https://www.avient.com/sites/default/files/2020-08/colormatrix-reprize-brochure-8.5x11.pdf
INCREASED RECYCLE CONTENT Benefits of using rePrize include: • Increased product target IV • Improved melt flow consistency • Increased recycle content • Reduced brittleness • Reduced rejects and scrap • Improved low temperature performance rePrize can be combined with other liquid additives and can be used to optimize sheet manufacturing processes and product quality, whilst allowing for increased levels of recycle, contributing towards improved sustainability and reduced costs.
FEATURE BENEFIT • Liquid technology • More accurate dose control • Less variation in melt flow and product IV • Can be coupled to an on-line rheometer • Shorter transition times • Does not require pre-drying • Less dust • Higher IV in melt phase • Improved uniformity when replacing virgin PET in PCR sheet • Eliminate/reduce solid phase polymerization (rPET) • Increased use of post consumer flake or re-grind (Sheet) • Reduced brittleness, less breakages and scrap • More consistent melt flow IMPACT • Reduced cost • Higher productivity • Cleaner working environment PROCESS HIGHLIGHTS IMPACT • Higher productivity • Reduced cost • Cleaner working environment • New product designs and applications • Improved shelf appeal PET SHEET PROCESS BENEFITS • Increases final IV • Less variation in product IV • More consistent melt flow • Increased use of flake or regrind • Shorter transition times • Reduced scrap • Reduced dust PRODUCT BENEFITS • Improved impact strength • Improved low temperature performance • Reduced brittleness • Improved aesthetics Information and photographs supplied by Sunwell Global Ltd IMPACT • Higher productivity • Reduced cost • Improved sustainability IMPACT • Lighter weight, higher strength • Reduced cost • Properties comparable to PS packaging • Recyclable PET MONO/MULTI LAYERED SHEET XPET FOAM SHEET ROUND DIE PROCESS BENEFITS • Improved melt flow consistency • Improved IV consistency • Increased recycle content • Reduced rejects and scrap PRODUCT BENEFITS • Increased product strength • Improved low temperature performance • Reduced brittleness PROCESS BENEFITS • Increase final IV • Increased use of regrind • Impossible to start up without it • Faster product changeover • Easier to cut PRODUCT BENEFITS • Increased strength • Lighter weight • Good sealing ColorMatrix™ rePrize is a PET compatible formulated liquid dispersion, designed to increase the polymer chain length via reactive extrusion.
This results in an increase in both the polymer intrinsic and melt viscosity. rePrize is suited to applications in: • PET monolayer sheet • PET multilayered sheet • PET foamed sheet rePrize can be used to optimise sheet manufacturing processes and product quality, whilst allowing for increased levels of recycle, contributing towards improved sustainability and reduced costs PRODUCT DESCRIPTION GLOBAL REGULATORY APPROVALS PRODUCT FDA EU GB MERCOSUR rePrize • • • • 1.844.4AVIENT www.avient.com Copyright © 2020, Avient Corporation.
https://www.avient.com/sites/default/files/2025-05/Avient Announces First Quarter 2025 Results_0.pdf
We further streamlined our structure to better serve our customers and markets, controlled our direct and indirect costs, while still prioritizing investments in our growth vectors aligned to our strategy,” added Dr.
This is due to the inherent difficulty of forecasting the timing and amount of certain items, such as, but not limited to, environmental remediation costs and associated recoveries, mark-to-market adjustments on pension and other post-retirement obligations, acquisition-related charges, and other non-routine costs.
These costs are included in Corporate.
https://www.avient.com/sites/default/files/2025-07/Avient Announces Second Quarter 2025 Results.pdf
We expect momentum from our high profit portfolios in defense and healthcare markets, along with disciplined cost controls and productivity initiatives, to contribute to continued margin expansion over the prior year.”
This is due to the inherent difficulty of forecasting the timing and amount of certain items, such as, but not limited to, environmental remediation costs and associated recoveries, mark-to-market adjustments on pension and other post-retirement obligations, acquisition-related charges, and other non-routine costs.
These costs are included in Corporate.
https://www.avient.com/sites/default/files/2022-02/AVNT Q4 2021 Earnings Presentation_0.pdf
In particular, these include statements relating to future actions; prospective changes in raw material costs, product pricing or product demand; future performance; estimated capital expenditures; results of current and anticipated market conditions and market strategies; sales efforts; expenses; the outcome of contingencies such as legal proceedings and environmental liabilities; and financial results.
This is due to the inherent difficulty of forecasting the timing and amount of certain items, such as, but not limited to, restructuring costs, environmental remediation costs, acquisition-related costs, and other non- routine costs.
Whether an additional line at an existing manufacturing plant, or a new facility in a growing region, we ramp-up quickly and cost-efficiently. 26 Capex / Revenue 2022E (%) AVIENT IS ASSET LIGHT Avient Specialty Formulators Other Chemical/Specialty Companies 2 3 2 2 3 3 4 3 3 5 5 5 7 7 7 A vi e nt A vi e nt ( E xc l.
https://www.avient.com/sites/default/files/2020-08/edgetek-3d-lds-product-bulletin.pdf
Edgetek™ 3D/LDS Solutions are the advanced technologies to help customers to build 3D circuits on molded part surfaces with fewer processing steps, shorter lead times and lower production costs.
The material solutions offer high design flexibility, multi-function integration, size miniaturization and weight reduction to meet demanding manufacturing requirements without compromising production efficiency and cost.
KEY CHARACTERISTICS • Increased design flexibility • Integration of various functionalities • Miniaturization and weight reduction • Reduced initial part cost and production cost • Simplified processes • Shorter assembly times • Commercially available in Asia MARKET AND APPLICATIONS Edgetek 3D/LDS Solutions can be widely used in markets and applications with high requirements including: • Consumer electronics • Healthcare • Automotive • Communication www.avient.com Copyright © 2020, Avient Corporation.
https://www.avient.com/sites/default/files/2025-02/News Release - AVNT-2024.12.31-News Release 2.12.25 2PM_0.pdf
This is due to the inherent difficulty of forecasting the timing and amount of certain items, such as, but not limited to, environmental remediation costs and associated recoveries, mark-to-market adjustments on pension and other post-retirement obligations, acquisition-related charges, and other non-routine costs.
Three Months Ended December 31, 2024 2023 Reconciliation to Condensed Consolidated Statements of Income $ EPS(1) $ EPS(1) Net income from continuing operations attributable to Avient shareholders $ 48.3 $ 0.52 $ 27.8 $ 0.30 Special items, after-tax (Attachment 3) (18.0) (0.20) 5.4 0.06 Amortization expense, after-tax 14.8 0.17 15.0 0.16 Adjusted net income / EPS $ 45.1 $ 0.49 $ 48.2 $ 0.52 (1) Per share amounts may not recalculate from figures presented herein due to rounding Year Ended December 31, 2024 2023 Reconciliation to Condensed Consolidated Statements of Income $ EPS(1) $ EPS(1) Net income from continuing operations attributable to Avient shareholders $ 169.5 $ 1.84 $ 75.8 $ 0.83 Special items, after-tax (Attachment 3) 15.9 0.17 79.3 0.86 Amortization expense, after-tax 59.5 0.65 61.5 0.67 Adjusted net income / EPS $ 244.9 $ 2.66 $ 216.6 $ 2.36 (1) Per share amounts may not recalculate from figures presented herein due to rounding 8 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, 2024 2023 2024 2023 Sales $ 746.5 $ 719.0 $ 3,240.4 $ 3,142.8 Cost of sales 487.0 510.1 2,183.7 2,250.3 Gross margin 259.5 208.9 1,056.7 892.5 Selling and administrative expense 173.9 165.8 727.4 695.7 Operating income 85.6 43.1 329.3 196.8 Interest expense, net (25.5) (26.8) (105.6) (115.3) Other income, net 3.2 4.3 1.1 5.8 Income from continuing operations before income taxes 63.3 20.6 224.8 87.3 Income tax (expense) benefit (14.8) 7.0 (54.1) (11.0) Net income from continuing operations 48.5 27.6 170.7 76.3 Income (loss) from discontinued operations, net of income taxes — 0.8 — (0.1) Net income 48.5 28.4 170.7 76.2 Net (income) loss attributable to noncontrolling interests (0.2) 0.2 (1.2) (0.5) Net income attributable to Avient common shareholders $ 48.3 $ 28.6 $ 169.5 $ 75.7 Earnings per share attributable to Avient common shareholders - Basic: Continuing operations $ 0.53 $ 0.30 $ 1.86 $ 0.83 Discontinued operations — 0.01 — — Total $ 0.53 $ 0.31 $ 1.86 $ 0.83 Earnings per share attributable to Avient common shareholders - Diluted: Continuing operations $ 0.52 $ 0.30 $ 1.84 $ 0.83 Discontinued operations — 0.01 — — Total $ 0.52 $ 0.31 $ 1.84 $ 0.83 Cash dividends declared per share of common stock $ 0.2700 $ 0.2575 $ 1.0425 $ 1.0000 Weighted-average shares used to compute earnings per common share: Basic 91.4 91.2 91.3 91.1 Diluted 92.2 91.9 92.0 91.8 9 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, 2024 2023 2024 2023 Cost of sales: Restructuring costs, including accelerated depreciation $ (4.6) $ (2.0) $ 1.0 $ (11.9) Environmental remediation costs (6.8) (17.2) (35.0) (69.7) Reimbursement of previously incurred environmental costs 34.7 1.6 34.7 1.6 Impact on cost of sales 23.3 (17.6) 0.7 (80.0) Selling and administrative expense: Restructuring and employee separation costs (2.6) (1.1) (9.2) (14.9) Legal and other (0.3) (6.1) (10.4) (15.2) Acquisition related costs — (1.3) (2.5) (5.9) Impact on selling and administrative expense (2.9) (8.5) (22.1) (36.0) Impact on operating income 20.4 (26.1) (21.4) (116.0) Interest expense, net - financing costs — (0.1) (2.3) (2.3) Pension and post retirement mark-to-market adjustments and other 3.5 3.8 3.6 3.7 Impact on other income, net 3.5 3.8 3.6 3.7 Impact on income from continuing operations before income taxes 23.9 (22.4) (20.1) (114.6) Income tax (expense) benefit on above special items (5.8) 4.5 6.1 27.7 Tax adjustments(2) (0.1) 12.5 (1.9) 7.6 Impact of special items on net income from continuing operations $ 18.0 $ (5.4) $ (15.9) $ (79.3) Diluted earnings per common share impact $ 0.20 $ (0.06) $ (0.17) $ (0.86) Weighted average shares used to compute adjusted earnings per share: Diluted 92.2 91.9 92.0 91.8 (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 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 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 impact from non-recurring income tax items and certain adjustments to uncertain tax position reserves and valuation allowances. 10 Attachment 4 Avient Corporation Condensed Consolidated Balance Sheets (Unaudited) (In millions) Year Ended December 31, 2024 2023 ASSETS Current assets: Cash and cash equivalents $ 544.5 $ 545.8 Accounts receivable, net 399.5 399.9 Inventories, net 346.8 347.0 Other current assets 131.3 114.9 Total current assets 1,422.1 1,407.6 Property, net 955.3 1,028.9 Goodwill 1,659.7 1,719.3 Intangible assets, net 1,450.4 1,590.8 Operating lease assets, net 89.1 65.3 Deferred income tax assets 81.3 92.3 Other non-current assets 153.2 64.3 Total assets $ 5,811.1 $ 5,968.5 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Short-term and current portion of long-term debt $ 7.7 $ 9.5 Accounts payable 417.4 432.3 Accrued expenses and other current liabilities 331.0 331.8 Total current liabilities 756.1 773.6 Non-current liabilities: Long-term debt 2,059.3 2,070.5 Deferred income taxes 260.4 281.6 Other non-current liabilities 405.7 504.8 Total non-current liabilities 2,725.4 2,856.9 SHAREHOLDERS' EQUITY Avient shareholders’ equity 2,313.8 2,319.2 Noncontrolling interest 15.8 18.8 Total equity 2,329.6 2,338.0 Total liabilities and equity $ 5,811.1 $ 5,968.5 11 Attachment 5 Avient Corporation Condensed Consolidated Statements of Cash Flows (Unaudited) (In millions) Year Ended December 31, 2024 2023 Operating activities Net income $ 170.7 $ 76.2 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 179.7 188.8 Increase in environmental insurance receivable (34.0) — Deferred income tax benefit (23.8) (61.3) Share-based compensation expense 15.4 13.2 Changes in assets and liabilities, net of the effect of acquisitions: (Increase) decrease in accounts receivable (15.2) 38.6 (Increase) decrease in inventories (13.7) 24.3 Increase (decrease) in accounts payable 0.3 (22.2) Decrease in pension, retirement benefits and deferred compensation (34.3) (8.7) Taxes paid on gain on sale of business — (104.1) (Decrease) increase in environmental obligations (11.2) 38.9 Accrued expenses and other assets and liabilities, net 22.9 17.9 Net cash provided by operating activities 256.8 201.6 Investing activities Capital expenditures (121.9) (119.4) Net proceeds from divestiture — 7.3 Proceeds from plant closures 3.4 7.6 Other investing activities (2.1) 10.3 Net cash used by investing activities (120.6) (94.2) Financing activities Proceeds from long-term borrowings 650.0 — Payments on long-term borrowings (660.9) (105.8) Cash dividends paid (94.0) (90.2) Payments on withholding tax on share awards (6.4) (3.4) Debt financing costs (9.6) (2.3) Net cash used by financing activities (120.9) (201.7) Effect of exchange rate changes on cash (16.6) (1.0) Decrease in cash and cash equivalents (1.3) (95.3) Cash and cash equivalents at beginning of year 545.8 641.1 Cash and cash equivalents at end of year $ 544.5 $ 545.8 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.
These costs are included in Corporate.
https://www.avient.com/sites/default/files/2024-10/Avient Announces Third Quarter 2024 Results.pdf
This is due to the inherent difficulty of forecasting the timing and amount of certain items, such as, but not limited to, environmental remediation costs, mark-to-market adjustments associated with benefit plans, acquisition related costs, and other non-routine costs.
Three Months Ended September 30, 2024 2023 Reconciliation to Condensed Consolidated Statements of Income $ EPS(1) $ EPS(1) Net income from continuing operations attributable to Avient shareholders $ 38.2 $ 0.41 $ 5.1 $ 0.06 Special items, after-tax (Attachment 3) 6.6 0.07 32.0 0.35 Amortization expense, after-tax 15.0 0.16 15.2 0.16 Adjusted net income / EPS $ 59.8 $ 0.65 $ 52.3 $ 0.57 (1) Per share amounts may not recalculate from figures presented herein due to rounding Nine Months Ended September 30, 2024 2023 Reconciliation to Condensed Consolidated Statements of Income $ EPS(1) $ EPS(1) Net income from continuing operations attributable to Avient shareholders $ 121.2 $ 1.32 $ 48.0 $ 0.52 Special items, after-tax (Attachment 3) 33.9 0.37 73.9 0.81 Amortization expense, after-tax 44.7 0.49 46.5 0.51 Adjusted net income / EPS $ 199.8 $ 2.17 $ 168.4 $ 1.84 (1) Per share amounts may not recalculate from figures presented herein due to rounding 7 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, 2024 2023 2024 2023 Sales $ 815.2 $ 753.7 $ 2,493.9 $ 2,423.8 Cost of sales 553.8 558.4 1,696.7 1,740.2 Gross margin 261.4 195.3 797.2 683.6 Selling and administrative expense 184.2 161.0 553.5 529.9 Operating income 77.2 34.3 243.7 153.7 Interest expense, net (26.9) (30.3) (80.1) (88.5) Other (expense) income, net (0.3) 1.0 (2.1) 1.5 Income from continuing operations before income taxes 50.0 5.0 161.5 66.7 Income tax (expense) benefit (11.3) 0.1 (39.3) (18.0) Net income from continuing operations 38.7 5.1 122.2 48.7 Loss from discontinued operations, net of income taxes — — — (0.9) Net income $ 38.7 $ 5.1 $ 122.2 $ 47.8 Net income attributable to noncontrolling interests (0.5) — (1.0) (0.7) Net income attributable to Avient common shareholders $ 38.2 $ 5.1 $ 121.2 $ 47.1 Earnings (loss) per share attributable to Avient common shareholders - Basic: Continuing operations $ 0.42 $ 0.06 $ 1.33 $ 0.53 Discontinued operations — — — (0.01) Total $ 0.42 $ 0.06 $ 1.33 $ 0.52 Earnings (loss) per share attributable to Avient common shareholders - Diluted: Continuing operations $ 0.41 $ 0.06 $ 1.32 $ 0.52 Discontinued operations — — — (0.01) Total $ 0.41 $ 0.06 $ 1.32 $ 0.51 Cash dividends declared per share of common stock $ 0.2575 $ 0.2475 $ 0.7725 $ 0.7425 Weighted-average shares used to compute earnings per common share: Basic 91.3 91.1 91.3 91.1 Diluted 92.3 91.9 92.0 91.8 8 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, 2024 2023 2024 2023 Cost of sales: Restructuring costs, including accelerated depreciation $ 1.8 $ (2.1) $ 5.6 $ (9.9) Environmental remediation costs (2.4) (38.1) (28.2) (52.5) Impact on cost of sales (0.6) (40.2) (22.6) (62.4) Selling and administrative expense: Restructuring and employee separation costs (3.1) (2.0) (6.6) (13.8) Legal and other (4.3) 1.7 (10.1) (9.1) Acquisition related costs (0.4) (0.5) (2.5) (4.6) Impact on selling and administrative expense (7.8) (0.8) (19.2) (27.5) Impact on operating income (8.4) (41.0) (41.8) (89.9) Interest expense, net - financing costs (1.3) (2.2) (2.3) (2.2) Other income (loss) — — 0.1 (0.1) Impact on income from continuing operations before income taxes (9.7) (43.2) (44.0) (92.2) Income tax benefit on special items 3.5 10.8 11.9 23.2 Tax adjustments(2) (0.4) 0.4 (1.8) (4.9) Impact of special items on net income from continuing operations $ (6.6) $ (32.0) $ (33.9) $ (73.9) Diluted earnings per common share impact $ (0.07) $ (0.35) $ (0.37) $ (0.81) Weighted average shares used to compute adjusted earnings per share: Diluted 92.3 91.9 92.0 91.8 (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 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, 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 impact from non-recurring income tax items and certain adjustments to uncertain tax position reserves and valuation allowances. 9 Attachment 4 Avient Corporation Condensed Consolidated Balance Sheets (In millions) (Unaudited) September 30, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 505.7 $ 545.8 Accounts receivable, net 465.1 399.9 Inventories, net 377.8 347.0 Other current assets 108.8 114.9 Total current assets 1,457.4 1,407.6 Property, net 973.5 1,028.9 Goodwill 1,716.8 1,719.3 Intangible assets, net 1,542.5 1,590.8 Deferred income taxes 133.1 92.3 Other non-current assets 224.0 129.6 Total assets $ 6,047.3 $ 5,968.5 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Short-term and current portion of long-term debt $ 7.8 $ 9.5 Accounts payable 425.9 432.3 Accrued expenses and other current liabilities 460.8 331.8 Total current liabilities 894.5 773.6 Non-current liabilities: Long-term debt 2,059.9 2,070.5 Pension and other post-retirement benefits 63.7 67.2 Deferred income taxes 289.1 281.6 Other non-current liabilities 359.9 437.6 Total non-current liabilities 2,772.6 2,856.9 SHAREHOLDERS' EQUITY Avient shareholders’ equity 2,363.0 2,319.2 Noncontrolling interest 17.2 18.8 Total equity 2,380.2 2,338.0 Total liabilities and equity $ 6,047.3 $ 5,968.5 10 Attachment 5 Avient Corporation Condensed Consolidated Statements of Cash Flows (Unaudited) (In millions) Nine Months Ended September 30, 2024 2023 Operating activities Net income $ 122.2 $ 47.8 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 133.1 142.6 Accelerated depreciation 1.2 1.9 Share-based compensation expense 12.5 9.7 Changes in assets and liabilities: Increase in accounts receivable (65.7) (5.7) (Increase) decrease in inventories (30.2) 16.5 Decrease in accounts payable (5.7) (59.1) Taxes paid on gain on sale of business — (104.1) Accrued expenses and other assets and liabilities, net (33.2) (2.5) Net cash provided by operating activities 134.2 47.1 Investing activities Capital expenditures (80.8) (75.0) Net proceeds from divestiture — 7.3 Proceeds from plant closures 3.4 — Other investing activities (2.1) 2.3 Net cash used by investing activities (79.5) (65.4) Financing activities Proceeds from long-term borrowings 650.0 — Payments on long-term borrowings (659.1) (103.8) Cash dividends paid (70.5) (67.6) Debt financing costs (9.6) (2.3) Other financing activities (4.6) (2.3) Net cash used by financing activities (93.8) (176.0) Effect of exchange rate changes on cash (1.0) (7.2) Decrease in cash and cash equivalents (40.1) (201.5) Cash and cash equivalents at beginning of year 545.8 641.1 Cash and cash equivalents at end of period $ 505.7 $ 439.6 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.
These costs are included in Corporate.
https://www.avient.com/sites/default/files/2022-07/Avient Announces Second Quarter 2022 Results_1.pdf
This is due to the inherent difficulty of forecasting the timing and amount of certain items, such as, but not limited to, restructuring costs, environmental remediation costs, acquisition related costs, and other non-routine costs.
Three Months Ended June 30, 2022 Three Months Ended June 30, 2021 Reconciliation to Condensed Consolidated Statements of Income $ EPS $ EPS Net income attributable to Avient shareholders $ 84.7 $ 0.92 $ 68.8 $ 0.74 Special items, after tax (Attachment 3) 5.1 0.06 11.7 0.13 Adjusted net income / EPS - excluding special items $ 89.8 $ 0.98 $ 80.5 $ 0.87 Six months ended June 30, 2022 Six months ended June 30, 2021 Reconciliation to Condensed Consolidated Statements of Income $ EPS $ EPS Net income attributable to Avient shareholders $ 168.9 $ 1.83 $ 148.1 $ 1.60 Special items, after tax (Attachment 3) 12.3 0.13 14.3 0.16 Adjusted net income / EPS - excluding special items $ 181.2 $ 1.96 $ 162.4 $ 1.76 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, 2022 2021 2022 2021 Sales $ 1,302.4 $ 1,235.2 $ 2,596.2 $ 2,397.5 Cost of sales 998.6 946.5 1,998.7 1,806.4 Gross margin 303.8 288.7 597.5 591.1 Selling and administrative expense 174.3 180.6 339.4 362.6 Operating income 129.5 108.1 258.1 228.5 Interest expense, net (16.2) (19.5) (33.1) (38.8) Other income, net 1.4 1.2 0.8 2.7 Income before income taxes 114.7 89.8 225.8 192.4 Income tax expense (30.0) (20.4) (56.6) (43.3) Net income 84.7 69.4 169.2 149.1 Net income attributable to noncontrolling interests — (0.6) (0.3) (1.0) Net income attributable to Avient shareholders $ 84.7 $ 68.8 $ 168.9 $ 148.1 Earnings per share attributable to Avient common shareholders - Basic $ 0.93 $ 0.75 $ 1.85 $ 1.62 Earnings per share attributable to Avient common shareholders - Diluted $ 0.92 $ 0.74 $ 1.83 $ 1.60 Cash dividends declared per share of common stock $ 0.2375 $ 0.2125 $ 0.4750 $ 0.4250 Weighted-average shares used to compute earnings per common share: Basic 91.4 91.3 91.4 91.3 Diluted 92.1 92.4 92.2 92.3 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, 2022 2021 2022 2021 Cost of sales: Restructuring costs, including accelerated depreciation and amortization $ (2.6) $ (1.5) $ (7.0) $ (3.3) Environmental remediation costs (3.0) (12.5) (5.0) (13.0) Reimbursement of previously incurred environmental costs 7.6 — 8.2 4.5 Acquisition related costs — 1.4 — 1.4 Impact on cost of sales 2.0 (12.6) (3.8) (10.4) Selling and administrative expense: Restructuring, legal and other (4.2) (0.4) (3.3) (1.7) Acquisition related costs (2.1) (1.2) (5.0) (4.5) Impact on selling and administrative expense (6.3) (1.6) (8.3) (6.2) Impact on operating income (4.3) (14.2) (12.1) (16.6) Other income, net — — 0.1 — Mark-to-market on cross-currency swaps 0.9 — 0.9 — Impact on income before income taxes (3.4) (14.2) (11.1) (16.6) Income tax benefit on above special items 0.8 3.4 2.8 4.3 Tax adjustments(2) (2.5) (0.9) (4.0) (2.0) Impact of special items on net income attributable to Avient Shareholders $ (5.1) $ (11.7) $ (12.3) $ (14.3) Diluted earnings per common share impact $ (0.06) $ (0.13) $ (0.13) $ (0.16) Weighted average shares used to compute adjusted earnings per share: Diluted 92.1 92.4 92.2 92.3 (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, 2022 December 31, 2021 ASSETS Current assets: Cash and cash equivalents $ 645.1 $ 601.2 Accounts receivable, net 752.6 642.3 Inventories, net 494.0 461.1 Other current assets 128.4 122.4 Total current assets 2,020.1 1,827.0 Property, net 638.9 676.1 Goodwill 1,256.8 1,286.4 Intangible assets, net 867.2 925.2 Operating lease assets, net 62.7 74.1 Other non-current assets 197.9 208.4 Total assets $ 5,043.6 $ 4,997.2 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Short-term and current portion of long-term debt $ 607.7 $ 8.6 Accounts payable 634.0 553.9 Current operating lease obligations 21.4 24.2 Accrued expenses and other current liabilities 307.5 353.9 Total current liabilities 1,570.6 940.6 Non-current liabilities: Long-term debt 1,249.1 1,850.3 Pension and other post-retirement benefits 95.0 100.0 Deferred income taxes 106.6 100.6 Non-current operating lease obligations 41.8 50.1 Other non-current liabilities 154.7 165.1 Total non-current liabilities 1,647.2 2,266.1 SHAREHOLDERS' EQUITY Avient shareholders’ equity 1,809.7 1,774.7 Noncontrolling interest 16.1 15.8 Total equity 1,825.8 1,790.5 Total liabilities and equity $ 5,043.6 $ 4,997.2 10 Attachment 5 Avient Corporation Condensed Consolidated Statements of Cash Flows (Unaudited) (In millions) Six Months Ended June 30, 2022 2021 Operating Activities Net income $ 169.2 $ 149.1 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 71.1 69.5 Accelerated depreciation and amortization 3.2 1.4 Share-based compensation expense 6.3 5.6 Changes in assets and liabilities, net of the effect of acquisitions: Increase in accounts receivable (133.2) (196.1) Increase in inventories (45.9) (88.1) Increase in accounts payable 98.5 108.4 Decrease in pension and other post-retirement benefits (9.9) (9.2) (Decrease) increase in accrued expenses and other assets and liabilities, net (52.6) 27.5 Net cash provided by operating activities 106.7 68.1 Investing activities Capital expenditures (34.0) (42.1) Settlement of cross-currency swaps 75.1 — Net cash proceeds used by other assets — (2.0) Net cash provided (used) by investing activities 41.1 (44.1) Financing activities Purchase of common shares for treasury (36.4) (4.2) Cash dividends paid (43.5) (38.8) Repayment of long-term debt (4.4) (4.4) Payments of withholding tax on share awards (4.1) (4.2) Net cash used by financing activities (88.4) (51.6) Effect of exchange rate changes on cash (15.5) (5.7) Increase (decrease) in cash and cash equivalents 43.9 (33.3) Cash and cash equivalents at beginning of year 601.2 649.5 Cash and cash equivalents at end of period $ 645.1 $ 616.2 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.
These costs are included in Corporate and eliminations.
https://www.avient.com/sites/default/files/Avient Climate Change Scenario Analysis Summary 2022.pdf
CLIMATE-RELATED SCENARIOS ANALYZED Global operations through 2050 PARAMETERS & ASSUMPTIONS EXCEED 2.5°C EXCEED 2.0°C RETURN BELOW 1.5°C IMPACT DRIVER & TIME HORIZON NET ZERO FUTURE PLEDGING PROGRESS STEADFAST POLICY Policy & Legal Risk M L Carbon pricing exposure in USA, China, Germany and Spain Fines and/or compliance measures: · Clean electrification of operations; · Emissions intensive equipment phase-out; · Circular economic and materials efficiency strategies; · Net-zero carbon building standards; · Mandatory energy management systems and audits Carbon pricing exposure in USA, China, Germany, Spain, and Saudi Arabia Increased fines and compliance measures related to: · Phase-outs aligned with Nationaly Determined Contributions (NDC); · Renewable energy sourcing; · Material efficiency standards (minimum recycled content for packaging, and enhanced vechicle air quality) Some regional carbon pricing exposure in China, Germany and Spain Technology Risk S M Capital expenditures to subsitute emissions intensive technologies Declining price point competitiveness caused by decarbonization pass through costs R&D costs to transition to design and deploy lower-emissions technologies Slower substitution of materials with lower- emission options Market Risk S M Declining redundant supply and sourcing more sustainably causes raw material costs to rise Customers demand to lower their scope 3 emissions from purchased goods and services across all markets Increasing competition from existing and unforeseen polymer and non-polymer- based products that reduce further impact on climate Customer behaviors from advanced economies demand lower carbon products Rising degree of uncertainty in raw material prices Slow customer behavior changes in some advanced economies High degree of uncertainty in energy market signals Reputation Risk L Chemical sector or certain petrochemical materials (i.e., plastics) stigmatized Rising expectations for rapid innovation and displacement of older, heavily carbon- intensive designs and manufacturing processes NDC countries expected to innovate and seek rapid minimization of customers' scope 3 emissions Increased concern from stakeholders for not addressing climate change globally or for the chemicals sector Acute & Chronic Risk L Possible direct damage to fixed assets and logistics disruptions in both our value chain and operations More frequent and intense weather events and changing preciptation patterns are likely to damage manufaturing faciliites, disrupt logistics and sourcing activities, and negatively affect employee health and communities where we operate More frequent and intense weather events and changing preciptation patterns are likely to affect the performance of grids and thermal plants while pushing up demand for cooling, damage fixed assets, disrupt logistics and sourcing activities, and negatively affect employee health and communities where we operate IMPACT DRIVER & TIME HORIZON NET ZERO FUTURE PLEDGING PROGRESS STEADFAST POLICY Resource Efficiency Opportunity S M L More efficient production and distribution processes, reduced natural resource usage, continued use of recycling, and inclusion of recycled materials in our products such as reSoundTM R, ColorMatrix™ Capture™ Oxygen Scavenger, among others will contribute to increasing product revenues and reduced operating costs Resource efficiency efforts supported by capital allocation in NDC countries is more likely and may accelerate a path toward maximizing ROI and reducing operating costs Less regulatory and pressure to incentivize may cause gains from efforts to lag Energy Source Opportunity M L Use of greater external financing options, such as operating lease arrangements or energy performance shared savings contracts, to source lower emission-energy and new technologies, such as carbon capture, utilization & storage (CCUS), in our operations may reduce operating costs and maximize returns on investment Use of lower emission-sources of energy in operations will lower operating costs and contribute toward reductions of our scope 1 and 2 emissions and product carbon intensities Use of renewable energy, increased efficiency, and electrification initiatives will lower operating costs and contribute toward reductions of our scope 1 and 2 emissions and product carbon intensities.
In 2021, we successfully completed the pre-registration for UK REACH post Brexit. · Net zero (1.5C) aligned policies related to procurement decisions, supplier and regulatory engagement, decarbonzation pathways, product pipeline have not fully been established, but is something we are considering · Further enhancement of policies to support the due diligence efforts of M&A opportunities that include climate-related criteria may benefit our decision-making · In 2022, Avient instituted our first internal cost of carbon to better prioritize low-carbon investments · We are constructing a detailed decarbonization pathway aligned to our existing 2030 goal.
We are developing a Supplier Sustainability Program designed to address quality, cost and reliability requirements, and a range of sustainability, social responsibility and environmental considerations. .
https://www.avient.com/sites/default/files/2024-12/Oncolor Lux Colorants - PP Cap - case study snapshot.pdf
INHALER ROLL BRAND P P I N H A L E R R O L L C A P • Provide green glow-in-the-dark effect colorants • Offer good glowing performance but with a low dosage • Meet a short delivery lead-time and cost-effective solution • Met customer’s glowing effect requirement of more than 8 hours with a 2% dosage • Offered strong product innovation ability to support customer’s product differentiation with special effects • Provided a short lead time and cost- effectiveness with local production OnColor Lux Colorants KEY REQUIREMENTS WHY AVIENT?
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