Avient 2024 Investor Day

Mixing systems provide more accurate color over mixing and matching standard inks because the mixing system components are created with single pigments. This system commonly includes 15 single pigment inks for mixing colors.

Investor Day G L O B A L H I G H Y I E L D & L E V E R A G E D F I N A N C E C O N F E R E N C E F E B R U A R Y 2 0 2 0 F O R W A R D L O O K I N G S T A T E M E N T S PolyOne Corporation 2 In this presentation, statements that are not reported financial results or other historical information are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Leverage PolyOne’s global reach Phase 1 Phase 2 Phase 3 18-20% operating margins Invest in commercial resources I N V E S T - T O - G R O W P R O O F O F P E R F O R M A N C E PolyOne Corporation 24 Commercial Resources Operating Income ($ in millions) Operating Margins 256 309 At Acquisition Today $36 $100 At Acquisition Today 9% 19% At Acquisition Today Established Acquisitions (> 7 years) + 20% + 165% + 1000 bps C L A R I A N T M A S T E R B A T C H A C Q U I S I T I O N D R I V E S N E X T L E V E L S P E C I A L T Y T R A N S F O R M A T I O N A C C E L E R A T I N G G R O W T H W I T H S U S T A I N A B L E S O L U T I O N S T R A N S F O R M A T I O N H E A D L I N E S PolyOne Corporation 26 F I T W I T H F O U R P I L L A R S T R A T E G Y PolyOne Corporation 27 Specialization • Innovation-led organization with heavy emphasis on R&D • World-class expertise in color formulation • Strong presence in specialty end markets including Consumer, Packaging and Healthcare Globalization • Diverse geographic portfolio with an established presence in every major region • Expands PolyOne’s ability to serve customers in key growth areas including India, China and Southeast Asia Operational Excellence • Extensive manufacturing footprint with 46 facilities • Organizational focus on optimizing supply chain to better serve customers • Color design expertise Commercial Excellence • Value-focused salesforce with vast experience marketing and commercializing specialty technologies • Diverse customer portfolio with established OEM’s People Experienced and talented associates with a winning mentality E N D M A R K E T T R A N S F O R M A T I O N PolyOne Corporation 28 Building & Construction 5% 2006 2019E PF* 4% 12% 10% 18% 8% 20% 2006 2019E PF* Healthcare Consumer Packaging 50% 22% High Growth End Markets Percentage of Total Revenue 38% * 2019E Pro Forma for PP&S Divestiture and Clariant Masterbatch business E N D M A R K E T T R A N S F O R M A T I O N PolyOne Corporation 29 Packaging 8% Building & Construction 38% Wire & Cable 11% Industrial 10% Electrical & Electronic 7% 2006 2019E PF* Healthcare 4% Transportation 12% Consumer 18% Building & Construction 5% Wire & Cable 6% Industrial 12% Electrical & Electronic 5% Appliance 3% Textiles 6% Transportation 13% Healthcare 12% Packaging 20% Consumer 10% * 2019E Pro Forma for PP&S Divestiture and Clariant Masterbatch business C O M P L E M E N T A R Y G E O G R A P H I C P R E S E N C E PolyOne Corporation 30 United States 38% Europe 33% Asia 19% Canada 4% Latin America 6% United States 22% Europe & Middle East 48% Asia 23% Canada 1% Latin America 6% Color & Engineered Materials Clariant Masterbatch Business Net Sales by Geographic Region United States 31% Europe & Middle East 39% Asia 21% Canada 3% Latin America 6% Pro Forma Color & Engineered Materials U N I F I E D F O C U S O N S U S T A I N A B I L I T Y PolyOne Corporation 31 2006 - 2013 2013 – 2019 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 PolyOne Clariant Masterbatch Business • Building mini-recycling plants to facilitate customer projects on design for recycling - CycleWorks • Uses packaging additives & colorants to improve recyclability and enhance automated sorting • Manufactures oxygen scavengers to extend shelf-life of perishable items and reduce material requirements • Combines UV-blocking additive colorants & other barriers to prevent spoilage and waste • Offers spin-dyeing solutions that use significantly less water than traditional methods, allowing for sustainable coloration of textiles • Produces infrared absorbing additives that reduce energy requirements for bottle manufacturing ($ in millions) PolyOne (Continuing Operations) Clariant Color & Additive Masterbatch Business Synergies New PolyOne 2019 Total Sales $2,863 $1,150 $4,013 2019 Adjusted EBITDA $309 $130 $60 $499 % Margin 10.8% 11.3% 12.4% 2019 CapEx $68 $85 % Sales 2.4% 2.1% 2019 Free Cash Flow $161 $250 2019 Adjusted EPS $1.69 $2.22 2019 PF Adjusted EPS $1.69 $2.54 P O L Y O N E + C L A R I A N T M A S T E R B A T C H B U S I N E S S PolyOne Corporation 32 (1) Excludes step-up of depreciation & amortization related to purchase accounting of transaction (1) $0.85/share O V E R 8 5 % O F A D J U S T E D E B I T D A F R O M S P E C I A L T Y PolyOne Corporation 33 46% 66% 0% 20% 40% 60% 80% 100% 2005 2010 2015 2019E PF % o f A d ju s te d E B IT D A * JV's Performance Products & Solutions Distribution Specialty 7% 87% * Adjusted EBITDA is EBITDA excluding corporate costs and special items ** 2019E Pro Forma for PP&S Divestiture and Clariant Masterbatch business acquisition with synergies Specialty EBITDA $14M $117M $273M $500M ** T R A N S A C T I O N O V E R V I E W • Expected mid-2020, subject to regulatory approvals and customary closing conditions Closing Conditions / Timing • Committed financing in place • Permanent financing to be combination of available cash on-hand, new debt and equity component to limit leverage • Equity issuance of $500MM • Target net leverage below 3.5x, 3.1x synergized PolyOne Corporation 36 • $1.45 B net purchase price • Represents 11.1x adjusted EBITDA (excluding synergies), 7.6x adjusted EBITDA (including synergies) • Pre-tax synergies of $60MM expected to be fully realized by the end of 2023 • Synergies realized from sourcing, operational, technology / commercial, and general administrative Transaction Value Synergies Financing Estimated Synergy Breakdown $60MM • Expect EBITDA synergies of $60MM – Proven integration expertise with a decade of acquisition experience – Administrative synergies reflect reduction of duplicative internal and third-party costs • Run rate synergies of $20MM by the end of Year 1 with $60MM achieved by the end of Year 3 • Significant additional opportunity for geographical expansion – Clariant Masterbatch business has complementary regional presence in key growth areas including India & Southeast Asia • Opportunity to accelerate growth with a combined portfolio of innovative solutions aligned with sustainability megatrends Sourcing 40% Operational 30% Administrative 30% PolyOne Corporation 37 S I G N I F I C A N T S Y N E R G Y O P P O R T U N I T I E S $450 $600 $624 $743 2019 2020 2021 2022 2023 2024 2025 2026 A T T R A C T I V E F I N A N C I N G S T R U C T U R E Attractive Debt Maturity Profile Existing Revolver Existing Senior Notes Existing Term Loan B New Debt Financing Financing Summary Terms on New Debt • $465 million of cash from the balance sheet expected to fund a portion of the purchase price • Bridge financing for remainder fully committed from Citi, Morgan Stanley and Wells Fargo • Permanent financing expected to include a combination of long-term debt and new equity • The timing of the permanent financing is subject to a number of factors, including, but not limited to, market conditions • PolyOne is committed to preserving a strong balance sheet – Target net leverage at close below 3.5x, excluding synergies • Pro forma capital structure positions PolyOne with flexibility to pursue continued growth strategy • New financing expected to have same or better covenant package than existing capital structure • Capital structure would be “covenant lite” Capital Policy • Transaction in line with PolyOne’s disciplined capital allocation policy • Existing PolyOne dividend policy to be maintained • Focus on deleveraging in the near term 2028+ PolyOne Corporation 38 PolyOne Corporation 37 $0.16 $0.20 $0.24 $0.32 $0.40 $0.48 $0.54 $0.70 $0.78 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Cumulative Share Repurchases (In millions) $0 $150 $300 $450 $600 $750 $900 2011 2012 2013 2014 2015 2016 2017 2018 2019 $917M R E T U R N I N G C A S H T O S H A R E H O L D E R S O V E R $ 1 . 2 B I L L I O N S I N C E 2 0 1 1 PolyOne Corporation Increasing Annual Dividend 38 $0.81 PolyOne Corporation 39 W H Y I N V E S T I N P O L Y O N E ?

Partner, Jones Day (a global law firm) from 2006 to 2007. Associate, Jones Day from August 1995 to January 2006. Common collective funds are valued at the net asset value of units held by the fund at year end.

Single Pigment Dispersions and custom color concentrates  Possibility to combine colorants and additives into a single combination masterbatch The Remafin Fiber Colorants for PP portfolio includes single dispersion and custom color masterbatches in pellet form.

Partner, Jones Day (a global law firm) from January 2006 to February 2007. Associate, Jones Day from August 1995 to January 2006. These investments may include funds of multiple asset investment strategies and funds of hedge funds.

lang=En&n=FD9B0E51-1 https://ec.ss.ec.gc.ca/auth/en/Services about:/ about:/ about:/ General Information Substance List CAS RN Substance Name Releases Releases (Speciated VOCs) Disposals Recycling Unit NA ­ 01 Antimony (and its compounds) 0.0004 N/A N/A N/A tonnes NA ­ 02 Arsenic (and its compounds) 0.0007 N/A N/A N/A kg 103­23­1 Bis(2­ethylhexyl) adipate 0.0106 N/A N/A N/A tonnes 117­81­7 Bis(2­ethylhexyl) phthalate 0.0283 N/A N/A N/A tonnes 85­68­7 Butyl benzyl phthalate 0.0008 N/A N/A N/A tonnes NA ­ 14 Zinc (and its compounds) 0.0000 N/A N/A 0.0002 tonnes Applicable Programs CAS RN Substance Name NPRI ON MOE TRA ON MOE Reg 127/01 First report for  this substance to  the ON MOE TRA NA ­ 01 Antimony (and its compounds) Yes NA ­ 02 Arsenic (and its compounds) Yes 103­23­1 Bis(2­ethylhexyl) adipate Yes 117­81­7 Bis(2­ethylhexyl) phthalate Yes 85­68­7 Butyl benzyl phthalate Yes NA ­ 14 Zinc (and its compounds) Yes Position: EHS Manager Telephone: 5192150535 Email: brian.greer@polyone.com Contact Type Certifying Official Name: Najat Kamal Position: EHSQ specialist Telephone: 5148089920 Email: najat.kamal@polyone.com Number of employees: 45 Activities for Which the 20,000­Hour Employee Threshold Does Not Apply: None of the above Activities Relevant to Reporting Dioxins, Furans and Hexacholorobenzene: None of the above Activities Relevant to Reporting of Polycyclic Aromatic Hydrocarbons (PAHs): Wood preservation using creosote: No Is this the first time the facility is reporting to the NPRI (under current or past ownership): No Is the facility controlled by another Canadian company or companies: No Did the facility report under other environmental regulations or permits: No Is the facility required to report one or more NPRI Part 4 substances (Criteria Air Contaminants): No Was the facility shut down for more than one week during the year: No Operating Schedule ­ Days of the Week: Mon, Tue, Wed, Thu, Fri Usual Number of Operating Hours per day: 24 Usual Daily Start Time (24h) (hh:mm): 00:00 General Information about the Substance ­ Releases and Transfers of the Substance CAS RN Substance Name Was the substance released on­site The substance will be reported as the sum of releases to all media (total of 1 tonne or less) 1 tonne or more of a Part 5 Substance (Speciated VOC) was released to air NA ­ 01 Antimony (and its compounds) Yes Yes No NA ­ 02 Arsenic (and its compounds) Yes No No 103­23­1 Bis(2­ethylhexyl) adipate Yes Yes No 117­81­7 Bis(2­ethylhexyl) phthalate Yes Yes No 85­68­7 Butyl benzyl phthalate Yes Yes No NA ­ 14 Zinc (and its compounds) Yes No No General Information about the Substance ­ Disposals and Off­site Transfers for Recycling CAS RN Substance Name Was the substance disposed of (on­site or off­ site), or transferred for treatment prior to final disposal Is the facility required to report on disposals of tailings and waste rock for the selected reporting period Was the substance transferred off­site for recycling NA ­ 01 Antimony (and its compounds) No No No NA ­ 02 Arsenic (and its compounds) No No No 103­23­1 Bis(2­ ethylhexyl) adipate No No No 117­81­7 Bis(2­ ethylhexyl) phthalate No No No 85­68­7 Butyl benzyl phthalate No No No NA ­ 14 Zinc (and its compounds) Yes No No General Information about the Substance ­ Nature of Activities CAS RN Substance Name Manufacture the Substance Process the Substance Otherwise Use of the Substance NA ­ 01 Antimony (and its compounds) For on­site use/processing As a reactant As a by­product NA ­ 02 Arsenic (and its compounds) For on­site use/processing As a reactant As a by­product 103­23­1 Bis(2­ethylhexyl) adipate For on­site use/processing As a reactant As a by­product 117­81­7 Bis(2­ethylhexyl) phthalate For on­site use/processing As a reactant As a by­product 85­68­7 Butyl benzyl phthalate For on­site use/processing As a reactant As a by­product NA ­ 14 Zinc (and its compounds) For on­site use/processing As a reactant As a by­product On­site Releases ­ Releases to air CAS RN Substance Name Category Basis of Estimate Detail Code Quantity NA ­ 02 Arsenic (and its compounds) Stack or Point Releases O ­ Engineering Estimates 0.0000 kg NA ­ 14 Zinc (and its compounds) Stack or Point Releases O ­ Engineering Estimates 0.0000 tonnes On­site Releases ­ Releases to air ­ Total CAS RN Substance Name Total ­ Releases to Air NA ­ 02 Arsenic (and its compounds) 0.0000 kg NA ­ 14 Zinc (and its compounds) 0.0000 tonnes On­site Releases ­ Releases to land CAS RN Substance Name Category Basis of Estimate Detail Code Quantity NA ­ 02 Arsenic (and its compounds) Other O ­ Engineering Estimates 0.0007 kg Onsite Releases ­ Nature of Other Land Release CAS RN Substance Name Nature of Other Land Release NA ­ 02 Arsenic (and its compounds) Landfill disposal CAS RN Substance Name Nature of Other Land Release On­site Releases ­ Releases to land ­ Total CAS RN Substance Name Total ­ Releases to Land NA ­ 02 Arsenic (and its compounds) 0.0007 kg Total Quantity Released (All Media) CAS RN Substance Name Category Basis of Estimate Detail Code Quantity NA ­ 01 Antimony (and its compounds) Total Quantity Released O ­ Engineering Estimates 0.0004 tonnes 103­23­1 Bis(2­ethylhexyl) adipate Total Quantity Released O ­ Engineering Estimates 0.0106 tonnes 117­81­7 Bis(2­ethylhexyl) phthalate Total Quantity Released O ­ Engineering Estimates 0.0283 tonnes 85­68­7 Butyl benzyl phthalate Total Quantity Released O ­ Engineering Estimates 0.0008 tonnes On­site Releases ­ Total CAS RN Substance Name Total releases NA ­ 02 Arsenic (and its compounds) 0.0007 kg NA ­ 14 Zinc (and its compounds) 0.0000 tonnes On­site Releases ­ Quarterly Breakdown of Annual Releases CAS RN Substance Name Quarter 1 Quarter 2 Quarter 3 Quarter 4 NA ­ 01 Antimony (and its compounds) 25 25 25 25 NA ­ 02 Arsenic (and its compounds) 25 25 25 25 103­23­1 Bis(2­ethylhexyl) adipate 25 25 25 25 117­81­7 Bis(2­ethylhexyl) phthalate 25 25 25 25 85­68­7 Butyl benzyl phthalate 25 25 25 25 On­site Releases ­ Reasons for Changes in Quantities Released from Previous Year CAS RN Substance Name Reasons for Changes in Quantities from Previous Year Comments 103­23­1 Bis(2­ethylhexyl) adipate No significant change (i.e.  The data for the facility(ies) that I represent are hereby submitted to the programs identified below using the Single Window Reporting Application.

For added convenience, they can be combined with color into a single concentrate.

Use of a single catheter for both intravenous and X-ray procedures, resulting in fewer needle sticks to improve patient comfort

With the most recent addition of TPE production, PolyOne enables manufacturers to source all of their specialty polymer requirements from a single domestic source.