https://www.avient.com/sites/default/files/2021-06/avient-ir-presentation-june-2021-w-non-gaap-recs_0.pdf
S U S TA I NA B I L I T Y • Most recent Sustainability report substantially expanded disclosure on key environmental and social topics Develop and implement solutions to end plastic waste while supporting AEPW $1.5B investment in key initiatives. 2 0 3 0 S U STA I NA B I L I T Y TA RG E TS 11 F U T U R E G ROW TH I N E XC E S S O F G D P I S D R I V E N B Y: Our company is positioned to sustainably grow at a rate that exceeds GDP. With the Clariant Masterbatch acquisition and divestment of the PP&S business, our exposure is now concentrated in less-cyclical and high-growth markets, with increased geographic diversification and a more specialized portfolio that can significantly expand EBITDA margins. 28 Avient reflects 2021 estimated EBITDA of $560M O U R VA LUATI O N V E R S U S P E E R S Avient Specialty Formulators Other Chemical/Specialty Companies 10.4 18.2 16.0 15.5 15.3 11.3 11.0 29.7 26.5 23.5 18.2 13.4 11.9 11.9 11.7 10.5 10.4 10.3 10.1 9.7 7.7 6.5 A vi e n t K W R A V Y P P G R P M F U L G C P H X L A L B E C L IF F F M C B N R A S H G R A E M N F O E S C L U N V R C E K R A H U N Median: 11.7xMedian: 15.4x S U M M A RY: W H Y I N V E S T I N AV I E N T ?
https://www.avient.com/sites/default/files/2022-03/AVNT Mar 2022 Presentation.pdf
Microsoft PowerPoint - AVNT Mar 2022 Presentation AVIENT CORPORATION I N V E S T O R M E E T I N G S (NYSE: AVNT) M A R C H 2 0 2 2 D I S C L A I M E R 2 Forward-Looking Statements In this presentation, statements that are not reported financial results or other historical information are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. D is t. ) K W R P P G F U L R P M A V Y F M C H U N H X L S C L E C L E M N C E A S H Source: Peer data per Bloomberg market data as of 2022年2月15日. O U R VA LUATI O N V E R S U S P E E R S Avient Specialty Formulators Other Chemical/Specialty Companies 5.4 8.5 10.1 10.0 15.7 15.0 14.2 12.7 10.2 25.0 19.7 17.7 13.2 12.3 10.0 9.9 8.9 8.5 8.3 6.6 A vi e n t (2 0 1 1 ) A vi e n t (2 0 1 6 ) A vi e n t (2 0 2 1 ) A vi e n t (T o d a y) R P M K W R P P G A V Y F U L A L B E C L H X L A S H F M C B N R E M N U N V R C E S C L H U N Historic Multiple S U M M A RY: W H Y I N V E S T I N AV I E N T ?
https://www.avient.com/sites/default/files/2022-08/AVNT Aug 2022 Presentation - Jefferies.pdf
AVIENT CORPORATION I N V E S T O R P R E S E N T A T I O N (NYSE: AVNT) A U G U S T 2 0 2 2 D I S C L A I M E R 2 Forward-Looking Statements Certain statements contained in or incorporated by reference into this presentation constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. AVIENT: WHO WE ARE 38 21 9 34 • U.S. and Canada • Latin America • Europe, Middle East & Africa • Asia 25,000+ CUSTOMERS Headquartered in Avon Lake, OH (Cleveland) 8,800+ employees 100+ manufacturing plants Key Financial Data 2022E Sales $5.1 billion 2022E EBITDA $635 million 2022E EPS $3.50 >70% ARE CUSTOMIZED SOLUTIONS TO UNIQUE SPECIFICATIONS of sales 3 W H O W E A R E – V I S I O N , S T R AT E G Y, C U LT U R E 4 Avient Corporation (NYSE: AVNT) provides specialized and sustainable material solutions that transform customer challenges into opportunities, bringing new products to life for a better world. Annual Purchases RAW MATERIAL AND SUPPLY CHAIN UPDATE Based on 2021 purchases, excludes Distribution business D Y N E E M A A C Q U I S I T I O N 32 15x stronger than steel Reduces weight by 30% vs. other solutions Well-maintained global asset base poised to serve growing demand • Purchase price of $1.48B represents 11.4x multiple of 2022 EBITDA • Acquisition will expand Avient’s composites and fiber portfolio with Dyneema®, the World’s Strongest Fiber™ • $415M sales and 30%+ EBITDA margins; Immediately accretive to pro forma 2022 EPS, adding $0.35 • 1,300 patents globally, ~50% of sales patent protected • 1,000+ employees across global production network and dedicated technology centers • Composites platform will increase from $261M to $680M in revenue and from $49M to $180M in EBITDA Indicates Dyneema ® location $175M (42%) $65M (16%) $175M (42%) 2022E Sales By Region ($M) (1) $0.35 EPS excludes intangible amortization (2) Based on 2022 expected results (1) (2) (2) F I T W I T H F O U R P I L L A R S T R AT E G Y 33 Specialization • Innovation-led organization with tremendous intellectual property value in trademarks, patents and “know-how” • Deep history of application development and premium, leading brand with the World’s Strongest FiberTM Globalization • Global customer base with an established presence across all major geographic regions • Global technology centers complement existing Composites applications and expertise Operational Excellence • Best-in-class safety performance • Well-run and maintained asset base fit to serve future growth • Highly effective and reliable supply chain with emphasis on optimizing service to customers Commercial Excellence • Deep customer relationships extend across the value chain and drive ability to grow • Offer a full suite of services with an active role in design, development and commercialization People Experienced and talented associates with a passion for safety, specialization and winning DY N E E M A ® OV E RV I E W K E Y I N D U S T R I E S PERSONAL PROTECTION Military • Law Enforcement • First Responders Body Armor • Helmets • Vehicle Protection $215M MARINE & SUSTAINABLE INFRASTRUCTURE Towing / Mooring • Aquaculture • Floating Wind • Offshore Cranes $130M CONSUMER Consumer • Outdoor High Performance • Safety Equipment $70M 34 Figures reflect 2022 expected sales MIFOverview Competition Value chain & Go-to-market Strategy Innovation Financials TECHNOLOGY 35 1,200 1,300 2,500 Avient Dyneema Combined Patents • True specialty business – the World’s Strongest Fiber™ • Deep history of application development with customers, strongest in the industry • The only UHMwPE (ultra-high molecular weight polyethylene) fiber producer that is backward integrated o Provides innovation advantage through control of all steps of the process • Complementary with our existing reinforced film expertise (PolyStrand) and engineered fiber presences (Fiber-Line) WINNING PROPERTIES Ultra high strength vs. weight Highly flexible Floats on water Chemically inert; no smell/taste and non-toxic High resistance to UV radiation Self-lubricating, with low friction One-of-a-kind technology ® FORMULATION PROCESS 36 • Like Avient, Dyneema® offers similar core competencies around formulation and material science • Technology that combines polymers and fibers to provide specialized, high performing solutions for customers • Design capabilities ensure that applications are highly customized for the specified end use DYNEEMA ® IN THE VALUE CHAIN 37 UHMwPE Fiber / Tapes Military Personnel, Law Enforcement Heavy Marine, Offshore Wind Energy and Mooring, Aquaculture Outdoor, Footwear, Apparel, Inflatables • Material Science • Formulation • Service INTERMEDIATE MANUFACTURING (CUSTOMERS) OEM / APPLICATION DEMAND TRENDS 38 • Military spending and near-term demand for higher performing personal protection products (like Dyneema®) expected to increase o European NATO members annual defense spend expected to increase by up to 20%(1) o Japan aiming to almost double defense spending over the next 5 years(2) o Accelerated launch of next generation technology in North America • Policy-driven demand for sustainable energy; growth in floating offshore wind farms which require advanced, durable technology o Offshore wind expected to grow at a CAGR of 32% with the level of annual installations quadrupling over the next five years(3) • Continued investment in aquaculture as a sustainable food source(4) • Strong demand in outdoor high performance space across niche consumer applications aligns with 10% growth assumption for Avient’s Composites portfolio Sources: (1) “Funding NATO”, NATO.int (2022年4月1日) (2) “Japan Ruling Party Calls for Defense Spending Boost to 2% of GDP”, WSJ (2022年4月21日) (3) “Global Wind Report 2021”, Global Wind Energy Council (4) “Aquaculture Supports a Sustainable Earth”, NOAA Fisheries 39 A L I G N M E N T W I T H S U S T A I N A B I L I T Y G O A L S P RO D U C T S AVIE NT ’S E XIS T ING COM P OS IT E S P ORT F OL IO D I V E R S E C A P A B I L I T I E S A N D S O L U T I O N S S E R V I N G M A N U F A C T U R E R S A N D O E M S LFT Tapes Laminates/Panels Shapes Pultrusion Engineered Fibers 40 AV I E N T ’ S C O M P O S I T E S P O RT F O L I O S A L E S A N D E B I T DA 41 $74 $84 $216 $212 $261 $5 $10 $32 $41 $49 $180 0 50 100 150 200 $- $50 $100 $150 $200 $250 $300 $350 $400 $450 $500 $550 $600 $650 $700 $750 2017 2018 2019 2020 2021 2022E $680 ($ in millions) • Dyneema® acquisition will further improve Composites EBITDA margins to 26% • Dyneema® will complement our existing portfolio with deep formulation expertise, innovative culture and global commercial presence • Composites will continue to be a key growth driver to deliver future revenue growth in excess of GDP (1) Pro forma for the acquisition of Dyneema® (1) SEGMENT DATA U.S. & Canada 50% EMEA 25% Asia 16% Latin America 9% 2021 SEGMENT, END MARKET AND GEOGRAPHY GEOGRAPHY REVENUESEGMENT FINANCIALS Consumer 23% Packaging 19% Industrial 16% Building and Construction 10% Telecommunications 4% Energy 2% END MARKET REVENUE (1) Total company sales and adjusted EBITDA of $4,819M and $581M, respectively, include intercompany sales eliminations and corporate costs $2,402M $409M $919M $164M $1,631M $94M Sales EBITDA Distribution Specialty Engineered Materials Color Additives and Inks $581M$4,819M (1) Transportation 11% Healthcare 15% 43 Packaging 34% Consumer 21% Healthcare 8% Industrial 16% Building & Construction 10% Transportation 9% Energy 1% Telecommunications 1% C O L O R , A D D I T I V E S & I N K S 2 0 2 1 R E V E N U E | $ 2 . 4 B I L L I O N US & Canada 32% EMEA 40% Asia 21% Latin America 7% END MARKET REGION 44 All charts reflect 2021 financials 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 Consumer 27% Healthcare 10% Packaging 7% Telecommunications 16% Transportation 11% Industrial 11% Building & Construction 11% Energy 7% 2 0 2 1 R E V E N U E | $ 9 1 9 M I L L I O N END MARKET US & Canada 55% EMEA 25% Asia 20% REGION 45 All charts reflect 2021 financials D I S T R I B U T I O N Healthcare 26% Consumer 23% Packaging 5% Industrial 20% Transportation 16% Building and Construction 8% Energy 1% Telecommunications 1% US & Canada 80% Asia 3% Latin America 17% END MARKET REGION K E Y S U P P L I E R S 2 0 2 1 R E V E N U E | $ 1 . 6 B I L L I O N 46 All charts reflect 2021 financials T O T A L C O M P A N Y R E G I O N A L S A L E S B Y E N D M A R K E T Packaging 30% Consumer 26%Healthcare 13% Industrial 14% Building & Construction 5% Telecommunications 2% Energy 2% Asia (16% of sales) Transportation 8% Packaging 32% Consumer 13% Healthcare 5% Industrial 17% Building & Construction 12% Telecommunications 5% Energy 4% EMEA (25% of sales) Transportation 12% 47 Consumer 25% Healthcare 19% Packaging 10% Industrial 17% Building & Construction 10% Telecommunications 4% Energy 2% US & Canada (50% of sales) Transportation 13% Packaging 38% Consumer 33% Healthcare 8% Industrial 10% Building & Construction 5% Telecommunications 1% LATAM (9% of sales) Transportation 5% All charts reflect 2021 financials Reconciliation of Non-GAAP Financial Measures (Unaudited) (Dollars in millions, except for per share data) Senior management uses comparisons of adjusted net income from continuing operations attributable to Avient shareholders and diluted adjusted earnings per share (EPS) from continuing operations attributable to Avient shareholders, excluding special items, to assess performance and facilitate comparability of results.
https://www.avient.com/sites/default/files/2020-07/case-study-one-pager-gravi-tech-luxury-closures-english.pdf
L E A D I N G P R O D U C E R O F C L O S U R E S F O R S P I R I T S L U X U R Y C L O S U R E S • Replace metal while providing metallic look and feel • Customization of density and color • Easy processing • FDA compliance • Replaced metal with a weighted polymer solution to maintain high-quality perception • Minimized the appearance of chips from everyday wear better than metal by matching closure interior and metalized coating colors • Enabled the customer to introduce their luxury closures to a new market segment Gravi-Tech™ Density Modified Formulation KEY REQUIREMENTS WHY AVIENT?
https://www.avient.com/sites/default/files/2020-10/hiformer-case-study.pdf
C A S T A N D B L O W N F I L M L E A D I N G PAC K AG I N G F I L M S U P P L I E R • Improve quality, limiting melt fracture and die built up • Increase productivity, reducing cleaning frequency • More sustainable manufacturing process • Regulatory compliance HIFORMER™ Liquid Polymer Processing Aid AV I E N T S O L U T I O N • Increased processing efficiency and overall productivity with low let down ratio • Delivered significant improvement in melt fracture and die build up • Sustainability benefits provided, including possibility for longer production runs, reduced energy consumption and less waste W H Y AV I E N T K E Y R E Q U I R E M E N T S P R O D U C T I V I T Y + S U S T A I N A B I L I T Y L E A R N M O R E
https://www.avient.com/sites/default/files/2021-02/avient-ir-presentation-goldman-sachs-and-morgan-stanley.pdf
Microsoft PowerPoint - Avient February IR Meetings AVIENT CORPORATION (NYSE: AVNT) F E B R U A R Y 1 7 - 1 8 , 2 0 2 1 I N V E S T O R M E E T I N G S H O S T E D B Y G O L D M A N S A C H S A N D M O R G A N S T A N L E Y D I S C L A I M E R 2 Forward-Looking Statements In this presentation, statements that are not reported financial results or other historical information are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. W H AT W E D O : M AT E R I A L S C I E N C E 5 CUSTOM FORMULATION We sell solutions not commodities. With the Clariant Masterbatch acquisition and divestment of the PP&S business, our exposure is now concentrated in less-cyclical and high-growth markets, with increased geographic diversification and a more specialized portfolio that can significantly expand EBITDA margins. 27 Avient reflects 2021 estimated EBITDA of $510M O U R VA LUATI O N V E R S U S P E E R S Avient Specialty Formulators Other Chemical/Specialty Companies 9.5 21.1 13.2 13.2 12.0 12.0 9.7 25.2 23.1 14.7 13.5 12.9 11.0 11.0 11.0 10.2 9.6 9.3 9.3 9.1 8.6 8.3 A vi e n t K W R A V Y R P M G C P P P G F U L A L B E C L H X L IF F F M C G R A B N R F O E A S H C E S C L U N V R E M N H U N K R A Median: 11.0xMedian: 12.6x S U M M A RY: W H Y I N V E S T I N AV I E N T ?
https://www.avient.com/sites/default/files/2021-05/avnt-first-quarter-2021-earnings-presentation.pdf
Microsoft PowerPoint - Avient Q1 2021 Earnings - Final (For Print) AVIENT CORPORATION F I R S T Q U A R T E R 2 0 2 1 R E S U L T S (NYSE: AVNT) A P R I L 3 0 , 2 0 2 1 D I S C L A I M E R 2 Forward-Looking Statements In this presentation, statements that are not reported financial results or other historical information are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Free cash flow conversion calculated as (EBITDA – Capex) / EBITDA Median: 84% Median: 77% H I G H F R E E C A S H F L OW C O N V E R S I O N Avient reflects 2021 estimated EBITDA of $560M and excludes one-time synergy capture CAPEX ($20M) Source: Peer data per Bloomberg market data as of 2021年4月27日 87 89 87 86 82 81 76 88 87 84 82 81 78 77 77 77 76 73 70 69 50 19 A vi e n t K W R P P G R P M A V Y F U L G C P F M C IF F H X L U N V R E C L A S H C E B N R F O E E M N G R A H U N K R A S C L A L B Source: Peer data per Bloomberg market data as of 2021年4月27日 Total Enterprise Value / 2021E EBITDA Our current valuation with updated guidance implies an EBITDA multiple that is below specialty formulator peers and the majority of our chemical peers. With the Clariant Masterbatch acquisition and divestment of the PP&S business, our exposure is now concentrated in less-cyclical and high-growth markets, with increased geographic diversification and a more specialized portfolio that can significantly expand EBITDA margins. 20 Avient reflects 2021 estimated EBITDA of $560M O U R VA LUATI O N V E R S U S P E E R S Avient Specialty Formulators Other Chemical/Specialty Companies 10.2 17.7 16.0 14.9 14.6 11.6 11.1 26.7 24.0 22.8 14.3 12.7 11.5 11.2 11.1 11.0 10.3 10.1 9.5 9.4 8.3 7.0 A vi e n t K W R A V Y R P M P P G G C P F U L A L B H X L E C L IF F F M C B N R A S H G R A F O E S C L E M N U N V R C E K R A H U N Median: 11.1xMedian: 14.8x S U M M A RY: W H Y I N V E S T I N AV I E N T ?
https://www.avient.com/sites/default/files/2020-09/case-study-one-pager-gls-om-bergamid-victorinox-pen-knife-1.pdf
VICTORINOX S W I S S S O L D I E R ’ S K N I F E Transition from metal to polymer handle that would be more ergonomic and provide: • Scratch and chemical resistance • Impact resistance and durability • A grippy, soft-touch feel • Collaborated with the customer to fully understand and meet their design challenges and goals • Used design and material expertise to develop a customized two-material solution that met all key requirements • Enabled the customer to produce a new, innovative product appealing to its consumers Bergamid™ nylon copolymer overmolded with GLS™ TPE KEY REQUIREMENTS WHY AVIENT?
https://www.avient.com/sites/default/files/2022-09/Omnicolor Safety Equip Application Snapshot.pdf
S A F E T Y E Q U I P M E N T M A N U FAC T U R E R R E S P I R A T O R A C C E S S O R Y P A R T S • Black color concentrate suitable for use in butyrate (PSU) • Low let down ratio (LDR) • Quick turnaround time • Offered compatibility with desired resin system in required color (Deep Black – OC9UFA) • Provided low usage rate of 1% LDR • Afforded immediate availability of sample for testing and ordering Omnicolor™ Multipurpose Colorants KEY REQUIREMENTS WHY AVIENT?
https://www.avient.com/sites/default/files/2023-01/AVNT Dec 2022 Earnings Presentation.pdf
Microsoft PowerPoint - AVNT Nov 2022 Earnings Presentation AVIENT CORPORATION I N V E S T O R P R E S E N T A T I O N (NYSE: AVNT) D E C E M B E R 2 0 2 2 AVI ENT: WHO WE A RE 40 23 9 36 • U.S. and Canada • Latin America • Europe, Middle East & Africa • Asia 25,000+ CUSTOMERS Headquartered in Avon Lake, OH (Cleveland) 9,300+ employees 100+ manufacturing plants Key Financial Data 2022PF Sales $3.6 billion 2022PF EBITDA $585 million 2022PF EPS $2.95 100% ARE CUSTOMIZED SOLUTIONS TO UNIQUE SPECIFICATIONS of sales 2 Guidance as of 2022年11月2日 Webcast W H O W E A R E – V I S I O N , S T R AT E G Y, C U LT U R E 3 Avient Corporation (NYSE: AVNT) provides specialized and sustainable material solutions that transform customer challenges into opportunities, bringing new products to life for a better world. Global Compact & fulfilled Communication of Progress (COP) requirements • New Sustainability Strategy overview page including our 2022 AIP ESG metrics • New ESG Performance page with ESG ratings, awards, and certifications • Increased disclosures on carbon emissions, including disclosure of Climate Change Scenario Analysis • Added new Product Stewardship and Chemical Management policies • Enhanced data reporting for Workforce Demographics • Improved social disclosures on human rights, dependent care and special leave and strategic training management 20 21 SUSTAI NA BILI TY REPORT Launching integrated sustainability website in parallel with report Aligned with leading reporting frameworks 6 Released July 2022 E S G R AT I N G S P E R F O R M AN C E E S G AWA R D S AN D C E R T I F I C AT I O N S ESG PER FORMANCE & A WAR DS 84th 3 1 2 7 T R A N S F O R M A T I O N A L O V E R V I E W Avient Protective Materials Dyneema ® RECENT TRANSAC TIONS Acquired Divested $1.45 B $0.95 B 9 Distribution UPDATED CA PI TAL STRUC TURE & LI QUI DI TY • Proceeds from completed sale of Distribution used to pay near-term maturing debt to strengthen balance sheet • Fixed/floating debt ratio of ~55/45 • Proven track record of deleveraging following major acquisitions through strong free cash flow generation • 2022 pro forma net debt/adjusted EBITDA expected to be 3.1x $725 $725 $575 $500 $600 $525 $650 $650 $600 Capital Structure Cas h $544 Undr awn Rev olve r $250 Liquidity $3.15B $2.40B 2030 Notes 2029 Term Loan 2026 Term Loan 2025 Notes 2023 Notes After Dyneema Acquisition After Distribution Divestiture $794M (1) (1) $250M reflects estimated undrawn revolver following the divestiture of Distribution 10 PREVI OUS TR ANSACTIONS Performance Solutions Products & $0.8 B COLOR $1.4 B Acquired (2020)Divested (2019) 11 • Acquisition of Clariant Color business significantly expanded presence in healthcare, packaging and consumer end markets • Strength of portfolio – double-digit annual EBITDA growth since acquisition • $75 million of realized synergies anticipated in 2022 • Acquisition completed on 2020年7月1日 for $1.45 billion. Sales EBITDA Specialty Engineered Materials Color Additives and Inks $585M$3,635M (1) Transportation 9% Healthcare 8% 29 C O L O R , A D D I T I V E S & I N K S 2 0 2 2 R E V E N U E | $ 2 . 3 B I L L I O N US & Canada 35% EMEA 40% Asia 20% Latin America 5% END MARKET REGION 30 Packaging 33% Consumer 22% Healthcare 9% Industrial 15% Transportation 8% Building & Construction 11% Telecommunications 1% Energy 1% Figures represent 2022 full year estimates 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 2 0 2 2 P R O F O R M A R E V E N U E | $ 1 . 3 B I L L I O N END MARKET US & Canada 50% EMEA 35% Asia 15% REGION 31 Figures represent 2022 full year estimates Packaging 5% Consumer 19% Healthcare 8%Industrial 16% Transportation 10% Telecommunications 10% Energy 9% Defense 15% Building & Construction 8% Packaging 31% Consumer 28% Healthcare 8% Industrial 13% Building & Construction 5% Telecommunications 3% Energy 2% Defense 1% Asia (20% of sales) Transportation 9% 2 0 2 2 P R O F O R M A AV I E N T R E G I O N A L S A L E S B Y E N D M A R K E T Packaging 29% Consumer 13% Healthcare 5% Industrial 17% Building & Construction 11% Energy 5% Defense 7% EMEA (35% of sales) Transportation 10% Packaging 14% Consumer 23% Healthcare 11% Industrial 15% Building & Construction 12% Energy 5% Defense 7% US & Canada (40% of sales) Transportation 7% Packaging 49% Consumer 22% Healthcare 8% Industrial 9% Building & Construction 6% Telecommunications 1% LATAM (5% of sales) Transportation 5% Telecommunications 3% Telecommunications 6% Figures represent 2022 full year estimates32