https://www.avient.com/sites/default/files/2024-03/2024 Proxy Statement_March.pdf
Safety and Health
The top priority at Avient is the safety and health of our associates, and our ultimate goal is to operate
injury free.
In preparing competitive market data for 2023, we drew from two independent sources.
The second independent source of data that we used to augment the peer proxy analysis was the
Consultant’s analysis of competitive market data relating to other applicable general industries.
https://www.avient.com/sites/default/files/2024-03/Terms and Conditions of Sale in Turkey.pdf
Seller warrants good
and clear title in goods subject to the sale
(“Product”) and that the Product conforms at the
time of shipment to a Certificate of Analysis, a
Certificate of Compliance, or a Product
Specification Sheet, if any such document exists,
and other specifications signed by Seller
(“Specifications”).
Buyer
acknowledges that information in Seller’s
marketing materials, technical data sheets and
other descriptive publications distributed or
published on its websites may vary from time to
time without notice.
Buyer acknowledges that Seller has
furnished to Buyer Safety Data Sheets, which
include warnings together with safety and health
information concerning the Product and/or the
containers for such Product.
https://www.avient.com/sites/default/files/2024-03/Terms and Conditions of Sale for the Kingdom of Saudi Arabia.pdf
Seller warrants good and clear title in
goods subject to the sale (“Product”) and that the Product conforms at the
time of shipment to a Certificate of Analysis, a Certificate of Compliance,
or a Product Specification Sheet, if any such document exists, and other
specifications signed by Seller (“Specifications”).
Buyer
acknowledges that information in Seller’s marketing materials, technical
data sheets and other descriptive publications distributed or published on
its websites may vary from time to time without notice.
Buyer acknowledges that Seller has furnished to
Buyer Safety Data Sheets, which include warnings together with safety and
health information concerning the Product and/or the containers for such
Product.
https://www.avient.com/sites/default/files/2024-12/Terms and Conditions of Sale for Guatemala %28English and Spanish Translation%29.pdf
Seller warrants
good and clear title in goods subject to the sale
(“Product”) and that the Product conforms at the
time of shipment to a Certificate of Analysis, a
Certificate of Compliance, or a Product
Specification Sheet, if any such document exists,
and other specifications signed by Seller
(“Specifications”).
Buyer
acknowledges that information in Seller’s
marketing materials, technical data sheets and
other descriptive publications distributed or
published on its websites may vary from time to
time without notice.
Buyer acknowledges
that Seller has furnished to Buyer Safety Data
Sheets, which include warnings together with
safety and health information concerning the
Product and/or the containers for such Product.
https://www.avient.com/sites/default/files/2025-03/2025 Proxy Statement.pdf
Safety and Health
A top priority at Avient is the safety and health of our employees, and our ultimate goal is to operate injury free.
The second independent source of data that we used to augment the peer proxy analysis was the Consultant’s
analysis of competitive market data relating to other applicable general industries.
Employee safety was measured through the percentage of
employees who participated in two safety activities during the year.
https://www.avient.com/sites/default/files/2025-02/News Release - AVNT-2024.12.31-News Release 2.12.25 2PM_0.pdf
Khandpur added, “In addition, our 2024 safety performance represented the safest year in
company history and evidenced that we’ll continue to build upon the many proven foundational
strengths of Avient as we execute our new strategy.”
2025 Outlook
“As we shared at our Investor Day in December, we laid out a path to grow organic sales 100 –
200 basis points above GDP with margin expansion by intersecting high growth markets and
secular trends with our technologies to create platforms that scale,” said Jamie Beggs, Senior
Vice President and Chief Financial Officer, Avient Corporation.
Rose
Vice President, Corporate Communications
Avient Corporation
+1 440-930-3162
kyle.rose@avient.com
7
Attachment 1
Avient Corporation
Summary of Condensed Consolidated Statements of Income (Unaudited)
(In millions, except per share data)
Three Months Ended
December 31,
Year Ended
December 31,
2024 2023 2024 2023
Sales $ 746.5 $ 719.0 $ 3,240.4 $ 3,142.8
Operating income 85.6 43.1 329.3 196.8
Net income from continuing operations attributable to Avient
shareholders 48.3 27.8 169.5 75.8
Diluted earnings per share from continuing operations attributable to
Avient shareholders $ 0.52 $ 0.30 $ 1.84 $ 0.83
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
December 31,
Year Ended
December 31,
2024 2023 2024 2023
Sales:
Color, Additives and Inks $ 467.7 $ 459.4 $ 2,046.5 $ 2,007.4
Specialty Engineered Materials 279.7 259.8 1,196.8 1,138.2
Corporate (0.9) (0.2) (2.9) (2.8)
Sales $ 746.5 $ 719.0 $ 3,240.4 $ 3,142.8
Gross margin:
Color, Additives and Inks $ 152.6 $ 148.3 $ 681.1 $ 631.2
Specialty Engineered Materials 84.2 78.1 374.9 341.8
Corporate 22.7 (17.5) 0.7 (80.5)
Gross margin $ 259.5 $ 208.9 $ 1,056.7 $ 892.5
Selling and administrative expense:
Color, Additives and Inks $ 92.8 $ 86.5 $ 384.9 $ 371.3
Specialty Engineered Materials 49.6 48.7 207.7 199.3
Corporate 31.5 30.6 134.8 125.1
Selling and administrative expense $ 173.9 $ 165.8 $ 727.4 $ 695.7
Operating income:
Color, Additives and Inks $ 59.8 $ 61.8 $ 296.2 $ 259.9
Specialty Engineered Materials 34.6 29.4 167.2 142.5
Corporate (8.8) (48.1) (134.1) (205.6)
Operating income $ 85.6 $ 43.1 $ 329.3 $ 196.8
Depreciation and amortization:
Color, Additives and Inks $ 21.9 $ 22.2 $ 87.5 $ 98.3
Specialty Engineered Materials 21.0 19.8 82.1 81.5
Corporate 2.5 2.2 10.1 9.0
Depreciation and amortization $ 45.4 $ 44.2 $ 179.7 $ 188.8
Earnings before interest, taxes, depreciation and
amortization (EBITDA):
Color, Additives and Inks $ 81.7 $ 84.0 $ 383.7 $ 358.2
Specialty Engineered Materials 55.6 49.2 249.3 224.0
Corporate (6.3) (45.9) (124.0) (196.6)
Other income, net 3.2 4.3 1.1 5.8
EBITDA from continuing operations $ 134.2 $ 91.6 $ 510.1 $ 391.4
Special items, before tax (23.9) 22.4 20.1 114.6
Interest expense included in special items — (0.1) (2.3) (2.3)
Depreciation and amortization included in special items (0.3) — (1.5) (1.9)
Adjusted EBITDA $ 110.0 $ 113.9 $ 526.4 $ 501.8
13
Attachment 7
Avient Corporation
Reconciliation of Non-GAAP Financial Measures (Unaudited)
(In millions, except per share data)
Senior management uses operating income before special items to assess performance and allocate resources because senior
management believes that this measure is most useful in understanding current profitability levels and how it may serve as a
basis for future performance.
https://www.avient.com/sites/default/files/2020-10/tpe-injection-molding-guide.pdf
Specific drying temperatures and
times can be found on the technical data sheets for each individual product.
If using a specialty overmolding grade, follow the
coloring recommendations given on the individual product technical data sheets.
The specific
starting conditions for each individual product are located in the product technical
data sheet.
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.
Global Compact &
fulfilled Communication of Progress (COP)
requirements
• New Sustainability Strategy overview page including
our 2022 AIP ESG metrics
• New ESG Performance page with ESG ratings,
awards, and certifications
• Increased disclosures on carbon emissions, including
disclosure of Climate Change Scenario Analysis
• Added new Product Stewardship and Chemical
Management policies
• Enhanced data reporting for Workforce
Demographics
• Improved social disclosures on human rights,
dependent care and special leave and strategic
training management
2021 SUSTAINABILITY REPORT
Launching integrated sustainability website in parallel with report
Aligned with leading reporting frameworks
6
Released July 2022
ESG RATINGS PERFORMANCE
ESG AWARDS AND CERTIFICATIONS
ESG PERFORMANCE & AWARDS
84th
3
1
2
7
T RAN S FO R MAT IO NAL
OVE RV IE W
Avient Protective
Dyneema
®
RECENT TRANSACTIONS
Acquired Divested
$1.45 B $0.95 B
9
Distribution
UPDATED CAPITAL STRUCTURE
& LIQUIDITY
• Proceeds from completed
sale of Distribution used to
pay near-term maturing debt
to strengthen balance sheet
• Fixed/floating debt ratio of
~55/45
• Proven track record of
deleveraging following major
acquisitions through strong
free cash flow generation
• 2022 pro forma net
debt/adjusted EBITDA
expected to be 3.1x
$725 $725
$575 $500
$600
$525
$650
$650
$600
Capital Structure
Cas
h
$544
Undr
awn
Rev
olve
r
$250
Liquidity
$3.15B
$2.40B
2030 Notes
2029 Term Loan
2026 Term Loan
2025 Notes
2023 Notes
After Dyneema
Acquisition
After Distribution
Divestiture
$794M
(1) $250M reflects estimated undrawn revolver following the divestiture of Distribution
10
PREVIOUS TRANSACTIONS
Performance
Solutions
Products &
$0.8 B
COLOR
$1.4 B
Acquired (2020)Divested (2019)
11
• 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
• $75 million of realized synergies anticipated in 2022
• Acquisition completed on July 1, 2020 for $1.45 billion.
OPS)
21
Sales Adjusted EBITDA
$818 $823
+ 1%
Adjusted EPS
+ 8% - 3%
(in millions) (in millions)
(+ 9% excluding FX) (+ 18% excluding FX) (+ 5% excluding FX)
Q3 EBITDA BRIDGE
(PRO FORMA TOTAL COMPANY)
22
Price increases more than
offset raw material and
supply chain impacts
$ millions
CAI:
Price / Mix 68
Inflation (44)
SEM:
Price / Mix 41
Inflation (26)
Net Price Benefit 39
Wage and Energy Inflation (14)
Clariant Color Integration Synergies 6
Incentives, Other Employee Costs 14
FX (11)
Q3 2022 $137
Adjusted
Q3 2021 $ 142
Demand (39)
Q3 2022 SEGMENT PERFORMANCE
23
CAI
$587
$566
Sales
$93 $93
SEM Pro Forma
$326 $319
Sales
$70
$62
(+ 4% excluding FX)
- 4% - 2%
(+ 5% excluding FX)
Flat
(+ 7% excluding FX)
- 11%
(- 7% excluding FX)
$500
$585
$2.60
$2.95
FULL YEAR 2022 GUIDANCE
24
Sales Adjusted EBITDA
$3,375
$3,635
Adjusted EPS
(in millions) (in millions)
25
SUMMARY
• Executed the plans we laid out earlier this year
• Completed the Dyneema acquisition and Distribution divestiture
amid challenging market conditions
• Paid down debt and expect to finish the year modestly levered at
3.1x net debt to 2022 pro forma adjusted EBITDA
• Expect $200 million of free cash flow in 2022
• Entering an economic slowdown with a portfolio that is better
positioned than ever before
• Updated our EPS guidance to $2.60 from continuing operations
APPENDIX
Performance
Additives
Pigments
TiO2
Dyestuffs
3%Polyethylene
12%
Nylon
Polypropylene
Other Raw
30%
Styrenic Block
Copolymer
~40% hydrocarbon based
(Grey shaded materials are hydrocarbon based,
includes portion of “Other Raw Materials”)
Non-hydrocarbon
based materials
27
• From Q2 to Q3, we have seen a 7-10%
sequential decline in certain
hydrocarbon-based raw materials
• Other raw materials such as
performance additives and pigments
have shown moderate inflation
sequentially from Q2 to Q3
Annual Purchases
RAW MATERIAL AND SUPPLY CHAIN UPDATE
Based on 2021 purchases, excludes Avient Protective Materials
SEGMENT DATA
U.S. & Canada
Latin America
2022 PRO FORMA SEGMENT, END MARKET AND GEOGRAPHY
GEOGRAPHY REVENUESEGMENT FINANCIALS
21%
Building and
END MARKET REVENUE
(1) Total company adjusted EBITDA of $585M includes corporate costs.
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.
Global Compact &
fulfilled Communication of Progress (COP)
requirements
• New Sustainability Strategy overview page including
our 2022 AIP ESG metrics
• New ESG Performance page with ESG ratings,
awards, and certifications
• Increased disclosures on carbon emissions, including
disclosure of Climate Change Scenario Analysis
• Added new Product Stewardship and Chemical
Management policies
• Enhanced data reporting for Workforce
Demographics
• Improved social disclosures on human rights,
dependent care and special leave and strategic
training management
2021 SUSTAINABILITY REPORT
Launching integrated sustainability website in parallel with report
Aligned with leading reporting frameworks
6
Released July 2022
ESG RATINGS PERFORMANCE
ESG AWARDS AND CERTIFICATIONS
ESG PERFORMANCE & AWARDS
84th
3
1
2
7
T RAN S FO R MAT IO NAL
OVE RV IE W
Avient Protective
Dyneema
®
RECENT TRANSACTIONS
Acquired Divested
$1.45 B $0.95 B
9
Distribution
UPDATED CAPITAL STRUCTURE
& LIQUIDITY
• Proceeds from completed
sale of Distribution used to
pay near-term maturing debt
to strengthen balance sheet
• Fixed/floating debt ratio of
~55/45
• Proven track record of
deleveraging following major
acquisitions through strong
free cash flow generation
• 2022 pro forma net
debt/adjusted EBITDA
expected to be 3.1x
$725 $725
$575 $500
$600
$525
$650
$650
$600
Capital Structure
Cash
$544
Undrawn
Revolver
$250
Liquidity
$3.15B
$2.40B
2030 Notes
2029 Term Loan
2026 Term Loan
2025 Notes
2023 Notes
After Dyneema
Acquisition
After Distribution
Divestiture
$794M
(1) $250M reflects estimated undrawn revolver following the divestiture of Distribution
10
PREVIOUS TRANSACTIONS
Performance
Solutions
Products &
$0.8 B
COLOR
$1.4 B
Acquired (2020)Divested (2019)
11
• 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
• $75 million of realized synergies anticipated in 2022
• Acquisition completed on July 1, 2020 for $1.45 billion.
OPS)
21
Sales Adjusted EBITDA
$818 $823
+ 1%
Adjusted EPS
+ 8% - 3%
(in millions) (in millions)
(+ 9% excluding FX) (+ 18% excluding FX) (+ 5% excluding FX)
Q3 EBITDA BRIDGE
(PRO FORMA TOTAL COMPANY)
22
Price increases more than
offset raw material and
supply chain impacts
$ millions
CAI:
68Price / Mix
(44)Inflation
SEM:
41Price / Mix
(26)Inflation
39Net Price Benefit
(14)Wage and Energy Inflation
6Clariant Color Integration Synergies
14Incentives, Other Employee Costs
(11)FX
$137 Q3 2022
Adjusted
$ 142Q3 2021
(39)Demand
Q3 2022 SEGMENT PERFORMANCE
23
CAI
$587
$566
Sales
$93 $93
SEM Pro Forma
$326 $319
Sales
$70
$62
(+ 4% excluding FX)
- 4% - 2%
(+ 5% excluding FX)
Flat
(+ 7% excluding FX)
- 11%
(- 7% excluding FX)
$500
$585
$2.60
$2.95
FULL YEAR 2022 GUIDANCE
24
Sales Adjusted EBITDA
$3,375
$3,635
Adjusted EPS
(in millions) (in millions)
25
SUMMARY
• Executed the plans we laid out earlier this year
• Completed the Dyneema acquisition and Distribution divestiture
amid challenging market conditions
• Paid down debt and expect to finish the year modestly levered at
3.1x net debt to 2022 pro forma adjusted EBITDA
• Expect $200 million of free cash flow in 2022
• Entering an economic slowdown with a portfolio that is better
positioned than ever before
• Updated our EPS guidance to $2.60 from continuing operations
APPENDIX
Performance
Additives
Pigments
TiO2
Dyestuffs
3%Polyethylene
12%
Nylon
Polypropylene
Other Raw
30%
Styrenic Block
Copolymer
~40% hydrocarbon based
(Grey shaded materials are hydrocarbon based,
includes portion of “Other Raw Materials”)
Non-hydrocarbon
based materials
27
• From Q2 to Q3, we have seen a 7-10%
sequential decline in certain
hydrocarbon-based raw materials
• Other raw materials such as
performance additives and pigments
have shown moderate inflation
sequentially from Q2 to Q3
Annual Purchases
RAW MATERIAL AND SUPPLY CHAIN UPDATE
Based on 2021 purchases, excludes Avient Protective Materials
SEGMENT DATA
U.S. & Canada
Latin America
2022 PRO FORMA SEGMENT, END MARKET AND GEOGRAPHY
GEOGRAPHY REVENUESEGMENT FINANCIALS
21%
Building and
END MARKET REVENUE
(1) Total company adjusted EBITDA of $585M includes corporate costs.
https://www.avient.com/sites/default/files/2023-06/AVNT June IR Conferences w_Non GAAP Recs.pdf
Continue fostering our Great Place
to Work® culture
Strategic ObjectivesStrategic Objectives
Long Term
Growth
Rates
Growth DriversGrowth Drivers
$340
$455
$790
$1,175
$51
$84
$212
$668
$108 $113
$231
$293
$265
$358
$726
$830
8-12% 10% 8-10% 5%
Sustainable Solutions Composites Healthcare Asia/Emerging Regions
Profitable GrowthProfitable Growth Great Place to WorkGreat Place to Work
5.4%
11.5%
16.2%
2006 2018 2022
EBITDA Margins
$0.14
$2.67
$3.04
2006 2018 2022
2022 data is pro forma for acquisition of Avient Protective Materials and Distribution divestiture
TOP-TIER SUSTAINABILITY PERFORMANCE
AND RECOGNITION
Industry Sustainability Standards
90th
percentile
84th
ESG Ratings Performance
1
Innovation is the lifeblood of a specialty company.
WHAT WE DO: WE ARE A FORMULATOR
6
CUSTOM
FORMULATION
M AY 3 , 2023
W EB CAS T
Keeping Safety First
o Relentless focus on best-in-class safety performance as an
ACC Responsible Care® organization
Exceeding Customer Expectations
o Complementary technologies and customer relationships offer
opportunity for future revenue synergies
o Proven innovation-led commercial strategy with strong brands
and participation across the full value chain
Collaboration in Innovation
o Leveraging Dyneema®, the world’s strongest fiber™, to
accelerate growth of sustainable, ultralight and high
performance applications
People – Culture is Everything
o Talented, passionate and collaborative associates drive an
effective integration strategy
o Strong Great Places to Work® scores reflect positive
integration efforts in first year
AVIENT PROTECTIVE MATERIALS INTEGRATION
8
AVIENT PROTECTIVE MATERIALS
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
50%
MARINE & SUSTAINABLE
INFRASTRUCTURE
Towing / Mooring • Aquaculture •
Floating Wind • Offshore Cranes
30%
CONSUMER
Consumer • Outdoor High Performance •
Safety Equipment
9
Figures reflect approximate proportions of 2022 sales
Q 1 P ER FO RM A N CE
Q1 2023 PERFORMANCE VS.
Avient 2011 and 2018 valuations reflect trailing 12 months EBITDA at December 31 of the respective years.
38
EV / 2023E EBITDA
Historic Multiple
6.5
8.3
9.6
13.2 13.0 12.8
11.3
8.6
17.9
16.8
10.7
8.8 8.8 8.7
7.5
6.9
01
1)
01
8)
02
3)
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.