https://www.avient.com/sites/default/files/2021-06/avient-ir-presentation-june-2021-w-non-gaap-recs_0.pdf
This
innovation drives performance and is
reflective of consistent, strategic
investments in our portfolio…and
people.
2020 Pro forma $991 $86
Sustainable Solutions 15 11% 6
Healthcare 28 22% 6
Composites 6 10% 3
Growth in Emerging Regions 44 30% 10
Other 53 10% 7
Sub-total $1,137 15% $118
FX Impact 25 - 2
Synergies - - 11
Incentives, Travel, Other Employee Costs - - (8)
2021 Actual $1,162 17% $123
Q1 2021 ORGANIC SALES AND OPERATING INCOME
18 (1) Financial information is pro forma to include a full year of Clariant Masterbatch business acquisition
Sales Growth Rate
Operating
Income$ millions
19
Wire & Cable Transportation Industrial Healthcare Packaging Consumer
Q1 2020PF Q1 2021
(2) Financial information is presented on a constant currency basis
(1,2)
(42% of total revenue)
(58% of total revenue)
Q1 END MARKET SALES PERFORMANCE
+17%
+14% +8%
+10%
+8% +22%
+5%
+24%
Q 2 AN D FU LL Y EA R
2021 O U TLO O K
A S O F A P R I L 3 0 , 2 0 2 1 W E B C A S T
$69
$112
$0.42
$0.80
ORGANIC GROWTH PROJECTIONS – Q2
21
Sales Adjusted Operating Income
$870
$1,100
+ 26%
+ 62% + 90%
(1) (1) (1)
(1) Financial information is pro forma to include a full year of Clariant Masterbatch business acquisition
FULL YEAR GUIDANCE INCREASED
22
Sales Adj.
Free cash flow conversion calculated as (EBITDA – Capex) / EBITDA
Median: 84% Median: 78%
HIGH FREE CASH FLOW
CONVERSION
Avient reflects 2021 estimated EBITDA of $560M and excludes one-time synergy capture CAPEX ($20M)
87
89 87 86
83 81
76
88 85 83 82 81 80 78 78 78 76
72 71 69
50
18
en
t
Total Enterprise Value / 2021E EBITDA
Our current valuation with updated
guidance implies an EBITDA multiple
that is below specialty formulator
peers and the majority of our
chemical peers.
https://www.avient.com/sites/default/files/resources/POL%2520IR%2520Presentation%2520-%2520Investor%2520Day%25205-18-15.pdf
Garratt
President, Performance Products and Solutions
PolyOne Corporation Page 48
2014 Revenue by
Industry Segment
2014 Revenues:
$0.8 Billion
At a Glance
Performance Products & Solutions
80%
14%
Latin
America
4%
Building &
33%
Electrical &
1%
11%
5% Transportation
18% Wire & Cable
16%
PolyOne Corporation Page 49
What We Have Delivered
4.3%
6.3%
7.2%
7.7%
2011 2012 2013 2014
Operating Margin
$28
$39
$56
$63
2011 2012 2013 2014
Operating Income ($M) •Relentless focus on
portfolio mix optimization
•Lean Six Sigma drives
operational excellence
• Innovating in new markets
such as healthcare
•Expanding presence in
Mexico and China
Performance Products & Solutions
PolyOne Corporation Page 50
$96
$109
2006* 2014
To Value
Gross Margin
($ in millions)
+13%
1,431
1,124
2006* 2014
From Volume…
(lbs in millions)
-21%
Performance Products & Solutions
*2006 = Near peak housing
PolyOne Corporation Page 51
Accelerating Growth
Market Growth/
Megatrends
Innovation
Collaboration
Geographic
Expansion
Performance Products & Solutions
PolyOne Corporation Page 52
Who We Are Growing With
Performance Products & Solutions
PolyOne Corporation Page 53
Geographic Growth Opportunities
Mexico represents growth,
spurred by:
• Robust demand in Automotive
• Re-shoring from Asia
• PolyOne collaboration
China is a $2B PVC market;
2nd largest in the world:
• A new tax license enables
domestic (vs. export) business
• We have expanded capacity
• We are investing in capability
Performance Products & Solutions
PolyOne Corporation Page 54
Addressable Market
($ millions) $300 $150 $200
Innovation Pipeline Potential
Performance Products & Solutions
Prototype Frame
Opportunity
Scale-up & Test
Market
Build
Business Case
Commercial
Launch
Phase 1 Phase 2 Phase 3 Phase 4 Phase 5
0
2
0
1
0
3
0 1 1
1
5
3
1
1
1
Breakthrough
Platform
Derivative
PolyOne Corporation Page 55
Megatrends Aligned with Key End Markets
Increasing
Energy
Efficiency
Protecting
the
Environment
Improving
Health and
Wellness
Megatrend End Markets
Globalizing
and
Localizing
Health &
Wellness
Transportation
Packaging
Consumer
Performance Products & Solutions
PolyOne Corporation Page 56
Healthcare Solutions
LED Lighting
Key Initiatives
Eco-Conscious
Solutions
$25M
Revenue
potential
$30M
Revenue
potential
$60M
Revenue
Potential
Performance Products & Solutions
PolyOne Corporation Page 57
Platinum Vision
4.3%
6.3%
7.2% 7.7%
10-12%
2011 2012 2013 2014 2020
Platinum
Vision
World Class Operating Margin
Accelerating Growth
Performance Products & Solutions
Market Growth/
Megatrends
Innovation Collaboration Geographic
Expansion
PolyOne Corporation Page 58
Summary
• Business evolution from volume to value
• Business is at an inflection point
• Growth will be driven by:
Economic & Megatrend alignment
Innovation
Collaboration across PolyOne
Geographic sales expansion in China and Mexico
Performance Products & Solutions
PolyOne Corporation Page 59
PolyOne Distribution
Mark Crist
President, Distribution
PolyOne Corporation Page 60
At a Glance
PolyOne Distribution
15%
52%
2006 2014
Key Suppliers 2014 Revenues: $1.1 Billion
ROIC
Building &
13%
Electrical &
23%
15%
4%
25%
http://www.avient.com/Pages/VariationRoot.aspx
PolyOne Corporation Page 61
What We Do
Processing Expertise
World-Class Supply Chain
Deep Customer Relationships
Market Consultation
Right the First Time… Every Time
PolyOne Corporation Page 62
What We Have Delivered
2.6%
3.5%
4.6%
6.4% 6.1%
2006 2008 2010 2012 2014
Operating Margin
$19
$28
$42
$66 $68
2006 2008 2010 2012 2014
Operating Income ($M) • World class supplier
line card
• Differentiating with
service and operational
excellence
• Key portfolio additions
with DuPont, Bayer
and Ineos
• Value based selling
and discipline
PolyOne Distribution
PolyOne Corporation Page 63
Accelerating Growth
PolyOne Distribution
Market Growth/
Megatrends
Commercial
Investment
Cross-Selling &
Collaboration
Growth in
Targeted Areas
PolyOne Corporation Page 64
Who We Are Growing With
PolyOne Distribution
PolyOne Corporation Page 65
Megatrends Aligned with Key End Markets
Increasing
Energy
Efficiency
Protecting
the
Environment
Improving
Health and
Wellness
Megatrend End Markets
Globalizing
and
Localizing
Health &
Wellness
Transportation
Packaging
Consumer
PolyOne Distribution
PolyOne Corporation Page 66
Geographic Growth Opportunities
• Currently 10% of POD’s revenue is
generated from Mexico
• Existing business is served “from
the border”
• New Mexico district & warehouse
will drive transportation growth in
Central Mexico
• Expansion in China resulted from
growing with our NA HC customers
• Investing in sales deployments
• Localizing supply
• Gaining Share
PolyOne Distribution
PolyOne Corporation Page 67
Going Beyond Distribution
WeatherTech® –
Polymer BumpStep®
BEDRUG™ – Tri-fold
Truck Bed Cover
CeQur PaQ – Type 2
Insulin Delivery Device
PolyOne Distribution
PolyOne Corporation Page 68
Platinum Vision
2.6%
4.6%
6.1%
6.5 - 7.5%
2006 2010 2014 2020
Platinum
Vision
World Class Distribution Margin
Accelerating Growth
PolyOne Distribution
Market Growth/
Megatrends
Commercial Investment Cross-Selling &
Collaboration
Growth in
Targeted Areas
PolyOne Corporation Page 69
Summary
• Motivated and well trained POD sellers
making the calls / collaborating with other
PolyOne businesses
• Representing a world class supplier line card
• Delighted customers and
suppliers who choose us
to represent them
PolyOne Distribution
PolyOne Corporation Page 70
Financial Highlights
Bradley C.
S&P 500
-100%
200%
300%
400%
500%
600%
POL S&P 500
PolyOne Corporation Page 85
Formula for Success
Innovation
Market
Beating
Performance
Excellence in Execution
PolyOne Corporation Page 86
Track Record of Successful Acquisitions
$12
$50
2007 2014
$22
$39
2012 2014
$24
$69
2012 2014
GLS ColorMatrix Spartech
OI in $ millions
PolyOne Corporation Page 87
Driving Toward Premier Profitability
EBIT Margins for top tier
companies
Victrex 41%
18% Albemarle
Eastman 17%
Hexcel 17%
FMC 16%
Ecolab 14%
12% Specialty EBIT Margin – 2014
IFF 19%
Celanese 13%
PolyOne Corporation Page 88
2006 2014 2020
“Where we were” “Where we are” Platinum Vision
Operating Income %
Specialty:
Global Color, Additives & Inks 1.7% 14.7% 20%+
Global Specialty Engineered Materials 1.1% 12.1% 20%+
Designed Structures & Solutions 1.4%(2012) 7.3% 12 – 14%
Performance Products & Solutions 5.5% 7.7% 10 – 12%
Distribution 2.6% 6.1% 6.5 – 7.5%
Specialty Platform % of
Operating Income 6.0% 65% 80%+
ROIC 5.0% 11.3% 15%
Adjusted EPS Growth N/A 37% Double Digit
Expansion
2020 Platinum Vision
PolyOne Corporation Page 89
Platinum Vision: Pathway to Accelerated Growth
Organic
Sales Growth
Margin
Expansion
Share
Repurchases
Acquisitions
PolyOne Corporation Page 90
2006 2010 2014 2020
Driving Toward a Premium Specialty Multiple
6x
4x
Commodity POL
8x
Hybrid
10x
14x+
Mid-Tier
Specialty
Premium
Specialty
M
ul
tip
le
POL
POL
POL
PolyOne Corporation Page 91
The New PolyOne: A Specialty Growth Company
Why Invest In PolyOne?
https://www.avient.com/sites/default/files/2023-05/AVNT Q1 2023 Earnings Presentation.pdf
Avient Specialty
Other Specialty /
2023E(%)
32
79
87
83 81
76
73
90
79 77 76
73
69
60
22
MULTIPLE EXPANSION
Avient Specialty
Other Specialty /
Note: Avient reflects 2023 adjusted EBITDA guidance of $530M and closing share price of $38.51.
https://www.avient.com/sites/default/files/2024-12/Terms and Conditions of Sale for Czech Republic.pdf
on execution of EC
regime for control of export, transport, intermediation and transit of
dual use goods, Act 69/2006 Coll., on execution of international
sanctions, Act 1/2023 Coll., on sanctions as well as all directly
applicable EU legislation (“Trade Control Laws”).
https://www.avient.com/sites/default/files/2025-05/AVNT May Investor Presentation_w_non-GAAP_0.pdf
EBITDA
73
69
• Flat sales (excl.
https://www.avient.com/sites/default/files/2021-09/avient2020sustainabilityreport-9-2-21.pdf
Guatemala City, Guatemala 69.
D
ll
(
$)
M
il
li
2017 2018 2019* 2020*
$69
*Pro Forma for the Clariant Masterbatch business
Sustainability Report | 2020 40Sustainability Report | 2020 40
No Surprises PledgeSM
At Avient, we are committed to helping you grow your business with safe and
environmentally sound solutions.
Sustainability Report | 2020 69
Photos:
1.
https://www.avient.com/sites/default/files/2024-08/Avient-2023-Sustainability-Report_5.pdf
Tangerang, Indonesia 69.
Electricity from Renewable Resources
62%
in 2023
60% 2030 GOAL
100% 2050 GOAL
69%
Performance—The Highest Ethical Standards; Ethics Hotline; Enterprise Risk Management Pages 68, 69, 70
Avient 2023 Annual Report—Form 10-K Pages 8–15
Operational Safety, Emergency Preparedness & Response
Process Safety Incidents Count (PSIC), Process Safety Total Incident
Rate (PSTIR), and Process Safety Incident Severity Rate (PSISR) RT-CH-540a.1
1.
https://www.avient.com/sites/default/files/2024-08/Avient 2023 Sustainability Report_6.pdf
Tangerang, Indonesia 69.
Electricity from Renewable Resources
62%
in 2023
60% 2030 GOAL
100% 2050 GOAL
69%
Performance—The Highest Ethical Standards; Ethics Hotline; Enterprise Risk Management Pages 68, 69, 70
Avient 2023 Annual Report—Form 10-K Pages 8–15
Operational Safety, Emergency Preparedness & Response
Process Safety Incidents Count (PSIC), Process Safety Total Incident
Rate (PSTIR), and Process Safety Incident Severity Rate (PSISR) RT-CH-540a.1
1.
https://www.avient.com/sites/default/files/resources/PolyOne%2520IR%2520Presentation%2520-%2520RW%2520Baird%25202015%2520Industrial%2520Conference%2520-%2520November%25202015.pdf
PolyOne Corporation Page 4
PolyOne Commodity to Specialty Transformation
• Volume driven,
commodity producer
• Heavily tied to
cyclical end markets
• Performance largely
dependent on non-
controlling joint
ventures
2000-2005 2006 - 2009 2010 – 2014 2015 and beyond
• Steve Newlin
appointed, Chairman,
President and CEO
• New leadership team
appointed
• Implementation of four
pillar strategy
• Focus on value based
selling, investment in
commercial resources
and innovation to drive
transformation
• Substantial EPS growth
from $0.13 to all-time
high of $1.80
• Shift to faster growing,
high margin, less
cyclical end markets
• Key acquisitions propel
current and future
growth, as well as
margin expansion
• Specialty mix expands
to 65% of Operating
Income – strongest mix
of earnings in history
• Accelerating growth
• Deliver consistent
double digit annual
EPS growth
• Maintain >35% vitality
index
• Pursue strategic
acquisitions that
expand specialty
offerings and
geographic breadth
• Invest and grow
current and next
generation talent
PolyOne Corporation Page 5
Building &
10%
Electrical &
11%
9%
Distribution
28%
PP&S
Specialty
52%
69%
13%
7% Asia
2014 Revenues: $3.8 Billion
End Markets
2014 Revenues: $3.8 Billion
PolyOne
At A Glance
$0.12
$0.27 $0.21 $0.13
$0.68
$0.82
$1.00
$1.31
$1.80
2006 2007 2008 2009 2010 2011 2012 2013 2014
Adjusted EPS
PolyOne Corporation Page 6
Old
PolyOne
*Operating Income excludes corporate charges and special items
2%
34% 43%
62%
65% 66%
0%
20%
40%
60%
80%
100%
2005 2008 2010 2013 2014 YTD 2015 2020
%
o
f O
pe
ra
tin
g
In
co
m
e*
JV's Performance Products & Solutions Distribution Specialty
80%+
Specialty OI $5M $46M $87M $195M $242M $183M
Mix Shift Highlights Specialty Transformation
Transformation
2020
Platinum
Vision
Platinum
Vision
PolyOne Corporation Page 7
Confirmation of Our Strategy
Specialization Globalization
Operational
Excellence
Commercial
Excellence
Driven by our core values of Collaboration, Innovation and Excellence, we are the
world’s premier provider of specialized polymer materials, services and solutions
PolyOne Corporation Page 8
2006 YTD 2015 2020
“Where we were” “Where we are” Platinum Vision
1) Operating Income %
Specialty:
Global Color, Additives & Inks 1.7% 17.2% 20%+
Global Specialty Engineered
Materials 1.1% 15.1% 20%+
Designed Structures & Solutions 1.4% (2012) 3.5% 12 – 14%
Performance Products &
Solutions 5.5% 8.1% 10 – 12%
Distribution 2.6% 6.6% 6.5 – 7.5%
2) Specialty Platform % of
Operating Income 6.0% 66% 80%+
3) ROIC 5.0% 11.9% 15%
4) Adjusted EPS Growth N/A
24 Consecutive
Quarters of YOY
EPS Growth
Double Digit
Expansion
Proof of Performance & 2020 Goals
PolyOne Corporation Page 9
Innovation Drives Earnings Growth
*Percentage of Specialty Platform revenue from products introduced in last five years
$20
$52
2006 TTM
Research & Development
Spending
($ millions)
Specialty Platform
Vitality Index Progression*
14%
28%
2006 TTM
Specialty Platform
Gross Margin %
12%
43%
2006 TTM
Specialty Vitality Index Target ≥ 35%
TTM 9/30/15 TTM 9/30/15 TTM 9/30/15
PolyOne Corporation Page 10
Innovation Pipeline Potential
Prototype Frame
Opportunity
Scale-up & Test
Market
Build
Business Case
Commercial
Launch
Phase 1 Phase 2 Phase 3 Phase 4 Phase 5
12
4
9
6
1
6
3 7 4
5
6
1
1
7
2
Breakthrough
Platform
Derivative
Number of Projects 12 10 23 19 10 74
Specialty
Addressable Market
($ millions)
- - $1,150 $1,000 $250 $2,400
PolyOne Corporation Page 11
Lightweighting with Advanced Composites
Increasing Healthcare Penetration
Innovation Initiatives
Expansion in Consumer Markets
New Market Development
$$$ $$ $
High Temperature Polymers
PolyOne Corporation Page 12
Design and Service as a Differentiator
Right Material &
Color
Desired
Product Design
Appropriate
Manufacturing Process
Delivering Concept to
Commercialization
Connecting
the Dots with
iQ Design Labs and
InVisiO Color Design
PolyOne Corporation Page 13
Customer First Through World-Class Service
Strengthening relationships through:
Providing LSS services to small/medium sized customers
• Supporting customers who lack their own formal process improvement initiatives
Providing training in Customer Centric Selling Skills with customers’
sales force
PolyOne Corporation Page 14
60%
97%
20%
30%
40%
50%
60%
70%
80%
90%
100%
2008 Q3 2015
Pension Funding**
As of September 30, 2015
Debt Maturities & Pension Funding
Net Debt / Adjusted EBITDA** = 2.1x
$49
$121
$317
$600
$400
$0
$100
$200
$300
$400
$500
$600
$700
$800
2015 2018 2020 2023
Debt Maturities
As of September 30, 2015
($ millions)
Coupon Rate: 7.500% Variable* 7.375% 5.250%
** includes US-qualified pension plans only *Weighted average rate on revolver was 2.49% as of 9/30/15 **TTM 9/30/2015
PolyOne Corporation Page 15
Free Cash Flow and Strong Balance Sheet
Fund Investment / Shareholder Return
Expanding our sales,
marketing, and
technical capabilities
Investing in operational
and LSS initiatives
~75% of capital
expenditures fund
growth initiatives Organic
Growth
Acquisitions
Share
Repurchases
Dividends
$0.16
$0.20
$0.32
$0.40
$0.48
$0.10
$0.20
$0.30
$0.40
$0.50
2011 2012 2013 2014 2015 2016
Annual Dividend
Targets that expand
our:
• Specialty offerings
• End market
presence
• Geographic breadth
Synergy opportunities
Adjacent material
solutions
Repurchased nearly
2.4 million shares in Q3
2015
Repurchased 14.8
million shares since
early 2013
5.2 million shares are
available for
repurchase under the
current authorization
$0.24
PolyOne Corporation Page 16
The New PolyOne: A Specialty Growth Company
Why Invest In PolyOne?
https://www.avient.com/sites/default/files/2022-03/AVNT Mar 2022 Presentation.pdf
Free cash flow conversion calculated as (EBITDA – Capex) / EBITDA
HIGH FREE CASH FLOW
CONVERSION
Avient reflects 2021 estimated EBITDA of $635M and estimated CAPEX of $90M (excludes IT system upgrade of $25M and synergy capture CAPEX of $20M)
Source: Peer data per Bloomberg market data as of February 15, 2022
86 89
85
80
76 76
89
85
79 78 76 76 76
70 69
63
8
LB
Source: Peer data per Bloomberg market data as of February 15, 2022
Total Enterprise Value / 2022E EBITDAWith the Clariant Color business
acquisition and divestment of the
PP&S business, our exposure is
now concentrated in less-cyclical
and high-growth markets.