Avient : Recast Pro Forma Financial Information (incl. Dyneema® Purchase, ex. Distribution) – 9/27/2022

AVIENT CORPORATION

P R O F O R M A F I N A N C I A L S F O R D Y N E E M A A C Q U I S I T I O N A N D D I S T R I B U T I O N A S D I S C O N T I N U E D O P E R A T I O N S

(NYSE: AVNT)

S E P T E M B E R 2 7 , 2 0 2 2

DISCLAIMER

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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. Forward-looking statements give current expectations or forecasts of future events and are not guarantees of future performance. They are based on management's expectations that involve a number of business risks and uncertainties, any of which could cause actual results to differ materially from those expressed in or implied by the forward-looking statements. You can identify these statements by the fact that they do not relate strictly to historic or current facts. They use words such as "will," "anticipate," "estimate," "expect," "project," "intend," "plan," "believe" and other words and terms of similar meaning in connection with any discussion of future operating or financial condition, performance and/or sales. In particular, these include statements relating to future actions; prospective changes in raw material costs, product pricing or product demand; future performance; estimated capital expenditures; results of current and anticipated market conditions and market strategies; sales efforts; expenses; the outcome of contingencies such as legal proceedings and environmental liabilities; and financial results.

Factors that could cause actual results to differ materially from those implied by these forward-looking statements include, but are not limited to:

• Disruptions, uncertainty or volatility in the credit markets that could adversely impact the availability of credit already arranged and the availability and cost of credit in the future;
• The effect on foreign operations of currency fluctuations, tariffs and other political, economic and regulatory risks; including recessionary conditions
• The current and potential future impact of the COVID-19 pandemic on our business, results of operations, financial position or cash flows
• Changes in polymer consumption growth rates and laws and regulations regarding plastics in jurisdictions where we conduct business;
• Fluctuations in raw material prices, quality and supply, and in energy prices and supply;
• Production outages or material costs associated with scheduled or unscheduled maintenance programs;
• Unanticipated developments that could occur with respect to contingencies such as litigation and environmental matters;
• An inability to raise or sustain prices for products or services;
• Our ability to pay regular quarterly cash dividends and the amounts and timing of any future dividends;
• Information systems failures and cyberattacks;
• Amounts for cash and non-cash charges related to restructuring plans that may differ from original estimates, including because of timing changes associated with the underlying actions;
• The ability to obtain required regulatory approvals and otherwise consummate the proposed sales of the Distribution business; and
• Other factors affecting our business beyond our control, including without limitation, changes in the general economy, changes in interest rates, changes in the rate of inflation and any recessionary conditions

Use of Non-GAAP Measures

This presentation includes the use of both GAAP (generally accepted accounting principles) and non-GAAP financial measures. The non-GAAP financial measures include: adjusted Earnings Per Share and adjusted EBITDA.

Avient's chief operating decision maker uses these financial measures to monitor and evaluate the ongoing performance of Avient and each business segment and to allocate resources.

A reconciliation of each historical non-GAAP financial measure with the most directly comparable GAAP financial measure is attached to this presentation which is posted on our website at www.avient.com.

Avient does not provide reconciliations of forward-lookingnon-GAAP financial measures, such as outlook for Adjusted EBITDA, Adjusted Earnings Per Share, Adjusted Operating Income and Free Cash Flow, to the most comparable GAAP financial measures on a forward-looking basis because Avient is unable to provide a meaningful or accurate calculation or estimation of reconciling items and the information is not available without unreasonable effort. This is due to the inherent difficulty of forecasting the timing and amount of certain items, such as, but not limited to, restructuring costs, environmental remediation costs, acquisition-related costs, and other non-routine costs. Each of such adjustments has not yet occurred, are out of Avient's control and/or cannot be reasonably predicted. For the same reasons, Avient is unable to address the probable significance of the unavailable information.

Pro Forma Financial Information

The Company acquired Avient Protective Materials ("Dyneema") on September 1, 2022 (the "Acquisition Date") and has a pending sale of the Distribution segment. To provide comparable results, the company references "pro forma" financial metrics, which include the business results of Avient Protective Materials for periods prior to the Acquisition Date, as if the transaction occurred on January 1, 2021 and reflect Distribution as a discontinued operation. Management believes this provides comparability of the performance of the combined businesses.

Unless otherwise stated, Adjusted Earnings Per Share and Adjusted EBITDA figures included in this presentation exclude the impact of special items as defined in our quarterly earnings releases. Additionally, Adjusted EPS excludes the impact of special items and amortization expense associated with intangible assets.

PRO FORMA 2021 TO 2022 BRIDGE

2021 EPS from Continuing Operations	$	1.69
Pro Forma & Special Items		1.33
Proforma 2021 Adjusted EPS	$	3.02
FX Impact		(0.22)
China Lockdowns / Russia Import Sales		(0.24)
Outdoor High Performance		(0.13)
Dyneema		0.06
Color, Additives and Inks		0.38
Legacy Specialty Engineered Materials		0.22
Other		0.01
Proforma 2022 Adjusted EPS	$	3.10

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COLOR, ADDITIVES AND INKS

Sales

								0%
7%	4%	(4%)	(9%)	2,402	2,390
610	650	624	649	587	565	581	526

Q1Q2Q3Q4FY

Constant Currency Sales

							5%
10%	10%	4%		(3%)	2,390
							2,266
589	650	589	649	543	565	545	526

EBITDA

									1%
4%			6%	2%		(10%)	409	414
116	121	112	119	93	95	88	79

Q1Q2Q3Q4FY

Constant Currency EBITDA

									6%
7%		12%		9%		(6%)	390	414
113	121	106	119	87	95	84	79

4	Q1	Q2	Q3	Q4	FY	Q1	Q2	Q3	Q4	FY

Constant currency reflects prior year results restated at current year foreign exchange rates

PRO FORMA SPECIALTY ENGINEERED MATERIALS

Sales								EBITDA
							(2%)								2%
		(1%)				1,308	1,276	16%		3%	(6%)		(6%)	278	283
8%		(8%)	(8%)
314	338	348	343	325	300	321	295		67	78	75	77	70	66	66	62

Q1Q2Q3Q4FYQ1Q2Q3Q4FY

Constant Currency Sales					Constant Currency EBITDA
							3%									6%
							1,236	1,276	20%		5%	(1%)		(2%)	268	283
12%		4%	(1%)	(2%)
303	338	329	343	303	300	301	295		65	78	73	77	67	66	63	62

5	Q1	Q2	Q3	Q4	FY	Q1	Q2	Q3	Q4	FY

Constant currency reflects prior year results restated at current year foreign exchange rates