https://www.avient.com/resources/safety-data-sheets?page=1020
PX-21440-A BLACK PLASTISOL
PX-21440-B BLACK PLASTISOL
PX-21440-C BLACK PLASTISOL
https://www.avient.com/resources/safety-data-sheets?page=5480
Geon(TM) FM207 ROSE SCENT FOAM PLASTISOL
FB606 White Foam Plastisol
FB607 Black Sponge Plastisol
https://www.avient.com/resources/safety-data-sheets?page=3484
Geon(TM) DM750 RASPBERRY PLASTISOL
Geon(TM) DM750 CUCUMBER PLASTISOL
Geon(TM) DM750 BLACK CHERRY PLASTISOL
https://www.avient.com/resources/safety-data-sheets?page=1488
PX-8595-A BLUE POOL FILTER PLASTISOL
BARN RED PLASTISOL
IVORY PLASTISOL
https://www.avient.com/resources/safety-data-sheets?page=1338
PLASTISOL
PX-21433-A WHITE PLASTISOL
PX-21433-B YELLOW PLASTISOL
https://www.avient.com/resources/safety-data-sheets?page=2345
PX-20482-B YELLOW HOT DIP PLASTISOL
PX-20482-A GRAY HOT DIP PLASTISOL
PX-20482-C BLUE HOT DIP PLASTISOL
https://www.avient.com/resources/safety-data-sheets?page=845
PX-15421-E ORANGE HOT DIP PLASTISOL
PX-15421-F YELLOW HOT DIP PLASTISOL
9211-21 DARK GREEN THERMOSET PLASTISOL
https://www.avient.com/resources/safety-data-sheets?page=5012
MB3087A Plastisol (lower odor M3334)
MB3087B Plastisol (lower odor M3334)
MB3087C Plastisol (lower odor M3334)
https://www.avient.com/resources/safety-data-sheets?page=846
19500-011 RED PLASTISOL
PX-21459-B HOT DIP PLASTISOL
PX-13494-F ORANGE PLASTISOL
https://www.avient.com/sites/default/files/2021-02/avient-ir-presentation-goldman-sachs-and-morgan-stanley.pdf
D is t. ) R P M P P G K W R F U L A V Y G C P IF F F M C H X L H U N E M N F O E E C L K R A S C L A S H C E G R A A LB Median: 5%Median: 3% Source: Peer data per Bloomberg market data as of February 5, 2021 Avient reflects 2021 estimated revenue of $4,100M and excludes one-time synergy capture CAPEX ($20M) Avient Specialty Formulators Other Chemical/Specialty Companies Free Cash Flow Conversion (1) 2021E (%) Being asset light helps us to generate strong free cash flow that is in line with specialty formulators.
Free cash flow conversion calculated as (EBITDA – Capex) / EBITDA Median: 83% Median: 76% HIGH FREE CASH FLOW CONVERSION Avient reflects 2021 estimated EBITDA of $510M and excludes one-time synergy capture CAPEX ($20M) Source: Peer data per Bloomberg market data as of February 5, 2021 85 87 86 86 81 81 59 92 88 81 79 79 79 76 76 75 73 67 67 64 60 7 A vi en t P P G K W R R P M F U L A V Y G C P IF F F M C U N V R H X L E M N B N R E C L C E A S H F O E G R A H U N K R A S C L A L B Source: Peer data per Bloomberg market data as of February 5, 2021 Total Enterprise Value / 2021E EBITDA Our current valuation implies an EBITDA multiple that is significantly below specialty formulator peers and our historic valuations, when the company had considerable exposure to more cyclical and challenging end markets.
With the Clariant Masterbatch acquisition and divestment of the PP&S business, our exposure is now concentrated in less-cyclical and high-growth markets, with increased geographic diversification and a more specialized portfolio that can significantly expand EBITDA margins. 27 Avient reflects 2021 estimated EBITDA of $510M OUR VALUATION VERSUS PEERS Avient Specialty Formulators Other Chemical/Specialty Companies 9.5 21.1 13.2 13.2 12.0 12.0 9.7 25.2 23.1 14.7 13.5 12.9 11.0 11.0 11.0 10.2 9.6 9.3 9.3 9.1 8.6 8.3 A vi en t K W R A V Y R P M G C P P P G F U L A L B E C L H X L IF F F M C G R A B N R F O E A S H C E S C L U N V R E M N H U N K R A Median: 11.0xMedian: 12.6x SUMMARY: WHY INVEST IN AVIENT?