https://www.avient.com/sites/default/files/2022-12/Mevopur Healthcare Functional Additives Pharma Pkg Application Bulletin.pdf
Reduction in yellowing using Color Compensation Technology (CCT) Reduced material consumption/cycle time/improved properties—nucleation Fast acting new generation nucleant for PE and PP; improved dimensional stability, thermal and mechanical properties Laser marking replacing ink printing/labels Solvent-free, high-speed identification for Nd/YAG laser Antiblock for PE/PP film Non-migrating additive system maintaining high gloss and printability Antioxidants for PE, PP, TPE Thermal protection during converting/ downstream sterilization Brand protection/ anticounterfeit Range of covert and non-covert systems Volatiles/odor absorber for PE/PP Physical absorption of a wide range of molecules responsible for odor, VOC and potential extractables/ leachables in plastics Healthcare use limitations apply—see below.
https://www.avient.com/sites/default/files/2022-12/Mevopur Laser Marking Additives Application Bulletin.pdf
It yields precise markings without the use of solvents or inks, or the need of any pre-treatment, making it a more environmentally friendly process.
https://www.avient.com/sites/default/files/2022-03/Avient 2021 Annual Report.pdf
GARRATT Senior Vice President, President of Color, Additives and Inks, EMEA JUSTIN M. Senior Director, Human Resources, Color, Additives and Inks, 2013 to 2016. Color, Additives and Inks Color, Additives and Inks is a leading formulator of specialized custom color and additive concentrates in solid and liquid form for thermoplastics, dispersions for thermosets, as well as specialty inks.
https://www.avient.com/sites/default/files/2023-02/AVNT Q4 2022 Earnings Press Release-1.pdf
Three Months Ended December 31, Year Ended 2022年12月31日 2021 2022 2021 Sales: Color, Additives and Inks $ 490.8 $ 581.3 $ 2,355.0 $ 2,401.6 Specialty Engineered Materials 300.8 226.3 1,044.4 911.6 Corporate (1.2) (0.5) (2.5) 2.3 Sales $ 790.4 $ 807.1 $ 3,396.9 $ 3,315.5 Gross margin: Color, Additives and Inks $ 134.5 $ 164.5 $ 681.3 $ 727.5 Specialty Engineered Materials 82.4 58.3 283.7 250.9 Corporate (44.9) (6.2) (82.3) (34.6) Gross margin $ 172.0 $ 216.6 $ 882.7 $ 943.8 Selling and administrative expense: Color, Additives and Inks $ 90.2 $ 103.3 $ 380.3 $ 424.4 Specialty Engineered Materials 47.2 31.2 143.6 125.4 Corporate 34.2 31.9 115.5 114.3 Selling and administrative expense $ 171.6 $ 166.4 $ 639.4 $ 664.1 Operating income: Color, Additives and Inks $ 44.3 $ 61.2 $ 301.0 $ 303.1 Specialty Engineered Materials 35.2 27.1 140.1 125.5 Corporate (79.1) (38.1) (197.8) (148.9) Operating income $ 0.4 $ 50.2 $ 243.3 $ 279.7 14 Attachment 7 Avient Corporation Reconciliation of Non-GAAP Financial Measures (Unaudited) (In millions, except per share data) Senior management uses gross margin before special items and operating income before special items to assess performance and allocate resources because senior management believes that these measures are useful in understanding current profitability levels and how it may serve as a basis for future performance.
https://www.avient.com/sites/default/files/resources/IR_Deck_11.4.19.pdf
V I S I O N PolyOne Corporation 4 To be the world’s premier provider of specialized polymer materials, services and solutions C O R E V A L U E S P E R S O N A L V A L U E S Honesty IntegrityRespect Operational Excellence Commercial Excellence Specialization Globalization Collaboration ExcellenceInnovation To be the world’s premier provider of specialized polymer materials, services and solutions S A F E T Y F I R S T PolyOne Corporation 5 Injuries per 100 Workers Spartech Acquisition 1.3 1.1 1.1 0.85 0.65 0.57 0.54 0.97 0.84 0.74 0.74 0.69 0.51 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 PolyOne Corporation 6 P O L Y O N E P R O F O R M A 2 0 1 8 R E V E N U E | $ 2 . 9 B I L L I O N * Segment End Market Geography 15% Healthcare Wire & Cable Building & Construction Electrical & Textiles Color Additives & Inks 34% Distribution 41% Specialty Engineered Materials 25% United States 54% Europe 20% Latin America 10% *Pro Forma excluding PP&S and including Fiber-Line PolyOne Corporation 204 P R O O F O F PER FO R MA N C E C O N S E C U T I V E Y E A R S 10 A D J U S T E D E P S E X P A N S I O N $1.51 $1.61 S U S T A I N A B L E P A T H T O D O U B L E - D I G I T E P S G R O W T H PolyOne Corporation 8 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 Double digit annual EPS growth Expand specialty portfolio with strategic acquisitions Innovate and develop new technologies and services Repurchase 600K-1M shares annually Increase commercial resources 5-7% annually Double acquired company margins Enhance efficiencies through Lean Six Sigma and commercial excellence 531 710130 164 504 663 R&D / Technical Marketing Sales PolyOne Corporation 9 Increased commercial headcount + 34% + 26% + 32% I N V E S T M E N T I N COMMERCIAL RESOURCES D R I V I N G G R O W T H Sustained revenue increases led by organic business $2.9 $2.9 $3.2 $3.5 2015 2016 2017 2018 Total + 9% Organic + 5% Revenue in billions of $ Total + 10% Organic + 7% Lead Specialists T H E E V O L V I N G C U S T O M E R R E L A T I O N S H I P PolyOne Corporation 10 Expanded Path Traditional Path Strategic Accounts/ Field Sales Business Development Customer Service Web and Social Media Inside Sales PolyOne Corporation 11 Investments in digital and dedicated inside sales to improve customer experience 110% increase in leads (from 6,000 to 12,700) driven by website, phone, and online chat EXPANDED PATH A D D I N G C U S T O M E R T O U C H P O I N T S 4 24 Inside sellers $11M $109M Inside sales/digital revenue A L I G N I N G W I T H T R E N D S F O R G R O W T H T R A N S P O R T A T I O N P A C K A G I N G H E A L T H C A R E C O N S U M E R PolyOne Corporation 12 Facilitate alternative energy solutions Light- weighting Reduce packaging materials Improve recyclability Reduce spread of infection I N N O V A T I O N PolyOne Corporation 13 Customization 55% M&A 30% Innovation Pipeline Innovation comes from Research & Development Spend ($ millions) Vitality Index % of sales from products launched last 5 years 35% 2006 2018 $20 $56 2006 2018 Transformational Opportunity for Growth Through M&A Adjacent Opportunity for Growth Through New Product Pipeline Core Customization 3 H O R I Z O N S O F D E V E L O P M E N T PolyOne Corporation 14 Incremental development from existing base of technology New development adjacent to current New technology development outside of and with our current base Service adjacent markets and Create new markets, target new customer needs Service existing markets and Market Technical I N N O V A T I O N Non-Halogen Flame Retardants Barrier Technologies Fiber Colorants Advanced Composites Thermoplastic Elastomers Gordon Composites/ Polystrand – Composites GLS – Thermoplastic Elastomers ColorMatrix – Liquid Color & Additives PlastiComp Fiber-Line I N N O V A T I O N S P O T L I G H T : C O M P O S I T E S PolyOne Corporation 15 C O M P O S I T E S R E F R E S H E R PolyOne Corporation 16 Polymer Composite Strength Design Flexibility Continuous Fiber Thermoset Short Glass Fiber Thermoplastics Continuous Fiber Long Glass Fiber Thermoplastics S T R A T E G I C I N V E S T M E N T H I S T O R Y Acquired Polystrand Installed LFT production Avon Lake Acquired Gordon Thermoplastic Composites Long Fiber Reinforced Thermoplastics Continuous Fiber Thermosets Long Fiber Thermoplastic (LFT) Technology Installed LFT production Barbastro, Spain Acquired Glasforms Long Fiber Reinforced Thermoplastics Continuous Fiber Thermosets 2012 2015 20162009 2011 Acquired PlastiComp, specialty LFT producer 2018 PolyOne Corporation Acquired Fiber-Line, specialty fiber processor 17 C O M P O S I T E S I N T R A N S P O R T A T I O N PolyOne Corporation 18 W A T E R C R A F TR A I L H E A V Y T R U C K Bulkheads and Transoms Ceilings and Hatches Doors and Cabinetry Flooring Door Panels Side Walls Flooring & Side Panels Aerodynamic Fairings Seat and Bunk Reinforcements P O L Y O N E A P P L I C A T I O N S I N F I B E R O P T I C C A B L E S PolyOne Corporation 19 1. T H E N E W P O L Y O N E : A S P E C I A L T Y G R O W T H C O M P A N Y Growing leadership position in attractive markets Innovation, technology and service are differentiators Capital management is a strength: Record-setting cash generation to continue for years Expand ROIC while increasing invested capital Proven acquisition strategy with robust pipeline Commercial investments are fueling momentum and generating organic growth SERVICE: T H E T I M E L E S S D I F F E R E N T I A T O R PolyOne Corporation 28 T A L E N T D E V E L O P M E N T PolyOne Corporation 29 Leadership Program Participants 2012 2013 2015 47 86 2016 125 169 412 Campus Hires 2008 2011 2017 25 47 PolyOne LSS Blackbelts 2008 2011 67 247 147 2018 141 A U N I Q U E C U S T O M E R E X P E R I E N C E Industrial Design IQ DESIGN LABS PolyOne Corporation 30 Material & Color Expertise Manufacturing Expertise 3 14 Industrial designers $0 $10M $4M $80M Opportunity funnel New business revenue LSS CUSTOMER FIRST PolyOne Corporation 31 Customer Projects Enables sales growth by building more intimate customer relationships, giving us insight to customers’ needs, with a service that is not easily replicated 2 104 3 D P R I N T I N G B R I N G I N G N E W I D E A S T O L I F E PolyOne Corporation 32 Enables validation of fit and function Shortens design cycle and time to market Avoids tooling rework Drives innovation Delivers substantial customer value PolyOne Corporation 33 From concept to production 99.9% Reduction in turnaround time Traditional Timeline up to 24 weeks PolyOne ColorMatrix Select™ 6 hours Innovative system for processors and OEMs to develop colors in real time Complete system that provides customers with the freedom to match, prototype and produce color entirely within their own facility C O L O R M A T R I X S E L E C T ™ “Being able to create color and produce parts in 1 day is unheard of in this industry” -CEO, Industry Leader I N N O V A T I N G W I T H P O L Y O N E PolyOne Corporation 34 SEGMENT HIGHLIGHTS C O L O R , A D D I T I V E S & I N K S E N D M A R K E T S & S O L U T I O N S PolyOne Corporation 35 Solid Colorants Performance Screen Printing Inks Liquid Colorants 28% Industrial Textiles Building & Construction 10% Appliances Electrical & Electronic 1% Operating Income & MarginRevenue by Region C O L O R , A D D I T I V E S & I N K S 2 0 1 8 R E V E N U E | O V E R $ 1 B I L L I O N $4 $25 $104 $159 0.9% 5.5% 12.2% 15.1% 8.0% 10.0% 12.0% 14.0% 16.0% 20 30 40 50 60 70 80 100 110 120 130 140 150 160 170 PolyOne Corporation 36 Europe 35% United States 45% 1% Mexico South America S P E C I A L T Y E N G I N E E R E D M A T E R I A L S E N D M A R K E T S & S O L U T I O N S * PolyOne Corporation 37 Engineered Formulations Advanced Thermoplastic Elastomers 22% 16% 9% 7% Building & Construction 4% Electrical & Electronics 16% *Pro Forma including Fiber-Line S P E C I A L T Y E N G I N E E R E D M A T E R I A L S Revenue by Region Operating Income & Margin P R O F O R M A 2 0 1 8 R E V E N U E | $ 7 5 0 M I L L I O N * PolyOne Corporation 38 $21 $57 $72 0.1% 5.1% 9.3% 11.2% 8.0% 10.0% 12.0% 20 30 40 50 60 70 80 Europe 28% United States 46% 24% *Pro Forma including Fiber-Line D I S T R I B U T I O N E N D M A R K E T S & S U P P L I E R S PolyOne Corporation 39 27% 22% 18% Electrical & Building & Construction $20 $25 $63 $71 2.9% 5.9% 5.6% 1.0% 3.0% 5.0% 7.0% 15 25 35 45 55 65 75 Operating Income & Margin2018 Revenue | $1.3 Billion http://www.avient.com/Pages/VariationRoot.aspx O V E R V I E W O F R A W M A T E R I A L P U R C H A S E S PolyOne Corporation 40 Performance Polyethylene Pigments 9% TiO2 Styrenic Block Copolymer 7% Nylon Polypropylene Plasticizers 4% Dyestuffs Other Raw Materials 32% $900 million of raw material purchases estimated in 2019 excluding Distribution business Note: All figures exclude PolyOne Distribution business and divested PP&S business T A R G E T E N D M A R K E T S & A P P L I C A T I O N E X A M P L E S PolyOne Corporation 41 Thermally Conductive Chemical Resistant Polymer Colorants Elastomeric Grips and Handles Structural Composites Antimicrobial Technologies Anti-Counterfeiting Target End Markets… Healthcare Catheter Technologies Under-hood Components Target End Markets… Automotive Interior Structural Sound & Vibration Management Roof Systems Air Management Electronics and Cameras Lighting Exterior / Interior Trim Braces & Brackets Fasteners Seals & Flaps Target End Markets… Consumer Thermally Conductive Polymer Colorants Elastomeric Grips and Handles Structural Composite Oxygen Scavenger Laser Marking Additives Antistatic Technologies UV Light Barrier Technologies Cap & Closure Colorants Process Optimization Antioxidant Technologies Density Modified Target End Markets… Packaging 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 Luxury Packaging GravitechTM Density Modified Polymers Eliminate costs by increasing pigment density Enhance color performance without altering form and formulation Increase design capabilities by reducing weight and layer thickness Optimize Color Usage OnColorTM Super Concentrates Inhibit microbial growth on polymer surfaces Enhance value or products and devices Highly versatile concentrate with the ability to be incorporated into a wide variety of products Combat Bacteria Formation WithStandTM Antimicrobial Technology 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 Medical Device Housings Chemically Resistant Engineered Polymers 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 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 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 Fiber Colorants Robert W. Service:�The Timeless differentiator Talent development IQ DESIGN LABS LSS CUSTOMER FIRST 3D Printing�Bringing New ideas to life Slide Number 33 Innovating with PolyOne COLOR, ADDITIVES & INKS Color, Additives & Inks Specialty Engineered Materials Specialty Engineered Materials DISTRIBUTION Overview of RAW MATERIAL PURCHASES Target end markets & �application examples Slide Number 42 Slide Number 43 Slide Number 44 Slide Number 45 Slide Number 46 Slide Number 47 Slide Number 48 Slide Number 49 Slide Number 50 Slide Number 51 Slide Number 52
https://www.avient.com/sites/default/files/2019-12/Fermium_IR_Deck_12.16.19_for_Website.pdf
V I S I O N PolyOne Corporation 4 To be the world’s premier provider of specialized polymer materials, services and solutions C O R E V A L U E S P E R S O N A L V A L U E S Honesty IntegrityRespect Operational Excellence Commercial Excellence Specialization Globalization Collaboration ExcellenceInnovation To be the world’s premier provider of specialized polymer materials, services and solutions S A F E T Y F I R S T PolyOne Corporation 5 Injuries per 100 Workers Spartech Acquisition 1.3 1.1 1.1 0.85 0.65 0.57 0.54 0.97 0.84 0.74 0.74 0.69 0.51 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 PolyOne Corporation 6 P O L Y O N E P R O F O R M A 2 0 1 8 R E V E N U E | $ 2 . 9 B I L L I O N * Segment End Market Geography 15% Healthcare 15% Wire & Cable Building & Electrical & Electronics Textiles Color Additives & Inks 34% Distribution 41% Specialty Engineered Materials 25% United States 54% Europe 20% Latin America 10% *Pro Forma excluding PP&S and including Fiber-Line P R O O F O F P E RFO RMAN CE C O N S E C U T I V E Y E A R S 10 A D J U S T E D E P S E X P A N S I O N $1.51 $1.61 PolyOne Corporation 7 S U S T A I N A B L E P A T H T O D O U B L E - D I G I T E P S G R O W T H PolyOne Corporation 8 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 Double digit annual EPS growth Expand specialty portfolio with strategic acquisitions Innovate and develop new technologies and services Repurchase 600K-1M shares annually Increase commercial resources 5-7% annually Double acquired company margins Enhance efficiencies through Lean Six Sigma and commercial excellence 531 710130 164 504 663 R&D / Technical Marketing Sales PolyOne Corporation 9 Increased commercial headcount + 34% + 26% + 32% I N V E S T M E N T I N COMMERCIAL RESOURCES D R I V I N G G R O W T H Sustained revenue increases led by organic business $2.9 $2.9 $3.2 $3.5 2015 2016 2017 2018 Total + 9% Organic + 5% Revenue in billions of $ Total + 10% Organic + 7% Lead Specialists T H E E V O L V I N G C U S T O M E R R E L A T I O N S H I P PolyOne Corporation 10 Expanded Path Traditional Path Strategic Accounts/ Field Sales Business Development Customer Service Web and Social Media Inside Sales PolyOne Corporation 11 Investments in digital and dedicated inside sales to improve customer experience 110% increase in leads (from 6,000 to 12,700) driven by website, phone, and online chat EXPANDED PATH A D D I N G C U S T O M E R T O U C H P O I N T S 4 24 Inside sellers $11M $109M Inside sales/digital revenue A L I G N I N G W I T H T R E N D S F O R G R O W T H T R A N S P O R T A T I O N P A C K A G I N G H E A L T H C A R E C O N S U M E R PolyOne Corporation 12 Facilitate alternative energy solutions Light- weighting Reduce packaging materials Improve recyclability Reduce spread of infection I N N O V A T I O N PolyOne Corporation 13 Customization 55% M&A 30% Innovation Pipeline 15% Innovation comes from Research & Development Spend ($ millions) Vitality Index % of sales from products launched last 5 years 35% 2006 2018 $20 $56 2006 2018 Transformational Opportunity for Growth Through M&A Adjacent Opportunity for Growth Through New Product Pipeline Core Customization 3 H O R I Z O N S O F D E V E L O P M E N T PolyOne Corporation 14 Incremental development from existing base of technology New development adjacent to current New technology development outside of and with our current base Service adjacent markets and Create new markets, target new customer needs Service existing markets and Market Technical I N N O V A T I O N Non-Halogen Flame Retardants Barrier Technologies Fiber Colorants Advanced Composites Thermoplastic Elastomers Gordon Composites/ Polystrand – Composites GLS – Thermoplastic Elastomers ColorMatrix – Liquid Color & Additives PlastiComp Fiber-Line I N N O V A T I O N S P O T L I G H T : C O M P O S I T E S PolyOne Corporation 15 C O M P O S I T E S R E F R E S H E R PolyOne Corporation 16 Polymer Composite Strength Design Flexibility Continuous Fiber Thermoset Short Glass Fiber Thermoplastics Continuous Fiber Long Glass Fiber Thermoplastics S T R A T E G I C I N V E S T M E N T H I S T O R Y Acquired Polystrand Installed LFT production Avon Lake Acquired Gordon Thermoplastic Composites Long Fiber Reinforced Thermoplastics Continuous Fiber Thermosets Long Fiber Thermoplastic (LFT) Technology Installed LFT production Barbastro, Spain Acquired Glasforms Long Fiber Reinforced Thermoplastics Continuous Fiber Thermosets 2012 2015 20162009 2011 Acquired PlastiComp, specialty LFT producer 2018 PolyOne Corporation Acquired Fiber-Line, specialty fiber processor 17 C O M P O S I T E S I N T R A N S P O R T A T I O N PolyOne Corporation 18 W A T E R C R A F TR A I L H E A V Y T R U C K Bulkheads and Transoms Ceilings and Hatches Doors and Cabinetry Flooring Door Panels Side Walls Flooring & Side Panels Aerodynamic Fairings Seat and Bunk Reinforcements P O L Y O N E A P P L I C A T I O N S I N F I B E R O P T I C C A B L E S PolyOne Corporation 19 1. T H E N E W P O L Y O N E : A S P E C I A L T Y G R O W T H C O M P A N Y Growing leadership position in attractive markets Innovation, technology and service are differentiators Capital management is a strength: Record-setting cash generation to continue for years Expand ROIC while increasing invested capital Proven acquisition strategy with robust pipeline Commercial investments are fueling momentum and generating organic growth SERVICE: T H E T I M E L E S S D I F F E R E N T I A T O R PolyOne Corporation 28 T A L E N T D E V E L O P M E N T PolyOne Corporation 29 Leadership Program Participants 2012 2013 2015 47 86 2016 125 169 412 Campus Hires 2008 2011 2017 25 47 PolyOne LSS Blackbelts 2008 2011 67 247 147 2018 141 A U N I Q U E C U S T O M E R E X P E R I E N C E Industrial Design IQ DESIGN LABS PolyOne Corporation 30 Material & Color Expertise Manufacturing Expertise 3 14 Industrial designers $0 $10M $4M $80M Opportunity funnel New business revenue LSS CUSTOMER FIRST PolyOne Corporation 31 Customer Projects Enables sales growth by building more intimate customer relationships, giving us insight to customers’ needs, with a service that is not easily replicated 2 104 3 D P R I N T I N G B R I N G I N G N E W I D E A S T O L I F E PolyOne Corporation 32 Enables validation of fit and function Shortens design cycle and time to market Avoids tooling rework Drives innovation Delivers substantial customer value PolyOne Corporation 33 From concept to production 99.9% Reduction in turnaround time Traditional Timeline up to 24 weeks PolyOne ColorMatrix Select™ 6 hours Innovative system for processors and OEMs to develop colors in real time Complete system that provides customers with the freedom to match, prototype and produce color entirely within their own facility C O L O R M A T R I X S E L E C T ™ “Being able to create color and produce parts in 1 day is unheard of in this industry” -CEO, Industry Leader I N N O V A T I N G W I T H P O L Y O N E PolyOne Corporation 34 SEGMENT HIGHLIGHTS C O L O R , A D D I T I V E S & I N K S E N D M A R K E T S & S O L U T I O N S PolyOne Corporation 35 Solid Colorants Performance Screen Printing Inks Liquid Colorants 32% Textiles Wire & Cable Building & Construction 9%Consumer 7% Appliances Electrical & Electronics Operating Income & MarginRevenue by Region C O L O R , A D D I T I V E S & I N K S 2 0 1 8 R E V E N U E | O V E R $ 1 B I L L I O N $4 $25 $104 $159 0.9% 5.5% 12.2% 15.1% 8.0% 10.0% 12.0% 14.0% 16.0% 20 30 40 50 60 70 80 100 110 120 130 140 150 160 170 PolyOne Corporation 36 Europe 35% United States 45% Mexico South America S P E C I A L T Y E N G I N E E R E D M A T E R I A L S E N D M A R K E T S & S O L U T I O N S PolyOne Corporation 37 Engineered Formulations Advanced Thermoplastic Elastomers 28% 18% Electrical & Electronic Building & Construction 16% S P E C I A L T Y E N G I N E E R E D M A T E R I A L S Revenue by Region Operating Income & Margin P R O F O R M A 2 0 1 8 R E V E N U E | $ 7 5 0 M I L L I O N * PolyOne Corporation 38 $21 $57 $72 0.1% 5.1% 9.3% 11.2% 8.0% 10.0% 12.0% 20 30 40 50 60 70 80 Europe 28% United States 46% 24% *Pro-Forma including Fiber-Line D I S T R I B U T I O N E N D M A R K E T S & S U P P L I E R S PolyOne Corporation 39 27% 23% 18% Electrical & Electronics Building & $20 $25 $63 $71 2.9% 5.9% 5.6% 1.0% 3.0% 5.0% 7.0% 15 25 35 45 55 65 75 Operating Income & Margin2018 Revenue | $1.3 Billion http://www.avient.com/Pages/VariationRoot.aspx O V E R V I E W O F R A W M A T E R I A L P U R C H A S E S PolyOne Corporation 40 Performance Polyethylene Pigments TiO2 Styrenic Block Copolymer 7% Nylon Polypropylene Plasticizers 4% Dyestuffs Other Raw Materials 32% $900 million of raw material purchases estimated in 2019 excluding Distribution business Note: All figures exclude PolyOne Distribution business and divested PP&S business T A R G E T E N D M A R K E T S & A P P L I C A T I O N E X A M P L E S PolyOne Corporation 41 Thermally Conductive Chemical Resistant Polymer Colorants Elastomeric Grips and Handles Structural Composites Antimicrobial Technologies Anti-Counterfeiting Target End Markets… Healthcare Catheter Technologies Under-hood Components Target End Markets… Automotive Interior Structural Sound & Vibration Management Roof Systems Air Management Electronics and Cameras Lighting Exterior / Interior Trim Braces & Brackets Fasteners Seals & Flaps Target End Markets… Consumer Thermally Conductive Polymer Colorants Elastomeric Grips and Handles Structural Composite Oxygen Scavenger Laser Marking Additives Antistatic Technologies UV Light Barrier Technologies Cap & Closure Colorants Process Optimization Antioxidant Technologies Density Modified Target End Markets… Packaging 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 Luxury Packaging GravitechTM Density Modified Polymers Eliminate costs by increasing pigment density Enhance color performance without altering form and formulation Increase design capabilities by reducing weight and layer thickness Optimize Color Usage OnColorTM Super Concentrates Inhibit microbial growth on polymer surfaces Enhance value or products and devices Highly versatile concentrate with the ability to be incorporated into a wide variety of products Combat Bacteria Formation WithStandTM Antimicrobial Technology 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 Medical Device Housings Chemically Resistant Engineered Polymers 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 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 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 Fiber Colorants Reconciliation of Non-GAAP Financial Measures (Unaudited) (Dollars in millions, except per share data) Senior management uses comparisons of adjusted net income from continuing operations attributable to PolyOne shareholders and diluted adjusted earnings per share (EPS) from continuing operations attributable to PolyOne shareholders, excluding special items, to assess performance and facilitate comparability of results. Service:�The Timeless differentiator Talent development IQ DESIGN LABS LSS CUSTOMER FIRST 3D Printing�Bringing New ideas to life Slide Number 33 Innovating with PolyOne COLOR, ADDITIVES & INKS Color, Additives & Inks Specialty Engineered Materials Specialty Engineered Materials DISTRIBUTION Overview of RAW MATERIAL PURCHASES Target end markets & �application examples Slide Number 42 Slide Number 43 Slide Number 44 Slide Number 45 Slide Number 46 Slide Number 47 Slide Number 48 Slide Number 49 Slide Number 50 Slide Number 51 Slide Number 52
https://www.avient.com/sites/default/files/2024-02/AVNT Q4 2023 Earnings Press Release.pdf
Three Months Ended December 31, Year Ended 2023年12月31日 2022 2023 2022 Sales: Color, Additives and Inks $ 459.4 $ 490.8 $ 2,007.4 $ 2,355.0 Specialty Engineered Materials 259.8 300.8 1,138.2 1,044.4 Corporate (0.2) (1.2) (2.8) (2.5) Sales $ 719.0 $ 790.4 $ 3,142.8 $ 3,396.9 Gross margin: Color, Additives and Inks $ 148.3 $ 134.5 $ 631.2 $ 681.3 Specialty Engineered Materials 78.1 82.4 341.8 283.7 Corporate (17.5) (44.9) (80.5) (82.3) Gross margin $ 208.9 $ 172.0 $ 892.5 $ 882.7 Selling and administrative expense: Color, Additives and Inks $ 86.5 $ 90.2 $ 371.3 $ 380.3 Specialty Engineered Materials 48.7 47.2 199.3 143.6 Corporate 30.6 34.2 125.1 115.5 Selling and administrative expense $ 165.8 $ 171.6 $ 695.7 $ 639.4 Operating income: Color, Additives and Inks $ 61.8 $ 44.3 $ 259.9 $ 301.0 Specialty Engineered Materials 29.4 35.2 142.5 140.1 Corporate (48.1) (79.1) (205.6) (197.8) Operating income $ 43.1 $ 0.4 $ 196.8 $ 243.3 13 Attachment 7 Avient Corporation Reconciliation of Non-GAAP Financial Measures (Unaudited) (In millions, except per share data) Senior management uses gross margin before special items and operating income before special items to assess performance and allocate resources because senior management believes that these measures are useful in understanding current profitability levels and how it may serve as a basis for future performance.
https://www.avient.com/sites/default/files/resources/PolyOne%2520IR%2520Presentation%2520-%2520RW%2520Baird%2520Global%2520Industrial%2520Conference%2520-%252011%253A8%253A2016.pdf
Addressable market exceeds $40 billion Strong performance demonstrates that our strategy and execution are working Megatrends and emerging opportunities align with strengths Innovation and services provide differentiation, incremental pricing power and competitive advantage Strong and proven management team driving growth and performance 21 POLYONE CORPORATION Segment Highlights POLYONE CORPORATION 22 2015 Revenue: $0.8 Billion At a Glance: Color, Additives & Inks Key Applications 2015 Revenue by Industry Expanding Profits 1.7% 4.6% 5.1% 5.5% 7.2% 8.1% 9.7% 12.2% 14.7% 16.7% 17.0% 20%+ 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 YTD 2020 Operating Income % of Sales Platinum Vision United States 48% Europe 33% Asia 12% Latin America 5% Canada 2% Packaging 31% Industrial 13% B & C 11% W & C 11% Transportation 9% Consumer 8% Textiles 8% Healtchare 6% Appliances 2% E & E 1% POLYONE CORPORATION 23 2015 Revenue: $0.5 Billion At a Glance: Specialty Engineered Materials 2015 Revenue by Industry Expanding Profits 1.1% 1.3% 3.4% 5.1% 9.6% 8.0% 8.6% 9.3% 12.1% 14.7% 15.2% 20%+ 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 YTD 2020 Operating Income % of Sales Platinum Vision Consumer 20% Transportation 19% E & E 16% W & C 15% Healthcare 11% Industrial 8% Packaging 5% Appliances 3% B & C 3% United States 49% Europe 29% Asia 20% Canada 2% Key Applications POLYONE CORPORATION 24 2015 Revenue: $0.5 Billion At a Glance: Designed Structures & Solutions 2015 Revenue by Industry Expanding Profits 1.4% 5.6% 7.3% 3.0% 8-10% 0.3% 2012 2013 2014 2015 2016 YTD 2020 Operating Income % of Sales Platinum Vision Transportation 33% Industrial 24% Packaging 19% B & C 9% Healthcare 7% Consumer 5% Appliances 3% United States 97% Canada 3% Key Applications http://www.google.com/url? Adjusted EPS is calculated as follows: Adjusted EPS 2006Y* 2007Y* 2008Y* 2009Y* 2010Y 2011Y 2012Y 2013Y 2014Y 2015Y Net income (loss) attributable to PolyOne common shareholders $ 130.9 $ 40.9 $ (417.0) $ 106.7 $ 152.5 $ 153.4 $ 53.3 $ 94.0 $ 78.0 $ 144.6 Joint venture equity earnings, after tax (68.5) (26.1) (20.8) (19.0) (14.7) (3.7) — — — — Special items, after tax(1) (51.2) 10.7 457.2 (75.9) (72.5) (72.8) 36.2 32.6 90.5 28.9 Adjusted net income $ 11.2 $ 25.5 $ 19.4 $ 11.8 $ 65.3 $ 76.9 $ 89.5 $ 126.6 $ 168.5 $ 173.5 Diluted shares 92.8 93.1 92.7 93.4 96.0 94.3 89.8 96.5 93.5 88.7 Adjusted EPS $ 0.12 $ 0.27 $ 0.21 $ 0.13 $ 0.68 $ 0.82 $ 1.00 $ 1.31 $ 1.80 $ 1.96 Adjusted EPS Q1 2009* Q2 2009* Q3 2009* Q4 2009* Q1 2010 Q2 2010 Q3 2010 Q4 2010 Net income attributable to PolyOne common shareholders $ 3.3 $ 1.3 $ 51.3 $ 50.8 $ 20.1 $ 44.7 $ 0.1 $ 87.6 Joint venture equity earnings, after tax (8.2) (5.8) (3.0) (2.0) (0.5) (4.5) (6.2) (3.5) Special items, after tax(1) (10.2) 9.2 (36.9) (38.0) (3.8) (22.1) 25.4 (72.0) Adjusted net (loss) income $ (15.1) $ 4.7 $ 11.4 $ 10.8 $ 15.8 $ 18.1 $ 19.3 $ 12.1 Diluted shares 92.2 93.5 93.9 94.4 95.3 96.3 96.3 97.4 Adjusted EPS $ (0.16) $ 0.05 $ 0.12 $ 0.11 $ 0.17 $ 0.19 $ 0.20 $ 0.12 Adjusted EPS Q1 2011 Q2 2011 Q3 2011 Q4 2011 Q1 2012 Q2 2012 Q3 2012 Q4 2012 Net income attributable to PolyOne common shareholders $ 106.0 $ 23.1 $ 16.0 $ 8.3 $ 15.3 $ 18.4 $ 19.4 $ 0.2 Joint venture equity earnings, after tax (3.7) - - - - - - - Special items, after tax(1) (81.3) 1.3 2.8 4.4 6.2 8.9 5.4 15.7 Adjusted net income $ 21.0 $ 24.4 $ 18.8 $ 12.7 $ 21.5 $ 27.3 $ 24.8 $ 15.9 Diluted shares 96.4 95.5 94.0 91.9 90.7 90.7 90.2 90.5 Adjusted EPS $ 0.22 $ 0.26 $ 0.20 $ 0.14 $ 0.24 $ 0.30 $ 0.28 $ 0.18 2 Adjusted EPS Q1 2013 Q2 2013 Q3 2013 Q4 2013 Q1 2014 Q2 2014 Q3 2014 Q4 2014 Net income (loss) attributable to PolyOne common shareholders $ 11.2 $ 38.6 $ 23.2 $ 21.0 $ 29.4 $ 30.9 $ 32.3 $ (14.6) Special items, after tax(1) 17.7 (2.0) 12.3 4.6 12.5 17.4 13.1 47.5 Adjusted net income $ 28.9 $ 36.6 $ 35.5 $ 25.6 $ 41.9 $ 48.3 $ 45.4 $ 32.9 Diluted shares 92.8 99.1 98.1 97.2 95.7 94.3 93.1 91.3 Adjusted EPS $ 0.31 $ 0.37 $ 0.36 $ 0.26 $ 0.44 $ 0.51 $ 0.49 $ 0.36 Adjusted EPS Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016 Net income attributable to PolyOne common shareholders $ 30.2 $ 66.8 $ 44.5 $ 3.1 $ 39.1 $ 50.0 $ 42.3 Special items, after tax(1) 11.4 (15.9) 3.0 30.4 9.1 3.2 4.7 Adjusted net income $ 41.6 $ 50.9 $ 47.5 $ 33.5 $ 48.2 $ 53.2 $ 47.0 Diluted shares 90.1 89.8 88.4 86.6 85.5 84.7 84.5 Adjusted EPS $ 0.46 $ 0.57 $ 0.54 $ 0.39 $ 0.56 $ 0.63 $ 0.56 Adjusted operating margin is calculated as follows: Adjusted operating margin Q1 2009* Q2 2009* Q3 2009* Q4 2009* YTD 2009* Q1 2010 Q2 2010 Q3 2010 Q4 2010 YTD 2010 Operating Income $ 9.9 $ 17.1 $ 57.9 $ 52.2 $ 137.1 $ 32.3 $ 58.6 $ 42.0 $ 26.3 $ 159.2 Special items (1) (1.3) 4.6 (27.5) (24.5) (48.7) - (14.5) 5.5 4.2 (4.8) Joint venture equity earnings (12.8) (9.0) (4.8) (3.1) (29.7) (0.8) (7.1) (9.7) (5.5) (23.1) Adjusted operating (loss) income $ (4.2) $ 12.7 $ 25.6 $ 24.6 $ 58.7 $ 31.5 $ 37.0 $ 37.8 $ 25.0 $ 131.3 Sales $ 463.4 $ 496.5 $ 548.3 $ 552.5 $ 2,060.7 $ 604.0 $ 666.2 $ 650.7 $ 585.3 $ 2,506.2 Operating Margin (0.9)% 2.6% 4.7% 4.5% 2.8% 5.2% 5.6% 5.8% 4.3% 5.2% Adjusted operating margin Q1 2011 Q2 2011 Q3 2011 Q4 2011 YTD 2011 Q1 2012 Q2 2012 Q3 2012 Q4 2012 YTD 2012 Operating income (loss) $ 173.4 $ 42.4 $ 33.4 $ (46.2) $ 203.0 $ 37.4 $ 43.3 $ 43.5 $ 13.3 $ 137.5 Special items (1) (127.2) 2.7 4.9 72.9 (46.7) 8.5 11.8 8.3 25.3 53.9 Joint venture equity earnings (5.7) - - - (5.7) - - - - - Adjusted operating income $ 40.5 $ 45.1 $ 38.3 $ 26.7 $ 150.6 $ 45.9 $ 55.1 $ 51.8 $ 38.6 $ 191.4 Sales $ 682.8 $ 723.4 $ 694.0 $ 609.2 $ 2,709.4 $ 745.5 $ 756.6 $ 707.7 $ 651.0 $ 2,860.8 Operating Margin 5.9% 6.2% 5.5% 4.4% 5.6% 6.2% 7.3% 7.3% 5.9% 6.7% 3 Adjusted operating margin Q1 2013 Q2 2013 Q3 2013 Q4 2013 YTD 2013 Q1 2014 Q2 2014 Q3 2014 Q4 2014 YTD 2014 Operating income (loss) $ 40.5 $ 80.7 $ 61.6 $ 48.7 $ 231.5 $ 56.4 $ 49.4 $ 63.6 $ (14.3) $ 155.1 Special items (1) 16.6 (5.2) 10.8 7.8 30.0 22.9 39.8 22.0 80.2 164.9 Adjusted operating income $ 57.1 $ 75.5 $ 72.4 $ 56.5 $ 261.5 $ 79.3 $ 89.2 $ 85.6 $ 65.9 $ 320.0 Sales $ 801.1 $ 1,037.6 $ 1,008.9 $ 923.6 $ 3,771.2 $ 1,002.3 $ 1,005.5 $ 958.4 $ 869.3 $ 3,835.5 Operating Margin 7.1% 7.3% 7.2% 6.1% 6.9% 7.9% 8.9% 8.9% 7.6% 8.3% Adjusted operating margin Q1 2015 Q2 2015 Q3 2015 Q4 2015 YTD 2015 Q1 2016 Q2 2016 Q3 2016 Operating income $ 70.1 $ 80.3 $ 69.2 $ 31.3 $ 250.9 $ 71.3 $ 81.5 $ 71.2 Special items (1) 9.3 11.9 18.7 31.4 71.3 13.8 10.4 12.0 Adjusted operating income $ 79.4 $ 92.2 $ 87.9 $ 62.7 $ 322.2 $ 85.1 $ 91.9 $ 83.2 Sales $ 873.1 $ 887.1 $ 841.6 $ 775.8 $ 3,377.6 $ 847.0 $ 861.5 $ 843.6 Operating Margin 9.1% 10.4% 10.4% 8.1% 9.5% 10.0% 10.7% 9.9% Specialty platform percentage of operating income is calculated as follows: Platform operating income mix percentage 2006Y* Q3 2016 YTD Color, Additives and Inks $ 8.9 $ 104.5 Specialty Engineered Materials 3.9 65.3 Designed Structures and Solutions — 0.9 Specialty Platform $ 12.8 $ 170.7 Performance Products and Solutions 64.2 59.0 Distribution 19.2 53.5 Joint ventures 102.9 — Corporate and eliminations 34.5 (59.2) Operating income GAAP $ 233.6 $ 224.0 Less: Specials (1) (34.5) 59.2 Operating income excluding Specials $ 199.1 $ 283.2 Joint ventures equity income (107.0) — Adjusted Operating income $ 92.1 $ 283.2 Specialty platform percentage of operating income excluding Specials 6% 60% * Historical results are shown as presented in prior filings and have not been updated to reflect subsequent changes in accounting principal, discontinued operations or the related resegmentation Segment Highlights At a Glance: Color, Additives & Inks At a Glance: Specialty Engineered Materials At a Glance: Designed Structures & Solutions At a Glance: Performance Products & Solutions At a Glance: Distribution Application Examples Luxury Packaging�with Gravitech Density Modified Polymers Medical Device Housings�with Chemically Resistant Engineered Polymers Printed Circuit Boards�with Thermally Conductive Polymers Color & Design Services Outdoor Applications Fiber Colorants�Solutions for clothing, apparel, footwear, automotive & sporting goods Slide Number 34 Metal Replacement Solutions High-Barrier Packaging Containers
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PolyOne Corporation Page 3 PolyOne Commodity to Specialty Transformation 2000-20052000-2005 2006 - 20092006 - 2009 2010 – 20152010 – 2015 2016 and beyond 2016 and beyond • Steve Newlin appointed, Chairman, • Steve Newlin appointed, Chairman, • Substantial EPS growth from $0.13 to all-time high of $1.96 • Substantial EPS growth from $0.13 to all-time high of $1.96 • Deliver consistent double digit annual EPS growth • Deliver consistent double digit annual EPS growth • Volume driven, commodity producer • Volume driven, commodity producer pp , , President and CEO • New leadership team appointed pp , , President and CEO • New leadership team appointed • Shift to faster growing, high margin, less • Key acquisitions propel • Shift to faster growing, high margin, less • Key acquisitions propel • Maintain >35% vitality index • Pursue strategic i iti th t • Maintain >35% vitality index • Pursue strategic i iti th t • Heavily tied to • Heavily tied to cyclical end markets • Implementation of four pillar strategy • Implementation of four pillar strategy y q p p current and future growth, as well as margin expansion • Specialty mix expands y q p p current and future growth, as well as margin expansion • Specialty mix expands acquisitions that expand specialty offerings and geographic breadth acquisitions that expand specialty offerings and geographic breadth • Performance largely dependent on non- controlling joint ventures • Performance largely dependent on non- controlling joint ventures • Focus on value based selling, investment in commercial resources and innovation to drive transformation • Focus on value based selling, investment in commercial resources and innovation to drive transformation to 65% of Operating Income – strongest mix of earnings in history to 65% of Operating Income – strongest mix of earnings in history • Invest and grow current and next generation talent • Invest and grow current and next generation talent PolyOne Corporation Page 4 Confirmation of Our Strategy SpecializationSpecialization GlobalizationGlobalization Associates Operational Operational Commercial Commercial Th W ld’ P i P id f S i li d PolyOne Corporation Page 5 The World’s Premier Provider of Specialized Polymer Materials, Services and Solutions 27 Consecutive Quarters of EPS Growth PolyOne Corporation Page 6 PolyOne At A Glance 2015 Revenues: $3.4 Billion2015 Revenues: $3.4 Billion 2015 Revenues: $3.4 Billion2015 Revenues: $3.4 Billion 7% PP&S Distribution 29% CAI 23% SEM %DSS End MarketsEnd Markets Adjusted EPSAdjusted EPS 66% 15%DSS End MarketsEnd Markets $1.31 $1.80 Adjusted EPSAdjusted EPS Textiles $1.96 $0 27 $0 21 $0.68 $0.82 $1.00 $1.31 Building & C PolyOne Corporation Page 7 $0.12 $0.27 $0.21 $0.13 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 10%Electrical & Mix Shift Highlights Specialty Transformation Old PolyOne Transformation 2020 80% nc om e* pe ra tin g In 80%+ 43% 65% % o f O 2%0% 2005 2010 2015 2020 Specialty OI $5M $87M $229M Platinum PolyOne Corporation Page 8 *Operating Income excludes corporate charges and special items JV's Performance Products & Solutions Distribution Specialty Color and Engineered Materials at the Heart of Specialty Transformation OPERATING MARGIN 16.7% 17.5% 20%+ COLOR, ADDITIVES AND INKS 15 8% 20%+ SPECIALTY ENGINEERED MATERIALS 12.2% 9.6% 9.3% 12.1% 15.8% 1 7% 4.6% 5.1% 5.5% 7.2% 8.1% 3.4% 5.1% 8.0% 8.6% 1.1% 1.3% YTD YTD PolyOne Corporation Page 9 Proof of Performance & 2020 Goals 2006 2Q 2016 2020 “Where we were” “Where we are” Platinum Vision 1) Operating Income %1) Operating Income % Specialty: Color, Additives & Inks 1.7% 18.0% 20%+ S i lt E i d M t i l 1 1% 14 9% 20%+Specialty Engineered Materials 1.1% 14.9% 20%+ Designed Structures & Solutions N/A 1.7% (TTM) 8 – 10% Performance Products & Solutions 5.5% 12.3% 12 – 14% Distribution 2.6% 6.5% 6.5 – 7.5% 2) Specialty Platform % of Operating Income 6.0% 61% 80%+ 3) ROIC* 5.0% 12.0% 15% 4) Adjusted EPS Growth N/A 11% Double Digit PolyOne Corporation Page 10 ) j % Expansion *ROIC is defined as TTM adjusted OI divided by the sum of average debt and equity over a 5 quarter period TPE’s & Film Therma-Tech™ & Sheet GEON™ Vinyl TPE + OnForce™ Gravi-Tech™ Polymer ColorantsTherma-Tech™ Film PolyOne Corporation Page 11Page 11 Target End Markets… Healthcare OnForce TPE + OnForce TPE Vibration Dampening (SEM/GLS) Source: Outdoor Industry Association TPE & Film (SEM + DSS) Thermoplastic Elastomers TPE O F Polymer Colorants (CAI) Thermatech TPE + OnForce OnForce Thermoplastic Elastomers Sheet (DSS) Polymer Colorants (CAI) PolyOne Corporation Page 12 Target End Markets… Outdoor High Performance Sound & Vibration Management Roof Systems Management Interior & Exterior Trim Interior Structural Components Fuel Handling Underhood Components g SystemsAir management Electronics & Cameras Structural Braces & Brackets Lighting Fluid Handling PolyOne Corporation Page 13 Target End Markets… Automotive ColorMatrix™ Amosorb™ ColorMatrix™ Ultimate™ UV Oxygen Scavenger Ultimate UV Light Barrier PreservaPak™ OnColor™ Smart Batch™ OnCap™ Laser Marking Additives VersaFlex™ TPE Cap Liner PolyOne Corporation Page 14 Target End Markets… Packaging Innovation Drives Earnings Growth $53 Research & Development Spending ($ millions) Specialty Platform Vitality Index Progression* 34% CAI & SEM Gross Margin Target ≥ 35% $20 $53 43% *Specialty Platform revenue from products introduced in last five years 2006 2015 2006 20152006 2015 Innovation Pipeline PotentialInnovation Pipeline Potential PolyOne Corporation Page 15 Ours is Not a Cost Cutting Story VolumeCommercial, R&D Adjusted 2,883 Volume (lbs in millions) $192 Commercial, R&D and Marketing Spending ($M) $721 Adjusted Gross Profit ($M) -16% +86% +138% 2,414$103 $303 2006 20152006 2015 2006 2015 PolyOne Corporation Page 16 Design and Service as a Differentiator Right Material & Color Desired Product Design Appropriate Manufacturing Process Connecting Delivering Concept to Commercialization Connecting the Dots with iQ Design Labs and InVisiO Color Design PolyOne Corporation Page 17 CommercializationInVisiO Color Design Customer First Through World-Class Service Strengthening relationships through: Providing LSS services to small/medium sized customers Providing training in Customer Centric Selling Skills with customers On-Time Delivery Commitment to Operational Excellence World’s Best Business Process Excellence Program in 2012* World’s Best Start-up program for Lean Six Sigma Deployment in 2009* 81% 93% 2006 2015 Working Capital % of Sales 16.2% 52% of associates trained in LSS PolyOne Corporation Page 18 2006 2015 Five consecutive years – CFO Magazine Best Working Capital Management in the chemical industry Debt Maturities & Pension Funding 102% Pension Funding** As of 2016年6月30日 $700 $800 Debt Maturities As of 2016年6月30日 ($ millions) 80% 90% $547 $600 $600 $700 70% $500 50% $300 $400 30% 2008 2Q 2016 $200 2022 2023 Coupon Rate: LIBOR + 2 75% 5 250% PolyOne Corporation Page 19 Net Debt / Adjusted EBITDA*= 2.3x ** includes US-qualified pension plans only*TTM 6/30/2016 Coupon Rate: LIBOR + 2.75% 5.250% (3.50%) Free Cash Flow and Strong Balance Sheet Fund Investment / Shareholder Return Expanding our sales, marketing, and technical capabilities Investing in operational Repurchased 17.3 million shares since early 2013 10 0 million shares are Investing in operational and LSS initiatives ~75% of capital expenditures fund growth initiatives Organic Gro th Share Rep rchases 10.0 million shares are available for repurchase under the current authorization Growth Repurchases Acquisitions Dividends Annual Dividend Targets that expand our: • Specialty offerings • End market $0.32 $0.40 $0.48 $0.30 $0.40 $0.50 • End market presence • Geographic breadth Synergy opportunities Adjacent material $0.24 PolyOne Corporation Page 20 $0.16 $ $0.10 2011 2012 2013 2014 2015 2016 solutions Why Invest In PolyOne? 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. Adjusted EPS is calculated as follows: Adjusted EPS 2006Y* 2007Y* 2008Y* 2009Y* 2010Y 2011Y 2012Y 2013Y 2014Y 2015Y Net income (loss) attributable to PolyOne common shareholders $ 130.9 $ 40.9 $ (417.0) $ 106.7 $ 152.5 $ 153.4 $ 53.3 $ 94.0 $ 78.0 $ 144.6 Joint venture equity earnings, after tax (68.5) (26.1) (20.8) (19.0) (14.7) (3.7) — — — — Special items, after tax(1) (51.2) 10.7 457.2 (75.9) (72.5) (72.8) 36.2 32.6 90.5 28.9 Adjusted net income $ 11.2 $ 25.5 $ 19.4 $ 11.8 $ 65.3 $ 76.9 $ 89.5 $ 126.6 $ 168.5 $ 173.5 Diluted shares 92.8 93.1 92.7 93.4 96.0 94.3 89.8 96.5 93.5 88.7 Adjusted EPS $ 0.12 $ 0.27 $ 0.21 $ 0.13 $ 0.68 $ 0.82 $ 1.00 $ 1.31 $ 1.80 $ 1.96 Adjusted EPS Q1 2009* Q2 2009* Q3 2009* Q4 2009* Q1 2010 Q2 2010 Q3 2010 Q4 2010 Net income attributable to PolyOne common shareholders $ 3.3 $ 1.3 $ 51.3 $ 50.8 $ 20.1 $ 44.7 $ 0.1 $ 87.6 Joint venture equity earnings, after tax (8.2) (5.8) (3.0) (2.0) (0.5) (4.5) (6.2) (3.5) Special items, after tax(1) (10.2) 9.2 (36.9) (38.0) (3.8) (22.1) 25.4 (72.0) Adjusted net (loss) income $ (15.1) $ 4.7 $ 11.4 $ 10.8 $ 15.8 $ 18.1 $ 19.3 $ 12.1 Diluted shares 92.2 93.5 93.9 94.4 95.3 96.3 96.3 97.4 Adjusted EPS $ (0.16) $ 0.05 $ 0.12 $ 0.11 $ 0.17 $ 0.19 $ 0.20 $ 0.12 Adjusted EPS Q1 2011 Q2 2011 Q3 2011 Q4 2011 Q1 2012 Q2 2012 Q3 2012 Q4 2012 Net income attributable to PolyOne common shareholders $ 106.0 $ 23.1 $ 16.0 $ 8.3 $ 15.3 $ 18.4 $ 19.4 $ 0.2 Joint venture equity earnings, after tax (3.7) - - - - - - - Special items, after tax(1) (81.3) 1.3 2.8 4.4 6.2 8.9 5.4 15.7 Adjusted net income $ 21.0 $ 24.4 $ 18.8 $ 12.7 $ 21.5 $ 27.3 $ 24.8 $ 15.9 Diluted shares 96.4 95.5 94.0 91.9 90.7 90.7 90.2 90.5 Adjusted EPS $ 0.22 $ 0.26 $ 0.20 $ 0.14 $ 0.24 $ 0.30 $ 0.28 $ 0.18 2 Adjusted EPS Q1 2013 Q2 2013 Q3 2013 Q4 2013 Q1 2014 Q2 2014 Q3 2014 Q4 2014 Net income (loss) attributable to PolyOne common shareholders $ 11.2 $ 38.6 $ 23.2 $ 21.0 $ 29.4 $ 30.9 $ 32.3 $ (14.6) Special items, after tax(1) 17.7 (2.0) 12.3 4.6 12.5 17.4 13.1 47.5 Adjusted net income $ 28.9 $ 36.6 $ 35.5 $ 25.6 $ 41.9 $ 48.3 $ 45.4 $ 32.9 Diluted shares 92.8 99.1 98.1 97.2 95.7 94.3 93.1 91.3 Adjusted EPS $ 0.31 $ 0.37 $ 0.36 $ 0.26 $ 0.44 $ 0.51 $ 0.49 $ 0.36 Adjusted EPS Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Net income attributable to PolyOne common shareholders $ 30.2 $ 66.8 $ 44.5 $ 3.1 $ 39.1 $ 50.0 Special items, after tax(1) 11.4 (15.9) 3.0 30.4 9.1 3.2 Adjusted net income $ 41.6 $ 50.9 $ 47.5 $ 33.5 $ 48.2 $ 53.2 Diluted shares 90.1 89.8 88.4 86.6 85.5 84.7 Adjusted EPS $ 0.46 $ 0.57 $ 0.54 $ 0.39 $ 0.56 $ 0.63 Adjusted operating margin is calculated as follows: Adjusted operating margin Q1 2009* Q2 2009* Q3 2009* Q4 2009* YTD 2009* Q1 2010 Q2 2010 Q3 2010 Q4 2010 YTD 2010 Operating Income $ 9.9 $ 17.1 $ 57.9 $ 52.2 $ 137.1 $ 32.3 $ 58.6 $ 42.0 $ 26.3 $ 159.2 Special items (1) (1.3) 4.6 (27.5) (24.5) (48.7) - (14.5) 5.5 4.2 (4.8) Joint venture equity earnings (12.8) (9.0) (4.8) (3.1) (29.7) (0.8) (7.1) (9.7) (5.5) (23.1) Adjusted operating (loss) income $ (4.2) $ 12.7 $ 25.6 $ 24.6 $ 58.7 $ 31.5 $ 37.0 $ 37.8 $ 25.0 $ 131.3 Sales $ 463.4 $ 496.5 $ 548.3 $ 552.5 $ 2,060.7 $ 604.0 $ 666.2 $ 650.7 $ 585.3 $ 2,506.2 Operating Margin (0.9)% 2.6% 4.7% 4.5% 2.8% 5.2% 5.6% 5.8% 4.3% 5.2% Adjusted operating margin Q1 2011 Q2 2011 Q3 2011 Q4 2011 YTD 2011 Q1 2012 Q2 2012 Q3 2012 Q4 2012 YTD 2012 Operating income (loss) $ 173.4 $ 42.4 $ 33.4 $ (46.2) $ 203.0 $ 37.4 $ 43.3 $ 43.5 $ 13.3 $ 137.5 Special items (1) (127.2) 2.7 4.9 72.9 (46.7) 8.5 11.8 8.3 25.3 53.9 Joint venture equity earnings (5.7) - - - (5.7) - - - - - Adjusted operating income $ 40.5 $ 45.1 $ 38.3 $ 26.7 $ 150.6 $ 45.9 $ 55.1 $ 51.8 $ 38.6 $ 191.4 Sales $ 682.8 $ 723.4 $ 694.0 $ 609.2 $ 2,709.4 $ 745.5 $ 756.6 $ 707.7 $ 651.0 $ 2,860.8 Operating Margin 5.9% 6.2% 5.5% 4.4% 5.6% 6.2% 7.3% 7.3% 5.9% 6.7% 3 Adjusted operating margin Q1 2013 Q2 2013 Q3 2013 Q4 2013 YTD 2013 Q1 2014 Q2 2014 Q3 2014 Q4 2014 YTD 2014 Operating income (loss) $ 40.5 $ 80.7 $ 61.6 $ 48.7 $ 231.5 $ 56.4 $ 49.4 $ 63.6 $ (14.3) $ 155.1 Special items (1) 16.6 (5.2) 10.8 7.8 30.0 22.9 39.8 22.0 80.2 164.9 Adjusted operating income $ 57.1 $ 75.5 $ 72.4 $ 56.5 $ 261.5 $ 79.3 $ 89.2 $ 85.6 $ 65.9 $ 320.0 Sales $ 801.1 $ 1,037.6 $ 1,008.9 $ 923.6 $ 3,771.2 $ 1,002.3 $ 1,005.5 $ 958.4 $ 869.3 $ 3,835.5 Operating Margin 7.1% 7.3% 7.2% 6.1% 6.9% 7.9% 8.9% 8.9% 7.6% 8.3% Adjusted operating margin Q1 2015 Q2 2015 Q3 2015 Q4 2015 YTD 2015 Q1 2016 Q2 2016 Operating income $ 70.1 $ 80.3 $ 69.2 $ 31.3 $ 250.9 $ 71.3 $ 81.5 Special items (1) 9.3 11.9 18.7 31.4 71.3 13.8 10.4 Adjusted operating income $ 79.4 $ 92.2 $ 87.9 $ 62.7 $ 322.2 $ 85.1 $ 91.9 Sales $ 873.1 $ 887.1 $ 841.6 $ 775.8 $ 3,377.6 $ 847.0 $ 861.5 Operating Margin 9.1% 10.4% 10.4% 8.1% 9.5% 10.0% 10.7% Adjusted gross margin is calculated as follows: (In millions) Twelve Months Ended 2015年12月31日 Gross margin - GAAP $ 681.5 Special items in gross margin(1) 39.7 Gross margin before special items $ 721.2 Specialty platform percentage of operating income is calculated as follows: Platform operating income mix percentage 2006Y* Q2 2016 Color, Additives and Inks $ 8.9 $ 38.2 Specialty Engineered Materials 3.9 21.4 Designed Structures and Solutions — 1.0 Specialty Platform $ 12.8 $ 60.6 Performance Products and Solutions 64.2 21.3 Distribution 19.2 17.8 Joint ventures 102.9 — Corporate and eliminations 34.5 (18.2) Operating income GAAP $ 233.6 $ 81.5 Less: Corporate and eliminations (34.5) 18.2 Operating income excluding Corporate $ 199.1 $ 99.7 Specialty platform percentage of operating income excluding corporate 6% 61% 4 Adjusted EBITDA and net debt to adjusted EBITDA is calculated as follows: (In millions) Six Months Ended 2015年6月30日 Twelve Months Ended 2015年12月31日 Six Months Ended 2016年6月30日 Trailing Twelve Months Ended 2016年6月30日 Income from continuing operations, before income taxes $ 116.7 $ 167.7 $ 123.6 $ 174.6 Interest expense, net 32.3 64.1 29.2 61.0 Depreciation and amortization 50.1 104.3 52.4 106.6 Special items, impact on income (loss) from continuing operations before income taxes(1) 21.2 87.6 24.5 90.9 Accelerated depreciation included in special items (0.3) (6.2) (3.2) (9.1) Adjusted EBITDA(2) $ 220.0 $ 417.5 $ 226.5 $ 424.0 Short-term and current portion of long-term debt $ 18.4 Long-term debt 1,126.2 Total Debt 1,144.6 Less: Cash and cash equivalents (161.4) Net Debt $ 983.2 Net Debt / TTM Adjusted EBITDA 2.3 * Historical results are shown as presented in prior filings and have not been updated to reflect subsequent changes in accounting principal, discontinued operations or the related resegmentation
https://www.avient.com/sites/default/files/2024-01/AVNT January IR Presentation_w Non-Gaap Recs.pdf
& Canada 64% 36% Specialty Engineered Materials Color Additives and Inks 40% 37% 18% 9% 4% 4% Building & Energy Telecom Geography Segment Industry 4 CREATING A WORLD-CLASS SUSTAINABLE ORGANIZATION 1. 6% annualized long term sales growth leveraging sustainable solutions, composites, healthcare and emerging regions 2. Avient 2011, 2018 and 2021 multiples reflect trailing 12 months EBITDA at December 31. 28 EV / 2023E EBITDA 6.5 8.5 11.0 10.8 16.1 15.5 14.1 14.0 10.3 21.0 19.0 14.3 12.1 11.8 11.7 11.5 9.7 11 21 23 PM AV FM Avient Historic Multiple Avient Specialty Other Specialty / AP P E N DI X 30 Performance Additives 16% Pigments 12% TiO2 Dyestuffs 2% Polyethylene Nylon Polypropylene Styrenic Block Copolymer Other Raw Materials 33% ~40% hydrocarbon based (Grey shaded materials are hydrocarbon based, includes portion of “Other Raw Materials”) Non-hydrocarbon based materials 2022 pro forma results for the acquisition of Avient Protective Materials RAW MATERIAL BASKET SEGMENT DATA U.S. & Canada 40% 37% 18% 2022 PRO FORMA SEGMENT, END MARKET AND GEOGRAPHY GEOGRAPHY REVENUESEGMENT FINANCIALS Building and END MARKET REVENUE $2,355M $402M $1,300M $272M Sales EBITDA Specialty Engineered Materials Color Additives and Inks $592M$3,653M (1) 9% 32 (1) Total company sales and adjusted EBITDA of $3,653M and $592M, respectively, include intercompany sales eliminations and corporate costs 2022 REVENUE | $2 .4 BILLION US & Canada 34% 38% END MARKET REGION 33 34% 21% Building & 1% Energy 2% COLOR, ADDITIVES & INKS 2022 PRO FORMA REVENUE | $1 .3 BILLION US & Canada 52% 35% 34 19% 8%Industrial 16% 9% Defense Building & END MARKET REGION SPECIALTY ENGINEERED MATERIALS 32% 27% 14% Building & 3% 1% Defense 1% (18% of sales) 9% 2022 PROFORMA AVIENT REGIONAL SALES 27% 14% 17% Building & (37% of sales)Transportation 12% Building & US & Canada (40% of sales) 7% 56% 23% 7% Building & 1% LATAM (5% of sales) 3% 35 BY END MARKET 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. Three Months Ended 2023年9月30日 Three Months Ended 2022年9月30日 Reconciliation to Condensed Consolidated Statements of Income: $ EPS $ EPS Net income (loss) from continuing operations attributable to Avient shareholders $ 5.1 $ 0.06 $ (27.4) $ (0.30) Special items, after tax 32.0 0.35 68.3 0.75 Amortization expense, after-tax 15.2 0.16 $ 13.4 $ 0.14 Adjusted net income / EPS $ 52.3 $ 0.57 $ 54.3 $ 0.59 September 30, Reconciliation to EBITDA and Adjusted EBITDA: 2023 2022 Sales - GAAP $ 753.7 $ 823.3 Pro Forma APM adjustments — 60.7 Pro forma adjusted sales $ 753.7 $ 884.0 Net income from continuing operations – GAAP $ 5.1 $ (27.8) Income tax (benefit) expense (0.1) (1.2) Interest expense, net 30.3 37.3 Depreciation and amortization 46.4 39.8 EBITDA from continuing operations $ 81.7 $ 48.1 Special items, before tax 43.2 82.0 Interest expense included in special items (2.2) (10.0) Depreciation and amortization included in special items — (0.8) Adjusted EBITDA $ 122.7 $ 119.3 Pro forma APM adjustments — 17.2 Pro forma adjusted EBITDA $ 122.7 $ 136.5 Pro forma adjusted EBITDA as a % of sales 16.3 % 15.4 % 1 Year Ended December 31, Reconciliation to EBITDA and Adjusted EBITDA: 2006 2018 Sales $ 2,622.4 $ 3,533.4 Net income from continuing operations – GAAP $ 133.5 $ 160.8 Income tax expense 29.7 36.4 Interest expense, net 63.1 62.8 Depreciation and amortization 57.1 91.5 EBITDA from continuing operations $ 283.4 $ 351.5 Special items, before tax (34.0) 59.5 Depreciation and amortization included in special items — (3.0) JV - equity income (107.0) — Adjusted EBITDA $ 142.4 $ 408.0 Adjusted EBITDA as a % of sales 5.4 % 11.5 % Reconciliation to EBITDA and Adjusted EBITDA: 2022年12月31日 Net loss from continuing operations – GAAP $ (16.6) Income tax benefit (60.8) Interest expense, net 49.4 Depreciation and amortization 48.6 EBITDA from continuing operations $ 20.6 Special items, before tax 104.3 Interest expense included in special items (16.0) Depreciation and amortization included in special items (1.5) Adjusted EBITDA $ 107.4 Reconciliation of Pro Forma Adjusted Earnings per Share: Three Months Ended 2022年12月31日 Net loss from continuing operations attributable to Avient shareholders $ (17.0) Special items, after tax 38.3 Amortization expense, after-tax 14.6 Adjusted net income from continuing operations excluding special items 35.9 Pro forma adjustments* 2.5 Pro forma adjusted net income from continuing operations attributable to Avient shareholders $ 38.4 Weighted average diluted shares 91.7 Pro forma adjusted EPS - excluding special items pro forma for APM acquisition $ 0.42 * Pro forma adjustment to reflect APM results for the period before Avient ownership including the impacts of debt financing and paydown of debt with net proceeds from the Distribution sale. 2 AVNT January IR Presentation.pdf Avient corporation�investor presentation DISCLAIMER Slide Number 3 Creating a world-class�sustainable organization Top-tier sustainability performance�and recognition What we do: We are a formulator Slide Number 7 Avient protective materials �First Year Slide Number 9 Slide Number 10 Slide Number 11 Slide Number 12 Slide Number 13 Slide Number 14 Slide Number 15 Slide Number 16 Slide Number 17 Slide Number 18 Slide Number 19 Slide Number 20 Slide Number 21 Slide Number 22 Slide Number 23 Slide Number 24 Slide Number 25 Avient is asset light Free cash flow conversion Multiple expansion Slide Number 29 Slide Number 30 Slide Number 31 2022 pro forma segment, end market and Geography Color, Additives & Inks Specialty Engineered Materials Slide Number 35 IR Deck - AVNT-2023.09.30 Non GAAP Recs.pdf Attachment