https://www.avient.com/sites/default/files/2022-05/AVNT May IR Presentation w Non GAAP Recs.pdf
Morgan • New Senior Secured Term Loan B and new Senior Unsecured Notes • Potential proceeds from sale of Distribution business modeled to pay off 5.25% senior notes due 2023 and Term Loan • Acquisition aligned with Avient’s track record of disciplined capital allocation policy • Existing dividend policy maintained, focus on deleveraging in the near term (1) (1) Pro forma for the acquisition of Dyneema® and potential divestiture of Distribution, including repayment of senior notes due 2023 and Term Loan Cash and Cash Equivalents 595$ Senior Secured Term Loan due 2026 605$ New Senior Secured Term Loan B 500 Total Senior Secured Debt 1,105$ Senior Unsecured Notes due 2025 650$ New Senior Unsecured Notes 740 Total Senior Unsecured Debt 1,390$ Total Debt 2,495$ Net Debt 1,900$ 2022 Pro forma Adjusted EBITDA 660$ Net Debt / Adjusted EBITDA 2.9x Pro Forma Capitalization (2022 estimates, all figures in $M) TWO-YEAR LEVERAGE GOAL 33 3.5x 2.7x 1.7x 2.9x 2.5x 2.2x 2019PF 2020PF 2022E 2022PF 2023E 2024E Dyneema® AcquisitionClariant Color Acquisition (1) Pro forma for the acquisition of the Clariant Color business (2) Pro forma for the acquisition of Dyneema® and potential divestiture of Distribution, including repayment of senior notes due 2023 and Term Loan (1) (1) (2) 34 PRO FORMA MODELING 2022E Pro Forma Pro Forma ($M) w/ Dyneema w/Sale Revenue 5,100$ 415$ 5,515$ (1,775)$ 3,740$ Adjusted EBITDA 635 130 765 (105) 660 EBITDA % 12% 31% 14% 6% 18% Pro Forma EPS (Adjusted) 3.50$ 0.00$ 3.50$ (0.56)$ 2.94$ Pro Forma EPS (excl. amortization) 3.96$ 0.35$ 4.31$ (0.56)$ 3.75$ Leverage (12/31/2022E) Net Debt / Adjusted EBITDA 1.7x 3.5x 2.9x Avient Dyneema Distribution® ® OUR SPECIALTY JOURNEY ACQUISITION HISTORY 36 Commercial Resources(1) Operating Income ($ in millions) Operating Margins 259 360 At Acquisition 2021 $40 $122 At Acquisition 2021 9% 21% At Acquisition 2021 Established Acquisitions (> 7 years) + 39% + 210% + 1200 bps (1) Commercial Resources include associate headcount in R&D / Technical, Marketing and Sales CLARIANT COLOR ACQUISITION 37 $133 $205 2019PF 2021 37 Clariant Color EBITDA Growth Purchase Price Multiple 10.8x 7.0x 6.1x 2019PF 2021 2021 w/ Full Synergies • Acquisition of Clariant Color business significantly expanded presence in healthcare, packaging and consumer end markets • Strength of portfolio – double-digit annual EBITDA growth since acquisition • $54 million of synergies realized in 2021 • Acquisition completed on July 1, 2020 for $1.45 billion.
https://www.avient.com/sites/default/files/resources/September%2520Investor%2520Presentation.pdf
Cable jacket/sheath– Made of PE or PVC 9 Fiber-Line Product PolyOne Materials F I B E R O P T I C A L G R O W T H D R I V E R S PolyOne Corporation 22 5G Networks Enable lower latency, greater flexibility & efficiency Installation of these networks are in the very early stages Installation will start in urban hubs and will continue to expand into suburban and rural areas By 2025, only 14% of the world will have 5G connections Growth is expected over multi- year period 5G technology will be a leading growth driver in fiber optic cable for several years 10x Speed Increase & 8x More Antennae Required 5G vs. 4G PolyOne Corporation 23 Safety Technology Geography Service FinancialPeople Low EH&S risk profile New and complementary technologies Leverage our global footprint Strong customer relationships Foundational operating margins of 8-10% with ability to double Motivated team with a specialty culture I N V E S T - T O - G R O W M & A S T R A T E G Y PolyOne Corporation 24 Capture sourcing synergies Cross-sell & blend technology 8-10% operating margins I N V E S T - T O - G R O W M & A P L A Y B O O K Protect customers Retain employees Implement LSS to drive efficiency improvements Innovate with combined portfolio Safety First!
https://www.avient.com/sites/default/files/resources/PolyOne%25202015%2520Annual%2520Report.pdf
La Mirada, California 8.
La Porte, Texas Wisconsin Canada 6.
The estimated future benefit payments for our pension and health care plans are as follows: (In millions) Pension Benefits Health Care Benefits 2016 $ 39.8 $ 1.2 2017 39.2 1.2 2018 39.1 1.2 2019 38.3 1.1 2020 38.3 1.0 2021 through 2025 180.8 4.3 We currently estimate that 2016 employer contributions will be $24.6 million to all qualified and non- qualified pension plans and $1.2 million to all healthcare benefit plans.