https://www.avient.com/sites/default/files/2020-10/investing-in-avient.pdf
Whether it’s an ambitious start-up bringing a new product to market, or a large, multi-
national OEM looking for consistency and reliability of global supply, Avient is built for
long-term partnerships.
That’s Avient.
16,000+
CUSTOMERS
>75%
ARE CUSTOMIZED SOLUTIONS
TO UNIQUE SPECIFICATIONS
of
sales
AVIENT’S VALUE CREATION LEVERS
8
Exposure to high growth end markets
Investment in commercial resources and innovation
Strong free cash flow generation / capital deployment
Clariant Masterbatch synergies
COVID recovery
Re-Rating: Current share price valuation
Avient is poised for near-term and long-term
shareholder value creation.
LB
As a specialty formulator, we don’t
require significant capital
investment, as compared to the
base resin raw material suppliers
we purchase from.
https://www.avient.com/sustainability-2020
It applies to all Avient sites and our contractors globally.
As a global organization, Avient recognized the early risks associated with the COVID-19 pandemic.
Avient’s Global Trade and EH&S departments share responsibility for supply chain security.
https://www.avient.com/sites/default/files/2023-09/Avient Sustainability Day 2023 - Website %289.19%29.pdf
They use words such as "will," “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “believe” and other words and terms of similar meaning in connection with any discussion of future operating or
financial condition, performance and/or sales.
Louie LaBonte – Print Specialist, Standards & Capabilities
“Avient has been a tremendous long-term partner with IVCC in the development of
insecticide treated mosquito nets in the global fight against Malaria.”
Global NGO fighting Malaria
“Avient’s PREPERM® technology helps make our antennas
more efficient.”
https://www.avient.com/investor-center/news/polyone-announces-second-quarter-2016-results
Overall, economic conditions remain sluggish, and I see these investments as more important now than ever to deliver long-term growth for our shareholders."
Short-term and current portion of long-term debt
Purchase of common shares for treasury
https://www.avient.com/sites/default/files/2024-10/Avient CDP Climate Change %26 Water Submission 20241001.pdf
https://www.cdp.net/en/info/terms-and-conditions/terms-of-disclosure/corporate-questionnaire
1
Contents
2
C1.
Long-term
(2.1.1) From (years)
15
(2.1.2) Is your long-term time horizon open ended?
In the near- and medium-term future, the probability of this risk impacting Avient is low.
https://www.avient.com/sites/default/files/2023-03/2023 Avient Bookmarked Proxy Statement - FINAL.pdf
Preete’s
operational foundation, strategic expertise, and global experience are assets to
Avient’s Board.
The Committee will determine the terms and conditions of any such
awards.
The
Compensation Committee shall determine the terms and conditions of such awards.
https://www.avient.com/investor-center/news/avient-announces-second-quarter-2024-results
Short-term and current portion of long-term debt
Long-term debt
Repayment of long-term debt
https://www.avient.com/sites/default/files/2020-03/PolyOne_Website-12.19.pdf
In addition, adjusted operating income and adjusted EPS, which exclude the
impact of special items, are components of various PolyOne annual and long-term employee incentive plans.
Pro forma adjusted EPS is defined as adjusted EPS pro forma for the proposed acquisitions excluding the impact of
the step-up of depreciation and amortization related to purchase accounting.
Sources
Cash from Balance Sheet $465
New Senior Unsecured Notes 650
New Equity 450
Total Sources $1,565
Uses
Clariant Masterbatch $1,500
Clariant India Masterbatch 60
Less: Lease Adjustment (113)
Net Purchase Price $1,447
Net Cash Acquired 57
Fees, Expenses & OID 61
Total Uses $1,565
($ Millions)
Cash and Cash Equivalents $370
$450M Senior Secured ABL Revolver -
Senior Secured Term Loan B due 2026 624
Other Debt 25
Total Senior Secured Debt $649
5.25% Senior Unsecured Notes due 2023 $600
New Senior Unsecured Notes 650
Total Senior Debt $1,899
Net Debt $1,529
New Equity $450
Pro Forma Capitalization (1)
PF 12/31/2019
$450
$600 $624
$743
2019 2020 2021 2022 2023 2024 2025 2026
A T T R A C T I V E F I N A N C I N G S T R U C T U R E
Attractive Debt
Maturity Profile
Existing Revolver Existing Senior Notes Existing Term Loan B
New Debt
Summary
Terms on
New Debt
$465 million of cash from the balance sheet expected to fund a portion of the purchase price
Bridge financing for remainder fully committed from Citi, Morgan Stanley and Wells Fargo
Permanent financing expected to include a combination of long-term debt and new equity
The timing of the permanent financing is subject to a number of factors, including, but not limited
to, market conditions
PolyOne is committed to preserving a strong balance sheet
– Target net leverage at close below 3.5x, excluding synergies
Pro forma capital structure positions PolyOne with flexibility to pursue continued growth strategy
New financing expected to have same or better covenant package than existing capital structure
Capital structure would be “covenant lite”
Capital
Policy
Transaction in line with PolyOne’s disciplined capital allocation policy
Existing PolyOne dividend policy to be maintained
Focus on deleveraging in the near term
2028+
PolyOne Corporation 26
PolyOne Corporation 27
T H E N E W P O L Y O N E : A S P E C I A L T Y G R O W T H C O M P A N Y
Landmark portfolio transformation: > 85% of Adjusted EBITDA
from specialty solutions
World-class innovation, technology and service are differentiators
Sustainability initiatives and alignment with megatrends drive
above market growth in key end markets and applications:
Capital management is a strength - proven track record of
expanding ROIC while increasing invested capital
Transaction expected to add $0.85 to pro forma adjusted EPS
PolyOne Corporation 28
PolyOne Corporation 29
https://www.avient.com/industries/consumer/home-household/disposables
So one-time users become repeat purchasers.
https://www.avient.com/investor-center/news/avient-announces-third-quarter-2024-results
Short-term and current portion of long-term debt
Long-term debt
Payments on long-term borrowings