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Strong past performance demonstrates that our
strategy and execution are working
• Megatrends align with our strengths
• Innovation and services provide differentiation
and competitive advantage
• Strong and proven management team driving
growth and performance
• Addressable market exceeds $40 billion
The New PolyOne: A Specialty Growth Company
2015 Target: $2.50 Adjusted EPS
Page 16
Schedule I
Reconciliation of Non-GAAP Financial Measures (Unaudited)
(Dollars in millions, except per share data)
Below is a reconciliation of non-GAAP financial measures to the most directly comparable measures
calculated and presented in accordance with U.S.
https://www.avient.com/sites/default/files/resources/dB%2520June%2520Presentation%2520June%252012%25202013%2520%25282%2529.pdf
Strong past performance demonstrates that our
strategy and execution are working
• Megatrends align with our strengths
• Innovation and services provide differentiation
and competitive advantage
• Strong and proven management team driving
growth and performance
• Addressable market exceeds $40 billion
The New PolyOne: A Specialty Growth Company
2015 Target: $2.50 Adjusted EPS
Page 15
Schedule I
Reconciliation of Non-GAAP Financial Measures (Unaudited)
(Dollars in millions, except per share data)
Below is a reconciliation of non-GAAP financial measures to the most directly comparable measures
calculated and presented in accordance with U.S.
https://www.avient.com/sites/default/files/2023-11/AVNT Q3 2023 Earnings Presentation - Website.pdf
PRIOR YEAR
$790
$710
2022 2023
$107
$112
2022 2023
Sales Adjusted EBITDA
$0.42
$0.47
2022 PF 2023
Adjusted EPS
- 10% + 5% + 12%
Sales Adjusted EBITDA Adjusted EPS
12
$112
$500
$0.47
$2.30
Q4 AND FULL YEAR 2023 GUIDANCE
$710
$3,130
Sales Adjusted EBITDA Adjusted EPS
13
(in millions) (in millions)
Guidance: Free Cash Flow
$180 $180
Prior Guidance Guidance
FREE CASH FLOW & INCREASED DIVIDEND
13th Consecutive Dividend Increase
0.16
0.26
0.42
0.58
0.79
0.85
0.99
1.03
2011 2013 2015 2017 2019 2021 2023 2024
14
S U S TAI NABI L I T Y DAY
RE CAP
SUSTAINABILITY AS A GROWTH DRIVERLONG-TERM REVENUE GROWTH DRIVERS
60%+
Key Growth
Drivers
Sustainable
Solutions
Composites, Healthcare,
Asia / LATAM
Overlap
Other
(GDP Growth)
Total Company Revenue
Growth Drivers Long-Term
Growth Rate
Sustainable Solutions 8–12%
Composites 8–10%
Healthcare 8–10%
Asia / LATAM 5%
Other (GDP growth) 0–2%
Avient 6%
17
SUSTAINABILITY TRENDS DRIVE LONG-TERM GROWTH
8-12%
Long Term
Growth
50
90
2022 2030
Medical Plastics
Market Size
(in $Billions)
2020 2030
Recycled
Plastics
Virgin
Plastics
Growing Demand
for Recycled
Content
Avient Sustainable
Solutions
18
46
2023 2032
Global Offshore Annual
Wind Installations
(in Gigawatts)
Sources: McKinsey, Bloomberg, Grand View Research
SUSTAINABILITY TRENDS DRIVE
LONG-TERM GROWTH
18
• Transformative acquisitions
combined with divestitures of
more cyclical businesses have
improved margins over 400 bps
since 2018
• 20% long-term margin goal to
be driven by key growth drivers,
with sustainable solutions
playing a meaningful role
5.4%
11.5%
16.0%
2006 2018 2023E Recovery Growth
Drivers
Strategic
Objective
20%+
+1%+
+3%+
ADJUSTED EBITDA MARGIN EXPANSION
19
• 6% annualized long-term sales growth leveraging
sustainable solutions, composites, healthcare, and
emerging regions
• Expand EBITDA margins to 20%
• Deliver annual EBITDA and EPS growth of
10% and 15%
• Maintain asset-light, 80% free cash flow conversion
profile and be valued as a specialty formulator
• Continue fostering our Great Place to Work® culture
CREATING A WORLD-CLASS
SUSTAINABLE ORGANIZATION
20
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.
https://www.avient.com/sites/default/files/2025-02/Avient Investor Presentation - February 2025_w_Non-GAAP.pdf
Specialty Engineered Materials
END MARKETS REGIONS
17%
14%13%
Defense
Packaging
Telecom
54%
33%
US & Canada
Europe,
Middle East
Energy
Copyright © .
2025 26
Avient 2024 regional sales, by end market
US & CANADA
41% of sales
EMEA
35% of sales
ASIA
18% of sales
LATIN AMERICA
6% of sales
22%
Packaging TelecomEnergyDefenseHealthcareBuilding &
TransportationIndustrialConsumer
26%
16%
31%
26%
1%1% 2%
61%
Copyright © .
2025 27
NON-HYDROCARBON
MATERIALS
HYDROCARBON-BASED
~35% of the raw material basket
including part of “Other raw materials”
are hydrocarbon-based
Raw material basket
16%
4% 4%
Performance
additives
Pigments
TiO2
Dyestuffs
Styrenic block
copolymers
Polypropylene
Nylon
Polyethylene
Other raw
materials
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.
https://www.avient.com/sites/default/files/2021-04/avnt-first-quarter-2021-news-release.pdf
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
Condensed Consolidated Balance Sheets
(Unaudited)
March 31, 2021
2020
ASSETS
Current assets:
Cash and cash equivalents $ 594.5 $ 649.5
Accounts receivable, net 642.2 516.6
Inventories, net 357.0 327.5
Other current assets 122.7 108.5
Total current assets 1,716.4 1,602.1
Property, net 675.5 694.9
Goodwill 1,281.9 1,308.1
Intangible assets, net 973.3 1,008.5
Operating lease assets, net 80.9 80.9
Other non-current assets 181.4 176.0
Total assets $ 4,909.4 $ 4,870.5
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Short-term and current portion of long-term debt $ 18.8 $ 18.6
Accounts payable 529.6 471.7
Current operating lease obligations 24.3 25.1
Accrued expenses and other current liabilities 290.9 285.6
Total current liabilities 863.6 801.0
Non-current liabilities:
Long-term debt 1,852.7 1,854.0
Pension and other post-retirement benefits 111.3 115.0
Non-current operating lease obligations 56.8 56.0
Other non-current liabilities 303.0 332.8
Total non-current liabilities 2,323.8 2,357.8
SHAREHOLDERS' EQUITY
Avient shareholders’ equity 1,707.0 1,697.1
Noncontrolling interest 15.0 14.6
Total equity 1,722.0 1,711.7
Total liabilities and equity $ 4,909.4 $ 4,870.5
10
Attachment 5
Condensed Consolidated Statements of Cash Flows (Unaudited)
March 31,
2021 2020
Operating Activities
Net income $ 79.7 $ 32.8
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization 36.6 19.9
Accelerated depreciation and amortization 0.5 —
Share-based compensation expense 2.7 2.1
Changes in assets and liabilities, net of the effect of acquisitions:
Increase in accounts receivable (137.6) (56.9)
Increase in inventories (35.1) (13.0)
Increase in accounts payable 67.3 44.6
Decrease in pension and other post-retirement benefits (7.1) (3.2)
Increase in post-acquisition earnout liabilities — 1.0
Decrease in accrued expenses and other assets and liabilities, net (3.4) (19.1)
Payment of post-acquisition date earnout liability — (21.0)
Net cash provided (used) by operating activities 3.6 (12.8)
Investing activities
Capital expenditures (16.5) (11.1)
Net proceeds from divestiture — 7.1
Net proceeds (used) provided by other assets (2.0) 5.2
Net cash (used) provided by investing activities (18.5) 1.2
Financing activities
Purchase of common shares for treasury (4.2) (13.6)
Cash dividends paid (19.5) (15.6)
Repayment of long-term debt (2.3) (2.0)
Payments of withholding tax on share awards (3.1) (1.3)
Equity offering proceeds, net of underwriting discount and issuance costs — 496.3
Payment of acquisition date earnout liability — (32.9)
Net cash (used) provided by financing activities (29.1) 430.9
Effect of exchange rate changes on cash (11.0) (3.8)
(Decrease) increase in cash and cash equivalents (55.0) 415.5
Cash and cash equivalents at beginning of year 649.5 864.7
Cash and cash equivalents at end of period $ 594.5 $ 1,280.2
11
Attachment 6
Business Segment Operations (Unaudited)
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.
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