https://www.avient.com/sites/default/files/2021-10/avnt-q3-2021-news-release.pdf
Three Months Ended September 30, 2021 Three Months Ended September 30, 2020 Reconciliation to Condensed Consolidated Statements of Income $ EPS $ EPS Net income from continuing operations attributable to Avient shareholders $ 52.9 $ 0.57 $ 1.7 $ 0.02 Special items, after tax (Attachment 3) 11.7 0.13 40.3 0.44 Adjusted net income / EPS - excluding special items $ 64.6 $ 0.70 $ 42.0 $ 0.46 Nine Months Ended September 30, 2021 Nine Months Ended September 30, 2020 Reconciliation to Condensed Consolidated Statements of Income $ EPS $ EPS Net income from continuing operations attributable to Avient shareholders $ 201.0 $ 2.18 $ 57.8 $ 0.64 Special items, after tax (Attachment 3) 26.0 0.28 51.5 0.57 Adjusted net income / EPS - excluding special items $ 227.0 $ 2.46 $ 109.3 $ 1.21 8 Attachment 2 Avient Corporation Condensed Consolidated Statements of Income (Unaudited) (In millions, except per share data) Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Sales $ 1,219.8 $ 924.5 $ 3,617.3 $ 2,245.1 Cost of sales 964.4 714.3 2,770.8 1,713.7 Gross margin 255.4 210.2 846.5 531.4 Selling and administrative expense 176.7 176.7 539.3 407.1 Operating income 78.7 33.5 307.2 124.3 Interest expense, net (19.0) (29.7) (57.8) (55.3) Other income, net 1.4 1.5 4.1 12.6 Income from continuing operations before income taxes 61.1 5.3 253.5 81.6 Income taxes (8.5) (2.7) (51.8) (22.5) Net income from continuing operations 52.6 2.6 201.7 59.1 Loss from discontinued operations, net of income taxes — — — (0.5) Net income 52.6 2.6 201.7 58.6 Net loss (income) attributable to noncontrolling interests 0.3 (0.9) (0.7) (1.3) Net income attributable to Avient common shareholders $ 52.9 $ 1.7 $ 201.0 $ 57.3 Earnings per share attributable to Avient common shareholders - Basic: Continuing operations $ 0.58 $ 0.02 $ 2.20 $ 0.64 Discontinued operations — — — — Total $ 0.58 $ 0.02 $ 2.20 $ 0.64 Earnings per share attributable to Avient common shareholders - Diluted: Continuing operations $ 0.57 $ 0.02 $ 2.18 $ 0.64 Discontinued operations — — — (0.01) Total $ 0.57 $ 0.02 $ 2.18 $ 0.63 Cash dividends declared per share of common stock $ 0.2125 $ 0.2025 $ 0.6375 $ 0.6075 Weighted-average shares used to compute earnings per common share: Basic 91.4 91.5 91.3 89.7 Diluted 92.2 91.9 92.1 90.7 9 Attachment 3 Avient Corporation Summary of Special Items (Unaudited) (In millions, except per share data) Special items (1) Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Cost of sales: Restructuring costs, including accelerated depreciation and amortization $ (5.3) $ (1.3) $ (8.6) $ (2.5) Environmental remediation costs (9.4) (15.8) (22.4) (19.3) Reimbursement of previously incurred environmental costs — — 4.5 8.7 Acquisition related costs (2.6) (10.5) (1.2) (10.5) Impact on cost of sales (17.3) (27.6) (27.7) (23.6) Selling and administrative expense: Restructuring, legal and other — (4.2) (1.7) (9.5) Acquisition earn-out adjustments — (1.5) — (2.5) Acquisition related costs (2.7) (7.1) (7.2) (23.5) Impact on selling and administrative expense (2.7) (12.8) (8.9) (35.5) Impact on operating income (20.0) (40.4) (36.6) (59.1) Costs related to committed financing in interest expense, net — (9.6) — (10.1) Other income, net 0.1 — 0.1 0.3 Pension settlement gain and mark-to-market adjustment — — — 6.9 Impact on income from continuing operations before income taxes (19.9) (50.0) (36.5) (62.0) Income tax benefit on above special items 4.6 12.7 8.9 15.4 Tax adjustments(2) 3.6 (3.0) 1.6 (4.9) Impact of special items on net income from continuing operations attributable to Avient Shareholders $ (11.7) $ (40.3) $ (26.0) $ (51.5) Diluted earnings per common share impact $ (0.13) $ (0.44) $ (0.28) $ (0.57) Weighted average shares used to compute adjusted earnings per share: Diluted 92.2 91.9 92.1 90.7 (1) Special items include charges related to specific strategic initiatives or financial restructuring such as: consolidation of operations; debt extinguishment costs; costs incurred directly in relation to acquisitions or divestitures; employee separation costs resulting from personnel reduction programs, plant realignment costs, executive separation agreements; asset impairments; settlement gains or losses and mark-to- market adjustments associated with actuarial gains and losses on pension and other post-retirement benefit plans; environmental remediation costs, fines, penalties and related insurance recoveries related to facilities no longer owned or closed in prior years; gains and losses on the divestiture of operating businesses, joint ventures and equity investments; gains and losses on facility or property sales or disposals; results of litigation, fines or penalties, where such litigation (or action relating to the fines or penalties) arose prior to the commencement of the performance period; one-time, non-recurring items; and the effect of changes in accounting principles or other such laws or provisions affecting reported results. (2) Tax adjustments include the net tax benefit/(expense) from one-time income tax items, the set-up or reversal of uncertain tax position reserves and deferred income tax valuation allowance adjustments. 10 Attachment 4 Avient Corporation Condensed Consolidated Balance Sheets (In millions) (Unaudited) September 30, 2021 December 31, 2020 ASSETS Current assets: Cash and cash equivalents $ 545.2 $ 649.5 Accounts receivable, net 703.0 516.6 Inventories, net 477.2 327.5 Other current assets 123.5 108.5 Total current assets 1,848.9 1,602.1 Property, net 669.6 694.9 Goodwill 1,293.9 1,308.1 Intangible assets, net 948.4 1,008.5 Operating lease assets, net 81.6 80.9 Other non-current assets 168.6 176.0 Total assets $ 5,011.0 $ 4,870.5 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Short-term and current portion of long-term debt $ 8.7 $ 18.6 Accounts payable 557.7 471.7 Current operating lease obligations 24.1 25.1 Accrued expenses and other current liabilities 371.3 285.6 Total current liabilities 961.8 801.0 Non-current liabilities: Long-term debt 1,851.0 1,854.0 Pension and other post-retirement benefits 111.0 115.0 Non-current operating lease obligations 57.7 56.0 Other non-current liabilities 244.1 332.8 Total non-current liabilities 2,263.8 2,357.8 SHAREHOLDERS' EQUITY Avient shareholders’ equity 1,768.8 1,697.1 Noncontrolling interest 16.6 14.6 Total equity 1,785.4 1,711.7 Total liabilities and equity $ 5,011.0 $ 4,870.5 11 Attachment 5 Avient Corporation Condensed Consolidated Statements of Cash Flows (Unaudited) (In millions) Nine Months Ended September 30, 2021 2020 Operating Activities Net income $ 201.7 $ 58.6 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 105.8 74.8 Accelerated depreciation and amortization 1.9 2.5 Share-based compensation expense 8.4 7.1 Changes in assets and liabilities, net of the effect of acquisitions: Increase in accounts receivable (199.7) (12.7) (Increase) decrease in inventories (156.2) 53.0 Increase in accounts payable 95.3 21.3 Decrease in pension and other post-retirement benefits (14.2) (14.4) Increase in post-acquisition earnout liabilities — 2.5 Increase in accrued expenses and other assets and liabilities, net 67.0 56.1 Taxes paid on gain on divestiture — (142.0) Payment of post-acquisition date earnout liability — (38.1) Net cash provided by operating activities 110.0 68.7 Investing activities Capital expenditures (62.7) (38.6) Business acquisitions, net of cash acquired (47.6) (1,342.7) Net proceeds from divestiture — 7.1 Other investing activities (2.0) 5.2 Net cash used by investing activities (112.3) (1,369.0) Financing activities Debt offering proceeds — 650.0 Purchase of common shares for treasury (4.2) (13.6) Cash dividends paid (58.2) (52.8) Repayment of long-term debt (16.5) (6.0) Payments of withholding tax on share awards (9.1) (1.9) Debt financing costs — (9.5) Equity offering proceeds, net of underwriting discount and issuance costs — 496.1 Payment of acquisition date earnout liability — (50.8) Other financing activities (3.5) — Net cash (used) provided by financing activities (91.5) 1,011.5 Effect of exchange rate changes on cash (10.5) 1.4 Decrease in cash and cash equivalents (104.3) (287.4) Cash and cash equivalents at beginning of year 649.5 864.7 Cash and cash equivalents at end of period $ 545.2 $ 577.3 12 Attachment 6 Avient Corporation Business Segment Operations (Unaudited) (In millions) Operating income and earnings before interest, taxes, depreciation and amortization (EBITDA) at the segment level does not include: special items as defined in Attachment 3; corporate general and administration costs that are not allocated to segments; intersegment sales and profit eliminations; share-based compensation costs; and certain other items that are not included in the measure of segment profit and loss that is reported to and reviewed by the chief operating decision maker.
https://www.avient.com/sites/default/files/2021-04/avnt-fourth-quarter-2020-news-release.pdf
Three Months Ended December 31, 2020 2019 Reconciliation to Condensed Consolidated Statements of Income $ EPS(1) $ EPS(1) Net income from continuing operations attributable to Avient shareholders $ 74.2 $ 0.81 $ 6.4 $ 0.08 Special items, after tax (Attachment 3) (26.7) (0.29) 19.9 0.26 Adjusted net income / EPS - excluding special items $ 47.5 $ 0.52 $ 26.3 $ 0.34 (1) Per share amounts may not recalculate from figures presented herein due to rounding Year Ended December 31, 2020 2019 Reconciliation to Condensed Consolidated Statements of Income $ EPS(1) $ EPS(1) Net income from continuing operations attributable to Avient shareholders $ 132.0 $ 1.46 $ 75.5 $ 0.97 Special items, after tax (Attachment 3) 24.8 0.27 55.8 0.72 Adjusted net income / EPS - excluding special items $ 156.8 1.73 $ 131.3 1.69 (1) Per share amounts may not recalculate from figures presented herein due to rounding 6 Attachment 2 Avient Corporation Condensed Consolidated Statements of Income (Unaudited) (In millions, except per share data) Three Months Ended December 31, Year Ended December 31, 2020 2019 2020 2019 Sales $ 997.0 $ 658.6 $ 3,242.1 $ 2,862.7 Cost of sales 744.1 505.3 2,457.8 2,205.5 Gross margin 252.9 153.3 784.3 657.2 Selling and administrative expense 187.9 132.8 595.0 500.4 Operating income 65.0 20.5 189.3 156.8 Interest expense, net (19.3) (11.9) (74.6) (59.5) Other income, net 11.7 10.7 24.3 12.1 Income from continuing operations before income taxes 57.4 19.3 139.0 109.4 Income tax benefit (expense) 17.3 (12.9) (5.2) (33.7) Net income from continuing operations 74.7 6.4 133.8 75.7 Income (loss) from discontinued operations, net of income taxes 0.1 458.9 (0.4) 513.1 Net income 74.8 465.3 133.4 588.8 Net income attributable to noncontrolling interests (0.5) — (1.8) (0.2) Net income attributable to Avient common shareholders $ 74.3 $ 465.3 $ 131.6 $ 588.6 Earnings per share attributable to Avient common shareholders - Basic: Continuing operations $ 0.81 $ 0.08 $ 1.47 $ 0.98 Discontinued operations — 5.97 (0.01) 6.64 Total $ 0.81 $ 6.05 $ 1.46 $ 7.62 Earnings per share attributable to Avient common shareholders - Diluted: Continuing operations $ 0.81 $ 0.08 $ 1.46 $ 0.97 Discontinued operations — 5.92 (0.01) 6.61 Total $ 0.81 $ 6.00 $ 1.45 $ 7.58 Cash dividends declared per share of common stock $ 0.2125 $ 0.2025 $ 0.8200 $ 0.7875 Weighted-average shares used to compute earnings per common share: Basic 91.4 76.9 90.1 77.2 Diluted 92.1 77.5 90.6 77.7 7 Attachment 3 Avient Corporation Summary of Special Items (Unaudited) (In millions, except per share data) Special items (1) Three Months Ended December 31, Year Ended December 31, 2020 2019 2020 2019 Cost of sales: Restructuring costs, including accelerated depreciation $ (1.8) $ — $ (4.3) $ 0.3 Environmental remediation costs (1.1) 0.3 (20.4) (10.1) Reimbursement of previously incurred environmental costs — 0.5 8.7 4.5 Inventory fair market value step-up expense 1.2 — (9.3) (2.0) Impact on cost of sales (1.7) 0.8 (25.3) (7.3) Selling and administrative expense: Restructuring, legal and other (13.0) (4.4) (22.5) (18.6) Acquisition earn-out adjustments 1.5 (15.7) (1.0) (36.4) Acquisition related costs (1.4) (5.3) (24.9) (9.4) Impact on selling and administrative expense (12.9) (25.4) (48.4) (64.4) Impact on operating income (14.6) (24.6) (73.7) (71.7) Costs related to committed financing in interest expense, net — — (10.1) — Other income, net 0.1 0.1 0.4 0.5 Pension settlement/curtailment gains and mark-to-market adjustment 10.3 9.5 17.2 9.5 Impact on income from continuing operations before income taxes (4.2) (15.0) (66.2) (61.7) Income tax benefit (expense) on above special items (1.3) (0.4) 14.1 11.1 Tax adjustments(2) 32.2 (4.5) 27.3 (5.2) Impact of special items on net income from continuing operations attributable to Avient Shareholders $ 26.7 $ (19.9) $ (24.8) $ (55.8) Diluted earnings per common share impact of special items on net income from continuing operations attributable to Avient shareholders $ 0.29 $ (0.26) $ (0.27) $ (0.72) Weighted average shares used to compute adjusted earnings per share: Diluted 92.1 77.5 90.6 77.7 (1) Special items include charges related to specific strategic initiatives or financial restructuring such as: consolidation of operations; debt extinguishment costs; costs incurred directly in relation to acquisitions or divestitures; employee separation costs resulting from personnel reduction programs, plant realignment costs, executive separation agreements; asset impairments; settlement gains or losses and mark-to- market adjustments associated with actuarial gains and losses on pension and other post-retirement benefit plans; environmental remediation costs, fines, penalties and related insurance recoveries related to facilities no longer owned or closed in prior years; gains and losses on the divestiture of operating businesses, joint ventures and equity investments; gains and losses on facility or property sales or disposals; results of litigation, fines or penalties, where such litigation (or action relating to the fines or penalties) arose prior to the commencement of the performance period; one-time, non-recurring items; and the effect of changes in accounting principles or other such laws or provisions affecting reported results. (2) Tax adjustments include the net tax benefit/(expense) from one-time income tax items, adjustments to uncertain tax position reserves and deferred income tax valuation allowances. 8 Attachment 4 Avient Corporation Condensed Consolidated Balance Sheets (Unaudited) (In millions) Year Ended December 31, 2020 2019 ASSETS Current assets: Cash and cash equivalents $ 649.5 $ 864.7 Accounts receivable, net 516.6 330.0 Inventories, net 327.5 260.9 Other current assets 89.9 57.7 Total current assets 1,583.5 1,513.3 Property, net 694.9 407.4 Goodwill 1,308.1 685.7 Intangible assets, net 1,008.5 469.3 Operating lease assets, net 80.9 63.8 Other non-current assets 195.4 133.8 Total assets $ 4,871.3 $ 3,273.3 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Short-term and current portion of long-term debt $ 18.6 $ 18.4 Accounts payable 471.7 287.7 Current operating lease obligations 25.1 21.0 Accrued expenses and other current liabilities 289.2 375.4 Total current liabilities 804.6 702.5 Non-current liabilities: Long-term debt 1,854.0 1,210.9 Pension and other post-retirement benefits 115.0 56.6 Deferred income taxes 150.7 63.5 Non-current operating lease obligations 56.0 42.8 Other non-current liabilities 192.8 144.3 Total non-current liabilities 2,368.5 1,518.1 SHAREHOLDERS' EQUITY Avient shareholders’ equity 1,683.6 1,051.9 Noncontrolling interest 14.6 0.8 Total equity 1,698.2 1,052.7 Total liabilities and equity $ 4,871.3 $ 3,273.3 9 Attachment 5 Avient Corporation Condensed Consolidated Statements of Cash Flows (Unaudited) (In millions) Year Ended December 31, 2020 2019 Operating activities Net income $ 133.4 $ 588.8 Adjustments to reconcile net income to net cash provided by operating activities: Gain on sale of business, net of tax — (457.7) Depreciation and amortization 111.8 87.5 Accelerated depreciation and fixed asset charges associated with restructuring activities 3.2 — Deferred income tax benefit (1.1) (3.2) Share-based compensation expense 11.3 11.6 Changes in assets and liabilities, net of the effect of acquisitions: (Increase) decrease in accounts receivable (4.6) 29.7 Decrease in inventories 40.2 40.2 Increase (decrease) in accounts payable 79.5 (22.7) Increase (decrease) in pension and other post-retirement benefits 30.7 (19.7) Increase in post-acquisition earnout liabilities 1.0 36.4 (Decrease) increase in accrued expenses and other assets and liabilities - net (3.7) 9.9 Taxes paid on gain on sale of business (142.0) — Payment of post-acquisition date earnout liability (38.1) — Net cash provided by operating activities 221.6 300.8 Investing activities Capital expenditures (63.7) (81.7) Business acquisitions, net of cash acquired (1,380.2) (119.6) Net proceeds from divestiture 7.1 761.8 Net proceeds from other assets 5.2 51.4 Net cash (used) provided by investing activities (1,431.6) 611.9 Financing activities Debt offering proceeds 650.0 — Borrowings under credit facilities — 963.4 Repayments under credit facilities — (1,083.9) Purchase of common shares for treasury (22.4) (26.9) Cash dividends paid (71.3) (60.3) Repayment of other debt — (1.8) Repayment of long-term debt (7.8) (6.5) Payments on withholding tax on share awards (2.3) (2.1) Debt financing costs (9.5) (0.2) Equity offering proceeds, net of underwriting discount and issuance costs 496.1 — Payment of acquisition date earnout liability (50.8) — Net cash provided (used) by financing activities 982.0 (218.3) Effect of exchange rate changes on cash 12.8 (0.6) (Decrease) increase in cash and cash equivalents (215.2) 693.8 Cash and cash equivalents at beginning of year 864.7 170.9 Cash and cash equivalents at end of year $ 649.5 $ 864.7 10 Attachment 6 Avient Corporation Business Segment Operations (Unaudited) (In millions) Operating income at the segment level does not include: special items as defined in Attachment 3; corporate general and administration costs that are not allocated to segments; intersegment sales and profit eliminations; share-based compensation costs; and certain other items that are not included in the measure of segment profit and loss that is reported to and reviewed by the chief operating decision maker.
https://www.avient.com/sites/default/files/2021-07/avnt-q2-2021-earnings-release.pdf
Three Months Ended June 30, 2021 Three Months Ended June 30, 2020 Reconciliation to Condensed Consolidated Statements of Income $ EPS $ EPS Net income from continuing operations attributable to Avient shareholders $ 68.8 $ 0.74 $ 23.0 $ 0.25 Special items, after tax (Attachment 3) 11.7 0.13 2.6 0.03 Adjusted net income / EPS - excluding special items $ 80.5 $ 0.87 $ 25.6 $ 0.28 Six Months Ended June 30, 2021 Six Months Ended June 30, 2020 Reconciliation to Condensed Consolidated Statements of Income $ EPS $ EPS Net income from continuing operations attributable to Avient shareholders $ 148.1 $ 1.60 $ 56.1 $ 0.63 Special items, after tax (Attachment 3) 14.3 0.16 11.2 0.12 Adjusted net income / EPS - excluding special items $ 162.4 $ 1.76 $ 67.3 $ 0.75 7 Attachment 2 Avient Corporation Condensed Consolidated Statements of Income (Unaudited) (In millions, except per share data) Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Sales $ 1,235.2 $ 609.1 $ 2,397.5 $ 1,320.6 Cost of sales 946.5 459.4 1,806.4 999.4 Gross margin 288.7 149.7 591.1 321.2 Selling and administrative expense 180.6 111.7 362.6 230.4 Operating income 108.1 38.0 228.5 90.8 Interest expense, net (19.5) (16.2) (38.8) (25.6) Other income, net 1.2 9.5 2.7 11.1 Income from continuing operations before income taxes 89.8 31.3 192.4 76.3 Income taxes (20.4) (7.9) (43.3) (19.8) Net income from continuing operations 69.4 23.4 149.1 56.5 Loss from discontinued operations, net of income taxes — (0.2) — (0.5) Net income 69.4 23.2 149.1 56.0 Net income attributable to noncontrolling interests (0.6) (0.4) (1.0) (0.4) Net income attributable to Avient common shareholders $ 68.8 $ 22.8 $ 148.1 $ 55.6 Earnings per share attributable to Avient common shareholders - Basic: Continuing operations $ 0.75 $ 0.25 $ 1.62 $ 0.63 Discontinued operations — — — — Total $ 0.75 $ 0.25 $ 1.62 $ 0.63 Earnings per share attributable to Avient common shareholders - Diluted: Continuing operations $ 0.74 $ 0.25 $ 1.60 $ 0.63 Discontinued operations — — — (0.01) Total $ 0.74 $ 0.25 $ 1.60 $ 0.62 Cash dividends declared per share of common stock $ 0.2125 $ 0.2025 $ 0.4250 $ 0.4050 Weighted-average shares used to compute earnings per common share: Basic 91.3 91.4 91.3 88.8 Diluted 92.4 91.8 92.3 89.4 8 Attachment 3 Avient Corporation Summary of Special Items (Unaudited) (In millions, except per share data) Special items (1) Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Cost of sales: Restructuring costs, including accelerated depreciation and amortization $ (1.5) $ (1.2) $ (3.3) $ (1.2) Environmental remediation costs (12.5) (3.1) (13.0) (3.5) Reimbursement of previously incurred environmental costs — 8.5 4.5 8.7 Acquisition related costs 1.4 — 1.4 — Impact on cost of sales (12.6) 4.2 (10.4) 4.0 Selling and administrative expense: Restructuring, legal and other (1.4) (3.5) (2.7) (5.3) Acquisition earn-out adjustments — — — (1.0) Acquisition related costs (0.2) (9.7) (3.5) (16.4) Impact on selling and administrative expense (1.6) (13.2) (6.2) (22.7) Impact on operating income (14.2) (9.0) (16.6) (18.7) Costs related to committed financing in interest expense, net — (0.5) — (0.5) Other income, net — 0.2 — 0.3 Pension settlement gain and mark-to-market adjustment — 6.9 — 6.9 Impact on income from continuing operations before income taxes (14.2) (2.4) (16.6) (12.0) Income tax benefit on above special items 3.4 0.7 4.3 2.7 Tax adjustments(2) (0.9) (0.9) (2.0) (1.9) Impact of special items on net income from continuing operations attributable to Avient Shareholders $ (11.7) $ (2.6) $ (14.3) $ (11.2) Diluted earnings per common share impact $ (0.13) $ (0.03) $ (0.16) $ (0.12) Weighted average shares used to compute adjusted earnings per share: Diluted 92.4 91.8 92.3 89.4 (1) Special items include charges related to specific strategic initiatives or financial restructuring such as: consolidation of operations; debt extinguishment costs; costs incurred directly in relation to acquisitions or divestitures; employee separation costs resulting from personnel reduction programs, plant realignment costs, executive separation agreements; asset impairments; settlement gains or losses and mark-to- market adjustments associated with actuarial gains and losses on pension and other post-retirement benefit plans; environmental remediation costs, fines, penalties and related insurance recoveries related to facilities no longer owned or closed in prior years; gains and losses on the divestiture of operating businesses, joint ventures and equity investments; gains and losses on facility or property sales or disposals; results of litigation, fines or penalties, where such litigation (or action relating to the fines or penalties) arose prior to the commencement of the performance period; one-time, non-recurring items; and the effect of changes in accounting principles or other such laws or provisions affecting reported results. (2) Tax adjustments include the net tax benefit/(expense) from one-time income tax items, the set-up or reversal of uncertain tax position reserves and deferred income tax valuation allowance adjustments. 9 Attachment 4 Avient Corporation Condensed Consolidated Balance Sheets (In millions) (Unaudited) June 30, 2021 December 31, 2020 ASSETS Current assets: Cash and cash equivalents $ 616.2 $ 649.5 Accounts receivable, net 705.2 516.6 Inventories, net 412.5 327.5 Other current assets 124.2 108.5 Total current assets 1,858.1 1,602.1 Property, net 680.1 694.9 Goodwill 1,281.7 1,308.1 Intangible assets, net 944.9 1,008.5 Operating lease assets, net 87.3 80.9 Other non-current assets 195.3 176.0 Total assets $ 5,047.4 $ 4,870.5 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Short-term and current portion of long-term debt $ 18.8 $ 18.6 Accounts payable 574.6 471.7 Current operating lease obligations 24.9 25.1 Accrued expenses and other current liabilities 316.0 285.6 Total current liabilities 934.3 801.0 Non-current liabilities: Long-term debt 1,852.2 1,854.0 Pension and other post-retirement benefits 112.6 115.0 Non-current operating lease obligations 62.8 56.0 Other non-current liabilities 299.1 332.8 Total non-current liabilities 2,326.7 2,357.8 SHAREHOLDERS' EQUITY Avient shareholders’ equity 1,768.2 1,697.1 Noncontrolling interest 18.2 14.6 Total equity 1,786.4 1,711.7 Total liabilities and equity $ 5,047.4 $ 4,870.5 10 Attachment 5 Avient Corporation Condensed Consolidated Statements of Cash Flows (Unaudited) (In millions) Six Months Ended June 30, 2021 2020 Operating Activities Net income $ 149.1 $ 56.0 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 69.5 40.8 Accelerated depreciation and amortization 1.4 — Share-based compensation expense 5.6 5.7 Changes in assets and liabilities, net of the effect of acquisitions: (Increase) decrease in accounts receivable (196.1) 16.8 (Increase) decrease in inventories (88.1) 17.4 Increase (decrease) in accounts payable 108.4 (23.5) Decrease in pension and other post-retirement benefits (9.2) (12.7) Increase (decrease) in accrued expenses and other assets and liabilities, net 27.5 (3.5) Payment of post-acquisition date earnout liability — (21.0) Net cash provided by operating activities 68.1 76.0 Investing activities Capital expenditures (42.1) (21.3) Net proceeds from divestiture — 7.1 Net cash proceeds provided by other assets (2.0) 5.2 Net cash used by investing activities (44.1) (9.0) Financing activities Debt offering proceeds — 650.0 Purchase of common shares for treasury (4.2) (13.6) Cash dividends paid (38.8) (34.3) Repayment of long-term debt (4.4) (4.2) Payments of withholding tax on share awards (4.2) (1.6) Debt financing costs — (9.7) Equity offering proceeds, net of underwriting discount and issuance costs — 496.1 Payment of acquisition date earnout liability — (32.9) Net cash (used) provided by financing activities (51.6) 1,049.8 Effect of exchange rate changes on cash (5.7) (4.5) (Decrease) increase in cash and cash equivalents (33.3) 1,112.3 Cash and cash equivalents at beginning of year 649.5 864.7 Cash and cash equivalents at end of period $ 616.2 $ 1,977.0 11 Attachment 6 Avient Corporation Business Segment Operations (Unaudited) (In millions) Operating income and earnings before interest, taxes, depreciation and amortization (EBITDA) at the segment level does not include: special items as defined in Attachment 3; corporate general and administration costs that are not allocated to segments; intersegment sales and profit eliminations; share-based compensation costs; and certain other items that are not included in the measure of segment profit and loss that is reported to and reviewed by the chief operating decision maker.
https://www.avient.com/sites/default/files/resources/Innovation_Day_-_May_2014_0.pdf
In certain cases throughout this presentation. PolyOne’s chief operating decision maker uses these financial measures to monitor and evaluate the ongoing performance of the Company and each business segment and to allocate resources.
Christopher Murphy Vice President, Research and Development Chief Innovation Officer PolyOne Corporation Page 22 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 23 Decreasing Dependence on Fossil Fuels Globalizing and Localizing • Aging population • Longer life expectancy • Healthy living • Aging in place • Environmental consciousness • Alternative energy • Resource efficiency • Biotechnology • Global leader/local expert with customized solutions • Global OEMs seeking one standard of service everywhere • Efficiency focus • Reduced size/weight • Mass transit • Alternative materials • Electric vehicles Protecting the Environment Improving Health and Wellness Alignment with Megatrends PolyOne Corporation Page 24 Innovation Drives Earnings Growth $20 $53 2006 2013 Research & Development Spending ($ millions) Specialty Platform Vitality Index Progression* *Percentage of Specialty Platform revenue from products introduced in last five years 14.3% 30.7% 2006 2013 Specialty Platform Gross Margin % 19.5% 43.0% 2006 2013 PolyOne Corporation Page 25 Prototype Frame Opportunity Scale-up & Test Market Build Business Case Commercial Launch Phase 1 Phase 2 Phase 3 Phase 4 Phase 5 4 11 5 10 6 9 3 4 2 15 9 1 10 4 Breakthrough Platform Derivative A Rich Pipeline of Opportunity Number of Projects 25 14 19 17 18 93 Addressable Market ($ millions) TBD TBD $800 $450 $450 $1,700 PolyOne Corporation Page 26 Recent Innovations Aligned with Megatrends in Key End Markets and 2015 Goals Robert M.
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Worst case 72 hours A4 If you answered “Yes” to Question (A1), does the plan establish critical business functions with recovery priorities?
ISO 14001 registration can be considered, however, when the business case shows there to be a mutual benefit with our key customers.
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Except in the case of a force majeure, if not satisfied with Seller’s determination, Buyer as its sole remedy shall have a right to terminate this contract without further obligation upon: (i) 10 days written notice; and (ii) payment for all Product received to date. 12.
In case of discrepancy between the English and Spanish versions of these terms and conditions, the Spanish version shall prevail. reconocimiento o aceptación por parte del Vendedor de un pedido de compra, reconocimiento, liberación o de cualquier otra forma presentada por el Comprador que contenga términos o condiciones adicionales o diferentes, y el Vendedor notifica por este medio al Comprador el rechazo de dichos términos y condiciones adicionales.
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In certain cases throughout this presentation. PolyOne’s chief operating decision maker uses these financial measures to monitor and evaluate the ongoing performance of the Company and each business segment and to allocate resources.
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?
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In certain cases throughout this presentation. PolyOne’s chief operating decision maker uses these financial measures to monitor and evaluate the ongoing performance of the Company and each business segment and to allocate resources.
S&P 500 PolyOne Corporation Page 9 2006 Q1 2015 2020 “Where we were” “Where we are” Platinum Vision 1) Operating Income % Specialty: Global Color, Additives & Inks 1.7% 16.2% 20%+ Global Specialty Engineered Materials 1.1% 16.3% 20%+ Designed Structures & Solutions 1.4% (2012) 2.7% 12 – 14% Performance Products & Solutions 5.5% 6.5% 10 – 12% Distribution 2.6% 5.9% 6.5 – 7.5% 2) Specialty Platform % of Operating Income 6.0% 69% 80%+ 3) ROIC 5.0% 11.4% 15% 4) Adjusted EPS Growth N/A 22 Consecutive Quarters of EPS Growth Double Digit Expansion Proof of Performance & 2020 Goals PolyOne Corporation Page 10 Platinum Vision: Pathway to Accelerated Growth Organic Sales Growth Margin Expansion Share Repurchases Acquisitions PolyOne Corporation Page 11 Innovation Drives Earnings Growth *Percentage of Specialty Platform revenue from products introduced in last five years $20 $53 2006 2014 Research & Development Spending ($ millions) Specialty Platform Vitality Index Progression* 14% 27% 2006 2014 Specialty Platform Gross Margin % 20% 44% 2006 2014 Specialty Vitality Index Target ≥ 35% PolyOne Corporation Page 12 Megatrends Aligned with Key End Markets Decreasing Dependence on Fossil Fuels Protecting the Environment Improving Health and Wellness Megatrend End Markets Globalizing and Localizing Health & Wellness Transportation Packaging Consumer PolyOne Corporation Page 13 Prototype Frame Opportunity Scale-up & Test Market Build Business Case Commercial Launch Phase 1 Phase 2 Phase 3 Phase 4 Phase 5 6 9 7 3 5 12 5 3 2 8 4 2 4 3 1 Breakthrough Platform Derivative A Rich Pipeline of Opportunity Number of Projects 14 8 18 12 22 74 Addressable Market ($ millions) $700 $600 $600 $1,900 PolyOne Corporation Page 14 60% 98% 20% 30% 40% 50% 60% 70% 80% 90% 100% 2008 Q1 2015 Pension Funding** As of March 31, 2015 Debt Maturities & Pension Funding Net Debt / EBITDA* = 2.1x $49 $317 $600 $0 $100 $200 $300 $400 $500 $600 $700 $800 2015 2020 2023 Debt Maturities As of March 31, 2015 ($ millions) Coupon Rate: 7.500% 7.375% 5.250% ** includes US-qualified pension plans only *TTM 3/31/2015 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 $0.24 $0.32 $0.40 $0.10 $0.20 $0.30 $0.40 $0.50 2011 2012 2013 2014 2015 Annual Dividend Targets that expand our: • Specialty offerings • End market presence • Geographic breadth Synergy opportunities Adjacent material solutions Repurchased over 500k shares in Q1 2015 Repurchased 11.8 million shares since early 2013 8.2 million shares are available for repurchase under the current authorization PolyOne Corporation Page 16 PolyOne Core Values Innovation Collaboration Excellence PolyOne Corporation Page 17 The New PolyOne: A Specialty Growth Company Why Invest In PolyOne?
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In certain cases throughout this presentation. PolyOne’s chief operating decision maker uses these financial measures to monitor and evaluate the ongoing performance of the Company and each business segment and to allocate resources.
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 Addressable market exceeds $40 billion PolyOne Corporation Page 17 Appendix PolyOne Corporation Page 18 +25% $262 $320 $200 $275 $350 2013 2014 Adjusted Operating Income (in millions) +22% 2014 Financial Highlights All of our segments delivered both operating income and margin expansion during the year Our specialty businesses achieved record levels of profits and profitability this year Achieved 21st consecutive quarter, or over five years, of strong, double-digit adjusted EPS growth +37% $1.31 $1.80 $1.00 $1.50 $2.00 2013 2014 Adjusted EPS $195 $242 $150 $200 $250 2013 2014 Specialty Operating Income (in millions) 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% 12-16% 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 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% Target 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% 12-16% 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Operating Income % of Sales Target 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% 8-10% 2012 2013 2014 2015 Operating Income % of Sales Target 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% 2006 2007 2008 2009 2010 2011 2012 2013 2014 Operating Income % of Sales At a Glance Performance Products and Solutions Solutions Expanding Profits 2014 Revenues: $0.8 Billion 9-12% Target 2014 Revenue by Industry Segment 2015 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 - 7.5% 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Operating Income % of Sales 15% 52% 2006 2014 At a Glance Distribution *ROIC is defined as TTM adjusted OI divided by the sum of average debt and equity over a 5 quarter period Key Suppliers 2014 Revenues: $1.1 Billion ROIC* Expanding Profits 6.1% Target http://www.polyone.com/Pages/VariationRoot.aspx PolyOne Corporation Page 24 2 lbs Plastic = 3 lbs aluminum or 8 lbs steel or 27 lbs glass 33% less material by weight than aluminum 75% less material by weight than steel 93% less material by weight than glass Requires 91% less energy to recycle a pound of plastic versus a pound of paper Source: SPI: Sustainability and the Plastics Industry Plastics: Key to Future Sustainable Development PolyOne Corporation Page 25 Commitment to Operational Excellence 81% 93% 2006 2014 16.2% 9.9% 2006 2014 On-Time Delivery Working Capital % of Sales 5% 43% 2006 2014 Percent of Associates Trained in LSS Four consecutive years – CFO Magazine Best Working Capital Management in the chemical industry World’s Best Business Process Excellence Program in 2012* 103 trained Black Belts 247 trained Green Belts 127 trained Kaizen Leaders World’s Best Start-up Program for Lean Six Sigma Deployment in 2009* *Both awards received from International Quality and Productivity Center PolyOne Corporation Page 26 Prototype Frame Opportunity Scale-up & Test Market Build Business Case Commercial Launch Phase 1 Phase 2 Phase 3 Phase 4 Phase 5 4 11 5 10 6 9 3 4 2 15 9 1 10 4 Breakthrough Platform Derivative A Rich Pipeline of Opportunity Number of Projects 25 14 19 17 18 93 Addressable Market ($ millions) TBD TBD $800 $450 $450 $1,700 PolyOne Corporation Page 27 Application Examples 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 Fast 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 4% 4% 8% 9% 9% 10% 11% 14% Western Europe North America South America MEA Easter Europe Asia Pacific China India PET 2008-13P CAGR PET Bottling Technology 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 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 Next Generation Solar Charger • Ginkgo Solar Tree charger utilizing our unique reSound™ material • reSound™ is a durable material consisting of 50% bio-derived plastic and 50% traditional petroleum-based plastic • Use of reSound™ reduced the carbon footprint for this product by 35% • reSound™ Is classified as a PolyOne Sustainable SolutionSM PolyOne Sustainable SolutionSM PolyOne Corporation Page 34 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 organoleptic properties PolyOne Corporation Page 35 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 Schedule I 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/2022-11/Packaging Anti-fog Whitepaper.pdf
Evaluation was made of the films before and after lamination—in both cases over a period of six months.