https://www.avient.com/sites/default/files/2023-11/AVNT November IR Presentation.pdf
PRIOR YEAR $790 $710 2022 2023 $107 $112 2022 2023 Sales Adjusted EBITDA (in millions) $0.42 $0.47 2022 PF 2023 Adjusted EPS (in millions) - 10% + 5% + 12% Sales Adjusted EBITDA Adjusted EPS 16 $112 $500 Q4 FY $0.47 $2.30 Q4 FY Q4 AND FULL YEAR 2023 GUIDANCE $710 $3,130 Q4 FY Sales Adjusted EBITDA Adjusted EPS 17 (in millions) (in millions) Guidance: Free Cash Flow $180 $180 Prior Guidance Guidance FREE CASH FLOW & INCREASED DIVIDEND 13th Consecutive Dividend Increase 0.16 0.26 0.42 0.58 0.79 0.85 0.99 1.03 2011 2013 2015 2017 2019 2021 2023 2024 18 S U S TAI NABI L I T Y DAY RE CAP SUSTAINABILITY AS A GROWTH DRIVERLONG-TERM REVENUE GROWTH DRIVERS 60%+ Key Growth Drivers Sustainable Solutions Composites, Healthcare, Asia / LATAM Overlap Other (GDP Growth) Total Company Revenue Growth Drivers Long-Term Growth Rate Sustainable Solutions 8–12% Composites 8–10% Healthcare 8–10% Asia / LATAM 5% Other (GDP growth) 0–2% Avient 6% 20 SUSTAINABILITY TRENDS DRIVE LONG-TERM GROWTH 8-12% Long Term Growth 50 90 2022 2030 Medical Plastics Market Size (in $Billions) 2020 2030 Recycled Plastics Virgin Plastics Growing Demand for Recycled Content Avient Sustainable Solutions 18 46 2023 2032 Global Offshore Annual Wind Installations (in Gigawatts) Sources: McKinsey, Bloomberg, Grand View Research SUSTAINABILITY TRENDS DRIVE LONG-TERM GROWTH 21 • Transformative acquisitions combined with divestitures of more cyclical businesses have improved margins over 400 bps since 2018 • 20% long-term margin goal to be driven by key growth drivers, with sustainable solutions playing a meaningful role 5.4% 11.5% 16.0% 2006 2018 2023E Recovery Growth Drivers Strategic Objective 20%+ +1%+ +3%+ ADJUSTED EBITDA MARGIN EXPANSION 22 • 6% annualized long-term sales growth leveraging sustainable solutions, composites, healthcare, and emerging regions • Expand EBITDA margins to 20% • Deliver annual EBITDA and EPS growth of 10% and 15% • Maintain asset-light, 80% free cash flow conversion profile and be valued as a specialty formulator • Continue fostering our Great Place to Work® culture CREATING A WORLD-CLASS SUSTAINABLE ORGANIZATION 23 PEER COMPARISONS AVIENT IS ASSET LIGHT Capex / Revenue 2023E (%) Avient Specialty Formulators Other Specialty / Chemical Companies Source: Peer data per Bloomberg as of October 27, 2023 Note: Avient reflects 2023 estimated revenue of $3,130 and estimated run-rate CAPEX of $110M. 26 3.5 1.8 2.7 3.0 3.4 3.7 2.8 3.7 4.6 5.0 6.9 7.0 8.6 11.1 Av ie nt KW R FU L PP G AV Y R PM FM C H U N C E EC L AS H H XL EM N SC L FREE CASH FLOW CONVERSION Source: Peer data per Bloomberg as of October 27, 2023 Note: Free cash flow conversion calculated as (Adjusted EBITDA – Capex) / Adjusted EBITDA.
https://www.avient.com/sites/default/files/2022-08/AVNT Aug 2022 Presentation - Jefferies.pdf
Annual Purchases RAW MATERIAL AND SUPPLY CHAIN UPDATE Based on 2021 purchases, excludes Distribution business DYN E E MA ACQ U I S I T I O N 32 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) FIT WITH FOUR PILLAR STRATEGY 33 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 DYNEEMA® OVERVIEW 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 34 Figures reflect 2022 expected sales MIFOverview Competition Valuechain & Go-to-market Strategy Innovation Financials TECHNOLOGY 35 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 36 • 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 37 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 38 • 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 Japan aiming to almost double defense spending over the next 5 years(2) 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(3) • Continued investment in aquaculture as a sustainable food source(4) • 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) “Japan Ruling Party Calls for Defense Spending Boost to 2% of GDP”, WSJ (April 21, 2022) (3) “Global Wind Report 2021”, Global Wind Energy Council (4) “Aquaculture Supports a Sustainable Earth”, NOAA Fisheries 39 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 PRODUCTS AVIENT’S EXISTING COMPOSITES PORTFOLIO 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 40 AVIENT’S COMPOSITES PORTFOLIO SALES AND EBITDA 41 $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) 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% 43 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 2021 REVENUE | $2 .4 BILLION US & Canada 32% EMEA 40% Asia 21% Latin America 7% END MARKET REGION 44 All charts reflect 2021 financials S P E C I A LT Y E N G I N E E R E D M AT E R I A L S Consumer 27% Healthcare 10% Packaging 7% Telecommunications 16% Transportation 11% Industrial 11% Building & Construction 11% Energy 7% 2021 REVENUE | $919 MILLION END MARKET US & Canada 55% EMEA 25% Asia 20% REGION 45 All charts reflect 2021 financials D I S T R I BU 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 EY SU PPL IER S 2021 REVENUE | $1 .6 BILLION 46 All charts reflect 2021 financials TOTA L C O M PA N Y R E G I O N A L S A L E S BY END MARKET 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% 47 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/2025-03/2025 Proxy Statement.pdf
Non-Employee Director Retainer and Meeting Fees In 2024, we paid our non-employee Directors a retainer at an annual rate of $257,500 (payable in quarterly installments in arrears) consisting of $110,000 in cash and $147,500 in targeted value of fully vested common shares (subject to rounding).
In addition, the Non- Executive Chairman receives an additional fixed annual cash retainer (payable in quarterly installments in arrears) equal to $130,000.
Stock Awards (column (b)) Our non-employee Directors’ stock compensation consisted of an annual award (payable in quarterly installments in arrears) of fully vested common shares (deferrable by election).
https://www.avient.com/sites/default/files/2023-07/Avient_CodeConduct_2023_USA.pdf
You must not copy software or install it on other computers in violation of our license agreements.
Avient prohibits payments to expedite routine government actions, such as to expedite a shipment through customs or have a telephone installed, unless approved by the Corporate Ethics Officer or Avient’s Legal department.
https://www.avient.com/sites/default/files/2025-09/Avient_CodeConduct_2025_ENG.pdf
You must not copy software or install it on other computers in violation of our license agreements.
Avient prohibits payments to expedite routine government actions, such as to expedite a shipment through customs or have a telephone installed, unless approved by the Corporate Ethics Officer or Avient’s Legal department.
https://www.avient.com/sites/default/files/2024-10/Avient_CodeConduct_2024_FRA2.pdf
Sécurité physique et violence sur le lieu de travail Chez Avient, nous attachons la plus grande importance à la protection de la sécurité de nos collaborateurs, installations et équipements.
Les personnes qui ne sont pas autorisées à entrer dans nos installations doivent être interrogées, car elles peuvent présenter des risques pour la sécurité.
Vous ne devez pas copier les logiciels ni les installer sur d’autres ordinateurs en violation de nos contrats de licence.
https://www.avient.com/resource-center/knowledge-base/article/what-s-difference-fillers-reinforcements?ind%5B0%5D=6601
PCC improves stiffness and impact in polypropylene and adds impact strength to rigid polyvinyl chloride for such applications as window profiles and siding.
https://www.avient.com/resource-center/knowledge-base/article/what-s-difference-fillers-reinforcements?rtype%5B0%5D=1164
PCC improves stiffness and impact in polypropylene and adds impact strength to rigid polyvinyl chloride for such applications as window profiles and siding.
https://www.avient.com/resource-center/knowledge-base/article/what-s-difference-fillers-reinforcements
PCC improves stiffness and impact in polypropylene and adds impact strength to rigid polyvinyl chloride for such applications as window profiles and siding.
https://www.avient.com/sites/default/files/resources/PolyOne%2520Proxy%2520Statement%25202016.pdf
NON-EMPLOYEE DIRECTOR COMPENSATION 22 2015 NON-EMPLOYEE DIRECTOR COMPENSATION In 2015, we paid our non-employee Directors an annual retainer of $200,000 (payable in quarterly installments in arrears) consisting of $90,000 in cash and $110,000 in value of fully vested common shares.
In addition, the Lead Director and chairpersons of the following committees receive the additional fixed annual cash retainers (payable in quarterly installments in arrears) listed below, which were not increased in 2015.
Stock Awards (column (b)) Our non-employee Directors’ stock compensation consisted of an annual award (payable in quarterly installments in arrears) of $110,000 in value of fully vested common shares, which the Directors could elect to defer.