https://www.avient.com/sites/default/files/2022-03/AVNT Mar 2022 Presentation.pdf
Avient reflects 2022 estimated revenue of $5,100M and estimated CAPEX of $90M (excludes IT system upgrade of $25M and synergy capture CAPEX of $20M)
Avient Specialty
Other
Free Cash Flow Conversion (1)
2022E (%)
Being asset light helps us to generate
strong free cash flow that is in line
with specialty formulators.
Free cash flow conversion calculated as (EBITDA – Capex) / EBITDA
HIGH FREE CASH FLOW
CONVERSION
Avient reflects 2021 estimated EBITDA of $635M and estimated CAPEX of $90M (excludes IT system upgrade of $25M and synergy capture CAPEX of $20M)
Source: Peer data per Bloomberg market data as of February 15, 2022
86 89
85
80
76 76
89
85
79 78 76 76 76
70 69
63
8
LB
Source: Peer data per Bloomberg market data as of February 15, 2022
Total Enterprise Value / 2022E EBITDAWith the Clariant Color business
acquisition and divestment of the
PP&S business, our exposure is
now concentrated in less-cyclical
and high-growth markets.
We expect
this expansion to continue as we
execute our strategy, increase
margins and consistently grow
earnings in excess of the market.
32
Avient reflects 2022 estimated EBITDA of $635M
Past Avient valuations reflect forward 12 months EBITDA at December 31 of the respective years.
https://www.avient.com/sites/default/files/resources/PolyOne%25202012%2520Annual%2520Report.pdf
These valuations reflect assumptions about financial markets and
interest rates.
This acquisition reflects our strategy to
expand our specialty business and our international presence.
ColorMatrix has been reflected in our 2012 Consolidated Statement of Income.
https://www.avient.com/sites/default/files/2021-12/AVNT 2021 Investor Day_0.pdf
Rather, it’s reflective of consistent,
strategic investments in our
portfolio…and people.
Free cash flow conversion calculated as (Adjusted EBITDA – Capex) / Adjusted EBITDA
Avient reflects 2021 Adjusted EBITDA of $580M and estimated CAPEX of $80M (excludes one-time synergy capture CAPEX of $20M)
High Free Cash Flow Conversion
Avient Specialty
Other Specialty /
Chemical Companies
Avient Corporation 131
16% 15%+
16% 16% 16%
14% 14% 14%
34%
26%
22% 21%
16% 15%
Avient reflects 2021 Adjusted EBITDA of $580M and guided revenue of $4,750M.
We expect this
expansion to continue as we execute
our strategy, increase margins and
consistently grow earnings in excess
of the market.
6.5
9.0
11.2
17.7
16.7
15.5 15.3
14.5
12.2
25.7 25.5
13.5
12.2
10.7
9.8
8.6 8.5
6.9
6.2
01
1)
01
6)
02
1)
Total Enterprise Value / 2021E EBITDA
Avient 2011 and 2016 valuations reflect trailing 12 months EBITDA at December 31 of the respective years.
https://www.avient.com/sites/default/files/2023-03/2023 Avient Bookmarked Proxy Statement - FINAL.pdf
For cash-settled
performance units granted in 2020, awards reflect actual performance.
In the case of involuntary termination following a change of control, all of these awards reflect their full value
5) Performance shares granted in 2014 reflect a prorated amount in cases of disability or death.
https://www.avient.com/sites/default/files/resources/POL%2520IR%2520Presentation%2520Wells%2520Fargo%252005%252008%25202014%2520w%2520non%2520GAAP.pdf
In certain cases throughout this presentation, we
have presented GAAP and non-GAAP financial measures adjusted to reflect full-
year 2012 Pro forma results, including Spartech and Glasforms and excluding
discontinued operations
Adjusted EPS 2006Y* 2007Y* 2008Y* 2009Y* 2010Y 2011Y 2012Y 2013Y
Net Income attributable to PolyOne common
shareholders $ 130.9 $ 40.9 $ (417.0) $ 106.7 $ 152.5 $ 153.4 $ 53.3 $ 94.0
SunBelt equity earnings, after tax (68.5) (26.1) (20.8) (19.0)
(14.7) (3.7) - -
Special items, after tax (21.2) 41.4 310.0 (31.0) 15.8 (30.5) 35.7 30.4
Tax adjustments (30.0) (30.7) 147.2 (44.9) (88.3) (42.3) 0.5 2.2
Adjusted net income $ 11.2 $ 25.5 $ 19.4 $ 11.8 $ 65.3 $ 76.9 $ 89.5 $ 126.6
Diluted shares 92.8 93.1 92.7 93.4 96.0 94.3 89.8 96.5
Adjusted EPS $ 0.12 $ 0.27 $ 0.21 $ 0.13 $ 0.68 $ 0.82 $ 1.00 $ 1.31
* Historical results are shown as presented in prior filings and have not been updated to reflect subsequent changes in accounting
principal or discontinued operations.
https://www.avient.com/sites/default/files/2022-03/Avient 2022 Proxy Statement.pdf
For cash-settled
performance units granted in 2019, awards reflect actual performance.
5) Performance shares granted in 2014 reflect a prorated amount in cases of disability or death.
In the case of involuntary termination following a change
of control, this award reflects its full value.
https://www.avient.com/sites/default/files/2025-03/2025 Proxy Statement.pdf
For
cash-settled performance units granted in 2022, awards reflect actual performance.
In the case of
involuntary termination following a change of control, all of these RSU awards reflect their full value.
SARs granted in 2024 and 2023 reflect a
prorated amount of the award in cases of retirement, disability or death.
https://www.avient.com/sites/default/files/2023-01/Mevopur Healthcare Functional Additives_Laser Welding Additives for Medical Devices Application Bulletin.pdf
AVIENT MAKES NO WARRANTIES, EXPRESS OR IMPLIED,
INCLUDING, BUT NOT LIMITED TO, IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE, either with respect to the information or products reflected by the information.
https://www.avient.com/sites/default/files/2020-09/stat-tech-for-adas-application-bulletin.pdf
AVIENT MAKES NO WARRANTIES, EXPRESS
OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE, either with respect to the information or products reflected by the
information.
https://www.avient.com/sites/default/files/2023-01/ECCOH XL Cross-Linkable Solutions _8001_ Product Bulletin.pdf
AVIENT MAKES NO WARRANTIES, EXPRESS
OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE, either with respect to the information or products reflected by the
information.