https://www.avient.com/sites/default/files/2025-03/Q4 2024 Avient Webcast Slides w Non-GAAP.pdf
All Rights Reserved 2025 10 Color, Additives & Inks - Q4 2024 performance Sales 459 468 Q4 2023 Q4 2024 EXCL.
All Rights Reserved 2025 13 Color, Additives & Inks – full year 2024 performance Sales 2,007 2,047 FY 2023 FY 2024 EXCL.
All Rights Reserved 2025 Color, Additives & Inks END MARKETS REGIONS 34% 21% 15% 11% 9% 8% Packaging Telecom 1%Energy 1% Transportation Industrial Consumer 34% 37% 20% 9% US & Canada Latin America Asia Europe, Middle East and Africa Healthcare Building & Construction 21Copyright © .
https://www.avient.com/sites/default/files/2022-04/Avient Q1 2022 Earnings Release.pdf
Three Months Ended March 31, 2022 2021 Sales: Color, Additives and Inks $ 649.5 $ 609.3 Specialty Engineered Materials 244.7 216.5 Distribution 432.9 362.7 Corporate and eliminations (33.3) (26.2) Sales $ 1,293.8 $ 1,162.3 Gross margin: Color, Additives and Inks $ 192.1 $ 197.5 Specialty Engineered Materials 69.8 64.7 Distribution 39.3 39.3 Corporate and eliminations (7.5) 0.9 Gross margin $ 293.7 $ 302.4 Selling and administrative expense: Color, Additives and Inks $ 97.6 $ 108.7 Specialty Engineered Materials 30.1 30.5 Distribution 15.1 15.3 Corporate and eliminations 22.3 27.5 Selling and administrative expense $ 165.1 $ 182.0 Operating income: Color, Additives and Inks $ 94.5 $ 88.8 Specialty Engineered Materials 39.7 34.2 Distribution 24.2 24.0 Corporate and eliminations (29.8) (26.6) Operating income $ 128.6 $ 120.4 Earnings before interest, taxes, depreciation and amortization (EBITDA): Color, Additives and Inks $ 120.5 $ 116.2 Specialty Engineered Materials 47.5 42.0 Distribution 24.4 24.2 Corporate and eliminations (26.0) (24.9) Other income, net (0.6) 1.5 EBITDA $ 165.8 $ 159.0 11 Attachment 7 Avient Corporation Reconciliation of Non-GAAP Financial Measures (Unaudited) (In millions, except per share data) Senior management uses gross margin before special items and operating income before special items to assess performance and allocate resources because senior management believes that these measures are useful in understanding current profitability levels and how it may serve as a basis for future performance.
Three Months Ended March 31, 2022 2021 GAAP Results Special Items Adjusted Results GAAP Results Special Items Adjusted Results $111.1 $ 7.7 $ 118.8 $102.6 $ 2.4 $ 105.0 Income tax expense - GAAP (26.6) — (26.6) (22.9) — (22.9) Income tax impact of special items (Attachment 3) — (2.0) (2.0) — (0.9) (0.9) Tax adjustments (Attachment 3) — 1.5 1.5 — 1.1 1.1 Income tax (expense) benefit $ (26.6) $ (0.5) $ (27.1) $ (22.9) $ 0.2 $ (22.7) Effective Tax Rate(1) 23.9 % 22.8 % 22.3 % 21.6 % (1) Rates may not recalculate from figures presented herein due to rounding 12 Reconciliation of EBITDA by Segment Three Months Ended March 31, 2022 2021 Operating income: Color, Additives and Inks $ 94.5 $ 88.8 Specialty Engineered Materials 39.7 34.2 Distribution 24.2 24.0 Corporate and eliminations (29.8) (26.6) Operating income $ 128.6 $ 120.4 Items below OI in Corporate: Other income, net $ (0.6) $ 1.5 Depreciation & amortization: Color, Additives and Inks $ 26.0 $ 27.4 Specialty Engineered Materials 7.8 7.8 Distribution 0.2 0.2 Corporate and eliminations 3.8 1.7 Depreciation & Amortization $ 37.8 $ 37.1 EBITDA: Color, Additives and Inks $ 120.5 $ 116.2 Specialty Engineered Materials 47.5 42.0 Distribution 24.4 24.2 Corporate and eliminations (26.0) (24.9) Other income, net (0.6) 1.5 EBITDA $ 165.8 $ 159.0 EBITDA as a % of Sales: Color, Additives and Inks 18.6 % 19.1 % Specialty Engineered Materials 19.4 % 19.4 % Distribution 5.6 % 6.7 % Three Months Ended March 31, Reconciliation to EBITDA and Adjusted EBITDA: 2022 2021 Net income from continuing operations – GAAP $ 84.5 $ 79.7 Income tax expense 26.6 22.9 Interest expense 16.9 19.3 Depreciation and amortization 37.8 37.1 EBITDA $ 165.8 $ 159.0 Special items, before tax 7.7 2.4 Depreciation and amortization included in special items (2.1) (0.5) Adjusted EBITDA $ 171.4 $ 160.9 NEWS RELEASE Attachment 1
https://www.avient.com/sites/default/files/2025-05/AVNT Q1 2025 Webcast Slides_w_non-GAAP.pdf
All Rights Reserved 2025 7 Color, Additives & Inks – Q1 2025 performance Sales 515 520 Q1 2024 Q1 2025 EXCL.
All Rights Reserved 2025 Color, Additives & Inks END MARKETS REGIONS 34% 21% 15% 11% 9% 8% Packaging Telecom 1%Energy 1% Transportation Industrial Consumer 34% 37% 20% 9% US & Canada Latin America Asia Europe, Middle East and Africa Healthcare Building & Construction 15Copyright © .
Slide 12 Slide 13: Avient 2024 sales Slide 14: Color, Additives & Inks Slide 15: Specialty Engineered Materials Slide 16: Avient 2024 regional sales, by end market Slide 17: Raw material basket IR Deck - AVNT-2025.03.31 Non-Gaap Recs.pdf Attachment
https://www.avient.com/sites/default/files/2025-05/AVNT Q1 2025 webcast slides_v17.pdf
All Rights Reserved 2025 7 Color, Additives & Inks – Q1 2025 performance Sales 515 520 Q1 2024 Q1 2025 EXCL.
All Rights Reserved 2025 Color, Additives & Inks END MARKETS REGIONS 34% 21% 15% 11% 9% 8% Packaging Telecom 1%Energy 1% Transportation Industrial Consumer 34% 37% 20% 9% US & Canada Latin America Asia Europe, Middle East and Africa Healthcare Building & Construction 15Copyright © .
All Rights Reserved 2025 19 Reconciliation of Non-GAAP financial measures Reconciliation to EBITDA and Adjusted EBITDA Three months ended March 31, 2025 2024 $ Millions $ Millions Sales Color, Additives and Inks 519.7 515.3 Specialty Engineered Materials 308.4 314.4 Corporate (1.5) (0.7) Sales 826.6 829.0 Operating income Color, Additives and Inks 78.6 74.8 Specialty Engineered Materials 47.1 53.4 Corporate (125.0) (34.2) Operating income 0.7 94.0 Depreciation and amortization Color, Additives and Inks 21.7 21.9 Specialty Engineered Materials 21.5 19.6 Corporate 2.1 2.8 Depreciation and amortization 45.3 44.3 EBITDA Earnings before interest, taxes, depreciation and amortization Color, Additives and Inks 100.3 96.7 Specialty Engineered Materials 68.6 73.0 Corporate (122.9) (31.4) Other expense, net (0.4) (0.9) EBITDA 45.6 137.4 Special items, before tax 101.2 6.2 Interest expense included in special items (1.7) - Depreciation and amortization included in special items (0.4) (0.5) Adjusted EBITDA 144.7 143.1 Adjusted EBITDA as a percent of sales Color, Additives and Inks 19.3% 18.8% Specialty Engineered Materials 22.2% 23.2% PAGE 2 OF 3 Copyright © .
https://www.avient.com/sites/default/files/2025-08/AVNT Q2 2025 webcast slides_w_non_GAAP.pdf
All Rights Reserved 2025 7 Color, Additives & Inks – Q2 2025 performance Sales 542 539 Q2 2024 Q2 2025 Adj.
All Rights Reserved 2025 Color, Additives & Inks END MARKETS REGIONS 34% 21% 15% 11% 9% 8% Packaging Telecom 1%Energy 1% Transportation Industrial Consumer 34% 37% 20% 9% US & Canada Latin America Asia Europe, Middle East and Africa Healthcare Building & Construction 15Copyright © .
All Rights Reserved 2025 19 Reconciliation of Non-GAAP financial measures Reconciliation to EBITDA and Adjusted EBITDA Three months ended June 30, 2025 2024 $ Millions $ Millions Sales Color, Additives and Inks 538.6 542.0 Specialty Engineered Materials 329.7 308.1 Corporate (1.8) (0.4) Sales 866.5 849.7 Operating income Color, Additives and Inks 90.3 86.1 Specialty Engineered Materials 40.2 42.8 Corporate (34.4) (56.4) Operating income 96.1 72.5 Depreciation and amortization Color, Additives and Inks 22.4 21.8 Specialty Engineered Materials 22.4 20.8 Corporate 1.8 2.3 Depreciation and amortization 46.6 44.9 EBITDA Earnings before interest, taxes, depreciation and amortization Color, Additives and Inks 112.7 107.9 Specialty Engineered Materials 62.6 63.6 Corporate (32.6) (54.1) Other expense, net (0.5) (0.9) EBITDA 142.2 116.5 Special items, before tax 7.3 28.1 Interest expense included in special items (0.3) (1.0) Depreciation and amortization included in special items (0.3) (0.3) Adjusted EBITDA 148.9 143.3 Adjusted EBITDA as a percent of sales Color, Additives and Inks 20.9% 19.9% Specialty Engineered Materials 19.0% 20.6% PAGE 2 OF 4 Copyright © .
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V I S I O N PolyOne Corporation 4 To be the world’s premier provider of specialized polymer materials, services and solutions C O R E V A L U E S P E R S O N A L V A L U E S Honesty IntegrityRespect Specialization Commercial Excellence Operational Excellence Globalization Collaboration ExcellenceInnovation To be the world’s premier provider of specialized polymer materials, services and solutions PolyOne Corporation 5 P O L Y O N E 2 0 1 7 R E V E N U E | $ 3 . 2 B I L L I O N Transportation 18% Industrial 16% Consumer 12% Packaging 11% Healthcare 11% Wire & Cable 9% Appliance 5% United States 59% Europe 14% Asia 10% Latin America 9% Canada 8% PolyOne Distribution 34% Performance Products & Solutions 21% Specialty Engineered Materials 19% Color Additives & Inks 26% Segment End Market Geography Building & Construction 12% Electrical & Electronics 6% 2009 2010 2011 2012 2013 2014 2015 2016* 2017* A D J U S T E D E P S E X P A N S I O N C O N S E C U T I V E Y E A R S PolyOne Corporation 6 8 $0.13 $0.68 $0.82 $1.00 $1.31 $1.80 $1.96 $2.06 $2.21 *Pro Forma for sale of DSS E A R L Y Y E A R S D E F I N E D B Y S P E C I A L T Y M I X I M P R O V E M E N T PolyOne Corporation 7 2% 76% 2005 2017 $5M $280M + 25% + 33% Specialty OI % of Operating Income Consistently Deliver Double Digit Annual EPS Growth *ROIC is defined as TTM adjusted OI after tax divided by the sum of average debt and equity less cash over a 5 quarter period PolyOne Corporation 8 2006 2017 2020 “Where we were” “Where we are” Platinum Vision ROIC* 5.0% 14.0% 15.0% Operating Income % of Sales Color, Additives & Inks 1.7% 15.5% 20%+ Specialty Engineered Materials 1.1% 12.5% 20%+ Performance Products & Solutions 5.5% 10.7% 12-14% Distribution 2.6% 6.3% 6.5-7.5% P R O O F O F P E R F O R M A N C E & P L A T I N U M V I S I O N 531 660130 149 504 607 2014 2017 R&D / Technical Marketing Sales I N V E S T M E N T I N COMMERCIAL RESOURCES D R I V I N G G R O W T H PolyOne Corporation 9 Increased commercial headcount Largest organic revenue growth since recession $2.9 $2.9 $3.2 2015 2016 2017 Revenue in billions of $ + 24% + 15% + 20% Total + 10% Organic + 7% Free Cash Flow (In millions) ROIC* PolyOne Corporation 10 $50 $116 $143 $0 $40 $80 $120 $160 $200 2012 2014 2016 2018 10.8% 11.3% 12.9% 14.0% 10.0% 11.0% 12.0% 13.0% 14.0% 15.0% 2012 2014 2016 2017 2020 Platinum Vision $200 - $220 F R E E C A S H F L O W A N D I M P R O V I N G R E T U R N S *ROIC is defined as TTM adjusted OI after tax divided by the sum of average debt and equity less cash over a 5 quarter period 15.0% $767M R E T U R N I N G C A S H T O S H A R E H O L D E R S O V E R $ 9 5 0 M I L L I O N S I N C E 2 0 1 1 PolyOne Corporation 11 $0 $150 $300 $450 $600 $750 2011 2012 2013 2014 2015 2016 2017 $0.16 $0.20 $0.24 $0.32 $0.40 $0.48 $0.58 $0.70 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 3-Year Dividend Plan Cumulative Share Repurchases (In millions) Increasing Annual Dividend Transformational Opportunity for Growth Through M&A Adjacent Opportunity for Growth Through New Product Pipeline Core Customization 3 H O R I Z O N S O F D E V E L O P M E N T PolyOne Corporation 12 Incremental development from existing base of technology New development adjacent to current technology New technology development outside of and with our current base Service adjacent markets and customers Create new markets, target new customer needs Service existing markets and customers Market Technical I N N O V A T I O N Non-Halogen Flame Retardants Barrier Technologies Fiber Colorants Advanced Composites Thermoplastic Elastomers Gordon Composites/ Polystrand – Composites GLS – Thermoplastic Elastomers ColorMatrix – Liquid Color & Additives I N N O V A T I O N P I P E L I N E PolyOne Corporation 13 PrototypeFrame Opportunity Scale-up & Test Market Build Business Case Commercial Launch (since 2015) Phase 1 Phase 2 Phase 3 Phase 4 Phase 5 8 6 8 2 2 36 5 10 13 10 4 6 7 Breakthrough Platform Derivative Number of Projects 33 17 20 15 5 90 Total Addressable Market ($ millions) - - $800 $1,400 $600 $2,800 F L A M E R E T A R D A N T P O L Y M E R S A D V A N C E D C O M P O S I T E S B A R R I E R M A T E R I A L S C O L O R A N T T E C H N O L O G I E S T H E R M O P L A S T I C E L A S T O M E R S A U N I Q U E C U S T O M E R E X P E R I E N C E Industrial Design IQ DESIGN LABS PolyOne Corporation 14 Launched in 2014, IQ Design Labs is our in-house industrial design team that focuses on material selection and processing expertise to help with problem solving, enabling our clients to develop higher performance products.
Adjusted EPS attributable to PolyOne common shareholders is calculated as follows: 2009* 2010* 2011* 2012* 2013* 2014* 2015* 2016 2017 Net income from continuing operations attributable to PolyOne common shareholders $ 106.7 $ 152.5 $ 153.4 $ 53.3 $ 94.0 $ 78.0 $ 144.6 $ 166.4 $ 173.5 Joint venture equity earnings, after tax (19.0) (14.7) (3.7) — — — — — — Special items, before tax(1) (48.7) 24.2 (48.1) 55.1 46.3 164.2 87.6 23.8 32.9 Special items, tax adjustments(1) (27.2) (96.7) (24.7) (18.9) (13.7) (73.7) (58.7) (15.9) (24.8) Adjusted net income from continuing operations attributable to PolyOne common shareholders $ 11.8 $ 65.3 $ 76.9 $ 89.5 $ 126.6 $ 168.5 $ 173.5 $ 174.3 $ 181.6 Diluted shares 93.4 96.0 94.3 89.8 96.5 93.5 88.7 84.6 82.1 Adjusted EPS attributable to PolyOne common shareholders $ 0.13 $ 0.68 $ 0.82 $ 1.00 $ 1.31 $ 1.80 $ 1.96 $ 2.06 $ 2.21 * Historical results are shown as presented in prior filings and have not been updated to reflect subsequent changes in accounting principle, discontinued operations or the related resegmentation. (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; 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; the effect of changes in accounting principles or other such laws or provisions affecting reported results and tax adjustments.
Segment highlights COLOR, ADDITIVES & INKS Color, Additives & Inks Specialty Engineered Materials Specialty Engineered Materials Performance Products & Solutions Performance Products & Solutions DISTRIBUTION Target end markets & �application examples Slide Number 26 Slide Number 27 Slide Number 28 Slide Number 29 Slide Number 30 Slide Number 31 Slide Number 32 Slide Number 33 Slide Number 34 Slide Number 35 Slide Number 36 Slide Number 37 Investor Presentation - March 2018 r4.pdf Investor Presentation - March 2018
https://www.avient.com/sites/default/files/resources/POL%2520IR%2520Presentation%2520-%2520Credit%2520Suisse%2520-%2520June%25202015.pdf
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?
Platform operating income mix percentage 2005* 2006* 2007* 2008* 2009* 2010* 2011 2012 2013 2014 2015 Q1 Global Color, Additives and Inks $ 4.3 $ 8.9 $ 25.7 $ 28.1 $ 25.2 $ 37.7 $ 50.2 $ 75.3 $ 104.0 $ 124.9 $ 33.8 Global Specialty Engineered Materials 0.4 3.9 4.9 17.6 20.6 49.7 45.9 47.0 57.2 72.4 23.1 Designed Structures and Solutions - - - - - - - - 33.4 45.1 3.2 Specialty Platform $ 4.7 $ 12.8 $ 30.6 $ 45.7 $ 45.8 $ 87.4 $ 96.1 $ 122.3 $ 194.6 $ 242.4 $ 60.1 Performance Products and Solutions 75.7 64.2 65.8 31.3 33.1 54.0 27.7 38.8 56.0 63.1 11.5 Distribution 19.5 19.2 22.1 28.1 24.8 42.0 56.0 66.0 63.3 68.2 15.7 Joint ventures 91.9 102.9 34.8 28.6 25.5 18.9 5.0 - - - - Corporate and eliminations (51.5) 34.5 (73.3) (425.1) 7.9 (27.7) 18.2 (89.6) (82.4) (218.6) (17.2) Operating income (loss) GAAP $ 140.3 $ 233.6 $ 80.0 $ (291.4) $ 137.1 $ 174.6 $ 203.0 $ 137.5 $ 231.5 $ 155.1 $ 70.1 Less: Corporate operating expense 51.5 (34.5) 73.3 425.1 (7.9) 27.7 (18.2) 89.6 82.4 218.6 17.2 Operating income excluding Corporate $ 191.8 $ 199.1 $ 153.3 $ 133.7 $ 129.2 $ 202.3 $ 184.8 $ 227.1 $ 313.9 $ 373.7 $ 87.3 Specialty platform operating mix percentage 2% 6% 20% 34% 35% 43% 52% 54% 62% 65% 69% * Historical results have not been restated for the Resin business divestiture or the related resegmentation. 2 Adjusted EPS 2006Y* 2007Y* 2008Y* 2009Y* 2010Y 2011Y 2012Y 2013Y 2014Y Net income attributable to PolyOne common shareholders $ 130.9 $ 40.9 $ (417.0) $ 106.7 $ 152.5 $ 153.4 $ 53.3 $ 94.0 $ 78.0 Joint venture equity earnings, after tax (68.5) (26.1) (20.8) (19.0) (14.7) (3.7) - - - Special items, after tax(1) (21.2) 41.4 310.0 (31.0) 15.8 (30.5) 35.7 30.4 101.0 Tax adjustments(2) (30.0) (30.7) 147.2 (44.9) (88.3) (42.3) 0.5 2.2 (10.5) Adjusted net income $ 11.2 $ 25.5 $ 19.4 $ 11.8 $ 65.3 $ 76.9 $ 89.5 $ 126.6 $ 168.5 Diluted shares 92.8 93.1 92.7 93.4 96.0 94.3 89.8 96.5 93.5 Adjusted EPS $ 0.12 $ 0.27 $ 0.21 $ 0.13 $ 0.68 $ 0.82 $ 1.00 $ 1.31 $ 1.80 Adjusted EPS 2010 Q1 2011 Q1 2012 Q1 2013 Q1 2014 Q1 2015 Q1 Net income attributable to PolyOne common shareholders $ 20.1 $ 106.0 $ 15.3 $ 11.2 $ 29.4 $ 30.2 Joint venture equity earnings, after tax (0.5) (3.7) - - - - Special items, after tax(1) (0.3) (79.8) 6.1 17.2 14.1 5.5 Tax adjustments(2) (3.5) (1.5) 0.1 0.5 (1.6) 5.9 Adjusted net income $ 15.8 $ 21.0 $ 21.5 $ 28.9 $ 41.9 $ 41.6 Diluted shares 95.3 96.4 90.7 92.8 95.7 90.1 Adjusted EPS $ 0.17 $ 0.22 $ 0.24 $ 0.31 $ 0.44 $ 0.46 * Historical results are shown as presented in prior filings and have not been updated to reflect subsequent changes in accounting principal or discontinued operations. (1) Special items are a non-GAAP financial measure.
Appendix Q1 2015 Financial Highlights At a Glance�Global Color, Additives and Inks At a Glance�Global Specialty Engineered Materials At a Glance�Designed Structures and Solutions At a Glance�Performance Products and Solutions At a Glance�Distribution Plastics: Key to Future Sustainable Development Commitment to Operational Excellence Application Examples Slide Number 28 Authentication Technology 2015 Range Rover Evoque Interior Slide Number 31 Metal Replacement Solutions Next Generation Solar Charger High-Barrier Packaging Containers Aerospace Applications Credit Suisse - June 25 2015 r2 Credit Suisse - June 25 2015
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Addressable market exceeds $40 billion 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 PolyOne Corporation Page 17 Appendix PolyOne Corporation Page 18 $0.20 $0.28 $0.36 $0.49 $0.54 $0.00 $0.15 $0.30 $0.45 $0.60 Q3'11 Q3'12 Q3'13 Q3'14 Q3'15 Adjusted EPS Q3 2015 Financial Highlights Color Additives & Inks operating margin reaches record third quarter level of 17.3% Specialty Engineered Materials operating margin grew 210 basis points year-over-year to 14.7% Third quarter adjusted EPS has grown on average 28% per year since 2011 $13 $19 $29 $30 $35 $0 $10 $20 $30 $40 Q3'11 Q3'12 Q3'13 Q3'14 Q3'15 GCAI Operating Profit $11 $13 $15 $18 $20 $10 $14 $18 $22 Q3'11 Q3'12 Q3'13 Q3'14 Q3'15 GSEM Operating Profit Note: $ in millions, except per share data 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% 17.2% 20%+ 2006 2007 2008 2009 2010 2011 2012 2013 2014 YTD 2015 2020 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% Platinum Vision 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% 15.1% 20%+ 2006 2007 2008 2009 2010 2011 2012 2013 2014 YTD 2015 2020 Operating Income % of Sales Platinum Vision 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% 3.5% 12-14% 2012 2013 2014 YTD 2015 2020 Operating Income % of Sales Platinum Vision 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% 8.1% 2006 2007 2008 2009 2010 2011 2012 2013 2014 YTD 2015 2020 Operating Income % of Sales At a Glance Performance Products and Solutions Solutions Expanding Profits 2014 Revenues: $0.8 Billion 10-12% Platinum Vision 2014 Revenue by Industry Segment 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% 6.6% 6.5-7.5% 2006 2007 2008 2009 2010 2011 2012 2013 2014 YTD 2015 2020 Operating Income % of Sales 15% 52% 2006 Q3 2015 At a Glance Distribution Key Suppliers 2014 Revenues: $1.1 Billion ROIC Expanding Profits 6.1% Platinum Vision 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 Five consecutive years – CFO Magazine Best Working Capital Management in the chemical industry World’s Best Business Process Excellence Program in 2012* 113 trained Black Belts 235 trained Green Belts 151 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 Application Examples PolyOne Corporation Page 27 Outdoor Applications • Leading provider of high performance specialty materials for the recreational and sports & leisure industry • Well positioned across all segments to address market needs Metal to Polymer Conversion Lightweighting Thermal Management Impact Performance Source: Outdoor Industry Association 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 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 PET Bottling Technology 0.0 10.0 20.0 30.0 40.0 50.0 60.0 70.0 2009 2014 2019 Asia Pacific North America Latin America Western Europe Eastern Europe Middle East and Africa Global PET Packaging Growth 2009-2019 Source: Euromonitor retail off-trade consumption (PET bottles & jars, home care, personal care, food & non-alcoholic beverages) B ill io n un its 5% CAGR 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 2015 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 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 sensory properties PolyOne Corporation Page 34 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 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.
Platform operating income mix percentage 2005* 2008* 2010* 2013 2014 2015 YTD Global Color, Additives and Inks $ 4.3 $ 28.1 $ 37.7 $104.0 $124.9 $ 107.9 Global Specialty Engineered Materials 0.4 17.6 49.7 57.2 72.4 63.2 Designed Structures and Solutions - - - 33.4 45.1 12.0 Specialty Platform $ 4.7 $ 45.7 $ 87.4 $194.6 $242.4 $ 183.1 Performance Products and Solutions 75.7 31.3 54.0 56.0 63.1 43.9 Distribution 19.5 28.1 42.0 63.3 68.2 52.4 Joint ventures 91.9 28.6 18.9 - - — Corporate and eliminations (51.5) (425.1) (27.7) (82.4) (218.6) (59.8) Operating income (loss) GAAP $140.3 $(291.4) $174.6 $231.5 $155.1 $ 219.6 Less: Corporate operating expense 51.5 425.1 27.7 82.4 218.6 59.8 Operating income excluding Corporate $191.8 $133.7 $202.3 $313.9 $373.7 $ 279.4 Specialty platform operating mix percentage 2% 34% 43% 62% 65% 66% Adjusted EPS is calculated as follows: Adjusted EPS 2006Y* 2007Y* 2008Y* 2009Y* 2010Y 2011Y 2012Y 2013Y 2014Y Net income attributable to PolyOne common shareholders $ 130.9 $ 40.9 $ (417.0) $ 106.7 $ 152.5 $ 153.4 $ 53.3 $ 94.0 $ 78.0 Joint venture equity earnings, after tax (68.5) (26.1) (20.8) (19.0) (14.7) (3.7) - - - Special items, after tax(1) (21.2) 41.4 310.0 (31.0) 15.8 (30.5) 35.7 30.4 101.0 Tax adjustments(2) (30.0) (30.7) 147.2 (44.9) (88.3) (42.3) 0.5 2.2 (10.5) Adjusted net income $ 11.2 $ 25.5 $ 19.4 $ 11.8 $ 65.3 $ 76.9 $ 89.5 $ 126.6 $ 168.5 Diluted shares 92.8 93.1 92.7 93.4 96.0 94.3 89.8 96.5 93.5 Adjusted EPS $ 0.12 $ 0.27 $ 0.21 $ 0.13 $ 0.68 $ 0.82 $ 1.00 $ 1.31 $ 1.80 2 Adjusted EPS 2011 Q3 2012 Q3 2013 Q3 2014 Q3 2015 Q3 Net income attributable to PolyOne common shareholders $ 16.0 $ 19.4 $ 23.2 $ 32.3 $ 44.5 Special items, after tax(1) 3.1 5.3 10.5 13.2 12.6 Tax adjustments(2) (0.3) 0.1 1.8 (0.1) (9.6) Adjusted net income $ 18.8 $ 24.8 $ 35.5 $ 45.4 $ 47.5 Diluted shares 94.3 90.2 98.1 93.1 88.4 Adjusted EPS $ 0.20 $ 0.27 $ 0.36 $ 0.49 $ 0.54 * Historical results are shown as presented in prior filings and have not been updated to reflect subsequent changes in accounting principal or discontinued operations. (1) Special items are a non-GAAP financial measure and are used to determine adjusted earnings.
Appendix Q3 2015 Financial Highlights At a Glance�Global Color, Additives and Inks At a Glance�Global Specialty Engineered Materials At a Glance�Designed Structures and Solutions At a Glance�Performance Products and Solutions At a Glance�Distribution Plastics: Key to Future Sustainable Development Commitment to Operational Excellence Application Examples Outdoor Applications Slide Number 28 Authentication Technology 2015 Range Rover Evoque Interior Slide Number 31 Metal Replacement Solutions High-Barrier Packaging Containers Aerospace Applications Baird Non GAAP Rec.pdf Baird - November 10, 2015
https://www.avient.com/sites/default/files/2021-10/avnt-q3-2021-news-release.pdf
Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Sales: Color, Additives and Inks $ 586.6 $ 493.8 $ 1,820.3 $ 977.1 Specialty Engineered Materials 233.6 174.1 690.7 518.2 Distribution 438.8 276.9 1,205.9 805.2 Corporate and eliminations (39.2) (20.3) (99.6) (55.4) Sales $ 1,219.8 $ 924.5 $ 3,617.3 $ 2,245.1 Gross margin: Color, Additives and Inks $ 172.1 $ 155.0 $ 563.0 $ 320.1 Specialty Engineered Materials 63.1 53.4 197.4 148.5 Distribution 39.9 30.8 119.3 91.6 Corporate and eliminations (19.7) (29.0) (33.2) (28.8) Gross margin $ 255.4 $ 210.2 $ 846.5 $ 531.4 Selling and administrative expense: Color, Additives and Inks $ 105.3 $ 104.5 $ 321.1 $ 196.8 Specialty Engineered Materials 31.4 28.7 94.2 84.5 Distribution 16.1 13.3 47.8 40.1 Corporate and eliminations 23.9 30.2 76.2 85.7 Selling and administrative expense $ 176.7 $ 176.7 $ 539.3 $ 407.1 Operating income: Color, Additives and Inks $ 66.8 $ 50.5 $ 241.9 $ 123.3 Specialty Engineered Materials 31.7 24.7 103.2 64.0 Distribution 23.8 17.5 71.5 51.5 Corporate and eliminations (43.6) (59.2) (109.4) (114.5) Operating income $ 78.7 $ 33.5 $ 307.2 $ 124.3 Earnings before interest, taxes, depreciation and amortization (EBITDA): Color, Additives and Inks $ 93.4 $ 76.8 $ 321.1 $ 171.3 Specialty Engineered Materials 39.6 32.2 127.0 86.7 Distribution 24.0 17.7 72.1 51.9 Corporate and eliminations (41.5) (56.7) (105.3) (108.3) Other income, net 1.4 1.5 4.1 12.6 EBITDA $ 116.9 $ 71.5 $ 419.0 $ 214.2 13 Attachment 7 Avient Corporation Reconciliation of Non-GAAP Financial Measures (Unaudited) (In millions, except per share data) Senior management uses gross margin before special items and operating income before special items to assess performance and allocate resources because senior management believes that these measures are useful in understanding current profitability levels and how it may serve as a basis for future performance.
Reconciliation of Pro Forma Adjusted Earnings per Share: Nine Months Ended September 30, 2020 Year Ended December 31, 2020 Net income from continuing operations attributable to Avient shareholders $ 57.8 $ 132.0 Special items, after tax 42.0 24.8 Adjusted net income from continuing operations excluding special items 99.8 156.8 Clariant MB pro forma adjustments to net income from continuing operations(2) 20.7 20.7 Pro forma adjusted net income from continuing operations attributable to Avient shareholders $ 120.5 $ 177.5 Weighted average diluted shares 90.7 90.6 Pro forma impact to diluted shares from January 2020 equity offering(2) 2.9 1.5 Pro forma weighted average diluted shares 93.6 92.1 Adjusted EPS - excluding special items pro forma for Clariant MB acquisition $ 1.29 $ 1.93 (2) Pro forma adjustments for the periods prior to the acquisition date (July 1, 2020) and to give effects to the financing for the acquisition 15 Nine Months Ended September 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 $ 2,245.1 $ — $ 2,245.1 $ 540.5 $ 2,785.6 Operating income $ 124.3 $ 59.1 $ 183.4 $ 45.0 $ 228.4 Interest expense, net (55.3) — (55.3) (18.1) (73.4) Pension settlement gain and mark-to-market adjustment — (6.9) (6.9) — (6.9) Other income, net 12.6 0.3 12.9 — 12.9 Income taxes (22.5) (10.5) (33.0) (6.2) (39.2) Net income attributable to noncontrolling interests (1.3) — (1.3) — (1.3) Net income from continuing operations attributable to Avient shareholders $ 57.8 $ 42.0 $ 99.8 $ 20.7 $ 120.5 Weighted average diluted shares 90.7 Impact to diluted shares from January 2020 equity offering 2.9 Pro forma weighted average diluted shares 93.6 Pro forma adjusted EPS $ 1.29 (2) Pro forma adjustments for the periods prior to the acquisition date (July 1, 2020) and to give effects to the financing for the acquisition 16 Reconciliation of EBITDA by Segment Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Operating income: Color, Additives and Inks $ 66.8 $ 50.5 $ 241.9 $ 123.3 Specialty Engineered Materials 31.7 24.7 103.2 64.0 Distribution 23.8 17.5 71.5 51.5 Corporate and eliminations (43.6) (59.2) (109.4) (114.5) Operating income $ 78.7 $ 33.5 $ 307.2 $ 124.3 Items below OI in Corporate: Other income, net $ 1.4 $ 1.5 $ 4.1 $ 12.6 Depreciation & amortization: Color, Additives and Inks $ 26.6 $ 26.3 $ 79.2 $ 48.0 Specialty Engineered Materials 7.9 7.5 23.8 22.7 Distribution 0.2 0.2 0.6 0.4 Corporate and eliminations 2.1 2.5 4.1 6.2 Depreciation & Amortization $ 36.8 $ 36.5 $ 107.7 $ 77.3 EBITDA: Color, Additives and Inks $ 93.4 $ 76.8 $ 321.1 $ 171.3 Specialty Engineered Materials 39.6 32.2 127.0 86.7 Distribution 24.0 17.7 72.1 51.9 Corporate and eliminations (41.5) (56.7) (105.3) (108.3) EBITDA $ 116.9 $ 71.5 $ 419.0 $ 214.2 EBITDA as a % of Sales: Color, Additives and Inks 15.9 % 15.6 % 17.6 % 17.5 % Specialty Engineered Materials 17.0 % 18.5 % 18.4 % 16.7 % Distribution 5.5 % 6.4 % 6.0 % 6.4 % 17 Reconciliation of Pro Forma EBITDA - Color, Additives and Inks Nine Months Ended September 30, 2020 Sales: Color, Additives and Inks $ 977.1 Clariant MB pro forma adjustments(2) 540.5 Pro forma sales $ 1,517.6 Operating income: Color, Additives and Inks $ 123.3 Clariant MB pro forma adjustments(2) 45.0 Pro forma operating income $ 168.3 Depreciation & amortization: Color, Additives and Inks $ 48.0 Clariant MB pro forma adjustments(2) 30.1 Pro forma depreciation & amortization $ 78.1 Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA): Color, Additives and Inks $ 171.3 Clariant MB pro forma adjustments(2) 75.1 Pro forma EBITDA $ 246.4 Pro forma EBITDA as a % of Sales 16.2 % (2) Pro forma adjustments for the periods prior to the acquisition date (July 1, 2020) and to give effects to the financing for the acquisition Three Months Ended September 30, Nine Months Ended September 30, Reconciliation to EBITDA and Pro Forma Adjusted EBITDA: 2021 2020 2021 2020 Net income from continuing operations – GAAP $ 52.6 $ 2.6 $ 201.7 $ 59.1 Income tax expense 8.5 2.7 51.8 22.5 Interest expense 19.0 29.7 57.8 55.3 Depreciation and amortization from continuing operations 36.8 36.5 107.7 77.3 EBITDA $ 116.9 $ 71.5 $ 419.0 $ 214.2 Special items, before tax 19.9 50.0 36.5 62.0 Interest expense included in special items — (9.6) — (10.1) Depreciation and amortization included in special items (0.9) (1.3) (0.1) (2.5) Adjusted EBITDA $ 135.9 $ 110.6 $ 455.4 $ 263.6 Clariant MB pro forma adjustments(2) — — — 75.1 Pro forma adjusted EBITDA $ 135.9 $ 110.6 $ 455.4 $ 338.7 (2) Pro forma adjustments for the periods prior to the acquisition date (July 1, 2020) and to give effects to the financing for the acquisition NEWS RELEASE Attachment 1
https://www.avient.com/industries/consumer/consumer-discretionary/home-household/housewares-accessories
Consumers are spending more time and money on their homes and want their goods and accessories to reflect their personal tastes.
CORE™ Vinyl Plastisols
CORE™ Vinyl Plastisols - Product Bulletin