https://www.avient.com/sites/default/files/2024-02/AVNT Q4 2023 Earnings Press Release.pdf
A recording of the webcast and the slide presentation will be available at
avient.com/investors/events-presentations immediately following the conference call and will be
accessible for one year.
Three Months Ended
December 31,
2023 2022
Reconciliation to Condensed Consolidated Statements of Income $ EPS(1) $ EPS(1)
Net income (loss) from continuing operations attributable to Avient
shareholders $ 27.8 $ 0.30 $ (17.0) $ (0.19)
Special items, after tax (Attachment 3) 5.4 0.06 38.3 0.42
Amortization expense, after-tax 15.0 0.16 14.6 0.16
Adjusted net income / EPS $ 48.2 $ 0.52 $ 35.9 $ 0.39
(1) Per share amounts may not recalculate from figures presented herein due to rounding
Year Ended
December 31,
2023 2022
Reconciliation to Condensed Consolidated Statements of Income $ EPS(1) $ EPS(1)
Net income from continuing operations attributable to Avient shareholders $ 75.8 $ 0.83 $ 82.8 $ 0.90
Special items, after tax (Attachment 3) 79.3 0.86 116.2 1.26
Amortization expense, after-tax 61.5 0.67 49.0 0.53
Adjusted net income / EPS $ 216.6 $ 2.36 $ 248.0 $ 2.69
(1) Per share amounts may not recalculate from figures presented herein due to rounding
7
Attachment 2
Avient Corporation
Condensed Consolidated Statements of Income (Unaudited)
(In millions, except per share data)
Three Months Ended
December 31,
Year Ended
December 31,
2023 2022 2023 2022
Sales $ 719.0 $ 790.4 $ 3,142.8 $ 3,396.9
Cost of sales 510.1 618.4 2,250.3 2,514.2
Gross margin 208.9 172.0 892.5 882.7
Selling and administrative expense 165.8 171.6 695.7 639.4
Operating income 43.1 0.4 196.8 243.3
Interest expense, net (26.8) (49.4) (115.3) (119.8)
Other income (expense), net 4.3 (28.4) 5.8 (59.7)
Income (loss) from continuing operations before income taxes 20.6 (77.4) 87.3 63.8
Income tax benefit (expense) 7.0 60.8 (11.0) 19.3
Net income (loss) from continuing operations 27.6 (16.6) 76.3 83.1
Income (loss) from discontinued operations, net of income taxes 0.8 561.5 (0.1) 620.3
Net income 28.4 544.9 76.2 703.4
Net loss (income) attributable to noncontrolling interests 0.2 (0.4) (0.5) (0.3)
Net income attributable to Avient common shareholders $ 28.6 $ 544.5 $ 75.7 $ 703.1
Earnings (loss) per share attributable to Avient common shareholders - Basic:
Continuing operations $ 0.30 $ (0.19) $ 0.83 $ 0.91
Discontinued operations 0.01 6.17 — 6.80
Total $ 0.31 $ 5.98 $ 0.83 $ 7.71
Earnings (loss) per share attributable to Avient common shareholders - Diluted:
Continuing operations $ 0.30 $ (0.19) $ 0.83 $ 0.90
Discontinued operations 0.01 6.17 — 6.73
Total $ 0.31 $ 5.98 $ 0.83 $ 7.63
Cash dividends declared per share of common stock $ 0.2575 $ 0.2475 $ 1.0000 $ 0.9600
Weighted-average shares used to compute earnings per common share:
Basic 91.2 91.0 91.1 91.2
Diluted 91.9 91.0 91.8 92.2
8
Attachment 3
Avient Corporation
Summary of Special Items (Unaudited)
(In millions, except per share data)
Special items (1)
Three Months Ended
December 31,
Year Ended
December 31,
2023 2022 2023 2022
Cost of sales:
Restructuring costs, including accelerated depreciation $ (2.0) $ (21.3) $ (11.9) $ (31.1)
Environmental remediation costs (17.2) (0.4) (69.7) (24.2)
Reimbursement of previously incurred environmental costs 1.6 — 1.6 8.3
Acquisition related costs — (23.8) — (34.1)
Impact on cost of sales (17.6) (45.5) (80.0) (81.1)
Selling and administrative expense:
Restructuring and employee separation costs (1.1) (4.3) (14.9) (5.3)
Legal and other (6.1) (4.0) (15.2) (3.0)
Acquisition related costs (1.3) (6.1) (5.9) (19.3)
Impact on selling and administrative expense (8.5) (14.4) (36.0) (27.6)
Impact on operating income (26.1) (59.9) (116.0) (108.7)
Interest expense, net - financing costs (0.1) (16.0) (2.3) (26.0)
Mark-to-market on derivatives — — — (30.9)
Pension and post retirement mark-to-market adjustment and other 3.8 (28.4) 3.7 (28.4)
Impact on other income (expense), net 3.8 (28.4) 3.7 (59.3)
Impact on income from continuing operations before income taxes (22.4) (104.3) (114.6) (194.0)
Income tax benefit on above special items 4.5 26.8 27.7 49.4
Tax adjustments(2) 12.5 39.2 7.6 28.4
Impact of special items on net income from continuing operations $ (5.4) $ (38.3) $ (79.3) $ (116.2)
Diluted earnings per common share impact $ (0.06) $ (0.42) $ (0.86) $ (1.26)
Weighted average shares used to compute adjusted earnings per share:
Diluted 91.9 91.7 91.8 92.2
(1) Special items include charges related to specific strategic initiatives or financial restructuring such as: consolidation of operations; debt
extinguishment costs; costs incurred directly in relation to acquisitions or divestitures; employee separation costs resulting from personnel
reduction programs, plant realignment costs, executive separation agreements; asset impairments; settlement gains or losses and mark-to-
market adjustments associated with gains and losses on pension and other post-retirement benefit plans; environmental remediation costs,
fines, penalties and related insurance recoveries related to facilities no longer owned or closed in prior years; gains and losses on the
divestiture of operating businesses, gains and losses on facility or property sales or disposals; results of litigation, fines or penalties, where
such litigation (or action relating to the fines or penalties) arose prior to the commencement of the performance period; one-time, non-
recurring items; and the effect of changes in accounting principles or other such laws or provisions affecting reported results
2) Tax adjustments include the net tax impact from non-recurring income tax items, adjustments to uncertain tax position reserves and the
establishment, reversal or changes to valuation allowances.
9
Special items (1)
Three Months Ended
March 31,
2023
Cost of sales:
Restructuring costs, including accelerated depreciation $ (6.6)
Environmental remediation costs (1.4)
Impact on cost of sales (8.0)
Selling and administrative expense:
Restructuring and employee separation costs (11.3)
Legal and other (4.4)
Acquisition related costs (3.4)
Impact on selling and administrative expense (19.1)
Impact on operating income (27.1)
Other loss (0.2)
Impact on income from continuing operations before income taxes (27.3)
Income tax expense on above special items 6.9
Tax adjustments(2) (1.9)
Impact of special items on net income from continuing operations $ (22.3)
Diluted earnings per common share impact $ (0.24)
Weighted average shares used to compute adjusted earnings per share:
Diluted 91.8
(1) Special items include charges related to specific strategic initiatives or financial restructuring such as: consolidation of operations; debt
extinguishment costs; costs incurred directly in relation to acquisitions or divestitures; employee separation costs resulting from personnel
reduction programs, plant realignment costs, executive separation agreements; asset impairments; settlement gains or losses and mark-to-
market adjustments associated with gains and losses on pension and other post-retirement benefit plans; environmental remediation costs,
fines, penalties and related insurance recoveries related to facilities no longer owned or closed in prior years; gains and losses on the
divestiture of operating businesses, gains and losses on facility or property sales or disposals; results of litigation, fines or penalties, where
such litigation (or action relating to the fines or penalties) arose prior to the commencement of the performance period; one-time, non-
recurring items; and the effect of changes in accounting principles or other such laws or provisions affecting reported results
https://www.avient.com/sites/default/files/resources/PolyOne%2520IR%2520Presentation%2520-%2520Morgan%2520Stanley%2520Global%2520Chemicals%2520and%2520Agriculture%2520Conference%2520-%252011%253A15%253A2016.pdf
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POLYONE CORPORATION 25
2015 Revenue: $0.7 Billion
At a Glance: Performance Products & Solutions
2015 Revenue by Industry Expanding Profits
5.5%
6.9%
3.8% 3.6%
5.5%
4.3%
6.3% 7.2% 7.7%
8.3%
12-14%
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
YTD
2020
Operating Income % of Sales
Platinum
Vision
11.6%
B & C
31%
Transportation
19%
W & C
16%
Industrial
13% Appliances
7%
Consumer
5%
Packaging
5%
E & E
3%
Healthcare
1%
United
States
79%
Canada
14%
Latin
America
5%
Asia
2%
Key Applications
POLYONE CORPORATION 26
2015 Revenue: $1.0 Billion
At a Glance: Distribution
Key Suppliers
ROIC Expanding Profits
2.6%
3.0%
3.5%
4.0%
4.6%
5.6%
6.4%
5.9% 6.1%
6.6%
6.5-7.5%
6.6%
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
YTD
2020
Operating Income % of Sales
Platinum
Vision
15%
53%
2006 3Q 2016
Transportation
24%
Healthcare
23%
Industrial
16%
Consumer
13%
E & E
6%
Appliances
6%
W & C
4%
Packaging
4%
B & C
4%
http://www.avient.com/Pages/VariationRoot.aspx
27 POLYONE CORPORATION
Application Examples
POLYONE CORPORATION 28
Luxury Packaging
with Gravitech Density Modified Polymers
Impart weight, sound and
metallic finish to caps and
closures for cosmetics and
spirits applications
Elevate quality and prestige
perceptions among high-end
consumers
Eliminate time and cost
associated with secondary
operations and assembly
POLYONE CORPORATION 29
Medical Device Housings
with Chemically Resistant Engineered Polymers
Durable, long-lasting
products stand up to the
most aggressive disinfectants
Minimize environmental
stress cracking and
discoloration
One of the broadest
medically approved polymer
and colorant portfolios
POLYONE CORPORATION 30
Printed Circuit Boards
with Thermally Conductive Polymers
Replaces metal by etching
circuit designs into thermally
conductive plastic
Maintains heat transfer and
cooling capabilities of metals
Reduces both weight and cost
Increases the lifetime and
reliability of electronic systems
POLYONE CORPORATION 31
Color & Design Services
Greater control of color development
and supply chain
Work across entire design process
from concept to commercialization
Inspire creativity in the use of
polymer materials, colors
and effects
Innovative brand differentiation
Faster development timelines
POLYONE CORPORATION 32
Outdoor Applications
Leading provider of high performance
specialty materials for the recreational
and sports & leisure industry
Well positioned across all segments to
address market needs
Metal to Polymer Conversion
Lightweighting
Thermal Management
Impact Performance
Source: Outdoor Industry Association
POLYONE CORPORATION 33
Fiber Colorants
Solutions for clothing, apparel, footwear, automotive & sporting goods
ColorMatrix Fiber Colorant Solutions
Proprietary advanced liquid color
formulations and equipment enable
greater efficiency and productivity
Eliminates aqueous dyeing and its
associated wastewater treatment
Solid Color Concentrates
Extrusion-spun fibers colored via
solid masterbatch
POLYONE CORPORATION 34
Improve performance and reduce
cost through light-weighting,
reduced waste, faster cycle times
and extended shelf life
Aligned with megatrend of facing
climate and resource challenges:
Sustainability benefits include
lower package weight and
improved recyclability of
package at end of use
Shelf-life
extension
Greater product
consistency
Recyclability and
reduced carbon
footprint
Color and Special
Effects
Weight reduction
Enhanced product
aesthetics
High heat
resistance
Preservative Technology
POLYONE CORPORATION 35
Metal Replacement Solutions
Replaces metal in LED lighting
Extends LED durability and life
span eliminating hot spots
Greater design flexibility with
fewer parts
Weight reduction
Simplifies manufacturing and
lowers total production cost
POLYONE CORPORATION 36
High-Barrier Packaging Containers
Capability to extrude up to 13
layers
Strong oxygen and moisture vapor
transmission protection
Can be made symmetrical or
asymmetrical to meet customized
needs of broad variety of
applications
Barrier protection and superior
sensory properties
1
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.
Special items include charges related to specific strategic initiatives or financial restructuring such as: consolidation of operations; debt extinguishment costs; costs incurred directly in relation to
acquisitions or divestitures; employee separation costs resulting from personnel reduction programs, plant phase-in costs, executive separation agreements; asset impairments; mark-to-market adjustments associated with actuarial gains and losses on pension and other post-retirement benefit
plans; environmental remediation costs, fines, penalties and related insurance recoveries related to facilities no longer owned or closed in prior years; gains and losses on the divestiture of operating businesses, joint ventures and equity investments; gains and losses on facility or property sales
or disposals; results of litigation, fines or penalties, where such litigation (or action relating to the fines or penalties) arose prior to the commencement of the performance period; one-time, non-recurring items; the effect of changes in accounting principles or other such laws or provisions
affecting reported results; and tax adjustments.
Tax adjustments include the net tax expense/benefit from one-time income tax items, the set-up or reversal of uncertain tax position reserves and deferred income tax valuation allowance adjustments.
https://www.avient.com/sites/default/files/resources/PolyOne%2520IR%2520Presentation%2520-%2520RW%2520Baird%2520Global%2520Industrial%2520Conference%2520-%252011%253A8%253A2016.pdf
sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&uact=8&ved=0CAcQjRw&url=http://www.mullerquaker.com/products/greek100/greek100-peach-and-passion-fruit&ei=-acYVZq7EIqwyASDjYL4CA&bvm=bv.89381419,d.cWc&psig=AFQjCNGNCQY1_dCN2RPLzxtap_Pu0omTXQ&ust=1427765484498432
POLYONE CORPORATION 25
2015 Revenue: $0.7 Billion
At a Glance: Performance Products & Solutions
2015 Revenue by Industry Expanding Profits
5.5%
6.9%
3.8% 3.6%
5.5%
4.3%
6.3% 7.2% 7.7%
8.3%
12-14%
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
YTD
2020
Operating Income % of Sales
Platinum
Vision
11.6%
B & C
31%
Transportation
19%
W & C
16%
Industrial
13% Appliances
7%
Consumer
5%
Packaging
5%
E & E
3%
Healthcare
1%
United
States
79%
Canada
14%
Latin
America
5%
Asia
2%
Key Applications
POLYONE CORPORATION 26
2015 Revenue: $1.0 Billion
At a Glance: Distribution
Key Suppliers
ROIC Expanding Profits
2.6%
3.0%
3.5%
4.0%
4.6%
5.6%
6.4%
5.9% 6.1%
6.6%
6.5-7.5%
6.6%
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
YTD
2020
Operating Income % of Sales
Platinum
Vision
15%
53%
2006 3Q 2016
Transportation
24%
Healthcare
23%
Industrial
16%
Consumer
13%
E & E
6%
Appliances
6%
W & C
4%
Packaging
4%
B & C
4%
http://www.avient.com/Pages/VariationRoot.aspx
27 POLYONE CORPORATION
Application Examples
POLYONE CORPORATION 28
Luxury Packaging
with Gravitech Density Modified Polymers
Impart weight, sound and
metallic finish to caps and
closures for cosmetics and
spirits applications
Elevate quality and prestige
perceptions among high-end
consumers
Eliminate time and cost
associated with secondary
operations and assembly
POLYONE CORPORATION 29
Medical Device Housings
with Chemically Resistant Engineered Polymers
Durable, long-lasting
products stand up to the
most aggressive disinfectants
Minimize environmental
stress cracking and
discoloration
One of the broadest
medically approved polymer
and colorant portfolios
POLYONE CORPORATION 30
Printed Circuit Boards
with Thermally Conductive Polymers
Replaces metal by etching
circuit designs into thermally
conductive plastic
Maintains heat transfer and
cooling capabilities of metals
Reduces both weight and cost
Increases the lifetime and
reliability of electronic systems
POLYONE CORPORATION 31
Color & Design Services
Greater control of color development
and supply chain
Work across entire design process
from concept to commercialization
Inspire creativity in the use of
polymer materials, colors
and effects
Innovative brand differentiation
Faster development timelines
POLYONE CORPORATION 32
Outdoor Applications
Leading provider of high performance
specialty materials for the recreational
and sports & leisure industry
Well positioned across all segments to
address market needs
Metal to Polymer Conversion
Lightweighting
Thermal Management
Impact Performance
Source: Outdoor Industry Association
POLYONE CORPORATION 33
Fiber Colorants
Solutions for clothing, apparel, footwear, automotive & sporting goods
ColorMatrix Fiber Colorant Solutions
Proprietary advanced liquid color
formulations and equipment enable
greater efficiency and productivity
Eliminates aqueous dyeing and its
associated wastewater treatment
Solid Color Concentrates
Extrusion-spun fibers colored via
solid masterbatch
POLYONE CORPORATION 34
Improve performance and reduce
cost through light-weighting,
reduced waste, faster cycle times
and extended shelf life
Aligned with megatrend of facing
climate and resource challenges:
Sustainability benefits include
lower package weight and
improved recyclability of
package at end of use
Shelf-life
extension
Greater product
consistency
Recyclability and
reduced carbon
footprint
Color and Special
Effects
Weight reduction
Enhanced product
aesthetics
High heat
resistance
Preservative Technology
POLYONE CORPORATION 35
Metal Replacement Solutions
Replaces metal in LED lighting
Extends LED durability and life
span eliminating hot spots
Greater design flexibility with
fewer parts
Weight reduction
Simplifies manufacturing and
lowers total production cost
POLYONE CORPORATION 36
High-Barrier Packaging Containers
Capability to extrude up to 13
layers
Strong oxygen and moisture vapor
transmission protection
Can be made symmetrical or
asymmetrical to meet customized
needs of broad variety of
applications
Barrier protection and superior
sensory properties
1
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.
Special items include charges related to specific strategic initiatives or financial restructuring such as: consolidation of operations; debt extinguishment costs; costs incurred directly in relation to
acquisitions or divestitures; employee separation costs resulting from personnel reduction programs, plant phase-in costs, executive separation agreements; asset impairments; mark-to-market adjustments associated with actuarial gains and losses on pension and other post-retirement benefit
plans; environmental remediation costs, fines, penalties and related insurance recoveries related to facilities no longer owned or closed in prior years; gains and losses on the divestiture of operating businesses, joint ventures and equity investments; gains and losses on facility or property sales
or disposals; results of litigation, fines or penalties, where such litigation (or action relating to the fines or penalties) arose prior to the commencement of the performance period; one-time, non-recurring items; the effect of changes in accounting principles or other such laws or provisions
affecting reported results; and tax adjustments.
Tax adjustments include the net tax expense/benefit from one-time income tax items, the set-up or reversal of uncertain tax position reserves and deferred income tax valuation allowance adjustments.
https://www.avient.com/sites/default/files/resources/PolyOne%2520IR%2520Presentation%2520KeyBanc%2520Conference%2520-%2520September%252014%25202016.pdf
Addressable market exceeds $40 billion
St f d t t th t t t d ti Strong performance demonstrates that our strategy and execution
are working
Megatrends and emerging opportunities align with our strengths
Innovation and services provide differentiation, incremental pricing
power, and competitive advantage
Strong and proven management team driving growth and performance
The New PolyOne: A Specialty Growth Company
g p g g g p
PolyOne Corporation Page 21
The New PolyOne: A Specialty Growth Company
Appendix
PolyOne Corporation Page 22
2Q 2016 Financial Highlights
Performance Products & Solutions
operating margin grew 370 basis $18
$16
$21
$22
PP&S Operating Profit
points year-over-year to 12.3%
$11
$16
$10
$14
SEM O ti P fit
SEM operating margin expanded 50
basis points to a record second
$19 $20
$21
$22
SEM Operating Profit
Adjusted EPS
quarter level of 14.9% $13
$10
$14
$0.37
$0.51
$0.57
$0.63
$0.45
$0.70
Adjusted EPS
Second quarter adjusted EPS has
grown on average 20% per year
PolyOne Corporation Page 23
$0.30
$
since 2012
Note: $ in millions, except per share data
Color, Additives and Inks
2015 Revenues: $0.8 Billion Solutions
48%
33%
16.7%
18.0%
20%+Operating Income % of Sales
Expanding Profits2015 Revenue by Industry Segment
Textiles
4.6% 5.1% 5.5%
7.2% 8.1%
12.2%
Building &
C i
PolyOne Corporation Page 24
Electrical &
1%
Specialty Engineered Materials
2015 Revenues: $0.5 Billion Solutions
49%49%
29%
14.7% 14.9%
20%+Operating Income % of Sales
2015 Revenue by Industry Segment Expanding Profits
19%
1.1% 1.3%
3.4%
5.1%
9.6%
8.0% 8.6% 9.3%
12.1%Building &
Electrical &
PolyOne Corporation Page 25
Designed Structures and Solutions
Solutions2015 Revenues: $0.5 Billion
97%
8-10%
Operating Income % of Sales
Expanding Profits2015 Revenue by Industry Segment
Packaging
19%
1.4%
5.6%
7.3%
3.0%
1.0%Building &
Construction
Industrial
24% Transportation
33%
PolyOne Corporation Page 26
2012 2013 2014 2015 2Q'16 2020
Appliances,
Construction
Performance Products and Solutions
Solutions2015 Revenues: $0.7 Billion
79%
CanadaCanada
5% Transportation
19% Wire & Cable
12-14%
Operating Income % of Sales
Expanding Profits
12.3%
2015 Revenue by Industry Segment
Building &
Electrical &
El t i
1%
%
5.5%
6.9%
3.8% 3.6%
5.5%
4.3%
6.3%
7.2%
8.3%7.7%
PolyOne Corporation Page 27
Distribution
Key Suppliers2015 Revenues: $1.0 Billion
24%
Building &
4%Consumer
13%Healthcare
Electrical &
23%
6 6%
6.5-7.5%
6 5%
Operating Income % of Sales53%
ROIC Expanding Profits
2.6%
3.0%
3.5%
4.0%
4.6%
5.6%
6.4% 5.9%
6.6% 6.5%
6.1%
PolyOne Corporation Page 28
2006 2Q 2016 Platinum
Plastics: Key to Future Sustainable Development
2 lbs Plastic
=
3 lbs aluminum
Requires 91% less energy to
recycle a pound of plastic versus
a pound of paper3 lbs aluminum
8 lbs steel
a pound of paper
27 lbs glass
33% less material by weight
than aluminum
75% less material by weight75% less material by weight
than steel
93% less material by weight
than glass
PolyOne Corporation Page 29
than glass
Source: SPI: Sustainability and the Plastics Industry
Application Examples
PolyOne Corporation Page 30
Luxury Packaging
with Gravitech Density Modified Polymers
• Impart weight, sound and
metallic finish to caps andmetallic finish to caps and
closures for cosmetics and
spirits applications
• Elevate quality and prestige
perceptions amongperceptions among
high‐end consumers
• Eliminate time and cost
associated with secondary
operations and assembly
PolyOne Corporation Page 31
p y
Medical Device Housings
with Chemically Resistant Engineered Polymers
• Durable, long‐lasting products
stand up to the most
aggressive disinfectants
• Minimize environmental stress
cracking and discolorationg
• One of the broadest medically y
approved polymer and
colorant portfolios
PolyOne Corporation Page 32
Printed Circuit Boards
with Thermally Conductive Polymers
• Replaces metal by etchingReplaces metal by etching
circuit designs into thermally
conductive plastic
• Maintains heat transfer and
cooling capabilities of metals
• Reduces both weight and cost
• Increases the lifetime and
reliability of electronic systems
PolyOne Corporation Page 33
Color & Design Services
• Greater control of color
development and supply chain
• Work across entire design
process from concept to
commercialization
• Inspire creativity in the use of
polymer materials, colors
and effects
• Innovative brand differentiation
• Faster development timelines
PolyOne Corporation Page 34
• Faster development timelines
Outdoor Applications
• Leading provider of high
performance specialty materials
for the recreational and sports & p
leisure industry
• Well positioned across all segments
to address market needs
Metal to Polymer Conversion
Lightweighting
Thermal Management
Impact Performance
PolyOne Corporation Page 35
Source: Outdoor Industry Association
Fiber Colorants
Solutions for clothing, apparel, footwear, automotive & sporting goods
• ColorMatrix Fiber Colorant Solutions
Proprietary advanced liquid color
formulations and equipment enable
greater efficiency and productivity
Eliminates aqueous dyeing and its
associated wastewater treatment
• Solid Color Concentrates
Extrusion spun fibers colored viaExtrusion‐spun fibers colored via
solid masterbatch
PolyOne Corporation Page 36
PET Bottling Technology
• $1.5 billion attractive, growing market
Shelf‐life
extension
Weight
reduction
• Improve performance and reduce
cost through light‐weighting,
d d t f t l ti Greater product
consistency
l b l
Enhanced
product
aesthetics
reduced waste, faster cycle times
and extended shelf life
Recyclability and
reduced carbon
footprint
aesthetics
High heat
• Aligned with megatrend of facing
climate and resource challenges:
Color and
Special Effects
High heat
resistance Sustainability benefits include
lower package weight and
improved recyclability of package
at end of use
PolyOne Corporation Page 37
at end of use
Metal Replacement Solutions
• Replaces metal in LED lighting
• Extends LED durability and life
span eliminating hot spots
• Greater design flexibility with
fewer parts
• Weight reduction
l f f d• Simplifies manufacturing and
lowers total production cost
PolyOne Corporation Page 38
High-Barrier Packaging Containers
• Capability to extrude up to 13 layers• Capability to extrude up to 13 layers
• Strong oxygen and moisture vapor
transmission protectiontransmission protection
• Can be made symmetrical or
asymmetrical to meet customizedasymmetrical to meet customized
needs of broad variety of applications
• Barrier protection and superiorBarrier protection and superior
sensory properties
PolyOne Corporation Page 39
1
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.
Special items include charges related to specific strategic initiatives or financial restructuring such as: consolidation of operations; debt extinguishment costs; costs incurred directly in relation to
acquisitions or divestitures; employee separation costs resulting from personnel reduction programs, plant phase-in costs, executive separation agreements; asset impairments; mark-to-market adjustments associated with actuarial gains and losses on pension and other post-retirement benefit
plans; environmental remediation costs, fines, penalties and related insurance recoveries related to facilities no longer owned or closed in prior years; gains and losses on the divestiture of operating businesses, joint ventures and equity investments; gains and losses on facility or property sales
or disposals; results of litigation, fines or penalties, where such litigation (or action relating to the fines or penalties) arose prior to the commencement of the performance period; one-time, non-recurring items; the effect of changes in accounting principles or other such laws or provisions
affecting reported results; and tax adjustments.
Tax adjustments include the net tax expense/benefit from one-time income tax items, the set-up or reversal of uncertain tax position reserves and deferred income tax valuation allowance adjustments
https://www.avient.com/sites/default/files/resources/Terms%2520and%2520Conditions%2520of%2520Sale%2520for%2520Hungary.pdf
Seller shall
replace, free of charge, any Products which do not
conform to these specifications in one or several
deliveries.
All late payments shall bear an annual
interest of one month (1) EURIBOR plus 8% accrued
on a daily basis, notwithstanding any damages.
GOVERNMENTAL CONSTRAINTS
If a present or future law, governmental decree, order,
regulation, or ruling under any existing or future
legislation prevents Seller from increasing or revising
the price as provided herein, or nullifies or reduces
any price or price increase hereunder, upon written
notice from one to the other Seller and Buyer will
attempt to identify mutually agreeable changes to
conform these Terms and Conditions with such law,
decree, order, regulation, or ruling.
https://www.avient.com/sites/default/files/resources/Overmolding_of_Thermoplastic_Elastomers_Engineered_solutions_for_consumer_product_differentiation.pdf
July 19, 2007
Overmolding Technology
Over-Molding utilizes the injection molding process to apply one material [Over-Mold] onto another material
[Substrate].
One set molds the substrate and the other molds the overmolding material.
The second (over-mold) material is either injected onto one side of the insert or
sometimes completely surrounds the insert.
https://www.avient.com/sites/default/files/2025-02/News Release - AVNT-2024.12.31-News Release 2.12.25 2PM_0.pdf
A recording of the webcast and the slide presentation will be available at
avient.com/investors/events-presentations immediately following the conference call and will be
accessible for one year.
Three Months Ended December 31,
2024 2023
Reconciliation to Condensed Consolidated Statements of Income $ EPS(1) $ EPS(1)
Net income from continuing operations attributable to Avient shareholders $ 48.3 $ 0.52 $ 27.8 $ 0.30
Special items, after-tax (Attachment 3) (18.0) (0.20) 5.4 0.06
Amortization expense, after-tax 14.8 0.17 15.0 0.16
Adjusted net income / EPS $ 45.1 $ 0.49 $ 48.2 $ 0.52
(1) Per share amounts may not recalculate from figures presented herein due to rounding
Year Ended December 31,
2024 2023
Reconciliation to Condensed Consolidated Statements of Income $ EPS(1) $ EPS(1)
Net income from continuing operations attributable to Avient shareholders $ 169.5 $ 1.84 $ 75.8 $ 0.83
Special items, after-tax (Attachment 3) 15.9 0.17 79.3 0.86
Amortization expense, after-tax 59.5 0.65 61.5 0.67
Adjusted net income / EPS $ 244.9 $ 2.66 $ 216.6 $ 2.36
(1) Per share amounts may not recalculate from figures presented herein due to rounding
8
Attachment 2
Avient Corporation
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
Cost of sales 487.0 510.1 2,183.7 2,250.3
Gross margin 259.5 208.9 1,056.7 892.5
Selling and administrative expense 173.9 165.8 727.4 695.7
Operating income 85.6 43.1 329.3 196.8
Interest expense, net (25.5) (26.8) (105.6) (115.3)
Other income, net 3.2 4.3 1.1 5.8
Income from continuing operations before income taxes 63.3 20.6 224.8 87.3
Income tax (expense) benefit (14.8) 7.0 (54.1) (11.0)
Net income from continuing operations 48.5 27.6 170.7 76.3
Income (loss) from discontinued operations, net of income taxes — 0.8 — (0.1)
Net income 48.5 28.4 170.7 76.2
Net (income) loss attributable to noncontrolling interests (0.2) 0.2 (1.2) (0.5)
Net income attributable to Avient common shareholders $ 48.3 $ 28.6 $ 169.5 $ 75.7
Earnings per share attributable to Avient common shareholders - Basic:
Continuing operations $ 0.53 $ 0.30 $ 1.86 $ 0.83
Discontinued operations — 0.01 — —
Total $ 0.53 $ 0.31 $ 1.86 $ 0.83
Earnings per share attributable to Avient common shareholders - Diluted:
Continuing operations $ 0.52 $ 0.30 $ 1.84 $ 0.83
Discontinued operations — 0.01 — —
Total $ 0.52 $ 0.31 $ 1.84 $ 0.83
Cash dividends declared per share of common stock $ 0.2700 $ 0.2575 $ 1.0425 $ 1.0000
Weighted-average shares used to compute earnings per common share:
Basic 91.4 91.2 91.3 91.1
Diluted 92.2 91.9 92.0 91.8
9
Attachment 3
Avient Corporation
Summary of Special Items (Unaudited)
(In millions, except per share data)
Special items (1)
Three Months Ended
December 31,
Year Ended
December 31,
2024 2023 2024 2023
Cost of sales:
Restructuring costs, including accelerated depreciation $ (4.6) $ (2.0) $ 1.0 $ (11.9)
Environmental remediation costs (6.8) (17.2) (35.0) (69.7)
Reimbursement of previously incurred environmental costs 34.7 1.6 34.7 1.6
Impact on cost of sales 23.3 (17.6) 0.7 (80.0)
Selling and administrative expense:
Restructuring and employee separation costs (2.6) (1.1) (9.2) (14.9)
Legal and other (0.3) (6.1) (10.4) (15.2)
Acquisition related costs — (1.3) (2.5) (5.9)
Impact on selling and administrative expense (2.9) (8.5) (22.1) (36.0)
Impact on operating income 20.4 (26.1) (21.4) (116.0)
Interest expense, net - financing costs — (0.1) (2.3) (2.3)
Pension and post retirement mark-to-market adjustments and other 3.5 3.8 3.6 3.7
Impact on other income, net 3.5 3.8 3.6 3.7
Impact on income from continuing operations before income taxes 23.9 (22.4) (20.1) (114.6)
Income tax (expense) benefit on above special items (5.8) 4.5 6.1 27.7
Tax adjustments(2) (0.1) 12.5 (1.9) 7.6
Impact of special items on net income from continuing operations $ 18.0 $ (5.4) $ (15.9) $ (79.3)
Diluted earnings per common share impact $ 0.20 $ (0.06) $ (0.17) $ (0.86)
Weighted average shares used to compute adjusted earnings per share:
Diluted 92.2 91.9 92.0 91.8
(1) Special items include charges related to specific strategic initiatives or financial restructuring such as: consolidation of operations; debt
extinguishment costs; costs incurred directly in relation to acquisitions or divestitures; employee separation costs resulting from personnel
reduction programs, plant realignment costs, executive separation agreements; asset impairments; settlement gains or losses and mark-to-
market adjustments associated with gains and losses on pension and other post-retirement benefit plans; environmental remediation costs,
fines, penalties and related insurance recoveries related to facilities no longer owned or closed in prior years; gains and losses on facility or
property sales or disposals; results of litigation, fines or penalties, where such litigation (or action relating to the fines or penalties) arose
prior to the commencement of the performance period; one-time, non-recurring items; and the effect of changes in accounting principles or
other such laws or provisions affecting reported results
Three Months Ended
December 31,
Year Ended
December 31,
Reconciliation to Consolidated Statements of Income: 2024 2023 2024 2023
Sales $ 746.5 $ 719.0 $ 3,240.4 $ 3,142.8
Gross margin - GAAP 259.5 208.9 1,056.7 892.5
Special items in gross margin (Attachment 3) (23.3) 17.6 (0.7) 80.0
Adjusted gross margin $ 236.2 $ 226.5 $ 1,056.0 $ 972.5
Adjusted gross margin as a percent of sales 31.6 % 31.5 % 32.6 % 30.9 %
Operating income - GAAP 85.6 43.1 329.3 196.8
Special items in operating income (Attachment 3) (20.4) 26.1 21.4 116.0
Adjusted operating income $ 65.2 $ 69.2 $ 350.7 $ 312.8
Adjusted operating income as a percent of sales 8.7 % 9.6 % 10.8 % 10.0 %
Three Months Ended
December 31,
Year Ended
December 31,
Reconciliation to EBITDA and Adjusted EBITDA: 2024 2023 2024 2023
Net income from continuing operations – GAAP $ 48.5 $ 27.6 $ 170.7 $ 76.3
Income tax expense (benefit) 14.8 (7.0) 54.1 11.0
Interest expense 25.5 26.8 105.6 115.3
Depreciation and amortization from continuing operations 45.4 44.2 179.7 188.8
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
Adjusted EBITDA as a percent of sales 14.7 % 15.8 % 16.2 % 16.0 %
Three Months Ended March 31, 2024
Reconciliation to Condensed Consolidated Statements of Income $ EPS(1)
Net income from continuing operations attributable to Avient shareholders $ 49.4 $ 0.54
Special items, after-tax 5.5 0.06
Amortization expense, after-tax 14.9 0.16
Adjusted net income / EPS $ 69.8 $ 0.76
(1) Per share amounts may not recalculate from figures presented herein due to rounding
14
Year Ended December 31,
Adjusted Free Cash Flow Calculation 2024 2023
Cash provided by operating activities $ 256.8 $ 201.6
Taxes paid on gain on sale of business — 104.1
One-time payout associated with deferred compensation plans 20.8 —
Adjusted cash provided by operating activities $ 277.6 $ 305.7
Capital expenditures (121.9) (119.4)
Adjusted free cash flow $ 155.7 $ 186.3
https://www.avient.com/sites/default/files/2020-08/avient-investor-presentation-jefferies-industrials-conference.pdf
Reconciliation to Adjusted EPS Excluding Special Items and Impacts of February 2020 Equity Offering and May 2020 Debt Offering
Three Months Ended
June 30, 2020
Net income from continuing operations attributable to Avient common shareholders $ 23.0
Special items, after tax(1) 2.6
After tax interest expense, net arising from equity offering and debt offering proceeds 4.1
Adjusted net income excluding special items and impact of interest expense, net arising from equity offering and debt offering proceeds $ 29.7
Diluted weighted-average shares used to compute earnings per common share 91.8
Weighted-average impact of 15.3 million shares issued in February 2020 equity offering (15.3)
Diluted weighted-average shares excluding impact of shares issued in February 2020 equity offering 76.5
Adjusted EPS excluding special items and impact of equity offering and debt offering $ 0.39
(1) Special items include charges related to specific strategic initiatives or financial restructuring such as: consolidation of operations; debt extinguishment costs; costs incurred directly in relation to acquisitions or divestitures,
including adjustments related to contingent consideration; employee separation costs resulting from personnel reduction programs, plant realignment costs, executive separation agreements; asset impairments; settlement
gains or losses and mark-to-market adjustments associated with actuarial gains and losses on pension and other post-retirement benefit plans; environmental remediation costs, fines, penalties and related insurance
recoveries related to facilities no longer owned or closed in prior years; gains and losses on the divestiture of operating businesses, joint ventures and equity investments; gains and losses on facility or property sales or
disposals; results of litigation, fines or penalties, where such litigation (or action relating to the fines or penalties) arose prior to the commencement of the performance period; one-time, non- recurring items; and the effect
of changes in accounting principles or other such laws or provisions affecting reported results.
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.
https://www.avient.com/sites/default/files/resources/AquaMix-_Fact_Sheet__72831-B_%25281%2529.pdf
Our people are ONE
team working together – our strength and our
pride.
Our people are ONE
team working together – our strength and our
pride.
https://www.avient.com/sites/default/files/2024-12/Terms and Conditions of Sale for Hong Kong %28English%29.pdf
If a present or future law, governmental
decree, order, regulation, or ruling under any existing or future
legislation prevents Seller from increasing or revising the price as
provided herein, or nullifies or reduces any price or price increase
hereunder, upon written notice from one to the other, Seller and
Buyer will attempt to identify mutually agreeable changes to
conform this contract with such law, decree, order, regulation, or
ruling.
Where the Products are delivered by partial shipments,
no default or failure by Seller in respect of any one or more Products
shall vitiate the contract or relevant purchase order(s) in respect of
the Products.