https://www.avient.com/resources/safety-data-sheets?page=6161
VERDE MENTA T915-7-1
R59 9003 WHITE
MKT WHITE ZYTEL
https://www.avient.com/sites/default/files/2023-01/AVNT Dec 2022 Earnings Presentation.pdf
Microsoft PowerPoint - AVNT Nov 2022 Earnings Presentation
AVIENT CORPORATION
I N V E S T O R P R E S E N T A T I O N
(NYSE: AVNT)
D E C E M B E R 2 0 2 2
AVIENT: WHO WE ARE
40
23
9
36
• U.S. and Canada
• Latin America
• Europe, Middle East & Africa
• Asia
25,000+
CUSTOMERS
Headquartered in Avon Lake, OH
(Cleveland)
9,300+ employees
100+ manufacturing plants
Key Financial Data
2022PF Sales $3.6 billion
2022PF EBITDA $585 million
2022PF EPS $2.95
100%
ARE CUSTOMIZED SOLUTIONS
TO UNIQUE SPECIFICATIONS
of
sales
2
Guidance as of November 2, 2022 Webcast
WHO WE ARE – VISION, STRATEGY, CULTURE
3
Avient Corporation (NYSE: AVNT) provides
specialized and sustainable material solutions that
transform customer challenges into opportunities,
bringing new products to life for a better world.
Purchase price multiple rapidly declining on strength of
business and synergy capture
12
$133
$201
2019PF 2022E
12
Clariant Color EBITDA Growth
Purchase Price Multiple
10.8x
7.0x
6.4x
2019PF 2021 2022E w/ Full
Synergies
11.9%
16.3%
2019PF 2022E
EBITDA Margins
CLARIANT COLOR:
TRANSFORMATIONAL ACQUISITION
(1) Financial information is pro forma to include a full year of Clariant Color business
SUNBELT PVC Resins DSS
20 Acquisitions
$4.8B Investment
$2.7B of Annual
Revenue
5 Divestments
$2.3B Proceeds
TPE
PP&S
HISTORIC SPECIALIZATION THROUGH M&A
13
Distribution
DSM Protective
BOLT-ON ACQUISITION HISTORY
14
Commercial
Resources
Operating Income
Operating Margins
259
363
$40
$139
Established Acquisitions
(> 7 years)
+ 40% + 248% + 1300 bps
I N V E S T T O G R O W
SPECIALTY TRANSFORMATION
T O D A Y
46%
67%
86%
0%
60%
80%
2005 2010 2019 2021 2022 PF
%
o
f A
d
ju
st
ed
E
B
IT
D
A
• Commodity JVs
• Distribution
• Performance Products & Solutions
• Specialty Businesses
(1) Adjusted EBITDA is EBITDA excluding corporate costs and special items
(2) Pro forma for the acquisition of Dyneema® and divestiture of Distribution
(1
)
(2)
15
Building &
43%
14%
Telecom.
2%
2006 2022 Pro Forma
21%
Building &
Telecom.
Sales EBITDA
Specialty Engineered Materials
Color Additives and Inks
$585M$3,635M
29
C O L O R , A D D I T I V E S & I N K S
2022 REVENUE | $2 .3 B ILL ION
US & Canada
Latin America
END MARKET REGION
30
33%
Building &
1% Energy
Figures represent 2022 full year estimates
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
50%
REGION
31 Figures represent 2022 full year estimates
19%
8%Industrial
16%
Building &
31%
28%
Building &
3%
2% Defense
(20% of sales)
2022 PROFORMA AVIENT REGIONAL SALES
BY END MARKET
29%
17%
Building &
(35% of sales)
14%
Building &
12%
US &
Canada
(40% of sales)
49%
Building &
LATAM
(5% of sales)
3%Telecommunications
Figures represent 2022 full year estimates32
https://www.avient.com/sites/default/files/2025-01/AVNT Dec 2022 Earnings Presentation Updated.pdf
Microsoft PowerPoint - AVNT Nov 2022 Earnings Presentation
AVIENT CORPORATION
I N V E S T O R P R E S E N T A T I O N
(NYSE: AVNT)
D E C E M B E R 2 0 2 2
AVIENT: WHO WE ARE
40
23
9
36
• U.S. and Canada
• Latin America
• Europe, Middle East & Africa
• Asia
25,000+
CUSTOMERS
Headquartered in Avon Lake, OH
(Cleveland)
9,300+ employees
100+ manufacturing plants
Key Financial Data
$3.6 billion2022PF Sales
$585 million2022PF EBITDA
$2.952022PF EPS
100%
ARE CUSTOMIZED SOLUTIONS
TO UNIQUE SPECIFICATIONS
of
sales
2
Guidance as of November 2, 2022 Webcast
WHO WE ARE – VISION, STRATEGY, CULTURE
3
Avient Corporation (NYSE: AVNT) provides
specialized and sustainable material solutions that
transform customer challenges into opportunities,
bringing new products to life for a better world.
Purchase price multiple rapidly declining on strength of
business and synergy capture
12
$133
$201
2019PF 2022E
12
Clariant Color EBITDA Growth
Purchase Price Multiple
10.8x
7.0x
6.4x
2019PF 2021 2022E w/ Full
Synergies
11.9%
16.3%
2019PF 2022E
EBITDA Margins
CLARIANT COLOR:
TRANSFORMATIONAL ACQUISITION
(1) Financial information is pro forma to include a full year of Clariant Color business
SUNBELT PVC Resins DSS
20 Acquisitions
$4.8B
Investment
$2.7B of Annual
Revenue
5 Divestments
$2.3B Proceeds
TPE
PP&S
HISTORIC SPECIALIZATION THROUGH M&A
13
Distribution
DSM Protective
BOLT-ON ACQUISITION HISTORY
14
Commercial
Resources
Operating Income
Operating Margins
259
363
$40
$139
Established Acquisitions
(> 7 years)
+ 40% + 248% + 1300 bps
I N V E S T T O G R O W
SPECIALTY TRANSFORMATION
T O D A Y
46%
67%
86%
0%
60%
80%
2005 2010 2019 2021 2022 PF
%
o
f A
d
ju
st
ed
E
B
IT
D
A
• Commodity JVs
• Distribution
• Performance Products & Solutions
• Specialty Businesses
(1) Adjusted EBITDA is EBITDA excluding corporate costs and special items
(2) Pro forma for the acquisition of Dyneema® and divestiture of Distribution
(1
)
(2)
15
Building &
43%
14%
Telecom.
2%
2006 2022 Pro Forma
21%
Building &
Telecom.
Sales EBITDA
Specialty Engineered Materials
Color Additives and Inks
$585M$3,635M
29
C O L O R , A D D I T I V E S & I N K S
2022 REVENUE | $2 .3 B ILL ION
US & Canada
Latin America
END MARKET REGION
30
33%
Building &
1% Energy
Figures represent 2022 full year estimates
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
50%
REGION
31 Figures represent 2022 full year estimates
19%
8%Industrial
16%
Building &
31%
28%
Building &
3%
2% Defense
(20% of sales)
2022 PROFORMA AVIENT REGIONAL SALES
BY END MARKET
29%
17%
Building &
(35% of sales)
14%
Building &
12%
US &
Canada
(40% of sales)
49%
Building &
LATAM
(5% of sales)
3%Telecommunications
Figures represent 2022 full year estimates32
https://www.avient.com/sites/default/files/2020-03/PolyOne_Website-12.19.pdf
T O D A Y ’ S P R E S E N T E R S
Robert M.
Richardson
Executive Vice President and
Chief Financial Officer
PolyOne Corporation 4
PolyOne Corporation 5
Landmark portfolio transformation: > 85% of Adjusted EBITDA
from specialty solutions
World-class innovation, technology and service are differentiators
Sustainability initiatives and alignment with megatrends drive
above market growth in key end markets and applications:
Capital management is a strength - proven track record of
expanding ROIC while increasing invested capital
Transaction expected to add $0.85 to pro forma adjusted EPS
T H E N E W P O L Y O N E : A S P E C I A L T Y G R O W T H C O M P A N Y
Integrity
V I S I O N
PolyOne Corporation 6
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 Respect
Operational
Commercial
Specialization
Globalization
Collaboration ExcellenceInnovation
To be the world’s
premier provider of
sustainable, specialty
polymer materials and
solutions.
S A F E T Y F I R S T
PolyOne Corporation 7
Injuries per 100 Workers
Spartech
Acquisition
1.3
1.1 1.1
0.85
0.65
0.57
0.54
0.97
0.84
0.74 0.74
0.69
0.51
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
G R E A T P L A C E T O W O R K
PolyOne Corporation 8
* Pro Forma for sale of DSS
Operating Income
% of Sales
2006 Q3 YTD
2019
Color, Additives &
Inks
1.7% 15.5%
Specialty Engineered
Materials
1.1% 11.8%
Distribution 2.6% 6.3%
2009 2010 2011 2012 2013 2014 2015 2016*2017* 2018
$2.43
P R O O F O F P E R F O R M A N C E
C O N S E C U T I V E
Y E A R S
PolyOne Corporation 9
10
$0.13
$0.68
$0.82
$1.00
$1.31
$1.80
$1.96
$2.06
$2.21
A D J U S T E D E P S E X P A N S I O N
2018 2019E
$1.65
$1.51
Pro Forma for sale
of PP&S
T R A N S F O R M A T I O N H E A D L I N E S
PolyOne Corporation 10
C O M M O D I T Y T O S P E C I A L T Y T R A N S F O R M A T I O N
PolyOne Corporation 11
• Volume driven,
commodity
production
• Heavily tied to cyclical
end markets
• Performance largely
dependent on non-
controlling joint
ventures
• Shift to value-based
selling & an innovative
culture
• New leadership team
appointed
• Implementation of
four pillar strategy
• Investment in
commercial training
and innovation
• Faster growing, high
margin focus
• Accelerated growth
with world class
vitality index
• Significant
commercial resource
additions
• Expanded margins
with specialty focus
• Acquired strategic,
bolt-on companies to
expand technology
offerings and improve
geographic breadth
Volume Value Transformation The Future
2006 - 2013 2013 – 20192000-2005 2006 - 2013
• Landmark portfolio
transformation
creates specialty
growth company
• Sustainability / mega-
trends drive above
market growth
2020 and
Beyond
F I T W I T H F O U R P I L L A R S T R A T E G Y
PolyOne Corporation 12
Specialization
• Innovation-led organization with
heavy emphasis on R&D
• World-class expertise in color
formulation
• Strong presence in specialty end
markets including Consumer,
Packaging and Healthcare
Globalization
• Diverse geographic portfolio with
an established presence in every
major region
• Expands PolyOne’s ability to serve
customers in key growth areas
including India, China and
Southeast Asia
Operational
• Extensive manufacturing footprint
with 46 facilities
• Organizational focus on optimizing
supply chain to better serve
customers
• Color design expertise
Commercial
• Value-focused salesforce with vast
experience marketing and
commercializing specialty
technologies
• Diverse customer portfolio with
established OEM’s
People
Experienced and
talented
associates with a
winning mentality
L E V E R A G I N G G L O B A L M E G A T R E N D S
13
Facilitate
alternative
energy
solutions
Light-
weighting
Reduce
packaging
materials
Improve
recyclability
Reduce
spread of
infection
T R A N S P O R T A T I O N P A C K A G I N G H E A L T H C A R EC O N S U M E R
PolyOne Corporation
E N D M A R K E T T R A N S F O R M A T I O N
PolyOne Corporation 14
Building & Construction
18%
8%
50%
22%
High Growth End Markets
Percentage of Total Revenue
38%
E N D M A R K E T T R A N S F O R M A T I O N
PolyOne Corporation 15
8%
Building &
Construction
38%
Wire &
Cable
11%
Industrial
Electrical &
Electronic
7%
Transportation
18%
Building &
Construction
Wire &
Cable
Industrial
Electrical &
Electronic
Appliance
3%
Textiles
Transportation
13%
C O M P L E M E N T A R Y G E O G R A P H I C P R E S E N C E
PolyOne Corporation 16
38% Europe
33%
Asia
19%
22%
Europe
Asia & Middle East
31%
1%
Color & Engineered
Materials
Clariant Color & Additive
Masterbatch Business
Net Sales by Geographic Region
31%
Europe
36%
Asia & Middle East
24%
3%
Pro Forma Color &
Engineered Materials
531
710
1,042
130
164
208
504
663
880
2014 2018 2019E PF*
R&D / Technical Marketing Sales
PolyOne Corporation 17
+ 34%
+ 26%
+ 32%
E X P A N S I O N O F COMMERCIAL RESOURCES D R I V I N G G R O W T H
$2.9 $2.9
$3.5
2015 2016 2017 2018 2019E
PF
Total
+ 9%
Organic
+ 5%
Revenue in Billions
Total
+ 10%
Organic
+ 7%+ 47%
+ 27%
+ 33%
$4.0
$3.2
2019E PF*
P R I O R A C Q U I S I T I O N S : P R O O F O F P E R F O R M A N C E
PolyOne Corporation 18
Commercial
Resources
Operating
Income
($ in millions)
Operating
Margins
243
340
$36
$96
11%
Established Acquisitions
(> 7 years)
+ 40% + 165% + 900 bps
U N I F I E D F O C U S O N S U S T A I N A B I L I T Y
PolyOne Corporation 19
2006 - 2013
2013 – 2019
PEOPLE
PRODUCTS PLANET
PERFORMANCE
Clariant Color & Additive
Masterbatch Business
• Building mini-recycling plants to
facilitate customer projects on
design for recycling - CycleWorks
• Uses packaging additives &
colorants to improve recyclability
and enhance automated sorting
• Manufactures oxygen scavengers
to extend shelf-life of perishable
items and reduce material
requirements
• Combines UV-blocking additive
colorants & other barriers to
prevent spoilage and waste
• Offers spin-dyeing solutions that
use significantly less water than
traditional methods, allowing for
sustainable coloration of textiles
• Produces infrared absorbing
additives that reduce energy
requirements for bottle
manufacturing
($ in millions)
(Continuing
Operations)
Clariant Color &
Additive Masterbatch
Business
Synergies
New
2019E Total Sales $2,860 $1,150 $4,010
2019E Adjusted EBITDA $310 $130 $60 $500
% Margin 10.8% 11.3% 12.5%
2019E CapEx $60 $85
% Sales 2.1% 2.1%
2019E Free Cash Flow $170 $250
2019E Adjusted EPS $1.65 $2.22
2019E PF Adjusted EPS $1.65 $2.50
P O L Y O N E + C L A R I A N T C O L O R & A D D I T I V E
M A S T E R B A T C H B U S I N E S S
PolyOne Corporation 20
(1) Excludes step-up of depreciation & amortization related to purchase accounting of transaction
(1)
$0.85/share
O V E R 8 5 % O F A D J U S T E D E B I T D A F R O M S P E C I A L T Y
PolyOne Corporation 21
46%
66%
0%
60%
80%
100%
2005 2010 2015 2019E PF
%
o
f
A
d
ju
s
te
d
E
B
IT
D
A
*
JV's Performance Products & Solutions Distribution Specialty
7%
87%
* Adjusted EBITDA is EBITDA excluding corporate costs and special items
** 2019E Pro Forma for PP&S Divestiture and Clariant Color & Additive Masterbatch business acquisition with synergies
Specialty EBITDA $14M $117M $273M $500M
**
PolyOne Corporation 22
T R A N S A C T I O N O V E R V I E W
• Expected mid-2020, subject to regulatory approvals and customary closing conditions
Closing
Conditions /
Timing
• Committed financing in place
• Permanent financing to be combination of available cash on-hand, new debt and equity component to limit leverage
• Equity issuance of $400 to $500MM
• Target net leverage below 3.5x, 3.1x synergized, with intention to de-lever below 3.0x within 2 years
PolyOne Corporation 23
• $1.45 B net purchase price
• Represents 11.1x adjusted EBITDA (excluding synergies), 7.6x adjusted EBITDA (including synergies)
• Pre-tax synergies of $60MM expected to be fully realized by the end of 2023
• Synergies realized from sourcing, operational, technology / commercial, and general administrative
Transaction
Value
Synergies
Estimated Synergy Breakdown
$60MM
• Expect EBITDA synergies of $60MM
– Proven integration expertise with a decade of acquisition experience
– Administrative synergies reflect reduction of duplicative internal and
third-party costs
• Run rate synergies of $20MM by the end of Year 1 with $60MM
achieved by the end of Year 3
• Significant additional opportunity for geographical expansion
– Clariant Color & Additive Masterbatch business has complementary
regional presence in key growth areas including India & Southeast
Asia
• Opportunity to accelerate growth with a combined portfolio of
innovative solutions aligned with sustainability megatrends
Sourcing
Operational
30%
Administrative
30%
PolyOne Corporation 24
S I G N I F I C A N T S Y N E R G Y O P P O R T U N I T I E S
C A P I T A L S T R U C T U R E / L E V E R A G E
PolyOne Corporation 25
At Close Year 1 Year 2
3.2x
3.5x
3.1x
2.6x
Pro Forma with Synergies
2019E PF
Two year leverage goal
(1) Pro Forma Capitalization is for illustrative purposes only; amounts may vary depending on various market and other factors.
https://www.avient.com/sites/default/files/2021-04/onflex-s-garden-hose-hand-grip-case-study.pdf
TPE HEIGHTENS
PRODUCT IMPACT
AND PROFITABILITY
CASE STUDY: ONFLEX-S™ THERMOPLASTIC ELASTOMERS
Challe
nge Accepted.
OnFlex-S TPEs also provide an attractive
appearance and resist scratching and marring.
With OnFlex-S TPE, the
company achieved system cost benefits that have made this
product line a profitable one.
https://www.avient.com/sites/default/files/2022-05/OnFlex S HF Electrical Housing Case StudyNEW.pdf
ECO-CONSCIOUS SOLUTION
REMOVES HALOGENS
FROM ELECTRICAL
JUNCTION BOXES
CASE STUDY: ONFLEX™ S HF THERMOPLASTIC ELASTOMERS
Challe
nge Accepted.
Finally, the OnFlex-S HF grade
was developed to bond sufficiently and be chemically
compatible with polypropylene.
High-flow properties of OnFlex S HF TPE allow the gaskets
to be overmolded in multi-cavity tools (up to 12 cavities
per tool).
https://www.avient.com/sites/default/files/resources/Investor%2520Presentation%2520Mar19.pdf
Investor Day
POLYONE
I N V E S T O R
P R E S E N T A T I O N
M A R C H 2 0 1 9
FORWARD LOOKING STATEMENTS
PolyOne Corporation 2
USE OF
NON-GAAP
MEASURES
PolyOne Corporation 3
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
Operational
Excellence
Commercial
Excellence
Specialization
Globalization
Collaboration ExcellenceInnovation
To be the world’s
premier provider of
specialized polymer
materials, services
and solutions
S A F E T Y F I R S T
PolyOne Corporation 5
Injuries per 100 Workers
Spartech
Acquisition
1.3
1.1 1.1
0.85
0.65
0.57
0.54
0.97
0.84
0.74 0.74
0.69
0.51
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
PolyOne Corporation 6
P O L Y O N E
2 0 1 8 R E V E N U E | $ 3 . 5 B I L L I O N
United States
57%
16%
Latin
America
Canada
Distribution
Performance Products &
Solutions 19%
Specialty
Engineered
Color
Additives &
Inks 29%
Segment End Market Geography
Building &
Construction
Electrical &
Electronics
13%
2009 2010 2011 2012 2013 2014 2015 2016* 2017* 2018
$2.43
P R O O F O F P E R F O R M A N C E
C O N S E C U T I V E
Y E A R S
PolyOne Corporation 7
9
$0.13
$0.68
$0.82
$1.00
$1.31
$1.80
$1.96
$2.06
$2.21
ROIC** 5.0% 14.1%
Operating Income
% of Sales
Color, Additives &
Inks
1.7% 15.1%
Specialty Engineered
Materials
1.1% 11.2%
Performance
Products
& Solutions
4.3% 10.0%
Distribution 2.6% 5.6%
A D J U S T E D E P S E X P A N S I O N
S U S T A I N A B L E P A T H T O D O U B L E - D I G I T E P S G R O W T H
PolyOne Corporation 8
P E O P L E P R O D U C T S P L A N E T P E R F O R M A N C E
Double digit
annual EPS
growth
strategic acquisitions
Innovate
600K-1M
commercial
resources 5-7%
Double acquired
Lean Six Sigma
commercial excellence
531
710
130
164
504
663
R&D / Technical Marketing Sales
PolyOne Corporation 9
Increased commercial headcount
+ 34%
+ 26%
+ 32%
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
Sustained revenue increases led
by organic business
$2.9 $2.9
$3.2
$3.5
2015 2016 2017 2018
Total
+ 9%
Organic
+ 5%
Revenue in billions of $
Total
+ 10%
Organic
+ 7%
Lead
Specialists
T H E E V O L V I N G C U S T O M E R R E L A T I O N S H I P
PolyOne Corporation 10
Expanded Path
Traditional Path
Strategic Accounts/
Field Sales
Business
Development
Customer
Service
Web and Social
Media
Inside Sales
PolyOne Corporation 11
Investments in digital and dedicated inside sales to
improve customer experience
110% increase in leads (from 6,000 to 12,700) driven
by website, phone, and online chat
EXPANDED PATH
A DDI N G C U S T O M E R T O U C H P O I N T S
24
Inside sellers
$11M
$109M
Inside sales/digital revenue
A L I G N I N G W I T H T R E N D S F O R G R O W T H
T R A N S P O R T A T I O N P A C K A G I N G H E A L T H C A R E C O N S U M E R
PolyOne Corporation 12
Facilitate
alternative
energy
solutions
Light-
weighting
Reduce
packaging
materials
Improve
recyclability
Reduce
spread of
infection
I N N O V A T I O N
PolyOne Corporation 13
Customization
55%
M&A
30%
Innovation
Pipeline
Innovation comes from Research & Development Spend
Vitality Index
$20
$56
Transformational
Adjacent
Core
3 H O R I Z O N S O F D E V E L O P M E N T
PolyOne Corporation 14
Market
Technical
I N N O V A T I O N
I N N O V A T I O N P I P E L I N E
PolyOne Corporation 15
PrototypeFrame
Opportunity
Scale-up & Test
Market
Build
Business Case
Commercial
Launch
(since 2017)
Phase 1 Phase 2 Phase 3 Phase 4 Phase 5
6
11
3
2
28 0
10
7
2
Breakthrough
Platform
Derivative
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
I N N O V A T I O N S P O T L I G H T :
C O M P O S I T E S
PolyOne Corporation 16
C O M P O S I T E S R E F R E S H E R
PolyOne Corporation 17
Fiber
Polymer
Composite
S T R A T E G I C I N V E S T M E N T H I S T O R Y
Thermoplastic Composites
Long Fiber Reinforced Thermoplastics
Continuous Fiber Thermosets
Long Fiber Reinforced Thermoplastics
Continuous Fiber Thermosets
2012 2015 20162009 2011 2018
PolyOne Corporation
2019
18
C O M P O S I T E S I N T R A N S P O R T A T I O N
PolyOne Corporation 19
W A T E R C R A F TR A I L H E A V Y T R U C K
F I B E R - L I N E H I G H L I G H T S
PolyOne Corporation 20
$100M
Customer
Value
Fiber-Line
Fiber Processing
Capabilities
Polymer Formulation
Capabilities
P O L Y O N E A P P L I C A T I O N S I N F I B E R O P T I C C A B L E S
PolyOne Corporation 21
F I B E R O P T I C A L G R O W T H D R I V E R S
PolyOne Corporation 22
5G Networks
10x
8x
5G vs. 4G
PolyOne Corporation 23
Safety Technology Geography Service FinancialPeople
8-10% with
ability to double
I N V E S T - T O - G R O W M & A S T R A T E G Y
PolyOne Corporation 24
Capture
sourcing
synergies
Cross-sell
& blend
technology
8-10%
operating
I N V E S T - T O - G R O W M & A P L A Y B O O K
Protect
customers
Retain
employees
Implement LSS to
drive efficiency
improvements
Innovate with
combined
portfolio
Safety
First!
Leverage
PolyOne’s
global reach
Phase 1
Phase 2
Phase 3
18-20%
operating
Invest in
commercial
resources
I N V E S T - T O - G R O W P R O O F O F P E R F O R M A N C E
PolyOne Corporation 25
Commercial
Resources
Operating
Income
($ in millions)
Operating
Margins
243
340
$36
$96
20%
Established Acquisitions
(> 7 years)
+ 40% + 165% + 900 bps
I N V E S T - T O - G R O W D R I V I N G T H E F U T U R E
PolyOne Corporation 26
Commercial
Resources
Operating
Income
($ in millions)
Operating
Margins
138
181
251
$23 $25
$70
7% 8%
18-20%
Recent Acquisitions
PolyOne Corporation 27
Average
Company Size
# of
Possibilities
Rationale
$200M
S T R O N G P I P E L I N E
D R I V E N B Y F R A G M E N T E D M A R K E T
$0
$150
$300
$450
$600
$750
$900
2011 2012 2013 2014 2015 2016 2017 2018
$890M
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 $ 1 . 2 B I L L I O N S I N C E 2 0 1 1
PolyOne Corporation
$0.16
$0.20
$0.24
$0.32
$0.40
$0.48
$0.54
$0.70
$0.78
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
3-Year Dividend Plan
Cumulative Share Repurchases Increasing Annual Dividend
28
6.3%
14.1%
16-17%
2009 2018 Updated Expectations
R O I C D R I V E S S H A R E H O L D E R R E T U R N
PolyOne Corporation 29
PolyOne Corporation 30
W H Y I N V E S T I N P O L Y O N E ?
T H E N E W P O L Y O N E : A S P E C I A L T Y G R O W T H C O M P A N Y
SERVICE:
T H E T I M E L E S S
D I F F E R E N T I A T O R
PolyOne Corporation 31
T A L E N T D E V E L O P M E N T
PolyOne Corporation 32
Leadership Program Participants
2012
2013
2015
47
86
2016
2018
125
169
315
Campus Hires
2008
2011
2017
25
90
47
PolyOne LSS Blackbelts
2008
2011
2018
67
220
147
2018 141
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 33
Material
& Color
Expertise
Manufacturing
Expertise
3
14
Industrial designers
$0
$10M
$4M
$80M
Opportunity funnel New business revenue
LSS CUSTOMER FIRST
PolyOne Corporation 34
Customer Projects
2 104
3 D P R I N T I N G
B R I N G I N G N E W I D E A S T O L I F E
PolyOne Corporation 35
PolyOne Corporation 36
99.9%
up to 24 weeks
6 hours
C O L O R M A T R I X S E L E C T ™
I N N O V A T I N G W I T H P O L Y O N E
PolyOne Corporation 37
SEGMENT HIGHLIGHTS
C O L O R , A D D I T I V E S & I N K S
PolyOne Corporation 38
Solid
Colorants
Performance
Additives
Screen
Printing Inks
Liquid
Colorants
14%
Textiles
13%
Building & Construction
8%
8%
Appliances
Electrical &
Electronic 1%
Operating Income & MarginRevenue by Region
C O L O R , A D D I T I V E S & I N K S
2 0 1 8 R E V E N U E | O V ER $ 1 B I L L I O N
$4
$25
$104
$159
0.9%
5.5%
12.2%
15.1%
PolyOne Corporation 39
45%
14%
1%
Mexico
South
America
S P E C I A L T Y E N G I N E E R E D M A T E R I A L S
PolyOne Corporation 40
Engineered
Formulations
Advanced
Composites
Thermoplastic
Elastomers
21%
13%Healthcare
9%
9%
Building &
Construction 4%
Electrical &
Electronics
16%
S P E C I A L T Y E N G I N E E R E D M A T E R I A L S
Revenue by Region Operating Income & Margin
2 0 1 8 R EV EN U E | $ 6 4 6 M I L L I O N
PolyOne Corporation 41
$21
$57
$72
0.1%
5.1%
9.3%
11.2%
46%
24%
P E R F O R M A N C E P R O D U C T S & S O L U T I O N S
PolyOne Corporation 42
Specialty Vinyl
Solutions
Healthcare
Formulations
Smart Device
Flame Retardant
Polymers
Building &
16%Consumer
4%
Electrical &
4%
Asia
78%
Mexico
P E R F O R M A N C E P R O D U C T S & S O L U T I O N S
Operating Income & MarginRevenue by Region
2 0 1 8 R EV EN U E | $ 7 3 6 M I L L I O N
$40
$24
$56
$74
4.6%
3.6%
7.2%
10.0%
PolyOne Corporation 43
D I S T R I B U T I O N
EN D M A R K ET S & S U P P L I ER S
PolyOne Corporation 44
27%
22%
Electrical &
Building &
$20
$25
$63
$71
2.9%
4.0%
5.9%
5.6%
Operating Income & Margin2018 Revenue | $1.3 Billion
http://www.polyone.com/Pages/VariationRoot.aspx
O V E R V I E W O F R A W M A T E R I A L P U R C H A S E S
PolyOne Corporation 45
T A R G E T E N D M A R K E T S &
A P P L I C A T I O N E X A M P L E S
PolyOne Corporation 46
Thermally Conductive
Chemical Resistant
Polymer Colorants
Elastomeric Grips and
Handles
Structural Composites
Antimicrobial Technologies
Anti-Counterfeiting
Target End Markets… Healthcare
Catheter Technologies
Under-hood Components
Target End Markets… Automotive
Interior Structural
Sound & Vibration
Management
Roof Systems
Air Management
Electronics and Cameras
Lighting
Exterior / Interior Trim
Braces & Brackets
Fasteners
Seals & Flaps
Target End Markets… Consumer
Thermally Conductive
Polymer Colorants
Elastomeric Grips and
Handles
Structural Composite
Oxygen Scavenger
Laser Marking Additives
Antistatic Technologies
UV Light Barrier Technologies
Cap & Closure Colorants
Process Optimization
Antioxidant Technologies
Density Modified
Target End Markets… Packaging
Luxury Packaging
GravitechTM Density Modified Polymers
Optimize Color Usage
OnColorTM Super Concentrates
Combat Bacteria Formation
WithStandTM Antimicrobial Technology
Medical Device Housings
Chemically Resistant Engineered Polymers
Color & Design Services
Outdoor Applications
Fiber Colorants
Reconciliation of Non-GAAP Financial Measures (Unaudited)
(Dollars in millions, except per share data)
Senior management uses comparisons of adjusted net income from continuing operations attributable to PolyOne shareholders and diluted adjusted earnings per share (EPS)
from continuing operations attributable to PolyOne shareholders, excluding special items, to assess performance and facilitate comparability of results.
https://www.avient.com/sites/default/files/2020-03/Global_High_Yield_%26_Leverage_Conference %281%29.pdf
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
Operational
Commercial
Specialization
Globalization
Collaboration ExcellenceInnovation
To be the world’s
premier provider of
specialized polymer
materials, services
and solutions
S A F E T Y F I R S T
PolyOne Corporation 5
Injuries per 100 Workers
Spartech
Acquisition
1.3
1.1 1.1
0.85
0.65
0.57
0.54
0.97
0.84
0.74 0.74
0.69
0.51
0.56
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
C O M M O D I T Y T O S P E C I A L T Y T R A N S F O R M A T I O N
PolyOne Corporation 6
• Volume driven,
commodity
production
• Heavily tied to cyclical
end markets
• Performance largely
dependent on non-
controlling joint
ventures
• Shift to value-based
selling & an innovative
culture
• New leadership team
appointed
• Implementation of
four pillar strategy
• Investment in
commercial training
and innovation
• Faster growing, high
margin focus
• Accelerated growth
with world class
vitality index
• Significant
commercial resource
additions
• Expanded margins
with specialty focus
• Acquired strategic,
bolt-on companies to
expand technology
offerings and improve
geographic breadth
Volume Value Transformation The Future
2006 - 2013 2013 – 20192000-2005 2006 - 2013
• Landmark portfolio
transformation
creates specialty
growth company
• Sustainability / mega-
trends drive above
market growth
2020 and
Beyond
PolyOne Corporation 7
P O L Y O N E
2 0 1 9 R E V E N U E | $ 2 . 9 B I L L I O N
Segment End Market Geography
15% Healthcare
Wire & Cable
Building &
Electrical &
Electronics
Color
Additives
& Inks
34%
Distribution
41%
Specialty
Engineered
25%
54%
Latin
America
P R O O F O F P E RFO RMAN CE
C O N S E C U T I V E
Y E A R S
10
A D J U S T E D E P S E X P A N S I O N
PolyOne Corporation 8
$1.69
$1.51
S U S T A I N A B L E P A T H T O D O U B L E - D I G I T E P S G R O W T H
PolyOne Corporation 9
P E O P L E P R O D U C T S P L A N E T P E R F O R M A N C E
Double digit
annual EPS
growth
Expand specialty portfolio
with strategic acquisitions
Innovate and develop new
technologies and services
Repurchase 600K-1M
shares annually
Increase commercial
resources 5-7% annually
Double acquired
company margins
Enhance efficiencies
through Lean Six Sigma
and commercial excellence
531
710
1,042
130
164
208
504
663
880
2014 2018 2019E PF*
R&D / Technical Marketing Sales
PolyOne Corporation 10
+ 34%
+ 26%
+ 32%
E X P A N S I O N O F COMMERCIAL RESOURCES D R I V I N G G R O W T H
$2.9 $2.9
$3.5
2015 2016 2017 2018 2019E
PF
Total
+ 9%
Organic
+ 5%
Revenue in Billions
Total
+ 10%
Organic
+ 7%+ 47%
+ 27%
+ 33%
$4.0
$3.2
2019E PF*
Lead
Specialists
T H E E V O L V I N G C U S T O M E R R E L A T I O N S H I P
PolyOne Corporation 11
Expanded Path
Traditional Path
Strategic Accounts/
Field Sales
Business
Development
Customer
Service
Web and Social
Media
Inside Sales
PolyOne Corporation 12
Investments in digital and dedicated inside sales to
improve customer experience
110% increase in leads (from 6,000 to 12,700) driven
by website, phone, and online chat
EXPANDED PATH
A D D I N G C U S T O M E R T O U C H P O I N T S
4
33
Inside sellers
$11M
$87M
Inside sales/digital revenue
A L I G N I N G W I T H T R E N D S F O R G R O W T H
T R A N S P O R T A T I O N P A C K A G I N G H E A L T H C A R E C O N S U M E R
PolyOne Corporation 13
Facilitate
alternative
energy
solutions
Light-
weighting
Reduce
packaging
materials
Improve
recyclability
Reduce
spread of
infection
R E V E N U E F R O M S U S T A I N A B L E S O L U T I O N S
PolyOne Corporation 14
2016 2017 2018 2019
Lightweighting Reduced Material Requirements Improved Recyclability
Renewable Energy Applications Eco-conscious Bio-derived Content
Reduced Energy Use VOC Reduction
$275M
$325M
$355M
$410M 14% Total Annual Growth
9% Organic Annual Growth
I N N O V A T I O N
PolyOne Corporation 15
Customization
55%
M&A
Innovation
Pipeline
Innovation comes from Research & Development Spend
($ millions)
Vitality Index
% of sales from products launched last 5 years
37%
2006 2019
$20
$51
2006 2019
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 16
Incremental
development
from existing
base of
technology
New development
adjacent to current
New technology
development
outside of and with
our current base
Service adjacent
markets and
Create new
markets, target
new customer
needs
Service existing
markets and
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
PlastiComp
Fiber-Line
I N N O V A T I O N S P O T L I G H T :
C O M P O S I T E S
PolyOne Corporation 17
C O M P O S I T E M A T E R I A L S
Glass
Carbon Aramid
Thermosets
Thermoplastics
PolymersFibers
PolyOne Corporation 18
Focused End Markets
• Wire & Cable / Electrical
• Consumer
• Transportation
• Industrial
C O M P O S I T E S P O R T F O L I O
D I V E R S E C A P A B I L I T I E S A N D S O L U T I O N S S E R V I N G
M A N U F A C T U R E R S A N D O E M S
PolyOne Corporation 19
LFT Tapes Laminates/Panels Shapes Pultrusion Engineered Fibers
P O L Y O N E A P P L I C A T I O N S I N F I B E R O P T I C C A B L E S
PolyOne Corporation 20
1.
Filler Yarns/Core Fillers (not visible)
• PET, Polyester, Kevlar yarns coated with Swellcoat
(absorbs and blocks water)
7.
Binder
• PET, Polyester, Kevlar yarns coated with Swellcoat
(absorbs and blocks water)
2 3 4
5
7
6
8
9.
https://www.avient.com/sites/default/files/resources/September%2520Investor%2520Presentation.pdf
Filler Yarns/Core Fillers (not visible)
• PET, Polyester, Kevlar yarns coated with Swellcoat
(absorbs and blocks water)
7.
Binder
• PET, Polyester, Kevlar yarns coated with Swellcoat
(absorbs and blocks water)
2 3 4
7
6
8
9.
Leverage
PolyOne’s
global reach
Phase 1 Phase 2
Phase 3
18-20%
operating
margins
Invest in
commercial
resources
I N V E S T - T O - G R O W P R O O F O F P E R F O R M A N C E
PolyOne Corporation 25
Commercial
Resources
Operating
Income
($ in millions)
Operating
Margins
243
340
$36
$96
20%
Established Acquisitions
(> 7 years)
+ 40% + 165% + 900 bps
I N V E S T - T O - G R O W D R I V I N G T H E F U T U R E
PolyOne Corporation 26
Commercial
Resources
Operating
Income
($ in millions)
Operating
Margins
138
181
251
$23 $25
$70
7% 8%
18-20%
Recent Acquisitions
PolyOne Corporation 27
Average
Company Size
# of
Possibilities
Rationale
250
• Local to regional footprint
• Niche technology focus
• Concentrated customer base
$50M–$200M 150
• Regional to global footprint
• 1–3 specialty technologies
• Diversified customer base
>$200M 30
• Global footprint with local service
• Diverse specialty technologies
• Highly diversified customer &
market portfolio
S T R O N G P I P E L I N E
D R I V E N B Y F R A G M E N T E D M A R K E T
$0
$150
$300
$450
$600
$750
$900
2011 2012 2013 2014 2015 2016 2017 2018
$890M
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 $ 1 . 2 B I L L I O N S I N C E 2 0 1 1
PolyOne Corporation
$0.16
$0.20
$0.24
$0.32
$0.40
$0.48
$0.54
$0.70
$0.78
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
3-Year Dividend Plan
Cumulative Share Repurchases
(In millions)
Increasing Annual Dividend
28
6.3%
14.1%
16-17%
2009 2018 Updated Expectations
R O I C D R I V E S S H A R E H O L D E R R E T U R N
PolyOne Corporation 29
PolyOne Corporation 30
W H Y I N V E S T I N P O L Y O N E ?
https://www.avient.com/sites/default/files/2022-08/AVNT Aug 2022 Presentation - Jefferies.pdf
AVIENT CORPORATION
I N V E S T O R P R E S E N T A T I O N
(NYSE: AVNT)
AU G U S T 2 0 2 2
DISCLAIMER
Forward-Looking Statements
Certain statements contained in or incorporated by reference into this presentation constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995.
WHAT WE DO: MATERIAL SCIENCE
5
CUSTOM
FORMULATION
SUSTAINABILITY FOR A BETTER TOMORROW
Revenue From Sustainable Solutions* 2016-2021
$310
205
140
80
75
45
40
20
$915M2021 Sales
*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
Future Growth Revenue Assumptions From Sustainable Solutions: 8 - 12%
6
S E CO N D Q UART E R 2022
RE S U LT S
$122
$134
$0.87
$0.98
Q2 2022 PERFORMANCE
(TOTAL COMPANY)
8
Sales Adjusted Operating Income
$1,235
$1,302
+ 5%
Adjusted EPS
+ 10% + 13%
(in millions) (in millions)
(+ 10% excluding FX) (+ 16% excluding FX) (+ 20% excluding FX)
Q2 2022 SEGMENT PERFORMANCE
9
CAI
$624
$649
SEM Distribution
$86
$94
+ 4% + 9%
$404
$443
$24
$27
+ 10% + 13%
$241 $244
$37 $37
+ 1% Flat
(+ 10% excluding FX) (+ 16% excluding FX) (+ 6% excluding FX) (+ 3% excluding FX)
Q2 2021 $1,235 $122
Sustainable Solutions 17 7% 7
Healthcare 23 14% 5
Composites (ex Outdoor High Performance) 10 20% 4
Growth in Asia / LATAM 5 3% 1
Other 69 11% 5
Sub-total $1,359 10% $144
Outdoor High Performance Impact (9) (5)
Wage Inflation and Overtime (7)
Other Supply Chain Costs (2)
Clariant Color Integration Synergies 7
Incentives, Other Employee Costs 4
FX (48) (7)
Q2 2022 $1,302 5% $134
Q2 2022 SALES AND OPERATING INCOME
(TOTAL COMPANY)
10
Sales Growth Rate
Operating
Income$ millions
EBITDA
Q2 EBITDA BRIDGE
11
Price increases more than
offsets raw material and
supply chain impacts
Q2 2021 $ 159
Demand (29)
$ millions
CAI:
Price / Mix 87
Inflation (58)
SEM:
Price / Mix 36
Inflation (24)
Distribution:
Price / Mix 45
Inflation (41)
Net Price Benefit 45
Wage Inflation and Overtime (7)
Other Supply Chain Costs (2)
Clariant Color Integration Synergies 7
Incentives, Other Employee Costs 4
FX (7)
Q2 2022 $ 170
China Lockdowns / Russia Impact $ (14)
Outdoor High Performance (5)
Transportation (5)
12
Q2 '21 Adjusted EPS 0.87$
Color, Additives and Inks 0.11
Specialty Engineered Materials 0.01
Distribution 0.03
Corporate Costs 0.01
F/X (0.05)
Segment OI 0.11$
Interest Expense 0.03
Tax Rate (0.03)
Q2 '22 Adjusted EPS 0.98$
Q2 EPS BRIDGE
Key Updates
• Provided progress on 2030 Sustainability Goals
• Emphasized commitment to U.N.
Annual Purchases
RAW MATERIAL AND SUPPLY CHAIN UPDATE
Based on 2021 purchases, excludes Distribution business
DYN E E MA ACQ U I S I T I O N
32
15x stronger than steel
Reduces weight by 30% vs. other solutions
Well-maintained global asset base poised to serve growing demand
• Purchase price of $1.48B represents 11.4x multiple of
2022 EBITDA
• Acquisition will expand Avient’s composites and fiber
portfolio with Dyneema®, the World’s Strongest Fiber™
• $415M sales and 30%+ EBITDA margins; Immediately
accretive to pro forma 2022 EPS, adding $0.35
• 1,300 patents globally, ~50% of sales patent protected
• 1,000+ employees across global production network and
dedicated technology centers
• Composites platform will increase from $261M to $680M in
revenue and from $49M to $180M in EBITDA Indicates Dyneema® location
$175M
(42%)
$65M
(16%)
$175M
(42%)
2022E Sales By Region ($M)
(1) $0.35 EPS excludes intangible amortization
(2) Based on 2022 expected results
(1) (2)
(2)
FIT WITH FOUR PILLAR STRATEGY
33
Specialization
• Innovation-led organization with
tremendous intellectual property value in
trademarks, patents and “know-how”
• Deep history of application development
and premium, leading brand with the
World’s Strongest FiberTM
Globalization
• Global customer base with an
established presence across all major
geographic regions
• Global technology centers complement
existing Composites applications and
expertise
Operational
Excellence
• Best-in-class safety performance
• Well-run and maintained asset base fit to
serve future growth
• Highly effective and reliable supply chain
with emphasis on optimizing service to
customers
Commercial
Excellence
• Deep customer relationships extend
across the value chain and drive ability
to grow
• Offer a full suite of services with an active
role in design, development and
commercialization
People
Experienced and
talented associates
with a passion for
safety, specialization
and winning
DYNEEMA® OVERVIEW
K E Y I N D U S T R I E S
PERSONAL PROTECTION
Military • Law Enforcement • First
Responders Body Armor • Helmets •
Vehicle Protection
$215M
MARINE & SUSTAINABLE
INFRASTRUCTURE
Towing / Mooring • Aquaculture •
Floating Wind • Offshore Cranes
$130M
CONSUMER
Consumer • Outdoor High Performance •
Safety Equipment
$70M
34 Figures reflect 2022 expected sales
MIFOverview Competition Valuechain &
Go-to-market Strategy Innovation Financials
TECHNOLOGY
35
1,200 1,300
2,500
Avient Dyneema Combined
Patents
• True specialty business – the World’s Strongest Fiber™
• Deep history of application development with customers,
strongest in the industry
• The only UHMwPE (ultra-high molecular weight polyethylene)
fiber producer that is backward integrated
o Provides innovation advantage through control of all steps of the process
• Complementary with our existing reinforced film expertise
(PolyStrand) and engineered fiber presences (Fiber-Line)
WINNING PROPERTIES
Ultra high strength vs. weight Highly flexible
Floats on water Chemically inert; no smell/taste and non-toxic
High resistance to UV radiation Self-lubricating, with low friction
One-of-a-kind technology
®
FORMULATION PROCESS
36
• Like Avient, Dyneema® offers similar
core competencies around formulation
and material science
• Technology that combines polymers and
fibers to provide specialized, high
performing solutions for customers
• Design capabilities ensure that
applications are highly customized for
the specified end use
DYNEEMA® IN THE VALUE CHAIN
37
UHMwPE
Fiber / Tapes
Military Personnel,
Law Enforcement
Heavy Marine,
Offshore Wind Energy
and Mooring,
Aquaculture
Outdoor,
Footwear, Apparel,
Inflatables
• Material Science
• Formulation
• Service
INTERMEDIATE MANUFACTURING
(CUSTOMERS) OEM / APPLICATION
DEMAND TRENDS
38
• Military spending and near-term demand for higher performing personal protection
products (like Dyneema®) expected to increase
o European NATO members annual defense spend expected to increase by up to 20%(1)
o Japan aiming to almost double defense spending over the next 5 years(2)
o Accelerated launch of next generation technology in North America
• Policy-driven demand for sustainable energy; growth in floating offshore wind
farms which require advanced, durable technology
o Offshore wind expected to grow at a CAGR of 32% with the level of annual installations
quadrupling over the next five years(3)
• Continued investment in aquaculture as a sustainable food source(4)
• Strong demand in outdoor high performance space across niche consumer
applications aligns with 10% growth assumption for Avient’s Composites portfolio
Sources:
(1) “Funding NATO”, NATO.int (April 1, 2022)
(2) “Japan Ruling Party Calls for Defense Spending Boost to 2% of GDP”, WSJ (April 21, 2022)
(3) “Global Wind Report 2021”, Global Wind Energy Council
(4) “Aquaculture Supports a Sustainable Earth”, NOAA Fisheries
39
A L I G N M E N T W I T H
S U S T A I N A B I L I T Y G O A L S
PRODUCTS
AVIENT’S EXISTING COMPOSITES PORTFOLIO
D I V E R S E C A P A B I L I T I E S A N D S O L U T I O N S S E R V I N G
M A N U F A C T U R E R S A N D O E M S
LFT Tapes Laminates/Panels Shapes Pultrusion Engineered Fibers
40
AVIENT’S COMPOSITES PORTFOLIO
SALES AND EBITDA
41
$74 $84
$216 $212
$261
$5 $10
$32
$41
$49
$180
0
50
100
150
200
$-
$50
$100
$150
$200
$250
$300
$350
$400
$450
$500
$550
$600
$650
$700
$750
2017 2018 2019 2020 2021 2022E
$680
• Dyneema® acquisition will further
improve Composites EBITDA margins
to 26%
• Dyneema® will complement our
existing portfolio with deep formulation
expertise, innovative culture and
global commercial presence
• Composites will continue to be a key
growth driver to deliver future revenue
growth in excess of GDP
(1) Pro forma for the acquisition of Dyneema®
SEGMENT DATA
U.S. & Canada
50%
Latin America
2021 SEGMENT, END MARKET AND GEOGRAPHY
GEOGRAPHY REVENUESEGMENT FINANCIALS
19%
Building and
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
43
34%
Building &
1% Telecommunications
C O L O R , A D D I T I V E S & I N K S
2021 REVENUE | $2 .4 BILLION
32%
40%
Latin America
END MARKET REGION
44
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
27%
Building &
2021 REVENUE | $919 MILLION
END MARKET
55%
REGION
45
D I S T R I BU T I O N
26%
Building and
80%
3%
Latin
America
END MARKET REGION
K EY SU PPL IER S
2021 REVENUE | $1 .6 BILLION
46
TOTA L C O M PA N Y R E G I O N A L S A L E S
BY END MARKET
30%
26%Healthcare
14%
Building &
2% Energy
(16% of sales)
32%
Building &
(25% of sales)
47
19%
Building &
US &
Canada
(50% of sales)
38%
33%
Building &
LATAM
(9% of sales)
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.