https://www.avient.com/products/thermoplastic-elastomers/versaflex-thermoplastic-elastomers
Formulated specifically for overmolding onto a wide variety of substrates, including PC/ABS, PA, PS, POM, PMMA, PETG, PK or COPE resins, for improved haptics and function
https://www.avient.com/products/thermoplastic-elastomers/tpe-knowledge-center/overmolding-solutions
Overmolding Nylon/Polyamides (PA)
https://www.avient.com/sites/default/files/2020-03/Global_High_Yield_%26_Leverage_Conference %281%29.pdf
Leverage
PolyOne’s
global reach
Phase 1
Phase 2
Phase 3
18-20%
operating
margins
Invest in
commercial
resources
I N V E S T - T O - G R O W P R O O F O F P E R F O R M A N C E
PolyOne Corporation 24
Commercial
Resources
Operating
Income
($ in millions)
Operating
Margins
256
309
At Acquisition Today
$36
$100
At Acquisition Today
9%
19%
At Acquisition Today
Established Acquisitions
(> 7 years)
+ 20% + 165% + 1000 bps
C L A R I A N T M A S T E R B A T C H A C Q U I S I T I O N D R I V E S
N E X T L E V E L S P E C I A L T Y T R A N S F O R M A T I O N
A C C E L E R A T I N G G R O W T H W I T H
S U S T A I N A B L E S O L U T I O N S
T R A N S F O R M A T I O N H E A D L I N E S
PolyOne Corporation 26
F I T W I T H F O U R P I L L A R S T R A T E G Y
PolyOne Corporation 27
Specialization
• Innovation-led organization with
heavy emphasis on R&D
• World-class expertise in color
formulation
• Strong presence in specialty end
markets including Consumer,
Packaging and Healthcare
Globalization
• Diverse geographic portfolio with
an established presence in every
major region
• Expands PolyOne’s ability to serve
customers in key growth areas
including India, China and
Southeast Asia
Operational
Excellence
• Extensive manufacturing footprint
with 46 facilities
• Organizational focus on optimizing
supply chain to better serve
customers
• Color design expertise
Commercial
Excellence
• Value-focused salesforce with vast
experience marketing and
commercializing specialty
technologies
• Diverse customer portfolio with
established OEM’s
People
Experienced and
talented
associates with a
winning mentality
E N D M A R K E T T R A N S F O R M A T I O N
PolyOne Corporation 28
Building & Construction
5%
2006 2019E PF*
4%
12%
10%
18%
8%
20%
2006 2019E PF*
Healthcare
Consumer
Packaging
50%
22%
High Growth End Markets
Percentage of Total Revenue
38%
* 2019E Pro Forma for PP&S Divestiture and Clariant Masterbatch business
E N D M A R K E T T R A N S F O R M A T I O N
PolyOne Corporation 29
Packaging
8%
Building & Construction
38%
Wire &
Cable
11%
Industrial
10%
Electrical &
Electronic
7%
2006 2019E PF*
Healthcare
4%
Transportation
12%
Consumer
18%
Building &
Construction
5%
Wire &
Cable
6%
Industrial
12%
Electrical &
Electronic
5%
Appliance
3%
Textiles
6%
Transportation
13%
Healthcare
12%
Packaging
20%
Consumer
10%
* 2019E Pro Forma for PP&S Divestiture and Clariant Masterbatch business
C O M P L E M E N T A R Y G E O G R A P H I C P R E S E N C E
PolyOne Corporation 30
United States
38% Europe
33%
Asia
19%
Canada
4%
Latin America
6%
United States
22%
Europe &
Middle East
48%
Asia
23%
Canada
1%
Latin America
6%
Color & Engineered
Materials
Clariant Masterbatch
Business
Net Sales by Geographic Region
United States
31%
Europe &
Middle East
39%
Asia
21%
Canada
3%
Latin America
6%
Pro Forma Color &
Engineered Materials
U N I F I E D F O C U S O N S U S T A I N A B I L I T Y
PolyOne Corporation 31
2006 - 2013
2013 – 2019
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
PolyOne
Clariant Masterbatch
Business
• Building mini-recycling plants to
facilitate customer projects on
design for recycling - CycleWorks
• Uses packaging additives &
colorants to improve recyclability
and enhance automated sorting
• Manufactures oxygen scavengers
to extend shelf-life of perishable
items and reduce material
requirements
• Combines UV-blocking additive
colorants & other barriers to
prevent spoilage and waste
• Offers spin-dyeing solutions that
use significantly less water than
traditional methods, allowing for
sustainable coloration of textiles
• Produces infrared absorbing
additives that reduce energy
requirements for bottle
manufacturing
($ in millions)
PolyOne
(Continuing
Operations)
Clariant Color &
Additive Masterbatch
Business
Synergies
New
PolyOne
2019 Total Sales $2,863 $1,150 $4,013
2019 Adjusted EBITDA $309 $130 $60 $499
% Margin 10.8% 11.3% 12.4%
2019 CapEx $68 $85
% Sales 2.4% 2.1%
2019 Free Cash Flow $161 $250
2019 Adjusted EPS $1.69 $2.22
2019 PF Adjusted EPS $1.69 $2.54
P O L Y O N E + C L A R I A N T M A S T E R B A T C H B U S I N E S S
PolyOne Corporation 32
(1) Excludes step-up of depreciation & amortization related to purchase accounting of transaction
(1)
$0.85/share
O V E R 8 5 % O F A D J U S T E D E B I T D A F R O M S P E C I A L T Y
PolyOne Corporation 33
46%
66%
0%
20%
40%
60%
80%
100%
2005 2010 2015 2019E PF
%
o
f
A
d
ju
s
te
d
E
B
IT
D
A
*
JV's Performance Products & Solutions Distribution Specialty
7%
87%
* Adjusted EBITDA is EBITDA excluding corporate costs and special items
** 2019E Pro Forma for PP&S Divestiture and Clariant Masterbatch business acquisition with synergies
Specialty EBITDA $14M $117M $273M $500M
**
T R A N S A C T I O N O V E R V I E W
• Expected mid-2020, subject to regulatory approvals and customary closing conditions
Closing
Conditions /
Timing
• Committed financing in place
• Permanent financing to be combination of available cash on-hand, new debt and equity component to limit leverage
• Equity issuance of $500MM
• Target net leverage below 3.5x, 3.1x synergized
PolyOne Corporation 36
• $1.45 B net purchase price
• Represents 11.1x adjusted EBITDA (excluding synergies), 7.6x adjusted EBITDA (including synergies)
• Pre-tax synergies of $60MM expected to be fully realized by the end of 2023
• Synergies realized from sourcing, operational, technology / commercial, and general administrative
Transaction
Value
Synergies
Financing
Estimated Synergy Breakdown
$60MM
• Expect EBITDA synergies of $60MM
– Proven integration expertise with a decade of acquisition experience
– Administrative synergies reflect reduction of duplicative internal and
third-party costs
• Run rate synergies of $20MM by the end of Year 1 with $60MM
achieved by the end of Year 3
• Significant additional opportunity for geographical expansion
– Clariant Masterbatch business has complementary regional presence
in key growth areas including India & Southeast Asia
• Opportunity to accelerate growth with a combined portfolio of
innovative solutions aligned with sustainability megatrends
Sourcing
40%
Operational
30%
Administrative
30%
PolyOne Corporation 37
S I G N I F I C A N T S Y N E R G Y O P P O R T U N I T I E S
$450
$600 $624
$743
2019 2020 2021 2022 2023 2024 2025 2026
A T T R A C T I V E F I N A N C I N G S T R U C T U R E
Attractive Debt
Maturity Profile
Existing Revolver Existing Senior Notes Existing Term Loan B
New Debt
Financing
Financing
Summary
Terms on
New Debt
• $465 million of cash from the balance sheet expected to fund a portion of the purchase price
• Bridge financing for remainder fully committed from Citi, Morgan Stanley and Wells Fargo
• Permanent financing expected to include a combination of long-term debt and new equity
• The timing of the permanent financing is subject to a number of factors, including, but not limited
to, market conditions
• PolyOne is committed to preserving a strong balance sheet
– Target net leverage at close below 3.5x, excluding synergies
• Pro forma capital structure positions PolyOne with flexibility to pursue continued growth strategy
• New financing expected to have same or better covenant package than existing capital structure
• Capital structure would be “covenant lite”
Capital
Policy
• Transaction in line with PolyOne’s disciplined capital allocation policy
• Existing PolyOne dividend policy to be maintained
• Focus on deleveraging in the near term
2028+
PolyOne Corporation 38
PolyOne Corporation 37
$0.16
$0.20
$0.24
$0.32
$0.40
$0.48
$0.54
$0.70
$0.78
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
Cumulative Share Repurchases
(In millions)
$0
$150
$300
$450
$600
$750
$900
2011 2012 2013 2014 2015 2016 2017 2018 2019
$917M
R E T U R N I N G C A S H T O S H A R E H O L D E R S
O V E R $ 1 . 2 B I L L I O N S I N C E 2 0 1 1
PolyOne Corporation
Increasing Annual Dividend
38
$0.81
PolyOne Corporation 39
W H Y I N V E S T I N P O L Y O N E ?
https://www.avient.com/sites/default/files/2021-09/avient2020sustainabilityreport-9-2-21.pdf
Ahrensburg, Germany 66.
Total Waste to Landfill
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2016 2017 2018 2019* 2020* 2019* 2020* 2030 Goal
M
e
tr
ic
T
o
n
s
17%
DECREASE FROM 2019
Waste to Landfill
HOME | Contents | Message from the CEO | Who We Are | People | Products | Planet | Performance | Metrics | Index
Sustainability Report | 2020 66
Eliminating Plastic Waste
Plastic is a miraculous, versatile material that positively impacts our world.
1) 2019 and 2020 figures are pro forma to include a full year of the
acquired Clariant Masterbatch business
(2) 2021 EPS figure reflects management guidance as of July 30, 2021
earnings call
4%
8%
10%
15%
21%
23%
** 2020 Pro Forma for Clariant Masterbatch acquisition
0
10
20
30
40
50
60
He
alt
hc
ar
e
High Growth End Markets
2006 2020 PF**
22%
58%
E
n
d
M
a
rk
e
t
R
e
v
e
n
u
e
a
s
a
%
o
f
T
o
ta
l
Co
ns
um
er
Pa
ck
ag
ing
0%
20%
40%
60%
80%
100%
0%
20%
40%
60%
80%
100%
2005 2010 2015 2020 PF**
$14M $117M $273M $527M
Adjusted EBITDA* from Specialty Platform
%
o
f
A
d
ju
st
e
d
E
B
IT
D
A
*
Specialty EBITDA
DistributionJV’s Performance
Products & Solutions
Specialty
Applications
* Adjusted EBITDA is EBITDA excluding corporate costs and special items
** 2020 Pro Forma for Clariant Masterbatch acquisition
7%
46%
87%
66%
A Specialty Transformation Poised for Future Growth
0
10
20
30
40
50
60
Building & Construction
2006 2020 PF**
38%
9%
E
n
d
M
a
rk
e
t
R
e
v
e
n
u
e
a
s
a
%
o
f
T
o
ta
l
����
����
����
����
����
Adjusted EPS Growth
2019PF(1) 2020PF(1) 2021F(2)
$1.93
$3.00
$1.74
31%
CA
GR
HOME | Contents | Message from the CEO | Who We Are | People | Products | Planet | Performance | Metrics | Index
Sustainability Report | 2020 74
https://www.avient.com/company/policies-and-governance/code-conduct
*Avient Sustainable Solutions definitions aligned with F TC 2012 Guide for the Use of Environmental Marketing Claims (“Green Guides”)
**2020 is Pro forma to include full year of the Clariant Masterbatch business
2016 2017 2018 2019 2020PF**
Revenue from Sustainable Solutions* 2016–2020
Lightweighting
Recycle Solutions
VOC Reduction
Human Health &
Safety
Reduced Energy Use
Bio-polymers
Eco-conscious
Sustainable
Infrastructure
Sustainable Solutions
Performance
As highlighted in our Products section, Avient has
a highly-technical and broad portfolio of material
solutions that help our customers—and our planet—
be more sustainable.
https://www.avient.com/news/polyone-announces-second-quarter-2014-results
66
https://www.avient.com/sites/default/files/resources/Investor%2520Day%2520-%2520May%25202018.pdf
Patterson
Chairman, President and CEO
I N T R O D U C T I O N
B O B P A T T E R S O N
PolyOne Corporation 7
PolyOne Corporation 8
H I S T O R I C P A S T
I N S P I R E D F U T U R E
S U S T A I N A B I L I T Y A T P O L Y O N E
PolyOne Corporation 9
P E O P L E P R O D U C T S P L A N E T
S A F E T Y F I R S T
PolyOne Corporation 10
1.3
1.1 1.1
0.85
0.65
0.57
0.54
0.97
0.84
0.74 0.74
0.69
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
Injuries per 100 Workers
Spartech
Acquisition
T H E P O L Y O N E A C A D E M Y
PolyOne Corporation 11
Leadership Program Participants
2012
2013
2014
2015
47
0
86
2016
2017
125
169
216
Campus Hires
2008
2011
2014
2017
0
25
90
47
S U S T A I N A B L Y I M P A C T I N G D I V E R S E E N D M A R K E T S
PolyOne Corporation 12
With emphasis on:
• Light-weighting
• Reducing packaging materials
• Improving recyclability
• Reducing spread of infection
• Facilitating alternative energy
solutions
Transportation
18%
Industrial
16%
Building &
Construction
12%
Consumer
12%
Packaging
11%
Healthcare
11%
Wire & Cable
9%
Electrical &
Electronics
6%
Appliance
5%
P R O D U C T S A N D P O R T F O L I O O P T I M I Z A T I O N
PolyOne Corporation 13
R E I N V E S T G R O WD I V E S T ( D S S )
O U R P L A N E T
PolyOne Corporation 14
Energy
Saving Projects
26
10%
REDUCTION
47
11%
REDUCTION
Waste
Reduction Projects
2,557
LSS Projects
Executed
202
PolyOne LSS
Blackbelts
2011
2014
2017 202
2008
147
67
0
0
2,557
2008 2017
S U S T A I N A B I L I T Y A T P O L Y O N E
PolyOne Corporation 15
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
2009 2010 2011 2012 2013 2014 2015 2016* 2017*
A D J U S T E D E P S E X P A N S I O N
C O N S E C U T I V E
Y E A R S
PolyOne Corporation 16
8
$0.13
$0.68
$0.82
$1.00
$1.31
$1.80
$1.96
$2.06
$2.21
*Pro Forma for sale of DSS
E A R L Y Y E A R S D E F I N E D B Y S P E C I A L T Y
M I X I M P R O V E M E N T
PolyOne Corporation 17
2%
65%
2005 2014
$5M $242M
+ 25%
+ 33%
Specialty OI
% of Operating Income
C O M M O D I T Y P R U N I N G
H E L D O R G A N I C S A L E S F L A T
PolyOne Corporation 18
2010 2011 2012 2013 2014
Acquisitions
Organic
Revenue
531
680130
153
504
618
2014 Q1 2018
R&D / Technical Marketing Sales
I N V E S T M E N T I N C O M M E R C I A L R E S O U R C E S D R I V I N G R E S U L T S
PolyOne Corporation 19
Increased commercial headcount
Largest organic revenue growth
since recession
$2.9 $2.9
$3.2
2015 2016 2017
Revenue in billions of $
+ 28%
+ 18%
+ 23%
Total + 10%
Organic + 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 20
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 6-8% annually
Double acquired
company margins
Enhance efficiencies
through Lean Six Sigma
and commercial excellence
5.0%
14.0%
15.0%
16-17%
2006 2017 Platinum Vision Updated Expectations
R A I S I N G T H E B A R
R O I C D R I V E S S H A R E H O L D E R R E T U R N
PolyOne Corporation 21
C O M M E R C I A L
E X C E L L E N C E
PolyOne Corporation 22
M I C H A E L G A R R A T T
C O M M E R C I A L
R E S O U R C E S
I N N O V A T I O NS E R V I C E
S T R A T E G I C I N V E S T M E N T I N 3 K E Y A R E A S
PolyOne Corporation 23
531
680130
153
504
618
2014 Q1 2018
R&D / Technical Marketing Sales
K E Y C O M M E R C I A L I N V E S T M E N T S
PolyOne Corporation 24
Increased commercial headcount
+ 28%
+ 18%
+ 23%
Generating opportunities
35% more sales calls
25% more marketing campaigns
1,000 new customers, expanding
customer base by 5%
$1.0B increase in new opportunities
Enhancing efficiency
8% reduction of average territory
size, enabling greater
customer focus
20% more prospecting calls
N E W R E S O U R C E S F U E L I N G T H E F U T U R E
PolyOne Corporation 25
P O L Y O N E
S A L E S
F U N N E L
+34%
2014
$3.0 billion
2017
$4.0 billion
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 26
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 27
3 Horizons of Development
Customization
55%
M&A
30%
Innovation
Pipeline
15%
Transformational
Opportunity for Growth
Through M&A
Adjacent
Opportunity for
Growth Through New
Product Pipeline
Core
Business Focus
Innovation comes from
3 H O R I Z O N S O F D E V E L O P M E N T
PolyOne Corporation 28
Transformational
Opportunity for Growth
Through M&A
Adjacent
Opportunity for
Growth Through New
Product Pipeline
Core
Business Focus
New
development
adjacent to our
existing
technology base
New development
beyond our current
technology base
Development within
our current
technology base
Service adjacent
markets and
customers
Create new
markets, target
new customer
needs
Service existing
markets and
customers
Market
Technical
I N N O V A T I O N
Transformational
Opportunity for Growth
Through M&A
Adjacent
Opportunity for
Growth Through New
Product Pipeline
Core
Business Focus
3 H O R I Z O N S O F D E V E L O P M E N T
PolyOne Corporation 29
Service adjacent
markets and
customers
Create new
markets, target
new customer
needs
Service existing
markets and
customers
Market
Technical
I N N O V A T I O N
Gordon/Polystrand –
Composites
GLS – Thermoplastic Elastomers
ColorMatrix – Liquid
Color & Additives
New
development
adjacent to our
existing
technology base
New development
beyond our current
technology base
Development within
our current
technology base
Transformational
Opportunity for Growth
Through M&A
Adjacent
Opportunity for
Growth Through New
Product Pipeline
Core
Business Focus
3 H O R I Z O N S O F D E V E L O P M E N T
PolyOne Corporation 30
Service adjacent
markets and
customers
Create new
markets, target
new customer
needs
Service existing
markets and
customers
Market
Technical
I N N O V A T I O N
Non-Halogen Flame
Retardant Polymers
Barrier Technologies
Fiber Colorants
Advanced Composites
Thermoplastic Elastomers
New
development
adjacent to our
existing
technology base
New development
beyond our current
technology base
Development within
our current
technology base
I N N O V A T I O N P I P E L I N E
PolyOne Corporation 31
PrototypeFrame
Opportunity
Scale-up & Test
Market
Build
Business Case
Commercial
Launch
Phase 1 Phase 2 Phase 3 Phase 4 Phase 5
8
5
6
2 1
15 4
10
5
11
4
5
7
Breakthrough
Platform
Derivative
Number of Projects 26 16 20 15 2 79
Color Technologies – – $335 $670 $410 19 $1,415
Barrier Additives – – $160 $255 – 8 $415
Flame Retardant Polymers – – $200 $50 – 14 $250
Thermoplastic Elastomers – – $410 $80 $30 17 $520
Advanced Composites – – $100 $40 – 8 $140
Specialty Vinyl Formulations – – $25 $75 – 13 $100
Total Addressable Market
($ millions)
– – $1,230 $1,170 $440 $2,840
12%
38%
2006 2017
$20
$52
2006 2017
Research & Development Spend
($ millions)
Vitality Index
% of sales from products launched last 5 years
I N N O V A T I O N D R I V E S E A R N I N G S G R O W T H
PolyOne Corporation 32
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
I Q D E S I G N L A B S
PolyOne Corporation 33
Material
& Color
Expertise
Manufacturing
Expertise
3
14
2014 2017
Industrial designers
$0
$7M
2014 2017
$4M
$40M
2014 2017
Opportunity funnel New business revenue
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 34
Enables validation of fit and function
Shortens design cycle and time to market
Avoids tooling rework
Drives innovation
Delivers substantial customer value
L S S C U S T O M E R F I R S T
PolyOne Corporation 35
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
2014 2017
2 85
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 36
Expanded Path
Traditional Path
Strategic Accounts/
Field Sales
Business
Development
Customer
Service
Web and Social
Media
Inside Sales
PolyOne Corporation 37
Investments in digital and dedicated inside sales to
improve customer experience
80% increase in leads (from 6,000 to 11,000) driven
by website, phone, and online chat
E X P A N D E D P A T H
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
21
2014 2017
Inside sellers
$11M
$88M
2014 2017
Inside sales/digital revenue
C O M M E R C I A L
R E S O U R C E S
I N N O V A T I O N
S E R V I C E
I N S P I R E D F U T U R E
6-8% annual increase in commercial resources
4 focused end-markets aligned with global
megatrends
5 strategic innovation platforms
30% increase in IQ Design projects
35% increase in revenue from inside sales/digital
≥35% vitality index
PolyOne Corporation 38
I N N O V A T I N G W I T H P O L Y O N E
PolyOne Corporation 39
S E G M E N T R E V I E W S
P O L Y O N E
D I S T R I B U T I O N
PolyOne Corporation 40
S C O T T H O R N
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 41
Transportation
23%
Healthcare
22%
Industrial
18%
Consumer
15%
Appliance
7%
Electrical &
Electronics
6%
Building &
Construction
4%
Packaging
3%
Wire & Cable
2%
$20
$25
$63
$73
2.9%
4.0%
5.9%
6.3%
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
7.0%
15
25
35
45
55
65
75
2005 2009 2013 2017
Operating Income & Margin2017 Revenue | $1.2 Billion
http://www.polyone.com/Pages/VariationRoot.aspx
http://www.polyone.com/Pages/VariationRoot.aspx
S E R V I C E I S O U R B U S I N E S S
PolyOne Corporation 42
Uniquely positioned to help our customers grow
their brand and value-added solutions
1.2B
$
Annual Sales
250
Global Employees
24
Strategic
Presence
132
Sales Reps
Warehouse
Locations
6
Service Centers
Dedicated Commercial
Team
S E R V I C E I S O U R B U S I N E S S
S A F E L Y A N D R E S P O N S I B L Y
PolyOne Corporation 43
95% on-time delivery
Customer/Product
Combinations
14,000
Transactions/Month
In-Person
Customer Visits
6,500 27,000
$
K E Y C O M M E R C I A L I N V E S T M E N T S
PolyOne Corporation 44
Generating opportunities
37% more sales calls
$65M in new revenue from
inside sales
$400M increase in new
opportunities
Enhancing efficiency
24% increase in close rate
51% increase in prospecting calls
Increased commercial headcount
119
13211
1315
23
2014 Q1 2018
Sales R&D / Technical Marketing
+ 18%
+ 53%
+ 11%
PolyOne Corporation 45
Providing differentiated services that meet the needs
of the changing customer landscape
G R O W T H T H R O U G H I N S I D E S A L E S
$4
$65
2014 2017
PolyOne Distribution Inside Sales
$ in millions
PolyOne Corporation 46
G R O W T H T H R O U G H M U L T I P L E S A L E S
C H A N N E L S
Technical
Field Sales
Key Accounts /
Industry Sales
Inside
Sales
Serving a broad spectrum of customers
Leveraging digital systems to drive awareness and
enhance the customer experience
N E W R E S O U R C E S F U E L I N G T H E F U T U R E
PolyOne Corporation 47
P O D S A L E S
F U N N E L
+27%
2014
$1.2 billion
2017
$1.6 billion
C O M M E R C I A L
R E S O U R C E S
I N N O V A T I O N
S E R V I C E
I N S P I R E D F U T U R E
6-8% annual increase in commercial resources
>10% annual increase in revenue from inside sales and
digital with expanded customer touch points
8% annual expansion of sales funnel with best-in-class
service and technical expertise
6-8% compound annual operating income growth
6-7% operating margins
PolyOne Corporation 48
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
PolyOne Corporation 49
M I C H A E L G A R R A T T
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 50
Engineered
Formulations
Advanced
Composites
Thermoplastic
Elastomers
Consumer
20%
Transportation
19%
Electrical &
Electronics
15%
Wire & Cable
13%
Healthcare
11%
Industrial
8%
Packaging
7%
Appliance
4%
Building &
Construction
3%
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
2 0 1 7 R E V E N U E | $ 6 2 4 M I L L I O N
PolyOne Corporation 51
$21
$57
$76
0.1%
5.1%
9.3%
12.1%
0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
12.0%
14.0%
20
30
40
50
60
70
80
90
2005 2009 2013 2017
Europe
28%
United
States
48%
Asia
22%
Canada
2%
C A P I T A L I Z I N G O N T H E G L O B A L M A R K E T
PolyOne Corporation 52
Demand for engineered materials is accelerating
Expanding thermoplastic elastomer portfolio to meet
the demands of local consumption
Grow and develop low smoke, non-halogen
technologies to meet increasing European standards
Adding capacity in strategic markets
India Germany
China North America
Establishing a commercial hub in Southeast Asia
C O M M E R C I A L
R E S O U R C E S
I N N O V A T I O NS E R V I C E
S T R A T E G I C I N V E S T M E N T I N 3 K E Y A R E A S
PolyOne Corporation 53
K E Y C O M M E R C I A L I N V E S T M E N T S
PolyOne Corporation 54
Generating opportunities
13% more sales calls
36% increase in customization
projects
$270M increase in new opportunities
Enhancing efficiency
12% reduction in average territory
size, enabling greater
customer focus
50% improvement in speed of
formulation turnaround
Increased commercial headcount
133
17335
39
120
147
2014 Q1 2018
R&D / Technical Marketing Sales
+ 30%
+ 11%
+ 23%
N E W R E S O U R C E S F U E L I N G T H E F U T U R E
PolyOne Corporation 55
S E M
S A L E S
F U N N E L
+43%
2014
$610 million
2017
$880 million
L S S C U S T O M E R F I R S T
G R O W T H T H R O U G H S E R V I C E
PolyOne Corporation 56
Leading Sporting Goods
Manufacturer
Provided Lean Six Sigma training
and led an onsite Black Belt
project to improve product
development cycle times
Reduced
innovation project
cycle times by over
10%
and prototyping by
40%
80%
increased
production
resulting in
$500k
savings
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 57
C O M P O S I T E S R E F R E S H E R
PolyOne Corporation 58
Fiber
Polymer
Composite
Strength
Design Flexibility
Continuous
Fiber
Thermoset
Composites
Short Glass
Fiber
Thermoplastics
Continuous Fiber
Thermoplastic
Composites
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
PolyOne Corporation 59
Acquired
Polystrand
Installed LFT
production
Avon Lake
Long Fiber
Thermoplastic
(LFT)
Technology
Installed
LFT
production
Barbastro,
Spain
Acquired
Glasforms
Acquired
Gordon
Composites
Thermoplastic
Composites
Long Fiber Reinforced Thermoplastics
Continuous Fiber Thermosets
2010 2012 2015 2016 20162009 20122011 2014
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 60
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
17
44
At Acquisition Now
Commercial Resources
0%
20%
At Acquisition Goal
Operating Margins
Test Market
Innovation
Projects
8
PolyOne Corporation 61
A D V A N C E D C O M P O S I T E S
Long-term investments align with key global megatrends
Light-Weighting Design Flexibility Sustainability
C O M M E R C I A L
R E S O U R C E S
I N N O V A T I O N
S E R V I C E
I N S P I R E D F U T U R E
6-8% annual increase in commercial resources
>10% annual increase in customization projects
10% annual expansion of sales funnel, enhancing
portfolio in 4 focus end markets
20% increase in global capacity
12-15% compound annual operating income growth
14-16% operating margins
PolyOne Corporation 62
P E R F O R M A N C E
P R O D U C T S
& S O L U T I O N S
PolyOne Corporation 63
D O N W I S E M A N
P E R F O R M A N C E P R O D U C T S & S O L U T I O N S
E N D M A R K E T S & S O L U T I O N S
PolyOne Corporation 64
Specialty Vinyl
Solutions
Healthcare
Formulations
Smart Device
Materials
Flame Retardant
Polymers
Building &
Construction
30%
Industrial
18%
Transportation
16%
Wire & Cable
15%
Appliance
7%
Packaging
5%
Consumer
5%
Electrical &
Electronics
3%
Healthcare
1%
Asia
2%
United
States
77%
Mexico
5%
Canada
16%
P E R F O R M A N C E P R O D U C T S & S O L U T I O N S
Operating Income & MarginRevenue by Region
2 0 1 7 R E V E N U E | $ 7 2 1 M I L L I O N
$40
$33
$56
$77
4.6%
3.6%
7.2%
10.7%
0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
12.0%
14.0%
16.0%
0
10
20
30
40
50
60
70
80
90
100
2005 2009 2013 2017
PolyOne Corporation 65
$886 $668 $773 $721Sales
C O M M E R C I A L
R E S O U R C E S
I N N O V A T I O NS E R V I C E
S T R A T E G I C I N V E S T M E N T I N 3 K E Y A R E A S
PolyOne Corporation 66
K E Y C O M M E R C I A L I N V E S T M E N T S
PolyOne Corporation 67
Generating opportunities
25% more sales calls
113% increase in innovation
pipeline
$240M increase in new
opportunities
Enhancing efficiency
36% increase in
prospecting calls
300 basis point
improvement in
operating margin
Increased commercial headcount
57
66
17
18
37
53
2014 Q1 2018
R&D / Technical Marketing Sales
+ 16%
+ 43%
+ 6%
N E W R E S O U R C E S F U E L I N G T H E F U T U R E
PolyOne Corporation 68
P P & S
S A L E S
F U N N E L
+40%
2014
$610 million
2017
$850 million
L S S C U S T O M E R F I R S T
G R O W T H T H R O U G H S E R V I C E
PolyOne Corporation 69
Leading Wire & Cable
Manufacturer
Provided Lean Six Sigma training
and led on-site Kaizen process
improvements
Reduced
over
400
labor hours
through
reorganized
work area and
floor space
Increased
manufacturing
throughput value
$1.4M
G R O W T H T H R O U G H S E R V I C E
PolyOne Corporation 70
IQ Design is collaborating with a
leading medical device
manufacturer to replace metal
and provide chemical resistance
to solve cracking issues related
to intense cleaning requirements
H E A L T H C A R E I N N O V A T I O N S
I N N O V A T I O N S P O T L I G H T :
F L A M E R E T A R D A N T
P O L Y M E R S
PolyOne Corporation 71
F L A M E R E T A R D A N T
D R I V E R S
PolyOne Corporation 72
Shift toward less toxic solutions
Increased consumer awareness
Focus on environmentally
friendly solutions
New regulatory standards
F L A M E R E T A R D A N T P E R F O R M A N C E S P E C T R U M
PolyOne Corporation 73
Flame Retardant Flame Retardant Flame Retardant
Non-Halogen
No Dripping
Low Smoke
Low Toxicity &
Corrosiveness
H A L O G E N N O N - H A L O G E N L S F O H
( L o w S m o k e a n d F u m e ,
N o n - H a l o g e n )
Non-Halogen
R E G U L A T O R Y C H A N G E S P R O V I D E O P P O R T U N I T Y
L E D S O L U T I O N S
PolyOne Corporation 74
Solutions for rigid molded &
extruded applications
Superior outdoor weather performance
Excellent light dispersion qualities
Formulated to meet stringent
flame-rating regulations
Custom design support to meet demand
C O M M E R C I A L
R E S O U R C E S
I N N O V A T I O N
S E R V I C E
I N S P I R E D F U T U R E
6-8% annual increase in commercial resources
8% more sales calls annually
10% annual expansion of sales funnel, including
breakthroughs in healthcare technologies
8-10% compound annual operating income growth
12-14% operating margins
PolyOne Corporation 75
C O L O R A D D I T I V E S
& I N K S
PolyOne Corporation 76
M A R K C R I S T
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 77
Solid
Colorants
Performance
Additives
Screen
Printing Inks
Liquid
Colorants
Packaging
27%
Industrial
14%
Textiles
12%
Building &
Construction
10%
Wire & Cable
10%
Transportation
8%
Consumer
7%
Healthcare
6%
Electrical &
Electronics
3%
Appliance
3%
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 7 R E V E N U E | $ 8 9 3 M I L L I O N
$4
$25
$104
$139
0.9%
5.5%
12.2%
15.5%
0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
12.0%
14.0%
16.0%
18.0%
20
30
40
50
60
70
80
90
100
110
120
130
140
150
2005 2009 2013 2017
PolyOne Corporation 78
Europe
32%
United
States
46%
Asia
15%
Canada
1%
Mexico
4%
Brazil
2%
C A P I T A L I Z I N G O N T H E G L O B A L M A R K E T
PolyOne Corporation 79
Emerging markets driving strong demand for color
and additives
Rapid adoption of food and beverage
packaging additives
Fiber colorants growth focused on expanding
Asia-Pacific market
Increase commercial investments focused on China,
India and Mexico
Expand capacity in China and leverage investments
in India
Recent acquisitions increasing global reach
C O M M E R C I A L
R E S O U R C E S
I N N O V A T I O NS E R V I C E
S T R A T E G I C I N V E S T M E N T I N 3 K E Y A R E A S
PolyOne Corporation 80
K E Y C O M M E R C I A L I N V E S T M E N T S
PolyOne Corporation 81
Generating opportunities
35% more sales calls
30% increase in customized color
formulations
106% increase in innovation pipeline
$170M increase in new opportunities
Enhancing efficiency
20% increase in prospecting calls
9 days or less in design
turnaround time:
best-in-class
Increased commercial investment
301
382
38
43
209
275
2014 Q1 2018
R&D / Technical Marketing Sales
+ 27%
+ 13%
+ 32%
N E W R E S O U R C E S F U E L I N G T H E F U T U R E
PolyOne Corporation 82
C A I S A L E S
F U N N E L
+32%
2014
$540 million
2017
$710 million
L S S C U S T O M E R F I R S T
PolyOne Corporation 83
Developed
inventory
management
framework to
reduce
working
capital by
20%
Printing Equipment
and Supply Manufacturer
Provided Lean Six Sigma training
and conducted process mapping
exercises to identify key
improvement opportunities
Optimize
manufacturing:
45%
improvement in
assembly process,
25%
improvement in
cycle time
G R O W T H T H R O U G H S E R V I C E
I N N O V A T I O N S P O T L I G H T :
A D D I T I V E & C O L O R A N T
T E C H N O L O G I E S
PolyOne Corporation 84
B A R R I E R T E C H N O L O G I E S
Active oxygen scavenging
additive in the bottle wall
Evolving technology for active
oxygen scavenging additive in
the bottle cap
Amosorb™ HyGuard™
UV and visible light blocking
additive to prevent degradation
of product
Lactra™ SX
Market leader in oxygen, light and UV barrier solutions for the PET bottle market
PolyOne Corporation 85
S T R A T E G I C A D D R E S S A B L E M A R K E T > $ 2 0 0 M
F I B E R C O L O R A N T S
Eliminate waste water associated
with conventional dyeing
Help meet sustainability targets
for brand owners
Enable “uncolored fiber” producers
to bypass dyehouse
Strategic addressable market >$300M
PolyOne Corporation 86
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
PolyOne Corporation 87
Thermoplastic
Composites
2011 2015 2018
Acquired
ColorMatrix
Acquired
Magenta
Acquired
IQAP
$10
$45
2014 2017
Revenue from Fiber Color
($ in millions)
Invested in
development
of liquid fiber
colorant
technology
Expanded
solid
colorant
offerings
38
43
At Acquisition Now
Commercial Resources
Innovation
Projects
5
PolyOne Corporation 88
I N V E S T I N G F O R T H E F U T U R E
Nearly 900 projects identified
Gaining sustainable momentum & building trust with consumers
Fiber
Sales Funnel
$125M
“We are unleashing the power of human potential, all
to advance the game.
https://www.avient.com/sitemap
Nylon 66: What's the Difference?
https://www.avient.com/sites/default/files/2024-03/2024 Proxy Statement_March.pdf
Jellison 66 2015 Yes C M
Ashish K.
Khandpur, Ph.D. 56 2023 No
Sandra Beach Lin 66 2013 Yes M M
Kim Ann Mink, Ph.D. 64 2017 Yes M M
Ernest Nicolas 46 2021 Yes M M
Kerry J.
Director since: 2015
Age: 66
Current Public Company Directorships:
• None
Current Non-Public Company Directorships:
• Young Innovations, Inc.
https://www.avient.com/sites/default/files/2022-03/Avient 2022 Proxy Statement.pdf
Fearon 66 2004 Yes M C
Gregory J.
Director since: 2004
Age: 66
Current Public Company Directorships:
• Crown Holdings, Inc
The table following this narrative
discussion summarizes the amounts payable upon termination or a change of control under certain
EXECUTIVE COMPENSATION
66 PROXY STATEMENT 2022 | Annual Meeting of Shareholders
circumstances to our Named Executive Officers, assuming that the executiveʼs employment terminated on
December 31, 2021.
https://www.avient.com/sites/default/files/2020-10/investing-in-avient.pdf
SEGMENT HIGHLIGHTS
Packaging
37%
Consumer
22%
Healthcare
8%
Industrial
14%
Building &
Construction
8%
Transportation
6%
Wire & Cable
3%
Electrical &
Electronics
2%
C O L O R , A D D I T I V E S & I N K S
2 0 2 0 P F R E V E N U E | $ 2 . 0 B I L L I O N
$9
$310
2.0%
15.5%
2020 figures Pro forma estimates for acquisition of the Clariant Masterbatch business
US & Canada
32%
Europe
39%
Asia
23%
Latin America
6%
END MARKET REGION EBITDA DOLLAR & MARGIN
EXPANSION
24
US & Canada
59%
Europe
23%
Asia
18%
Consumer
23%
Healthcare
10%
Packaging
6%
Wire & Cable(1)
25%
Electrical &
Electronics
14%
Industrial
10%
Transportation
10%
Building &
Construction
2%
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 0 E R E V E N U E | $ 6 8 5 M I L L I O N
0.9%
16.8%
END MARKET REGION EBITDA DOLLAR & MARGIN
EXPANSION
25
(1) Approximately 50% of Wire and Cable sales are associated with Fiber Optic Cabling
Healthcare
30%
Consumer
24%Packaging
3%
Industrial
19%
Transportation
15%
Electrical &
Electronics
4%
Building &
Construction
4%
Wire & Cable
1%
US & Canada
79%
Asia
2%
Latin
America
19%
END MARKET REGION EBITDA DOLLAR & MARGIN
EXPANSION
D I S T R I B U T I O N
2 0 2 0 E R E V E N U E | $ 1 . 0 5 B I L L I O N
$20
$65
2.9%
6.2%
K E Y S U P P L I E R S
26
AMERICAS EUROPE ASIA
Consumer
26%
Healthcare
19%
Packaging
13%
Industrial
16%
Wire & Cable
7%
Building &
Construction
5%
Electrical &
Electronics
4%
Packaging
35%
Consumer
14%Healthcare
6%
Industrial
17%
Wire & Cable
10%
Building &
Construction
8%
Electrical &
Electronics
3%
Packaging
32%
Consumer
26%
Healthcare
12%
Industrial
7%
Wire & Cable
6%
Building &
Construction
4%
Electrical &
Electronics
9%
Transportation
10%
Transportation
7%
Transportation
4%
2020 figures Pro forma estimates for acquisition of the Clariant Masterbatch business
T O T A L C O M PA 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
(58% of sales) (25% of sales) (17% of sales)
27