PolyOne Corporation (NYSE: POL), with 2019 revenues of $2.9 billion, is a premier provider of specialized polymer materials, services and solutions. The company adds value to global customers and improves sustainability through formulating materials, such as:

The Fiber-Line portfolio includes custom-formulated composite yarns for high-performance consumer applications, water-blocking yarns, reinforced polymer fibers, strength members for ropes and cord structures, reinforcement yarns, industrial yarns, and wire harness yarns for applications in industrial, oil and gas, and fiber optic markets.  

GlasArmor panels made with fiber-reinforced polymer (FRP) composites provide excellent ballistic stopping power for the MPS while meeting the requirement of being lightweight and portable. The MPS incorporates Avient’s custom-formulated GlasArmor ballistic panels that meet Level 3 protection under Underwriters Laboratories (UL) 752 standards for ballistic resistance.

GlasArmor panels made with fiber-reinforced polymer (FRP) composites provide excellent ballistic stopping power for the MPS while meeting the requirement of being lightweight and portable. The MPS incorporates Avient’s custom-formulated GlasArmor ballistic panels that meet Level 3 protection under Underwriters Laboratories (UL) 752 standards for ballistic resistance.

Ballistic-resistant panels made with fiber-reinforced polymer (FRP) composites offer key properties enabling Southern States to meet its customers’ critical needs. Southern States’ ballistic-resistant solutions incorporate three layers of uniquely formulated GlasArmor composite panels to achieve Underwriters Laboratories (UL) Level 8 protection.

The tripod designers consulted with the advanced composite product experts at Avient, and trialed several formulations of Polystrand™ continuous fiber-reinforced thermoplastic composites. The thermoplastic polymer base resin used also enables recyclability to support the company’s sustainability goals.

Avient Specialty Other Specialty / 2023E(%) 28 79 87 81 79 76 73 90 77 76 75 73 64 59 33 MULTIPLE EXPANSION Avient Specialty Other Specialty / Note: Avient reflects 2023 adjusted EBITDA guidance of $530M and closing share price of $38.89. Further, as a result of Avient's portfolio shift to a pure play specialty formulator, it has completed several acquisitions and divestitures which have resulted in a significant amount of intangible asset amortization. Free Cash Flow Calculation 2014 2015 2016 2017 2018 2019 2020 2021 2022 Cash provided by operating activities 208.4 227.2 221.3 202.4 253.7 300.8 221.6 233.8 398.4 Capital expenditures (92.8) (91.2) (84.2) (79.6) (76.0) (81.7) (63.7) (100.6) (105.5) Payment of post-acquisition date earnout liability — — — — — — 38.1 — — Taxes paid on gain on divestiture — — — — — — — 142.0 — — Adjusted Free Cash Flow $ 115.6 $ 136.0 $ — $ 137.1 $ 122.8 $ 177.7 $ 219.1 $ 338.0 $ 133.2 $ 292.9 Three Months Ended Year Ended 2022 2021 2022 2021 Sales: Color, Additives and Inks $ 490.8 $ 581.3 $ 2,355.0 $ 2,401.6 Specialty Engineered Materials 300.8 226.3 1,044.4 911.6 Corporate (1.2) (0.5) (2.5) 2.3 Sales $ 790.4 $ 807.1 $ 3,396.9 $ 3,315.5 Operating income: Color, Additives and Inks $ 44.3 $ 61.2 $ 301.0 $ 303.1 Specialty Engineered Materials 35.2 27.1 140.1 125.5 Corporate (79.1) (38.1) (197.8) (148.9) Operating income $ 0.4 $ 50.2 $ 243.3 $ 279.7 Other expense, net: $ (28.4) $ (5.3) $ (59.7) $ (1.0) Depreciation & amortization: Color, Additives and Inks $ 25.2 $ 26.5 $ 101.3 $ 105.7 Specialty Engineered Materials 20.3 7.9 48.7 31.7 Corporate 3.2 3.6 12.5 7.7 Depreciation & Amortization $ 48.7 $ 38.0 $ 162.5 $ 145.1 Earnings before interest, taxes, depreciation and amortization (EBITDA): Color, Additives and Inks $ 69.5 $ 87.7 $ 402.3 $ 408.8 Specialty Engineered Materials 55.5 35.0 188.8 157.2 Corporate (76.0) (34.5) (185.3) (141.2) Other expense, net $ (28.4) $ (5.3) $ (59.7) $ (1.0) EBITDA $ 20.6 $ 82.9 $ 346.1 $ 423.8 Special items in EBITDA 86.8 18.9 162.5 55.4 EBITDA - excluding special items $ 107.4 $ 101.8 $ 508.6 $ 479.2 APM pro forma adjustments - 2021 — 30.4 — 120.5 APM pro forma adjustments - 8 months 2022* — — 83.1 — Pro forma EBITDA $ 107.4 $ 132.2 $ 591.7 $ 599.7 Year Ended December 31, Reconciliation of Pro Forma Sales and EBITDA - SEM 2022 2021 Specialty Engineered Materials $ 1,044.4 $ 911.6 APM pro forma adjustments - 2021 — 396.5 APM pro forma adjustments - 8 months 2022* 256.1 — Pro forma sales $ 1,300.5 $ 1,308.1 Specialty Engineered Materials $ 188.8 $ 157.2 APM pro forma adjustments - 2021 — 120.5 APM pro forma adjustments - 8 months 2022* 83.1 — Pro forma EBITDA $ 272.0 $ 277.8 Year Ended December 31, Reconciliation of Pro Forma Sales - Avient 2022 2021 Sales $ 3,396.9 $ 3,315.5 APM pro forma adjustments - 2021 — 396.5 APM pro forma adjustments - 8 months 2022* 256.1 — Pro forma sales $ 3,653.0 $ 3,712.0 5 AVNT Q4 2022 Earnings Presentation 2.17.pdf AVNT Q4 2022 Earnings Presentation.pdf IR Recs - 2.14 454pm

Yet no single year in our company’s history did such a monumental specialty portfolio transformation take place than in 2019. We have eight primary ways we do this, by combining our material science expertise with the inherent sustainable benefits of polymers. It’s been an extraordinary journey in specialty transformation.

Vibrant colors in transparent and opaque options help set this line of high-temperature and high-performance formulations apart from other options. Low minimum order quantities offer specialty healthcare customers greater processing flexibility and inventory efficiencies.  

Additionally, Adjusted EPS excludes the impact of special items and amortization expense associated with intangible assets. 3 AVIENT OVERVIEW OUR VISION: Creating specialized and sustainable materials solutions that transform customer challenges into opportunities, bringing new products to life for a better world 2023 Financial ResultsCompany Overview Revenue By: 9,300 Employees 102 Manufacturing Sites 20,000+ Customers Key Highlights  Premier formulator of specialized and sustainable materials solutions  Asset-light business model, with flexibility to adapt to customer needs  Best-in-class technology and service (140+ PhDs / 2,500+ patents)  History of transformation through successful M&A while consistently returning cash to shareholders  Poised for continued future growth in excess of GDP $3.14B Revenue $2.36 $502M Adjusted EBITDA 16.0% Adjusted EBITDA Margins $186M Adjusted Free Cash Flow Over $1B in share buybacks since 2011 Raised dividend for 13 consecutive years, a 15% CAGR since 2011 U.S. & Canada 64% Specialty Engineered Materials Color Additives and Inks 23% 10% 5% 4% Building & Energy Telecom Geography Segment Industry 4 CREATING A WORLD-CLASS SUSTAINABLE ORGANIZATION 1. 6% annualized long term sales growth leveraging sustainable solutions, composites, healthcare and emerging regions 2. ASHISH KHANDPUR PRESIDENT & CEO 7 8 PORTFOLIO TRANSFORMATION 8 46% 66% 87% 100% 0% 20% 40% 60% 80% 100% 2005 2010 2015 2020 2023 % o f A dj us te d EB IT D A Commodity JVs Distribution Performance Products & Solutions Specialty Businesses Adjusted EBITDA from Specialty Applications SUSTAINABILITY AS A GROWTH DRIVER 9 LONG-TERM REVENUE GROWTH DRIVERS Sustainable Solutions Composites, Healthcare, Asia / LATAM Overlap Other 60%+ Key Growth Drivers Total Company Revenue Growth Drivers Long-Term Growth Rate Sustainable Solutions 8–12% Composites 8–10% Healthcare 8–10% Asia / LATAM 5% Other 0–2% Avient 6% END MARKET OBSERVATIONS (% OF COMPANY SALES) ENERGY DEFENSE TELECOMMUNICATIONS HEALTHCARE 10 TRANSPORTATION INDUSTRIAL BUILDING & CONSTRUCTION 9% CONSUMER PACKAGING 23% 11 REGIONAL OBSERVATIONS (% OF COMPANY SALES) 11 Q 4 2023 RE S U LT S Q4 2023 PERFORMANCE VS. Further, as a result of Avient's portfolio shift to a pure play specialty formulator, it has completed several acquisitions and divestitures which have resulted in a significant amount of intangible asset amortization.