https://www.avient.com/sites/default/files/2022-08/Avient Candidates Data Privacy Notice Final - Russian.pdf
https://www.avient.com/sites/default/files/2022-08/Avient Candidates Data Privacy Notice Final - German.pdf
https://www.avient.com/sites/default/files/2022-08/Avient Candidates Data Privacy Notice Final - French.pdf
https://www.avient.com/sites/default/files/2022-09/FR Healthy Bldg Codes Application Snapshot.pdf
PROFILE/SHEET EXTRUDER
R A I L S A N D K I C K P L A T E S
• Convert existing PVC profile and sheet rails and kick plates to
polyolefin resin to meet Class A fire safety (ASTM E84)
• Provide a system that meets healthy building certifications
and approvals
• Utilize a more sustainable flame retardant technology,
removing brominated or halogenated flame retardants from
the environment
• Achieve non-compromising performance in aesthetics,
impact, dimensional stability, CLTE, and E84 testing
• Provided broad flame retardant platform, backed by
extensive application and industry expertise, to meet
global flammability standards
• Has largest UL94 recognized Prospector membership
with HB, V-0, V-1, V-2 and 5VA/5VB ratings, and broad
glow wire performance products
• Included in-house UL certified labs and manufacturing
locations to perform UL94 material sampling and testing
• Supported application development to meet fire safety
standards, address current or emerging healthy building
codes, smart home requirements, and LEED credits
• Offered custom formulations in small lot quantities
Cesa™ Flam Non-Halogen Flame Retardants
KEY REQUIREMENTS
WHY AVIENT?
https://www.avient.com/sites/default/files/2022-11/AVNT Q3 2022 Earnings Presentation - Website Final.pdf
Additionally, Adjusted EPS excludes the impact of special items and amortization expense
associated with intangible assets.2
T RAN S FO R MAT IO NAL
OVE RV IE W
Avient Protective
Materials
Dyneema
®
RECENT TRANSACTIONS
Acquired Divested
$1.45 B $0.95 B
4
Distribution
UPDATED CAPITAL STRUCTURE
& LIQUIDITY
• Proceeds from completed
sale of Distribution used to
pay near-term maturing debt
to strengthen balance sheet
• Fixed/floating debt ratio of
~55/45
• Proven track record of
deleveraging following major
acquisitions through strong
free cash flow generation
• 2022 pro forma net
debt/adjusted EBITDA
expected to be 3.1x
$725 $725
$575 $500
$600
$525
$650
$650
$600
Capital Structure
Cash
$544
Undrawn
Revolver
$250
Liquidity
$3.15B
$2.40B
2030 Notes
2029 Term Loan
2026 Term Loan
2025 Notes
2023 Notes
After Dyneema
Acquisition
After Distribution
Divestiture
$794M
(1) $250M reflects estimated undrawn revolver following the divestiture of Distribution
5
PREVIOUS TRANSACTIONS
Performance
Solutions
Products &
$0.8 B
COLOR
$1.4 B
Acquired (2020)Divested (2019)
6
• 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
• $75 million of realized synergies anticipated in 2022
• Acquisition completed on July 1, 2020 for $1.45 billion.
OPS)
16
Sales Adjusted EBITDA
$818 $823
+ 1%
Adjusted EPS
+ 8% - 3%
(in millions) (in millions)
(+ 9% excluding FX) (+ 18% excluding FX) (+ 5% excluding FX)
Q3 EBITDA BRIDGE
(PRO FORMA TOTAL COMPANY)
17
Price increases more than
offset raw material and
supply chain impacts
$ millions
CAI:
Price / Mix 68
Inflation (44)
SEM:
Price / Mix 41
Inflation (26)
Net Price Benefit 39
Wage and Energy Inflation (14)
Clariant Color Integration Synergies 6
Incentives, Other Employee Costs 14
FX (11)
Q3 2022 $137
Adjusted
Q3 2021 $ 142
Demand (39)
Q3 2022 SEGMENT PERFORMANCE
18
CAI
$587
$566
Sales
$93 $93
SEM Pro Forma
$326 $319
Sales
$70
$62
(+ 4% excluding FX)
- 4% - 2%
(+ 5% excluding FX)
Flat
(+ 7% excluding FX)
- 11%
(- 7% excluding FX)
$500
$585
$2.60
$2.95
FULL YEAR 2022 GUIDANCE
19
Sales Adjusted EBITDA
$3,375
$3,635
Adjusted EPS
(in millions) (in millions)
20
SUMMARY
• Executed the plans we laid out earlier this year
• Completed the Dyneema acquisition and Distribution divestiture
amid challenging market conditions
• Paid down debt and expect to finish the year modestly levered at
3.1x net debt to 2022 pro forma adjusted EBITDA
• Expect $200 million of free cash flow in 2022
• Entering an economic slowdown with a portfolio that is better
positioned than ever before
• Updated our EPS guidance to $2.60 from continuing operations
SEGMENT DATA
U.S. & Canada
Latin America
2022 PRO FORMA SEGMENT, END MARKET AND GEOGRAPHY
GEOGRAPHY REVENUESEGMENT FINANCIALS
21%
Building and
END MARKET REVENUE
(1) Total company adjusted EBITDA of $585M includes corporate costs.
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/2023-03/AVNT Mar 2023 Earnings Presentation.pdf
Additionally, Adjusted EPS excludes the impact of special items and amortization expense
associated with intangible assets.2
AVIENT: WHO WE ARE
36
24
9
35
• U.S. and Canada
• Latin America
• Europe, Middle East & Africa
• Asia
25,000+
CUSTOMERS
Headquartered in Avon Lake, OH
(Cleveland)
100+ manufacturing plants
Key Financial Data
2023E Sales $3.45 billion
2023E EBITDA $530 million
2023E EPS $2.40
100%
ARE CUSTOMIZED SOLUTIONS
TO UNIQUE SPECIFICATIONS
of
sales
Guidance as of February 15, 2023 Webcast
WHO WE ARE – VISION, STRATEGY, CULTURE
Avient Corporation (NYSE: AVNT) provides
specialized and sustainable material solutions that
transform customer challenges into opportunities,
bringing new products to life for a better world.
$600 $592
$3.02 $3.04
FULL YEAR 2022 PERFORMANCE
(TOTAL COMPANY PRO FORMA)
19
Sales Adjusted EBITDA
$3,712 $3,653
-2%
Adjusted EPS
-1% + 1%
(in millions) (in millions)
(+4% excluding FX) (+5% excluding FX) (+9% excluding FX)
FULL YEAR 2022 SEGMENT PERFORMANCE
20
CAI
$2,402 $2,355
$409 $402
SEM Pro Forma
$1,308 $1,300
$278 $272
(+4% excluding FX)
- 2% -1%
(+5% excluding FX)
- 2%
(+4% excluding FX)
- 2%
(+2% excluding FX)
PRO FORMA FULL YEAR EPS BRIDGE
21
Pro Forma 2021 Adjusted EPS 3.02$
Foreign Currency (0.23)
Russia Import Sales (0.07)
Outdoor High Performance (0.13)
Color, Additives and Inks 0.18
Specialty Engineered Materials 0.24
Corporate Costs / Other 0.03
Pro Forma 2022 Adjusted EPS 3.04$
FULL YEAR EBITDA BRIDGE
(PRO FORMA TOTAL COMPANY)
22
$ millions
CAI:
Price / Mix 247
Inflation (176)
SEM:
Price / Mix 121
Inflation (77)
Net Price Benefit 115
Wage and Energy Inflation (47)
Clariant Color Integration Synergies 23
Incentives, Other Employee Costs 43
FX (34)
Full Year 2022 $592
Adjusted
Full Year 2021 $ 600
Demand (99)
Russia Import Sales (9) • Demand primarily impacted
by China lockdowns, 4th
quarter industrywide
destocking and declining
consumer sentiment
• Pricing outpaced inflation of
raw materials, wages and
energy
2023 G U IDA N CE
$125
$530
$0.55
$2.40
2023 GUIDANCE
24
Sales Adjusted EBITDA
$845
$3,450
Adjusted EPS
(in millions) (in millions)
CASH FLOW / BALANCE SHEET
25
• IT investment to further
integrate acquired
businesses and capture
operational efficiencies
• Restructuring actions to
streamline operations and
improve profitability, primarily
in Europe
($ millions) 2023E
Cash Flow from Operating Activities 350$
Less:
Run-Rate CapEx (110)
CapEx for IT System Upgrade (25)
CapEx for Restructuring (15)
Total CapEx (150)
Free Cash Flow 200$
Adjusted EBITDA 530$
Net Debt / Adjusted EBITDA 2.9x
K E Y G R O W T H D R I V E R S
A N D T R A N S F O R M E D
P O R T F O L I O
GROWTH DRIVERS: PROVEN SUCCESS
27 (1) Pro forma for the acquisition of Avient Protective Materials (APM)
COMPOSITES
$51
$84
$212
$668
HEALTHCARE
$108 $113
$231
$293
8-10%
ASIA/EMERGING REGIONS
$265
$358
$726
$830
$340
$455
$790
$1,175
SUSTAINABLE SOLUTIONS
8-12%
(1) (1)(1)
(Sales in $ millions)
#1 Color Formulator
Dyneema® - World’s Strongest
Fiber™
#1 in Composites applications
for outdoor high performance
#1 in Performance Inks
Customized solutions
140+ PhDs on staff
Rapid development of
innovative products
Extensive patent (2,500+)
portfolio
33% Vitality Index
Better-positioned toward stable,
high-growth end markets
Consumer, packaging,
healthcare and defense comprise
nearly 60% of sales
Agnostic to raw materials,
helping all customers achieve their
goals
Broad portfolio of diversified
sustainable solutions
90%+ of our innovation pipeline
invested in sustainable solutions
Long-term growth rate well
above GDP with expectations of
8-12%
LEVERAGING OUR TRANSFORMED PORTFOLIO
28
Building &
4% Telecom.
2022 PF
$3.65B
sales
Leading Positions Sustainable SolutionsDiversified IndustriesSpecialty Formulator
(1) 2022 Pro forma for the acquisition of Avient Protective Materials
(2) 2020 Pro forma for the acquisition of Clariant Color
(1)(2)
$340M
$455M
$790M
2016 2018 2020PF 2022PF
$1,175M
P EE R C O M PAR IS O N S
AVIENT IS ASSET LIGHT
Capex / Revenue
2023E (%)
Avient Specialty
Other Specialty /
Note: Avient reflects 2023 estimated revenue of $3,450 and estimated run-rate CAPEX of $110M.
30
2
4 4
5 5 5
6
7 7
FREE CASH FLOW CONVERSION
Note: Free cash flow conversion calculated as (Adjusted EBITDA – Capex) / Adjusted EBITDA.
Avient 2011 and 2018 valuations reflect trailing 12 months EBITDA at December 31 of the respective years.
32
EV / 2023E EBITDA
Historic Multiple
6.5
8.3
10.0
15.6
13.9 13.7
12.8
9.5
18.0 17.5
12.3
10.2 9.7
8.8 8.4
5.9
(2
01
1)
(2
01
8)
RA W M AT ER IA L
OVE RV IE W
34
RAW MATERIAL 2022 ANNUAL PURCHASES
Performance
Additives
16%
Pigments
TiO2
Dyestuffs
2%
Polyethylene
Nylon
Polypropylene
Styrenic Block
Copolymer
Other Raw
Materials
30%
~40% hydrocarbon based
(Grey shaded materials are hydrocarbon based,
includes portion of “Other Raw Materials”)
Non-hydrocarbon
based materials
Excludes Avient Protective Materials
SEGMENT DATA
U.S. & Canada
40%
37%
18%
Latin America
2022 PRO FORMA SEGMENT, END MARKET AND GEOGRAPHY
GEOGRAPHY REVENUESEGMENT FINANCIALS
Building and
END MARKET REVENUE
(1) Total company adjusted EBITDA of $592M includes corporate costs
$2,355M $402M
$1,300M $272M
Sales EBITDA
Specialty Engineered Materials
Color Additives and Inks
$592M$3,653M
36
C O L O R , A D D I T I V E S & I N K S
2022 REVENUE | $2 .4 B ILL ION
US & Canada
34%
38%
Latin America
END MARKET REGION
37
34%
21%
Building &
1% Energy
2%
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
52%
35%
REGION
38
19%
8%Industrial
16%
Building &
32%
27%
14%
Building &
3%
1% Defense
1%
(18% of sales)
2022 PROFORMA AVIENT REGIONAL SALES
BY END MARKET
27%
14%
17%
Building &
(37% of sales)Transportation
Building &
US &
Canada
(40% of sales)
7%
56%
23%
7%
Building &
1%
LATAM
(5% of sales)
3%
39
https://www.avient.com/sites/default/files/2023-03/Avient Annual Report 2022.pdf
In addition, we store sensitive data, including proprietary business information,
intellectual property and confidential employee or other personal data, on our servers and databases.
Amounts invested in our foreign
operations are translated into U.S. dollars at the exchange rates in effect at the balance sheet date.
FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
MANAGEMENT’S REPORT
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
Consolidated Statements of Income
Consolidated Statements of Comprehensive Income
Consolidated Balance Sheets
Consolidated Statements of Cash Flows
Consolidated Statements of Shareholders' Equity
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
ITEM 9.
https://www.avient.com/sites/default/files/resources/Polyone%2520AR.pdf
SELECTED FINANCIAL DATA
Refer to Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” in Part II
of this Annual Report on Form 10-K and the notes to our accompanying consolidated financial statements for additional
information regarding the financial data presented below, including matters that might cause this data not to be indicative
of our future financial condition, results of operations or cash flows.
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.
https://www.avient.com/sites/default/files/2022-04/Sustainable Material Answers_ Recycled PET 2022.pdf
SHEET
RAW MATERIAL
SUPPLIERS
PET BOTTLE
PET PREFORM
THERMOFORMERS BRAND
OWNERS
RETAILERS
CONSUMERS
LOCAL WASTE
MANAGEMENT
SORTING
COMPANIES
RECYCLING
COMPANIES
REGULATION
BODIES
NIAS
COMPLIANT
Why is PET
so Popular?
Sheet & Film—Sheets and films made
of PET are another major use case.
PET
sheets can be used to make a variety of
plastic products and film is often used
for tape backing, plastic wrap, medical
packaging, and protective coating on
windows.
https://www.avient.com/sites/default/files/2025-02/Hammerhead FR Flame Retardant Composite Panel for Building _ Construction Product Overview.pdf
Flame-retardant technology uniquely embedded
into the panel materials provides robust and
durable fire performance without the need for
additional sheets or coatings.
KEY BENEFITS
• Lightweight: Significantly lighter than
traditional materials such as wood, drywall,
and framed wall assemblies, offering a
lightweight yet durable solution for easier
transport and installation, while maintaining
structural integrity
• Durability: Resistant to rot, moisture,
chemicals, UV, and corrosion, ensuring long-
lasting performance
• Efficiency: Consolidated structural panel
reduces labor and assembly time, maintaining
structural integrity throughout the installation
process
• Versatility: Can replace gypsum and drywall
in wall construction, offering strong adhesive
bonding properties and paintable surfaces
• Material Consolidation: Integrates flame
retardant properties and eliminates the
need for additional sheets or coatings for
fireproofing, simplifying the building process
• Highly Customizable: Avient offers a wide
range of custom size configurations and panel
options, allowing builders to meet specific
project needs
• Sustainability: FR technology is not
halogenated or phosphorus-based, and is made
with benign ingredients at low concentrations,
making it an environmentally friendly option
Hammerhead™ FR Flame Retardant Composite Panels
PRODUCT OVERVIEW
APPLICATIONS
• Modular Construction Structures: Ideal for rapid
assembly, reducing construction time and costs
• Walls: A durable and lightweight alternative to
traditional wall materials, suitable for both interior
and exterior applications
• Flooring: Provides a strong and stable base for
various flooring systems, withstanding heavy loads
and traffic
• Garage and Industrial Doors: Offers excellent
strength-to-weight ratio and resistance to impact
and weather, making it an excellent choice for
demanding environments
1.844.4AVIENT
www.avient.com
Copyright © 2025, Avient Corporation.