https://www.avient.com/sites/default/files/2024-05/4b - Governance and Corporate Responsibility Committee Charter.Feb_. 2024.v1.1.Final_.pdf
Each Committee member will serve at the pleasure of the Board for such term as the
Board may decide.
The Committee will have the sole authority to retain and terminate any search firm to
assist in the identification of director candidates and the sole authority to approve the fees
and other retention terms of such search firms
https://www.avient.com/sites/default/files/2023-03/AvientRY 2021 CDP Verification Opinion Declaration_07-26-22r%5B96%5D.pdf
Miami, Florida Santa Ana, California
July 26, 2022
This verification opinion declaration, including the opinion expressed herein, is provided to Avient and is solely for the benefit of
Avient in accordance with the terms of our agreement.
We consent to the release of this declaration by you to CDP in order to
satisfy the terms of CDP disclosure requirements but without accepting or assuming any responsibility or liability on our part to CDP
or to any other party who may have access to this declaration.
https://www.avient.com/sites/default/files/2020-10/tpes-for-automotive-fasteners-clips-product-bulletin-1.pdf
GLS™ TPE
AUTOMOTIVE SOLUTIONS
ENABLE LONG-TERM
PERFORMANCE
WITH TPEs FOR
FASTENERS AND CLIPS
The average length of vehicle ownership is on the rise, placing greater demands on all elastomeric materials
to maintain long-term sealing performance in fasteners and clips.
https://www.avient.com/sites/default/files/Avient Climate Change Scenario Analysis Summary 2022.pdf
VOC reducing materials that address
vehicle air quality standards)
Impact Legend Time horizon Legend
Low impact S - short-term 0-5 years
Moderate impact M - medium-term 5-15 years
High impact L - long-term 15-30 years
BUSINESS IMPLICATIONS AND STRATEGIC RESPONSES
BUSINESS IMPLICATIONS AND STRATEGIC RESPONSES
IMPACT DRIVER &
TIME HORIZON
Policy & Legal Risk
M L
Technology Risk
S M
Market Risk
S M
Reputation Risk
L
Acute & Chronic Risk
L
IMPACT DRIVER &
TIME HORIZON
Resource
Efficiency
Opportunity
S M L
Energy Source
Opportunity
M L
Products &
Services and
Markets Opportunities
S M L
· We have embedded an energy intensity KPI (covering process and builidng efficiencies) into the incentive structure for all employees
https://www.avient.com/sites/default/files/2024-05/3b - Corporate Governance Guidelines.Draft Feb. 2024.v1.2.Revised.4-16-24.Final_.pdf
The Board may at any time in its sole discretion supplement or amend any provision of
this policy in any respect, repeal the policy in whole or part or adopt a new policy relating
to director elections with such terms as the Board determines in its sole discretion to be
appropriate.
Oversight of Risk Management
The Board oversees a Company-wide approach to risk management that is designed to
8
support the achievement of the Company’s strategic objectives and improve long-term
organizational performance.
Board Meetings
Annual Performance Evaluation
Evaluation of Chief Executive Officer
Succession Planning and Management Development
Committees
Oversight of Risk Management
The Board oversees a Company-wide approach to risk management that is designed to support the achievement of the Company’s strategic objectives and improve long-term organizational performance.
https://www.avient.com/sites/default/files/2025-02/Hammerhead FR Panel eBook.pdf
Take time to see the long-term value,
not just the sticker price.
Consistent pricing: Raw materials for the FR composite panel (core,
laminate, FR components, etc.) are readily available and are rather stable
in terms of price.
Fewer materials to handle, less time spent on-site, and
long-term savings that go straight to the bottom line
https://www.avient.com/sites/default/files/2021-04/avient-q4-earnings-and-2021-outlook-website.pdf
They use words such as “will,” “anticipate,” “estimate,” “expect,” “project,”
“intend,” “plan,” “believe,” and other words and terms of similar meaning in connection with any discussion of future operating or financial performance and/or sales.
Whether it’s an ambitious start-up bringing a new product to market, or a large, multi-
national OEM looking for consistency and reliability of global supply, Avient is built for
long-term partnerships.
In addition, operating
income before the effect of special items is a component of Avient’s annual and long-term employee incentive plans and is used
in debt covenant computations.
https://www.avient.com/sites/default/files/2021-06/avient-ir-presentation-may-2021-w-non-gaap-recs.pdf
Whether it’s an ambitious start-up bringing a new product to market, or a large, multi-
national OEM looking for consistency and reliability of global supply, Avient is built for
long-term partnerships.
Investing in Innovation — Specialty companies invest to grow, so we ensure our
resources are concentrated on material science for high-growth end markets, poised for
value creation in the long term.
Published 2030 performance goals, further enhancing our position as
a responsible business creating sustainable, long-term value for its
stakeholders
https://www.avient.com/sites/default/files/2021-04/avnt-fourth-quarter-2020-news-release.pdf
They use words such as “will,” “anticipate,” “estimate,” “expect,”
“project,” “intend,” “plan,” “believe,” and other words and terms of similar meaning in connection
with any discussion of future operating or financial condition, performance and/or sales.
2) Tax adjustments include the net tax benefit/(expense) from one-time income tax items, adjustments to uncertain tax position reserves and
deferred income tax valuation allowances.
8
Attachment 4
Avient Corporation
Condensed Consolidated Balance Sheets (Unaudited)
(In millions)
Year Ended
December 31,
2020 2019
ASSETS
Current assets:
Cash and cash equivalents $ 649.5 $ 864.7
Accounts receivable, net 516.6 330.0
Inventories, net 327.5 260.9
Other current assets 89.9 57.7
Total current assets 1,583.5 1,513.3
Property, net 694.9 407.4
Goodwill 1,308.1 685.7
Intangible assets, net 1,008.5 469.3
Operating lease assets, net 80.9 63.8
Other non-current assets 195.4 133.8
Total assets $ 4,871.3 $ 3,273.3
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Short-term and current portion of long-term debt $ 18.6 $ 18.4
Accounts payable 471.7 287.7
Current operating lease obligations 25.1 21.0
Accrued expenses and other current liabilities 289.2 375.4
Total current liabilities 804.6 702.5
Non-current liabilities:
Long-term debt 1,854.0 1,210.9
Pension and other post-retirement benefits 115.0 56.6
Deferred income taxes 150.7 63.5
Non-current operating lease obligations 56.0 42.8
Other non-current liabilities 192.8 144.3
Total non-current liabilities 2,368.5 1,518.1
SHAREHOLDERS' EQUITY
Avient shareholders’ equity 1,683.6 1,051.9
Noncontrolling interest 14.6 0.8
Total equity 1,698.2 1,052.7
Total liabilities and equity $ 4,871.3 $ 3,273.3
9
Attachment 5
Avient Corporation
Condensed Consolidated Statements of Cash Flows (Unaudited)
(In millions)
Year Ended
December 31,
2020 2019
Operating activities
Net income $ 133.4 $ 588.8
Adjustments to reconcile net income to net cash provided by operating activities:
Gain on sale of business, net of tax — (457.7)
Depreciation and amortization 111.8 87.5
Accelerated depreciation and fixed asset charges associated with restructuring activities 3.2 —
Deferred income tax benefit (1.1) (3.2)
Share-based compensation expense 11.3 11.6
Changes in assets and liabilities, net of the effect of acquisitions:
(Increase) decrease in accounts receivable (4.6) 29.7
Decrease in inventories 40.2 40.2
Increase (decrease) in accounts payable 79.5 (22.7)
Increase (decrease) in pension and other post-retirement benefits 30.7 (19.7)
Increase in post-acquisition earnout liabilities 1.0 36.4
(Decrease) increase in accrued expenses and other assets and liabilities - net (3.7) 9.9
Taxes paid on gain on sale of business (142.0) —
Payment of post-acquisition date earnout liability (38.1) —
Net cash provided by operating activities 221.6 300.8
Investing activities
Capital expenditures (63.7) (81.7)
Business acquisitions, net of cash acquired (1,380.2) (119.6)
Net proceeds from divestiture 7.1 761.8
Net proceeds from other assets 5.2 51.4
Net cash (used) provided by investing activities (1,431.6) 611.9
Financing activities
Debt offering proceeds 650.0 —
Borrowings under credit facilities — 963.4
Repayments under credit facilities — (1,083.9)
Purchase of common shares for treasury (22.4) (26.9)
Cash dividends paid (71.3) (60.3)
Repayment of other debt — (1.8)
Repayment of long-term debt (7.8) (6.5)
Payments on withholding tax on share awards (2.3) (2.1)
Debt financing costs (9.5) (0.2)
Equity offering proceeds, net of underwriting discount and issuance costs 496.1 —
Payment of acquisition date earnout liability (50.8) —
Net cash provided (used) by financing activities 982.0 (218.3)
Effect of exchange rate changes on cash 12.8 (0.6)
(Decrease) increase in cash and cash equivalents (215.2) 693.8
Cash and cash equivalents at beginning of year 864.7 170.9
Cash and cash equivalents at end of year $ 649.5 $ 864.7
10
Attachment 6
Avient Corporation
Business Segment Operations (Unaudited)
(In millions)
Operating income at the segment level does not include: special items as defined in Attachment 3; corporate general and
administration costs that are not allocated to segments; intersegment sales and profit eliminations; share-based compensation
costs; and certain other items that are not included in the measure of segment profit and loss that is reported to and reviewed
by the chief operating decision maker.
In addition, operating income before the effect of
special items is a component of Avient annual and long-term employee incentive plans and is used in debt covenant
computations.
https://www.avient.com/sites/default/files/2021-07/avnt-q2-2021-earnings-release.pdf
They use words such as “will,” “anticipate,” “estimate,” “expect,”
“project,” “intend,” “plan,” “believe,” and other words and terms of similar meaning in connection
with any discussion of future operating or financial condition, performance and/or sales.
2) Tax adjustments include the net tax benefit/(expense) from one-time income tax items, the set-up or reversal of uncertain tax position
reserves and deferred income tax valuation allowance adjustments.
9
Attachment 4
Avient Corporation
Condensed Consolidated Balance Sheets
(In millions)
(Unaudited)
June 30, 2021
December 31,
2020
ASSETS
Current assets:
Cash and cash equivalents $ 616.2 $ 649.5
Accounts receivable, net 705.2 516.6
Inventories, net 412.5 327.5
Other current assets 124.2 108.5
Total current assets 1,858.1 1,602.1
Property, net 680.1 694.9
Goodwill 1,281.7 1,308.1
Intangible assets, net 944.9 1,008.5
Operating lease assets, net 87.3 80.9
Other non-current assets 195.3 176.0
Total assets $ 5,047.4 $ 4,870.5
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Short-term and current portion of long-term debt $ 18.8 $ 18.6
Accounts payable 574.6 471.7
Current operating lease obligations 24.9 25.1
Accrued expenses and other current liabilities 316.0 285.6
Total current liabilities 934.3 801.0
Non-current liabilities:
Long-term debt 1,852.2 1,854.0
Pension and other post-retirement benefits 112.6 115.0
Non-current operating lease obligations 62.8 56.0
Other non-current liabilities 299.1 332.8
Total non-current liabilities 2,326.7 2,357.8
SHAREHOLDERS' EQUITY
Avient shareholders’ equity 1,768.2 1,697.1
Noncontrolling interest 18.2 14.6
Total equity 1,786.4 1,711.7
Total liabilities and equity $ 5,047.4 $ 4,870.5
10
Attachment 5
Avient Corporation
Condensed Consolidated Statements of Cash Flows (Unaudited)
(In millions)
Six Months Ended
June 30,
2021 2020
Operating Activities
Net income $ 149.1 $ 56.0
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization 69.5 40.8
Accelerated depreciation and amortization 1.4 —
Share-based compensation expense 5.6 5.7
Changes in assets and liabilities, net of the effect of acquisitions:
(Increase) decrease in accounts receivable (196.1) 16.8
(Increase) decrease in inventories (88.1) 17.4
Increase (decrease) in accounts payable 108.4 (23.5)
Decrease in pension and other post-retirement benefits (9.2) (12.7)
Increase (decrease) in accrued expenses and other assets and liabilities, net 27.5 (3.5)
Payment of post-acquisition date earnout liability — (21.0)
Net cash provided by operating activities 68.1 76.0
Investing activities
Capital expenditures (42.1) (21.3)
Net proceeds from divestiture — 7.1
Net cash proceeds provided by other assets (2.0) 5.2
Net cash used by investing activities (44.1) (9.0)
Financing activities
Debt offering proceeds — 650.0
Purchase of common shares for treasury (4.2) (13.6)
Cash dividends paid (38.8) (34.3)
Repayment of long-term debt (4.4) (4.2)
Payments of withholding tax on share awards (4.2) (1.6)
Debt financing costs — (9.7)
Equity offering proceeds, net of underwriting discount and issuance costs — 496.1
Payment of acquisition date earnout liability — (32.9)
Net cash (used) provided by financing activities (51.6) 1,049.8
Effect of exchange rate changes on cash (5.7) (4.5)
(Decrease) increase in cash and cash equivalents (33.3) 1,112.3
Cash and cash equivalents at beginning of year 649.5 864.7
Cash and cash equivalents at end of period $ 616.2 $ 1,977.0
11
Attachment 6
Avient Corporation
Business Segment Operations (Unaudited)
(In millions)
Operating income and earnings before interest, taxes, depreciation and amortization (EBITDA) at the segment level does not
include: special items as defined in Attachment 3; corporate general and administration costs that are not allocated to
segments; intersegment sales and profit eliminations; share-based compensation costs; and certain other items that are not
included in the measure of segment profit and loss that is reported to and reviewed by the chief operating decision maker.
In addition, operating income before the effect of
special items is a component of Avient annual and long-term employee incentive plans and is used in debt covenant
computations.