https://www.avient.com/sites/default/files/2020-07/avient-abac-canada-200720.pdf
2
Corruption de représentants du gouvernement 2
Corruption commerciale 3
Paiements de facilitation et dessous-de-table 3
Travailler avec des mandataires, des distributeurs et d’autres tiers 3
Diligence raisonnable et processus d’approbation 4
Signauz d’alerte 4
Exigences en matière de comptabilité et de tenue des comptes 4
Signalement d’infractions possibles 5
Service d’assistance en matière de déontologie d’Avient 5
Protection contre les représailles 5
Guide de référence rapide: LES CHOSES À FAIRE ET À NE PAS FAIRE EN MATIÈRE DE LC 6
1
Notre politique mondiale de lutte
contre la corruption
Avient interdit strictement la fraude, la corruption et les
autres pratiques commerciales malhonnêtes dans toutes
ses activités commerciales dans le monde entier.
subject=
4
Diligence raisonnable et processus
d’approbation
Avant de s’engager ou de renouveler une entente en place
avec un mandataire commercial, un distributeur ou tout
autre tiers, les Services juridiques doivent procéder à un
examen et donner leur approbation.
Table des matières
Amérique du Nord
Siège social mondial Avon Lake,
États-Unis
33587 Walker Road Avon Lake, OH,
États-Unis 44012
Sans frais : +1 866 765-9663
Téléphone : +1 440 930-1000
Télécopieur : +1 440 930-3064
Asie-Pacifique
Siège social régional Shanghai,
Chine
2F, Bloc C 200, Jinsu Road
Pudong, 201206 Shanghai, Chine
Téléphone : +86 (0) 21 6028 4888
Télécopieur : +86 (0) 21 6028 4999
Amérique du Sud
Siège social régional Sao Paulo,
Brésil
Av.
https://www.avient.com/sites/default/files/2020-07/avient-abac-spanish-la-200720.pdf
2
Soborno de funcionarios del gobierno 2
Soborno comercial 3
Pagos de facilitación y coimas 3
Trabajar con agentes, distribuidores y otros terceros 3
Proceso de debida diligencia y aprobación 3
Señales de alerta 4
Requisitos de contabilidad y mantenimiento de registros 4
Denuncia de posibles transgresiones 4
Línea directa de ética de Avient 5
Protección contra represalias 5
Referencia rápida: LO QUE SE DEBE Y NO SE DEBE HACER PARA EVITAR EL SOBORNO Y LA CORRUPCIÓN 6
1
Política global antisoborno y
anticorrupción de nuestra empresa
Avient prohíbe terminantemente el fraude, el soborno
y otras prácticas comerciales corruptas en todas sus
operaciones comerciales llevadas a cabo en cualquier
parte del mundo.
subject=
4
Para minimizar el riesgo, Avient debe considerar ciertos
factores antes de entablar una relación con terceros, y todos
los terceros deben cumplir con los siguientes estándares:
• Buena reputación: tienen la experiencia y los
conocimientos necesarios
Índice
Norteamérica
Sede central global de Avon Lake,
Estados Unidos
33587 Walker Road Avon Lake, OH,
Estados Unidos 44012
Número gratuito:
+1 866 765 9663
Teléfono: +1 440 930 1000
Fax: +1 440 930 3064
Asia Pacífico
Sede central regional de Shanghái,
China
2F, Block C 200 Jinsu Road
Pudong, 201206 Shanghái, China
Teléfono: +86 (0) 21 6028 4888
Fax: +86 (0) 21 6028 4999
Sudamérica
Sede central regional de San Pablo,
Brasil
Av.
https://www.avient.com/sites/default/files/2020-07/avient-abac-france-200718.pdf
2
Corruption de représentants officiels publics 2
Corruption commerciale 3
Paiements de facilitation et commissions occultes 3
Travailler avec des agents, distributeurs et autres tiers 3
Diligence raisonnable et processus d’approbation 3
Alertes 4
Exigences en matière de comptabilité et de tenue des registres 4
Signalement des violations potentielles 4
Ligne d’assistance Éthique d’Avient 5
Protection contre les représailles 5
Référence rapide : ABAC, À FAIRE ET À NE PAS FAIRE 6
1
Notre Politique mondiale de lutte
contre la corruption et les
pots-de-vin
Avient interdit strictement la fraude, les pots-de-vin
et autres pratiques commerciales corrompues dans
toutes ses opérations commerciales et partout dans le
monde.
subject=
4
acceptent de respecter les lois ABAC.
Cette interdiction s’applique que l’offre ou le paiement soit effectué directement ou par l’intermédiaire d’une
autre personne
• Faire des saisies trompeuses, incomplètes ou fausses dans les livres et registres d’Avient
• Ignorer les alertes lorsque vous traitez avec des tiers
Table des matières
Amérique du Nord
Siège mondial d’Avon Lake,
États-Unis
33587 Walker Road Avon Lake, Ohio,
États-Unis 44012
Numéro gratuit : +1-866-765-9663
Téléphone : +1-440-930-1000
Télécopie : +1-440 930 3064
Asie Pacifique
Siège régional de Shanghai, Chine
2F, Block C 200 Jinsu Road
Pudong, 201206 Shanghai, Chine
Téléphone : +86 (0) 21 6028 4888
Télécopie : +86 (0) 21 6028 4999
Amérique du Sud
Siège régional de Sao Paulo, Brésil
Av.
https://www.avient.com/sites/default/files/2024-07/TPE Whitepaper_0.pdf
Thermoplastic Elastomers
How TPEs can help medical and pharmaceutical manufacturers
meet growing global demand
2© 2020 Avient Corporation, 33587 Walker Road, Avon Lake, Ohio USA 44012
THE OPPORTUNITY: EFFICIENT
ALTERNATIVES TO VULCANIZED RUBBER
Is there a capacity crunch on the horizon?
In addition, when used to produce easy-open
pill bottles in various colors that can be clearly identified, TPEs aid arthritic patients while they self-
administer medications at home.
4.
Parts Cost
Surplus Stock
Carbon Footprint
Power Consumption
Production Time
TPE Benefits
TPEs can reduce:
TPE Applications
TPEs can used to produce:
Better grips on
instruments
Easy
branding
Easy-to-open
pill bottles
Needs to Meet Future Growth
2010
TPE
Substrate
2030
Futu
re De
man
d
2050
Supply Chain Cap
acity
TPE
Substrate
4© 2020 Avient Corporation, 33587 Walker Road, Avon Lake, Ohio USA 44012
CASE IN POINT: STOPPERS AND SEPTUMS
Versaflex™ HC TPE from Avient offers customers an exceptional
alternative to rubber for septums and stoppers.
https://www.avient.com/company/sustainability/sustainability-report/metrics/planet-data-and-metrics
Top 4 Hazardous Air Pollutants
4
4
https://www.avient.com/sites/default/files/2025-02/MAXXAM Fan Blower Housing Application Snapshot.pdf
AVIENT SOLUTION
NON-HALOGEN FLAME RETARDANT
LEARN MORE
Copyright © 2025, Avient Corporation.
https://www.avient.com/sites/default/files/2025-02/MAXXAM Living Wall Planter Application Snapshot.pdf
AVIENT SOLUTION
NON-HALOGEN FLAME RETARDANT
LEARN MORE
Copyright © 2025, Avient Corporation.
https://www.avient.com/sites/default/files/2022-04/Avient Acquisition of Dyneema and Q1 2022 Results_0.pdf
F I R S T Q U A R T E R 2 0 2 2
R E S U L T S
$123
$136
2021 2022
$0.89
$0.99
2021 2022
Q1 2022 PERFORMANCE
( T O TA L C O M PA N Y )
4
$1,162
$1,294
2021 2022
+ 11%
(+ 14% excluding FX)
Adjusted EPS
+ 11%
(+ 15% excluding FX)
+ 11%
(+ 16% excluding FX)
(in millions) (in millions)
Sales Adjusted Operating Income
Q1 2022 SEGMENT PERFORMANCE
5
CAI
$609
$650
Sales
($ in millions)
SEM Distribution
$89
$95
Operating Income
+ 7%
(+ 10% excluding FX)
$363
$433
Sales
$24 $24
Operating Income
+ 19% Flat
(1)
$217
$245
Sales
$34
$40
Operating Income
+ 7%
(+ 11% excluding FX)
+ 13%
(+ 17% excluding FX)
+ 18%
(+ 20% excluding FX)
Q1 2021 $1,162 $123
Sustainable Solutions 19 8% 7
Healthcare 32 21% 6
Composites (excl.
Morgan
• New Senior Secured Term Loan B and new Senior
Unsecured Notes
• Potential proceeds from sale of Distribution business
modeled to pay off 5.25% senior notes due 2023 and
Term Loan
• Acquisition aligned with Avient’s track record of
disciplined capital allocation policy
• Existing dividend policy maintained, focus on
deleveraging in the near term
(1)
(1) Pro forma for the acquisition of Dyneema® and potential divestiture of Distribution,
including repayment of senior notes due 2023 and Term Loan
Cash and Cash Equivalents 595$
Senior Secured Term Loan due 2026 605$
New Senior Secured Term Loan B 500
Total Senior Secured Debt 1,105$
Senior Unsecured Notes due 2025 650$
New Senior Unsecured Notes 740
Total Senior Unsecured Debt 1,390$
Total Debt 2,495$
Net Debt 1,900$
2022 Pro forma Adjusted EBITDA 660$
Net Debt / Adjusted EBITDA 2.9x
Pro Forma Capitalization
(2022 estimates, all figures in $M)
T WO - Y E A R L E V E R AG E G OA L
24
3.5x
2.7x
1.7x
2.9x
2.5x
2.2x
2019PF 2020PF 2022E 2022PF 2023E 2024E
Dyneema® AcquisitionClariant Color Acquisition
(1) Pro forma for the acquisition of the Clariant Color business
(2) Pro forma for the acquisition of Dyneema® and potential divestiture of
Distribution, including repayment of senior notes due 2023 and Term Loan
(1) (1) (2)
25
P RO F O R M A M O D E L I N G
2022E Pro Forma Pro Forma
($M) w/ Dyneema w/Sale
Revenue 5,100$ 415$ 5,515$ (1,775)$ 3,740$
Adjusted EBITDA 635 130 765 (105) 660
EBITDA % 12% 31% 14% 6% 18%
Pro Forma EPS (Adjusted) 3.50$ 0.00$ 3.50$ (0.56)$ 2.94$
Pro Forma EPS (excl. amortization) 3.96$ 0.35$ 4.31$ (0.56)$ 3.75$
Leverage (12/31/2022E)
Net Debt / Adjusted EBITDA 1.7x 3.5x 2.9x
Avient Dyneema Distribution® ®
OUR SPECIALTY JOURNEY
AC Q U I S I T I O N H I S TO RY
27
Commercial
Resources(1)
Operating Income
($ in millions)
Operating Margins
259
360
At Acquisition 2021
$40
$122
At Acquisition 2021
9%
21%
At Acquisition 2021
Established Acquisitions
(> 7 years)
+ 39% + 210% + 1200 bps
(1) Commercial Resources include associate headcount in R&D / Technical, Marketing and Sales
C L A R I A N T C O LO R AC Q U I S I T I O N
28
$133
$205
2019PF 2021
28
Clariant Color EBITDA Growth
Purchase Price Multiple
10.8x
7.0x
6.1x
2019PF 2021 2021 w/ Full
Synergies
• Acquisition of Clariant Color business significantly expanded
presence in healthcare, packaging and consumer end markets
• Strength of portfolio – double-digit annual EBITDA growth
since acquisition
• $54 million of synergies realized in 2021
• Acquisition completed on July 1, 2020 for $1.45 billion.
Three Months Ended
March 31, 2022
Reconciliation to Condensed Consolidated Statements of Income
GAAP
Results
Special
Items
Adjusted
Results
Operating Income $ 128.6 $ 7.8 $ 136.4
Income before income taxes $ 111.1 $ 7.7 $ 118.8
Income tax expense - GAAP (26.6) — (26.6)
Income tax impact of special items — (2.0) (2.0)
Tax adjustments — 1.5 1.5
Net income attributable to noncontrolling interests (0.3) — (0.3)
Net income attributable to Avient shareholders $ 84.2 $ 7.2 $ 91.4
EPS $ 0.91 0.08 $ 0.99
Weighted-average diluted shares 92.3 92.3 92.3
1
Three Months Ended
March 31, 2021
Reconciliation to Condensed Consolidated Statements of Income
GAAP
Results
Special
Items
Adjusted
Results
Operating Income $ 120.4 $ 2.4 $ 122.8
Income before income taxes $ 102.6 $ 2.4 $ 105.0
Income tax expense - GAAP (22.9) — (22.9)
Income tax impact of special items — (0.9) (0.9)
Tax adjustments — 1.1 1.1
Net income attributable to noncontrolling interests (0.4) — (0.4)
Net income attributable to Avient shareholders $ 79.3 $ 2.6 $ 81.9
EPS $ 0.86 0.03 $ 0.89
Weighted-average diluted shares 92.2 92.2 92.2
Year Ended
December 31, 2021
Reconciliation to Condensed Consolidated Statements of Income
GAAP
Results
Special
Items
Adjusted
Results
Operating income $ 381.2 $ 47.8 $ 429.0
Income from continuing operations before income taxes $ 304.6 $ 57.1 $ 361.7
Income tax expense - GAAP (74.0) — (74.0)
Income tax impact of special items — (13.0) (13.0)
Tax adjustments — 5.9 5.9
Net income attributable to noncontrolling interests 0.2 — 0.2
Net income from continuing operations attributable to Avient shareholders $ 230.8 $ 50.0 $ 280.8
EPS $ 2.51 0.54 $ 3.05
Weighted-average diluted shares 92.1 92.1 92.1
2
Reconciliation of EBITDA by Segment
Three Months Ended
March 31,
Year Ended
December 31,
2022 2021 2021
Operating income:
Color, Additives and Inks $ 94.5 $ 88.8 $ 303.1
Specialty Engineered Materials 39.7 34.2 132.0
Distribution 24.2 24.0 93.2
Corporate and eliminations (29.8) (26.6) (147.1)
Operating income $ 128.6 $ 120.4 $ 381.2
Items below OI in Corporate:
Other income, net $ (0.6) $ 1.5 $ (1.3)
Depreciation & amortization:
Color, Additives and Inks $ 26.0 $ 27.4 $ 105.7
Specialty Engineered Materials 7.8 7.8 31.7
Distribution 0.2 0.2 0.8
Corporate and eliminations 3.8 1.7 7.7
Depreciation & Amortization $ 37.8 $ 37.1 $ 145.9
EBITDA:
Color, Additives and Inks $ 120.5 $ 116.2 $ 408.8
Specialty Engineered Materials 47.5 42.0 163.7
Distribution 24.4 24.2 94.0
Corporate and eliminations (26.0) (24.9) (140.7)
EBITDA $ 165.8 $ 159.0 $ 525.8
Reconciliation of Sales, Operating Income and EBITDA - Distribution
Year Ended
December 31,
2006 2011 2016
Sales $ 732.8 $ 996.5 $ 1,071.0
Operating income 19.2 56.0 68.2
Depreciation & amortization 1.5 0.7 0.7
EBITDA $ 20.7 $ 56.7 $ 68.9
3
Three Months Ended
March 31,
Year Ended
December 31,
Reconciliation to EBITDA and Adjusted EBITDA: 2022 2021 2021
Net income from continuing operations – GAAP $ 84.5 $ 79.7 $ 230.6
Income tax expense 26.6 22.9 74.0
Interest expense 16.9 19.3 75.3
Depreciation and amortization from continuing operations 37.8 37.1 145.9
EBITDA $ 165.8 $ 159.0 $ 525.8
Special items, before tax 7.7 2.4 57.1
Depreciation and amortization included in special items (2.1) (0.5) (1.7)
Adjusted EBITDA $ 171.4 $ 160.9 $ 581.2
4
Masseto IR Presentation - Final.pdf
Avient Corporation �specialty Portfolio Transformation Continues with Dyneema Acquisition
DISCLAIMER
Slide Number 3
Slide Number 4
Slide Number 5
Q1 2022 SALES AND OPERATING INCOME�(Total Company)
Slide Number 7
Slide Number 8
Slide Number 9
Slide Number 10
FIT with Four Pillar Strategy
Dyneema® overview
Slide Number 13
Slide Number 14
Dyneema® in the Value Chain
Demand trends
Products
Avient’s Existing Composites Portfolio
Avient’s Composites Portfolio�Sales and Ebitda
Distribution Divestiture Considerations
Distribution highlights
Dyneema® Transaction Overview
Capital structure / Leverage
Two-Year Leverage Goal
Pro forma modeling
Our Specialty Journey
Acquisition History
Clariant Color Acquisition
Specialty Transformation
2022 ebitda margins vs. peers
Culture and People
Our Specialty Journey continues
Slide Number 33
Avient Acquisition of Dyneema and Q1 2022 Results.pdf
Masseto IR Presentation - 4.19 (515pm) - with attachments.pdf
https://www.avient.com/sites/default/files/2020-07/pvc-extrusion-processors-case-study.pdf
HELPING PVC PROCESSORS OPTIMIZE PERFORMANCE,
CONTROL AND EFFICIENCY IN THE EXTRUSION PROCESS
© 2020, All Rights Reserved
Avient Corporation, 33587 Walker Road, Avon Lake, Ohio USA 44012
Make density and consistency a variable of your
process, not just an output.
A decrease in density of just 0.01–0.02 g/cc
can yield 4% annual savings in material consumption,
while generating a 4% increase in extruder productivity.
https://www.avient.com/resources/safety-data-sheets?page=6295
SILVER LINING 968973 HIPS 4%
PC OPAQUE WHITE 67906 4%