https://www.avient.com/sites/default/files/resources/Gabelli%2520Conf%2520-%2520POL%2520IR%2520Presentation%2520wNon%2520GAAP%2520Reconciliation%252003%252026%252015.pdf
S&P 500
All time high of
$43.34
July 1st, 2014
PolyOne Corporation Page 9
2006 2014 2015 Target
“Where we were” “Where we are” (Est. in 2012)
1) Operating Income %
Specialty:
Global Color, Additives & Inks 1.7% 14.7% 12 – 16%
Global Specialty Engineered
Materials 1.1% 12.1% 12 – 16%
Designed Structures & Solutions 1.4% (2012) 7.3% 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% 65% 65 – 75%
3) ROIC* 5.0% 11.3% 15%
4) Adjusted EPS Growth N/A 37% Double Digit Expansion
*ROIC is defined as TTM adjusted OI divided by the sum of average debt and equity over a 5 quarter period
Proof of Performance & 2015 Goals
PolyOne Corporation Page 10
Continuing Earnings Growth
Double
Digit EPS
Expansion
Ongoing LSS
Programs
Incremental
Share
Buybacks
Mergers &
Acquisitions
Continued
Gross
Margin
Expansion
Mid Single
Digit
Revenue
Growth
Accelerated
Innovation &
Mix
Improvement
PolyOne Corporation Page 11
Innovation Drives Earnings Growth
*Percentage of Specialty Platform revenue from products introduced in last five years
$20
$53
2006 2014
Research & Development
Spending
($ millions)
Specialty Platform
Vitality Index Progression*
14%
27%
2006 2014
Specialty Platform
Gross Margin %
20%
44%
2006 2014
Specialty Vitality Index Target ≥ 35%
PolyOne Corporation Page 12
Megatrends Aligned with Key End Markets
Decreasing
Dependence
on Fossil
Fuels
Protecting
the
Environment
Improving
Health and
Wellness
Megatrend End Markets
Globalizing
and
Localizing
Health &
Wellness
Transportation
Packaging
Consumer
PolyOne Corporation Page 13
60%
94%
20%
30%
40%
50%
60%
70%
80%
90%
100%
2008 2014
Pension Funding**
As of December 31, 2014
Debt Maturities & Pension Funding – 12/31/14
Net Debt / EBITDA* = 1.9x
$49
$317
$600
$0
$100
$200
$300
$400
$500
$600
$700
$800
2015 2020 2023
Debt Maturities
As of December 31, 2014
($ millions)
Coupon Rate: 7.500% 7.375% 5.250%
** includes US-qualified pension plans only *TTM 12/31/2014
PolyOne Corporation Page 14
Free Cash Flow and Strong Balance Sheet
Fund Investment / Shareholder Return
Expanding our sales,
marketing, and
technical capabilities
Investing in operational
and LSS initiatives
(including synergy
capture)
~75% of capital
expenditures fund
growth initiatives
Organic
Growth
Acquisitions
Share
Repurchases
Dividends
$0.16
$0.20
$0.24
$0.32
$0.40
$0.10
$0.20
$0.30
$0.40
$0.50
2011 2012 2013 2014 2015
Annual Dividend
Targets that expand
our:
• Specialty offerings
• End market
presence
• Geographic breadth
• Operating Margin
Synergy opportunities
Adjacent material
solutions
Repurchased 1.6
million shares in Q4
2014
Repurchased 11.3
million shares since
early 2013
8.7 million shares are
available for
repurchase under the
current authorization
PolyOne Corporation Page 15
PolyOne Core Values
Innovation
Collaboration
Excellence
PolyOne Corporation Page 16
The New PolyOne: A Specialty Growth Company
Why Invest In PolyOne?
Gabelli Conf - POL IR Presentation
��PolyOne Investor Presentation�Gabelli Specialty Chemicals Conference�March 2015��
Forward-Looking Statements
Use of Non-GAAP Measures
PolyOne Commodity to Specialty Transformation
PolyOne�At A Glance
Mix Shift Highlights Specialty Transformation
Confirmation of Our Strategy
Strategy and Execution Drive Results
Proof of Performance & 2015 Goals
Continuing Earnings Growth
Innovation Drives Earnings Growth
Megatrends Aligned with Key End Markets
Debt Maturities & Pension Funding – 12/31/14
Free Cash Flow and Strong Balance Sheet �Fund Investment / Shareholder Return
PolyOne Core Values
Why Invest In PolyOne?
https://www.avient.com/sites/default/files/2021-05/avnt-first-quarter-2021-earnings-presentation.pdf
Operating Income
$3,783
$4,100
2020PF 2021E
Adjusted EPS
(1) Financial information is pro forma to include a full year of Clariant Masterbatch business acquisition
Previous
Guidance
Current
Guidance
$3,783
$4,300
2020PF 2021E
$308
$360
2020PF 2021E
$308
$410
2020PF 2021E
$1.93
$2.40
2020PF 2021E
$1.93
$2.80
2020PF 2021E
(1) (1)(1)
(1)(1) (1)
(in millions) (in millions)
12
BALANCE SHEET
• Deleveraging to 1.9x net debt to
adjusted EBITDA by the end of
2021
• Driven by record adjusted EBITDA
performance and strong free cash
flow generation from asset light
business
• Future cash deployment: M&A,
opportunistic share repurchases
and balance sheet / continued
leverage reduction
3.5x
2.7x
1.9x
2019PF 2020PF 2021E
Net Debt / Adjusted EBITDA
(1) (1)
($ in m illions)
2021E Adjusted EBITDA 560$
Free Cash Flow 275$
Total Debt 1,860
Less: Cash (800)
Net Debt 1,060$
2021E Net Debt / Adjusted EBITDA 1.9x
(1) Financial information is pro forma to include a full year of Clariant Masterbatch business acquisition
S U S TA I NA B I L I T Y
• Most recent Sustainability report substantially expanded disclosure on
key environmental and social topics
https://www.avient.com/sites/default/files/resources/Polyolefins%2520Product%2520Selection%2520Guide.pdf
Chemically coupled
• Natural or black
• High flow grades
• Provides heat stabilization
• Excellent balance of properties
• Natural, black or custom colors
Product Code - - - PX5430 B1 PX5435 B1 PX5440 B1 PX5450 B1
Reinforcement Type - - - Glass Glass Glass Glass
Reinforcement % - % - 30 35 40 50
Specific Gravity 73°F (23°C) - ISO 1183 1.13 1.18 1.23 1.35
Tensile Strength Yield MPa ISO 527 102 105 113 130
Flexural Modulus 73°F (23°C) MPa ISO 178 6500 8000 9400 11,500
Notched Izod Impact 73°F (23°C) kJ/m2 ISO 180 9.4 9.3 11.0 12.0
Heat Deflection 264 psi °C ISO 75 152 152 153 154
Product Code - - - PP5120 B270-LO
MFR g/10 min ISO 1133 12
Tensile Modulus MPa ISO 527 3320
Tensile Stress Yield MPa ISO 527 32
Tensile Elongation Yield % ISO 527 4.6
Tensile Elongation Break % ISO 527 17
Flexural Modulus MPa ISO 178 3000
Charpy Impact 73°F (23°C) kJ/m2 ISO 179/1eU 38
Heat Aging 150°C h VW 44045 700 hr
VOC µg/g VDA 278 23.5
Fog µg/g VDA 278 30.5
Carbon Emissions µgC/g VDA 277 18
Odor Grade VDA 270 B3 3
• High flow grades
• UV stabilized
PROPERTY CONDITION UNITS METHOD PRODUCT EXAMPLES
INJECTION MOLDING POLYPROPYLENE
PROPERTY CONDITION UNITS METHOD PRODUCT EXAMPLES
10
Maxxam™ Filled
& Reinforced
Polypropylene
A range of melt flows to process well in
sheet extrusion, thermoforming, profile
extrusion and blow molding operations
FDA certifiable
• Scratch & mar resistant
• Impact modified
• Natural, black or colors
• UV stabilized
• Chemically coupled
EXTRUSION & BLOW MOLDING POLYPROPYLENE
Product Code - - - EP6713 B1
EP6130
B10
EP6430
B1
EP5240
B145
EP7920
B1
Reinforcement
Type
- - - Talc Mineral Glass CaCO3
Glass/
Mineral
Reinforcement
%
- % - 13 30 30 40 20
Specific
Gravity
73°F (23°C) - ASTM D792 0.99 1.12 1.12 1.25 1.05
ISO 1183
Tensile
Strength
Yield psi ASTM D638 4800 4200 10,000 3600 6500
MPa ISO 527 31 29 69 35 45
Tensile
Elongation
Yield % ASTM D638 6 8 2 5 6
ISO 527
Break % ASTM D638 100 110 5 70 100
ISO 527
Flexural
Modulus
73°F (23°C) psi ASTM D790 325,000 360,000 850,000 350,000 400,000
MPa ISO 178 2250 2400 5800 2400 2750
Notched
Izod Impact
73°F (23°C) ft-lb/in ASTM D256 4.0 1.5 4.3 1.1 2.4
kJ/m2 ISO 180 20.0 8.0 24.0 6.0 13.0
Heat
Deflection
66 psi °F ASTM D648 230 242 315 240 293
°C ISO 75 110 115 157 116 145
264 psi °F ASTM D648 130 158 270 140 212
°C ISO 75 54 68 132 60 100
PROPERTY CONDITION UNITS METHOD PRODUCT EXAMPLES
111.866.POLYONE www.polyone.com
EXTRUSION & BLOW MOLDING POLYPROPYLENE
Maxxam™ Filled
& Reinforced
High Density
Polyethylene
Specifically designed for blow molding and sheet
extrusion/thermoforming of structural parts.
https://www.avient.com/sites/default/files/2023-03/Avient Annual Report 2022.pdf
Amounts invested in our foreign
operations are translated into U.S. dollars at the exchange rates in effect at the balance sheet date.
The resulting
translation adjustments are recorded as a component of Accumulated other comprehensive (loss) income in the
Shareholders’ equity section of the accompanying Consolidated Balance Sheets.
These undiscounted amounts are included in Accrued expenses and other current
liabilities and Other non-current liabilities on the accompanying Consolidated Balance Sheets.
https://www.avient.com/sites/default/files/resources/Polyone%2520AR.pdf
Off-Balance Sheet Arrangements
We have no material off-balance sheet arrangements as defined in Item 303(a)(4)(ii) of Regulation S-K.
Amounts invested in our foreign
operations are translated into U.S. dollars at the exchange rates in effect at the balance sheet date.
These undiscounted amounts are included in Accrued expenses and other current liabilities and
Other non-current liabilities on the accompanying Consolidated Balance Sheets.
https://www.avient.com/sites/default/files/resources/Terms_and_Conditions_of_Sale_for_Finland_%2528English_Language_Version%2529.pdf
SAFETY & HEALTH INDEMNITY
Buyer acknowledges that Seller has furnished to Buyer Material Safety Data
Sheets as required under applicable laws and regulations, which include
warnings together with safety and health information concerning the Product
and/or the containers for such Product.
https://www.avient.com/sites/default/files/2023-01/Hydrocerol Chemical Foaming Agents for Injection Molding Technical Bulletin.pdf
The activation of Hydrocerol Chemical Foaming
Agents should happen approximately in the middle
of the barrel exceeding the temperature indicated in
the technical data sheet of the processed Hydrocerol
concentrates grade.
https://www.avient.com/sites/default/files/resources/POL%2520IR%2520Presentation%2520-%2520RW%2520Baird%2520Conference%2520w%2520non-GAAP.pdf
S&P 500
-150%
-50%
50%
150%
250%
350%
450%
550%
POL S&P 500
All time high of
$43.34
July 1st, 2014
PolyOne Corporation Page 9
2006 2014 YTD 2015
“Where we were” “Where we are” Target
1) Operating Income %
Specialty:
Global Color, Additives & Inks 1.7% 14.9% 12 – 16%
Global Specialty Engineered
Materials
1.1% 12.1% 12 – 16%
Designed Structures & Solutions -- 7.6% 8 – 10%
Performance Products &
Solutions
5.5% 8.1% 9 – 12%
Distribution 2.6% 6.2% 6 – 7.5%
2) Specialty Platform % of
Operating Income
6.0% 65% 65 – 75%
3) ROIC* 5.0% 10.6% 15%
4) Adjusted EPS Growth N/A 37%
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
PolyOne Corporation Page 10
32% Adjusted EPS CAGR from 2011
2015 EPS: $2.50
2011 EPS: $0.82
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 Growth
PolyOne Corporation Page 11
Innovation Drives Earnings Growth
*Percentage of Specialty Platform revenue from products introduced in last five years
$20
$53
2006 2013
Research & Development
Spending
($ millions)
Specialty Platform
Vitality Index Progression*
14%
31%
2006 2013
Specialty Platform
Gross Margin %
20%
43%
2006 2013
Specialty Vitality Index Target ≥ 35%
Vitality Products
+ 700 to 1000 bps
PolyOne Corporation Page 12
Prototype Frame
Opportunity
Scale-up &
Test Market
Build
Business Case
Commercial
Launch
Phase
1
Phase
2
Phase
3
Phase
4
Phase
5
4
11
5
10
6
9
3 4 2
15
9
1
10
4
Breakthrough
Platform
Derivative
A Rich Pipeline of Opportunity
Number of Projects 25 14 19 17 18 93
Addressable Market
($ millions)
TBD TBD $800 $450 $450 $1,700
PolyOne Corporation Page 13
Megatrends Aligned with Key End Markets
Decreasing
Dependence
on Fossil
Fuels
Protecting
the
Environment
Improving
Health and
Wellness
Megatrend End Markets
Globalizing
and
Localizing
Health &
Wellness
Transportation
Packaging
Consumer
PolyOne Corporation Page 14
60%
100%
20%
30%
40%
50%
60%
70%
80%
90%
100%
2008 2014
Pension Funding**
As of September 30, 2014
Debt Maturities & Pension Funding – 9/30/14
Net Debt / EBITDA* = 1.7x
$48
$317
$600
$0
$100
$200
$300
$400
$500
$600
$700
$800
2015 2020 2023
Debt Maturities
As of September 30, 2014
($ millions)
Coupon Rates: 7.500% 7.375% 5.250%
** includes US-qualified pension plans only *TTM 9/30/2014
PolyOne Corporation Page 15
Free Cash Flow and Strong Balance Sheet
Fund Investment / Shareholder Return
Expanding our sales, marketing,
and technical capabilities
Targets that expand our:
• Specialty offerings
• End market presence
• Geographic footprint
• Operating Margin
Synergy opportunities
Adjacent material solutions
Repurchased 1.5 million shares in
Q3 2014
Repurchased 9.7 million
shares since early 2013
10.3 million shares are
available for
repurchase under the
current authorization
Organic
Growth
Acquisitions
Share
Repurchases
Dividends
Investing in operational and
LSS initiatives (including
synergy capture)
Manufacturing alignment
$0.16
$0.20
$0.24
$0.32
$0.40
$0.10
$0.20
$0.30
$0.40
$0.50
2011 2012 2013 2014 2015
Annual Dividend
PolyOne Corporation Page 16
PolyOne Core Values
Innovation
Collaboration
Excellence
PolyOne Corporation Page 17
The New PolyOne: A Specialty Growth Company
Why Invest In PolyOne?
https://www.avient.com/sites/default/files/resources/POL%2520IR%2520Presentation%2520-%2520Credit%2520Suisse%2520Conference%2520w%2520non-GAAP%252009%252018%25202014.pdf
S&P 500
-150%
-50%
50%
150%
250%
350%
450%
550%
POL S&P 500
All time high of
$43.34
July 1st, 2014
PolyOne Corporation Page 9
2006 2014 YTD 2015
“Where we were” “Where we are” Target
1) Operating Income %
Specialty:
Global Color, Additives & Inks 1.7% 15.2% 12 – 16%
Global Specialty Engineered
Materials
1.1% 11.8% 12 – 16%
Designed Structures & Solutions -- 7.1% 8 – 10%
Performance Products &
Solutions
5.5% 8.0% 9 – 12%
Distribution 2.6% 6.0% 6 – 7.5%
2) Specialty Platform % of
Operating Income
6.0% 66% 65 – 75%
3) ROIC* 5.0% 9.9% 15%
4) Adjusted EPS Growth N/A 40%
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
(Est. in 2012)
PolyOne Corporation Page 10
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
PolyOne Corporation Page 11
Innovation Drives Earnings Growth
*Percentage of Specialty Platform revenue from products introduced in last five years
$20
$53
2006 2013
Research & Development
Spending
($ millions)
Specialty Platform
Vitality Index
Progression*
14.3%
30.7%
2006 2013
Specialty Platform
Gross Margin %
19.5%
43.0%
2006 2013
Specialty Vitality Index Target ≥ 35%
PolyOne Corporation Page 12
Prototype Frame
Opportunity
Scale-up &
Test Market
Build
Business Case
Commercial
Launch
Phase
1
Phase
2
Phase
3
Phase
4
Phase
5
4
11
5
10
6
9
3 4 2
15
9
1
10
4
Breakthrough
Platform
Derivative
A Rich Pipeline of Opportunity*
Number of Projects 25 14 19 17 18 93
Addressable Market
($ millions)
TBD TBD $800 $450 $450 $1,700
*Pipeline as of May 29, 2014 as presented during our Innovation Day
PolyOne Corporation Page 13
Megatrends Aligned with Key End Markets
Decreasing
Dependence
on Fossil
Fuels
Protecting
the
Environment
Improving
Health and
Wellness
Megatrend End Markets
Globalizing
and
Localizing
Health &
Wellness
Transportation
Packaging
Consumer
PolyOne Corporation Page 14
60%
100%
20%
30%
40%
50%
60%
70%
80%
90%
100%
2008 2014
Pension Funding**
As of June 30, 2014
Debt Maturities & Pension Funding – 6/30/14
Net Debt / EBITDA* = 1.8x
$48
$317
$600
$0
$100
$200
$300
$400
$500
$600
$700
$800
2015 2020 2023
Debt Maturities
As of June 30, 2014
($ millions)
Coupon Rates: 7.500% 7.375% 5.250%
** includes US-qualified pension plans only *TTM 6/30/2014
PolyOne Corporation Page 15
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
Targets that expand our:
• Specialty offerings
• End market presence
• Geographic footprint
• Operating Margin
Synergy opportunities
Adjacent material solutions
Repurchased 1.8 million shares in
Q2 2014
Repurchased 8.2 million
shares since early 2013
11.8 million shares are
available for
repurchase under the
current authorization
Organic
Growth
Acquisitions
Share
Repurchases
Dividends
Investing in operational and
LSS initiatives (including
synergy capture)
Manufacturing alignment
PolyOne Corporation Page 16
PolyOne Core Values
Innovation
Collaboration
Excellence
PolyOne Corporation Page 17
The New PolyOne: A Specialty Growth Company
Why Invest In PolyOne?
https://www.avient.com/sites/default/files/resources/POL%2520IR%2520Presentation%2520-%2520KeyBanc%2520Conference%2520w%2520nonGAAP.pdf
S&P 500
-150%
-50%
50%
150%
250%
350%
450%
550%
POL S&P 500
All time high of
$43.34
July 1st, 2014
PolyOne Corporation Page 9
2006 2014 YTD 2015
“Where we were” “Where we are” Target
1) Operating Income %
Specialty:
Global Color, Additives & Inks 1.7% 15.2% 12 – 16%
Global Specialty Engineered
Materials
1.1% 11.8% 12 – 16%
Designed Structures & Solutions -- 7.1% 8 – 10%
Performance Products &
Solutions
5.5% 8.0% 9 – 12%
Distribution 2.6% 6.0% 6 – 7.5%
2) Specialty Platform % of
Operating Income
6.0% 66% 65 – 75%
3) ROIC* 5.0% 9.9% 15%
4) Adjusted EPS Growth N/A 40%
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
(Est. in 2012)
PolyOne Corporation Page 10
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
PolyOne Corporation Page 11
Innovation Drives Earnings Growth
*Percentage of Specialty Platform revenue from products introduced in last five years
$20
$53
2006 2013
Research & Development
Spending
($ millions)
Specialty Platform
Vitality Index
Progression*
14.3%
30.7%
2006 2013
Specialty Platform
Gross Margin %
19.5%
43.0%
2006 2013
Specialty Vitality Index Target ≥ 35%
PolyOne Corporation Page 12
Prototype Frame
Opportunity
Scale-up &
Test Market
Build
Business Case
Commercial
Launch
Phase
1
Phase
2
Phase
3
Phase
4
Phase
5
4
11
5
10
6
9
3 4 2
15
9
1
10
4
Breakthrough
Platform
Derivative
A Rich Pipeline of Opportunity*
Number of Projects 25 14 19 17 18 93
Addressable Market
($ millions)
TBD TBD $800 $450 $450 $1,700
*Pipeline as of May 29, 2014 as presented during our Innovation Day
PolyOne Corporation Page 13
Megatrends Aligned with Key End Markets
Decreasing
Dependence
on Fossil
Fuels
Protecting
the
Environment
Improving
Health and
Wellness
Megatrend End Markets
Globalizing
and
Localizing
Health &
Wellness
Transportation
Packaging
Consumer
PolyOne Corporation Page 14
60%
100%
20%
30%
40%
50%
60%
70%
80%
90%
100%
2008 2014
Pension Funding**
As of June 30, 2014
Debt Maturities & Pension Funding – 6/30/14
Net Debt / EBITDA* = 1.8x
$48
$317
$600
$0
$100
$200
$300
$400
$500
$600
$700
$800
2015 2020 2023
Debt Maturities
As of June 30, 2014
($ millions)
Coupon Rates: 7.500% 7.375% 5.250%
** includes US-qualified pension plans only *TTM 6/30/2014
PolyOne Corporation Page 15
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
Targets that expand our:
• Specialty offerings
• End market presence
• Geographic footprint
• Operating Margin
Synergy opportunities
Adjacent material solutions
Repurchased 1.8 million shares in
Q2 2014
Repurchased 8.2 million
shares since early 2013
11.8 million shares are
available for
repurchase under the
current authorization
Organic
Growth
Acquisitions
Share
Repurchases
Dividends
Investing in operational and
LSS initiatives (including
synergy capture)
Manufacturing alignment
PolyOne Corporation Page 16
PolyOne Core Values
Innovation
Collaboration
Excellence
PolyOne Corporation Page 17
The New PolyOne: A Specialty Growth Company
Why Invest In PolyOne?