https://www.avient.com/sites/default/files/resources/Specialty%2520Inks%2520-%2520BU%2520Overview.pdf
SOME OF OUR FIRSTS • Development of the industry’s first plastisol color mixing system for screen printing ink • Introduction of the first automated ink dispensing equipment OUR SPECIALTY INKS • Broadest range of specialty screen printing inks, including: non-phthalate PVC plastisol, water-based, silicone, and non-PVC plastisol • Ink room solutions including inventory management software • Strong expertise in R&D and product development • Demonstrated technical service and color matching capabilities • Highly efficient manufacturing operations • Global manufacturing footprint and customer reach OUR BRANDS • Wilflex is a leading brand of specialty screen printing inks with a focus on total ink-room management, providing the most efficient, cost-effective environment possible • Rutland is a leading brand of specialty screen printing inks for the textile industry with a strong commitment to making the screen printing process easier, more attractive and more profitable for customers • Union Ink is a brand dedicated to providing the broadest range of innovative and inspired screen printing inks with the highest opacity mixing systems in the market • Printop is a leading brand of textile screen printing inks in Latin America including plastisols, water-based, and discharge inks • QCM is a trusted brand of cost- effective, high quality inks for one of the most recognizable products in the world, the printed t-shirt SPECIALTY INKS GLOBAL FOOTPRINT • Five manufacturing facilities in Kennesaw, Georgia; Pineville, North Carolina; Lima, Peru, Shenzhen, China; and Mumbai, India (JV) • Warehouse and distribution facilities in Georgia, North Carolina and Ohio in the US, Paddock Wood and Widnes, U.K., and Singapore • Global presence of distributors located in over 60 countries Copyright © 2018, PolyOne Corporation.
https://www.avient.com/sites/default/files/2025-06/LFT Brackets Application Bulletin.pdf
Weight Reduction • LFT has lower density vs. metal, but still meets structural performance requirements • Lightweighting helps meet sustainability goals related to lower fuel consumption and extended vehicle range Design Flexibility • Injection molding allows for complex geometries and part consolidation • Advanced modeling and computer-aided engineering (CAE) tools for long fiber composites help validate and optimize part design APPLICATION BULLETIN COMPARING PRODUCTION COST DRIVERS Cast Metal Stamped Metal Long Fiber Composite Material typically used Aluminum Steel Various base resins based on environmental conditions Casting X Stamping X Injection Molding X Machining X Not typically needed as LFT is a one-step process Drilling X Welding X Surface Treatments X X po st -p ro ce ss pr oc es s MATERIAL CHARACTERISTICS Characteristic Long Fiber Composite Aluminum Steel Specific Gravity (g/cc) 1.03–1.71 2.76 7.8–7.9 Specific Strength (Strength-to-Weight ratio) Excellent Good Poor Stiffness Fair Good Excellent Toughness/Fatigue Excellent Fair Fair Creep Good Excellent Excellent Corrosion Resistance Excellent Good Poor Temperature Range Performance Good Excellent Excellent Cycle Time Excellent Good Poor Design Freedom (i.e., complex geometry, part consolidation) Excellent Fair Fair Raw Material Cost Poor Good Fair Total Production Cost Good Fair Fair pr od uc ti on pe rf or m an ce Avient offers a range of customizable long fiber reinforced structural material solutions and design support for your metal-to-plastic conversion projects. • Complēt™ long glass, long carbon, and hybrid fiber solutions available in a wide array of engineering polymer matrices, including PA66, PA6, ETPU, PPA, PPS, PES, PEI, PK, and PEEK • OnForce™ long glass fiber reinforced polypropylenes • Full suite of design and engineering services that include structural design and fiber orientation consultations and modeling, CAE analysis, prototyping, and more STRENGTH-TO-WEIGHT RATIO OF LFT VS METALS m eg ap as ca l gram /cubic centim eter 250 200 150 100 50 0 9.00 8.00 7.00 6.00 5.00 4.00 3.00 2.00 1.00 0.00 Zam ak 3 Stainless Steel 304 Titanium #2 Com plēt LCF40-PP Com plēt LGF60-TPU OnForce LGF50-PP Alum inum A380 M agnesium AZ91D Com plēt LCF50-PA66 Com plēt LGF60-PA66 Com plēt LCF50-TPU Specific Strength Density Metal Long Glass Fiber Long Carbon Fiber 1.844.4AVIENT www.avient.com Copyright © 2025, Avient Corporation.
https://www.avient.com/sites/default/files/2022-02/AVNT Q4 2021 Earnings Presentation_0.pdf
They are based on management’s expectations that involve a number of business risks and uncertainties, any of which could cause actual results to differ materially from those expressed in or implied by the forward-looking statements.
APPENDIX Performance Additives 15% Pigments 13% TiO2 11% Dyestuffs 3%Polyethylene 12% Nylon 6% Polypropylene 5% Other Raw Materials 30% Styrenic Block Copolymer 5% ~40% hydrocarbon based (Grey shaded materials are hydrocarbon based, includes portion of “Other Raw Materials”) Non-hydrocarbon based materials 31 • Significant raw material price inflation and tight inventory continued in Q4 2021 o For the full year, the average cost of hydrocarbon based materials was up 50% in 2021 o For the full year, the average cost of non- hydrocarbon based materials was up 12% in 2021 • Additionally, we continued to experience other supply chain challenges during Q4 related to raw material spot purchases, freight constraints and productivity loss as a result of these shortages Annual Purchases RAW MATERIAL AND SUPPLY CHAIN UPDATE Based on 2021 purchases, excludes Distribution business SEGMENT DATA U.S. & Canada 50% EMEA 25% Asia 16% Latin America 9% 2021 SEGMENT, END MARKET AND GEOGRAPHY 33 GEOGRAPHY REVENUESEGMENT FINANCIALS Consumer 23% Packaging 19% Industrial 16% Building and Construction 10% Telecommunications 4% Energy 2% END MARKET REVENUE (1) Total company sales and adjusted EBITDA of $4,819M and $581M, respectively, include intercompany sales eliminations and corporate costs $2,402M $409M $919M $164M $1,631M $94M Sales EBITDA Distribution Specialty Engineered Materials Color Additives and Inks $581M$4,819M (1) Transportation 11% Healthcare 15% Packaging 34% Consumer 21% Healthcare 8% Industrial 16% Building & Construction 10% Transportation 9% Energy 1% Telecommunications 1% C O L O R , A D D I T I V E S & I N K S 2021 REVENUE | $2 .4 BILL ION US & Canada 32% EMEA 40% Asia 21% Latin America 7% END MARKET REGION 34 All charts reflect 2021 financials S P E C I A LT Y E N G I N E E R E D M AT E R I A L S Consumer 27% Healthcare 10% Packaging 7% Telecommunications 16% Transportation 11% Industrial 11% Building & Construction 11% Energy 7% 2021 REVENUE | $919 MILLION END MARKET US & Canada 55% EMEA 25% Asia 20% REGION 35 All charts reflect 2021 financials DI S TR IBU T I ON Healthcare 26% Consumer 23% Packaging 5% Industrial 20% Transportation 16% Building and Construction 8% Energy 1% Telecommunications 1% US & Canada 80% Asia 3% Latin America 17% END MARKET REGION K E Y S U P P L I ER S 2021 REVENUE | $1 .6 B ILL ION 36 All charts reflect 2021 financials TOTA L C O M PA N Y R E G I O N A L S A L E S BY END MARKET Packaging 30% Consumer 26%Healthcare 13% Industrial 14% Building & Construction 5% Telecommunications 2% Energy 2% Asia (16% of sales) Transportation 8% Packaging 32% Consumer 13% Healthcare 5% Industrial 17% Building & Construction 12% Telecommunications 5% Energy 4% EMEA (25% of sales) Transportation 12% 37 Consumer 25% Healthcare 19% Packaging 10% Industrial 17% Building & Construction 10% Telecommunications 4% Energy 2% US & Canada (50% of sales) Transportation 13% Packaging 38% Consumer 33% Healthcare 8% Industrial 10% Building & Construction 5% Telecommunications 1% LATAM (9% of sales) Transportation 5% All charts reflect 2021 financials Reconciliation of Non-GAAP Financial Measures (Unaudited) (Dollars in millions, except for per share data) Senior management uses comparisons of adjusted net income from continuing operations attributable to Avient shareholders and diluted adjusted earnings per share (EPS) from continuing operations attributable to Avient shareholders, excluding special items, to assess performance and facilitate comparability of results.
Senior management believes the measures described above are useful to investors because they allow for comparison to Avient's performance in prior periods without the effect of items that, by their nature, tend to obscure Avient's operating results due to the potential variability across periods based on timing, frequency and magnitude.
https://www.avient.com/sites/default/files/2020-09/stat-tech-tri-fold-processing-guide.pdf
Base Resin PC PC/PSU PES PEI PP ABS PEEK PA Barrel Temperatures* °F (°C) Rear Zone 530–560 (277–293) 550–575 (288–302) 660–700 (349–371) 675–725 (357–385) 390–420 (199–216) 425–460 (219–238) 680–730 (360–388) 430–500 (221–260) Center Zone 515–560 (269–288) 540–565 (282–296) 650–690 (343–366) 655–710 (352–377) 380–405 (193–207) 415–450 (213–232) 670–710 (354–377) 420–490 (216–254) Front Zone 510–525 (266–274) 530–555 (277–291) 640–680 (338–360) 655–700 (346–371) 370–395 (188–202) 405–440 (207–227) 650–690 (343–366) 410–480 (210–249) Nozzle 520–535 (271–280) 540–565 (282–296) 650–690 (343–366) 665–710 (352–377) 380–400 (193–204) 415–450 (213–232) 660–700 (349–371) 420–490 (216–254) Melt Temperature 525–560 (274–293) 530–580 (277–304) 650–700 (343–371) 660–730 (349–388) 375–395 (191–202) 410–460 (210–238) 650–730 (343–388) 420–500 (216–260) Mold Temperature 175–250 (80–121) 160–220 (71–104) 280–350 (138–177) 275–350 (135–177) 100–135 (38–57) 150–180 (66–82) 300–425 (149–219) 160–230 (71–110) Pack & Hold Pressure 50%–75% of Injection Pressure Injection Velocity in/s 0.5–2.0 Back Pressure psi 50 Screw Speed rpm 40–70 40–70 40–70 40–70 40–70 40–70 40–70 40–70** Drying Parameters °F (°C) 6 hrs @ 250 (121) 4 hrs @ 250 (121) 4 hrs @ 275 (135) 4 hrs @ 250 (121) 3 hrs @ 300 (150) 2 hrs @ 200 (93) 3 hrs @ 275 (135) 4 hrs @ 180 (82) Cushion in 0.125–0.250 Screw Compression Ratio 2.0:1–2.5:1 2.0:1–2.5:1 2.5:1–3.5:1 2.5:1–3.5:1 2.5:1–3.5:1 2.5:1–3.5:1 2.5:1–3.5:1 2.5:1–3.5:1 Nozzle Type General Purpose General Purpose General Purpose General Purpose General Purpose General Purpose General Purpose Reverse Taper Clamp Pressure 5–6 Tons/in2 * A reverse temperature profile is important to obtain optimum conductive properties.
Gate type should be selected based on location and part geometry. • Gate diameters equivalent to 50%–75% of the average wall thickness are recommended. • Land lengths of 0.020"–0.035" (0.50mm–0.90mm) are typically recommended.
Cold Slug Wells • Place these wells at the base of the sprue to capture the cold material first emerging from the nozzle. • Place wells at every 90° bend in the runner system. • Well depths approximately 1.5 times the diameter of the runner provide the best results.
https://www.avient.com/sites/default/files/resources/HIGH_PERFORMANCE_CLEAR_THERMOPLASTICS_ELASTOMER.pdf
Formulation Development Based on the market feedback, the developmental TPE needed to meets three major general requirements;, clarity, heat resistance and softness.
It is difficult to make a judgement of clarity from the difference of morphology based on TEM pictures.
After normalized by ratio of specific gravity, SBC compound has a stronger tensile and tear strength than silicone based on weight.
https://www.avient.com/sites/default/files/2020-12/therma-tech-processing-guide.pdf
Injection Molding Parameters Base Resin PPA PPS PA 6/6 PA 12 Barrel Temperatures °F (°C)* Rear Zone 550–580 (288–305) 550–580 (288–305) 440–490 (227–254) 440–480 (227–250) Center Zone 560–600 (293–316) 560–615 (293–324) 470–510 (243–266) 460–510 (238–266) Front Zone 580–620 (304–327) 590–630 (310–333) 490–540 (254–282) 480–520 (250–271) Nozzle 575–615 (302 –324) 600–625 (316–330) 520–570 (271–300) 500–530 (260–277) Melt Temperature °F (°C) 575–615 (302–324) 600–625 (316–330) 520–570 (271–300) 500–530 (260–277) Mold Temperature °F (°C) 250–300 (121–150) 250–300 (121–150) 150–200 (66–93) 150–200 (66–93) Pack and Hold Pressure 50–80% of Injection Pressure Injection Velocity 1.0–3.0 in/sec Back Pressure 25–100 psi Screw Speed 25–75 rpm Drying Parameters °F (°C) 6 hours @ 175 (80) 6 hours @ 300 (150) 3 hours @ 180 (82) 3 hours @ 180 (82) Cushion 0.125–0.250 in Screw Compression Ratio 2.5:1–3.5:1 2.0:1–2.5:1 2.5:1–3.5:1 2.5:1–3.5:1 Nozzle Type General Purpose General Purpose Reverse Taper Reverse Taper Clamp Pressure 4–5 tons/in2 of projected area of cavities and runner system * Barrel temperatures should be elevated for compounds designed for electrical insulative properties.
Gate type should be selected based on location and part geometry. 2.
Place these wells at the base of the sprue to capture the cold material first emerging from the nozzle. 2.
https://www.avient.com/sites/default/files/2023-10/LubriOne Product Selection Guide.pdf
LUBRIONE™ INTERNALLY LUBRICATED FORMULATIONS PRODUCT SELECTION GUIDE PRODUCT DESCRIPTION UNITS TEST METHOD NN–000/15T BLACK NN–20GF– 10GB/13T–2S BLACK NN–30GF/10T WHITE LB8900-0001 30GF/15T NATURAL LB8900-0002 30GF/13T-2S NATURAL LB8900-0003 18T-2S NATURAL ATT–000/5T BLACK AT–000/18T– 2S NATURAL 5209 FPL 20 NATURAL PS–30GF/2S NATURAL LB5210–0237 1B NATURAL PC–10CF/15T BLACK Base Polymer PA 66 PA 66 PA 66 PK PK PK POM POM POM PBT PP PC General Properties Specific Gravity g/cm3 ASTM D792 1.23 1.46 1.47 1.56 1.55 1.33 1.38 1.47 1.51 1.54 1.13 1.31 Molding Shrinkage ASTM D955 Flow % 1.0–2.0 0.20–0.50 0.50–1.0 0.30–0.60 0.20–0.40 1.7–2.3 1.5–2.0 2.0–3.0 2.0–3.0 0.20–0.40 0.10–0.30 0.10–0.30 Water Absoprtion (23°C, 24 hr.) % ASTM D570 0.8 – 0.050–1.0 0.3 0.4 0.4 0.050 – 0.050 – – – Mechanical Properties Tensile Modulus(1) MPa ASTM D638 2650 9650 9790 8050 7380 1250 965 1770 2420 8620 4140 – Tensile Strength(1) (Yield) MPa ASTM D638 61.4 119 122 119 94 47 35 40 45 108 72.4 90 Tensile Elongation(1) (Break) % ASTM D638 3.0–5.0 1.0–3.0 1.5 3 2 35 40 30 26 3 – – Flexural Modulus MPa ASTM D790 2760 6890 6890 7380 6410 1300 1080 1740 1790 6690 4840 5500 Flexural Strength MPa ASTM D790 108 172 214 182 167 55 41.4 62.7 68.3 165 110 130 Coefficient of Friction ASTM D1894 vs.
Steel – Static 0.25 0.46 0.18 0.15 0.12 0.19 0.11 0.14 0.13 0.24 0.17 0.17 Impact Notched Izod Impact (23°C, 3.18 mm, Injection Molded) J/m ASTM D256A 41 64(6) 110 107 107 70 80 37 37 75 – 69 Thermal Properties Heat Deflection Temperature ASTM D648 0.45 MPa °C 215(6) – 250 215 216 184 152 151(6) 153(6) 218(6) – – 1.8 MPa °C 65(6) 239(7) 244(6) 210 210 75 94 81.1(6) 88 197(6) – 135(5) Electrical Properties Surface Resistivity ohms/sq ASTM D254 – – – 1.30x1012 1.9x1012 5.2x1012 – – – – – 1.0x109 Dielectric Strength (Short Time) kV/mm – – 8.5 – – – – – – – – – Flammability Flame Rating Class UL 94 HB – – HB HB HB – HB – – – – LubriOne™ Internally Lubricated Formulations NOTES (1) Type I, 5.1mm/min (2) Type I, 21.3 mm/min (3) Type I, 50 mm/min (4) Type I, 5.1mm/min, Break (5) 3.2 mm thick, Unannealed (6) 6.35 mm thick, Unannealed (7) 3.2 mm thick, Annealed PRODUCT DESCRIPTION UNITS TEST METHOD LB6000- 5024 RS HI Natural LB6000- 5021 RS S1 Black LB6000- 5021 RS X2 Black LB6000- 5019 X1 Black LB6700- 5001 RS AF Black NN- 000/01M Black SO REC LB6600- 5030 RS Grey LB3300- 5010 RS Natural LB3300- 5005 RS Natural REC LB3220- 5001 RS C Natural X1 LB8900- 5010 GP Grey LB8900- 5006 RS PE Natural LB8900- 5004 RS PE Natural LB4200- 5022 Black LB4200- 5023 Natural Base Polymer PA 6 PA6/PA66 PA66 PBT PC PKE POM Lubricant UHMWPE1 UHMWPE UHMWPE UHMWPE UHMWPE MoS22 Graphite UHMWPE UHMWPE UHMWPE Graphite UHMWPE UHMWPE MoS2 UHMWPE Filler type GF10 GF30 GF30 GF50 GF50 Unfilled GF33 GF20 MI20 GF10 Unfilled GF20 GF30 Unfilled Unfilled General Properties Specific Gravity g/cm3 ISO 1183 1.18 1.35 1.39 1.55 1.58 1.14 1.44 1.42 1.46 1.23 1.26 1.34 1.43 1.4 1.35 Mechanical Properties Tensile Modulus (23°C) MPa ISO 527-1 4250 9500 9000 15500 16600 3500 10600 6300 3330 4000 1630 5300 9250 2470 2150 Tensile Strength (Yield, 23°C) MPa ISO-527-2 97 150 160 205 200 85 164 102 55 60 60 108 99.1 55 50 Tensile Elongation (Break, 23°C) % ISO-527-2 12 2.5 3 2.7 2.4 3.4 2.0 4.2 8 2.5 46 3.7 1.5 11 11 Flexural Strength (23°C) MPa ISO 178 103 – – 285 265 108 215 127 78 85 38 155 117 73 68 Flexural Modulus (23°C) MPa ISO 178 3250 – – 12400 11100 2690 9000 4700 3000 3100 1380 4600 5450 2210 2070 Impact Charpy Notched Impact Strength (23°C, Injection Molded) kJ/m^2 ISO 179 14 12 10 15 10 3 6 7.7 4.3 12 15 10 7.6 8 5 Charpy Unnotched Impact Strength (23°C, Injection Molded) kJ/m^2 ISO 179 82 55 61 75 60 65 50 47 69 - NB 63 36 NB NB Thermal Properties Deflection Temperature Under Load 1.8 Mpa, Unannealed °C ISO 75-2/A 107 – – 204 – 73 235 – – – 90 210 204 86 80 Cofficient of Friction (CoF) & Wear Rate CoF vs.
These properties, coupled with a wide array of base engineering thermoplastics, deliver the distinct benefits of LubriOne: • Reduced friction and heat buildup between interacting surfaces • Reduced noise and vibration among components in relative motion • Reduced weight and improved design freedom • Lower long–term maintenance costs when grease and other lubricants are eliminated Copyright © 2023, Avient Corporation.
https://www.avient.com/sites/default/files/2021-05/avnt-first-quarter-2021-earnings-presentation.pdf
They are based on management’s expectations that involve a number of business risks and uncertainties, any of which could cause actual results to differ materially from those expressed in or implied by the forward-looking statements. .
Develop and implement solutions to end plastic waste while supporting AEPW $1.5B investment in key initiatives. 2030 SUSTAINABILITY TARGETS 15 PEER COMPARISONS 16 $442 $457 $560 2019PF 2020PF 2021E $1.74 $1.93 $2.80 2019PF 2020PF 2021E FULL YEAR 2019 – 2021 ORGANIC GROWTH (TOTAL COMPANY) 17 Sales Adjusted EBITDA $3,981 $3,783 $4,300 2019PF 2020PF 2021E + 8% Adjusted EPS (1) Financial information is pro forma to include a full year of Clariant Masterbatch business acquisition (1) (1) (in millions) (in millions) (1)(1) + 27% + 61% (1) (1) As a specialty formulator, we don’t require significant capital investment, as compared to the base resin raw material suppliers we purchase from.
APPENDIX Performance Additives 15% Pigments 15% TiO2 12% Dyestuffs 4%Polyethylene 10% Nylon 5% Polypropylene 4% Other Raw Materials 29% Styrenic Block Copolymer 6% ~1/3 hydrocarbon based (Grey shaded materials are hydrocarbon based, includes portion of “Other Raw Materials”) Non-hydrocarbon based materials 23 • Exiting 2020, the majority of hydrocarbon based raw material markets were experiencing price inflation and tight inventory • Winter Storm Uri in the Gulf Coast caused further stress on the situation for 2021 • Raw materials most impacted include polyethylene, polypropylene and nylon • We purchase over 8,000 different raw materials to formulate our customized solutions and unique specifications Annual Purchases RAW MATERIAL UPDATE Based on 2020 pro forma purchases, excludes Distribution SEGMENT DATA U.S. & Canada 50% EMEA 26% Asia 16% Latin America 8% 2020 SEGMENT, END MARKET AND GEOGRAPHY 25 GEOGRAPHY REVENUESEGMENT FINANCIALS Consumer 23% Packaging 21%Industrial 15% Wire & Cable 6% Building & Construction 6% Electrical & Electronics 4% END MARKET REVENUE Transportation 10% Healthcare 15% All data reflects 2020 Pro forma for acquisition of the Clariant Masterbatch business. (1) The total company sales and EBITDA of $3,783M and $457M, respectively, include intercompany sales eliminations and corporate costs $2,043M $331M $709M $124M $1,110M $70M Sales EBITDA Distribution Specialty Engineered Materials Color Additives and Inks $457M$3,783M (1) Packaging 35% Consumer 23% Healthcare 8% Industrial 14% Building & Construction 8% Transportation 7% Wire & Cable 3% Electrical & Electronics 2% C O L O R , A D D I T I V E S & I N K S 2020 PF REVENUE | $2 .0 BILLION US & Canada 31% EMEA 40% Asia 22% Latin America 7% END MARKET REGION 26 2020 figures Pro forma for acquisition of the Clariant Masterbatch business S P E C I A LT Y E N G I N E E R E D M AT E R I A L S Consumer 24% Healthcare 10% Packaging 6% Wire & Cable(1) 24% Electrical & Electronics 13% Transportation 11% Industrial 10% Building & Construction 2% 2020 REVENUE | $709 MILLION END MARKET US & Canada 58% EMEA 23% Asia 19% REGION 27 (1) Approximately 50% of Wire and Cable sales are associated with Fiber Optic Cabling DI S TR IBU T I ON 2020 REVENUE | $1 .1 B ILL ION Healthcare 29% Consumer 25% Packaging 2% Industrial 20% Transportation 14% Electrical & Electronics 5% Building & Construction 4% Wire & Cable 1% US & Canada 82% Asia 3% Latin America 15% END MARKET REGION K E Y S U P P L I ER S 28 TOTA L C O M PA N Y R E G I O N A L S A L E S BY END MARKET Packaging 32% Consumer 27% Healthcare 12% Industrial 6% Wire & Cable 6% Building & Construction 4% Electrical & Electronics 9% Asia (16% of sales) Transportation 4% Packaging 34% Consumer 16%Healthcare 5% Industrial 17% Wire & Cable 10% Building & Construction 8% Electrical & Electronics 3% EMEA (26% of sales) Transportation 7% 2020 figures Pro forma for acquisition of the Clariant Masterbatch business 29 Transportation 10% Consumer 26% Healthcare 19% Packaging 13% Industrial 16% Wire & Cable 7% Building & Construction 5% Electrical & Electronics 4% US & Canada (50% of sales) Packaging 45% Consumer 29% Healthcare 6% Industrial 8% Building & Construction 3% Electrical & Electronics 2% Wire & Cable 1% LATAM (8% of sales) Transportation 6% Reconciliation of Non-GAAP Financial Measures (Unaudited) (Dollars in millions, except for per share data) Three Months Ended March 31, 2021 Reconciliation to Condensed Consolidated Statements of Income GAAP Results Special Items Adjusted Results Income from continuing operations before income taxes $ 102.6 $ 2.4 $ 105.0 Income tax expense - GAAP (22.9) — (22.9) Income tax impact of special items — (0.9) (0.9) Tax adjustments — 1.1 1.1 Net income attributable to noncontrolling interests (0.4) — (0.4) Net income from continuing operations attributable to Avient shareholders $ 79.3 $ 2.6 $ 81.9 Net income / EPS $ 0.86 0.03 $ 0.89 Weighted-average diluted shares 92.2 92.2 92.2 Reconciliation to Consolidated Statements of Income Three Months Ended March 31, 2021 Operating income - GAAP $ 120.4 Special items in operating income 2.4 Adjusted Operating income $ 122.8 1 Business Segment Operations Three Months Ended March 31, Year Ended December 31, 2021 2020 2020 2019 2018 Sales: Color, Additives and Inks $ 609.3 $ 256.5 $ 1,502.9 $ 1,003.8 $ 1,046.5 Specialty Engineered Materials 216.5 185.3 708.8 745.7 645.8 Distribution 362.7 289.5 1,110.3 1,192.2 1,265.4 Corporate and eliminations (26.2) (19.8) (79.9) (79.0) (76.7) Sales $ 1,162.3 $ 711.5 $ 3,242.1 $ 2,862.7 $ 2,881.0 Gross margin: Color, Additives and Inks $ 197.5 $ 89.4 $ 484.4 $ 338.4 $ 353.4 Specialty Engineered Materials 64.7 52.6 207.6 200.2 171.7 Distribution 39.3 33.6 124.0 132.1 125.8 Corporate and eliminations 0.9 (4.1) (31.7) (13.5) (26.1) Gross margin $ 302.4 $ 171.5 $ 784.3 $ 657.2 $ 624.8 Selling and administrative expense: Color, Additives and Inks $ 108.7 $ 48.9 $ 303.6 $ 191.0 $ 194.9 Specialty Engineered Materials 30.5 30.3 113.2 116.5 99.4 Distribution 15.3 14.2 54.5 56.7 54.3 Corporate and eliminations 27.5 25.3 123.7 136.2 97.6 Selling and administrative expense $ 182.0 $ 118.7 $ 595.0 $ 500.4 $ 446.2 Operating income: Color, Additives and Inks $ 88.8 $ 40.5 $ 180.8 $ 147.4 $ 158.5 Specialty Engineered Materials 34.2 22.3 94.4 83.7 72.3 Distribution 24.0 19.4 69.5 75.4 71.5 Corporate and eliminations (26.6) (29.4) (155.4) (149.7) (123.7) Operating income $ 120.4 $ 52.8 $ 189.3 $ 156.8 $ 178.6 Earnings before interest, taxes, depreciation and amortization (EBITDA): Color, Additives and Inks $ 116.2 $ 51.4 $ 255.9 $ 190.1 $ 202.8 Specialty Engineered Materials 42.0 29.8 124.4 113.2 95.5 Distribution 24.2 19.5 70.2 75.9 72.2 Corporate and eliminations (24.9) (28.0) (146.2) (144.3) (119.3) Other income, net 1.5 1.6 24.3 12.1 (12.9) EBITDA $ 159.0 $ 74.3 $ 328.6 $ 247.0 $ 238.3 EBITDA as a % of Sales: Color, Additives and Inks 19.1 % 20.0 % 17.0 % 18.9 % 19.4 % Specialty Engineered Materials 19.4 % 16.1 % 17.6 % 15.2 % 14.8 % Distribution 6.7 % 6.7 % 6.3 % 6.4 % 5.7 % 2 Reconciliation of Pro Forma EBITDA - Color, Additives and Inks Three Months Ended March 31, Year Ended December 31, 2021 2020 2020 2019 2018 Sales: Color, Additives and Inks $ 609.3 $ 256.5 $ 1,502.9 $ 1,003.8 $ 1,046.5 Clariant MB pro forma adjustments(1) — 279.4 540.4 1,118.6 1,209.8 Pro forma sales $ 609.3 $ 535.9 $ 2,043.3 $ 2,122.4 $ 2,256.3 Operating income: Color, Additives and Inks $ 88.8 $ 40.5 $ 180.8 $ 147.4 $ 158.5 Clariant MB pro forma adjustments(1) — 23.0 45.0 72.9 80.3 Pro forma operating income $ 88.8 $ 63.5 $ 225.8 $ 220.3 $ 238.8 Depreciation & amortization: Color, Additives and Inks $ 27.4 $ 10.9 $ 75.1 $ 42.7 $ 44.3 Clariant MB pro forma adjustments(1) — 15.1 30.1 60.3 61.2 Pro forma depreciation & amortization $ 27.4 $ 26.0 $ 105.2 $ 103.0 $ 105.5 Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA): Color, Additives and Inks $ 116.2 $ 51.4 $ 255.9 $ 190.1 $ 202.8 Clariant MB pro forma adjustments(1) — 38.1 75.1 133.2 141.5 Pro forma EBITDA $ 116.2 $ 89.5 $ 331.0 $ 323.3 $ 344.3 Pro forma EBITDA as a % of Sales 19.1 % 16.7 % 16.2 % 15.2 % 15.3 % Three Months Ended March 31, 2020 Reconciliation of Pro Forma Adjusted Earnings per Share Avient Special Items Adjusted Avient Clariant MB Pro Forma Adjustments(1) Pro Forma Adjusted Avient Sales $ 711.5 $ — $ 711.5 $ 279.4 $ 990.9 Operating income 52.8 9.7 62.5 23.0 85.5 Interest expense, net (9.4) — (9.4) (12.8) (22.2) Other income, net 1.6 (0.1) 1.5 — 1.5 Income taxes (11.9) (1.0) (12.9) (2.4) (15.3) Net income from continuing operations attributable to Avient shareholders $ 33.1 $ 8.6 $ 41.7 $ 7.8 $ 49.5 Weighted average diluted shares 86.7 Impact to diluted shares from January 2020 equity offering 6.1 Weighted average diluted shares 92.8 EPS $ 0.53 (1) - Pro forma adjustments for the periods prior to the acquisition date (July 1, 2020) and to give effects of the financing for the acquisition 3 Three Months Ended June 30, 2020 Reconciliation of Pro Forma Adjusted Earnings per Share Avient Special Items Adjusted Avient Clariant MB Pro Forma Adjustments(2) Pro Forma Adjusted Avient Sales $ 609.1 $ — $ 609.1 $ 261.1 $ 870.2 Operating income $ 38.0 $ 9.0 $ 47.0 $ 22.0 $ 69.0 Interest expense, net (16.2) — (16.2) (5.3) (21.5) Other income, net 9.5 (0.3) 9.2 — 9.2 Income taxes (7.9) 0.7 (7.2) (3.8) (11.0) Net income attributable to non controlling interests (0.4) — (0.4) — (0.4) Net income from continuing operations attributable to Avient shareholders $ 23.0 $ 9.4 $ 32.4 $ 12.9 $ 45.3 Weighted average diluted shares 91.8 Impact to diluted shares from January 2020 equity offering 15.3 Pro forma weighted average diluted shares 107.1 Pro forma adjusted EPS $ 0.42 (2) - Pro forma adjustments for the periods prior to the acquisition date (July 1, 2020) and to give effects of the financing for the acquisition Year Ended December 31, Reconciliation to Adjusted EBITDA 2020 2019 2018 Net income from continuing operations – GAAP $ 133.8 $ 75.7 $ 87.4 Income tax expense 5.2 33.7 14.4 Interest expense 74.6 59.5 62.8 Debt extinguishment cost — — 1.1 Depreciation and amortization from continuing operations 115.0 78.1 72.6 EBITDA $ 328.6 $ 247.0 $ 238.3 Special items, before tax 66.2 61.7 59.5 Interest expense included in special items (10.1) — — Accelerated depreciation included in special items (3.2) — (3.0) Adjusted EBITDA $ 381.6 $ 308.7 $ 294.8 4 Year Ended December 31, 2020 Reconciliation of Pro Forma Adjusted Earnings per Share Avient Special Items Adjusted Avient Clariant MB Pro Forma Adjustments(3) Pro Forma Adjusted Avient Sales $ 3,242.1 $ — $ 3,242.1 $ 540.4 $ 3,782.5 Operating income $ 189.3 $ 73.7 $ 263.0 $ 45.0 $ 308.0 Interest expense, net (74.6) 10.1 (64.5) (18.1) (82.6) Other income, net 24.3 (17.6) 6.7 — 6.7 Income taxes (5.2) (41.4) (46.6) (6.2) (52.8) Net income attributable to noncontrolling interests (1.8) — (1.8) — (1.8) Net income from continuing operations attributable to Avient shareholders $ 132.0 $ 24.8 $ 156.8 $ 20.7 $ 177.5 Weighted average diluted shares 90.6 Impact to diluted shares from January 2020 equity offering 1.5 Pro forma weighted average diluted shares 92.1 Pro forma adjusted EPS $ 1.93 Reconciliation of Pro Forma Adjusted EBITDA from continuing operations Operating income and other income, net $ 213.6 $ — $ 56.1 $ 269.7 $ 45.0 $ — $ 314.7 Depreciation and amortization 115.0 (3.2) 111.8 30.1 141.9 EBITDA from continuing operations $ 328.6 $ 52.9 $ 381.5 $ 75.1 $ 456.6 Year Ended December 31, 2019 Reconciliation of Pro Forma Adjusted Earnings per Share Avient Special Items Adjusted Avient Clariant MB Pro Forma Adjustments(1) Pro Forma Adjusted Avient Sales $ 2,862.7 $ — $ 2,862.7 $ 1,118.6 $ 3,981.3 Operating income $ 156.8 $ 71.7 $ 228.5 $ 72.9 $ 301.4 Interest expense, net (59.5) — (59.5) (33.4) (92.9) Other income, net 12.1 (10.0) 2.1 — 2.1 Income taxes (33.7) (5.9) (39.6) (9.1) (48.7) Net income attributable to noncontrolling interests (0.2) — (0.2) — (0.2) Net income from continuing operations attributable to Avient shareholders $ 75.5 $ 55.8 $ 131.3 $ 30.4 $ 161.7 Weighted average diluted shares 77.7 Impact to diluted shares from January 2020 equity offering 15.3 Pro forma weighted average diluted shares 93.0 Pro forma adjusted EPS $ 1.74 Reconciliation of Pro Forma Adjusted EBITDA from continuing operations Operating income and other income, net $ 168.9 $ — $ 61.7 $ 230.6 $ 72.9 $ — $ 303.5 Depreciation and amortization 78.1 — 78.1 60.3 138.4 EBITDA from continuing operations $ 247.0 $ 61.7 $ 308.7 $ 133.2 $ 441.9 (3) - Pro forma adjustments for the periods prior to the acquisition date (July 1, 2020) and to give effects of the financing for the acquisition 5 AVNT First Quarter 2021 Earnings Presentation no recs.pdf AVNT First Quarter 2021 Earnings Presentation.pdf AVNT First Quarter 2021 Earnings Presentation.pdf AVNT First Quarter 2021 Earnings Presentation.pdf 4.29 127pm Q1 21 IR Deck Version non-GAAP Recs (002).pdf
https://www.avient.com/sites/default/files/2023-06/AVNT June IR Conferences w_Non GAAP Recs.pdf
They are based on management’s expectations that involve a number of business risks and uncertainties, any of which could cause actual results to differ materially from those expressed in or implied by the forward-looking statements.
National Defense budget of $842 billion submitted to Congress in Q1 2023 • European NATO members annual defense spend expected to increase by up to 20% Where Avient Wins: Dyneema® is the world’s strongest fiber™ One of the highest strength to weight ratios of any material on Earth Direct relationships with industry leading armor manufacturers Resistant to most chemicals, UV, and moisture to handle any environment Avient Confidential 18 DEFENSE Source: US Department of Defense, defense.gov, NATO18 Source: TRANSPORTATION • Increased EPA regulations requiring improved fuel efficiency, enabled in part by lower-weight vehicles • Automakers preparing for 2/3 of U.S. vehicles to be 100% electric by 2032 Where Avient Wins: Lightweight panels that establish both strength and stiffness resulting in decreased energy usage, lower emissions Long-lasting Color applications to resist UV exposure, temperature fluctuations and exceed the stylistic requirements of global automakers 19 $130 $530 Q2 FY $0.60 $2.40 Q2 FY 2023 GUIDANCE 20 Sales Adjusted EBITDA $845 $3,400 Q2 FY Adjusted EPS (in millions) (in millions) CASH FLOW / LEVERAGE 21 • Maintaining free cash flow and leverage guidance from February earnings call • IT investment to further integrate acquired businesses and capture operational efficiencies • Restructuring actions to streamline operations and improve profitability, primarily in Europe ($ millions) 2023E Cash Flow from Operating Activities 350$ Less: Run-Rate CapEx (110) CapEx for IT System Upgrade (25) CapEx for Restructuring (15) Total CapEx (150) Free Cash Flow 200$ Adjusted EBITDA 530$ Net Debt / Adjusted EBITDA 2.9x LONG-TERM REVENUE GROWTH DRIVERS Growth Drivers Long-Term Growth Rate Sustainable Solutions 8–12% Healthcare 8–10% Composites 10% Asia / LATAM 5% Other (GDP growth) 2–3% Avient 6.5% 22 Sustainable Solutions 32% Asia / LATAM 15% Composites 8% Healthcare 6% Other (GDP Growth) 39% • Virtual presentation to be held September 20, 2023 • The company will be conducting an investor-focused presentation around our sustainability solutions portfolio Avient Confidential 23 SUSTAINABILITY INVESTOR DAY 23 $340M $405M $455M $550M $790M $915M 2016 2017 2018 2019 2020PF** 2021 2022PF*** SUSTAINABILITY FOR A BETTER TOMORROW Revenue From Sustainable Solutions* 2016-2022 ($ in millions) Organic Future Growth Revenue Assumptions From Sustainable Solutions: 8 - 12% 24 *Avient Sustainable Solutions definitions aligned with FTC 2012 Guide for the Use of Environmental Marketing Claims (“Green Guides”) **2020 is Pro Forma to include full year of the Clariant Color business ***2022 is Pro Forma for the acquisition of Avient Protective Materials and the divestiture of Distribution $1,175M Lightweighting Eco-Conscious Recycle Solutions VOC Reduction Sustainable Infrastructure Human Health & Safety Reduced Energy Use Bio-polymers SUSTAINABILITY NEEDS BY MARKET B&C • Eco-Conscious • Carbon footprint • Resource conservation Healthcare • Carbon footprint • Bio based content • Eco-Conscious Automotive • Light weighting • Recycled Content • VOC reduction Consumer • Recycle Solutions • Light weighting • Carbon Footprint Packaging • Recycle Solutions • Light weighting • Food waste reduction Common Theme: CO2 Emission Goals Increasing Single-Use Plastic Regulation 25 INVESTING IN INNOVATION S U S T A I N A B I L I T Y P O R T F O L I O 26 AP P EN D IX 29 RAW MATERIAL 2022 ANNUAL PURCHASES Performance Additives 16% Pigments 12% TiO2 10% Dyestuffs 2% Polyethylene 11% Nylon 6% Polypropylene 5% Styrenic Block Copolymer 5% Other Raw Materials 33% ~40% hydrocarbon based (Grey shaded materials are hydrocarbon based, includes portion of “Other Raw Materials”) Non-hydrocarbon based materials • Cost inflation decelerating, particularly for hydrocarbon-based raw materials 2022 pro forma results for the acquisition of Avient Protective Materials SEGMENT DATA U.S. & Canada 40% EMEA 37% Asia 18% Latin America 5% 2022 PRO FORMA SEGMENT, END MARKET AND GEOGRAPHY GEOGRAPHY REVENUESEGMENT FINANCIALS Consumer 20% Packaging 24% Industrial 15% Building and Construction 10% Telecommunications 4% Energy 4% Defense 6% END MARKET REVENUE $2,355M $402M $1,300M $272M Sales EBITDA Specialty Engineered Materials Color Additives and Inks $592M$3,653M (1) Transportation 9% Healthcare 8% 31 (1) Total company sales and adjusted EBITDA of $3,653M and $592M, respectively, include intercompany sales eliminations and corporate costs C O L O R , A D D I T I V E S & I N K S 2022 REVENUE | $2 .4 B ILL ION US & Canada 34% EMEA 38% Asia 20% Latin America 8% END MARKET REGION 32 Packaging 34% Consumer 21% Healthcare 8% Industrial 15% Transportation 8% Building & Construction 11% Telecommunications 1% Energy 2% S P E C I A LT Y E N G I N E E R E D M AT E R I A L S 2022 PRO FORMA REVENUE | $1 .3 B ILL ION END MARKET US & Canada 52% EMEA 35% Asia 13% REGION 33 Packaging 5% Consumer 19% Healthcare 8%Industrial 16% Transportation 10% Telecommunications 10% Energy 9% Defense 15% Building & Construction 8% Packaging 32% Consumer 27% Healthcare 8% Industrial 14% Building & Construction 5% Telecommunications 3% Energy 1% Defense 1% Asia (18% of sales) Transportation 9% 2022 PROFORMA AVIENT REGIONAL SALES BY END MARKET Packaging 27% Consumer 14% Healthcare 5% Industrial 17% Building & Construction 10% Energy 5% Defense 8% EMEA (37% of sales)Transportation 11% Packaging 13% Consumer 24% Healthcare 12% Industrial 15% Building & Construction 13% Energy 5% Defense 5% US & Canada (40% of sales) Transportation 7% Packaging 56% Consumer 23% Healthcare 4% Industrial 7% Building & Construction 4% Telecommunications 1% LATAM (5% of sales) Transportation 5% Telecommunications 3% Telecommunications 6% 34 PEER COMPARISONS AVIENT IS ASSET LIGHT Capex / Revenue 2023E (%) Avient Specialty Formulators Other Specialty / Chemical Companies Source: Peer data per Bloomberg as of May 31, 2023 Note: Avient reflects 2023 estimated revenue of $3,400 and estimated run-rate CAPEX of $110M. 36 3 2 3 3 4 4 3 3 4 5 5 6 8 9 A vi en t K W R P P G F U L A V Y R P M F M C H U N C E H X L E C L A S H E M N S C L FREE CASH FLOW CONVERSION Source: Peer data per Bloomberg as of May 31, 2023 Note: Free cash flow conversion calculated as (Adjusted EBITDA – Capex) / Adjusted EBITDA.
Senior management believes the measures described above are useful to investors because they allow for comparison to Avient's performance in prior periods without the effect of items that, by their nature, tend to obscure Avient's operating results due to the potential variability across periods based on timing, frequency and magnitude.
https://www.avient.com/sites/default/files/2024-08/AVNT Second Quarter Earnings Press Release.pdf
Building on the positive start to the year, we delivered a strong second quarter, highlighted by broad-based growth across all regions and most end markets,” said Dr.
They are based on management's expectations that involve a number of business risks and uncertainties, any of which could cause actual results to differ materially from those expressed in or implied by the forward-looking statements.
Senior management believes these measures are useful to investors because they allow for comparison to Avient's performance in prior periods without the effect of items that, by their nature, tend to obscure Avient's operating results due to the potential variability across periods based on timing, frequency and magnitude.