https://www.avient.com/sites/default/files/resources/Proxy%2520Statement%2520for%2520Web%2520Hosting.pd_.pdf
Wulfsohn Qualifications, Attributes, Skills and Experience:
ADVISORY VOTE
PROPOSAL 2 — ADVISORY VOTE TO APPROVE NAMED
EXECUTIVE OFFICER COMPENSATION
Objective How Our Executive Compensation Program Achieves this Objective
Our Board recommends a vote FOR Proposal 2 to
approve, on an advisory basis, our Named Executive Officer compensation.
Independent Registered Public Accountant Services and Related Fee Arrangements
Report of the Audit Committee
The Audit Committee of
the Board of Directors
Director Independence
Lead Director
Board Leadership Structure
Board’s Oversight of Risk
Code of Ethics, Code of Conduct and Corporate Governance Guidelines
Communication with Board
Board and Committees
Board Attendance
Board Committees
AAudit Committee – Primary Responsibilities and Requirements
MEETINGS IN 2018: 9
Compensation Committee – Primary Responsibilities and Requirements
MEETINGS IN 2018: 5
MEMBERS:
Nominating and Governance Committee – Primary Responsibilities and
Requirements
MEETINGS IN 2018: 4
Environmental, Health and Safety Committee – Primary Responsibilities and
Requirements
MEETINGS IN 2018: 3
Board Refreshment
0%
20%
40%
60%
80%
100%
5 or fewer 6 to 10 More than 10
Years of Service
NON-EMPLOYEE DIRECTOR COMPENSATION
2018 NON-EMPLOYEE DIRECTOR COMPENSATION
Role Annual Cash Retainers
2018 Director Compensation Table
Fees Earned or Paid in Cash
Stock Awards
Total
(1)
NON-EMPLOYEE DIRECTOR COMPENSATION
Fees Earned or Paid in Cash (column (a))
Stock Awards (column (b))
Option Awards Outstanding and Fully-Vested Deferred Shares
Number of Deferred Shares(1)
Beneficial Ownership of Our Common Shares
Owned(1)
Right to Acquire
Shares
Total Beneficial
Ownership
Name and Address
Shares
%
of Shares
Stock Ownership Guidelines for Non-Employee Directors
Section 16(a) Beneficial Ownership Reporting Compliance
Executive Summary
Name Title
How Pay is Tied to Company Performance.
Requests for copies of such Annual Report on Form 10-K or for information on how to obtain directions to be
able to attend the Annual Meeting and vote in person should be directed to: PolyOne Center, 33587 Walker
Road, Avon Lake, Ohio 44012, Attention: Secretary.
https://www.avient.com/sites/default/files/resources/PDI_Healthcare_Brochure_2011_0.pdf
Equipment Benefi t
Scanning Electron Microscopy with
Energy Dispersive X-ray System
Capability to look at material and property defects at the most detailed level
with magnifi cation up to 800,000x
Digital Optical Microscope Ability to non-destructively capture fully-focused images with a
depth-of-fi eld 20x larger than conventional microscopes
Microwave Sample Digestion System Aids in sample preparation for heavy metal analysis
Mechanical Spectrometer Estimates how a medical device will structurally perform when subjected to
the load within a human body
Differential Scanning Calorimeter Analyzes the transition temperatures of materials and also determines the
purity of the materials to predict likelihood of defects
Chromatography Accessories Facilitates compositional analysis of materials and devices as well as the
ability to analyze extractables
Copyright © 2011, Polymer Diagnostics Inc.
We’ll tell you how your product will perform—and why
Our experts work hand-in-hand with your technical staff to answer the most
diffi cult questions—Why did your product fail?
We’ll tell you how your product will perform—and why
Our experts work hand-in-hand with your technical staff to answer the most
diffi cult questions—Why did your product fail?
https://www.avient.com/sites/default/files/2025-03/380605_AVIENT_2024AR_full_250325.pdf
At the same time, we strategically adjusted and
deployed our commercial teams to capitalize on
regional opportunities—winning share and gaining
new business with customers.
We’ve enhanced our leadership team with
a new Chief Technology Officer, SVP of New Business
Development & Marketing Excellence, SVP and General
Counsel, and Chief Information Officer, all with proven track
records and expertise in their respective fields.
We globally
reorganized personnel in our businesses to improve
customer experience, as well as in our technology teams to
amplify innovation.
https://www.avient.com/sites/default/files/2021-06/avient-ir-presentation-may-2021-w-non-gaap-recs.pdf
WHY AVIENT WINS
Deep Customer Relationships
& Application Know-How
Superior Design Capabilities
& Advanced Analytics
Global Footprint Strategically
Aligned to Serve Customers
We iterate fast and often.
38 22
9
34
• U.S. and Canada
• Latin America
• Europe, Middle East & Africa
• Asia
We produce locally, serve globally.
At Avient, we’ve built a culture of winning and how we do so is unique, lasting and
difficult to replicate.
We estimate in excess of $50 million dollars of new application sales by 2025, exclusively generated from the joining of our portfolios and technology teams.
https://www.avient.com/sites/default/files/2022-05/AVNT May IR Presentation w Non GAAP Recs.pdf
FX)
$429
$490
$3.05
$3.50
FY 2022 PERFORMANCE
16
$4,819
$5,100
+ 6%
(+ 8% excluding FX)
Adjusted EPS
+ 14%
(+ 17% excluding FX)
+ 15%
(+ 18% excluding FX)
(in millions) (in millions)
Sales Adjusted Operating Income
17
CASH FLOW / LEVERAGE
($ millions) 2022E
Cash Flow from Operating Activities 400$
Less:
Run-Rate CapEx (90)
CapEx for Clariant Integration (10)
CapEx for IT System Upgrade (15)
Total CapEx (115)
Free Cash Flow 285$
Adjusted EBITDA 635$
Net Debt / Adjusted EBITDA 1.7x
DYN E E MA ACQ U I S I T I O N
19
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
20
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
21 Figures reflect 2022 expected sales
MIFOverview Competition Valuechain &
Go-to-market Strategy Innovation Financials
TECHNOLOGY
22
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
23
• 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
24
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
25
• 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
26
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
27
AVIENT’S COMPOSITES PORTFOLIO
SALES AND EBITDA
28
$74 $84
$216 $212
$261
$5 $10
$32
$41
$49
$180
0
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®
DISTRIBUTION DIVESTITURE
CONSIDERATIONS
DISTRIBUTION HIGHLIGHTS
30
$21
$57
$69
$94
$105
0
100
150
2006 2011 2016 2021 2022E
• Leading North American Distribution business with
longstanding blue-chip supplier and customer
relationships
• Commercial excellence and regulatory knowledge have
grown healthcare portfolio to over 25% of sales and
positioned business for long-term growth
• Highly specialized portfolio of engineered polymers along
with sustainable solution offerings
• Leading digital capabilities through Avient Now, allowing
enhanced visibility and 24/7 interface with customers
• 98% free cash flow conversion drives greater than 30%
after-tax return on invested capital (ROIC)
• Potential divestiture allows us to remain modestly
leveraged with net debt to adjusted EBITDA expected to
be 2.9x and positions us for further specialty growth in the
future
EBITDA (in $M)
DYNEEMA® TRANSACTION OVERVIEW
31
- $1.48B net purchase price
- Represents 11.4x expected 2022 EBITDA
- Committed financing in place
- Permanent financing to be combination of available cash on-hand, new
Senior Unsecured Notes, new Senior Secured Term Loan
- Potential proceeds from Distribution divestment could be used to pay down
near-term maturing debt
- Closing expected in second half of 2022, subject to regulatory
approvals and certain customary closing conditions
Transaction
Value
Financing
Closing
Conditions /
Timing
CAPITAL STRUCTURE / LEVERAGE
32
• Financing commitments secured from Morgan Stanley
and J.P.
Purchase price multiple rapidly declining on strength of
business and synergy capture
(1) Financial information is pro forma to include a full year of Clariant Color acquisition
11.9%
16.2%
2019PF 2021
EBITDA Margins
SPECIALTY TRANSFORMATION
46%
66%
86%
100%
0%
40%
60%
80%
100%
2005 2010 2015 2021 2022 PF
%
o
f A
dj
us
te
d
EB
IT
D
A(1
)
JVs Distribution Performance Products & Solutions Specialty
(1) Adjusted EBITDA is EBITDA excluding corporate costs and special items
(2) Pro forma for the acquisition of Dyneema® and potential divestiture of Distribution
(2)
38
CULTURE AND PEOPLE
39
OUR SPECIALTY JOURNEY CONTINUES
40
• Dyneema® brings leading technology and brand with the World’s
Strongest Fiber™, deep history of application development and
strong management team focused on specialty applications
• Dyneema® transaction is aligned with our previously stated acquisition
goal of expanding our composites and fiber capabilities
• Similar to our other technology expansion acquisitions, Dyneema®
allows us to leverage our invest-to-grow strategy
• We plan to explore a possible sale of our Distribution business.
Senior management also uses 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/2022-05/DOC 1879.pdf
How many years has Avient been
supplying service in these
technologies?
Yes
How is the suitability, adequacy and
effectiveness of the QMS determined?
Yes
How are incoming raw materials controlled for
quality?
https://www.avient.com/sites/default/files/2024-04/Adventure Camping_Case Study Snapshot_v3.pdf
ADVENTURE CAMPER
MANUFACTURER
W A L L & F L O O R P A N E L S
• Ability to customize the face sheet structure, core material,
and thickness to meet performance requirements
• Lightweight, high strength-to-weight ratio compared to
wood and aluminum
• UV, chemical, and moisture resistant
• Custom formulated the panel construction to meet
lightweight, durability, and insulation requirements
• Avient engineering team provided on-going
material sampling and technical support
throughout the development cycle
• Ensured the face sheet structure provided a
smooth surface finish and good adherence to
paint or aluminum fixtures
Polystrand™ Thermoplastic Composite
Sandwich Panels
KEY REQUIREMENTS
WHY AVIENT?
https://www.avient.com/sites/default/files/2023-08/Bergamid Polymer Formulations - Military Helmet - Case Study Snapshot.pdf
SAFETY EQUIPMENT
MANUFACTURER
M I L I T A R Y H E L M E T P A R T S
• High impact resistance
• RAL 6031 – military green color
• High molecular weight
• Met impact resistance requirements for
military helmets
• Delivered strong collaboration with Avient
Design team and service
• Provided specific RAL color matching for
military application
Bergamid™ Polymer Formulations
KEY REQUIREMENTS
WHY AVIENT?
https://www.avient.com/sites/default/files/2020-12/onflex-s-ke-oscillating-sprinkler.pdf
LEADING GARDEN
TOOLS BRAND
O S C I L L A T I N G S P R I N K L E R S
• Superior abrasion resistance performance
• Ability to pass standard UV testing as well as the
customer’s more stringent UV criteria
• Global support and material availability
• Developed a customized TPE material with
superior UV resistance, adhesion to ABS,
and demolding
• Leveraged in-house UV chamber tests to
exceed UV parameter requirements
• Worked closely with customer’s product
development, engineering and quality teams
to test and specify material
• Supplied grade globally with local technical
and manufacturing support
OnFlex™ S KE Thermoplastic Elastomer
KEY REQUIREMENTS
WHY AVIENT?
https://www.avient.com/sites/default/files/2022-07/Versaflex-coffee machine seal-Application snapshot.pdf
SMALL APPLIANCE
OEM
C O F F E E M A C H I N E S E A L
• Soft durometers
• Good bonding to ABS
• Good flowability for easy processing
• Excellent sealing property
• Formulated a 30 Shore A TPE with excellent
peel force performance to meet the sealing
requirements
• Offered a short lead time and on-site technical
service to speed up the time to market
• Provided fast global collaboration between
regions, supporting the brand’s design team in
Europe and molders in Asia
Custom VersaflexTM Formulation
KEY REQUIREMENTS
WHY AVIENT?