Avery Dennison Corporation (NYSE:AVY) Q4 2020 Earnings Conference Call February 3, 2021 1:00 PM ET Company Participants John Eble - IR Mitch Butier - Chairman, President and CEO Greg Lovins - SVP and CFO Conference Call Participants Ghansham Panjabi - Baird Adam Josephson - KeyBanc Capital Markets Neel Kumar - Morgan Stanley Investments Josh Spector - UBS Securities Anthony Pettinari - Citigroup Global Markets Jeffrey Zekauskas - JPMorgan Securities George Staphos - Bank of America Chris Kapsch - Loop Capit ...

RFID Market Growth and Adoption - The RFID market is experiencing significant growth, with apparel leading the way due to its role in enabling omni-channel retailing[5] - The company's RFID revenue platform, including Smartrac, generates over $500 million and is targeted to grow by 15-20%, contributing approximately 1 percentage point to the company's annual growth[5] - The company has a greater than 50% share in the apparel segment of the UHF RFID market[5] - The company has produced over 30 billion inlays to date[12] Expansion Beyond Apparel - Promising early-stage developments are occurring in markets outside of apparel, including food, beauty, logistics, and aviation[5] - These non-apparel sectors require provenance, transparency, inventory accuracy, convenience, and labor efficiency (food), inventory accuracy and consumer experience (beauty), and pallet tracking, case tracking, parcel sorting, and last-mile optimization (logistics)[9] Competitive Advantages - The company possesses an industry-leading solution development team that supports customers from business case development to complete solution implementation[11] - The company has over 1750 patents and applications worldwide[12] - The company has 7 global manufacturing sites and operational excellence[12] Impact of COVID-19 - While COVID-19 initially created headwinds in Q2 due to retail apparel exposure, the pandemic is now driving the need for better visibility, efficiency, and traceability, creating long-term tailwinds[5]

Financial Performance & Targets - The company targets more than $500 million in free cash flow for the year [8, 63] - The company increased dividend by 7% and resumed share repurchase late in the third quarter [8, 62] - The company is targeting 15-20% growth in its $500+ million revenue RFID platform [13] - The company achieved a world-class Recordable Incident Rate of 0.23 [22] Sales & Growth - 2019 net sales were $7.1 billion [9] - High Value Categories account for ~$2.7 billion of total sales [11] - Emerging Markets account for ~$2.3 billion of total sales [11] - RBIS sales were $1.7 billion in 2019 [46] - Enterprise RFID sales up ~20% on an organic basis in Q3, and up ~65% including Smartrac acquisition [57] Sustainability - The company reduced greenhouse gas emissions by more than 30% against 2015 baseline as of September 30, 2019 [22] - Over 88% of the company's paper is certified, with close to 79% of face paper being FSC-certified [22] - 94% of waste from operations was diverted from landfills and 65% of waste was recycled as of November 2019 [22]

Avery Dennison Corporation (NYSE:AVY) Q3 2020 Earnings Conference Call October 21, 2020 1:00 PM ET Company Participants Cindy Guenther – Vice President-Investor Relations and Finance Mitch Butier – Chairman, President and Chief Executive Officer Greg Lovins – Senior Vice President and Chief Financial Officer Conference Call Participants George Staphos – Bank of America Ghansham Panjabi – Robert W. Baird & Company Neel Kumar – Morgan Stanley Adam Josephson – KeyBanc Capital Markets Josh Spector – UBS Securit ...

Avery Dennison Corporation (NYSE:AVY) Q2 2020 Earnings Conference Call July 27, 2020 1:00 PM ET Company Participants Cindy Guenther - Vice President of Investor Relations and Finance Mitch Butier - Chairman, President and Chief Executive Officer Greg Lovins - Senior Vice President and Chief Financial Officer Conference Call Participants George Staphos - BofA Securities Anthony Pettinari - Citigroup Global Markets Ghansham Panjabi - Robert W. Baird and Company Adam Josephson - KeyBank Capital Markets Neel Ku ...

Start Time: 13:00 January 1, 0000 2:01 PM ET Avery Dennison Corporation (NYSE:AVY) Q1 2020 Earnings Conference Call April 29, 2020, 13:00 PM ET Company Participants Mitch Butier - Chairman, President and CEO Greg Lovins - SVP and CFO Cindy Guenther - VP of Finance and IR Conference Call Participants Ghansham Panjabi - Robert W. Baird George Staphos - Bank of America Merrill Lynch Anthony Pettinari - Citigroup Adam Josephson - KeyBank Capital Markets Joshua Spector - UBS Securities Neel Kumar - Morgan Stanl ...