https://www.avient.com/investor-center/news/polyone-shareholders-approve-all-proposals-2017-annual-meeting
retired from the board after 19 years of exemplary service.
https://www.avient.com/company/sustainability/sustainability-report/reporting/tcfd
People—Management Approach EH&S Page 19
https://www.avient.com/sites/default/files/2023-03/AVNT Q2 2022 Earnings Presentation - Website Version.pdf
Global Compact &
fulfilled Communication of Progress (COP)
requirements
• New Sustainability Strategy overview page including
our 2022 AIP ESG metrics
• New ESG Performance page with ESG ratings,
awards, and certifications
• Increased disclosures on carbon emissions, including
disclosure of Climate Change Scenario Analysis
• Added new Product Stewardship and Chemical
Management policies
• Enhanced data reporting for Workforce
Demographics
• Improved social disclosures on human rights,
dependent care and special leave and strategic
training management
20 21 SUSTAI NA BILI TY REPORT
Launching integrated sustainability website in parallel with report
Aligned with leading reporting frameworks
9
ESG PER FORMANCE & A WAR DS
10
84th
ENVIRONMENTAL
SOCIAL
GOVERNANCE
2
1
3
(as of 6/30/22)
2 0 2 2 O U T L O O K
$429
$490
2021 2022E
$3.05
$3.50
2021 2022E
FY 2022 GUIDANCE
( T O TA L C O M PA N Y: C U R R E N T P O R T F O L I O )
12
Sales Adjusted Operating Income
$4,819
$5,100
2021 2022E
+ 6%
Adjusted EPS
+ 14% + 15%
(in millions) (in millions)
(+ 9% excluding FX) (+ 18% excluding FX) (+ 20% excluding FX)
13
CA SH FLOW / LEV ER AGE
($ millions) 2022E
Cash Flow from Operating Activities 400$
Less:
Run-Rate CapEx (90)
CapEx for Clariant Integration (10)
CapEx for IT System Upgrade (15)
Total CapEx (115)
Free Cash Flow 285$
Adjusted EBITDA 635$
Net Debt / Adjusted EBITDA 1.6x
14
DYNEEMA / DI STRIBUTION UPDATES
• Strong performance so far in 2022 in-line
with our modeling
• Acquisition to be finalized as early as
September 1, pending standard
regulatory process and closing conditions
• Encouraging interest thus far from
potential buyers for world-class business
with a strong track record
• Second round bids due in August
DISTRIBUTION
15
PRO F OR MA MODELI NG UPDATE
2022E
($M)
Revenue 5,100$ 415$ 5,515$ (1,635)$ 3,880$
Adjusted EBITDA 635 130 765 (109) 656
EBITDA % 12% 31% 14% 7% 17%
Adj.
D I S T R I B U T I O N )
18
END-MARKET F OCUS F OR
NEW I NNOVATION
Semiconductors Robotics Healthcare
Interconnected disruptive markets with massive innovation needs
19
APPENDIX
Performance
Additives
15%
Pigments
13%
TiO2
11%
Dyestuffs
3%Polyethylene
12%
Nylon
6%
Polypropylene
5%
Other Raw
Materials
30%
Styrenic Block
Copolymer
5%
~40% hydrocarbon based
(Grey shaded materials are hydrocarbon based,
includes portion of “Other Raw Materials”)
Non-hydrocarbon
based materials
22
• Significant raw material price inflation and
tight inventory continued in Q2 2022,
although at a slightly lesser rate compared
to the prior quarter
o For Q2 2022, the average cost of key
hydrocarbon based materials was up 15%,
roughly the same as the average cost of non-
hydrocarbon based materials
Annual Purchases
RAW MATERIAL AND SUPPLY CHAIN UPDATE
Based on 2021 purchases, excludes Distribution business
SEGMENT DATA
U.S. & Canada
50%
EMEA
25%
Asia
16%
Latin America
9%
2021 SEGMENT, END MARKET AND GEOGRAPHY
GEOGRAPHY REVENUESEGMENT FINANCIALS
Consumer
23%
Packaging
19%
Industrial
16%
Building and
Construction
10%
Telecommunications
4%
Energy
2%
END MARKET REVENUE
(1) Total company sales and adjusted EBITDA of $4,819M and $581M, respectively, include intercompany sales eliminations and corporate costs
$2,402M
$409M
$919M
$164M
$1,631M
$94M
Sales EBITDA
Distribution
Specialty Engineered Materials
Color Additives and Inks
$581M$4,819M
(1)
Transportation
11%
Healthcare
15%
24
Packaging
34%
Consumer
21%
Healthcare
8%
Industrial
16%
Building &
Construction
10%
Transportation
9%
Energy
1% Telecommunications
1%
C O L O R , A D D I T I V E S & I N K S
2 0 2 1 R E V E N U E | $ 2 . 4 B I L L I O N
US & Canada
32%
EMEA
40%
Asia
21%
Latin America
7%
END MARKET REGION
25
All charts reflect 2021 financials
S P E C I A L T Y E N G I N E E R E D M A T E R I A L S
Consumer
27%
Healthcare
10%
Packaging
7%
Telecommunications
16%
Transportation
11%
Industrial
11%
Building &
Construction
11%
Energy
7%
2 0 2 1 R E V E N U E | $ 9 1 9 M I L L I O N
END MARKET
US & Canada
55%
EMEA
25%
Asia
20%
REGION
26
All charts reflect 2021 financials
D I S T R I B U T I O N
Healthcare
26%
Consumer
23%
Packaging
5%
Industrial
20%
Transportation
16%
Building and
Construction
8%
Energy
1%
Telecommunications
1%
US & Canada
80%
Asia
3%
Latin
America
17%
END MARKET REGION
K E Y S U P P L I E R S
2 0 2 1 R E V E N U E | $ 1 . 6 B I L L I O N
27
All charts reflect 2021 financials
T O T A L C O M P A N Y R E G I O N A L S A L E S
B Y E N D M A R K E T
Packaging
30%
Consumer
26%Healthcare
13%
Industrial
14%
Building &
Construction
5%
Telecommunications
2% Energy
2%
Asia
(16% of sales)
Transportation
8%
Packaging
32%
Consumer
13%
Healthcare
5%
Industrial
17%
Building &
Construction
12%
Telecommunications
5%
Energy
4%
EMEA
(25% of sales)
Transportation
12%
28
Consumer
25%
Healthcare
19%
Packaging
10%
Industrial
17%
Building &
Construction
10%
Telecommunications
4%
Energy
2%
US &
Canada
(50% of sales)
Transportation
13%
Packaging
38%
Consumer
33%
Healthcare
8%
Industrial
10%
Building &
Construction
5%
Telecommunications
1%
LATAM
(9% of sales)
Transportation
5%
All charts reflect 2021 financials
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/2023-02/AVNT Q4 2022 Earnings Press Release-1.pdf
Factors that could cause actual results to differ materially from
those implied by these forward-looking statements include, but are not limited to: disruptions,
uncertainty or volatility in the credit markets that could adversely impact the availability of credit
already arranged and the availability and cost of credit in the future; the effect on foreign operations
of currency fluctuations, tariffs and other political, economic and regulatory risks; the current and
potential future impact of the COVID-19 pandemic on our business, results of operations, financial
position or cash flows including, without limitation, any supply chain and logistics issues; changes in
laws and regulations regarding plastics in jurisdictions where we conduct business; fluctuations in
raw material prices, quality and supply, and in energy prices and supply; production outages or
material costs associated with scheduled or unscheduled maintenance programs; unanticipated
developments that could occur with respect to contingencies such as litigation and environmental
matters; our ability to achieve strategic objectives and successfully integrate acquisitions, including
Avient Protective Materials; an inability to raise or sustain prices for products or services; our ability
to pay regular quarterly cash dividends and the amounts and timing of any future dividends;
information systems failures and cyberattacks; amounts for cash and non-cash charges related to
restructuring plans that may differ from original estimates, including because of timing changes
associated with the underlying actions; and other factors affecting our business beyond our control,
including without limitation, changes in the general economy, changes in interest rates, changes in
the rate of inflation and any recessionary conditions.
Three Months Ended
December 31,
2022 2021
GAAP
Results
Special
Items
Adjusted
Results
GAAP
Results
Special
Items
Adjusted
Results
(Loss) income from continuing operations before income
taxes $ (77.4) $ 104.3 $ 26.9 $ 27.4 $ 20.5 $ 47.9
Income tax benefit (expense) - GAAP 60.8 — 60.8 (17.1) — (17.1)
Income tax impact of special items (Attachment 3) — (26.8) (26.8) — (4.1) (4.1)
Tax adjustments (Attachment 3) — (39.2) (39.2) — 7.5 7.5
Income tax benefit (expense) $ 60.8 $ (66.0) $ (5.2) $ (17.1) $ 3.4 $ (13.7)
Effective Tax Rate(1) 78.5 % 19.6 % 62.4 % 28.6 %
(1) Rates may not recalculate from figures presented herein due to rounding
15
Year Ended
December 31,
2022 2021
GAAP
Results
Special
Items
Adjusted
Results
GAAP
Results
Special
Items
Adjusted
Results
Income from continuing operations before income taxes $ 63.8 $ 194.0 $ 257.8 $ 203.5 $ 57.1 $ 260.6
Income tax benefit (expense) - GAAP 19.3 — 19.3 (51.9) — (51.9)
Income tax impact of special items (Attachment 3) — (49.4) (49.4) — (13.0) (13.0)
Tax adjustments (Attachment 3) — (28.4) (28.4) — 5.9 5.9
Income tax expense $ 19.3 $ (77.8) $ (58.5) $ (51.9) $ (7.1) $ (59.0)
Effective Tax Rate(1) (30.2)% 22.7 % 25.5 % 22.7 %
(1) Rates may not recalculate from figures presented herein due to rounding
Three Months Ended Year Ended
Reconciliation of Pro Forma Adjusted Earnings per Share December 31, 2022
Net (loss) income from continuing operations attributable to Avient
shareholders $ (17.0) $ 82.8
Special items, after tax (Attachment 3) 38.3 116.2
Amortization expense, after-tax (Attachment 1) 14.6 49.0
Adjusted net income from continuing operations excluding special items 35.9 248.0
APM pro forma adjustments to net income from continuing operations* 2.5 13.6
APM amortization expense, after tax* — 19.1
Pro forma adjusted net income from continuing operations attributable to Avient
shareholders $ 38.4 $ 280.7
Weighted average diluted shares 91.7 92.2
Pro forma adjusted EPS - excluding special items $ 0.42 $ 3.04
* Pro forma adjustment for January - August 2022 APM results (period before Avient ownership) including the impacts of debt financing and
prepayments on net income from continuing operations.
Reconciliation of Pro Forma Net Debt
December 31,
2022
Short-term and current portion of long term debt $ 2.2
Total long-term debt, net 2,176.7
Unamortized discount and debt issuance cost 37.4
Total debt $ 2,216.3
Cash (641.1)
Net taxes due from sale of business 105.0
Adjusted cash $ (536.1)
Net debt $ 1,680.2
16
Free Cash Flow Calculation
December 31,
2022
Cash provided by operating activities 398.4
Capital expenditures (105.5)
Free cash flow $ 292.9
Reconciliation to EBITDA and Adjusted EBITDA
Year Ended
December 31, 2022
Net (loss) income from continuing operations – GAAP $ 83.1
Income tax (benefit) expense (19.3)
Interest expense 119.8
Depreciation and amortization from continuing operations 162.5
EBITDA $ 346.1
Special items, before income tax 194.0
Interest expense included in special items (26.0)
Depreciation and amortization included in special items (5.5)
APM pro forma adjustments - 8 months 2022* 83.1
Adjusted EBITDA $ 591.7
* Pro forma adjustment for January - August 2022 APM results (period before Avient ownership).
https://www.avient.com/sites/default/files/2021-04/avient-sustain-2019-210419-interactive.pdf
Leek, United Kingdom
19.
Bangkok, Thailand 19.
Part of this metric was omitted due to availability (chronic health risks unrelated to COVID-19).
https://www.avient.com/sites/default/files/2020-10/2019-avient-sustainability-report.pdf
Leek, United Kingdom
19.
Bangkok, Thailand 19.
Part of this metric was omitted due to availability (chronic health risks unrelated to COVID-19).
https://www.avient.com/investor-center/news/avient-announces-tenth-consecutive-annual-increase-quarterly-dividend
As we reported in September, we are seeing early signs of recovery from the COVID-19 pandemic and expect demand conditions will continue to improve.
Factors that could cause actual results to differ materially from those implied by these forward-looking statements include the impact the COVID-19 pandemic has on our business, results from operations, financial condition and liquidity; our ability to achieve the strategic and other objectives relating to the acquisition of Clariant's Masterbatch business, including any expected synergies; our ability to successfully integrate Clariant's Masterbatch business and achieve the expected results of the acquisition of Clariant's Masterbatch business, including, without limitation, the acquisition being accretive; disruptions, uncertainty or volatility in the credit markets that could adversely impact the availability of credit already arranged and the availability and cost of credit in the future; the effect on foreign operations of currency fluctuations, tariffs and other political, economic and regulatory risks; changes in polymer consumption growth rates and laws and regulations regarding plastics in jurisdictions where we conduct business; changes in global industry capacity or in the rate at which anticipated changes in industry capacity come online; fluctuations in raw material prices, quality and supply, and in energy prices and supply; production outages or material costs associated with scheduled or unscheduled maintenance programs; unanticipated developments that could occur with respect to contingencies such as litigation and environmental matters; our ability to continue to pay cash dividends including at the increased rate; an inability to raise or sustain prices for products or services; an ability to achieve or delays in achieving or achievement of less than the anticipated financial benefit from initiatives related to acquisitions and integration, working capital reductions, costs reductions and employee productivity goals; information systems failures and cyberattacks; and other factors affecting our business beyond our control, including, without limitation, changes in the general economy, changes in interest rates and changes in the rate of inflation.
https://www.avient.com/news/avient-brings-sustainable-innovation-npe-2024
ColorMatrix™ AAnchor™ Acetaldehyde Control Technology: a finalist for Product Technology Innovation of the Year for sustainable packaging at the Plastics Recycling Show Europe (PRSE) 2024, this specially formulated acetaldehyde scavenger for PET packaging developed to improve recyclability, enhance bottle quality, and meet compliance with regulatory limits – winner will be announced during PRSE 2024 in Amsterdam, June 19-20, 2024
Cesa™ Unify™ A4R Polyolefin Compatibilizer: also a finalist for Product Technology Innovation of the Year for sustainable packaging at the Plastics Recycling Show Europe (PRSE) 2024, this innovative additive enables the use of recycled polyolefins by creating a homogenous polymer mixture, bridging the gap between virgin and recycled polymers, promoting circularity and sustainability – winner will be announced during PRSE 2024 in Amsterdam, June 19-20, 2024
https://www.avient.com/sites/default/files/2023-09/Avient Sustainability Day 2023 - Website %289.19%29.pdf
DISCLAIMER
Avient Corporation 3
Avient Corporation 4
Welcome
Bob Patterson
Chairman, President, and Chief Executive Officer
INTRODUCTION
Sustainability for a Better Tomorrow
Jamie Beggs
Senior Vice President and Chief Financial Officer
Avient Corporation 5
WE ARE A FORMULATOR
CUSTOM
FORMULATION
Avient Corporation 6
Avient Corporation 7
WE ARE INNOVATORS
2,500+
ACTIVE PATENT
FILINGS WORLDWIDE
1,100+
RESEARCH AND
DEVELOPMENT ASSOCIATES
>85% Stage-gate technology projects enable sustainable solutions
INDIA INNOVATION CENTER
33%
2022 VITALITY
INDEX
140+
MATERIAL SCIENCE
PhD ASSOCIATES
Avient Corporation 8
3% 3%
5%
Avient Specialty Formulators Other Specialty /
Chemical Companies
CAPEX / Revenue
2023E
Global footprint enables greater flexibility to exceed
needs of customers and deliver localized technical
and formulation expertise
35
9
36
24
Manufacturing Locations by Region
WE ARE ASSET LIGHT
Note: Free cash flow conversion calculated as (Adjusted EBITDA – Capex) / Adjusted EBITDA
Avient Corporation 9
Asset-light flexibility
enables more nimble
manufacturing capabilities
and lower overhead
Periods of economic
weakness have driven
higher levels of cash
generation due to working
capital improvement
PROVEN TRACK RECORD OF HIGH FREE CASH FLOW CONVERSION
78%
78%
80% 80%
81%
78%
84%
83%
80%
79%
50%
55%
60%
65%
70%
75%
80%
85%
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023E
0
50
100
150
200
250
300
350
400
Fr
ee
C
as
h
Fl
ow
C
on
ve
rs
io
n
Fr
ee
C
as
h
Fl
ow
FC F $ AVNT FC F Conver si on % S&P F CF Conversion %
2 Recent Divestitures - Combined $1.7B in Proceeds
PORTFOLIO EVOLUTION
Avient Corporation 10
Combined $3.6B Investment in Acquisitions Since 2016
Color Business
Distribution
2016 2022
PORTFOLIO TRANSFORMATION
7%
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
Avient Corporation 11
END MARKET TRANSFORMATION
Packaging
Consumer
Healthcare
Defense
Avient Corporation 12
10%
19%
8%
23%
4%
7%
7%
2006 2023E
Other
Industri
es
78%
Healthcare
Consumer
Packaging
22%
56%
14%
10%
43%
9%
2006 2023E
Reduced Exposure to Cyclical End Markets End Market Diversification
Transportation
Building &
Construction
57%
19%
Defense
IMPROVING PROFITABILITY AND EXPANDING MARGINS
Avient Corporation 13
Adj.
Avient Corporation 19
Sustainability is integral to achieving our vision, mission, and
performance that:
• creates a safe and accepting environment that
empowers associates to perform to their fullest potential
• gives back to the communities where we work and live
• enables customers to innovate solutions that help make
the planet more sustainable
• protects the environment by addressing climate change,
conserving natural resources and preventing pollution
• actively manages risk for investors & yields
financial performance
Avient Corporation 20
EXTERNAL ALIGNMENT
DEEPLY EMBEDDED IN OUR CULTURE
Avient Corporation 21
MEGATRENDS OFFER OPPORTUNITIES FOR SUSTAINABLE SOLUTIONS
Advancements in
Technology
Transformation of
Municipalities
Lifestyle
Refresh
Rethinking
Globalization
Evolution of
Healthcare
Avient Corporation 22
SUSTAINABILITY TRENDS DRIVING
AVIENT’S GROWTH
Changes in consumer behavior driven by climate
change & desire to reduce plastics waste
Consumers seeking to buy more sustainable products
from more sustainable companies
Brand owner and retailer demand to meet
sustainability targets & needs
Rising emphasis on preserving and protecting
natural resources & human life
Increased current and pending government legislation
and regulations
CONSUMERS WANT SUSTAINABLE PRODUCTS
Source: Simon Kucher 2022
Avient Corporation 23
85%
Consider sustainability
when they purchase
60%
Rate sustainability as a key
criterion in
purchasing decisions
34%
Are willing to pay more for
sustainable products
25%
Average premium
consumers are willing to pay
for sustainable products
PURPOSE-DRIVEN CONSUMERS NOW LARGEST SEGMENT
Source: IBM / National Retail Federation 2022
Avient Corporation 24
“Purpose-driven consumers seek
products and brands that align with
their values and provide health and
wellness benefits.
Kraft Heinz, August 2023
…L’Oréal redesigned all
Redken hair care bottles to
be made with at least 93%
recycled plastic.
https://www.avient.com/sites/default/files/resources/POL%2520KeyBanc%2520IR%2520Presentation%2520w%2520non-GAAP%252009%252010%25202013.pdf
Use of Non GAAP Measures
Page 3
-150.00%
-50.00%
50.00%
150.00%
250.00%
350.00%
PolyOne S&P 500
Strategy and Execution Drive Results
Page 4
All time closing high of
$29.48
August 1, 2013
• 15 consecutive quarters of
double digit EPS growth
• 42% CAGR adjusted EPS
expansion 2006-2012
• YTD stock price has
increased 42% versus 20%
growth in the S&P
• 275% increase in market cap:
$0.7b $2.6b since 2006
The World’s Premier Provider of Specialized
Polymer Materials, Services & Solutions
Four Pillar Strategy
Page 5
PP&S
15%
Specialty
60%
Distribution
25%
0.12
0.27 0.21
0.13
0.68
0.82
1.00
2.50
$0.00
$0.25
$0.50
$0.75
$1.00
$1.25
$1.50
$1.75
$2.00
$2.25
$2.50
2006 2007 2008 2009 2010* 2011* 2012* 2015
Target
A
dj
us
te
d
Ea
rn
in
gs
P
er
S
ha
re
Appliance
6%
Building &
Construction
13%
Wire & Cable
9%
Electrical &
Electronics
4%
Consumer
9%
Packaging
18%
Industrial
10%
Misc.
5%
HealthCare
9%
Transportation
16%
Textiles
1%
United
States
70%
Europe
14%
Canada
8%
Asia
5%
Latin
America
3%
2012 Revenues: $4.0 Billion*
End Markets*
2012 Revenues: $4.0 Billion*
EPS
Page 6
* Pro Forma includes FY2012 results for Spartech (11/03/12 YE) and Glasforms & excludes discontinued operations
PolyOne
At A Glance
* Restated to exclude discontinued operations
Old
PolyOne Transformation
*Operating Income excludes corporate charges and special items
**Pro Forma results include Spartech and Glasforms acquisitions, Specialty Coatings reclass and excludes discontinued operations
2%
34%
43% 45%
60%
65-
75%
0%
20%
40%
60%
80%
100%
2005 2008 2010 2012 2012 PF** 2015
%
o
f O
pe
ra
ti
ng
In
co
m
e*
JV's PP&S Distribution Specialty
Specialty OI $5M $46M $87M $114M $150M Target
Mix Shift Highlights Specialty Transformation
2015
Target
Page 7
2006 H1 2013 2015
Where we were Where we are
Organic Consolidated
Target
1) Operating Income %
Specialty:
Global Color, Additives & Inks 1.7% 12.7% 12.6% 12 – 16%
Global Specialty Engineered
Materials 1.1% 10.9% 9.2% 12 – 16%
Designed Structures & Solutions — — 4.4% 8 – 10%
Performance Products &
Solutions 5.4% 8.1% 8.2% 9 – 12%
Distribution 2.6% 6.1% 6.1% 6 – 7.5%
2) Specialty Platform % of
Operating Income 6.0% 62% 65 – 75%
3) ROIC* (after-tax) 5.0% 9.4% 15%
4) Adjusted EPS Growth N/A 26%
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
Page 8
*Percentage of Specialty Platform revenue from products introduced in last five years
19.5%
46.5%
2006 Q2 2013
$20.3
$44.7
2006 TTM
Q2'13
14.3%
31.1%
2006 Q2 2013
Research & Development
Spending
Specialty Platform
Vitality Index Progression*
Innovation Drives Earnings Growth
($ millions)
Specialty Platform
Gross Margin %
Page 9
We are Experts in Polymer Science and Formulation
Polymer Science
Formulation
Chemistry
Processing
Inputs
Base Resins
Additives
Modifiers
Colorants
Specialized
Polymer Materials,
Services, and Solutions
Expertise
Satisfied
Consumers
PolyOne Customer
Innovative
Products & Services
Marketplace Demands
Performance Requirements
Value Drivers
Page 10
Positioned for Strong Growth
2015 Target
Rev: $5B
Adj.
August 13 - Key Bank 2013 Investor Presentation non-GAAP v2.pdf
Reconciliation to Condensed Consolidated Balance Sheets