https://www.avient.com/sites/default/files/resources/Investor%2520Day%2520-%2520May%25202012%2520-%2520Specialization.pdf
end life”
New designs for energy and carbon efficiency
New applications for used and recycled plastics
Page 31
Therma-Tech™ LED Lighting
• Replaces metal in LED lighting
• Extends LED durability and life
span eliminating hot spots
• Greater design flexibility with • Greater design flexibility with
fewer parts
• Weight reduction
• Simplifies manufacturing and
lowers total production cost
Page 32
Decreasing Decreasing
Dependence on Dependence on
Fossil FuelsFossil Fuels
Globalizing and Globalizing and
LocalizingLocalizing
Protecting the Protecting the
EnvironmentEnvironment
Protecting the Protecting the
EnvironmentEnvironment
Improving Improving
Health and Health and
WellnessWellness
Improving Improving
Health and Health and
WellnessWellness
Alignment with Megatrends
• Aging
population
• Longer life
expectancy
• Healthy living
• Aging in place
• Aging
population
• Longer life
expectancy
• Healthy living
• Aging in place
• Environmental
consciousness
• Alternative
energy
• Resource
efficiency
• Biotechnology
• Environmental
consciousness
• Alternative
energy
• Resource
efficiency
• Biotechnology
• Global
leader/local
expert with
customized
solutions
• Global OEMs
seeking one
standard of
service
everywhere
• Global
leader/local
expert with
customized
solutions
• Global OEMs
seeking one
standard of
service
everywhere
• Efficiency focus
• Reduced
size/weight
• Mass transit
• Alternative
materials
• Electric vehicles
• Efficiency focus
• Reduced
size/weight
• Mass transit
• Alternative
materials
• Electric vehicles
Page 33
48.7%
$40.5
26.3%
Research & Development
Spending
Specialty Platform
Vitality Index Progression*
Innovation Drives Earnings Growth
Specialty Platform
Gross Margin %
* Percentage of Specialty platform revenue from products introduced in last five years
19.5%
2006 2011PF
$20.3
2006 2011PF
14.3%
2006 2011PF
($ millions)
Page 34
StrategyStrategy
PolyOne Innovation Framework
Unmet Needs
Identification
Idea Generation
and Shaping
Offering Offering Offering Offering
Phased Offering
Launch
Offering Offering
LaunchLaunch
Offering Offering
DevelopmentDevelopment
Market
Penetration
and Value
Maximization
Intellectual Property ● Resources ● CultureIntellectual Property ● Resources ● Culture
Page 35
• Accelerate growth in targeted industries and expand
geographic presence through market-driven innovations
• Leverage new talent, tools, and training to drive customer
satisfaction and margin expansion
Critical Imperatives
satisfaction and margin expansion
• Translate best practices
to / from ColorMatrix
• Drive specialization using a
value-based mindset
Page 36
Page 37
https://www.avient.com/sites/default/files/2025-02/Avient Investor Presentation - February 2025_w_Non-GAAP.pdf
All Rights Reserved
2025 10
Organic revenue growth with margin expansion
LONG TERM FINANCIAL TARGETS
+100 to +200bps
above GDP
Organic revenue growth
Copyright © .
All Rights Reserved
2025 11
Pathway to 20%+ adjusted EBITDA margins
1
Operating
leverage
• Organic volume growth and
SG&A efficiencies from prioritizing
resources across the company
2
Mix
improvement
• Increased sales in higher margin
growth platforms
3
Productivity • Manufacturing & sourcing efficiencies
• Footprint optimization
• Digital technologies
Avient margin expansion
Schematic illustration only
Productivity
+400bps
margin expansion 20%+
Strategic
objective
16.2%
2024
adjusted
EBITDA
margin
+2%
+1%
Operating
leverage
+1%
Mix
improvement
Copyright © .
EBITDA
358
384
FY 2023 FY 2024
• Driven by new applications for
drug delivery and building &
construction as well as demand
recovery in packaging and
consumer
• Adjusted EBITDA margin
expansion driven by higher sales
and net price benefit
EXCL.
https://www.avient.com/sites/default/files/2021-03/decking-case-study-1-pager.pdf
STRUCTURAL
DECKING
R E I N F O R C E D H D P E L U M B E R
• Reinforcement to improve strength of HDPE decking
• Composite tape compatible with HDPE for strong
adhesion
• Low thermal expansion
• Domestic (U.S.) supply and manufacturing
• Added strength to HDPE deck boards to
enable industry-leading load capacity and
joist spacing spans
• Extended product life with superior adhesion
of PE tape via co-extrusion
• Improved supply reliability with product
manufactured in Englewood, CO
Polystrand™ unidirectional thermoplastic
composite tape
KEY REQUIREMENTS WHY AVIENT?
https://www.avient.com/sites/default/files/resources/Investor%2520Day%2520-%2520May%25202012%2520-%2520Global%2520Color%252C%2520Additives%252C%2520and%2520Inks.pdf
Van Hulle
Page 53
United States
33%
Europe
47%
Canada
Asia
12%
Latin America
Eastern
Europe
2%
2011 Revenue: $0.7 Billion*2011 Revenue: $0.7 Billion* SolutionsSolutions
At a Glance
Global Color, Additives, and Inks
Building &
Construction
11%
Wire & Cable
15%
Consumer
6%
Packaging
36%
Industrial
10%
Misc.
7%
HealthCare
3%
Transportation
6%
Textiles
6%
Canada
1%
Latin America
5%
2011 Revenue by Industry Segment*2011 Revenue by Industry Segment*
*Pro forma for the acquisition of ColorMatrix
Expanding ProfitsExpanding Profits
1.7%
4.6%
5.1% 5.5%
7.1%
9.6%
12-16%
2006 2007 2008 2009 2010 2011PF 2015
Operating Income % of Sales
Target
Page 54
Value Proposition
• GCAI is a global leader enabling OEMs and converters to
profitably expand their business with customized color and
additive solutions
Transformation Highlights
• Mix improvement and value-based selling has
Value Proposition and Transformation Highlights
Global Color, Additives, and Inks
• Mix improvement and value-based selling has
driven nearly 800 basis points increase in
operating margin since 2006
• 2011 acquisition of ColorMatrix accelerates
innovation pipeline and expansion into
new markets
> $12B Addressable Market
Page 55
• Unbiased, solution-based culture selling value
� Customer-centric approach
� Economic value impact documented for customers
• Complete package, product range and
service offering
� Custom solutions for customers’ unique requirements
Key Differentiators
Global Color, Additives, and Inks
� Custom solutions for customers’ unique requirements
� Industry-leading service offering
• Coordinated global infrastructure
� Consistency in product and
customer service
� Supply-chain reliability
Page 56
From Volume
Commodity white dominated mix
To Value
Focus on specialty color
Global Film Customer
Volume Revenue Gross Margin $
Mix Transformation – Executing the Strategy
Global Color, Additives, and Inks
2010 2011 2010 2011 2010 2011
Page 57
Global Packaging Customer
Volume Sales Gross Margin $
From Volume
Commodity white dominated mix
To Value
Focus on specialty color
Mix Transformation – Executing the Strategy
Global Color, Additives, and Inks
2010 2011 2010 2011 2010 2011
Page 58
• OnColor™ HC Plus
� Applications: Medical devices
� Customer benefits: Brand enhancement, expanded market
opportunities, speed-to-market
• WithStand™ Antimicrobial Solutions
� Applications: Healthcare devices, appliances, kitchen utensils
Key Innovations
Global Color, Additives, and Inks
� Applications: Healthcare devices, appliances, kitchen utensils
and surfaces, children’s toys
� Customer benefits: Expanded market opportunities, extended
product life
• OnCap™ Antifog
� Applications: Food packaging
� Customer benefits: Extended shelf life, improved product
aesthetics, production efficiencies
Page 59
• $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
Market Opportunity
Shelf-life extension
Greater product
consistency
Weight reduction
Performance Additives
Global Color, Additives, and Inks
the environment
Leading Global Supplier of Additives In Fast Growing PET Market
consistency
Recyclability and
reduced carbon
footprint
Color and special
effects
Enhanced product
aesthetics
High heat resistance
4% 4%
8%
9% 9%
10%
11%
14%
Western
Europe
North
America
South
America
MEA Easter
Europe
Asia
Pacific
China India
PET 2008-13P CAGR
Page 60
HyGuardTM Oxygen Barrier System
• Applications: Beverage containers, food packaging
• Function: Active scavenging system for
ColorMatrix Innovation
Global Color, Additives, and Inks
• Function: Active scavenging system for
oxygen-barrier improvement
• Customer benefits: Extended shelf-life,
light-weight, recyclable
Page 61
ColorMatrix Innovation
Global Color, Additives, and Inks
ExceliteTM Foaming Agent
• Applications: Vinyl sheet for digital printing
• Function: Chemical foaming agent for
weight reduction
• Customer benefits: Increased product
quality, operational efficiencies
Page 62
Joule RHBTM Advanced Reheat Technology
• Applications: PET containers
• Function: Infra-red absorber for improved
ColorMatrix Innovation
Global Color, Additives, and Inks
• Function: Infra-red absorber for improved
• Customer benefits: Sustainability,
operational and energy savings
reheating efficiency
Page 63
• Accelerate customer development
pipeline with OnColor™ HC Plus
• Provide solutions addressing infection
concerns in healthcare facilities
Areas of Focus
Global Color, Additives, and Inks
$8.7
$20.0
Healthcare
2006 2011PFconcerns in healthcare facilities
• Help customers expand into new
markets with HyGuard™ technology
• Extend food shelf life and consumer
appeal with OnCap™ Anti-Fog $130.2
$268.0
2006 2011PF
Packaging
2006 2011PF
(Revenue in $ millions)
2006 2011PF
2006 2011PF
Page 64
Critical Imperatives and 2015 Goal
Global Color, Additives, and Inks
Critical Imperatives
• Integrate and leverage ColorMatrix technology and
customer relationships
• Identify and focus on specialty applications within our
target markets
• Accelerate global expansion and profitability
improvements in emerging markets, leveraging
success in U.S. and Europe
2015 Goal
• 12 - 16% return on sales
Page 65
Page 66
https://www.avient.com/sites/default/files/2020-08/advanced-composites-overview-brochure_0.pdf
AVIENT
ADVANCED
COMPOSITES
OVERVIEW
LOWER
ENERGY
COSTS
Requires less
energy during
installation
and use
INCREASE
COMPETITIVE
ADVANTAGE
Customizable
solutions for
specific
application
needs
REDUCE
PRODUCT
LIFECYCLE
COSTS
Lower
installation
time, as well as
warranty and
part replacement
expenses
EXTEND
PRODUCT
LIFETIME
Corrosion,
flame, fatigue
and UV
resistant for
improved
durability
DESIGN
STRONG,
LIGHTER
WEIGHT
COMPONENTS
Up to 75%
lighter than
steel and up
to 25% lighter
than aluminum
ADVANCED COMPOSITES
An exceptional alternative to traditional materials such
as wood, ceramic and metal, advanced composite
solutions enable designers to:
• Design lighter weight structural components for
increased lifetime performance and improved
fuel efficiency—higher strength-to-weight ratios
to exceed the structural performance of traditional
materials while significantly reducing weight—up
to 75% lighter than steel and up to 25% lighter
than aluminum
• Extend product lifetime to reduce part
replacement and decrease warranty expenses—
the corrosion, weather, flame and fatigue
resistance of composite solutions improve
component durability
• Reduce product lifecycle costs—the extended
product lifetime, along with the potential for
reduced installation time and cost due to the lighter
weight of composite solutions, significantly reduces
the associated cost over the lifetime of a part
• Lower energy costs—by leveraging a higher
strength-to-weight ratio, composite solutions
allow designers to engineer products that require
less energy or power during installation and use
• Increase competitive advantage—Avient
advanced composite solutions can be customized
to provide electrical insulation, thermal insulation,
radiopacity, low thermal expansion, flexural
memory and load damping, while delivering
desired performance and aesthetic specifications
TRANSPORTATION
Truck floors, liners and aerodynamic components,
rail car doors and panels, automotive structural
solutions, leaf springs, traffic safety markers
and delineators, air cargo unit load devices (ULDs)
The Avient advanced composites portfolio offers customized solutions
to serve a full range of markets and industries, including:
USES & APPLICATIONS
ENERGY
Wind turbine blade stiffening components,
sucker rods, oil & gas production solutions
BUILDING & CONSTRUCTION
Structural blast protection, garage doors, modular
construction, temporary shelters, architectural
columns, concrete and masonry reinforcements,
pipe reinforcement
HEALTHCARE
External orthopedic fixators, endoscopy wands,
prosthetics
MARINE
Panels for decking, bulkheads, cabinets, doors,
transoms, ceilings; reinforcements for stringers;
sail battens
CONSUMER & RECREATION
Archery bow limbs and risers, furniture springs, diving
board springs, golf flagpoles, snowsports equipment,
sporting stick shafts, paddle shafts, lightweight and
extendable mast structures
ELECTRICAL &
TELECOMMUNICATIONS
Utility poles and cross-arms, high voltage transmission
& distribution insulator cores, surge arresters, bus bar
covers and electrical tool components
INDUSTRIAL
Pallet stiffeners, pipe reinforcement, conveyor springs,
dock shelters
PROCESSES &
CAPABILITIES
Avient’s reinforced composite technologies use carbon, glass and aramid fibers with custom formulated thermoset
or thermoplastic resins in continuous forming processes.
These methods include:
PULTRUSION
• Fibers are impregnated with liquid thermoset
resins, then pulled through a heated die to cure
the resin and form the product
• This continuous, automated manufacturing
process creates constant cross section profiles
of any pre-determined length with consistent,
uniform quality and exceptional mechanical
performance
• Applications include rods and profiles of various
lengths and complexities, such as utility poles,
insulator core rods and structural beams
CONTINUOUS FILAMENT WINDING
• Combines the principles of filament winding with
pultrusion to create constant or tapered cross-
sectional tubing in precision sizes
• The unique axial and biaxial fiber orientation
provides flexural and tensile strength, as well as
crush and burst resistance
• Applications include lightweight shelter frames
and sporting goods components
CONTINUOUS RESIN TRANSFER MOLDING (CRTM™)
• Engineered core materials are sandwiched
between structural composite laminate face sheets
• Continuous composite sandwich panels feature
high specific strength and stiffness-to-weight ratio
• Applications include ballistic resistant panels,
truck floors and rail car doors
CONTINUOUS FIBER REINFORCED THERMOPLASTICS
• Fully recyclable tape, X-Ply™ (0°/90°), and other
multi-ply configurations with widths up to 10' wide
• Sandwich panels in unlimited lengths,
up to 6" thick and 10' wide
• High volume production capacity
• Applications include structural and aerodynamic
components in transportation, and reinforcement
of materials such as wood and metal
THERMOSET COMPOSITE LAMINATES & BARSTOCK
• Unidirectionally reinforced barstock, laminates
and hybrid composites engineered to maximize
deflection and fatigue resistance
• Customizable shapes and sizes
• Applications include archery bow limbs, flat
springs, prosthetics, sporting equipment
THERMOSET FINISHING OPERATIONS
• Customized finishing capabilities for barstock and
laminates including machining, water-jet cutting,
profiling/shaping, sanding, slitting, laminating,
molding and coatings
TESTING CAPABILITIES
• Mechanical – Flexural, tensile, compression, shear,
fatigue, impact resistance
• Physical – Specific gravity/density, Barcol
hardness, water absorption, void content,
resin/fiber content, dye penetrant, viscosity
• Thermomechanical – Coefficient of linear thermal
expansion, glass transition temperature, deflection
temperature, degree of cure, curing properties
• Electrical – High-voltage, low current dry arc
resistance of solid electrical insulation, dielectric
strength, water diffusion
ABOUT AVIENT
ADVANCED COMPOSITES
The Avient advanced composites portfolio
consists of Glasforms™, Gordon Composites™
and Polystrand™ branded materials.
https://www.avient.com/sites/default/files/2020-10/auto-injector-application-study.pdf
We can help tackle your toughest
challenges with our
• In-depth industry knowledge
• Expansive material solutions
• Far-reaching technical capabilities
and services
Avient Corporation 4
1
Injection window
Integrated rigid
needle shield
2
Cap
3
1.
Requirements:
Sealing the syringe and
displacing the medicant
Solution:
Versaflex™ HC TPEs
Temperature Control
The expansion of new drugs for
different disease states allows more
patients to experience the
convenience of auto-injectors.
https://www.avient.com/sites/default/files/resources/POL%2520IR%2520Presentation%2520-%2520BOAML%2520Basic%2520Materials%2520Conference%2520w%2520non-GAAP%252012%252011%25202014.pdf
PolyOne Corporation Page 4
PolyOne Commodity to Specialty
Transformation
• Volume driven,
commodity
producer
• Heavily tied to
cyclical end
markets
• Performance largely
dependent on non-
controlling joint
ventures
2000-2005 2006 - 2009 2010 – 2014 2015 and beyond
• Steve Newlin
appointed,
Chairman,
President and CEO
• New leadership
team appointed
• Implementation of
four pillar strategy
• Focus on value
based selling,
investment in
commercial
resources and
innovation to drive
transformation
• 20 consecutive
quarters of double-
digit adjusted EPS
growth
• Shift to faster
growing, high
margin, less cyclical
end markets
• Key acquisitions
propel current and
future growth, as
well as margin
expansion
• Established
aggressive 2015
targets
• Continue specialty
transformation
• Goal of $2.50
adjusted EPS by
2015, three times
the EPS generated
in 2011 of $0.82
• Drive double digit
operating income
and adjusted EPS
growth
PolyOne Corporation Page 5
Building &
Construction
13%
Industrial
12%
Transportation
18%
Wire & Cable
9%
Packaging
16%
Consumer
10%
HealthCare
11% Appliance
6%
Electronics &
Electrical
5%
2013 Revenues: $3.8 Billion
End Markets
2013 Revenues: $3.8 Billion
PolyOne
At A Glance
United
States
67%
Europe
14%
Canada
7% Asia6%
Latin
America
6%
Specialty
54%
PP&S
18%
Distribution
28%
$13
$31
$46 $46
$92 $96
$122
$195
$0
$50
$100
$150
$200
2006 2007 2008 2009 2010 2011 2012 2013
Specialty Operating Income
PolyOne Corporation Page 6
Old
PolyOne
*Operating Income excludes corporate charges and special items
2%
34% 43%
62%
65%
0%
20%
40%
60%
80%
100%
2005 2008 2010 2013 2014 YTD 2015
%
o
f O
pe
ra
tin
g
In
co
m
e*
JV's Performance Products & Solutions Distribution Specialty
65-75%
Specialty OI $5M $46M $87M $195M $191M Target
Mix Shift Highlights Specialty Transformation
Transformation 2015 Target
PolyOne Corporation Page 7
Confirmation of Our Strategy
The World’s Premier Provider of Specialized
Polymer Materials, Services and Solutions
Specialization Globalization
Operational
Excellence
Commercial
Excellence
PolyOne Corporation Page 8
Strategy and Execution Drive Results
$0.12
$0.27
$0.21
$0.13
$0.68
$0.82
$1.00
$1.31
'06 '07 '08 '09 '10 '11 '12 '13
‘06-‘13 EPS CAGR = 41%
EPS Share Price vs.
S&P 500
-150%
-50%
50%
150%
250%
350%
450%
550%
POL S&P 500
All time high of
$43.34
July 1st, 2014
PolyOne Corporation Page 9
2006 2014 YTD 2015
“Where we were” “Where we are” Target
1) Operating Income %
Specialty:
Global Color, Additives & Inks 1.7% 14.9% 12 – 16%
Global Specialty Engineered
Materials 1.1% 12.1% 12 – 16%
Designed Structures & Solutions -- 7.6% 8 – 10%
Performance Products &
Solutions 5.5% 8.1% 9 – 12%
Distribution 2.6% 6.2% 6 – 7.5%
2) Specialty Platform % of
Operating Income 6.0% 65% 65 – 75%
3) ROIC* 5.0% 10.6% 15%
4) Adjusted EPS Growth N/A 37% Double Digit Expansion
Proof of Performance & 2015 Goals
*ROIC is defined as TTM adjusted OI divided by the sum of average debt and equity over a 5 quarter period
PolyOne Corporation Page 10
32% Adjusted EPS CAGR from 2011
2015 EPS: $2.50
2011 EPS: $0.82
Continued Gross Margin
Expansion
Mergers & Acquisitions
Spartech Accretion
Incremental Share Buybacks
Ongoing LSS Programs
(50-100 bps/yr)
Accelerated Innovation
& Mix Improvement Several Levers to
Drive Growth
Mid Single Digit Revenue Growth
PolyOne Corporation Page 11
Innovation Drives Earnings Growth
*Percentage of Specialty Platform revenue from products introduced in last five years
$20
$53
2006 2013
Research & Development
Spending
($ millions)
Specialty Platform
Vitality Index Progression*
14%
31%
2006 2013
Specialty Platform
Gross Margin %
20%
43%
2006 2013
Specialty Vitality Index Target ≥ 35%
Vitality Products
+ 700 to 1000 bps
PolyOne Corporation Page 12
Prototype Frame
Opportunity
Scale-up &
Test Market
Build
Business Case
Commercial
Launch
Phase
1
Phase
2
Phase
3
Phase
4
Phase
5
4
11
5
10
6
9
3 4 2
15
9
1
10
4
Breakthrough
Platform
Derivative
A Rich Pipeline of Opportunity
Number of Projects 25 14 19 17 18 93
Addressable Market
($ millions)
TBD TBD $800 $450 $450 $1,700
PolyOne Corporation Page 13
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 14
60%
100%
20%
30%
40%
50%
60%
70%
80%
90%
100%
2008 2014
Pension Funding**
As of September 30, 2014
Debt Maturities & Pension Funding – 9/30/14
Net Debt / EBITDA* = 1.7x
$48
$317
$600
$0
$100
$200
$300
$400
$500
$600
$700
$800
2015 2020 2023
Debt Maturities
As of September 30, 2014
($ millions)
Coupon Rates: 7.500% 7.375% 5.250%
** includes US-qualified pension plans only *TTM 9/30/2014
PolyOne Corporation Page 15
Free Cash Flow and Strong Balance Sheet
Fund Investment / Shareholder Return
Expanding our sales, marketing,
and technical capabilities
Targets that expand our:
• Specialty offerings
• End market presence
• Geographic footprint
• Operating Margin
Synergy opportunities
Adjacent material solutions
Repurchased 1.5 million shares in
Q3 2014
Repurchased 9.7 million
shares since early 2013
10.3 million shares are
available for
repurchase under the
current authorization
Organic
Growth
Acquisitions
Share
Repurchases
Dividends
Investing in operational and
LSS initiatives (including
synergy capture)
Manufacturing alignment
$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
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?
https://www.avient.com/sites/default/files/resources/POL%2520IR%2520Presentation%2520Jefferies%2520Conf%2520w%2520Non%2520GAAP%252008%252012%25202014.pdf
PolyOne Corporation Page 3
PolyOne Commodity to Specialty
Transformation
• Volume driven,
commodity
producer
• Heavily tied to
cyclical end
markets
• Performance largely
dependent on non-
controlling joint
ventures
2000-2005 2006 - 2009 2010 – 2014 2015 and beyond
• Steve Newlin
appointed,
Chairman,
President and CEO
• New leadership
team appointed
• Implementation of
four pillar strategy
• Focus on value
based selling,
investment in
commercial
resources and
innovation to drive
transformation
• 19 consecutive
quarters of double-
digit adjusted EPS
growth
• Shift to faster
growing, high
margin, less cyclical
end markets
• Key acquisitions
propel current and
future growth, as
well as margin
expansion
• Established
aggressive 2015
targets
• Continue specialty
transformation
• Goal of $2.50
Adjusted EPS by
2015, nearly double
2013 EPS
• Drive double digit
operating income
and adjusted EPS
growth
PolyOne Corporation Page 4
Building &
Construction
13%
Industrial
12%
Transportation
18%
Wire & Cable
9%
Packaging
16%
Consumer
10%
HealthCare
11% Appliance
6%
Electronics &
Electrical
5%
2013 Revenues: $3.8 Billion
End Markets
2013 Revenues: $3.8 Billion
PolyOne
At A Glance
United
States
67%
Europe
14%
Canada
7% Asia6%
Latin
America
6%
Specialty
54%
PP&S
18%
Distribution
28%
$13
$31
$46 $46
$92 $96
$122
$195
$0
$50
$100
$150
$200
2006 2007 2008 2009 2010 2011 2012 2013
Specialty Operating Income
PolyOne Corporation Page 5
Old
PolyOne Transformation
*Operating Income excludes corporate charges and special items
2%
34% 43%
62%
66%
0%
20%
40%
60%
80%
100%
2005 2008 2010 2013 2014 YTD 2015
%
o
f O
pe
ra
tin
g
In
co
m
e*
JV's Performance Products & Solutions Distribution Specialty
65-75%
Specialty OI $5M $46M $87M $195M $129M Target
Mix Shift Highlights Specialty Transformation
2015
Target
PolyOne Corporation Page 6
Confirmation of Our Strategy
The World’s Premier Provider of Specialized
Polymer Materials, Services and Solutions
Specialization Globalization
Operational
Excellence
Commercial
Excellence
PolyOne Corporation Page 7
-150%
-50%
50%
150%
250%
350%
450%
550%
POL S&P 500
Strategy and Execution Drive Results
$0.12
$0.27
$0.21
$0.13
$0.68
$0.82
$1.00
$1.31
'06 '07 '08 '09 '10 '11 '12 '13
‘06-‘13 EPS CAGR = 41%
EPS Share Price vs.
S&P 500
All time high of
$43.34
July 1st, 2014
PolyOne Corporation Page 8
2006 2014 YTD 2015
“Where we were” “Where we are” Target
1) Operating Income %
Specialty:
Global Color, Additives & Inks 1.7% 15.2% 12 – 16%
Global Specialty Engineered
Materials 1.1% 11.8% 12 – 16%
Designed Structures & Solutions -- 7.1% 8 – 10%
Performance Products &
Solutions 5.5% 8.0% 9 – 12%
Distribution 2.6% 6.0% 6 – 7.5%
2) Specialty Platform % of
Operating Income 6.0% 66% 65 – 75%
3) ROIC* 5.0% 9.9% 15%
4) Adjusted EPS Growth N/A 40% Double Digit Expansion
Proof of Performance & 2015 Goals
*ROIC is defined as TTM adjusted OI divided by the sum of average debt and equity over a 5 quarter period
(Est. in 2012)
PolyOne Corporation Page 9
Bridge to $2.50 Adjusted EPS by 2015
2015 EPS: $2.50
2013 EPS: $1.31
Continued Gross Margin
Expansion
Mergers & Acquisitions
Spartech Accretion
Incremental Share Buybacks
Ongoing LSS Programs
(50-100 bps/yr)
Accelerated Innovation
& Mix Improvement Several Levers to
Drive Growth
Mid Single Digit Revenue CAGR
PolyOne Corporation Page 10
Innovation Drives Earnings Growth
*Percentage of Specialty Platform revenue from products introduced in last five years
$20
$53
2006 2013
Research & Development
Spending
($ millions)
Specialty Platform
Vitality Index
Progression*
14.3%
30.7%
2006 2013
Specialty Platform
Gross Margin %
19.5%
43.0%
2006 2013
Specialty Vitality Index Target ≥ 35%
PolyOne Corporation Page 11
Prototype Frame
Opportunity
Scale-up &
Test Market
Build
Business Case
Commercial
Launch
Phase
1
Phase
2
Phase
3
Phase
4
Phase
5
4
11
5
10
6
9
3 4 2
15
9
1
10
4
Breakthrough
Platform
Derivative
A Rich Pipeline of Opportunity*
Number of Projects 25 14 19 17 18 93
Addressable Market
($ millions)
TBD TBD $800 $450 $450 $1,700
*Pipeline as of May 29, 2014 as presented during our Innovation Day
PolyOne Corporation Page 12
Healthcare
Consumer
Packaging and Additive Technology
Transportation
Unique and Innovative Solutions
https://www.dropbox.com/sh/dwe4t8aacvhb8ui/uD3p_bdglP/Presentation revise pics/GLS Beverage can closure XO 2.jpg
https://www.dropbox.com/sh/dwe4t8aacvhb8ui/-YgkycKypw/Anti-Counterfeiting release & images/GN1979.JPG
PolyOne Corporation Page 13
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 14
60%
100%
20%
30%
40%
50%
60%
70%
80%
90%
100%
2008 2014
Pension Funding**
As of June 30, 2014
Debt Maturities & Pension Funding – 6/30/14
Net Debt / EBITDA* = 1.8x
$48
$317
$600
$0
$100
$200
$300
$400
$500
$600
$700
$800
2015 2020 2023
Debt Maturities
As of June 30, 2014
($ millions)
Coupon Rates: 7.500% 7.375% 5.250%
** includes US-qualified pension plans only *TTM 6/30/2014
PolyOne Corporation Page 15
Free Cash Flow and Strong Balance Sheet
Fund Investment / Shareholder Return
$0.16
$0.20
$0.24
$0.32
$0.10
$0.20
$0.30
$0.40
2011 2012 2013 2014
Annual Dividend
Expanding our sales, marketing,
and technical capabilities
Targets that expand our:
• Specialty offerings
• End market presence
• Geographic footprint
• Operating Margin
Synergy opportunities
Adjacent material solutions
Repurchased 1.8 million shares in
Q2 2014
Repurchased 8.2 million
shares since early 2013
11.8 million shares are
available for
repurchase under the
current authorization
Organic
Growth
Acquisitions
Share
Repurchases
Dividends
Investing in operational and
LSS initiatives (including
synergy capture)
Manufacturing alignment
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?
https://www.avient.com/sites/default/files/resources/POL%2520IR%2520Presentation%2520Credit%2520Suisse%2520w%2520non%2520GAAP%25206%252025%25202014.pdf
PolyOne Corporation Page 4
PolyOne Commodity to Specialty
Transformation
• Volume driven,
commodity
producer
• Heavily tied to
cyclical end
markets
• Performance largely
dependent on non-
controlling joint
ventures
2000-2005 2006 - 2009 2010 – 2014
2015 and
beyond
• Steve Newlin
appointed,
Chairman,
President and CEO
• New leadership
team appointed
• Implementation of
four pillar strategy
• Focus on value
based selling,
investment in
commercial
resources and
innovation to drive
transformation
• 18 consecutive
quarters of double-
digit adjusted EPS
growth
• Shift to faster
growing, high
margin, less cyclical
end markets
• Key acquisitions
propel current and
future growth, as
well as margin
expansion
• Established
aggressive 2015
targets
• Continue specialty
transformation
• Targeting $2.50
Adjusted EPS by
2015, nearly double
2013 EPS
• Drive double digit
operating income
and adjusted EPS
growth
PolyOne Corporation Page 5
Building &
Construction
13%
Industrial
12%
Transportation
18%
Wire & Cable
9%
Packaging
16%
Consumer
10%
HealthCare
11% Appliance
6%
Electronics &
Electrical
5%
2013 Revenues: $3.8 Billion
End Markets
2013 Revenues: $3.8 Billion
PolyOne
At A Glance
United
States
67%
Europe
14%
Canada
7%
Asia
6%
Latin
America
6%
Specialty
54%
PP&S
18%
Distribution
28%
$13
$31
$46 $46
$92 $96
$122
$195
$0
$50
$100
$150
$200
2006 2007 2008 2009 2010 2011 2012 2013
Specialty Operating Income
PolyOne Corporation Page 6
Old
PolyOne Transformation
*Operating Income excludes corporate charges and special items
2%
34%
43%
62% 64%
0%
20%
40%
60%
80%
100%
2005 2008 2010 2013 Q1 2014 2015
%
o
f
O
p
e
ra
ti
n
g
I
n
c
o
m
e
*
JV's Performance Products & Solutions Distribution Specialty
65-75%
Specialty OI $5M $46M $87M $195M $60M Target
Mix Shift Highlights Specialty Transformation
2015
Target
PolyOne Corporation Page 7
Confirmation of Our Strategy
The World’s Premier Provider of Specialized
Polymer Materials, Services and Solutions
Specialization Globalization
Operational
Excellence
Commercial
Excellence
PolyOne Corporation Page 8
-150.00%
-50.00%
50.00%
150.00%
250.00%
350.00%
450.00%
550.00%
POL S&P 500
Strategy and Execution Drive Results
$0.12
$0.27
$0.21
$0.13
$0.68
$0.82
$1.00
$1.31
'06 '07 '08 '09 '10 '11 '12 '13
‘06-‘13 EPS CAGR = 41%
EPS Share Price vs.
S&P 500
All time high of
$42.47
June 6th, 2014
PolyOne Corporation Page 9
2006 Q1 2014 2015
“Where we were” “Where we are” Target
1) Operating Income %
Specialty:
Global Color, Additives & Inks 1.7% 13.8% 12 – 16%
Global Specialty Engineered
Materials
1.1% 11.6% 12 – 16%
Designed Structures & Solutions -- 6.5% 8 – 10%
Performance Products &
Solutions
5.5% 7.7% 9 – 12%
Distribution 2.6% 6.1% 6 – 7.5%
2) Specialty Platform % of
Operating Income
6.0% 64% 65 – 75%
3) ROIC* 5.0% 9.4% 15%
4) Adjusted EPS Growth N/A 42%
Double Digit
Expansion
Proof of Performance & 2015 Goals
*ROIC is defined as TTM adjusted OI divided by the sum of average debt and equity over a 5 quarter period
PolyOne Corporation Page 10
Bridge to $2.50 Adjusted EPS by 2015
2015 EPS: $2.50
2013 EPS: $1.31
Continued Gross Margin
Expansion
Mergers & Acquisitions
Spartech Accretion
Incremental Share Buybacks
Ongoing LSS Programs
(50-100 bps/yr)
Accelerated Innovation
& Mix Improvement
Several Levers to
Drive Growth
Mid Single Digit Revenue CAGR
PolyOne Corporation Page 11
Innovation Drives Earnings Growth
*Percentage of Specialty Platform revenue from products introduced in last five years
$20
$53
2006 2013
Research & Development
Spending
($ millions)
Specialty Platform
Vitality Index
Progression*
14.3%
30.7%
2006 2013
Specialty Platform
Gross Margin %
19.5%
43.0%
2006 2013
Specialty Vitality Index Target ≥ 35%
PolyOne Corporation Page 12
Healthcare
Consumer
Packaging and Additive Technology
Transportation
Unique and Innovative Solutions
https://www.dropbox.com/sh/dwe4t8aacvhb8ui/uD3p_bdglP/Presentation revise pics/GLS Beverage can closure XO 2.jpg
https://www.dropbox.com/sh/dwe4t8aacvhb8ui/-YgkycKypw/Anti-Counterfeiting release & images/GN1979.JPG
PolyOne Corporation Page 13
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 14
60%
100%
20%
30%
40%
50%
60%
70%
80%
90%
100%
2008 2014
Pension Funding**
As of March 31, 2014
Debt Maturities & Pension Funding – 3/31/14
Net Debt / EBITDA* = 1.9x
$48
$317
$600
$0
$100
$200
$300
$400
$500
$600
$700
$800
2015 2020 2023
Debt Maturities
As of March 31, 2014
($ millions)
Coupon Rates: 7.500% 7.375% 5.250%
** includes US-qualified pension plans only *TTM 3/31/2014
PolyOne Corporation Page 15
Free Cash Flow and Strong Balance Sheet
Fund Investment / Shareholder Return
$0.16
$0.20
$0.24
$0.32
$0.10
$0.20
$0.30
$0.40
2011 2012 2013 2014
Annual Dividend
Expanding our sales, marketing,
and technical capabilities
Targets that expand our:
• Specialty offerings
• End market presence
• Geographic footprint
• Operating Margin
Synergy opportunities
Adjacent material solutions
Repurchased 1.4 million shares in
Q1 2014
Repurchased 6.4 million
shares since April 2013
13.6 million shares are
available for
repurchase under the
current authorization
Organic
Growth
Acquisitions
Share
Repurchases
Dividends
Investing in operational and
LSS initiatives (including
synergy capture)
Manufacturing alignment
PolyOne Corporation Page 16
Formula for Success
Innovation
Market
Beating
Performance
Excellence in Execution
PolyOne Corporation Page 17
The New PolyOne: A Specialty Growth Company
Why Invest In PolyOne?
https://www.avient.com/sites/default/files/resources/POL%2520IR%2520Presentation%2520GS%2520w%2520non%2520GAAP%25205_21_14.pdf
Use of Non-GAAP Measures
Page 3
PolyOne Commodity to Specialty Transformation
• Volume driven,
commodity producer
• Heavily tied to cyclical
end markets
• Performance largely
dependent on non-
controlling joint
ventures
2000-2005 2006 - 2009 2010 – 2014 2015 and beyond
• Steve Newlin
appointed, Chairman,
President and CEO
• New leadership team
appointed
• Implementation of
four pillar strategy
• Focus on value based
selling, investment in
commercial resources
and innovation to drive
transformation
• 18 consecutive
quarters of double-
digit adjusted EPS
growth
• Shift to faster growing,
high margin, less
cyclical end markets
• Key acquisitions propel
current and future
growth, as well as
margin expansion
• Established aggressive
2015 targets
• Continue specialty
transformation
• Targeting $2.50
Adjusted EPS by 2015,
nearly double 2013
EPS
• Drive double digit
operating income and
adjusted EPS growth
Page 4
2013 Revenues: $3.8 Billion
End Markets
2013 Revenues: $3.8 Billion
Page 5
PolyOne
At A Glance
United
States
67%
Europe
14%
Canada
7% Asia6%
Latin
America
6%
Specialty
54%
PP&S
18%
Distribution
28%
$13
$31
$46 $46
$92 $96
$122
$195
$0
$50
$100
$150
$200
2006 2007 2008 2009 2010 2011 2012 2013
Specialty Operating Income
Building &
Construction
13%
Industrial
12%
Transportation
18%
Wire & Cable
9%
Packaging
16%
Consumer
10%
HealthCare
11% Appliance
6%
Electronics &
Electrical
5%
Old
PolyOne Transformation
*Operating Income excludes corporate charges and special items
2%
34% 43%
62% 64%
0%
20%
40%
60%
80%
100%
2005 2008 2010 2013 Q1 2014 2015
%
o
f O
pe
ra
tin
g
In
co
m
e*
JV's Performance Products & Solutions Distribution Specialty
65-75%
Specialty OI $5M $46M $87M $195M $60M Target
Mix Shift Highlights Specialty Transformation
2015
Target
Page 6
Confirmation of Our Strategy
The World’s Premier Provider of Specialized
Polymer Materials, Services and Solutions
Specialization Globalization
Operational
Excellence
Commercial
Excellence
Page 7
-150.00%
-50.00%
50.00%
150.00%
250.00%
350.00%
450.00%
550.00%
PolyOne S&P 500
Strategy and Execution Drive Results
$0.12
$0.27
$0.21
$0.13
$0.68
$0.82
$1.00
$1.31
'06 '07 '08 '09 '10 '11 '12 '13
‘06-‘13 EPS CAGR = 41%
EPS Share Price vs.
S&P 500
All time high of
$39.55
May 13th, 2014
Page 8
2006 Q1 2014 2015
“Where we were” “Where we are” Target
1) Operating Income %
Specialty:
Global Color, Additives & Inks 1.7% 13.8% 12 – 16%
Global Specialty Engineered
Materials 1.1% 11.6% 12 – 16%
Designed Structures & Solutions -- 6.5% 8 – 10%
Performance Products &
Solutions 5.5% 7.7% 9 – 12%
Distribution 2.6% 6.1% 6 – 7.5%
2) Specialty Platform % of
Operating Income 6.0% 64% 65 – 75%
3) ROIC* 5.0% 9.4% 15%
4) Adjusted EPS Growth N/A 42% Double Digit Expansion
Proof of Performance & 2015 Goals
*ROIC is defined as TTM adjusted OI divided by the sum of average debt and equity over a 5 quarter period
Page 9
Bridge to $2.50 Adjusted EPS by 2015
2015 EPS: $2.50
2013 EPS: $1.31
Continued Gross Margin
Expansion
Mergers & Acquisitions
Spartech Accretion
Incremental share buybacks
Ongoing LSS Programs
(50-100 bps/yr)
Accelerated Innovation
& Mix Improvement Several Levers to
Drive Growth
Mid single digit revenue CAGR
Page 10
Innovation Drives Earnings Growth
*Percentage of Specialty Platform revenue from products introduced in last five years
Page 11
$20
$53
2006 2013
Research & Development
Spending
($ millions)
Specialty Platform
Vitality Index Progression*
14.3%
30.7%
2006 2013
Specialty Platform
Gross Margin %
19.5%
43.0%
2006 2013
Healthcare
Consumer
Packaging and Additive Technology
Transportation
Page 12
Unique and Innovative Solutions
https://www.dropbox.com/sh/dwe4t8aacvhb8ui/uD3p_bdglP/Presentation revise pics/GLS Beverage can closure XO 2.jpg
https://www.dropbox.com/sh/dwe4t8aacvhb8ui/-YgkycKypw/Anti-Counterfeiting release & images/GN1979.JPG
60%
100%
20%
30%
40%
50%
60%
70%
80%
90%
100%
2008 2014
Pension Funding**
As of March 31, 2014
Debt Maturities & Pension Funding – 3/31/14
Net Debt / EBITDA* = 1.9x
$48
$317
$600
$0
$100
$200
$300
$400
$500
$600
$700
$800
2015 2020 2023
Debt Maturities
As of March 31, 2014
($ millions)
Coupon Rates: 7.500% 7.375% 5.250%
** includes US-qualified pension plans only *TTM 3/31/2014
Page 13
Free Cash Flow and Strong Balance Sheet
Fund Investment / Shareholder Return
$0.16
$0.20
$0.24
$0.32
$0.10
$0.20
$0.30
$0.40
2011 2012 2013 2014
Annual Dividend
Expanding our sales, marketing, and
technical capabilities
Targets that expand our:
• Specialty offerings
• End market presence
• Geographic footprint
• Operating Margin
Synergy opportunities
Adjacent material solutions
Repurchased 1.4 million shares in Q1
2014
Repurchased 6.4 million shares
since April 2013
13.6 million shares are
available for repurchase
under the current
authorization
Organic
Growth
Acquisitions
Share
Repurchases
Dividends
Investing in operational and
LSS initiatives (including
synergy capture)
Manufacturing alignment
Page 14
The New PolyOne: A Specialty Growth Company
Why Invest In PolyOne?