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Enter the appropriate code in the space in line 4.
1—An organization exempt from tax under section 501(a), any IRA, or
a custodial account under section 403(b)(7) if the account satisfies the
requirements of section 401(f)(2)
2—The United States or any of its agencies or instrumentalities
3—A state, the District of Columbia, a U.S. commonwealth or
possession, or any of their political subdivisions or instrumentalities
4—A foreign government or any of its political subdivisions, agencies,
or instrumentalities
5—A corporation
6—A dealer in securities or commodities required to register in the
United States, the District of Columbia, or a U.S. commonwealth or
possession
7—A futures commission merchant registered with the Commodity
Futures Trading Commission
8—A real estate investment trust
9—An entity registered at all times during the tax year under the
Investment Company Act of 1940
10—A common trust fund operated by a bank under section 584(a)
11—A financial institution
12—A middleman known in the investment community as a nominee or
custodian
13—A trust exempt from tax under section 664 or described in section
4947
Form W-9 (Rev. 10-2018) Page 4
The following chart shows types of payments that may be exempt
from backup withholding.
Interest and dividend payments All exempt payees except
for 7
Broker transactions Exempt payees 1 through 4 and 6
through 11 and all C corporations.
Corporation or LLC electing
corporate status on Form 8832 or
Form 2553
The corporation
11.
https://www.avient.com/sites/default/files/2021-05/renol-ul94-compliant-masterbatches-brochure.pdf
Compliance to IEC 60695 part 2-11 for the end product and parts 2-12 and 2-13 for materials is required in
Europe—and increasingly in other regions—for certain electrical and electronic applications.
RENOL™ UL94 COMPLIANT
MASTERBATCHES
HOW TO USE THE TABLES
UL HB
GENERIC RESIN TYPE FLAME
MINIMUM
THICKNESS
MAXIMUM
LET-DOWN
Acetal Copolymer (POM) HB 1.50 1:20
Acrylonitrile Butadiene Styrene (ABS) HB 1.50 1:10
Ethylene Propylene Thermoplastic Rubber (EPTR) HB 1.50 1:20
High Impact Polystyrene (HIPS) HB 1.50 1:10
Liquid Crystal Polymer (LCP) HB 0.83 1:10
Polyamide (PA) HB 3.20 1:33
Polyamide (PA66 and PA 4/6) HB 0.81 1:20
Polyamide 6 (PA6) HB 0.75 1:25
Polyamide 66 (PA66) HB 0.40 1:40
Polybutylene Terephthalate (PBT) HB 0.81 1:20
Polybutylene Terephthalate/Polycarbonate (PBT/PC) HB 1.50 1:10
Polycarbonate (PC) HB 1.50 1:15
Polycarbonate/Acrylonitrile Butadiene Styrene (PC/ABS) HB 1.50 1:20
Polycarbonate/Polyethylene Terephthalate (PC/PET) HB 1.50 1:20
Polyethylene (PE) HB 1.50 1:50
Polyethylene Terephthalate (PET) HB 0.80 1:16.7
Polyketone HB 1.50 1:20
Polymethyl Methacrylate (PMMA) HB 3.00 1:25
Polypropylene (PP) HB 1.50 1:15
Polystyrene (PS) HB 0.83 1:15
Polyurethane (PUR) HB 1.50 1:25
Polyvinylchloride (PVC) HB 1.50 1:20
Styrene Acrylonitrile (SAN) HB 1.50 1:20
Thermoplastic Elastomer (TPE) HB 0.75 1:25
ASCEND
GENERIC
MINIMUM
THICKNESS
FLAME
MAXIMUM
LET-DOWN
Polyamide 66
21X1(a)(f2), 21SPC1(a)(f2),
21SPF1(a)(f2), 21SPG1(a)(f2),
21SPM1(a)(f2), 20NSP1(a)(f2)
0.75 V-2 1:40
22HSP(e) 0.75 V-2 1:40
64C-R 3.0 V-2 1:50
ECO366(e) 0.4 V-0 1:40
ECO366H(e) 0.2 V-0 1:25
FR350J 0.4 V-0 1:25
20NSP(a)(f2), 21SPF(a)(f2),
21SPM(a)(f2), 21SPC(a)(f2) 0.4 V-2 1:40
20NSP(a)(h)(f2), 21SPF(a)(h)(f2),
21SPM(a)(h)(f2), 21SPC(a)(h) (f2) 1.5 V-2 1:20
Polyamide 66/6
(PA66/6)
ECO315(e), ECO315J(e) 0.4 V-0 1:40
M344 3.0 V-0 1:25
909 0.75 V-0 1:25
BASF
GENERIC
MINIMUM
THICKNESS
FLAME
MAXIMUM
LET-DOWN
Polyamide 6
8202(t1), 8202 Blend (t1) 0.71 V-2 1:25
8202C(t1), 8202C BLEND (t1) 1.50 V-2 1:25
8202CHS(t1) (t3), 8202C HS Blend 1.50 V-2 1:25
8202HS(t1) 1.50 V-2 1:25
B3S
0.80 V-2 1:25
B3S Q661 1.50 V-2 1:25
B3S R03 1.50 V-2 1:25
8232G HSFR(t9), B3U10G5 (t9) 1.50 V-0 1:25
Polyamide 6/66
(PA6/66)
C3U (m) 0.40 V-0 1:25
KR4205(m), C3U (m), C3U (t)(m) 0.40 V-0 1:25
KR4205, C3U 0.40 V-0 1:25
Polyamide 66
1000(b), 1310-(b), Ultramid A3K Q603(+) 1.50 V-2 1:10
A3K (o) Q790(g)(f2) 0.41 V-2 1:20
A3K(f2), A3K Q601(f2) 0.41 V-2 1:20
A3SK 0.41 V-2 1:25
A5 3.00 V-2 1:33
A3W(f1), A3W FC (f1) 0.75 V-2 1:10
A3K R01 (t)(g)(f2) 0.40 V-2 1:20
Polybutylene
Terephthalate
B4406 G2 (o) Q798 1.50 V-0 1:20
B4406 G2(a), B4406 G2 (o) Q717(a) 1.50 V-0 1:20
B4406 G3 (o) Q798 1.50 V-0 1:20
B4406 G3(a), B4406 G3 (o) Q717(a) 1.50 V-0 1:20
B4406 G4 (o) Q798 1.50 V-0 1:20
B4406 G4(a2), B4406 G4 (o) Q717(a2) 1.50 V-0 1:20
B4406 G6 (o) Q798 3.00 V-0 1:12.5
B4406 G6(%) 1.50 V-0 1:20
B4406 G6(a1), B4406 G6 (o) Q717(a1),
B4406 G6 (o) Q717 High Speed(a1) 1.50 V-0 1:20
B4406(a), B4406 (o) Q717(a) 1.50 V-0 1:20
B4406@ 1.50 V-0 1:20
B4450 G5, B4450 G5 (t) 0.40 V-2 1:50
Polyurethane
(PUR) 11 85 A(a) FHF 000 (f2) 0.75 V-0 1:33
CELANESE
GENERIC
MINIMUM
THICKNESS
FLAME
MAXIMUM
LET-DOWN
Liquid Crystal
Polymer
(LCP)
A130(+), MT1310 1.50 V-0 1:40
Polyamide 66
(PA66) A3 GF 25 V0XI, A G5 FR C4 0.40 V-0 1:25
Polybutylene
Terephthalate
2012-2 1.50 V-0 1:20
2016(b) 1.50 V-0 1:20
3112-2 1.50 V-0 1:20
3116(b) 1.50 V-0 1:20
3216(b) 1.50 V-0 1:20
3310-2(f2) 1.50 V-0 1:20
3311-3(f2) 1.50 V-0 1:20
3316(b) 1.50 V-0 1:20
3316(b), 3316HF 1.50 V-0 1:20
COVESTRO
GENERIC
MINIMUM
THICKNESS
FLAME
MAXIMUM
LET-DOWN
Polycarbonate
2407 + (z)(f1) 0.75-2.60 V-2 1:10
2807 + MAS183 0.75 V-2 1:25
6455 + (z)
6485 + (z)(f1) 1.50 V-0 1:25
Acrylonitrile
Butadiene Styrene
FR110 + 1.50 V-0 1:33
FR3005 HF + (z), FR3005 HF + BBS314 1.50 V-0 1:12.5
FR3010 + (z)
1.50 V-0 1:25
FR3010 HF + 3.00 V-0 1:25
FR3030 + 3.00 V-0 1:25
DSM
GENERIC
MINIMUM
THICKNESS
FLAME
MAXIMUM
LET-DOWN
Polyamide 46
(PA46) TE250F6(h1)(j) 0.50 V-0 1:25
Polyamide 6
F223-D(f1), F223-D /A(f1) 0.75 V-2 1:25
K222-KGV5(f1)
0.75 V-2 1:16.7
1.50 V-2 1:16.7
K-FKGS6/B(f1)(y) 0.80 V-0 1:25
Polyamide 66
(PA66) SG-KGS6/HV 0.75 V-0 1:25
Thermoplastic
Elastomer
(TPE)
PL460-S 1.60 V-0 1:25
Polyamide 4T
(PA4T) T11 (h) 0.40 V-0 1:20
DOMO
GENERIC
MINIMUM
THICKNESS
FLAME
MAXIMUM
LET-DOWN
Polyamide
(PA) J 60X1 V30 0.40 V-0 1:25
Polyamide 6
(PA6) PSB 286
0.80 V-2 1:25
3.00 V-2 1:25
Polyamide 66
A 205F(r4) 0.38 V-2 1:25
A 225F 0.75 V-2 1:25
A 50H1 (r3)(f2) 0.40 V-0 1:25
A 30G1 0.40 V-0 1:25
DUPONT
GENERIC
MINIMUM
THICKNESS
FLAME
MAXIMUM
LET-DOWN
Polyamide
(PA)
132F(+)(f1), 135F(+)(f1) 0.75 V-2 1:20
HTNFR42G30NH 0.40 V-0 1:25
Polyamide 6/12
(PA6/12) 151, 151L 1.50 V-2 1:25
Polyamide 66
101(r9)(f1), 101F(r9)(f1), 101L(r9)(f1),
E101(r9)(f1), E101L(r9)(f1) 0.75 V-2 1:20
103FHS(+), 103HSL(+), RN5077E(+),
E103HSL(+) 0.75 V-2 1:20
A428 0.75 V-0 1:20
FE3757(+) 0.75 V-2 1:25
FR15(+) 0.75 V-0 1:20
FR50(+)(f1) 0.35 V-0 1:20
FR7025V0F(+) 0.50 V-0 1:33
Polyamide 66/6
(PA66/6) FR72G25V0 0.80 V-0 1:25
Polyamide 66/6T
(PA66/6T) FR95G25V0NH 0.40 V-0 1:25
Polyamide 6T/66
(PA6T/66)
HTNFR52G15AL 0.75 V-0 1:33
HTNFR52G30BL(r3) 0.75 V-0 1:33
HTNFR52G30L(+), FE15502(+),
HTNFR52G30AL(+) 0.75 V-0 1:33
HTNFR52G30NH(r6)
0.40 V-0 1:25
0.75 V-0 1:10
HTNFR52G35BL 0.75 V-0 1:25
HTNFR52G35L(+), HTNFR52G35AL 0.75 V-0 1:33
Polyamide 6T/
MPMDT HTNFR51G35L(+) 0.81 V-0 1:33
Polybutylene
Terephthalate
LW9030FR 1.50 V-0 1:25
S650FR 1.50 V-0 1:25
SK642FR 1.50 V-0 1:25
SK652FR1 1.50 V-0 1:16.5
T841FR (r4) 1.50 V-0 1:25
Polyethylene
Terephthalate
(PET)
FR530(l)(+)(f1), FR530L(l)(+)(f1) 0.75 V-0 1:25
Thermoplastic
Elastomer
(TPE)
HTR8068 1.60 V-0 1:25
EXXONMOBIL
GENERIC
MINIMUM
THICKNESS
FLAME
MAXIMUM
LET-DOWN
Ethylene
Propylene
Thermoplastic
Rubber
(EPTR)
251-80W232(f7) 1.50 V-2 1:20
251-92W232 1.50 V-0 1:20
251-70W232
1.00 V-2 1:10
LANXESS
GENERIC
MINIMUM
THICKNESS
FLAME
MAXIMUM
LET-DOWN
Polyamide 6
B30S+(f1) 1.50 V-2 1:25
B31SK+ 1.50 V-2 1:25
Polybutylene
Terephthalate
B4235+ 1.50 V-0 1:10
TP364-302+, BF4232+(f1) 0.75 V-0 1:25
GENERIC
MINIMUM
THICKNESS
FLAME
MAXIMUM
LET-DOWN
Polybutylene
Terephthalate
310(w) 1.50 V-0 1:20
310SE0(w) 1.50 V-0 1:20
310SE0(w),310SE0R(w) 1.50 V-0 1:20
420SE0(f1)(w)(GG)(rr1) 1.50 V-0 1:20
420SE0(f1)(w)(GG)(rr2) 1.50 V-0 1:20
457(w) 1.50 V-0 1:20
457(w), 451(w) 1.50 V-0 1:20
553(a)(f1)(w) 1.50 V-0 1:20
553(a)(f1)(w), 553E(a)(f1)(w),
553U(a)(f1)(w) 1.50 V-0 1:20
553(w)(f1), 553M(w)(f1) 1.50 V-0 1:20
DR48(w) 1.50 V-0 1:20
DR48,DR48M 1.50 V-0 1:20
V4760(a2) 0.40 V-0 1:20
EXVX1259, ENH4550 0.40 V-0 1:20
771 0.75 V-0 1:25
Polybutylene
Terephthalate/
Polycarbonate
(PBT/PC)
357(f1)(w)(IC), 357M(f1)(w)(IC),
357U(f1)(w)(IC) 1.50 V-0 1:20
357(f1)(w)(IC), 357U(f1)(w)(IC) 1.50 V-0 1:20
357X(f1) 1.50 V-0 1:20
V3900WX(GG)(f1)(IA),
V3901WX(GG)(f1)(IA)
3.00 V-0 1:20
1.50 V-0 1:20
357(w)(f2)(IC), 357M(w)(f2)(IC),
357U(w)(f2)(IC) 1.50 V-0 1:20
GENERIC
MINIMUM
THICKNESS
FLAME
MAXIMUM
LET-DOWN
Polycarbonate
221(f2) 1.50 V-2 1:25
221R(f2) 1.50 V-2 1:25
500(f2), 500R(f2) 3.00 V-0 1:33
503(f1)
3.00 V-0 10:1
1.50 V-0 10:1
503(f1), 503R(f1)
3.00 V-0 10:1
1.50 V-0 10:1
943(ab) 1.50 V-0 1:20
943(f1) 1.50 V-0 1:20
943(f1), 923(f1) 1.50 V-0 1:20
950A, 920ASR, FXD911A(GG), 940ASR 1.50 V-2 1:25
CFR7630(f1)(gg*) 1.50 V-0 1:25
ML5139R(f2) 3.00 V-0 1:33
950A, FXD911A(GG), 940ASR 3.00 V-0 1:25
943 1.50 V-0 1:20
920A
Acrylonitrile
Butadiene Styrene
C2950 1.50 V-0 6:100
C6200(GG) 2.00 V-0 1:20
Acrylonitrile
Styrene Acrylate/
Polycarbonate
(ASA/PC)
HRA222 (GG) 0.80 V-2 1:20
SOLVAY
GENERIC
MINIMUM
THICKNESS
FLAME
MAXIMUM
LET-DOWN
Polyphenyl Sulfone
(PPSU) R-5100 (r1)(##), R-5000 (r1)(##) 1.50 V-0 1:10
Polyphthalamide
(PPA) AFA-4133 V0(+) (*) 0.75 V-0 1:25
BASE RESIN
GENERIC
SPECIFIC
MINIMUM
THICKNESS
FLAME
MAXIMUM
LET-DOWN
ALBIS Polypropylene
(PP) PP 13 CV2 14 1.50 V-2 1:25
AVIENT Polyvinylchloride
M3700(X), M3755(X) 1.50 V-0 1:25
M3900 1.50 V-0 1:25
CHI MEI
Acrylonitrile
Butadiene Styrene
(ABS)
PA-765(+) 1.50 V-0 1:10
Acrylonitrile
Butadiene Styrene
PC-510(+) 1.50 V-0 1:25
EMS-CHEMIE Polyamide 6
(PA6) Grilon A 26 V0 0.75 V-0 1:25
FORMOSA Polycarbonate
(PC) #1700+(f2) 0.36-0.42 V-2 1:50
GEON Polyvinylchloride
85891(f1) 1.70 V-0 1:20
85891(f2) 1.70 V-0 1:20
M3700(X) 1.50 V-0 1:25
M3900
1:25
INEOS Polystyrene
(PS) 855 HV 3.00 V-1 100:4
INVISTA Polyamide 66
FRU4800 XHL (r1) 0.40 V-0 1:25
U4820L (r1) 0.40 V-2 1:25
BASE RESIN
GENERIC
SPECIFIC
MINIMUM
THICKNESS
FLAME
MAXIMUM
LET-DOWN
KINGFA Polyamide 66
(PA66) PA66-R11G25 (##) 0.25 V-0 1:25
KURARAY Polyamide 9T
(PA9T) GP2300S 0.40 V-0 1:25
LG CHEM
Acrylonitrile
Butadiene Styrene
LUPOY GP-5106-F 3.00 V-0 1:20
LOTTE CHEMICAL
Acrylonitrile
Butadiene Styrene
(ABS)
VH-0800(+) 1.50 V-0 1:25
Polycarbonate
(PC) HN-1064(+)
0.75 V-2 1:10
1.20 V-1 1:10
Polystyrene
(PS) VH-1800+
1.50 V-0 1:25
MITSUBISHI Polycarbonate
(PC) S-2000+(f1) 1.50-1.80 V-2 1:10
POLYMER
PRODUCTS
Polystyrene
(PS)
ZYNTAR 351
2.00 V-0 1:20
1.50 V-0 1:20
ZYNTAR 7000 2.00 V-0 1:25
ZYNTAR 702 2.00 V-0 1:25
8020 2.00 V-0 1:20
8120 2.00 V-0 1:20
8130 1.50 V-0 1:20
POLYMER
RESOURCES
Polycarbonate
PC-FR1A-D, PC-
FR2A-D, PC-FR3A-D
3.00 V-0 1:33
1.50 V-2 1:33
SUMITOMO
Liquid Crystal
Polymer
(LCP)
E6007LHF(ra) 0.30 V-0 1:25
E6007LHF-MR(gt) 0.20 V-0 1:12.5
BASE RESIN
GENERIC
SPECIFIC
MINIMUM
THICKNESS
FLAME
MAXIMUM
LET-DOWN
TORAY
Polyamide 6
(PA6) 1017 1.60 V-2 1:16.5
Polyamide 66
3004-V0(rr),
CM3004-V0(rr) 0.40 V-0 1:25
TRINSEO Polycarbonate
(PC) 891(w) 1.10 V-0 1:25
WELLMAN Polyamide 66/6
(PA66/6) 220-N, 21L-N, 22L-N 1.50 V-2 1:25
WESTLAKE Polyvinylchloride
6597(f1), HF-6597(f1) 1.50 V-0 1:25
SP-7107 (f1)(a) 3.00 V-0 1:25
5VA AND 5VB
BASE RESIN
GENERIC
SPECIFIC
MINIMUM
THICKNESS
FLAME
RATING COLORS
MAXIMUM
LET-DOWN
AVIENT Polyvinylchloride
(PVC) M3900 1.50 5VB
ALL 1:25
WHITE 1:10
COVESTRO
Acrylonitrile
Butadiene Styrene
FR3010 + (z) 3.00 5VA ALL 1:25
DUPONT
Polyamide 66/6T
(PA66/6T) FR95G25V0NH 1.50 5VA ALL 1:25
Polybutylene
Terephthalate
LW9030FR
2.00 5VA BLACK 1:25
3.00 5VA ALL 1:25
SK642FR 1.50 5VA BLACK 1:25
GEON Polyvinylchloride
(PVC) M3900 1.50 5VB
ALL 1:25
WHITE 1:10
Polybutylene
Terephthalate/
Polycarbonate
(PBT/PC)
V3900WX(GG)(f1)(IA),
V3901WX(GG)(f1)(IA) 3.00 5VA ALL 1:20
1.844.4AVIENT
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Investor Day
POLYONE
I N V E S T O R
P R E S E N T A T I O N
A U G U S T 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!
https://www.avient.com/sites/default/files/resources/Investor%2520Presentation%2520May19.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 Y 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!
https://www.avient.com/sites/default/files/2022-02/Q4 2021 Avient Earnings Release_0.pdf
In addition, a recording of the audio will be available for one week, beginning at 11:00 a.m.
2) Tax adjustments include the net tax benefit/(expense) from one-time income tax items, adjustments to uncertain tax position reserves and
deferred income tax valuation allowances.
10
Attachment 4
Avient Corporation
Condensed Consolidated Balance Sheets (Unaudited)
(In millions)
Year Ended
December 31,
2021 2020
ASSETS
Current assets:
Cash and cash equivalents $ 601.2 $ 649.5
Accounts receivable, net 642.3 516.6
Inventories, net 461.1 327.5
Other current assets 128.1 108.5
Total current assets 1,832.7 1,602.1
Property, net 676.1 694.9
Goodwill 1,286.4 1,308.1
Intangible assets, net 925.2 1,008.5
Operating lease assets, net 74.1 80.9
Other non-current assets 208.4 176.0
Total assets $ 5,002.9 $ 4,870.5
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Short-term and current portion of long-term debt $ 8.6 $ 18.6
Accounts payable 553.9 471.7
Current operating lease obligations 24.2 25.1
Accrued expenses and other current liabilities 359.6 285.6
Total current liabilities 946.3 801.0
Non-current liabilities:
Long-term debt 1,850.3 1,854.0
Pension and other post-retirement benefits 100.0 115.0
Deferred income taxes 100.6 140.0
Non-current operating lease obligations 50.1 56.0
Other non-current liabilities 165.1 192.8
Total non-current liabilities 2,266.1 2,357.8
SHAREHOLDERS' EQUITY
Avient shareholders’ equity 1,774.7 1,697.1
Noncontrolling interest 15.8 14.6
Total equity 1,790.5 1,711.7
Total liabilities and equity $ 5,002.9 $ 4,870.5
11
Attachment 5
Avient Corporation
Condensed Consolidated Statements of Cash Flows (Unaudited)
(In millions)
Year Ended
December 31,
2021 2020
Operating activities
Net income $ 230.6 $ 133.4
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization 144.2 111.8
Accelerated depreciation 1.7 3.2
Share-based compensation expense 11.2 11.3
Changes in assets and liabilities, net of the effect of acquisitions:
Increase in accounts receivable (143.1) (4.6)
(Increase) decrease in inventories (139.5) 40.2
Increase in accounts payable 95.3 78.4
(Decrease) increase in pension and other post-retirement benefits (10.9) 30.7
Increase in post-acquisition earnout liabilities — 1.0
Increase (decrease) in accrued expenses and other assets and liabilities, net 44.3 (3.7)
Taxes paid on gain on divestiture — (142.0)
Payment of post-acquisition date earnout liability — (38.1)
Net cash provided by operating activities 233.8 221.6
Investing activities
Capital expenditures (100.6) (63.7)
Business acquisitions, net of cash acquired (47.6) (1,380.2)
Net proceeds from divestiture — 7.1
Other investing activities (2.0) 5.2
Net cash used by investing activities (150.2) (1,431.6)
Financing activities
Debt offering proceeds — 650.0
Purchase of common shares for treasury (4.2) (22.4)
Cash dividends paid (77.7) (71.3)
Repayment of long-term debt (18.5) (7.8)
Payments on withholding tax on share awards (10.7) (2.3)
Debt financing costs — (9.5)
Equity offering proceeds, net of underwriting discount and issuance costs — 496.1
Payment of acquisition date earnout liability — (50.8)
Other financing activities (3.5) —
Net cash (used) provided by financing activities (114.6) 982.0
Effect of exchange rate changes on cash (17.3) 12.8
Decrease in cash and cash equivalents (48.3) (215.2)
Cash and cash equivalents at beginning of year 649.5 864.7
Cash and cash equivalents at end of year $ 601.2 $ 649.5
12
Attachment 6
Avient Corporation
Business Segment Operations (Unaudited)
(In millions)
Operating income at the segment level does not include: special items as defined in Attachment 3; corporate general and
administration costs that are not allocated to segments; intersegment sales and profit eliminations; share-based compensation
costs; and certain other items that are not included in the measure of segment profit and loss that is reported to and reviewed by
the chief operating decision maker.
https://www.avient.com/sites/default/files/2021-07/avnt-q2-2021-earnings-release.pdf
In addition, a recording of the audio will be available for one week, beginning at 11:00 a.m.
2) Tax adjustments include the net tax benefit/(expense) from one-time income tax items, the set-up or reversal of uncertain tax position
reserves and deferred income tax valuation allowance adjustments.
9
Attachment 4
Avient Corporation
Condensed Consolidated Balance Sheets
(In millions)
(Unaudited)
June 30, 2021
December 31,
2020
ASSETS
Current assets:
Cash and cash equivalents $ 616.2 $ 649.5
Accounts receivable, net 705.2 516.6
Inventories, net 412.5 327.5
Other current assets 124.2 108.5
Total current assets 1,858.1 1,602.1
Property, net 680.1 694.9
Goodwill 1,281.7 1,308.1
Intangible assets, net 944.9 1,008.5
Operating lease assets, net 87.3 80.9
Other non-current assets 195.3 176.0
Total assets $ 5,047.4 $ 4,870.5
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Short-term and current portion of long-term debt $ 18.8 $ 18.6
Accounts payable 574.6 471.7
Current operating lease obligations 24.9 25.1
Accrued expenses and other current liabilities 316.0 285.6
Total current liabilities 934.3 801.0
Non-current liabilities:
Long-term debt 1,852.2 1,854.0
Pension and other post-retirement benefits 112.6 115.0
Non-current operating lease obligations 62.8 56.0
Other non-current liabilities 299.1 332.8
Total non-current liabilities 2,326.7 2,357.8
SHAREHOLDERS' EQUITY
Avient shareholders’ equity 1,768.2 1,697.1
Noncontrolling interest 18.2 14.6
Total equity 1,786.4 1,711.7
Total liabilities and equity $ 5,047.4 $ 4,870.5
10
Attachment 5
Avient Corporation
Condensed Consolidated Statements of Cash Flows (Unaudited)
(In millions)
Six Months Ended
June 30,
2021 2020
Operating Activities
Net income $ 149.1 $ 56.0
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization 69.5 40.8
Accelerated depreciation and amortization 1.4 —
Share-based compensation expense 5.6 5.7
Changes in assets and liabilities, net of the effect of acquisitions:
(Increase) decrease in accounts receivable (196.1) 16.8
(Increase) decrease in inventories (88.1) 17.4
Increase (decrease) in accounts payable 108.4 (23.5)
Decrease in pension and other post-retirement benefits (9.2) (12.7)
Increase (decrease) in accrued expenses and other assets and liabilities, net 27.5 (3.5)
Payment of post-acquisition date earnout liability — (21.0)
Net cash provided by operating activities 68.1 76.0
Investing activities
Capital expenditures (42.1) (21.3)
Net proceeds from divestiture — 7.1
Net cash proceeds provided by other assets (2.0) 5.2
Net cash used by investing activities (44.1) (9.0)
Financing activities
Debt offering proceeds — 650.0
Purchase of common shares for treasury (4.2) (13.6)
Cash dividends paid (38.8) (34.3)
Repayment of long-term debt (4.4) (4.2)
Payments of withholding tax on share awards (4.2) (1.6)
Debt financing costs — (9.7)
Equity offering proceeds, net of underwriting discount and issuance costs — 496.1
Payment of acquisition date earnout liability — (32.9)
Net cash (used) provided by financing activities (51.6) 1,049.8
Effect of exchange rate changes on cash (5.7) (4.5)
(Decrease) increase in cash and cash equivalents (33.3) 1,112.3
Cash and cash equivalents at beginning of year 649.5 864.7
Cash and cash equivalents at end of period $ 616.2 $ 1,977.0
11
Attachment 6
Avient Corporation
Business Segment Operations (Unaudited)
(In millions)
Operating income and earnings before interest, taxes, depreciation and amortization (EBITDA) at the segment level does not
include: special items as defined in Attachment 3; corporate general and administration costs that are not allocated to
segments; intersegment sales and profit eliminations; share-based compensation costs; and certain other items that are not
included in the measure of segment profit and loss that is reported to and reviewed by the chief operating decision maker.
https://www.avient.com/sites/default/files/2021-04/avnt-fourth-quarter-2020-news-release.pdf
NEWS RELEASE
FOR IMMEDIATE RELEASE
Avient Announces Fourth Quarter and Full Year 2020 Results
and Provides Guidance for 2021
Fourth Quarter Results
• GAAP EPS from continuing operations of $0.81 compared to $0.08 in the prior year quarter
• Record fourth quarter adjusted EPS of $0.52 increased 73% compared to $0.30 pro forma*
in the prior year, driven by strong organic revenue growth in all segments, improved
operating margins and synergy capture from the Clariant Masterbatch acquisition
• Increased dividend for the 10th consecutive year to $0.85 a share on an annualized basis
Full Year Results
• Completed transformational Clariant Masterbatch acquisition and renamed the company as
Avient
• GAAP EPS from continuing operations of $1.46 compared to $0.97 in the prior year
• Adjusted EPS increased 11% to $1.93 pro forma, on strength in healthcare, packaging and
consumer end markets
• Specialty Engineered Materials (SEM) segment delivered record operating income of $94
million, driven by growth in composites and demand for outdoor high performance
applications
CLEVELAND – February 9, 2021 – Avient Corporation (NYSE: AVNT), a leading provider of
specialized and sustainable material solutions, today reported its full year and fourth quarter
results for 2020.
Three Months Ended
Year Ended
Sales:
Color, Additives and Inks $ 525.8 $ 226.7 $ 1,502.9 $ 1,003.8
Specialty Engineered Materials 190.6 177.5 708.8 745.7
Distribution 305.1 272.4 1,110.3 1,192.2
Corporate and eliminations (24.5) (18.0) (79.9) (79.0)
Sales $ 997.0 $ 658.6 $ 3,242.1 $ 2,862.7
Gross margin:
Color, Additives and Inks $ 164.3 $ 73.9 $ 484.4 $ 338.4
Specialty Engineered Materials 59.1 47.7 207.6 200.2
Distribution 32.4 31.0 124.0 132.1
Corporate and eliminations (2.9) 0.7 (31.7) (13.5)
Gross margin $ 252.9 $ 153.3 $ 784.3 $ 657.2
Selling and administrative expense:
Color, Additives and Inks $ 106.8 $ 46.7 $ 303.6 $ 191.0
Specialty Engineered Materials 28.7 28.9 113.2 116.5
Distribution 14.4 14.0 54.5 56.7
Corporate and eliminations 38.0 43.2 123.7 136.2
Selling and administrative expense $ 187.9 $ 132.8 $ 595.0 $ 500.4
Operating income:
Color, Additives and Inks $ 57.5 $ 27.2 $ 180.8 $ 147.4
Specialty Engineered Materials 30.4 18.8 94.4 83.7
Distribution 18.0 17.0 69.5 75.4
Corporate and eliminations (40.9) (42.5) (155.4) (149.7)
Operating income $ 65.0 $ 20.5 $ 189.3 $ 156.8
11
Attachment 7
Reconciliation of Non-GAAP Financial Measures (Unaudited)
Senior management uses gross margin before special items and operating income before special items to assess performance
and allocate resources because senior management believes that these measures are useful in understanding current
profitability levels and how it may serve as a basis for future performance.
https://www.avient.com/sites/default/files/2023-11/AVNT November IR Presentation.pdf
Avient 2011, 2018 and 2021 multiples reflect trailing 12 months EBITDA at December 31.
28
EV / 2023E EBITDA
6.5
8.5
11.0
8.9
12.0 11.9
10.9
9.9
8.2
16.3
13.8
11.9
9.6 9.5 9.5 9.2
7.7
11
21
O
ct
23
PM PP
FM
C C
Avient Historic Multiple
Avient Specialty
Other Specialty /
AP P E N DI X
30
Performance
Additives
16%
Pigments
12%
TiO2
Dyestuffs
2%
Polyethylene
Nylon
Polypropylene
Styrenic Block
Copolymer
Other Raw
Materials
33%
~40% hydrocarbon based
(Grey shaded materials are hydrocarbon based,
includes portion of “Other Raw Materials”)
Non-hydrocarbon
based materials
2022 pro forma results for the acquisition of Avient Protective Materials
RAW MATERIAL BASKET
SEGMENT DATA
U.S. & Canada
40%
37%
18%
2022 PRO FORMA SEGMENT, END MARKET AND GEOGRAPHY
GEOGRAPHY REVENUESEGMENT FINANCIALS
Building and
END MARKET REVENUE
$2,355M $402M
$1,300M $272M
Sales EBITDA
Specialty Engineered Materials
Color Additives and Inks
$592M$3,653M
(1)
9%
32
(1) Total company sales and adjusted EBITDA of $3,653M and $592M, respectively, include intercompany sales eliminations and corporate costs
2022 REVENUE | $2 .4 BILLION
US & Canada
34%
38%
END MARKET REGION
33
34%
21%
Building &
1% Energy
2%
COLOR, ADDITIVES & INKS
2022 PRO FORMA REVENUE | $1 .3 BILLION
US & Canada
52%
35%
34
19%
8%Industrial
16%
9% Defense
Building &
END MARKET REGION
SPECIALTY ENGINEERED MATERIALS
32%
27%
14%
Building &
3%
1% Defense
1%
(18% of sales)
9%
2022 PROFORMA AVIENT REGIONAL SALES
27%
14%
17%
Building &
(37% of sales)Transportation
12%
Building &
US &
Canada
(40% of sales)
7%
56%
23%
7%
Building &
1%
LATAM
(5% of sales)
3%
35
BY END MARKET
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.
Three Months Ended
September 30, 2023
Three Months Ended
September 30, 2022
Reconciliation to Condensed Consolidated Statements of Income: $ EPS $ EPS
Net income (loss) from continuing operations attributable to Avient
shareholders $ 5.1 $ 0.06 $ (27.4) $ (0.30)
Special items, after tax 32.0 0.35 68.3 0.75
Amortization expense, after-tax 15.2 0.16 $ 13.4 $ 0.14
Adjusted net income / EPS $ 52.3 $ 0.57 $ 54.3 $ 0.59
September 30,
Reconciliation to EBITDA and Adjusted EBITDA: 2023 2022
Sales - GAAP $ 753.7 $ 823.3
Pro Forma APM adjustments — 60.7
Pro forma adjusted sales $ 753.7 $ 884.0
Net income from continuing operations – GAAP $ 5.1 $ (27.8)
Income tax (benefit) expense (0.1) (1.2)
Interest expense, net 30.3 37.3
Depreciation and amortization 46.4 39.8
EBITDA from continuing operations $ 81.7 $ 48.1
Special items, before tax 43.2 82.0
Interest expense included in special items (2.2) (10.0)
Depreciation and amortization included in special items — (0.8)
Adjusted EBITDA $ 122.7 $ 119.3
Pro forma APM adjustments — 17.2
Pro forma adjusted EBITDA $ 122.7 $ 136.5
Pro forma adjusted EBITDA as a % of sales 16.3 % 15.4 %
1
Year Ended
December 31,
Reconciliation to EBITDA and Adjusted EBITDA: 2006 2018
Sales $ 2,622.4 $ 3,533.4
Net income from continuing operations – GAAP $ 133.5 $ 160.8
Income tax expense 29.7 36.4
Interest expense, net 63.1 62.8
Depreciation and amortization 57.1 91.5
EBITDA from continuing operations $ 283.4 $ 351.5
Special items, before tax (34.0) 59.5
Depreciation and amortization included in special items — (3.0)
JV - equity income (107.0) —
Adjusted EBITDA $ 142.4 $ 408.0
Adjusted EBITDA as a % of sales 5.4 % 11.5 %
Reconciliation to EBITDA and Adjusted EBITDA:
December 31, 2022
Net loss from continuing operations – GAAP $ (16.6)
Income tax benefit (60.8)
Interest expense, net 49.4
Depreciation and amortization 48.6
EBITDA from continuing operations $ 20.6
Special items, before tax 104.3
Interest expense included in special items (16.0)
Depreciation and amortization included in special items (1.5)
Adjusted EBITDA $ 107.4
Reconciliation of Pro Forma Adjusted Earnings per Share:
Three Months Ended
December 31, 2022
Net loss from continuing operations attributable to Avient
shareholders $ (17.0)
Special items, after tax 38.3
Amortization expense, after-tax 14.6
Adjusted net income from continuing operations excluding special
items 35.9
Pro forma adjustments* 2.5
Pro forma adjusted net income from continuing operations attributable
to Avient shareholders $ 38.4
Weighted average diluted shares 91.7
Pro forma adjusted EPS - excluding special items pro forma for APM
acquisition $ 0.42
* Pro forma adjustment to reflect APM results for the period before Avient ownership including the impacts of debt financing and paydown of
debt with net proceeds from the Distribution sale.
2
AVNT November IR Presentation (11.3) 3PM
Avient corporation�investor presentation
DISCLAIMER
Slide Number 3
Creating a world-class�sustainable organization
Top-tier sustainability performance�and recognition
What we do: We are a formulator
Slide Number 7
Avient protective materials �First Year
Slide Number 9
Slide Number 10
Slide Number 11
Slide Number 12
Slide Number 13
Slide Number 14
Slide Number 15
Slide Number 16
Slide Number 17
Slide Number 18
Slide Number 19
Slide Number 20
Slide Number 21
Slide Number 22
Slide Number 23
Slide Number 24
Slide Number 25
Avient is asset light
Free cash flow conversion
Multiple expansion
Slide Number 29
Slide Number 30
Slide Number 31
2022 pro forma segment, end market and Geography
Color, Additives & Inks
Specialty Engineered Materials
Slide Number 35
IR Deck - AVNT-2023.09.30 Non GAAP Recs
Attachment
https://www.avient.com/sites/default/files/resources/September%2520Investor%2520Presentation.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
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 P O S T P P & S D I V E S T M E N T
2 0 1 8 R E V E N U E | $ 2 . 9 B I L L I O N
Segment End Market Geography
17%
Wire & Cable
Building &
Electrical &
Color
Additives &
Inks 35%
Distribution
43%
Specialty
Engineered
22%
United States
53% Europe 19%
Latin
America
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
*Pro Forma for sale of DSS
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%
**ROIC is defined as TTM adjusted OI after tax divided by the sum of average debt and equity less cash over a 5 quarter period
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
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
710130
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 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
24
Inside sellers
$11M
$109M
Inside sales/digital revenue
A L I G N I N G W I T H T R E N D S F O R G R O W T H
T R A N S P O R T A T I O N P A C K A G I N G H E A L T H C A R E C O N S U M E R
PolyOne Corporation 12
Facilitate
alternative
energy
solutions
Light-
weighting
Reduce
packaging
materials
Improve
recyclability
Reduce
spread of
infection
I N N O V A T I O N
PolyOne Corporation 13
Customization
55%
M&A
30%
Innovation
Pipeline
Innovation comes from Research & Development Spend
($ millions)
Vitality Index
% of sales from products launched last 5 years
35%
$20
$56
Transformational
Opportunity for Growth
Through M&A
Adjacent
Opportunity for
Growth Through New
Product Pipeline
Core
Customization
3 H O R I Z O N S O F D E V E L O P M E N T
PolyOne Corporation 14
Incremental
development
from existing
base of
technology
New development
adjacent to current
New technology
development
outside of and with
our current base
Service adjacent
markets and
Create new
markets, target
new customer
needs
Service existing
markets and
Market
Technical
I N N O V A T I O N
Non-Halogen Flame
Retardants
Barrier Technologies
Fiber Colorants
Advanced Composites
Thermoplastic Elastomers
Gordon Composites/
Polystrand – Composites
GLS – Thermoplastic Elastomers
ColorMatrix – Liquid Color & Additives
PlastiComp
Fiber-Line
I N N O V A T I O N P I P E L I N E
PolyOne Corporation 15
PrototypeFrame
Opportunity
Scale-up & Test
Market
Build
Business Case
Commercial
Launch
(since 2017)
Phase 1 Phase 2 Phase 3 Phase 4 Phase 5
8
2
44 0
4
Breakthrough
Platform
Derivative
Number of Projects 10 5 17 5 10 47
Total Addressable Market
($ millions)
- - $1,767 $315 $766 $2,848
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
Polymer
Composite
Strength
Design Flexibility
Continuous
Fiber
Thermoset
Short Glass
Fiber
Thermoplastics
Continuous Fiber
Long Glass Fiber
Thermoplastics
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
Acquired
Polystrand
Installed LFT
production
Avon Lake
Acquired
Gordon
Thermoplastic Composites
Long Fiber Reinforced Thermoplastics
Continuous Fiber Thermosets
Long Fiber
Thermoplastic
(LFT)
Installed LFT
production
Barbastro,
Spain
Acquired
Glasforms
Long Fiber Reinforced Thermoplastics
Continuous Fiber Thermosets
2012 2015 20162009 2011
Acquired
PlastiComp,
specialty LFT
producer
PolyOne Corporation
2019
Acquired
Fiber-Line,
specialty
fiber
processor
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
Bulkheads and Transoms
Ceilings and Hatches
Doors and Cabinetry
Flooring
Door Panels
Side Walls
Flooring & Side Panels
Aerodynamic Fairings
Seat and Bunk
Reinforcements
F I B E R - L I N E H I G H L I G H T S
PolyOne Corporation 20
71%
1%
2018PF Sales by Market
Fiber Optics
Oil & Gas
Estimated 2019 Sales:
$100M
• Abrasion
resistance
• Adhesion
enhancement
• Anti-microbial
• Chemical
resistance
• Color
• Conductivity
• Fire retardant
• Glow-in-the-
dark
• Process
enhancement
• UV inhibitor
• Water
swellable
• Water
repellency
• Entangling
• Extrusion
• Pultrusion
• Twisting
• Winding
• Braiding
• Stranding
High Performance
Fiber and Polymers
Suppliers
Customer
Value
Coating
Processing
Fiber-Line
Bare and Coated
Fiber and
Composite Rod
Customers
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
1.
PolyOne investor presentation
Forward Looking Statements
USE OF �NON-GAAP�MEASURES
Vision
Safety First
PolyOne Post pp&s divestment�2018 Revenue | $2.9 billion
Proof of Performance
Sustainable Path to Double-Digit EPS Growth
Investment in Commercial Resources driving growth
The Evolving Customer Relationship
Slide Number 11
Aligning with trends for Growth
Innovation
3 Horizons of Development
Innovation Pipeline
Innovation Spotlight: Composites
Composites Refresher
Strategic Investment History
COMPOSITES in Transportation
Fiber-line highlights
PolyOne applications in Fiber optic cables
Fiber optical growth drivers
Invest-to-Grow M&A Strategy
Invest-to-Grow M&A Playbook
Invest-to-Grow Proof of performance
Invest-to-Grow Driving the future
Strong Pipeline�driven by fragmented Market
Returning cash to shareholders�Over $1.2 Billion since 2011
ROIC drives shareholder return
Why Invest In PolyOne?
https://www.avient.com/sites/default/files/2021-10/avnt-q3-2021-news-release.pdf
In addition, a recording of the audio will be available for one week, beginning at 11:00 a.m.
2) Tax adjustments include the net tax benefit/(expense) from one-time income tax items, the set-up or reversal of uncertain tax position reserves
and deferred income tax valuation allowance adjustments.
10
Attachment 4
Avient Corporation
Condensed Consolidated Balance Sheets
(In millions)
(Unaudited)
September 30, 2021
December 31,
2020
ASSETS
Current assets:
Cash and cash equivalents $ 545.2 $ 649.5
Accounts receivable, net 703.0 516.6
Inventories, net 477.2 327.5
Other current assets 123.5 108.5
Total current assets 1,848.9 1,602.1
Property, net 669.6 694.9
Goodwill 1,293.9 1,308.1
Intangible assets, net 948.4 1,008.5
Operating lease assets, net 81.6 80.9
Other non-current assets 168.6 176.0
Total assets $ 5,011.0 $ 4,870.5
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Short-term and current portion of long-term debt $ 8.7 $ 18.6
Accounts payable 557.7 471.7
Current operating lease obligations 24.1 25.1
Accrued expenses and other current liabilities 371.3 285.6
Total current liabilities 961.8 801.0
Non-current liabilities:
Long-term debt 1,851.0 1,854.0
Pension and other post-retirement benefits 111.0 115.0
Non-current operating lease obligations 57.7 56.0
Other non-current liabilities 244.1 332.8
Total non-current liabilities 2,263.8 2,357.8
SHAREHOLDERS' EQUITY
Avient shareholders’ equity 1,768.8 1,697.1
Noncontrolling interest 16.6 14.6
Total equity 1,785.4 1,711.7
Total liabilities and equity $ 5,011.0 $ 4,870.5
11
Attachment 5
Avient Corporation
Condensed Consolidated Statements of Cash Flows (Unaudited)
(In millions)
Nine Months Ended
September 30,
2021 2020
Operating Activities
Net income $ 201.7 $ 58.6
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization 105.8 74.8
Accelerated depreciation and amortization 1.9 2.5
Share-based compensation expense 8.4 7.1
Changes in assets and liabilities, net of the effect of acquisitions:
Increase in accounts receivable (199.7) (12.7)
(Increase) decrease in inventories (156.2) 53.0
Increase in accounts payable 95.3 21.3
Decrease in pension and other post-retirement benefits (14.2) (14.4)
Increase in post-acquisition earnout liabilities — 2.5
Increase in accrued expenses and other assets and liabilities, net 67.0 56.1
Taxes paid on gain on divestiture — (142.0)
Payment of post-acquisition date earnout liability — (38.1)
Net cash provided by operating activities 110.0 68.7
Investing activities
Capital expenditures (62.7) (38.6)
Business acquisitions, net of cash acquired (47.6) (1,342.7)
Net proceeds from divestiture — 7.1
Other investing activities (2.0) 5.2
Net cash used by investing activities (112.3) (1,369.0)
Financing activities
Debt offering proceeds — 650.0
Purchase of common shares for treasury (4.2) (13.6)
Cash dividends paid (58.2) (52.8)
Repayment of long-term debt (16.5) (6.0)
Payments of withholding tax on share awards (9.1) (1.9)
Debt financing costs — (9.5)
Equity offering proceeds, net of underwriting discount and issuance costs — 496.1
Payment of acquisition date earnout liability — (50.8)
Other financing activities (3.5) —
Net cash (used) provided by financing activities (91.5) 1,011.5
Effect of exchange rate changes on cash (10.5) 1.4
Decrease in cash and cash equivalents (104.3) (287.4)
Cash and cash equivalents at beginning of year 649.5 864.7
Cash and cash equivalents at end of period $ 545.2 $ 577.3
12
Attachment 6
Avient Corporation
Business Segment Operations (Unaudited)
(In millions)
Operating income and earnings before interest, taxes, depreciation and amortization (EBITDA) at the segment level does not
include: special items as defined in Attachment 3; corporate general and administration costs that are not allocated to segments;
intersegment sales and profit eliminations; share-based compensation costs; and certain other items that are not included in the
measure of segment profit and loss that is reported to and reviewed by the chief operating decision maker.