https://www.avient.com/sites/default/files/2023-02/AVNT Q4 2022 Earnings Presentation.pdf
EPS
(1)
$0.14
$2.67
$3.04
2006 2018 2022PF
TO P- TI E R S U S TA I N A B I L I T Y P E R F O R M A NC E
A N D R E C O G N I T I O N
Industry Sustainability Standards
90th
percentile
84th
ESG Ratings Performance
3
1
4
10
PEOPL E
C U L T U R E I S E V E R Y T H I N G
Community Service
7x Safer
than Industry Average
World-Class Safety
Leadership Development
Over $17 million
raised since 2010
Diversity & Inclusion
11
2 0 2 2 R E S U L T S
Q4 EBITDA BRIDGE
( P R O F O R M A T O TA L C O M PA N Y )
13
$ millions
CAI:
Price / Mix 42
Inflation (20)
SEM:
Price / Mix 14
Inflation (10)
Net Price Benefit 26
Wage and Energy Inflation (13)
Clariant Color Integration Synergies 4
Incentives, Other Employee Costs 21
FX (10)
Q4 2022 $107
Adjusted
EBITDA
Q4 2021 $ 132
Demand (50)
Russia Import Sales (3)
• Demand contraction
especially prevalent in
EMEA and Asia
• Pricing continues to cover
inflation of raw materials,
wages and energy
P ROV E N T R AC K R E C O R D O F S T RO N G A N D
I M P ROV I N G F R E E C A S H F LOW G E N E R AT I O N
14
• Periods of economic
weakness have driven
higher levels of cash
generation due to
working capital
management
• Anticipate continued
strong free cash flow
generation and
conversion despite
global uncertainty
78% 78%
80% 80% 81% 78%
84% 83%
80%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
2014 2015 2016 2017 2018 2019 2020 2021 2022
0
50
100
150
200
250
300
350
400
F
re
e
C
a
s
h
F
lo
w
C
o
n
v
e
rs
io
n
F
re
e
C
a
s
h
F
lo
w
FCF $ AVNT FCF Conversion % S&P FCF Conversion %
Note: Free cash flow conversion calculated as (Adjusted EBITDA – Capex) / Adjusted EBITDA. 2020 is pro forma for Clariant Color and 2022 is pro forma for Avient Protective Materials
$600 $592
2021 2022
$3.02 $3.04
2021 2022
FULL YEAR 2022 PERFORMANCE
( T O TA L C O M PA N Y P R O F O R M A )
15
Sales Adjusted EBITDA
$3,712 $3,653
2021 2022
- 2%
Adjusted EPS
- 1% + 1%
(in millions) (in millions)
(+ 4% excluding FX) (+ 5% excluding FX) (+ 9% excluding FX)
FULL YEAR 2022 SEGMENT PERFORMANCE
16
CAI
$2,402 $2,355
Sales
($ in millions)
$409 $402
EBITDA
SEM Pro Forma
$1,308 $1,300
Sales
$278 $272
EBITDA
(+ 4% excluding FX)
- 2% - 1%
(+ 5% excluding FX)
- 2%
(+ 4% excluding FX)
- 2%
(+ 2% excluding FX)
PRO FORMA FULL YEAR EPS BRIDGE
17
Pro Forma 2021 Adjusted EPS 3.02$
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
( P R O F O R M A T O TA L C O M PA N Y )
18
$ 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
EBITDA
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
2 0 2 3 G U I D A N C E
$125
$530
Q1 FY
$0.55
$2.40
Q1 FY
2023 GUIDANCE
20
Sales Adjusted EBITDA
$845
$3,450
Q1 FY
Adjusted EPS
(in millions) (in millions)
CA SH FLOW / BALANCE SHEET
21
• IT investment to further
integrate acquired
businesses and capture
operational efficiencies
• Restructuring actions to
streamline operations and
improve profitability, primarily
in Europe
($ 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
GROW TH DR IVER S: PROV EN SUCC ESS
23 (1) Pro forma for the acquisition of Avient Protective Materials (APM)
COMPOSITES
$51
$84
$212
$668
2016 2018 2020 2022
Long Term Growth Rate
10%
Organic CAGR
10%
HEALTHCARE
$108 $113
$231
$293
2016 2018 2020 2022
Long Term Growth Rate
8-10%
Organic CAGR
11%
ASIA/EMERGING REGIONS
$265
$358
$726
$830
2016 2018 2020 2022
Long Term Growth Rate
5%
Organic CAGR
12%
$340
$455
$790
2016 2018 2020 2022
$1,175
SUSTAINABLE SOLUTIONS
Long Term Growth Rate
8-12%
Organic CAGR
11%
(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%
L E V E R AG I N G O U R T R A N S F OR M E D PO RT F O L I O
24
Healthcare
8%
Packaging
24%
Consumer
20%
Building &
Construction
10%
Industrial
15%
Transportation
9%
Energy
4% Telecom.
4%
2022 PF
$3.65B
sales
Defense
6%
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)
(1)
$340M
$455M
$790M
2016 2018 2020PF 2022PF
$1,175M
P E E R C O M PA R I S O N S
AV I E N T I S A S SE T L I G H T
Capex / Revenue
2023E (%)
Avient Specialty
Formulators
Other Specialty /
Chemical Companies
Source: Peer data per Bloomberg as of February 13, 2023
Note: Avient reflects 2023 estimated revenue of $3,450 and estimated run-rate CAPEX of $110M.
27
3
2
3
3
4 4
3
4
5 5 5
6
7 7
A
vi
e
n
t
K
W
R
P
P
G
F
U
L
A
V
Y
R
P
M
F
M
C
H
U
N
H
X
L
C
E
E
C
L
A
S
H
S
C
L
E
M
N
F R E E C A S H F LOW C O N V E R S I O N
Source: Peer data per Bloomberg as of February 13, 2023
Note: Free cash flow conversion calculated as (Adjusted EBITDA – Capex) / Adjusted EBITDA.
Free Cash Flow Calculation
Year Ended
December 31,
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
3
Three Months Ended
December 31,
Year Ended
December 31,
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
* Pro forma adjustment for January - August 2022 APM results (period before Avient ownership).
https://www.avient.com/sites/default/files/2023-10/2023 Syncure Wire and Cable Product Selection Guide.pdf
Syncure™ XLPE
Cross-linkable
Polyethylene
Formulations
FOR LOW VOLTAGE CABLES
PRODUCT SELECTION GUIDE
Syncure™ XLPE
MOISTURE CROSS-LINKABLE POLYETHYLENE INSULATION FOR LOW VOLTAGE CABLE SYSTEMS
SYSTEM S100FH S100FH-XUV S100FH-UV S100FV S100FV-UV S112NA S120NA S200FH S200FV
Applications
Building Wire,
Tray Cable
Building Wire,
Tray Cable
Photo-Voltaic (PV)
Wire
Building Wire,
Tray Cable
Building Wire,
Tray Cable
Building Wire,
Teck-90
Pipe and Tube
Building Wire, Tray Cable,
Service Entrance
Building Wire, Tray Cable,
Service Entrance
Specification UL 44 UL 44 UL 44, UL 4703 UL 44 UL 44 CSA 22.2
Suitable for
NSF 61
UL 44 UL 44
Wire Type
XHHW-2, RHW-2, USE-2,
SIS
XHHW-2, RHW-2, USE-2,
SIS
XHHW-2, RHW-2,
USE-2, SIS, PV
XHHW-2, RHW-2,
SIS
XHHW-2, RHW-2,
USE-2, SIS, PV
RW-90, Teck-90 –
RHW-2, RHW, RHH,
XHHW-2, XHH, XHHW, SIS
RHW, RHH, RHW-2
Components %
83% S1054A
17% V0022G RoHS
83% S1054A
17% V0022G-UV RoHS
70% S1054A
30% V0022G-UV RoHS
50% S1054A
50% V0044G RoHS
50% S1054A
50% V0044G-UV RoHS
95% S1054A
5% S1000B
95% S1016A
5% S1037B
78% S1054A
22% SC5400-0002 RoHS
MB ALT FR
50% S1054A
50% SC5400-0003 RoHS
MB ALT FR
Features
Horizontal
Flame
Horizontal Flame,
UV Resistant,
Colors Possible
Horizontal Flame,
FV-1 Flame, UV Resistant,
Colors Possible
VW-1
VW-1, UV Resistant,
Colors Possible
Non-FR Rigid Pipe Applications
Horizontal Flame,
DBDPE-free
VW-1, DBDPE-free
GENERAL PROPERTIES
Specific Gravity 1.01 1.02 1.10 1.31 1.31 0.92 0.95 1.01 1.31
Hardness Shore D,
10 Seconds
47 47 47 48 48 47 59 47 48
Gel 68 68 70 70 70 72 72 68 70
TENSILE PROPERTIES
Tensile Strength
(psi) 2800 2500 2650 3200 2650 2800 4500 2800 3200
Elongation % 400 400 540 470 540 400 80 400 470
Tensile
Retention %
100 100 97 110 110 95 75 95 100
Elongation
Retention %
90 90 94 100 100 90 75 90 93
ELECTRICAL
Dielectric
Strength (V/mil) 1000 1400 1400 1200 1200 1000 – 1000 1200
Dielectric
Constant
2.31 2.45 2.61 2.61 2.61 2.24 2.1 2.31 2.61
Dissipation
Factor %
0.0012 0.0080 0.008 0.0043 0.0043 0.0008 0.002 0.0012 0.0043
THERMAL
Temperature
Rating °C
90 90 90 90 90 90 125 90 90
Heat
Deformation %
10 5 5 5 5 10 10 10 5
The Syncure™ XLPE portfolio is a two-step, silane-
grafted, moisture cross-linkable polyethylene system.
https://www.avient.com/sites/default/files/2022-02/Sustainability ESG Disclosures_Carbon Black.pdf
In plastics, paints, and inks carbon black is used as a color pigment.
USES AND APPLICATIONS
Colored printing inks, non-impact printing, coatings, paints and lacquers, plastics, spinning fibers, specials
applications; pigment, conductivity, reaction media, UV-filters.
Toxicity for Reproduction
PROPERTY DETAIL
Physical State Solid
Form Powder/ Beads
Color Black
Odor Odorless
Melting Point 3550°C
Boiling Point 500–600°C
Partition Coefficient:
N-octanol/Water
Not Applicable
Bulk Density 1.7-1.8 g/cm3 (20°C)
Water Solubility Insoluble
Self-ignition Temperature >284°F
Flammability >45 s
Explosiveness 50 g/m3
PHYSICAL/CHEMICAL PROPERTIES
DOCUMENT NUMBER_ SSS-001
EXPOSURE
HUMAN HEALTH SAFETY ASSESSMENT
Human Health
Carbon Black, when generally used as noted above is bound into a matrix.
https://www.avient.com/sites/default/files/2022-02/Sustainability ESG Disclosures_Titanium Dioxide.pdf
TiO2 is a naturally occurring mineral used as a bright white pigment for paint, in the food industry as a coloring,
in sunscreens and cosmetics, and in other industrial uses.
CHEMICAL IDENTITY
USES AND APPLICATIONS
This chemical or product is generally used in the following manner as a coloring agent or a pigment.
PHYSICAL/CHEMICAL PROPERTIES
DOCUMENT NUMBER_ SSS-002
CATEGORY DETAIL
EC Number 236-675-5
CAS Number 13463-67-7
Name Subclass 1 Titanium Dioxide (TiO2)
Structural Formula O======Ti====== O
PROPERTY DETAIL
Physical State Solid
Form Crystalline
Color White
Odor Odorless
Melting Point 1560–1843°C
Boiling Point 3,000°C
Bulk Density 3.9 g/mL at 25°C
Water Solubility Immiscible
DOCUMENT NUMBER_ SSS-002
HEALTH EFFECTS
HUMAN HEALTH SAFETY ASSESSMENT
Consumer
Based on available data, TiO2 is not a hazardous substance.
https://www.avient.com/sites/default/files/2022-04/Versaflex XP Wet Grip Product Bulletin_NEW.pdf
KEY CHARACTERISTICS
• Excellent COF performance (both wet and dry)
• Outstanding abrasion and UV resistance
• Easily colorable
• Custom formulations available to achieve
specific performance properties
• Injection moldable (can be overmolded)
and extrudable
• Retains properties and performance when
immersed in salt water
MARKETS & APPLICATIONS
This grip-enhancing TPE is colorable and
customizable to meet the look and functional
requirements of a broad range of consumer
applications.
Versaflex XP 2850
Hardness, Shore A 53
Specific Gravity 0.89
Color Natural
Tensile Strength (psi) 616.4
Elongation at Break (%) 541.4
Viscosity @ 11170/sec (Pa s) 10.9
Dry Kinetic COF 1.256
Wet Kinetic COF 2.463
Increase in COF* (%) 96.1
Abrasion Loss** (mg/cycle) 0.014
Bondability*** PP, PE
TECHNICAL PROPERTIES OF VERSAFLEX XP WET GRIP MATERIAL
* Pull time = 5 sec; Sled Weight = 203 grams; Rate = 30cm/min
** Weight = 1000 grams; Cycles = 500; Wheel = H-18
*** For bonding to other substrates, please contact Avient
COMPARING VERSAFLEX XP 2850 WITH COMMONLY USED WET GRIP MATERIALS
3.00
2.50
2.00
1.50
1.00
0.50
0.00
1.26
2.46
0.85
0.52
0.40
1.20
0.52 0.50 0.52 0.500.50 0.49
Wax Rubber EVA Foam Rubberized
Vinyl
Versaflex
XP 2850
PVC
DRY WET
Wet/Dry COF Performance
*Prepared to standard ASTM D1141-98R21
ps
i
D
ur
om
et
er
(S
ho
re
A
)
https://www.avient.com/sites/default/files/2021-09/olefins-brochure.pdf
Increasing PCR
especially can be tricky, but here are some
considerations for achieving those higher
percentages:
• Using more PCR can affect the color of
your package as PCR streams can vary
from region to region.
Super concentrates
can give greater flexibility in coloring
higher levels of PCR than traditional
masterbatches, and can be used in a multi-
layer bottle construction
We will consider the type and percentage of
PCR you are using, and will also work with you on
your targeted let-down ratio (LDR) and the color or
special effect you want to attain.
https://www.avient.com/sites/default/files/2020-08/colormatrix-flexcart-mini-liquid-metering-system-flyer-1.pdf
The FlexCart Mini system is designed as the metering system
for liquid colorants and additives within a reduced space.
PlanetPak containers are optimized and recommended
for Avient liquid colors and additives.
Avient can provide support and assistance on every aspect of
liquid color and additive processing.
https://www.avient.com/sites/default/files/2023-03/2023 Paddlesports Application Bulletin.pdf
APPLICATION BULLETIN
STRENGTH & FLEX
Excellent Dimensional Stability,
High Stiffness, Impact Resistance
SOLUTION: Short & Long Fiber
Formulations, Continuous Fiber
Composite Tapes & Laminates
DURABILITY
Density, Stiffness, Strength
SOLUTION: Short & Long Fiber
Formulations
SURFACE PROTECTION
Performance Enhancements, Chemical Resistance
SOLUTION: Scratch & Mar Resistance,
UV Stable Additives
TACTILE EXPERIENCE
Soft Touch, Slip Resistance
SOLUTION: Thermoplastic
Elastomers
METAL REPLACEMENT
High Stiffness-to-Weight Ratio,
Lightweighting, Buoyancy
SOLUTION: Continuous Filament
Winding Technology
EXTREME
PERFORMANCE
Waterproof Seals
& Closures
SOLUTION: Thermoplastic
Elastomers
DYNAMIC COMFORT
Durability, Customization,
Shock Absorption
SOLUTION: Thermoplastic
Elastomers
COLOR RESILIENCE
Excellent Adhesion
to Substrates,
Weatherability
SOLUTION: Plastisol
Textile Inks
FUNCTIONALITY
High Stiffness, Structural Integrity,
Metal Replacement
SOLUTION: Short & Long Fiber
Formulations, Continuous Fiber Composite
Tapes & Laminates
AESTHETIC APPEAL
Custom Colors, Patterns
& Tones
SOLUTION: Custom Polymer
Colorants, Specialty Additives
RESILIENCE
Weatherability, Longevity
SOLUTION: Specialty
Engineered Polymer
Formulations
STEM TO STERN
OUTSTANDING FROM
Explore the many ways polymers can help you innovate to
meet evolving consumer demands and create thoughtfully
designed paddlesports products that set your brand apart.
https://www.avient.com/sites/default/files/2025-03/ColorMatrix Smartheat RHC Technical Bulletin.pdf
It
can be supplied as a stand-alone product or as a
combination product, where it can be incorporated
into a liquid color, acetaldehyde scavenger, or UV
light barrier additive.
EU FDA Mercosur
SmartHeat RHC Yes Yes Yes
PACKAGING
Package Type Quantity
5G Pail Up to 40 lbs
Planetpak Up to 40 lbs
Test Description Test Method Units Typical Values
Viscosity Avient Method cP 6,000–10,000
Density Avient Method Lbs/gal 7.9–8.9
Color Variance Avient Method ∆E 0.0–1.0
Color Appearance Visual — Slight Blue
Dispersion Pressout Visual — Pass
Opacity: Visual Visual — Pass
TYPICAL GENERAL PROPERTIES1
1Typical values are not to be construed as specifications.
https://www.avient.com/sites/default/files/2024-05/Responsible Care_14001 Global Cert_Avient_2024.pdf
Design and Manufacture of Colorants and Additives for Plastics
65536-110140Certificate No:
Page 23 of 53
ABS Quality Evaluations
ABS Quality Evaluations, Inc. 1701 City Plaza Drive, Spring, TX 77389, U.S.A.
Design and Manufacture of Colorants and Additives for Plastics
65536-56175Certificate No:
Page 35 of 53
ABS Quality Evaluations
ABS Quality Evaluations, Inc. 1701 City Plaza Drive, Spring, TX 77389, U.S.A.
Manufacture of Colorants and Additives for Plastics
65536-100253Certificate No:
Page 52 of 53
ABS Quality Evaluations
ABS Quality Evaluations, Inc. 1701 City Plaza Drive, Spring, TX 77389, U.S.A.