYONE CORPORATION
PreservaPak™
OnColor™
Smart Batch™
VersaFlex™
TPE Cap Liner
ColorMatrix™
Amosorb™
Oxygen Scavenger
ColorMatrix™
Ultimate™ UV
Light Barrier
OnCap™
Laser Marking
Additives
Target End Markets… Packaging
15 POLYONE CORPORATION
Source: Outdoor Industry Association
TPE Vibration Dampening
(SEM/GLS)
TPE + OnForce
(SEM)
OnForce
(SEM)
Advanced Composites
(SEM)
TPE Vibration Dampening
(SEM/GLS)
Thermoplastic Elastomers
(SEM)
Advanced Composites
(SEM)
Polymer Colorants
(CAI)
Sheet
(DSS)
TPE & Film
(SEM + DSS)
Advanced Composites
(SEM)
Polymer Colorants
(CAI)
Thermatech
(SEM)
Thermoplastic Elastomers
(SEM)
TPE + OnForce
(SEM)
OnForce
(SEM)
Target End Markets… Consumer
16 POLYONE CORPORATION
Free Cash Flow and Strong Balance Sheet
Fund Investment / Shareholder Return
Expanding our sales,
marketing, and
technical capabilities
Investing in operational
and LSS initiatives
~60 - 70% of capital
expenditures fund
growth initiatives Organic
Growth
Acquisitions
Share
Repurchases
Dividends Targets that expand
our:
• Specialty offerings
• End market
presence
• Geographic breadth
Growth synergies
Adjacent material
solutions
Repurchased 1.2
million shares in Q4
2016
Repurchased 18.8
million shares since
early 2013
8.5 million shares are
available for
repurchase under the
current authorization
Increased annual
dividend by 12.5% to
$0.54 per share,
representing the sixth
consecutive year of
dividend growth
POLYONE CORPORATION 17
The New PolyOne: A Specialty Growth Company
Why Invest In PolyOne?
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; 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; the effect of changes in accounting principles or other
such laws or provisions affecting reported results and tax adjustments.
https://www.avient.com/sites/default/files/2022-11/AVNT Q3 2022 Earnings Presentation - Website Final.pdf
In particular, these include statements relating to future actions; prospective changes in raw
material costs, product pricing or product demand; future performance; estimated capital expenditures; results of current and anticipated market conditions and market strategies; sales efforts; expenses; the outcome of contingencies such as legal
proceedings and environmental liabilities; and financial results.
END MARKET FOCUS ON LESS CYCLICAL
INDUSTRIES
11
14.8%
17.6%
21.0%
2018 2020 2022 PF
1.8%
2006
15.3%
16.2%
17.0%
2018PF 2020PF 2022E
CAI
2.7%
2006
SEM
SPECIALTY EBITDA MARGIN EXPANSION
12
• Portfolio transformation
accelerates growth in less
cyclical, higher margin end
markets
• Investments in our
composites platform
continue to drive margin
expansion
(1) (1)
(1) 2018 and 2020 financial information is pro forma to include a full year of Clariant Color acquisition
PORTFOLIO EVOLUTION OVER THE YEARS
13
Adj.
Sales EBITDA
Specialty Engineered Materials
Color Additives and Inks
$585M$3,635M
23
C O L O R , A D D I T I V E S & I N K S
2022 REVENUE | $2 .3 B ILL ION
US & Canada
Latin America
END MARKET REGION
24
33%
Building &
1% Energy
Figures represent 2022 full year estimates
S P E C I A LT Y E N G I N E E R E D M AT E R I A L S
2022 PRO FORMA REVENUE | $1 .3 B ILL ION
END MARKET
US & Canada
50%
REGION
25 Figures represent 2022 full year estimates
19%
8%Industrial
16%
Building &
31%
28%
13%
Building &
3%
2% Defense
(20% of sales)
2022 PROFORMA AVIENT REGIONAL SALES
BY END MARKET
29%
13%
17%
Building &
(35% of sales)
14%
Building &
12%
US &
Canada
(40% of sales)
49%
Building &
LATAM
(5% of sales)
3%Telecommunications
Figures represent 2022 full year estimates
Reconciliation of Non-GAAP Financial Measures
(Unaudited)
(Dollars in millions, except for per share data)
Senior management uses comparisons of adjusted net income from continuing operations attributable to Avient shareholders
and diluted adjusted earnings per share (EPS) from continuing operations attributable to Avient shareholders, excluding special
items, to assess performance and facilitate comparability of results.
https://www.avient.com/sites/default/files/2021-05/2021-colormatrix-quick-guide-to-liquid-color.pdf
Does your colorant meet all the regulatory requirements of your intended market?
Streamlining this process and being able to react
quickly and cost-effectively to market dynamics can
give that all-important competitive edge.
Rapid color development
Accelerated color match, development and delivery for
rapid market access.
https://www.avient.com/sites/default/files/2021-05/2021-colormatrix-quick-guide-to-liquid-color_0.pdf
Does your colorant meet all the regulatory requirements of your intended market?
Streamlining this process and being able to react
quickly and cost-effectively to market dynamics can
give that all-important competitive edge.
Rapid color development
Accelerated color match, development and delivery for
rapid market access.
https://www.avient.com/sites/default/files/resources/Proxy%2520Statement%2520for%2520Web%2520Hosting.pd_.pdf
Competitive Market Pay Information.
Exercise or Base Price of Option Awards (column (i))
Grant Date Fair Value of Stock and Option Awards (column (j))
Narrative Disclosure Relating to the 2018 Summary Compensation Table and the 2018 Grants
of Plan-Based Awards Table
Outstanding Equity Awards at 2018 Fiscal Year-End
Exercise
Price
Expiration
Date
Market
Value of
Shares or
Units of
Stock That
Have Not
Vested
Equity Incentive
Plan Awards:
Market or Payout
Value of Unearned
Shares, Units or
Other Rights that
Have Not Vested
(j)
Stock Awards
Equity
Incentive Plan
Awards:
Number of
Securities
Underlying
Unearned
Options
Equity Incentive
Plan Awards:
Number of
Unearned
Shares, Units or
Other Rights that
Have Not Vested
(i)
Number of
Shares or
Units of
Stock That
Have Not
Vested
Number of
Underlying
Unexercised
Options (#)
Unexercisable
Number of
Securities
Underlying
Options (#)
Exercisable
Option Awards
Number of Securities Underlying Unexercised Options (#) Exercisable (column (b))
Number of Securities Underlying Unexercised Options (#) Unexercisable (column (c))
Equity Incentive Plan Awards: Number of Securities Underlying Unexercised Unearned Options (column (d))
Option Exercise Price (column (e))
Option Expiration Date (column (f))
Number of Shares or Units of Stock That Have Not Vested (column (g))
Market Value of Shares or Units of Stock That Have Not Vested (column (h))
Equity Incentive Plan Awards: Number of Unearned Shares, Units or Other Rights That Have Not Vested
(column (i))
Equity Incentive Plan Awards: Market or Payout Value of Unearned Shares, Units or Other Rights That Have
Not Vested (column (j))
2018 Option Exercises and Stock Vested
Option Awards Stock Awards
Acquired on Exercise
Value Realized on
Exercise
Acquired on Vesting
Value Realized
on Vesting
Option Awards (columns (b) and (c))
Stock Awards (columns (d) and (e))
2018 Nonqualified Deferred Compensation
Aggregate Executive Registrant Aggregate Aggregate Aggregate
Balance at Contributions Contributions Earnings Withdrawals/ Balance at
in Last FY in Last FY in Last FY Distributions Last FYE
(1) ($)(2) ($)(3) ($)(4) ($) ($)(1)(5)
Potential Payments Upon Termination or Change of Control
Summary of Potential Payments
Management Continuity Agreements
Executive Severance Plan
Annual Plan
Long-Term Incentive Awards
Retirement Benefits
Payments and Benefits Upon Termination — As of the End of Fiscal Year 2018
CEO Pay Ratio Disclosure
CEO Annual Total Compensation for 2018: $6,127,920
Median Employee Annual Total Compensation for 2018: $48,056
Ratio of CEO to Median Employee Annual Total Compensation for 2018: 128:1
How the Median Employee was Determined in 2017
Compensation Committee Interlocks and Insider Participation
Policy on Related Person Transactions
Risk Assessment of the Compensation Programs
Compensation Committee Report
The Compensation Committee
of the Board of Directors
MISCELLANEOUS
MISCELLANEOUS PROVISIONS
Voting at the Meeting
not
Shareholder Proposals
MISCELLANEOUS
Proxy Solicitation
We will furnish without charge to each person from whom a proxy is being solicited, upon written
request of any such person, a copy of the Annual Report on Form 10-K of the Company for the fiscal year
ending December 31, 2018, as filed with the SEC, including the financial statements and schedules thereto.
https://www.avient.com/sites/default/files/resources/PolyOne%2520Investor%2520Presentation%2520Longbow%2520Basic%2520Materials%2520Conference%2520-%2520March%25202016.pdf
PolyOne Corporation Page 4
PolyOne Commodity to Specialty Transformation
• Volume driven,
commodity producer
• Heavily tied to
cyclical end markets
• Performance largely
dependent on non-
controlling joint
ventures
2000-2005 2006 - 2009 2010 – 2015 2016 and
beyond
• Steve Newlin
appointed, Chairman,
President and CEO
• New leadership team
appointed
• Implementation of four
pillar strategy
• Focus on value based
selling, investment in
commercial resources
and innovation to drive
transformation
• Substantial EPS growth
from $0.13 to all-time
high of $1.96
• Shift to faster growing,
high margin, less
cyclical end markets
• Key acquisitions propel
current and future
growth, as well as
margin expansion
• Specialty mix expands
to 65% of Operating
Income – strongest mix
of earnings in history
• Deliver consistent
double digit annual
EPS growth
• Maintain >35% vitality
index
• Pursue strategic
acquisitions that
expand specialty
offerings and
geographic breadth
• Invest and grow
current and next
generation talent
PolyOne Corporation Page 5
25 Consecutive Quarters of EPS Growth
Note: 2009 has not been restated for subsequent changes in accounting principles or discontinued operations
-$0.10
$0.00
$0.10
$0.30
$0.50
$0.60
2009 2010 2011 2012 2013 2014 2015
Adjusted Earnings Per Share
-2%
0%
10%
2009 2010 2011 2012 2013 2014 2015
Adjusted Consolidated Operating Margin
2.8%
5.2% 5.6%
6.7%
8.3%
6.9%
9.5%
PolyOne Corporation Page 6
2015 Revenues: $3.4 Billion
End Markets
2015 Revenues: $3.4 Billion
PolyOne
At A Glance
$0.12
$0.27 $0.21 $0.13
$0.68
$0.82
$1.00
$1.31
$1.80
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Adjusted EPS
66%
Building &
10%Electrical &
Textiles
Distribution
29%
PP&S
Specialty
51%
$1.96
PolyOne Corporation Page 7
Old
PolyOne
*Operating Income excludes corporate charges and special items
2%
43%
65%
0%
20%
40%
60%
80%
100%
2005 2010 2015 2020
%
o
f O
pe
ra
tin
g
In
co
m
e*
JV's Performance Products & Solutions Distribution Specialty
80%+
Specialty OI $5M $87M $229M
Mix Shift Highlights Specialty Transformation
Transformation
2020
Platinum
Vision
Platinum
Vision
PolyOne Corporation Page 8
Color and Engineered Materials at the
Heart of Specialty Transformation
OPERATING MARGIN
1.7%
4.6% 5.1% 5.5%
7.2%
8.1%
9.7%
12.2%
14.7%
16.7%
20%+
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2020
Platinum
Vision
COLOR, ADDITIVES
AND INKS
1.1% 1.3%
3.4%
5.1%
9.6%
8.0%
8.6%
9.3%
12.1%
14.7%
20%+
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2020
Platinum
Vision
SPECIALTY
ENGINEERED MATERIALS
PolyOne Corporation Page 9
2006 2015 2020
“Where we were” “Where we are” Platinum Vision
1) Operating Income %
Specialty:
Color, Additives & Inks 1.7% 16.7% 20%+
Specialty Engineered Materials 1.1% 14.7% 20%+
Designed Structures & Solutions 1.4% (2012) 3.0% 12 – 14%
Performance Products &
Solutions 5.5% 8.3% 10 – 12%
Distribution 2.6% 6.6% 6.5 – 7.5%
2) Specialty Platform % of
Operating Income 6.0% 65% 80%+
3) ROIC* 5.0% 11.8% 15%
4) Adjusted EPS Growth N/A
25 Consecutive
Quarters of YOY
EPS Growth
Double Digit
Expansion
Proof of Performance & 2020 Goals
*ROIC is defined as TTM adjusted OI divided by the sum of average debt and equity over a 5 quarter period
PolyOne Corporation Page 10
Therma-Tech™ & Sheet
GEON™ Vinyl
Polymer Colorants Therma-Tech™
TPE’s & Film
TPE + OnForce™
Gravi-Tech™
Page 10
Film
Target End Markets… Healthcare
PolyOne Corporation Page 11
TPE + OnForce
OnForce
TPE Vibration Dampening
(SEM/GLS)
TPE & Film
(SEM + DSS)
Polymer Colorants
(CAI)
Thermatech
Thermoplastic Elastomers
TPE + OnForce
OnForce
Thermoplastic Elastomers
Polymer Colorants
(CAI)
Sheet
(DSS)
Source: Outdoor Industry Association
Target End Markets… Outdoor High Performance
PolyOne Corporation Page 12
Sound & Vibration
Management
Fuel Handling
Systems
Interior & Exterior Trim
Structural Braces
& Brackets
Interior Structural
Components
Lighting
Air management
Electronics & Cameras
Fluid Handling
Target End Markets… Automotive
Underhood
Components
Roof Systems
PolyOne Corporation Page 13
Target End Markets… Packaging
PreservaPak™
OnColor™
Smart Batch™
VersaFlex™
TPE Cap Liner
ColorMatrix™
Amosorb™
Oxygen Scavenger
ColorMatrix™
Ultimate™ UV
Light Barrier
OnCap™
Laser Marking
Additives
PolyOne Corporation Page 14
Innovation Drives Earnings Growth
*Specialty Platform revenue from products introduced in last five years
$20
$53
2006 2015
Research & Development
Spending
($ millions)
Specialty Platform
Vitality Index Progression*
14%
28%
2006 2015
Specialty Platform
Gross Margin
12%
43%
2006 2015
Target ≥ 35%
Innovation Pipeline Potential
PolyOne Corporation Page 15
2,883
2,414
2006 2015
Volume
(lbs in millions)
-16%
$103
$192
2006 2015
Commercial, R&D
and Marketing
Spending ($M)
+86%
$303
$721
2006 2015
Adjusted
Gross Margin ($M)
+138%
Investing to Drive Growth
Ours Is Not a Cost Cutting Story
PolyOne Corporation Page 16
Design and Service as a Differentiator
Right Material &
Color
Desired
Product Design
Appropriate
Manufacturing Process
Delivering Concept to
Commercialization
Connecting
the Dots with
iQ Design Labs and
InVisiO Color Design
PolyOne Corporation Page 17
Customer First Through World-Class Service
Strengthening relationships through:
Providing LSS services to small/medium sized customers
Providing training in Customer Centric Selling Skills with customers
World’s Best Business
Process Excellence
Program in 2012*
World’s Best Start-up
program for Lean Six Sigma
Deployment in 2009*
81%
93%
2006 2015
16.2%
9.7%
2006 2015
On-Time Delivery
Working Capital % of Sales
52% of associates trained in LSS
Five consecutive years – CFO Magazine Best Working
Capital Management in the chemical industry
Commitment to Operational Excellence
PolyOne Corporation Page 18
60%
97%
20%
30%
40%
50%
60%
70%
80%
90%
100%
2008 Q4 2015
Pension Funding**
As of December 31, 2015
Debt Maturities & Pension Funding
Net Debt / Adjusted EBITDA*= 2.1x
** includes US-qualified pension plans only *TTM 12/31/2015
$550
$600
$200
$300
$400
$500
$600
$700
$800
2022 2023
Debt Maturities
As of December 31, 2015
($ millions)
Coupon Rate: 3.750% 5.250%
PolyOne Corporation Page 19
Free Cash Flow and Strong Balance Sheet
Fund Investment / Shareholder Return
Expanding our sales,
marketing, and
technical capabilities
Investing in operational
and LSS initiatives
~75% of capital
expenditures fund
growth initiatives Organic
Growth
Acquisitions
Share
Repurchases
Dividends
$0.16
$0.20
$0.32
$0.40
$0.48
$0.10
$0.20
$0.30
$0.40
$0.50
2011 2012 2013 2014 2015 2016
Annual Dividend
Targets that expand
our:
• Specialty offerings
• End market
presence
• Geographic breadth
Synergy opportunities
Adjacent material
solutions
Repurchased nearly
1.0 million shares in
Q4 2015
Repurchased 15.8
million shares since
early 2013
4.2 million shares are
available for
repurchase under the
current authorization
$0.24
PolyOne Corporation Page 20
The New PolyOne: A Specialty Growth Company
Why Invest In PolyOne?
Addressable market exceeds $40 billion
Strong performance demonstrates that our strategy and execution
are working
Megatrends and emerging opportunities align with our strengths
Innovation and services provide differentiation, incremental pricing
power, and competitive advantage
Strong and proven management team driving growth and
performance
PolyOne Corporation Page 21
Appendix
PolyOne Corporation Page 22
Recent Acquisitions
Kraton TPE Assets Magenta Master Fibers
February 2016 – Acquired Kraton’s thermoplastic
elastomer (TPE) assets
Serve personal care, medical, packaging (protective
film) and electronics applications
Purchase price of $72 million represents a multiple
of 9x EBITDA
Adds $35 million in annual revenue and $0.03
accretive to 2016 adjusted EPS
Expands GLS presence in consumer, healthcare,
transportation, and packaging end markets
December 2015 – Acquired Magenta Master Fibers,
an innovative developer of specialty color
concentrates for the global fiber industry
Purchase price of $22 million represents a multiple
of 6.8x EBITDA
Adds $16 million in annual revenue and $0.01
accretive to 2016 adjusted EPS
Broadens portfolio of colorant and additives
technologies for fiber applications and extends
existing reach into strategic end markets such as
transportation and consumer goods
Medical
Baby Care Electronics
Food Packaging
Automotive Textiles Home Textiles
Clothing Outdoor
PolyOne Corporation Page 23
$0.82
$1.00
$1.31
$1.80 $1.96
$0.00
$0.75
$1.50
$2.25
2011 2012 2013 2014 2015
Adjusted EPS
2015 Full Year Financial Highlights
Color Additives & Inks operating
margin reached record level
of 16.7%
Specialty Engineered Materials
operating margin grew 260 basis
points year-over-year to 14.7%
Adjusted EPS has grown on average
24% per year since 2011
$50
$75
$104
$125 $135
$0
$40
$80
$120
$160
2011 2012 2013 2014 2015
CAI Operating Profit
$46 $47
$57
$72
$80
$20
$40
$60
$80
$100
2011 2012 2013 2014 2015
SEM Operating Profit
Note: $ in millions, except per share data
PolyOne Corporation Page 24
1.7%
4.6% 5.1% 5.5%
7.2% 8.1%
9.7%
12.2%
16.7%
20%+
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2020
Operating Income % of Sales
At a Glance
Color, Additives and Inks
2015 Revenues: $0.8 Billion Solutions
Expanding Profits 2015 Revenue by Industry Segment
14.7%
Platinum
Vision
48%
33%
Building &
Electrical &
1%
31%
Textiles
PolyOne Corporation Page 25
1.1% 1.3%
3.4%
5.1%
9.6%
8.0% 8.6% 9.3%
14.7%
20%+
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2020
Operating Income % of Sales
At a Glance
Specialty Engineered Materials
2015 Revenues: $0.5 Billion Solutions
2015 Revenue by Industry Segment Expanding Profits
Platinum
Vision
12.1%
49%
29%
Building &
Electrical &
19%
15%
PolyOne Corporation Page 26
1.4%
5.6%
7.3%
3.0%
12-14%
2012 2013 2014 2015 2020
Operating Income % of Sales
At a Glance
Designed Structures and Solutions
Solutions 2015 Revenues: $0.5 Billion
Expanding Profits 2015 Revenue by Industry Segment
Platinum
Vision
Appliances,
Building &
Construction
Industrial
24%
Packaging
19%
Transportation
33%
97%
PolyOne Corporation Page 27
Building &
31%
Electrical &
1%
5% Transportation
19% Wire & Cable
5.5%
6.9%
3.8% 3.6%
5.5%
4.3%
6.3%
7.2%
8.3%
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2020
Operating Income % of Sales
At a Glance
Performance Products and Solutions
Solutions
Expanding Profits
2015 Revenues: $0.7 Billion
10-12%
Platinum
Vision
2015 Revenue by Industry Segment
7.7%
79%
PolyOne Corporation Page 28
2.6%
3.0%
3.5%
4.0%
4.6%
5.6%
6.4% 5.9%
6.6% 6.5-7.5%
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2020
Operating Income % of Sales
15%
53%
2006 Q4 2015
At a Glance
Distribution
Key Suppliers 2015 Revenues: $1.0 Billion
ROIC Expanding Profits
6.1%
Platinum
Vision
Building &
4%Consumer
Electrical &
23%
24%
http://www.avient.com/Pages/VariationRoot.aspx
PolyOne Corporation Page 29
2 lbs Plastic
=
3 lbs aluminum
or
8 lbs steel
or
27 lbs glass
33% less material by weight
than aluminum
75% less material by weight
than steel
93% less material by weight
than glass
Requires 91% less energy to
recycle a pound of plastic versus
a pound of paper
Source: SPI: Sustainability and the Plastics Industry
Plastics: Key to Future Sustainable Development
PolyOne Corporation Page 30
Application Examples
PolyOne Corporation Page 31
Outdoor Applications
• Leading provider of high performance
specialty materials for the recreational
and sports & leisure industry
• Well positioned across all segments to
address market needs
Metal to Polymer Conversion
Lightweighting
Thermal Management
Impact Performance
Source: Outdoor Industry Association
PolyOne Corporation Page 32
$1.5 billion attractive, growing market
Additives improve performance and reduce cost
through light-weighting, reduced waste, faster
cycle times, and extended shelf life of finished
product
Aligned with megatrend of protecting the
environment:
Sustainability benefits include lower
package weight and improved recyclability
of package at end of use
Market Opportunity
Leading Global Supplier of Additives In Growing PET Market
Shelf-life extension
Greater product
consistency
Recyclability and
reduced carbon
footprint
Color and Special
Effects
Weight reduction
Enhanced product
aesthetics
High heat resistance
PET Bottling Technology
0.0
10.0
20.0
30.0
40.0
50.0
60.0
70.0
2009 2014 2019
Asia Pacific North America
Latin America Western Europe
Eastern Europe Middle East and Africa
Global PET Packaging Growth 2009-2019
Source: Euromonitor retail off-trade consumption (PET bottles & jars, home care, personal care,
food & non-alcoholic beverages)
B
ill
io
n
un
its
5% CAGR
PolyOne Corporation Page 33
• Includes formulation and
consultative services to assist
manufacturers and brand owners in
positively identifying their finished
goods
• Protects brand equity & consumer
welfare
• Reduces exposure to unwarranted
recall expenses
• Secures supply chain integrity –
support for safe expansion into new
geographies
Authentication Technology
PolyOne Corporation Page 34
Metal Replacement Solutions
• Replaces metal in LED lighting
• Extends LED durability and life
span eliminating hot spots
• Greater design flexibility with
fewer parts
• Weight reduction
• Simplifies manufacturing and
lowers total production cost
PolyOne Corporation Page 35
• Color harmonization across
15 unique color-and-polymer
combinations
• Eliminated need for multiple pre-
colored materials
• Reduced Land Rover’s working
capital
Range Rover Evoque Interior
PolyOne Corporation Page 36
• Reduced health and
environmental impact
• System cost reduction
• Radiation-shielding
performance
• Parts consolidation
• Design freedom
CT Scanner
PolyOne Corporation Page 37
High-Barrier Packaging Containers
• Capability to extrude up to 13
layers
• Strong oxygen and moisture
vapor transmission protection
• Can be made symmetrical or
asymmetrical to meet
customized needs of broad
variety of applications
• Barrier protection and superior
sensory properties
PolyOne Corporation Page 38
Aerospace Applications
• Leading provider of specialty materials
for the aerospace industry
• Typical applications
Mil-spec aircraft windows, canopies,
windscreens, instrument panels,
wingtip lenses
Interior – gallery furnishings, tray
tables, arm rests, trim strips, joint/edge
coverings
• Benefits:
High impact strength
Resistant to UV rays
Flame and smoke compliance
Easy to clean with aggressive cleaners;
anti-microbial grades available
Range of sizes, thicknesses, colors, etc.
1
Reconciliation of Non-GAAP Financial Measures (Unaudited)
(Dollars in millions, except per share data)
Below is a reconciliation of non-GAAP financial measures to the most directly comparable measures calculated and presented in accordance with U.S.
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 phase-in costs, executive separation agreements; asset impairments; 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; the effect of changes in accounting principles or other such laws or provisions
affecting reported results; and tax adjustments.
https://www.avient.com/sites/default/files/2022-03/AVNT Mar 2022 Presentation.pdf
In particular, these include statements relating to future actions; prospective changes in raw material
costs, product pricing or product demand; future performance; estimated capital expenditures; results of current and anticipated market conditions and market strategies; sales efforts; expenses; the outcome of contingencies such as
legal proceedings and environmental liabilities; and financial results.
Speed to market is essential today, and Avient plays a crucial role in our customers’
success.
D
is
t.
)
Source: Peer data per Bloomberg market data as of February 15, 2022.
https://www.avient.com/sites/default/files/resources/POL%2520IR%2520Presentation%2520Wells%2520Fargo%252005%252008%25202014%2520w%2520non%2520GAAP.pdf
Factors that could cause actual results to differ materially from those implied by these forward-looking statements include, but are not limited to:
The final amount of charges resulting from the planned North American asset realignment and the Company’s ability to realize anticipated savings and
operational benefits from the asset realignment;
Our ability to achieve the strategic and other objectives relating to the acquisition of Spartech Corporation, including any expected synergies;
Our ability to successfully integrate Spartech and achieve the expected results of the acquisition, including, without limitation, the acquisition being
accretive;
Disruptions, uncertainty or volatility in the credit markets that could adversely impact the availability of credit already arranged and the availability and
cost of credit in the future;
The financial condition of our customers, including the ability of customers (especially those that may be highly leveraged and those with inadequate
liquidity) to maintain their credit availability;
The speed and extent of an economic recovery, including the recovery of the housing market;
Our ability to achieve new business gains;
The effect on foreign operations of currency fluctuations, tariffs, and other political, economic and regulatory risks;
Changes in polymer consumption growth rates in the markets where we conduct business;
Changes in global industry capacity or in the rate at which anticipated changes in industry capacity come online;
Fluctuations in raw material prices, quality and supply and in energy prices and supply;
Production outages or material costs associated with scheduled or unscheduled maintenance programs;
Unanticipated developments that could occur with respect to contingencies such as litigation and environmental matters;
An inability to achieve or delays in achieving or achievement of less than the anticipated financial benefit from initiatives related to working capital
reductions, cost reductions, employee productivity goals, and an inability to raise or sustain prices for products or services;
An inability to raise or sustain prices for products or services;
An inability to maintain appropriate relations with unions and employees;
The inability to achieve expected results from our acquisition activities;
Our ability to continue to pay cash dividends;
The amount and timing of repurchases of our common shares, if any; and
Other factors affecting our business beyond our control, including, without limitation, changes in the general economy, changes in interest rates and
changes in the rate of inflation.
• The above list of factors is not exhaustive.
• We undertake no obligation to publicly update forward-looking statements, whether as a result of new information, future events or otherwise.
Use of Non-GAAP Measures
Page 3
PolyOne Commodity to Specialty Transformation
• Volume driven,
commodity producer
• Heavily tied to cyclical
end markets
• Performance largely
dependent on non-
controlling joint
ventures
2000-2005 2006 - 2009 2010 – 2014 2015 and beyond
• Steve Newlin
appointed, Chairman,
President and CEO
• New leadership team
appointed
• Implementation of
four pillar strategy
• Focus on value based
selling, investment in
commercial resources
and innovation to drive
transformation
• 18 consecutive
quarters of double-
digit adjusted EPS
growth
• Shift to faster growing,
high margin, less
cyclical end markets
• Key acquisitions propel
current and future
growth, as well as
margin expansion
• Established aggressive
2015 targets
• Continue specialty
transformation
• Targeting $2.50
Adjusted EPS by 2015,
nearly double 2013
EPS
• Drive double digit
operating income and
adjusted EPS growth
Confirmation of Our Strategy
The World’s Premier Provider of Specialized
Polymer Materials, Services and Solutions
Specialization Globalization
Operational
Excellence
Commercial
Excellence
-150.00%
-50.00%
50.00%
150.00%
250.00%
350.00%
450.00%
PolyOne S&P 500 Russell 2000 Dow Jones Chemical
All time high of
$39.28
April 4th, 2014
• 18 consecutive quarters of
double digit EPS growth
• 49% CAGR adjusted EPS
expansion 2006-2013
• 2013 stock price increased
73% versus 30% growth in the
S&P
• More than seven fold increase in
market cap: $0.5b $3.6b
Strategy and Execution Drive Results
Page 6
Appliance
4%
Building &
Construction
13%
Wire & Cable
9%
Electrical &
Electronics
5%
Consumer
10%Packaging
16%
Industrial
12%
HealthCare
11%
Transportation
18%
Misc.
2%
0.12
0.27 0.21
0.13
0.68
0.82
1.00
1.31
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 2013 2015
Target
Ad
ju
st
ed
E
ar
ni
ng
s P
er
S
ha
re
2013 Revenues: $3.8 Billion
End Markets
2013 Revenues: $3.8 Billion
EPS
Page 7
PolyOne
At A Glance
United
States
67%
Europe
14%
Canada
7% Asia
6%
Latin
America
6%
Specialty
54%
PP&S
18%
Distribution
28%
Mix Shift Highlights Specialty Transformation
Page 8
Old
PolyOne Transformation
*Operating Income excludes corporate charges and special items
2%
34% 43%
62% 64%
0%
20%
40%
80%
2005 2008 2010 2013 Q1 2014 2015
%
o
f O
pe
ra
tin
g
In
co
m
e*
JV's Performance Products & Solutions Distribution Specialty
65-75%
Specialty OI $5M $46M $87M $195M $60M Target
2015
Target
Proof of Performance & 2015 Goals
Page 9
2006 Q1 2014 2015
“Where we were” “Where we are” Target
1) Operating Income %
Specialty:
Global Color, Additives & Inks 1.7% 13.8% 12 – 16%
Global Specialty Engineered
Materials 1.1% 11.6% 12 – 16%
Designed Structures & Solutions -- 6.5% 8 – 10%
Performance Products &
Solutions 5.5% 7.7% 9 – 12%
Distribution 2.6% 6.1% 6 – 7.5%
2) Specialty Platform % of
Operating Income 6.0% 64% 65 – 75%
3) ROIC* (after-tax) 5.0% 9.4% 15%
4) Adjusted EPS Growth N/A 42% Double Digit
Expansion
*ROIC is defined as TTM adjusted OI divided by the sum of average debt and equity over a 5 quarter period
Bridge to $2.50 Adjusted EPS by 2015
2015 EPS: $2.50
2013 EPS: $1.31
Continued Gross Margin
Expansion
Mergers & Acquisitions
Spartech Accretion
Incremental share buybacks
Ongoing LSS Programs
(50-100 bps/yr)
Accelerated Innovation
& Mix Improvement Several Levers to
Drive Growth
Mid single digit revenue CAGR
Innovation Drives Earnings Growth
$20.3
$52.3
2006 2013
Research & Development
Spending
($ millions)
Specialty Platform
Vitality Index Progression*
*Percentage of Specialty Platform revenue from products introduced in last five years
Page 11
14.3%
30.7%
2006 2013
Specialty Platform
Gross Margin %
19.5%
42.0%
2006 Q1 2014
Healthcare
Consumer
Packaging and Additive Technology
Transportation
Page 12
Unique and Innovative Solutions
https://www.dropbox.com/sh/dwe4t8aacvhb8ui/uD3p_bdglP/Presentation revise pics/GLS Beverage can closure XO 2.jpg
https://www.dropbox.com/sh/dwe4t8aacvhb8ui/-YgkycKypw/Anti-Counterfeiting release & images/GN1979.JPG
60%
100%
20%
30%
40%
50%
60%
70%
80%
90%
100%
2008 2014
Pension Funding**
As of March 31, 2014
Debt Maturities & Pension Funding – 3/31/14
Net Debt / EBITDA* = 1.9x
$48
$317
$600
$0
$100
$200
$300
$400
$500
$600
$700
$800
2015 2020 2023
Debt Maturities
As of March 31, 2014
($ millions)
Coupon Rates: 7.500% 7.375% 5.250%
** includes US-qualified pension plans only *TTM 3/31/2014
Free Cash Flow and Strong Balance Sheet
Fund Investment / Shareholder Return
$0.16
$0.20
$0.24
$0.32
$0.10
$0.20
$0.30
$0.40
2011 2012 2013 2014
Annual Dividend
Expanding our sales,
marketing, and technical
capabilities
Investing in operational and
initiatives that drive
profitability growth
Manufacturing realignment
Targets that expand our:
• Specialty offerings
• End market presence
• Geographic footprint
• Operating Margin
Synergy opportunities
Adjacent material solutions
Repurchased 1.4 million
shares in Q1 2014
Repurchased 6.4 million
shares since April 2013
13.6 million shares are
available for repurchase
under the current
authorization
Organic
Growth
Acquisitions
Share
Repurchases
Dividends
The New PolyOne: A Specialty Growth Company
Why Invest In PolyOne?
Strong past performance demonstrates that our strategy and execution
are working
Megatrends and emerging opportunities align with our strengths
Innovation and services provide differentiation, incremental pricing
power, and competitive advantage
Strong and proven management team driving growth and performance
Addressable market exceeds $40 billion
Schedule I
Reconciliation of Non-GAAP Financial Measures (Unaudited)
(Dollars in millions, except per share data)
Below is a reconciliation of non-GAAP financial measures to the most directly comparable measures calculated and
presented in accordance with U.S.