https://www.avient.com/news/polyone-announces-25-increase-quarterly-dividend
Global Color, Additives and Inks
66%
https://www.avient.com/sites/default/files/2024-05/AVNT Q1 2024 Earnings Presentation_For_Website_w_non-GAAP_5_6_1.pdf
For the same reasons, Avient is unable to address the probable significance of the unavailable information.
2
O P E N I N G R E M A R K S
4
REGIONAL DEMAND TRENDS-TOTAL COMPANY
Q 1 S A L E S V S P Y ( E X C L U D I N G F X )
4
US & Canada
Latin America
EMEA
Asia
+2%
-6%
Flat
+2%
Avient ex.
Q1 2023
( T O TA L C O M PA N Y )
$846 $829
Q1 23 Q1 24
$134
$143
Q1 23 Q1 24
17.3%
Sales Adjusted EBITDA
(in millions)
$0.63
$0.76
Q1 23 Q1 24
Adjusted EPS
(in millions)
+ 7% + 21%
Sales Adjusted EBITDA Adjusted EPS
6
- 2%
15.8%
+150 bps
*
*
* Adjusted EBITDA Margin %
Q1 2024 SEGMENT PERFORMANCE
( C O L O R S , A D D I T I V E S & I N K S )
$537
$515
Q1 23 Q1 24
$91
$97
Q1 23 Q1 24
18.8%
Sales Adjusted EBITDA
(in millions) (in millions)
+ 7%
Sales Adjusted EBITDA
7
- 4%
17.0%
+180 bps
*
*
* Adjusted EBITDA Margin %
• Year over year demand
continues to improve for the
segment but slowly due to
continued weakness in Europe
• Raw material deflation & cost
reduction actions primary drivers
of adjusted EBITDA growth and
margin expansion of +180 bps vs
Q1 2023
Q1 2024 SEGMENT PERFORMANCE
( 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 )
$310
$314
Q1 23 Q1 24
$64
$73
Q1 23 Q1 24
23.2%
Sales Adjusted EBITDA
(in millions) (in millions)
+ 14%
Sales Adjusted EBITDA
8
+ 1%
20.8%
+240 bps
*
*
* Adjusted EBITDA Margin %
• Sales growth in defense end
market offset by weaker
demand in telecommunications
end market
• Raw material deflation and
favorable mix impact from
defense sales primary drivers
of adjusted EBITDA growth and
margin expansion of +240 bps
vs Q1 2023
Q1 EBITDA BRIDGE
( T O TA L C O M PA N Y )
9
$ millions
CAI:
Price / Mix (1)
Deflation 16
SEM:
Price / Mix 4
Deflation 7
Net Price Benefit 26
Wage/Other Inflation (9)
FX (2)
Q1 2024 $143
Adjusted
EBITDA
Q1 2023 $ 134
Demand (6)
• Positive net price benefit:
o Favorable raw material
deflation in both segments
• Wage and other inflation more than
offset cost reductions/synergies
2 0 2 4 G U I D A N C E
FY 2024 GUIDANCE
Original Revised
Adjusted EBITDA $505 to $535 million $510 to $535 million
Adjusted EPS $2.40 to $2.65 $2.50 to $2.65
Interest Expense $105 to $110 million $105 million
Adjusted Effective Tax Rate 23% to 25% 23% to 25%
Capital Expenditures ~$140 million ~$140 million
11
Q2 2024: Adjusted EPS of $0.71
C E O “ T O P O F M I N D ”
F O C U S A R E A S
AREAS OF FOCUS
13
+7%
Drive Profitable Organic
Top-Line Growth with
Margin Expansion
Amplify Innovation Build Leadership & Talent
Pipeline
A P P E N D I X
16
Performance
Additives
15%
Pigments
13%
TiO2
9%
Dyestuffs
2%
Polyethylene
10%Nylon
5%
Polypropylene
4%
Styrenic Block
Copolymer
4%
Other Raw
Materials
38%
~40% hydrocarbon based
(Grey shaded materials are hydrocarbon based,
includes portion of “Other Raw Materials”)
Non-hydrocarbon
based materials
RA W MATERIAL BASKET
SEGMENT DATA
U.S. & Canada
41%
EMEA
36%
Asia
18%
Latin America
5%
2023 SEGMENT, END MARKET AND GEOGRAPHY
GEOGRAPHY REVENUESEGMENT FINANCIALS
Consumer
19%
Packaging
23%Industrial
16%
Building and
Construction
9%
Telecommunications
4%
Energy
5%
Defense
7%
END MARKET REVENUE
$2,007M $358M
$1,138M $224M
Sales EBITDA
Specialty Engineered Materials
Color Additives and Inks
$502M$3,143M
(1)
Transportation
10%
Healthcare
7%
18
(1) Total company sales and adjusted EBITDA of $3,143M and $502M, respectively, include intercompany sales eliminations and corporate costs
2 0 2 3 R E V E N U E | $ 2 . 0 B I L L I O N
US & Canada
34%
EMEA
37%
Asia
21%
Latin America
8%
END MARKET REGION
19
Packaging
34%
Consumer
21%
Healthcare
8%
Industrial
15%
Transportation
9%
Building &
Construction
10%
Telecommunications
1% Energy
2%
COLOR, ADDITIVES & INKS
2 0 2 3 R E V E N U E | $ 1 . 1 B I L L I O N
US & Canada
52%
EMEA
35%
Asia
13%
20
Packaging
5%
Consumer
16%
Healthcare
6%Industrial
16%
Transportation
12%
Telecommunications
9%
Energy
10% Defense
18%
Building &
Construction
8%
END MARKET REGION
SPECIALTY ENGINEERED MATERIALS
Packaging
32%
Consumer
26%
Healthcare
9%
Industrial
13%
Building &
Construction
6%
Telecommunications
2%
Energy
2% Defense
1%
Asia
(18% of sales)
Transportation
9%
2 0 2 3 AV I E N T R E G I O N A L S A L E S
Packaging
25%
Consumer
13%
Healthcare
5%
Industrial
18%
Building &
Construction
9%
Energy
5%
Defense
8%
EMEA
(36% of sales)Transportation
13%
Packaging
13%
Consumer
22%
Healthcare
10%
Industrial
16%
Building &
Construction
12%
Energy
6%
Defense
8%
US &
Canada
(41% of sales)
Transportation
9%
Packaging
59%
Consumer
22%
Healthcare
2%
Industrial
8%
Building &
Construction
4%
LATAM
(5% of sales)
Transportation
5%
Telecommunications
4%
Telecommunications
4%
21
B Y E N D M A R K E T
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.
Three Months Ended
March 31,
2024 2023
Reconciliation to Condensed Consolidated Statements of Income $ EPS $ EPS
Net income from continuing operations attributable to Avient shareholders $ 49.4 $ 0.54 $ 20.8 $ 0.23
Special items, after-tax 5.5 0.06 22.3 0.24
Amortization expense, after-tax 14.9 0.16 15.1 0.16
Adjusted net income / EPS $ 69.8 $ 0.76 $ 58.2 $ 0.63
Three Months Ended
March 31,
Reconciliation to EBITDA and Adjusted EBITDA: 2024 2023
Net income from continuing operations – GAAP $ 49.7 $ 21.3
Income tax expense 16.8 7.7
Interest expense, net 26.6 28.8
Depreciation and amortization 44.3 50.5
EBITDA from continuing operations 137.4 108.3
Special items, before tax 6.2 27.3
Depreciation and amortization included in special items (0.5) (1.8)
Adjusted EBITDA $ 143.1 $ 133.8
Adjusted EBITDA as a percent of sales 17.3 % 15.8 %
1
Three Months Ended
March 31,
2024 2023
Sales:
Color, Additives and Inks $ 515.3 $ 537.0
Specialty Engineered Materials 314.4 309.7
Corporate (0.7) (1.0)
Sales $ 829.0 $ 845.7
Operating income:
Color, Additives and Inks $ 74.8 $ 65.6
Specialty Engineered Materials 53.4 43.1
Corporate (34.2) (51.6)
Operating income $ 94.0 $ 57.1
Depreciation & amortization:
Color, Additives and Inks $ 21.9 $ 25.8
Specialty Engineered Materials 19.6 21.2
Corporate 2.8 3.5
Depreciation & amortization $ 44.3 $ 50.5
Earnings before interest, taxes, depreciation and amortization (EBITDA):
Color, Additives and Inks $ 96.7 $ 91.4
Specialty Engineered Materials 73.0 64.3
Corporate (31.4) (48.1)
Other (expense) income, net (0.9) 0.7
EBITDA from continuing operations 137.4 108.3
Special items, before tax 6.2 27.3
Depreciation and amortization included in special items (0.5) (1.8)
Adjusted EBITDA $ 143.1 $ 133.8
Adjusted EBITDA as a percent of sales:
Color, Additives and Inks 18.8 % 17.0 %
Specialty Engineered Materials 23.2 % 20.8 %
2
Year Ended
December 31, 2023
Sales:
Color, Additives and Inks $ 2,007.4
Specialty Engineered Materials 1,138.2
Corporate (2.8)
Sales $ 3,142.8
Operating income:
Color, Additives and Inks $ 259.9
Specialty Engineered Materials 142.5
Corporate (205.6)
Operating income $ 196.8
Depreciation & amortization:
Color, Additives and Inks $ 98.3
Specialty Engineered Materials 81.5
Corporate 9.0
Depreciation & amortization $ 188.8
Earnings before interest, taxes, depreciation and amortization (EBITDA):
Color, Additives and Inks $ 358.2
Specialty Engineered Materials 224.0
Corporate (196.6)
Other income, net 5.8
EBITDA from continuing operations 391.4
Special items, before tax 114.6
Interest expense included in special items (2.3)
Depreciation and amortization included in special items (1.9)
Adjusted EBITDA $ 501.8
3
AVNT Q1 2024 Earnings Presentation_For_Website_w_non-GAAP.pdf
Avient corporation�first quarter 2024 results and 2024 financial guidance
DISCLAIMER
Slide Number 3
Regional demand trends-total company�Q1 Sales vs PY (Excluding FX)
Slide Number 5
Slide Number 6
Slide Number 7
Slide Number 8
Slide Number 9
Slide Number 10
Slide Number 11
Slide Number 12
Slide Number 13
Slide Number 14
Slide Number 15
Slide Number 16
Slide Number 17
2023 segment, end market and Geography
Color, Additives & Inks
Specialty Engineered Materials
Slide Number 21
IR Deck - AVNT-2024.03.31 5.06 11AM v2 (002).pdf
Attachment
https://www.avient.com/sites/default/files/2024-03/AVNT February IR Presentation_w_Non-GAAP Recs_v2.pdf
&
Canada
EMEA
Asia
Latin America
64%
36%
Specialty
Engineered
Materials
Color
Additives
and Inks
41%
36%
18%
5%
7%
7%
23%
19%
9%
16%
10% 5% 4%
Defense
Healthcare
Packaging
Consumer
Building &
Construction
Industrial
Transportation
Energy Telecom
Geography
Segment
Industry
4
CRE AT ING A WORL D-CL AS S
S US TAINABL E ORGANIZ AT ION
1. 6% annualized long term sales
growth leveraging sustainable
solutions, composites, healthcare
and emerging regions
2.
AS HIS H KHANDP UR
P R E S I D E N T & C E O
7
8
PORTFOLIO TRANSFORMATION
8
7%
46%
66%
87%
100%
0%
20%
40%
60%
80%
100%
2005 2010 2015 2020 2023
%
o
f A
dj
us
te
d
E
B
IT
D
A
Commodity JVs Distribution Performance Products & Solutions Specialty Businesses
Adjusted EBITDA from Specialty Applications
SUSTAINABILITY AS A GROWTH DRIVER
9
LONG-TERM REVENUE GROWTH DRIVERS
Sustainable
Solutions
Composites, Healthcare,
Asia / LATAM
Overlap
Other
60%+
Key Growth
Drivers
Total Company Revenue
Growth Drivers Long-Term Growth Rate
Sustainable Solutions 8–12%
Composites 8–10%
Healthcare 8–10%
Asia / LATAM 5%
Other 0–2%
Avient 6%
END MARKET OBSERVATIONS
( % O F C O M PA N Y S A L E S )
ENERGY
5%
DEFENSE
7%
TELECOMMUNICATIONS
4%
HEALTHCARE
7%
10
TRANSPORTATION
10%
INDUSTRIAL
16%
BUILDING &
CONSTRUCTION 9%
CONSUMER
19%
PACKAGING
23%
11
REGIONAL OBSERVATIONS
( % O F C O M PA N Y S A L E S )
11
US & Canada
Latin America
EMEA
Asia
41%
36%
18%
5%
Q 4 2 0 2 3 R E S U L T S
Q4 2023 PERFORMANCE VS.
Free Cash Flow Calculation December 31, 2023
Cash provided by operating activities $ 201.6
Taxes paid on gain on sale of business 104.1
Adjusted cash provided by operating activities $ 305.7
Capital expenditures $ (119.4)
Free cash flow $ 186.3
2
Three Months Ended
December 31,
Year Ended
December 31,
2023 2022 2023 2022
Sales:
Color, Additives and Inks $ 459.4 $ 490.8 $ 2,007.4 $ 2,355.0
Specialty Engineered Materials 259.8 300.8 1,138.2 1,044.4
Corporate (0.2) (1.2) (2.8) (2.5)
Sales $ 719.0 $ 790.4 $ 3,142.8 $ 3,396.9
Operating income:
Color, Additives and Inks $ 61.8 $ 44.3 $ 259.9 $ 301.0
Specialty Engineered Materials 29.4 35.2 142.5 140.1
Corporate (48.1) (79.1) (205.6) (197.8)
Operating income $ 43.1 $ 0.4 $ 196.8 $ 243.3
Other expense, net: $ 4.3 $ (28.4) $ 5.8 $ (59.7)
Depreciation & amortization:
Color, Additives and Inks $ 22.2 $ 25.2 $ 98.3 $ 101.3
Specialty Engineered Materials 19.8 20.3 81.5 48.7
Corporate 2.2 3.1 9.0 12.5
Depreciation & amortization $ 44.2 $ 48.6 $ 188.8 $ 162.5
Earnings before interest, taxes, depreciation and amortization (EBITDA):
Color, Additives and Inks $ 84.0 $ 69.5 $ 358.2 $ 402.3
Specialty Engineered Materials 49.2 55.5 224.0 188.8
Corporate (45.9) (76.0) (196.6) (185.3)
Other expense, net $ 4.3 $ (28.4) $ 5.8 $ (59.7)
EBITDA $ 91.6 $ 20.6 $ 391.4 $ 346.1
Special items in EBITDA 22.3 86.8 110.4 162.5
EBITDA - excluding special items $ 113.9 $ 107.4 $ 501.8 $ 508.6
APM pro forma adjustments - 8 months 2022* — — — 83.1
Pro forma EBITDA $ 113.9 $ 107.4 $ 501.8 $ 591.7
* Pro forma adjustment for January - August 2022 APM results (period before Avient ownership).
3
AVNT February IR Presentation_w_Non-GAAP Recs.pdf
AVNT February IR Presentation.pdf
Avient corporation�investor presentation
DISCLAIMER
Slide Number 3
Creating a world-class�sustainable organization
Top-tier sustainability performance�and recognition
Slide Number 6
Slide Number 7
Portfolio transformation
Slide Number 9
END MARKET observations�(% of company sales)
Regional observations�(% of company sales)
Slide Number 12
Slide Number 13
Slide Number 14
Slide Number 15
Slide Number 16
Slide Number 17
Slide Number 18
Slide Number 19
Slide Number 20
Slide Number 21
Slide Number 22
2023 segment, end market and Geography
Color, Additives & Inks
Specialty Engineered Materials
Slide Number 26
AVNT Q4 2023 Earnings Presentation.pdf
AVNT Q4 2023 Earnings Presentation_For Website_with Non-GAAP.pdf
IR Deck - AVNT-2023.12.31 (2.12.24 9PM Milestone February 12 0905 pm).pdf
Attachment
3.26.24 - Public Lender Presentation Non-GAAP Attachments (005).pdf
https://www.avient.com/sites/default/files/resources/PolyOne%2520Investor%2520Presentation%2520Longbow%2520Basic%2520Materials%2520Conference%2520-%2520March%25202016.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 – 2015 2016 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 $1.96
• 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
• 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
25 Consecutive Quarters of EPS Growth
Note: 2009 has not been restated for subsequent changes in accounting principles or discontinued operations
-$0.10
$0.00
$0.10
$0.20
$0.30
$0.40
$0.50
$0.60
2009 2010 2011 2012 2013 2014 2015
Adjusted Earnings Per Share
-2%
0%
2%
4%
6%
8%
10%
12%
2009 2010 2011 2012 2013 2014 2015
Adjusted Consolidated Operating Margin
2.8%
5.2% 5.6%
6.7%
8.3%
6.9%
9.5%
PolyOne Corporation Page 6
2015 Revenues: $3.4 Billion
End Markets
2015 Revenues: $3.4 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 2015
Adjusted EPS
United States
66%
Europe
13%
Canada
7%
Asia
7%
Latin America
7%
Appliances
4%
Building &
Construction
12%
Consumer
10%Electrical &
Electronics
5%
Healthcare
11%
Industrial
14%
Packaging
13%
Textiles
2%
Transportation
20%
Wire & Cable
9%
Distribution
29%
PP&S
20%
Specialty
51%
$1.96
PolyOne Corporation Page 7
Old
PolyOne
*Operating Income excludes corporate charges and special items
2%
43%
65%
0%
20%
40%
60%
80%
100%
2005 2010 2015 2020
%
o
f O
pe
ra
tin
g
In
co
m
e*
JV's Performance Products & Solutions Distribution Specialty
80%+
Specialty OI $5M $87M $229M
Mix Shift Highlights Specialty Transformation
Transformation
2020
Platinum
Vision
Platinum
Vision
PolyOne Corporation Page 8
Color and Engineered Materials at the
Heart of Specialty Transformation
OPERATING MARGIN
1.7%
4.6% 5.1%
5.5%
7.2%
8.1%
9.7%
12.2%
14.7%
16.7%
20%+
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2020
Platinum
Vision
COLOR, ADDITIVES
AND INKS
1.1% 1.3%
3.4%
5.1%
9.6%
8.0%
8.6%
9.3%
12.1%
14.7%
20%+
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2020
Platinum
Vision
SPECIALTY
ENGINEERED MATERIALS
PolyOne Corporation Page 9
2006 2015 2020
“Where we were” “Where we are” Platinum Vision
1) Operating Income %
Specialty:
Color, Additives & Inks 1.7% 16.7% 20%+
Specialty Engineered Materials 1.1% 14.7% 20%+
Designed Structures & Solutions 1.4% (2012) 3.0% 12 – 14%
Performance Products &
Solutions 5.5% 8.3% 10 – 12%
Distribution 2.6% 6.6% 6.5 – 7.5%
2) Specialty Platform % of
Operating Income 6.0% 65% 80%+
3) ROIC* 5.0% 11.8% 15%
4) Adjusted EPS Growth N/A
25 Consecutive
Quarters of YOY
EPS Growth
Double Digit
Expansion
Proof of Performance & 2020 Goals
*ROIC is defined as TTM adjusted OI divided by the sum of average debt and equity over a 5 quarter period
PolyOne Corporation Page 10
Therma-Tech™ & Sheet
GEON™ Vinyl
Polymer Colorants Therma-Tech™
TPE’s & Film
TPE + OnForce™
Gravi-Tech™
Page 10
Film
Target End Markets… Healthcare
PolyOne Corporation Page 11
TPE + OnForce
(SEM)
OnForce
(SEM)
Glasforms
(SEM)
TPE Vibration Dampening
(SEM/GLS)
TPE & Film
(SEM + DSS)
Glasforms
(SEM)
Polymer Colorants
(CAI)
Thermatech
(SEM)
Thermoplastic Elastomers
(SEM)
TPE + OnForce
(SEM)
OnForce
(SEM)
Thermoplastic Elastomers
(SEM)
Glasforms
(SEM)
Polymer Colorants
(CAI)
Sheet
(DSS)
Source: Outdoor Industry Association
Target End Markets… Outdoor High Performance
PolyOne Corporation Page 12
Sound & Vibration
Management
Fuel Handling
Systems
Interior & Exterior Trim
Structural Braces
& Brackets
Interior Structural
Components
Lighting
Air management
Electronics & Cameras
Fluid Handling
Target End Markets… Automotive
Underhood
Components
Roof Systems
PolyOne Corporation Page 13
Target End Markets… Packaging
PreservaPak™
OnColor™
Smart Batch™
VersaFlex™
TPE Cap Liner
ColorMatrix™
Amosorb™
Oxygen Scavenger
ColorMatrix™
Ultimate™ UV
Light Barrier
OnCap™
Laser Marking
Additives
PolyOne Corporation Page 14
Innovation Drives Earnings Growth
*Specialty Platform revenue from products introduced in last five years
$20
$53
2006 2015
Research & Development
Spending
($ millions)
Specialty Platform
Vitality Index Progression*
14%
28%
2006 2015
Specialty Platform
Gross Margin
12%
43%
2006 2015
Target ≥ 35%
Innovation Pipeline Potential
PolyOne Corporation Page 15
2,883
2,414
2006 2015
Volume
(lbs in millions)
-16%
$103
$192
2006 2015
Commercial, R&D
and Marketing
Spending ($M)
+86%
$303
$721
2006 2015
Adjusted
Gross Margin ($M)
+138%
Investing to Drive Growth
Ours Is Not a Cost Cutting Story
PolyOne Corporation Page 16
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 17
Customer First Through World-Class Service
Strengthening relationships through:
Providing LSS services to small/medium sized customers
Providing training in Customer Centric Selling Skills with customers
World’s Best Business
Process Excellence
Program in 2012*
World’s Best Start-up
program for Lean Six Sigma
Deployment in 2009*
81%
93%
2006 2015
16.2%
9.7%
2006 2015
On-Time Delivery
Working Capital % of Sales
52% of associates trained in LSS
Five consecutive years – CFO Magazine Best Working
Capital Management in the chemical industry
Commitment to Operational Excellence
PolyOne Corporation Page 18
60%
97%
20%
30%
40%
50%
60%
70%
80%
90%
100%
2008 Q4 2015
Pension Funding**
As of December 31, 2015
Debt Maturities & Pension Funding
Net Debt / Adjusted EBITDA*= 2.1x
** includes US-qualified pension plans only *TTM 12/31/2015
$550
$600
$200
$300
$400
$500
$600
$700
$800
2022 2023
Debt Maturities
As of December 31, 2015
($ millions)
Coupon Rate: 3.750% 5.250%
PolyOne Corporation Page 19
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
1.0 million shares in
Q4 2015
Repurchased 15.8
million shares since
early 2013
4.2 million shares are
available for
repurchase under the
current authorization
$0.24
PolyOne Corporation Page 20
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 21
Appendix
PolyOne Corporation Page 22
Recent Acquisitions
Kraton TPE Assets Magenta Master Fibers
February 2016 – Acquired Kraton’s thermoplastic
elastomer (TPE) assets
Serve personal care, medical, packaging (protective
film) and electronics applications
Purchase price of $72 million represents a multiple
of 9x EBITDA
Adds $35 million in annual revenue and $0.03
accretive to 2016 adjusted EPS
Expands GLS presence in consumer, healthcare,
transportation, and packaging end markets
December 2015 – Acquired Magenta Master Fibers,
an innovative developer of specialty color
concentrates for the global fiber industry
Purchase price of $22 million represents a multiple
of 6.8x EBITDA
Adds $16 million in annual revenue and $0.01
accretive to 2016 adjusted EPS
Broadens portfolio of colorant and additives
technologies for fiber applications and extends
existing reach into strategic end markets such as
transportation and consumer goods
Medical
Baby Care Electronics
Food Packaging
Automotive Textiles Home Textiles
Clothing Outdoor
PolyOne Corporation Page 23
$0.82
$1.00
$1.31
$1.80
$1.96
$0.00
$0.75
$1.50
$2.25
2011 2012 2013 2014 2015
Adjusted EPS
2015 Full Year Financial Highlights
Color Additives & Inks operating
margin reached record level
of 16.7%
Specialty Engineered Materials
operating margin grew 260 basis
points year-over-year to 14.7%
Adjusted EPS has grown on average
24% per year since 2011
$50
$75
$104
$125 $135
$0
$40
$80
$120
$160
2011 2012 2013 2014 2015
CAI Operating Profit
$46 $47
$57
$72
$80
$20
$40
$60
$80
$100
2011 2012 2013 2014 2015
SEM Operating Profit
Note: $ in millions, except per share data
PolyOne Corporation Page 24
1.7%
4.6% 5.1%
5.5%
7.2% 8.1%
9.7%
12.2%
16.7%
20%+
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2020
Operating Income % of Sales
At a Glance
Color, Additives and Inks
2015 Revenues: $0.8 Billion Solutions
Expanding Profits 2015 Revenue by Industry Segment
14.7%
Platinum
Vision
United States
48%
Europe
33%
Canada
2%
Asia
12%
Latin America
5%
Appliances
2%
Building &
Construction
11%
Consumer
8%
Electrical &
Electronics
1%
Healthcare
6%
Industrial
13%
Packaging
31%
Textiles
8%
Transportation
9%
Wire & Cable
11%
PolyOne Corporation Page 25
1.1% 1.3%
3.4%
5.1%
9.6%
8.0% 8.6%
9.3%
14.7%
20%+
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2020
Operating Income % of Sales
At a Glance
Specialty Engineered Materials
2015 Revenues: $0.5 Billion Solutions
2015 Revenue by Industry Segment Expanding Profits
Platinum
Vision
12.1%
United States
49%
Europe
29%
Canada
2%
Asia
20%
Appliances
3%
Building &
Construction
3%
Consumer
20%
Electrical &
Electronics
16%
Healthcare
11%
Industrial
8%
Packaging
5%
Transportation
19%
Wire & Cable
15%
PolyOne Corporation Page 26
1.4%
5.6%
7.3%
3.0%
12-14%
2012 2013 2014 2015 2020
Operating Income % of Sales
At a Glance
Designed Structures and Solutions
Solutions 2015 Revenues: $0.5 Billion
Expanding Profits 2015 Revenue by Industry Segment
Platinum
Vision
Appliances,
3%
Building &
Construction
9%
Consumer
5%
Healthcare
7%
Industrial
24%
Packaging
19%
Transportation
33%
United States
97%
Canada
3%
PolyOne Corporation Page 27
Appliances
7%
Building &
Construction
31%
Consumer
5%
Electrical &
Electronics
3%
Healthcare
1%
Industrial
13%
Packaging
5% Transportation
19% Wire & Cable
16%
5.5%
6.9%
3.8%
3.6%
5.5%
4.3%
6.3%
7.2%
8.3%
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2020
Operating Income % of Sales
At a Glance
Performance Products and Solutions
Solutions
Expanding Profits
2015 Revenues: $0.7 Billion
10-12%
Platinum
Vision
2015 Revenue by Industry Segment
7.7%
United States
79%
Canada
14%
Asia
2%
Latin America
5%
PolyOne Corporation Page 28
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 2015 2020
Operating Income % of Sales
15%
53%
2006 Q4 2015
At a Glance
Distribution
Key Suppliers 2015 Revenues: $1.0 Billion
ROIC Expanding Profits
6.1%
Platinum
Vision
Appliances
6%
Building &
Construction
4%Consumer
13%
Electrical &
Electronics
6%
Healthcare
23%
Industrial
16%
Packaging
4%
Transportation
24%
Wire & Cable
4%
http://www.polyone.com/Pages/VariationRoot.aspx
PolyOne Corporation Page 29
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 30
Application Examples
PolyOne Corporation Page 31
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 32
$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 33
• 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 34
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 35
• Color harmonization across
15 unique color-and-polymer
combinations
• Eliminated need for multiple pre-
colored materials
• Reduced Land Rover’s working
capital
Range Rover Evoque Interior
PolyOne Corporation Page 36
• Reduced health and
environmental impact
• System cost reduction
• Radiation-shielding
performance
• Parts consolidation
• Design freedom
CT Scanner
PolyOne Corporation Page 37
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 38
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.
Appendix
Recent Acquisitions
2015 Full Year Financial Highlights
At a Glance�Color, Additives and Inks
At a Glance�Specialty Engineered Materials
At a Glance�Designed Structures and Solutions
At a Glance�Performance Products and Solutions
At a Glance�Distribution
Plastics: Key to Future Sustainable Development
Application Examples
Outdoor Applications
Slide Number 32
Authentication Technology
Metal Replacement Solutions
Range Rover Evoque Interior
Slide Number 36
High-Barrier Packaging Containers
Aerospace Applications
Investor Presentation - March 1, 2016 r36
Investor Presentation - March 1, 2016
https://www.avient.com/sites/default/files/2022-10/Edgetek Toughened PPA Technical Bulletin.pdf
The PPA-based formulations offer decreased
moisture absorption compared to nylon 66
(PA66), helping to improve durability and long-
term performance.
Edgetek™ ET9700-0031
HI HS NAT
Edgetek™ ET9700-0033
20GF HI HS NAT
Edgetek™ ET9700-0032
35GF HI HS NAT
Description Unfilled GF 20% GF 35%
Color Natural & Black Natural & Black Natural & Black
Notched Impact (kJ/m2) 19.0 13.8 13
Un-Notched Impact (kJ/m2) No Break 73 87
HDT, 1.83 MPa (°C) 112 182 258
Tensile Strength, yield (MPa) 60 106 183
Tensile Elongation, yield (%) 6.0 3.5 2.2
Flexural Modulus (MPa) 2235 5288 9058
Flexural Strength (MPa) 96 170 264
Heat Stabilization Yes Yes Yes
https://www.avient.com/investor-center/news/avient-announces-second-quarter-2020-results
Attachment 6
Color, Additives and Inks
Color, Additives and Inks
https://www.avient.com/idea-center/idea-center?all=true
More
Smart Colorants™
Learn how to use both solid and liquid colorants effectively.
More
Nylon 6 vs.
Nylon 66
Explore the differences between nylon 6 and nylon 66 to find out which is right for you.
https://www.avient.com/sites/default/files/2021-01/avient-colorants-sweden-ab-certificate-of-registration.pdf
e-Certificate of registration
Swedish Companies Registration Office
LIMITED COMPANY
D1a- 6064988
Registration number
Date of registration of the company
Document created on
Date of registration of current name
Page
556393-1020
1990-04-10
2020-11-30 14:53
2020-11-30
1 (2)
Registration number: 556393-1020
Business name: Avient Colorants Sweden AB
Address:
Box 9053
200 39 MALMÖ
Registered office: Malmö
Note:
The company is registered as a private limited company.
ARTICLES OF ASSOCIATION
Date of the latest change: 2020-11-02
FINANCIAL YEAR
Registered financial year: 0101 - 1231
Latest annual report submitted covers financial
period 20190101-20191231
DATE OF REGISTRATION OF CURRENT AND PREVIOUS BUSINESS NAMES
2020-11-30 Avient Colorants Sweden AB
2016-01-19 Clariant Plastics & Coatings (Nordic) AB
2000-08-23 Clariant Masterbatches Norden Aktiebolag
1990-05-22 Drycolor Aktiebolag
1990-04-10 Nya Drycolor Aktiebolag
**** The above information is an extract from the Trade and Industry
Register Bolagsverket, the Swedish Companies Registration Office ****
Bolagsverket
851 81 Sundsvall
0771-670 670
bolagsverket@bolagsverket.se
www.bolagsverket.se
2020-11-30T14:53:51+0100
Sweden
Bolagsverket
Bolagsverket intygar äktheten och integriteten för detta dokument
https://www.avient.com/news/new-artisan-abs-thermoplastic-solution-avient-features-metallic-effect-electronics-brands
By using Artisan pre-colored ABS thermoplastics, molders are able to produce parts with a brilliant, high-gloss metallic effect without any secondary processing.
Artisan ABS formulations are currently manufactured in Asia in customizable, metallic colors, and are available for purchase globally.
NOTE: On July 1, 2020, PolyOne and Clariant Masterbatches joined together as Avient, a new kind of materials company focused on conquering customer challenges and unlocking the potential for innovation and sustainability around the globe.
https://www.avient.com/sites/default/files/2023-07/AVNT Q2 2023 Earnings Presentation%5B70%5D.pdf
GUIDANCE
( T O TA L C O M PA N Y )
8
15.4%
15.9%
Guidance Actual
Adjusted EBITDA Margin %
Better-than-expected margins
driven by:
• Favorable mix - strong
demand for composite
applications
• Raw material deflation
Q2 EBITDA BRIDGE
( T O TA L C O M PA N Y )
9
($ millions)
CAI:
Price / Mix 7)
Deflation 11)
SEM:
Price / Mix 2)
Deflation 6)
Net Price Benefit 26)
Wage and Energy Inflation (10)
Cost Reductions 13)
FX (2)
Q2 2023 Actual $131)
Adjusted
EBITDA
Q2 2022 Pro Forma $ 172)
Demand (68) • Demand conditions vs.
expectations:
US & Canada
LATAM
EMEA
Asia
• Net price benefit remains greater
than wage and energy inflation
• Clariant synergies and reduced
administrative costs
Q2 2 023 SEQUENTI AL SAL ES BY REGI ON
Q 2 2 0 2 3 v s .
Q 1 2 0 2 3
-8%
+6%
-1%
Flat
10
US & Canada
Latin America
EMEA
Asia
Total Avient -2.6%
2 0 2 3 G U I D A N C E
$128
$525
Q3 FY
$0.56
$2.40
Q3 FY
2023 GUIDANCE
12
$800
$3,280
Q3 FY
Sales Adjusted EBITDA Adjusted EPS
(in millions) (in millions)
13
• Focused on working capital
management, restructuring
actions to streamline
operations
• IT investment to further
integrate acquired
businesses and capture
operational efficiencies
• Preserve Free Cash Flow to
maintain net leverage
CASH FLOW / LEVERAGE
($ millions) 2023E
Cash Flow from Operating Activities 320$
Less: CapEx (140)
Free Cash Flow 180$
Adjusted EBITDA 525$
Net Debt / Adjusted EBITDA 3.0x
SUSTAINABILITY AS A GROWTH DRIVER
14
LONG-TERM REVENUE GROWTH DRI VERS
Revenue From Sustainable Solutions* 2016-2022
$340M
$405M
$455M
$550M
$790M
$915M
2016 2017 2018 2019 2020PF** 2021 2022PF***
$1,175M
*Avient Sustainable Solutions definitions aligned with FTC 2012 Guide for the Use of Environmental Marketing Claims (“Green Guides”)
**2020 is Pro Forma to include full year of the Clariant Color business
***2022 is Pro Forma for the acquisition of Avient Protective Materials and the divestiture of Distribution
60%+
Key Growth
Drivers
Sustainable
Solutions
Composites, Healthcare,
Asia / LATAM
Overlap
Other
(GDP Growth)
Total Company Revenue
SUSTAINABILITY REPORT
2022
• Provides progress on 2030 goals
• Reaffirms commitment to U.N.