https://www.avient.com/sites/default/files/resources/PolyOne%2520IR%2520Presentation%2520-%2520RW%2520Baird%25202015%2520Industrial%2520Conference%2520-%2520November%25202015.pdf
PolyOne Corporation Page 4
PolyOne Commodity to Specialty Transformation
• Volume driven,
commodity producer
• Heavily tied to
cyclical end markets
• Performance largely
dependent on non-
controlling joint
ventures
2000-2005 2006 - 2009 2010 – 2014 2015 and beyond
• Steve Newlin
appointed, Chairman,
President and CEO
• New leadership team
appointed
• Implementation of four
pillar strategy
• Focus on value based
selling, investment in
commercial resources
and innovation to drive
transformation
• Substantial EPS growth
from $0.13 to all-time
high of $1.80
• Shift to faster growing,
high margin, less
cyclical end markets
• Key acquisitions propel
current and future
growth, as well as
margin expansion
• Specialty mix expands
to 65% of Operating
Income – strongest mix
of earnings in history
• Accelerating growth
• Deliver consistent
double digit annual
EPS growth
• Maintain >35% vitality
index
• Pursue strategic
acquisitions that
expand specialty
offerings and
geographic breadth
• Invest and grow
current and next
generation talent
PolyOne Corporation Page 5
Appliances
5%
Building &
Construction
12%
Consumer
10%
Electrical &
Electronics
5%
Healthcare
11%
Industrial
14%
Packaging
14%
Transportation
20%
Wire & Cable
9%
Distribution
28%
PP&S
20%
Specialty
52%
United States
69%
Europe
13%
Canada
7% Asia
6%
Latin America
5%
2014 Revenues: $3.8 Billion
End Markets
2014 Revenues: $3.8 Billion
PolyOne
At A Glance
$0.12
$0.27 $0.21
$0.13
$0.68
$0.82
$1.00
$1.31
$1.80
2006 2007 2008 2009 2010 2011 2012 2013 2014
Adjusted EPS
PolyOne Corporation Page 6
Old
PolyOne
*Operating Income excludes corporate charges and special items
2%
34% 43%
62%
65% 66%
0%
20%
40%
60%
80%
100%
2005 2008 2010 2013 2014 YTD 2015 2020
%
o
f O
pe
ra
tin
g
In
co
m
e*
JV's Performance Products & Solutions Distribution Specialty
80%+
Specialty OI $5M $46M $87M $195M $242M $183M
Mix Shift Highlights Specialty Transformation
Transformation
2020
Platinum
Vision
Platinum
Vision
PolyOne Corporation Page 7
Confirmation of Our Strategy
Specialization Globalization
Operational
Excellence
Commercial
Excellence
Driven by our core values of Collaboration, Innovation and Excellence, we are the
world’s premier provider of specialized polymer materials, services and solutions
PolyOne Corporation Page 8
2006 YTD 2015 2020
“Where we were” “Where we are” Platinum Vision
1) Operating Income %
Specialty:
Global Color, Additives & Inks 1.7% 17.2% 20%+
Global Specialty Engineered
Materials 1.1% 15.1% 20%+
Designed Structures & Solutions 1.4% (2012) 3.5% 12 – 14%
Performance Products &
Solutions 5.5% 8.1% 10 – 12%
Distribution 2.6% 6.6% 6.5 – 7.5%
2) Specialty Platform % of
Operating Income 6.0% 66% 80%+
3) ROIC 5.0% 11.9% 15%
4) Adjusted EPS Growth N/A
24 Consecutive
Quarters of YOY
EPS Growth
Double Digit
Expansion
Proof of Performance & 2020 Goals
PolyOne Corporation Page 9
Innovation Drives Earnings Growth
*Percentage of Specialty Platform revenue from products introduced in last five years
$20
$52
2006 TTM
Research & Development
Spending
($ millions)
Specialty Platform
Vitality Index Progression*
14%
28%
2006 TTM
Specialty Platform
Gross Margin %
12%
43%
2006 TTM
Specialty Vitality Index Target ≥ 35%
TTM 9/30/15 TTM 9/30/15 TTM 9/30/15
PolyOne Corporation Page 10
Innovation Pipeline Potential
Prototype Frame
Opportunity
Scale-up & Test
Market
Build
Business Case
Commercial
Launch
Phase 1 Phase 2 Phase 3 Phase 4 Phase 5
12
4
9
6
1
6
3 7 4
5
6
1
1
7
2
Breakthrough
Platform
Derivative
Number of Projects 12 10 23 19 10 74
Specialty
Addressable Market
($ millions)
- - $1,150 $1,000 $250 $2,400
PolyOne Corporation Page 11
Lightweighting with Advanced Composites
Increasing Healthcare Penetration
Innovation Initiatives
Expansion in Consumer Markets
New Market Development
$$$ $$ $
High Temperature Polymers
PolyOne Corporation Page 12
Design and Service as a Differentiator
Right Material &
Color
Desired
Product Design
Appropriate
Manufacturing Process
Delivering Concept to
Commercialization
Connecting
the Dots with
iQ Design Labs and
InVisiO Color Design
PolyOne Corporation Page 13
Customer First Through World-Class Service
Strengthening relationships through:
Providing LSS services to small/medium sized customers
• Supporting customers who lack their own formal process improvement initiatives
Providing training in Customer Centric Selling Skills with customers’
sales force
PolyOne Corporation Page 14
60%
97%
20%
30%
40%
50%
60%
70%
80%
90%
100%
2008 Q3 2015
Pension Funding**
As of September 30, 2015
Debt Maturities & Pension Funding
Net Debt / Adjusted EBITDA** = 2.1x
$49
$121
$317
$600
$400
$0
$100
$200
$300
$400
$500
$600
$700
$800
2015 2018 2020 2023
Debt Maturities
As of September 30, 2015
($ millions)
Coupon Rate: 7.500% Variable* 7.375% 5.250%
** includes US-qualified pension plans only *Weighted average rate on revolver was 2.49% as of 9/30/15 **TTM 9/30/2015
PolyOne Corporation Page 15
Free Cash Flow and Strong Balance Sheet
Fund Investment / Shareholder Return
Expanding our sales,
marketing, and
technical capabilities
Investing in operational
and LSS initiatives
~75% of capital
expenditures fund
growth initiatives Organic
Growth
Acquisitions
Share
Repurchases
Dividends
$0.16
$0.20
$0.32
$0.40
$0.48
$0.10
$0.20
$0.30
$0.40
$0.50
2011 2012 2013 2014 2015 2016
Annual Dividend
Targets that expand
our:
• Specialty offerings
• End market
presence
• Geographic breadth
Synergy opportunities
Adjacent material
solutions
Repurchased nearly
2.4 million shares in Q3
2015
Repurchased 14.8
million shares since
early 2013
5.2 million shares are
available for
repurchase under the
current authorization
$0.24
PolyOne Corporation Page 16
The New PolyOne: A Specialty Growth Company
Why Invest In PolyOne?
Addressable market exceeds $40 billion
Strong performance demonstrates that our strategy and execution
are working
Megatrends and emerging opportunities align with our strengths
Innovation and services provide differentiation, incremental pricing
power, and competitive advantage
Strong and proven management team driving growth and
performance
PolyOne Corporation Page 17
Appendix
PolyOne Corporation Page 18
$0.20
$0.28
$0.36
$0.49
$0.54
$0.00
$0.15
$0.30
$0.45
$0.60
Q3'11 Q3'12 Q3'13 Q3'14 Q3'15
Adjusted EPS
Q3 2015 Financial Highlights
Color Additives & Inks operating
margin reaches record third quarter
level of 17.3%
Specialty Engineered Materials
operating margin grew 210 basis
points year-over-year to 14.7%
Third quarter adjusted EPS has
grown on average 28% per year
since 2011
$13
$19
$29 $30
$35
$0
$10
$20
$30
$40
Q3'11 Q3'12 Q3'13 Q3'14 Q3'15
GCAI Operating Profit
$11
$13
$15
$18
$20
$10
$14
$18
$22
Q3'11 Q3'12 Q3'13 Q3'14 Q3'15
GSEM Operating Profit
Note: $ in millions, except per share data
PolyOne Corporation Page 19
Appliances
2%
Building &
Construction
12%
Consumer
7%
Electrical &
Electronics
1%
Healthcare
6%
Industrial
14%
Packaging
31% Textiles
7%
Transportation
8%
Wire & Cable
12% 1.7%
4.6% 5.1%
5.5%
7.2% 8.1%
9.7%
12.2%
17.2%
20%+
2006 2007 2008 2009 2010 2011 2012 2013 2014 YTD
2015
2020
Operating Income % of Sales
At a Glance
Global Color, Additives and Inks
2014 Revenues: $0.9 Billion Solutions
Expanding Profits 2014 Revenue by Industry Segment
14.7%
Platinum
Vision
United States
44%
Europe
36%
Canada
2%
Asia
12%
Latin America
6%
PolyOne Corporation Page 20
Appliances
4% Building &
Construction
3%
Consumer
18%
Electrical &
Electronics
16%
Healthcare
12%
Industrial
8%
Packaging
5%
Transportation
20%
Wire & Cable
12%
At a Glance
Global Specialty Engineered Materials
2014 Revenues: $0.6 Billion Solutions
2014 Revenue by Industry Segment Expanding Profits
1.1% 1.3%
3.4%
5.1%
9.6%
8.0% 8.6%
9.3%
15.1%
20%+
2006 2007 2008 2009 2010 2011 2012 2013 2014 YTD
2015
2020
Operating Income % of Sales
Platinum
Vision
12.1%
United States
44%
Europe
33%
Canada
2%
Asia
19%
Latin America
2%
PolyOne Corporation Page 21
Appliances
2% Building &
Construction
8%
Consumer
5%
Healthcare
6%
Industrial
23%
Packaging
27%
Transportation
30%
United States
96%
Canada
4%
At a Glance
Designed Structures and Solutions
Solutions 2014 Revenues: $0.6 Billion
Expanding Profits 2014 Revenue by Industry Segment
1.4%
5.6%
7.3%
3.5%
12-14%
2012 2013 2014 YTD 2015 2020
Operating Income % of Sales
Platinum
Vision
PolyOne Corporation Page 22
Appliances
8%
Building &
Construction
33%
Consumer
5% Electrical &
Electronics
3%
Healthcare
1%
Industrial
11%
Packaging
5%
Transportation
18%
Wire & Cable
16%
5.5%
6.9%
3.8%
3.6%
5.5%
4.3%
6.3%
7.2%
8.1%
2006 2007 2008 2009 2010 2011 2012 2013 2014 YTD
2015
2020
Operating Income % of Sales
At a Glance
Performance Products and Solutions
Solutions
Expanding Profits
2014 Revenues: $0.8 Billion
10-12%
Platinum
Vision
2014 Revenue by Industry Segment
7.7%
United States
80%
Canada
14%
Asia
2%
Latin America
4%
PolyOne Corporation Page 23
Appliances
6%
Building &
Construction
5%
Consumer
13%
Electrical &
Electronics
6%
Healthcare
23%
Industrial
15%
Packaging
4%
Transportation
25%
Wire & Cable
3%
2.6%
3.0%
3.5%
4.0%
4.6%
5.6%
6.4% 5.9%
6.6% 6.5-7.5%
2006 2007 2008 2009 2010 2011 2012 2013 2014 YTD
2015
2020
Operating Income % of Sales
15%
52%
2006 Q3 2015
At a Glance
Distribution
Key Suppliers 2014 Revenues: $1.1 Billion
ROIC Expanding Profits
6.1%
Platinum
Vision
http://www.polyone.com/Pages/VariationRoot.aspx
PolyOne Corporation Page 24
2 lbs Plastic
=
3 lbs aluminum
or
8 lbs steel
or
27 lbs glass
33% less material by weight
than aluminum
75% less material by weight
than steel
93% less material by weight
than glass
Requires 91% less energy to
recycle a pound of plastic versus
a pound of paper
Source: SPI: Sustainability and the Plastics Industry
Plastics: Key to Future Sustainable Development
PolyOne Corporation Page 25
Commitment to Operational Excellence
81%
93%
2006 2014
16.2%
9.9%
2006 2014
On-Time Delivery
Working Capital % of Sales
5%
43%
2006 2014
Percent of Associates Trained in LSS
Five consecutive years – CFO Magazine
Best Working Capital Management in the
chemical industry
World’s Best Business
Process Excellence
Program in 2012*
113 trained Black Belts
235 trained Green Belts
151 trained Kaizen Leaders
World’s Best Start-up
Program for Lean Six Sigma
Deployment in 2009*
*Both awards received from International Quality and Productivity Center
PolyOne Corporation Page 26
Application Examples
PolyOne Corporation Page 27
Outdoor Applications
• Leading provider of high performance
specialty materials for the recreational
and sports & leisure industry
• Well positioned across all segments to
address market needs
Metal to Polymer Conversion
Lightweighting
Thermal Management
Impact Performance
Source: Outdoor Industry Association
PolyOne Corporation Page 28
$1.5 billion attractive, growing market
Additives improve performance and reduce cost
through light-weighting, reduced waste, faster
cycle times, and extended shelf life of finished
product
Aligned with megatrend of protecting the
environment:
Sustainability benefits include lower
package weight and improved recyclability
of package at end of use
Market Opportunity
Leading Global Supplier of Additives In Growing PET Market
Shelf-life extension
Greater product
consistency
Recyclability and
reduced carbon
footprint
Color and Special
Effects
Weight reduction
Enhanced product
aesthetics
High heat resistance
PET Bottling Technology
0.0
10.0
20.0
30.0
40.0
50.0
60.0
70.0
2009 2014 2019
Asia Pacific North America
Latin America Western Europe
Eastern Europe Middle East and Africa
Global PET Packaging Growth 2009-2019
Source: Euromonitor retail off-trade consumption (PET bottles & jars, home care, personal care,
food & non-alcoholic beverages)
B
ill
io
n
un
its
5% CAGR
PolyOne Corporation Page 29
• Includes formulation and
consultative services to assist
manufacturers and brand owners in
positively identifying their finished
goods
• Protects brand equity & consumer
welfare
• Reduces exposure to unwarranted
recall expenses
• Secures supply chain integrity –
support for safe expansion into new
geographies
Authentication Technology
PolyOne Corporation Page 30
• Color harmonization across
15 unique color-and-polymer
combinations
• Eliminated need for multiple pre-
colored materials
• Reduced Land Rover’s working
capital
2015 Range Rover Evoque Interior
PolyOne Corporation Page 31
• Reduced health and
environmental impact
• System cost reduction
• Radiation-shielding
performance
• Parts consolidation
• Design freedom
CT Scanner
PolyOne Corporation Page 32
Metal Replacement Solutions
• Replaces metal in LED lighting
• Extends LED durability and life
span eliminating hot spots
• Greater design flexibility with
fewer parts
• Weight reduction
• Simplifies manufacturing and
lowers total production cost
PolyOne Corporation Page 33
High-Barrier Packaging Containers
• Capability to extrude up to 13
layers
• Strong oxygen and moisture
vapor transmission protection
• Can be made symmetrical or
asymmetrical to meet
customized needs of broad
variety of applications
• Barrier protection and superior
sensory properties
PolyOne Corporation Page 34
Aerospace Applications
• Leading provider of specialty materials
for the aerospace industry
• Typical applications
Mil-spec aircraft windows, canopies,
windscreens, instrument panels,
wingtip lenses
Interior – gallery furnishings, tray
tables, arm rests, trim strips, joint/edge
coverings
• Benefits:
High impact strength
Resistant to UV rays
Flame and smoke compliance
Easy to clean with aggressive cleaners;
anti-microbial grades available
Range of sizes, thicknesses, colors, etc.
1
Reconciliation of Non-GAAP Financial Measures (Unaudited)
(Dollars in millions, except per share data)
Below is a reconciliation of non-GAAP financial measures to the most directly comparable measures calculated and presented in
accordance with U.S.
https://www.avient.com/sites/default/files/resources/PolyOne%2520IR%2520Presentation%2520-%2520Seaport%2520Global%2520Transports%2520%2526%2520Industrials%2520Conference.pdf
Addressable market exceeds $40 billion
Strong performance demonstrates that our strategy and execution
are working
Megatrends and emerging opportunities align with strengths
Innovation and services provide differentiation, incremental pricing
power and competitive advantage
Strategic balance between reinvestment for growth and returning
cash to shareholders
Strong and proven management team driving growth and
performance
18 POLYONE CORPORATION
Segment Highlights
POLYONE CORPORATION 19
2016 Revenue: $0.8 Billion
At a Glance: Color, Additives & Inks
Key Applications
2016 Revenue by Industry Expanding Profits
1.7%
4.6% 5.1%
5.5%
7.2% 8.1%
9.7%
12.2%
14.7%
16.7% 16.0%
20%+
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2020
Operating Income % of Sales
Platinum
Vision
United
States
45%
Europe
33%
Asia
15% Latin
America
5%
Canada
2%
Packaging
30%
Industrial
15%
W & C
10%
B & C
10% Textiles
9%
Transportation
9%
Consumer
7%
Healthcare
6%
Appliance
2%
E & E
2%
POLYONE CORPORATION 20
2016 Revenue: $0.6 Billion
At a Glance: Specialty Engineered Materials
2016 Revenue by Industry Expanding Profits
1.1% 1.3%
3.4%
5.1%
9.6%
8.0% 8.6%
9.3%
12.1%
14.7% 14.3%
20%+
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2020
Operating Income % of Sales
Platinum
Vision
Consumer
19% Transportation
19%
E & E
15%
W & C
15%
Healthcare
11%
Industrial
8%
Packaging
7%
Appliance
3%
B & C
3%
United
States
51%
Europe
27%
Asia
20%
Canada
2%
Key Applications
POLYONE CORPORATION 21
2016 Revenue: $0.4 Billion
At a Glance: Designed Structures & Solutions
2016 Revenue by Industry Expanding Profits
1.4%
5.6%
7.3%
3.0%
8-10%
-0.9%
2012 2013 2014 2015 2016 2020
Operating Income % of Sales
Platinum
Vision
Transportation
27%
Industrial
21%
Packaging
21%
B & C
11% Healthcare
8%
Consumer
8%
Appliance
3%
E & E
1%
Key Applications
United
States
95%
Canada
5%
http://www.google.com/url?
sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&uact=8&ved=0CAcQjRw&url=http://www.mullerquaker.com/products/greek100/greek100-peach-and-passion-fruit&ei=-acYVZq7EIqwyASDjYL4CA&bvm=bv.89381419,d.cWc&psig=AFQjCNGNCQY1_dCN2RPLzxtap_Pu0omTXQ&ust=1427765484498432
POLYONE CORPORATION 22
2016 Revenue: $0.7 Billion
At a Glance: Performance Products & Solutions
2016 Revenue by Industry Expanding Profits
5.5%
6.9%
3.8%
3.6%
5.5%
4.3%
6.3%
7.2% 7.7%
8.3%
12-14%
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2020
Operating Income % of Sales
Platinum
Vision
11.1%
B & C
30%
Transportation
18%
W & C
16%
Industrial
16% Appliance
6%
Consumer
5%
Packaging
5%
E & E
3%
Healthcare
1%
United
States
78%
Canada
16%
Latin
America
4%
Asia
2%
Key Applications
POLYONE CORPORATION 23
2016 Revenue: $1.1 Billion
At a Glance: Distribution
Key Suppliers
ROIC Expanding Profits
2.6%
3.0%
3.5%
4.0%
4.6%
5.6%
6.4%
5.9% 6.1%
6.6%
6.5-7.5%
6.4%
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2020
Operating Income % of Sales
Platinum
Vision
15%
51%
2006 2016
Transportation
24%
Healthcare
22%
Industrial
18%
Consumer
15% Appliance
6%
E & E
5%
B & C
4%
Packaging
4%
W & C
2%
http://www.polyone.com/Pages/VariationRoot.aspx
24 POLYONE CORPORATION
Application Examples
POLYONE CORPORATION 25
Luxury Packaging
with Gravitech Density Modified Polymers
Impart weight, sound and
metallic finish to caps and
closures for cosmetics and
spirits applications
Elevate quality and prestige
perceptions among high-end
consumers
Eliminate time and cost
associated with secondary
operations and assembly
POLYONE CORPORATION 26
Eliminate costs by increasing
pigment density
Enhance color performance
without altering form and
formulation
Increase design capabilities by
reducing weight and layer
thickness
Optimize Color Usage
with OnColor Super Concentrates
POLYONE CORPORATION 27
Inhibit microbial growth on
polymer surface
Enhance value or products
and devices
Highly versatile concentrate
with the ability to be
incorporated into a wide
variety of products
Combat Bacteria Formation
with WithStand Antimicrobial Technology
POLYONE CORPORATION 28
Medical Device Housings
with Chemically Resistant Engineered Polymers
Durable, long-lasting
products stand up to the
most aggressive disinfectants
Minimize environmental
stress cracking and
discoloration
One of the broadest
medically approved polymer
and colorant portfolios
POLYONE CORPORATION 29
Color & Design Services
Greater control of color development
and supply chain
Work across entire design process
from concept to commercialization
Inspire creativity in the use of
polymer materials, colors
and effects
Innovative brand differentiation
Faster development timelines
POLYONE CORPORATION 30
Outdoor Applications
Leading provider of high performance
specialty materials for the recreational
and sports & leisure industry
Well positioned across all segments to
address market needs
Metal to Polymer Conversion
Lightweighting
Thermal Management
Impact Performance
Source: Outdoor Industry Association
POLYONE CORPORATION 31
Fiber Colorants
Solutions for clothing, apparel, footwear, automotive & sporting goods
ColorMatrix Fiber Colorant Solutions
Proprietary advanced liquid color
formulations and equipment enable
greater efficiency and productivity
Eliminates aqueous dyeing and its
associated wastewater treatment
Solid Color Concentrates
Extrusion-spun fibers colored via
solid masterbatch
POLYONE CORPORATION 32
High-Barrier Packaging Containers
Capability to extrude up to 13
layers
Strong oxygen and moisture vapor
transmission protection
Can be made symmetrical or
asymmetrical to meet customized
needs of broad variety of
applications
Barrier protection and superior
sensory properties
1
Reconciliation of Non-GAAP Financial Measures (Unaudited)
(Dollars in millions, except per share data)
Senior management uses comparisons of adjusted net income attributable to PolyOne common shareholders, adjusted earnings per share (EPS) attributable to PolyOne common
shareholders and operating income before special items to assess performance and allocate resources because senior management believes that these measures are useful in
understanding current profitability levels and that current levels may serve as a base for future performance.
https://www.avient.com/sites/default/files/2025-02/Avient Investor Presentation - February 2025_w_Non-GAAP.pdf
For
the same reasons, Avient is unable to address the probable significance of the unavailable information.
Moving up the value chain, and expanding
addressable market size by providing materials
solutions in select and prioritized areas
Copyright © .
https://www.avient.com/sites/default/files/resources/PolyOne%2520IR%2520Presentation%2520-%2520Goldman%2520Sachs%2520Conference%2520-%2520November%25202015.pdf
PolyOne Corporation Page 4
PolyOne Commodity to Specialty Transformation
• Volume driven,
commodity producer
• Heavily tied to
cyclical end markets
• Performance largely
dependent on non-
controlling joint
ventures
2000-2005 2006 - 2009 2010 – 2014 2015 and beyond
• Steve Newlin
appointed, Chairman,
President and CEO
• New leadership team
appointed
• Implementation of four
pillar strategy
• Focus on value based
selling, investment in
commercial resources
and innovation to drive
transformation
• Substantial EPS growth
from $0.13 to all-time
high of $1.80
• Shift to faster growing,
high margin, less
cyclical end markets
• Key acquisitions propel
current and future
growth, as well as
margin expansion
• Specialty mix expands
to 65% of Operating
Income – strongest mix
of earnings in history
• Accelerating growth
• Deliver consistent
double digit annual
EPS growth
• Maintain >35% vitality
index
• Pursue strategic
acquisitions that
expand specialty
offerings and
geographic breadth
• Invest and grow
current and next
generation talent
PolyOne Corporation Page 5
Appliances
5%
Building &
Construction
12%
Consumer
10%
Electrical &
Electronics
5%
Healthcare
11%
Industrial
14%
Packaging
14%
Transportation
20%
Wire & Cable
9%
Distribution
28%
PP&S
20%
Specialty
52%
United States
69%
Europe
13%
Canada
7% Asia
6%
Latin America
5%
2014 Revenues: $3.8 Billion
End Markets
2014 Revenues: $3.8 Billion
PolyOne
At A Glance
$0.12
$0.27 $0.21
$0.13
$0.68
$0.82
$1.00
$1.31
$1.80
2006 2007 2008 2009 2010 2011 2012 2013 2014
Adjusted EPS
PolyOne Corporation Page 6
Old
PolyOne
*Operating Income excludes corporate charges and special items
2%
34% 43%
62%
65% 66%
0%
20%
40%
60%
80%
100%
2005 2008 2010 2013 2014 YTD 2015 2020
%
o
f O
pe
ra
tin
g
In
co
m
e*
JV's Performance Products & Solutions Distribution Specialty
80%+
Specialty OI $5M $46M $87M $195M $242M $183M
Mix Shift Highlights Specialty Transformation
Transformation
2020
Platinum
Vision
Platinum
Vision
PolyOne Corporation Page 7
2006 YTD 2015 2020
“Where we were” “Where we are” Platinum Vision
1) Operating Income %
Specialty:
Global Color, Additives & Inks 1.7% 17.2% 20%+
Global Specialty Engineered
Materials 1.1% 15.1% 20%+
Designed Structures & Solutions 1.4% (2012) 3.5% 12 – 14%
Performance Products &
Solutions 5.5% 8.1% 10 – 12%
Distribution 2.6% 6.6% 6.5 – 7.5%
2) Specialty Platform % of
Operating Income 6.0% 66% 80%+
3) ROIC 5.0% 11.9% 15%
4) Adjusted EPS Growth N/A
24 Consecutive
Quarters of YOY
EPS Growth
Double Digit
Expansion
Proof of Performance & 2020 Goals
PolyOne Corporation Page 8
Innovation Drives Earnings Growth
*Percentage of Specialty Platform revenue from products introduced in last five years
$20
$52
2006 TTM
Research & Development
Spending
($ millions)
Specialty Platform
Vitality Index Progression*
14%
28%
2006 TTM
Specialty Platform
Gross Margin %
12%
43%
2006 TTM
Specialty Vitality Index Target ≥ 35%
TTM 9/30/15 TTM 9/30/15 TTM 9/30/15
PolyOne Corporation Page 9
Innovation Pipeline Potential
Prototype Frame
Opportunity
Scale-up & Test
Market
Build
Business Case
Commercial
Launch
Phase 1 Phase 2 Phase 3 Phase 4 Phase 5
12
4
9
6
1
6
3 7 4
5
6
1
1
7
2
Breakthrough
Platform
Derivative
Number of Projects 12 10 23 19 10 74
Specialty
Addressable Market
($ millions)
- - $1,150 $1,000 $250 $2,400
PolyOne Corporation Page 10
Lightweighting with Advanced Composites
Increasing Healthcare Penetration
Innovation Initiatives
Expansion in Consumer Markets
New Market Development
$$$ $$ $
High Temperature Polymers
PolyOne Corporation Page 11
Design and Service as a Differentiator
Right Material &
Color
Desired
Product Design
Appropriate
Manufacturing Process
Delivering Concept to
Commercialization
Connecting
the Dots with
iQ Design Labs and
InVisiO Color Design
PolyOne Corporation Page 12
Customer First Through World-Class Service
Strengthening relationships through:
Providing LSS services to small/medium sized customers
• Supporting customers who lack their own formal process improvement initiatives
Providing training in Customer Centric Selling Skills with customers’
sales force
PolyOne Corporation Page 13
60%
97%
20%
30%
40%
50%
60%
70%
80%
90%
100%
2008 Q3 2015
Pension Funding**
As of September 30, 2015
Debt Maturities & Pension Funding
Net Debt / Adjusted EBITDA** = 2.1x
$49
$121
$317
$600
$400
$0
$100
$200
$300
$400
$500
$600
$700
$800
2015 2018 2020 2023
Debt Maturities
As of September 30, 2015
($ millions)
Coupon Rate: 7.500% Variable* 7.375% 5.250%
** includes US-qualified pension plans only *Weighted average rate on revolver was 2.49% as of 9/30/15 **TTM 9/30/2015
PolyOne Corporation Page 14
Free Cash Flow and Strong Balance Sheet
Fund Investment / Shareholder Return
Expanding our sales,
marketing, and
technical capabilities
Investing in operational
and LSS initiatives
~75% of capital
expenditures fund
growth initiatives Organic
Growth
Acquisitions
Share
Repurchases
Dividends
$0.16
$0.20
$0.32
$0.40
$0.48
$0.10
$0.20
$0.30
$0.40
$0.50
2011 2012 2013 2014 2015 2016
Annual Dividend
Targets that expand
our:
• Specialty offerings
• End market
presence
• Geographic breadth
Synergy opportunities
Adjacent material
solutions
Repurchased nearly
2.4 million shares in Q3
2015
Repurchased 14.8
million shares since
early 2013
5.2 million shares are
available for
repurchase under the
current authorization
$0.24
PolyOne Corporation Page 15
The New PolyOne: A Specialty Growth Company
Why Invest In PolyOne?
Addressable market exceeds $40 billion
Strong performance demonstrates that our strategy and execution
are working
Megatrends and emerging opportunities align with our strengths
Innovation and services provide differentiation, incremental pricing
power, and competitive advantage
Strong and proven management team driving growth and
performance
PolyOne Corporation Page 16
Appendix
PolyOne Corporation Page 17
$0.20
$0.28
$0.36
$0.49
$0.54
$0.00
$0.15
$0.30
$0.45
$0.60
Q3'11 Q3'12 Q3'13 Q3'14 Q3'15
Adjusted EPS
Q3 2015 Financial Highlights
Color Additives & Inks operating
margin reaches record third quarter
level of 17.3%
Specialty Engineered Materials
operating margin grew 210 basis
points year-over-year to 14.7%
Third quarter adjusted EPS has
grown on average 28% per year
since 2011
$13
$19
$29 $30
$35
$0
$10
$20
$30
$40
Q3'11 Q3'12 Q3'13 Q3'14 Q3'15
GCAI Operating Profit
$11
$13
$15
$18
$20
$10
$14
$18
$22
Q3'11 Q3'12 Q3'13 Q3'14 Q3'15
GSEM Operating Profit
Note: $ in millions, except per share data
PolyOne Corporation Page 18
Appliances
2%
Building &
Construction
12%
Consumer
7%
Electrical &
Electronics
1%
Healthcare
6%
Industrial
14%
Packaging
31% Textiles
7%
Transportation
8%
Wire & Cable
12% 1.7%
4.6% 5.1%
5.5%
7.2% 8.1%
9.7%
12.2%
17.2%
20%+
2006 2007 2008 2009 2010 2011 2012 2013 2014 YTD
2015
2020
Operating Income % of Sales
At a Glance
Global Color, Additives and Inks
2014 Revenues: $0.9 Billion Solutions
Expanding Profits 2014 Revenue by Industry Segment
14.7%
Platinum
Vision
United States
44%
Europe
36%
Canada
2%
Asia
12%
Latin America
6%
PolyOne Corporation Page 19
Appliances
4% Building &
Construction
3%
Consumer
18%
Electrical &
Electronics
16%
Healthcare
12%
Industrial
8%
Packaging
5%
Transportation
20%
Wire & Cable
12%
At a Glance
Global Specialty Engineered Materials
2014 Revenues: $0.6 Billion Solutions
2014 Revenue by Industry Segment Expanding Profits
1.1% 1.3%
3.4%
5.1%
9.6%
8.0% 8.6%
9.3%
15.1%
20%+
2006 2007 2008 2009 2010 2011 2012 2013 2014 YTD
2015
2020
Operating Income % of Sales
Platinum
Vision
12.1%
United States
44%
Europe
33%
Canada
2%
Asia
19%
Latin America
2%
PolyOne Corporation Page 20
Appliances
2% Building &
Construction
8%
Consumer
5%
Healthcare
6%
Industrial
23%
Packaging
27%
Transportation
30%
United States
96%
Canada
4%
At a Glance
Designed Structures and Solutions
Solutions 2014 Revenues: $0.6 Billion
Expanding Profits 2014 Revenue by Industry Segment
1.4%
5.6%
7.3%
3.5%
12-14%
2012 2013 2014 YTD 2015 2020
Operating Income % of Sales
Platinum
Vision
PolyOne Corporation Page 21
Appliances
8%
Building &
Construction
33%
Consumer
5% Electrical &
Electronics
3%
Healthcare
1%
Industrial
11%
Packaging
5%
Transportation
18%
Wire & Cable
16%
5.5%
6.9%
3.8%
3.6%
5.5%
4.3%
6.3%
7.2%
8.1%
2006 2007 2008 2009 2010 2011 2012 2013 2014 YTD
2015
2020
Operating Income % of Sales
At a Glance
Performance Products and Solutions
Solutions
Expanding Profits
2014 Revenues: $0.8 Billion
10-12%
Platinum
Vision
2014 Revenue by Industry Segment
7.7%
United States
80%
Canada
14%
Asia
2%
Latin America
4%
PolyOne Corporation Page 22
Appliances
6%
Building &
Construction
5%
Consumer
13%
Electrical &
Electronics
6%
Healthcare
23%
Industrial
15%
Packaging
4%
Transportation
25%
Wire & Cable
3%
2.6%
3.0%
3.5%
4.0%
4.6%
5.6%
6.4% 5.9%
6.6% 6.5-7.5%
2006 2007 2008 2009 2010 2011 2012 2013 2014 YTD
2015
2020
Operating Income % of Sales
15%
52%
2006 Q3 2015
At a Glance
Distribution
Key Suppliers 2014 Revenues: $1.1 Billion
ROIC Expanding Profits
6.1%
Platinum
Vision
http://www.polyone.com/Pages/VariationRoot.aspx
PolyOne Corporation Page 23
2 lbs Plastic
=
3 lbs aluminum
or
8 lbs steel
or
27 lbs glass
33% less material by weight
than aluminum
75% less material by weight
than steel
93% less material by weight
than glass
Requires 91% less energy to
recycle a pound of plastic versus
a pound of paper
Source: SPI: Sustainability and the Plastics Industry
Plastics: Key to Future Sustainable Development
PolyOne Corporation Page 24
Commitment to Operational Excellence
81%
93%
2006 2014
16.2%
9.9%
2006 2014
On-Time Delivery
Working Capital % of Sales
5%
43%
2006 2014
Percent of Associates Trained in LSS
Five consecutive years – CFO Magazine
Best Working Capital Management in the
chemical industry
World’s Best Business
Process Excellence
Program in 2012*
113 trained Black Belts
235 trained Green Belts
151 trained Kaizen Leaders
World’s Best Start-up
Program for Lean Six Sigma
Deployment in 2009*
*Both awards received from International Quality and Productivity Center
PolyOne Corporation Page 25
Application Examples
PolyOne Corporation Page 26
Outdoor Applications
• Leading provider of high performance
specialty materials for the recreational
and sports & leisure industry
• Well positioned across all segments to
address market needs
Metal to Polymer Conversion
Lightweighting
Thermal Management
Impact Performance
Source: Outdoor Industry Association
PolyOne Corporation Page 27
$1.5 billion attractive, growing market
Additives improve performance and reduce cost
through light-weighting, reduced waste, faster
cycle times, and extended shelf life of finished
product
Aligned with megatrend of protecting the
environment:
Sustainability benefits include lower
package weight and improved recyclability
of package at end of use
Market Opportunity
Leading Global Supplier of Additives In Growing PET Market
Shelf-life extension
Greater product
consistency
Recyclability and
reduced carbon
footprint
Color and Special
Effects
Weight reduction
Enhanced product
aesthetics
High heat resistance
PET Bottling Technology
0.0
10.0
20.0
30.0
40.0
50.0
60.0
70.0
2009 2014 2019
Asia Pacific North America
Latin America Western Europe
Eastern Europe Middle East and Africa
Global PET Packaging Growth 2009-2019
Source: Euromonitor retail off-trade consumption (PET bottles & jars, home care, personal care,
food & non-alcoholic beverages)
B
ill
io
n
un
its
5% CAGR
PolyOne Corporation Page 28
• Includes formulation and
consultative services to assist
manufacturers and brand owners in
positively identifying their finished
goods
• Protects brand equity & consumer
welfare
• Reduces exposure to unwarranted
recall expenses
• Secures supply chain integrity –
support for safe expansion into new
geographies
Authentication Technology
PolyOne Corporation Page 29
• Color harmonization across
15 unique color-and-polymer
combinations
• Eliminated need for multiple pre-
colored materials
• Reduced Land Rover’s working
capital
2015 Range Rover Evoque Interior
PolyOne Corporation Page 30
• Reduced health and
environmental impact
• System cost reduction
• Radiation-shielding
performance
• Parts consolidation
• Design freedom
CT Scanner
PolyOne Corporation Page 31
Metal Replacement Solutions
• Replaces metal in LED lighting
• Extends LED durability and life
span eliminating hot spots
• Greater design flexibility with
fewer parts
• Weight reduction
• Simplifies manufacturing and
lowers total production cost
PolyOne Corporation Page 32
High-Barrier Packaging Containers
• Capability to extrude up to 13
layers
• Strong oxygen and moisture
vapor transmission protection
• Can be made symmetrical or
asymmetrical to meet
customized needs of broad
variety of applications
• Barrier protection and superior
sensory properties
PolyOne Corporation Page 33
Aerospace Applications
• Leading provider of specialty materials
for the aerospace industry
• Typical applications
Mil-spec aircraft windows, canopies,
windscreens, instrument panels,
wingtip lenses
Interior – gallery furnishings, tray
tables, arm rests, trim strips, joint/edge
coverings
• Benefits:
High impact strength
Resistant to UV rays
Flame and smoke compliance
Easy to clean with aggressive cleaners;
anti-microbial grades available
Range of sizes, thicknesses, colors, etc.
1
Reconciliation of Non-GAAP Financial Measures (Unaudited)
(Dollars in millions, except per share data)
Below is a reconciliation of non-GAAP financial measures to the most directly comparable measures calculated and presented in
accordance with U.S.
https://www.avient.com/sites/default/files/2023-08/EVSE Platform Brochure.pdf
At Avient, we have solutions that can help address
these challenges.
https://www.avient.com/sites/default/files/2022-08/ColorMatrix Excelite Product Bulletin.pdf
Custom products are designed to address the specific needs of customer processes.
https://www.avient.com/sites/default/files/2020-10/auto-injector-application-study.pdf
Our engineered polymers will address
a vast array of property requirements
https://www.avient.com/sites/default/files/2020-11/outdoor-industry-overview-brochure.pdf
Polymers offer many more
design options than metal, so you can upgrade
design geometry to better address your customer’s
comfort and ergonomic needs.
https://www.avient.com/sites/default/files/2021-04/additives-listing.pdf
Additives & Colorants for PET
This interactive list provides you with examples of polymer additives and
colorants that are suitable for PET resins, and can address the challenges you
face in achieving overall sustainability of your products.
https://www.avient.com/sites/default/files/2025-03/ColorMatrix SmartHeat RHC Brochure.pdf
Over time, as the level of SmartHeat
RHC in the recycle stream begins to rise, the overall quality of rPET is improved, contributing towards increased
levels of rPET content in PET bottles by addressing the root cause, rather than masking the issue.