https://www.avient.com/sites/default/files/2022-04/Avient Acquisition of Dyneema and Q1 2022 Results_0.pdf
Outdoor High Performance) 8 18% 3
Growth in Asia / LATAM 6 3% 2
Other 100 19% 5
Sub-total $1,327 14% $146
Outdoor High Performance Impact (5) (3)
Wage Inflation and Overtime (11)
Other Supply Chain Costs (4)
Synergies 5
Incentives, Other Employee Costs 8
FX (28) (5)
Q1 2022 $1,294 11% $136
Q1 2022 SALES AND OPERATING INCOME
( T O TA L C O M PA N Y )
6
Sales Growth Rate
Adjusted
Operating
Income$ millions
Adjusted
EBITDA
Q1 EBITDA BRIDGE
7
Price increases more than
offset raw material and
supply chain impacts
Q1 2021 $ 161
Demand (23)
$ millions
CAI:
Price / Mix 77
Inflation (54)
SEM:
Price / Mix 41
Inflation (26)
Distribution:
Price / Mix 84
Inflation (82)
Net Price Benefit 40
Wage Inflation and Overtime (11)
Other Supply Chain Costs (4)
Synergies 5
Incentives, Other Employee Costs 8
FX (5)
Q1 2022 $ 171
China Lockdowns / Russia Impact $ (7)
Transportation (7)
Outdoor High Performance (3)
Q1 EPS BRIDGE
8
Q1 2021 - Adjusted EPS 0.89$
CAI 0.08
Specialty Engineered Materials 0.06
Distribution 0.00
Corporate Costs 0.02
F/X (0.04)
Segment OI 0.12
Tax Rate (0.02)
Q1 2022 - Adjusted EPS 0.99$
10
15x stronger than steel
Reduces weight by 30% vs. other solutions
Well-maintained global asset base poised to serve growing demand
• Purchase price of $1.48B represents 11.4x multiple of
2022 EBITDA
• Acquisition will expand Avient’s composites and fiber
portfolio with Dyneema®, the World’s Strongest Fiber™
• $415M sales and 30%+ EBITDA margins; Immediately
accretive to pro forma 2022 EPS, adding $0.35
• 1,300 patents globally, ~50% of sales patent protected
• 1,000+ employees across global production network and
dedicated technology centers
• Composites platform will increase from $261M to $680M in
revenue and from $49M to $180M in EBITDA Indicates Dyneema
® location
$175M
(42%)
$65M
(16%)
$175M
(42%)
2022E Sales By Region ($M)
(1) $0.35 EPS excludes intangible amortization
(2) Based on 2022 expected results
(1) (2)
(2)
F I T W I T H F O U R P I L L A R S T R AT E G Y
11
Specialization
• Innovation-led organization with
tremendous intellectual property value in
trademarks, patents and “know-how”
• Deep history of application development
and premium, leading brand with the
World’s Strongest FiberTM
Globalization
• Global customer base with an
established presence across all major
geographic regions
• Global technology centers complement
existing Composites applications and
expertise
Operational
Excellence
• Best-in-class safety performance
• Well-run and maintained asset base fit to
serve future growth
• Highly effective and reliable supply chain
with emphasis on optimizing service to
customers
Commercial
Excellence
• Deep customer relationships extend
across the value chain and drive ability
to grow
• Offer a full suite of services with an active
role in design, development and
commercialization
People
Experienced and
talented associates
with a passion for
safety, specialization
and winning
DY N E E M A ® OV E RV I E W
K E Y I N D U S T R I E S
PERSONAL PROTECTION
Military • Law Enforcement • First
Responders Body Armor • Helmets •
Vehicle Protection
$215M
MARINE & SUSTAINABLE
INFRASTRUCTURE
Towing / Mooring • Aquaculture •
Floating Wind • Offshore Cranes
$130M
CONSUMER
Consumer • Outdoor High Performance •
Safety Equipment
$70M
12 Figures reflect 2022 expected sales
MIFOverview Competition
Value chain &
Go-to-market
Strategy Innovation Financials
TECHNOLOGY
13
1,200 1,300
2,500
Avient Dyneema Combined
Patents
• True specialty business – the World’s Strongest Fiber™
• Deep history of application development with customers,
strongest in the industry
• The only UHMwPE (ultra-high molecular weight polyethylene)
fiber producer that is backward integrated
o Provides innovation advantage through control of all steps of the process
• Complementary with our existing reinforced film expertise
(PolyStrand) and engineered fiber presences (Fiber-Line)
WINNING PROPERTIES
Ultra high strength vs. weight Highly flexible
Floats on water Chemically inert; no smell/taste and non-toxic
High resistance to UV radiation Self-lubricating, with low friction
One-of-a-kind technology
®
FORMULATION PROCESS
14
• Like Avient, Dyneema® offers similar
core competencies around formulation
and material science
• Technology that combines polymers and
fibers to provide specialized, high
performing solutions for customers
• Design capabilities ensure that
applications are highly customized for
the specified end use
DYNEEMA ® IN THE VALUE CHAIN
15
UHMwPE
Fiber / Tapes
Military Personnel,
Law Enforcement
Heavy Marine,
Offshore Wind Energy
and Mooring,
Aquaculture
Outdoor,
Footwear, Apparel,
Inflatables
• Material Science
• Formulation
• Service
INTERMEDIATE MANUFACTURING
(CUSTOMERS) OEM / APPLICATION
DEMAND TRENDS
16
• Military spending and near-term demand for higher performing personal protection
products (like Dyneema®) expected to increase
o European NATO members annual defense spend expected to increase by up to 20%(1)
o Accelerated launch of next generation technology in North America
• Policy-driven demand for sustainable energy; growth in floating offshore wind
farms which require advanced, durable technology
o Offshore wind expected to grow at a CAGR of 32% with the level of annual installations
quadrupling over the next five years(2)
• Continued investment in aquaculture as a sustainable food source(3)
• Strong demand in outdoor high performance space across niche consumer
applications aligns with 10% growth assumption for Avient’s Composites portfolio
Sources:
(1) “Funding NATO”, NATO.int (April 1, 2022)
(2) “Global Wind Report 2021”, Global Wind Energy Council
(3) “Aquaculture Supports a Sustainable Earth”, NOAA Fisheries
17
A L I G N M E N T W I T H
S U S T A I N A B I L I T Y G O A L S
P RO D U C T S
AVIE NT ’S E XIS T ING COM P OS IT E S P ORT F OL IO
D I V E R S E C A P A B I L I T I E S A N D S O L U T I O N S S E R V I N G
M A N U F A C T U R E R S A N D O E M S
LFT Tapes Laminates/Panels Shapes Pultrusion Engineered Fibers
18
AV I E N T ’ S C O M P O S I T E S P O RT F O L I O
S A L E S A N D E B I T DA
19
$74 $84
$216 $212
$261
$5 $10
$32
$41
$49
$180
0
50
100
150
200
$-
$50
$100
$150
$200
$250
$300
$350
$400
$450
$500
$550
$600
$650
$700
$750
2017 2018 2019 2020 2021 2022E
$680
($ in millions)
• Dyneema® acquisition will further
improve Composites EBITDA margins
to 26%
• Dyneema® will complement our
existing portfolio with deep formulation
expertise, innovative culture and
global commercial presence
• Composites will continue to be a key
growth driver to deliver future revenue
growth in excess of GDP
(1) Pro forma for the acquisition of Dyneema®
(1)
D I S T R I BU T I O N D I V E S T I T U R E
C O N S I D E R AT I O N S
D I S T R I BU T I O N H I G H L I G H T S
21
$21
$57
$69
$94
$105
0
50
100
150
2006 2011 2016 2021 2022E
• Leading North American Distribution business with
longstanding blue-chip supplier and customer
relationships
• Commercial excellence and regulatory knowledge have
grown healthcare portfolio to over 25% of sales and
positioned business for long-term growth
• Highly specialized portfolio of engineered polymers along
with sustainable solution offerings
• Leading digital capabilities through Avient Now, allowing
enhanced visibility and 24/7 interface with customers
• 98% free cash flow conversion drives greater than 30%
after-tax return on invested capital (ROIC)
• Potential divestiture allows us to remain modestly
leveraged with net debt to adjusted EBITDA expected to
be 2.9x and positions us for further specialty growth in the
future
EBITDA (in $M)
DY N E E M A ® T R A N S AC T I O N OV E RV I E W
22
- $1.48B net purchase price
- Represents 11.4x expected 2022 EBITDA
- Committed financing in place
- Permanent financing to be combination of available cash on-hand, new
Senior Unsecured Notes, new Senior Secured Term Loan
- Potential proceeds from Distribution divestment could be used to pay down
near-term maturing debt
- Closing expected in second half of 2022, subject to regulatory
approvals and certain customary closing conditions
Transaction
Value
Financing
Closing
Conditions /
Timing
C A P I TA L S T RU C T U R E / L E V E R AG E
23
• Financing commitments secured from Morgan Stanley
and J.P.
https://www.avient.com/idea/packaging-jumps-shelf
GLS and Kautex Machines, a leader in extrusion blow-molding equipment, jointly developed a solution for co-extruding an ultra-thin outer layer of translucent, customized Dynalloy™ TPE onto recycled or virgin HDPE resin.
https://www.avient.com/sites/default/files/2023-06/Omnicolor Brochure.pdf
COLOR PVC PE/PP/PUR PS ABS ACETAL PBT NYLON PC/PES
OM5001 OC5UFB Sky Blue 200+ 260 260+ 280 200+ 280 280 280
OM5009 OC5SAD Powder Blue 200+ 280+ 260+ 280+ 200+ 300 280+ 300
OM5011 OC5UFD Mid Blue 200+ 280+ 260+ 280+ 200+ 300 280+ 300
OM5027 UC5UFF Royal Blue 200+ 240 220 NS NS NS NS NS
OM5034 OC5SAF Pale Blue 200+ 280+ 260+ 280+ 200+ 300 280+ 300
OM5065 OC5SAG Navy Blue 200+ 280+ 260+ 280+ 200+ 300 280+ 300
OM5179 OC5UFI Ultra Blue 200+ 280+ 260+ 280+ 200+ 300+ 280+ 300+
OM5485 OC5UFJ Pacific Blue 200+ 280+ 260+ 280+ 200+ 300 280+ 300
OM5982 OC5SAI Baby Blue 200+ 260+ 260+ 280+ 200+ 300 280+ 300
OM55094 OC4UFB Purple 200+ 260 240 240 200+ NS NS NS
OM55157 OC5UFS Ice Blue 200+ 280+ 260+ 280+ 200+ 300 280+ 300
OM55160 OC5SAH Midnight Blue # *200+ NS 260 260 NS 300 NS 300
OM55162 OC5UFM Cornflower Blue 200+ 280+ 260+ 280+ 200+ 300 280+ 300
OM55302 N/A African Violet 200+ 280 260 260 200+ 250+ NS NS
OM55484 N/A Mistral 200+ 280+ 260+ 280+ 200+ 265 280+ 300+
OM55497 N/A Lavender 200+ 280+ 260+ 280+ 200+ 265 280+ 300+
OM55500 N/A Bluebell 200+ 280+ 260+ 280+ 200+ 265 280+ 300+
OM55502 N/A Lilac 200+ 240 240 NS 200+ NS NS NS
OM6037 N/A Aqua 200+ 280+ 260+ 280+ 200+ 265 280+ 300+
OM6969 OC6UFL Alpine Green 200+ 280 260 260 200+ 280 NS 280
OM6985 OC6SAK Spearmint Green 200+ 280+ 260+ 280+ 200+ 300 280+ 300
OM6994 OC6UFN Leaf Green 200 240 220 NS NS NS NS NS
OM66070 OC6UFC Fern Green 200+ 280 260 260 200+ 280 NS 280
OM66072 OC6SAD Springtime 200+ 280 260 260 200+ 280 NS 280
OM66075 OC6SAE Racing Green 200+ 280 260 260 200+ 280+ NS 280+
OM66083 OC6SAF Fresh Green 200+ 280 260 260 200+ 280 NS 280
OM66087 OC6UFG Sage Green 200+ 280 260 260 200+ 280 NS 280
OM66088 OC5UFQ Marine Blue 200+ 280 260 260 200 280 NS 280
OM66099 OC6SAG Lime Green *200+ NS 260 250 NS 280+ NS 280+
OM66100 OC6SAH Olive Green 200+ 280+ 260+ 260+ 200+ 300+ 280+ 300+
OM66159 N/A Pod Green 200 240 220 NS NS NS NS NS
OM66161 N/A Ocean Green 200+ 280 260+ 260+ 200+ 265 280+ 300
OM66301 N/A Dewdrop 200+ 260+ 260+ NS 200+ NS NS 280+
OM66303 N/A Grass Green 200+ 260+ 260+ NS 200+ NS NS 280
OM66306 N/A Lettuce Green 200+ 260+ 260+ NS 200+ NS NS 280
OM66307 N/A Apple Green 200+ 260+ 260+ NS 200+ NS NS 280
OM7002 OC7SAE Light Grey 200+ 280+ 260+ 280+ 200+ 300+ 280+ 300+
OM7020 OC7UFD Dark Grey 200+ 280+ 260+ 280+ 200+ 300+ 280+ 300+
OM7021 OC7SAF Ash Grey 200+ 280+ 260+ 280+ 200+ 300+ 280+ 300+
OM7053 OC7UFF Mid Grey 200+ 280+ 260+ 280+ 200+ 300+ 280+ 300+
OM7378 OC7UFG Dove Grey 200+ 280+ 260+ 280+ 200+ 300+ 280+ 300+
OM7759 OC7UFJ Soft Grey 200+ 280+ 260+ 280+ 200+ 300+ 280+ 300+
OM7994 OC9SAG Graphite 200+ 280+ 260+ 280+ 200+ 300+ 280+ 300+
OM7996 OC7SAH Moonstone 200+ 280+ 260+ 280+ 200+ 300+ 280+ 300+
OM7999 OC7UFN Pebble ** 200+ 280+ 260+ 280+ 200+ 300+ 280+ 300+
OM77000 OC7SAG Cloud Grey 200+ 280+ 260+ 280+ 200+ 300+ 280+ 300+
OM77007 OC9SAE Mink ** 200+ 280+ 260+ 280+ 200+ 300+ 280+ 300+
OM77013 OC5SSA Dusk 200+ 280+ 260+ 280+ 200+ 265 280+ 300
OM77140 N/A Putty 200+ 280 260+ 260+ 200+ 265 280+ 280
+ Potential use at temperatures above those indicated
NS Not suitable for use in polymer indicated
# Contains dyestuff which will migrate from PE/PP and all other polyolefins
OMNICOLOR™
PROCESSING TEMPERATURES
RECOMMENDED MAXIMUM PROCESSING TEMPERATURES FOR OMNICOLOR IN SELECTED POLYMERS IN °C
UK
COLOR NO.
COLOR PVC PE/PP/PUR PS ABS ACETAL PBT NYLON PC/PES
OM55488TR N/A TR Amethyst # *200+ NS 260+ 260+ NS 265+ NS 300
OM89050TR N/A TR Brown NS NS 260+ 280+ NS 265 NS 300
OM0279HT N/A Diamond White 200+ 280+ 260+ 280+ 200+ 265 280+ 300+
OM0447HT N/A Cumulus 200+ 280+ 260+ 280+ 200+ 265 280+ 300+
OM1739HT N/A Melon Yellow # *200+ NS 260+ 260+ NS 265 300+ 300+
OM1740HT N/A Pineapple # *200+ NS NS 260+ NS 265 300+ 300+
OM1829HT N/A Hornet # *200+ NS NS 260+ NS 265 300+ 300+
OM2264HT N/A Fresh Orange # *200+ NS NS NS NS 265 300+ 300+
OM3930HT N/A Deep Red # *200+ NS 260+ 260+ NS 265 300+ 300+
OM3940HT N/A Sunset # *200+ NS NS NS NS 265 300+ 300+
OM4217HT N/A Claret # *200+ NS 260+ 260+ NS 265 300+ 300+
OM33049HT N/A Lava # *200+ NS NS NS NS 265 300 300
OM33050HT N/A Poinsettia # *200+ NS NS NS NS 265 300 300
OM66148HT N/A Mid Green 200+ 280+ 260+ 260+ 200+ 265 300+ 300+
OM66294HT N/A Forest Green # NS NS NS NS NS 265 280+ 300+
OM66295HT N/A Astro # *200+ NS 260+ 280+ NS 265 280+ 300+
OM77323HT N/A Dolphin 200+ 280+ 260+ 280+ 200+ 265 280+ 300+
OM77324HT N/A Slate 200+ 280+ 260+ 280+ 200+ 265 280+ 300+
OM0038 N/A Value White 200+ 260+ 260+ 280+ 200+ 265 280+ 300+
OM0246 N/A Stone Effect 200+ 260 280 280+ NS 265 280 300
OM0299 N/A Pearl 200+ 260+ 260+ 280+ 200+ 265 280 300
OM0589 N/A Metallic Sand 200+ 280 260+ 280+ 200+ 265 300 300
OM0590 N/A Autumn Gold 200+ 280 260+ 260 200+ 255 NS NS
OM0592 N/A Tropical Pearl 200+ 260 260 260 200+ 250 NS NS
OM0593 N/A Inca Gold 200+ 280 260+ 280+ 200+ 250 280 280
OM0797TR N/A Sparkle 200+ NS 280 280 200 265 280 300
OM1339 N/A Value Yellow 200+ 280 280 280+ 200+ 265 280 300
OM5972 N/A Value Blue 200+ 280+ 260+ 280+ 200+ 265 280+ 300+
OM9074 N/A Odyssey 200+ 280 260+ 280+ 200+ 265 300 300
OM33074 N/A Spanish Earth 200+ 280 260 260 200+ 250 NS NS
OM33075 N/A Sunset Pearl 200+ 280 260 260 200+ 250 NS NS
OM33100TR N/A Pink Sparkle NS NS 260 260 NS NS NS NS
OM33111 N/A Value Red 200+ 240 220+ NS 200+ NS NS NS
OM55559 N/A Soft Lilac 200+ 280 260 250 200+ 265 NS 280
OM55561 N/A Atlantic Pearl 200+ 280 260+ 280 200+ 265 280 280
OM55563 N/A Midnight Satin 200+ 280 260+ 280 200+ 265 200 280
OM55564 N/A Frost Bite 200+ 280 260 260 200+ 265 NS 280
OM55565 N/A Winter Wind 200+ 280 260+ 280+ 200+ 265 280 300
OM55566 N/A Mirage 200+ 280 260 260 200+ 265 NS 280
OM55567 N/A Purple Silk 200+ 260 250 250 200+ NS NS NS
OM55666TR N/A Blue Sparkle NS NS 260+ 260+ NS 265 NS 280
OM55700TR N/A Violet Sparkle NS NS 260 260 NS 265 NS 300
OM66302 N/A Bottle Green 200+ 280+ 260+ 280+ 200+ 265 NS 300+
OM66344 N/A Arctic Moss 200+ 280 260+ 280+ 200+ 265 280 300
OM66345 N/A Grape 200+ 280 260+ 270 200+ 260 NS 280
OM66380 N/A Value Green 200+ 280+ 260+ 280+ 200+ 265 280+ 300+
OM77450 N/A Value Grey **200+ 280+ 260+ 280+ 200+ 265 280+ 300+
NOTES
* Suitable for use in all PVC except plasticized PVC
** Suitable for use in all PVC except tin stabilized PVC
+ Potential use at temperatures above those indicated
NS Not suitable for use in polymer indicated
# Contains dyestuff which will migrate from PE/PP and all other polyolefins
OMNICOLOR™
COLOR CHART
White
UK OM0001 Stock
US OC0UFB
Sherbert Lemon
UK OM1753
US Not Available
Flame Red
UK OM3820 Stock
US OC3SAJ
Cerise
UK OM4219
US Not Available
Bright White
UK OM0005 Stock
US OC0UFC
Linen
UK OM1831
US Not Available
Lobster Red
UK OM3849 Stock
US OC3SAK
Sky Blue
UK OM5001 Stock
US OC5UFB
Polar White
UK OM0330 Stock
US OC0UFD
Buttermilk
UK OM1832
US Not Available
Tomato Red
UK OM3850 Stock
US OC3UFJ
Powder Blue
UK OM5009 Stock
US OC5SAD
Coconut
UK OM0332 Stock
US OC0SAD
Chick
UK OM1834
US Not Available
Fuchsia
UK OM3853
US OC3SAL
Mid Blue
UK OM5011 Stock
US OC5UFD
Magnolia
UK OM1275 Stock
US OC0UFF
Custard
UK OM1839
US Not Available
Admiral Red
UK OM3856
US OC3SAM
Royal Blue
UK OM5027 Stock
US OC5UFF
Vanilla
UK OM1293 Stock
US OC0SAE
Yolk
UK OM1845
US Not Available
Cardinal Red
UK OM3861 Stock
US OC3UFM
Pale Blue
UK OM5034 Stock
US OC5SAF
Sunflower Yellow
UK OM1625 Stock
US OC1SAE
Seville Orange
UK OM2239 Stock
US OC2UFB
Fire Engine Red
UK OM3864
US OC3SAN
Navy Blue
UK OM5065
US OC5SAG
Daffodil Yellow
UK OM1637 Stock
US OC1SAF
Mandarin Orange
UK OM2243
US OC2SAE
Rocket Red
UK OM3872 Stock
US OC3SAP
Ultra Blue
UK OM5179 Stock
US OC5UFI
Citrus
UK OM1690 Stock
US OC1UFD
Pumpkin
UK OM2250 Stock
US OC2SAF
Raspberry
UK OM3879
US OC3SAQ
Pacific Blue
UK OM5485 Stock
US OC5UFJ
Banana
UK OM1693 Stock
US OC1UFE
Nectarine
UK OM2252 Stock
US OC2SAG
Brilliant Red
UK OM3947 Stock
US Not Available
Baby Blue
UK OM5982
US OC5SAI
Jasmine
UK OM1696
US OC1SAG
Carrot
UK OM2291
US Not Available
Poppy Red
UK OM3951
US Not Available
Purple
UK OM55094 Stock
US OC4UFB
Canary Yellow
UK OM1700 Stock
US OC1UFG
Strawberry Red
UK OM3223 Stock
US OC3SAE
Valentine Red
UK OM3955
US Not Available
Ice Blue
UK OM55157
US OC5UFS
Marigold
UK OM1702
US OC1SAH
Rose Pink
UK OM3364
US OC3SAF
Bubblegum Pink
UK OM3958
US Not Available
Midnight Blue
UK OM55160
US OC5SAH
Ivory
UK OM1704 Stock
US OC8SAF
Flesh Pink
UK OM3513
US OC2SAH
Ruby
UK OM33053
US Not Available
Cornflower Blue
UK OM55162 Stock
US OC5UFM
Cream
UK OM1707
US OC8SAG
Cherry Red
UK OM3788
US OC3SAH
Burgundy
UK OM4043 Stock
US OC3SAR
Sol Yellow
UK OM1751 Stock
US Not Available
Pastel Pink
UK OM3801
US OC3SAI
Mulberry
UK OM4204 Stock
US OC4SAA
Due to printing or monitor variations,
color shown may vary from actual
color.