https://www.avient.com/sites/default/files/2024-12/Terms and Conditions of Sale for France %28French Translation%29.pdf
Department of the Treasury’s Office of Foreign Assets
Control, le règlement (UE) 2021/821 du Parlement européen et du Conseil du 20 mai 2021 instituant
un régime de l’Union de contrôle des exportations, du courtage, de l’assistance technique, du transit
et des transferts en ce qui concerne les biens à double usage (refonte), et toutes les sanctions
commerciales promulguées par l'UE (« lois sur le contrôle du commerce »).
https://www.avient.com/sites/default/files/2024-08/Avient-2023-Sustainability-Report_5.pdf
Associates Trained in LSS (Cumulative) LSS Projects Completed (Cumulative)
2011 2013 2015 2017 2019 2021 2023
434
996
1,854
2,718
3,161
4,172
323
1,176
2,999
4,544
6,813
7,423
Customer
Centric Selling
CCS is at the core of how we serve our
customers and collaborate with them to solve
their most pressing challenges.
GRADUATES
331
GRADUATES
148
Leadership
Development
Training per
Participant
Over
50
Hours
100
300
500
NextGen & Elevate Program Participants
311
2013 2015 2017 2019 2021 2023
216
125
47
369
479
HOME | Contents | Message from the CEO | About Us | People | Products | Planet | Performance | Metrics | Index Sustainability Report | 2023 33Sustainability Report | 2023 33
Competency Training
In 2023, we launched a global training program focused on
understanding the key behaviors in our Competency Model,
and how to best leverage them for success in an associate’s
current or future role.
D
ll
ar
(
$)
M
il
li
2017 2018 2019 2020 2021 2022 2023
$90
from products
introduced in
the last 5 years
37%
of sales
Revenue from Sustainable Solutions*
Vitality Index
Investment in Innovation
*Avient Sustainable Solutions definitions aligned with FTC 2012 Guide for the Use of Environmental Marketing Claims (“Green Guides”)
(1)2020 is Pro Forma to include full year of the Clariant Color business
(2)2022 is Pro Forma for the acquisition of APM and the divestiture of Distribution
600
800
1000
1200
1400
2016 2017 2018 2019 2020(1) 2021 2022(2) 2023
$550M
$405M
$915M
$1,135M
8% Organic CAGR
Sustainable Solutions
represent 90% of the
Innovation Pipeline
$1,175M
$790M
$455M
$340M
HOME | Contents | Message from the CEO | About Us | People | Products | Planet | Performance | Metrics | IndexHOME | Contents | Message from the CEO | About Us | People | Sustainability Report | 2023 38
Advancing a Circular Economy
As the world continues to shift from operating in a linear economy to a circular economy, Avient is proud to be a
part of the solution.
https://www.avient.com/sites/default/files/2024-08/Avient 2023 Sustainability Report_6.pdf
Associates Trained in LSS (Cumulative) LSS Projects Completed (Cumulative)
2011 2013 2015 2017 2019 2021 2023
434
996
1,854
2,718
3,161
4,172
323
1,176
2,999
4,544
6,813
7,423
Customer
Centric Selling
CCS is at the core of how we serve our
customers and collaborate with them to solve
their most pressing challenges.
GRADUATES
331
GRADUATES
148
Leadership
Development
Training per
Participant
Over
50
Hours
100
300
500
NextGen & Elevate Program Participants
311
2013 2015 2017 2019 2021 2023
216
125
47
369
479
HOME | Contents | Message from the CEO | About Us | People | Products | Planet | Performance | Metrics | Index Sustainability Report | 2023 33Sustainability Report | 2023 33
Competency Training
In 2023, we launched a global training program focused on
understanding the key behaviors in our Competency Model,
and how to best leverage them for success in an associate’s
current or future role.
D
ll
ar
(
$)
M
il
li
2017 2018 2019 2020 2021 2022 2023
$90
from products
introduced in
the last 5 years
37%
of sales
Revenue from Sustainable Solutions*
Vitality Index
Investment in Innovation
*Avient Sustainable Solutions definitions aligned with FTC 2012 Guide for the Use of Environmental Marketing Claims (“Green Guides”)
(1)2020 is Pro Forma to include full year of the Clariant Color business
(2)2022 is Pro Forma for the acquisition of APM and the divestiture of Distribution
600
800
1000
1200
1400
2016 2017 2018 2019 2020(1) 2021 2022(2) 2023
$550M
$405M
$915M
$1,135M
8% Organic CAGR
Sustainable Solutions
represent 90% of the
Innovation Pipeline
$1,175M
$790M
$455M
$340M
HOME | Contents | Message from the CEO | About Us | People | Products | Planet | Performance | Metrics | IndexHOME | Contents | Message from the CEO | About Us | People | Sustainability Report | 2023 38
Advancing a Circular Economy
As the world continues to shift from operating in a linear economy to a circular economy, Avient is proud to be a
part of the solution.
https://www.avient.com/sites/default/files/2020-03/PolyOne_Website-12.19.pdf
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/sites/default/files/2024-06/OnColor UL 94 Colorants Brochure.pdf
The tables in the next pages contain all Avient
UL 94 recognized color concentrates published on
UL prospector until March 2021.
https://www.avient.com/sites/default/files/AVNT February IR Presentation_w_Non-GAAP Recs.pdf
To provide comparable results, the company references “pro forma” financial
metrics, which include the business results of Avient Protective Materials for periods prior to the Acquisition Date, as if the transaction occurred on January 1, 2021 and reflect Distribution as a discontinued operation.
https://www.avient.com/company/sustainability/sustainability-report/reporting/gri
Avient 2021 Annual Report—Form 10-K 6-7
https://www.avient.com/sites/default/files/2024-08/Avient-2023-Sustainability-Report_6.pdf
Associates Trained in LSS (Cumulative) LSS Projects Completed (Cumulative)
2011 2013 2015 2017 2019 2021 2023
434
996
1,854
2,718
3,161
4,172
323
1,176
2,999
4,544
6,813
7,423
Customer
Centric Selling
CCS is at the core of how we serve our
customers and collaborate with them to solve
their most pressing challenges.
GRADUATES
331
GRADUATES
148
Leadership
Development
Training per
Participant
Over
50
Hours
100
300
500
NextGen & Elevate Program Participants
311
2013 2015 2017 2019 2021 2023
216
125
47
369
479
HOME | Contents | Message from the CEO | About Us | People | Products | Planet | Performance | Metrics | Index Sustainability Report | 2023 33Sustainability Report | 2023 33
Competency Training
In 2023, we launched a global training program focused on
understanding the key behaviors in our Competency Model,
and how to best leverage them for success in an associate’s
current or future role.
D
ll
ar
(
$)
M
il
li
2017 2018 2019 2020 2021 2022 2023
$90
from products
introduced in
the last 5 years
37%
of sales
Revenue from Sustainable Solutions*
Vitality Index
Investment in Innovation
*Avient Sustainable Solutions definitions aligned with FTC 2012 Guide for the Use of Environmental Marketing Claims (“Green Guides”)
(1)2020 is Pro Forma to include full year of the Clariant Color business
(2)2022 is Pro Forma for the acquisition of APM and the divestiture of Distribution
600
800
1000
1200
1400
2016 2017 2018 2019 2020(1) 2021 2022(2) 2023
$550M
$405M
$915M
$1,135M
8% Organic CAGR
Sustainable Solutions
represent 90% of the
Innovation Pipeline
$1,175M
$790M
$455M
$340M
HOME | Contents | Message from the CEO | About Us | People | Products | Planet | Performance | Metrics | IndexHOME | Contents | Message from the CEO | About Us | People | Sustainability Report | 2023 38
Advancing a Circular Economy
As the world continues to shift from operating in a linear economy to a circular economy, Avient is proud to be a
part of the solution.
https://www.avient.com/sites/default/files/2021-05/renol-ul94-compliant-masterbatches-brochure.pdf
The tables in the next pages contain all Avient
UL94 recognized color concentrates published on
UL prospector until March 2021.
https://www.avient.com/sites/default/files/2020-11/investing-in-avient_0.pdf
INVESTMENT IN COMMERCIAL RESOURCES
D R I V E S I N N O VAT I V E P R O D U C T P O R T F O L I O AN D S AL E S G R O W T H
19
160
270
2011 2019 2020E
0.16
0.20
0.26
0.34
0.42
0.50
0.58
0.72
0.79 0.81
0.85
11 12 13 14 15 16 17 18 19 20 21E
TARGET NET
LEVERAGE BY 2021
~$1Bn
REPURCHASED
OVER LAST 10 YEARS
~$350MM
PAID OVER LAST 10 YEARS
RETURNING VALUE TO SHAREHOLDERS
12
Free Cash Flow Dividends Share Repurchases Deleveraging
Strong track record of cash generation put to work in M&A and return to shareholders while modestly levered
0.1 0.1
0.2
0.5
0.6
0.7
0.8
0.9
0.9 1.0
11 12 13 14 15 16 17 18 19 20
2.9x
2020PF* 2021E
Growing Dividend Cumulative Buybacks Net Leverage
$
$
p
e
r
s
h
a
re
*2020 estimate and Pro forma for acquisition of the Clariant Masterbatch business
Cash Generation
~$270MM
Another unique value creation lever at Avient is synergy capture with our recent
acquisition of Clariant Masterbatch.