O-i Glass, Inc. · NYSE:OI
O-i Glass — Q3 2026 Earnings Presentation
26 slides from O-i Glass's earnings presentation, Oct 27, 2026
Slide 1: Third Quarter 2026 Earnings
THIRD QUARTER 2026 EARNINGS October 27, 2026
Slide 2: Safe Harbor Comments and Forward-Looking Statements
SAFE HARBOR COMMENTS AND FORWARD-LOOKING STATEMENTS 2 This presentation contains “forward-looking” statements related to O-I Glass, Inc. (“O-I Glass” or the “Company”) within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and Section 27A of the Se
Slide 3: 3Q26 Overview
3Q26 OVERVIEW 3 A M E R I C A S R E S I L I E NC E PA RTI A L LY O F F S E TS E U RO P E N E T P R I C E P R E S S U RE ; R E S E T 2 0 2 6 O U T L O OK 3Q26 PERFORMANCE NET SALES ($M) aEBITDA ($M) aEPS STABLE TOPLINE 1,653 1,623 329 0.48 • Shipments down ~ 2% but quarterly sequential improvement in
Slide 4: Stable Topline
STABLE TOPLINE 4 F AVO R A B L E F X M O S TLY O F F S E T S L I G H TLY L OW E R P R I C E A N D S A L E S VO L U M E SALES VOLUME1 TREND (% YoY) QUARTERLY SEQUENTIAL VOLUME IMPROVEMENT 4.4% 3Q26 SALES VOLUME1 DOWN ~ 2% • AM down ~1.3% including impact of Andean earthquake & US/CAN trade dispute. S
Slide 5: Fit to Win Delivering Tangible Benefits
FIT TO WIN DELIVERING TANGIBLE BENEFITS 5 $ 5 0 M B E N E F I TS I N 3 Q 2 6 , $ 1 3 5 M Y T D, A N D $ 4 6 0 M P ROG R A M TO - D AT E FIT TO WIN BENEFITS ($M) 2024 2025 2026 2027 3 YEAR 1 ACTUAL ACTUAL 9M ACTUAL FY OUTLOOK TARGET TARGET COMMENTS 2 Reshape SG&A 14 98 49 55 30 180 Organization actio
Slide 6: 3Q26 Company Performance
3Q26 COMPANY PERFORMANCE 6 L OW E R E A R NI NG S P R I M A R I LY R E F L E C T N E T P R I C E P R E S S U RE I N E U ROP E A N D H I G H E R TA X R AT E aEPS BALANCE SHEET @ 9/30/26: 0.48 • 4.5x Total Net Leverage • 1.37x Senior Secured Net Leverage (2.5x covenant) • $1.5B Liquidity 0.03 0.00 (0.
Slide 7: 3Q26 Operating Performance
3Q26 OPERATING PERFORMANCE 7 S O L I D A M E R I C A S R E S U LT S ; E U RO P E D OW N O N P R I C E P R E S S U R E A N D E L E VAT E D E N E R G Y I N F L AT I O N O-I OPERATING PERFORMANCE ($M) AM AND EU PERFORMANCE 329 AMERICAS Changes in Net Sales and Segment Operating Profit $M 3Q25 Currency
Slide 8: 2026 Outlook and Initial View on 2027 Business Levers
2026 OUTLOOK AND INITIAL VIEW ON 2027 BUSINESS LEVERS 8 U P D ATE D 2 0 2 6 O U T L OOK R E F L E C TS H E A DW I ND S ; E X P E C T H I G H E R 2 0 2 7 P E R F OR M A N CE 2026 GUIDANCE INITIAL VIEW ON 2027 BUSINESS LEVERS 2027 VS 2026 PRIOR CURRENT BUSINESS DRIVER (▲ FAV) COMMENTS aEBITDA ($M) 1,0
Slide 9: Europe Path to Recovery
EUROPE PATH TO RECOVERY 9 M U LT I- Y E A R P L A N S E E K S TO R E S TOR E E U ROP E M A R G I NS A N D P E R F ORM A NC E WHAT HAPPENED 01 WHAT HAPPENED RECOVERY PLAN MULTI-YEAR 01 GOAL 02 MARKET PRESSURE IMPROVE NET PRICE COMMERCIAL PERFORMANCE Softer demand, excess capacity and COMMERCIAL EFFOR
Slide 10: Value Creation Roadmap
VALUE CREATION ROADMAP 10 R I G H T S T R AT E G Y TO I N C R E A S E VA L U E A N D I M P ROV E E C O N O M I C P RO F I T HORIZON 3 (2028+) • Initiating Horizon 3 evaluation ECONOMIC STRATEGIC OPTIONALITY • Right portfolio, Right balance sheet PROFIT MINDSET HORIZON 2 (2027+) • Redesigned commerci
Slide 11: Summary and Conclusion
SUMMARY AND CONCLUSION 11 K E Y TA K E AWAY S F RO M T H I R D QUA RT E R 2 0 2 6 SOLID PERFORMANCE ACROSS THE AMERICAS STRONG YTD PERFORMANCE EUROPE DOWN SIGNIFICANTLY; FOCUSED ON RECOVERY PLAN SEQUENTIAL VOLUME IMPROVEMENT; 4Q FLAT/LSD GROWTH FIT TO WIN ~ $180 MILLION 2026 NET BENEFITS UPDATED 202
Slide 12: Appendix
APPENDIX 12
Slide 13: Summary Financial Results: 3Q26 vs 3Q25
SUMMARY FINANCIAL RESULTS: 3Q26 VS 3Q25 13 NET SALES, SEGMENT OPERATING PROFIT, AND aEPS RECONCILIATIONS COST BREAKDOWN NET SALES SEGMENT OPERATING PROFIT $M except EPS and % AMERICAS EUROPE CORP TOTAL AMERICAS EUROPE TOTAL aEPS 3Q25 $ 940 $ 688 $ 25 $1,653 $140 $95 $235 $0.48 % Margin 14.9% 13.8% 1
Slide 14: Summary Financial Results: YTD26 vs YTD25
SUMMARY FINANCIAL RESULTS: YTD26 VS YTD25 14 NET SALES, SEGMENT OPERATING PROFIT, AND aEPS RECONCILIATIONS COST BREAKDOWN NET SALES SEGMENT OPERATING PROFIT $M except EPS and % AMERICAS EUROPE CORP TOTAL AMERICAS EUROPE TOTAL aEPS Sep YTD 25 $ 2,756 $ 2,095 $ 75 $4,926 $416 $253 $669 $1.41 % Margin
Slide 15: 2026 Key Guidance Assumptions & Sensitivities
2026 KEY GUIDANCE ASSUMPTIONS & SENSITIVITIES 15 2026 BUSINESS DRIVERS VOLUME & FX SENSITIVITY 2026 vs 2025 BUSINESS DRIVER ▲ Fav ▼Unfav 2026 COMMENTS APPROXIMATE EPS SENSITIVITY TO 1% CHANGE IN aEBITDA ▼ $925M -$950M Sales Volume ▼ ~ Down 3-4% ANNUAL VOLUME (AT ~ 30% ETR) Net Price ▼ ~ $75M-$125M h
Slide 16: Non-GAAP Financial Measures
NON-GAAP FINANCIAL MEASURES 16 The company uses certain non-GAAP financial measures, which are measures of its historical or future financial performance that are not calculated and presented in accordance with GAAP, within the meaning of applicable SEC rules. Management believes that its presentati
Slide 17: Reconciliation to Adjusted Earnings
RECONCILIATION TO ADJUSTED EARNINGS 17
Slide 18: Segment Reconciliations: 3Q26 vs. 3Q25
SEGMENT RECONCILIATIONS: 3Q26 VS. 3Q25 18 3Q26 PRICE, SALES VOLUME AND CURRENCY IMPACT ON REPORTABLE SEGMENT SALES 3Q26 PRICE, SALES VOLUME, OPERATING COSTS AND CURRENCY IMPACT ON REPORTABLE SEGMENT OPERATING PROFIT (a) Currency effect on net sales and segment operating profit determined by using 20
Slide 19: Segment Reconciliations: YTD 3Q26 vs. YTD 3Q25
SEGMENT RECONCILIATIONS: YTD 3Q26 VS. YTD 3Q25 19 YTD 3Q26 PRICE, SALES VOLUME AND CURRENCY IMPACT ON REPORTABLE SEGMENT SALES YTD 3Q26 PRICE, SALES VOLUME, OPERATING COSTS AND CURRENCY IMPACT ON REPORTABLE SEGMENT OPERATING PROFIT (a) Currency effect on net sales and segment operating profit determ
Slide 20: Reconciliation for Segment Operating Profit
RECONCILIATION FOR SEGMENT OPERATING PROFIT 20
Slide 21: Reconciliation to Adjusted Effective Tax Rate
RECONCILIATION TO ADJUSTED EFFECTIVE TAX RATE 21 The Company is unable to present a quantitative reconciliation of its forward-looking non-GAAP measure, adjusted effective tax rate, for the periods ending after September 30, 2026, to its most directly comparable GAAP financial measure, provision for
Slide 22: Reconciliation to Free Cash Flow
RECONCILIATION TO FREE CASH FLOW 22 The Company is unable to present a quantitative reconciliation of its forward-looking non-GAAP measure, free cash flow, for all periods after 2026 to its most directly comparable U.S. GAAP financial measure, cash provided by operating activities, without unreasona
Slide 23: Reconciliations to Adjusted EBITDA and Adjusted EBITDA Margin
RECONCILIATIONS TO ADJUSTED EBITDA AND ADJUSTED EBITDA MARGIN 23 For the periods ending after September 30, 2026, the Company is unable to present a quantitative reconciliation of its forward-looking non-GAAP measures, adjusted EBITDA and adjusted EBITDA margin, to its most directly comparable U.S.
Slide 24: Reconciliations to Total Net Leverage and Total Liquidity
RECONCILIATIONS TO TOTAL NET LEVERAGE AND TOTAL LIQUIDITY 24 RECONCILIATION TO TOTAL NET LEVERAGE RECONCILIATION TO TOTAL LIQUIDITY
Slide 25: Reconciliation to Senior Secured Net Leverage
RECONCILIATION TO SENIOR SECURED NET LEVERAGE 25
Slide 26: Additional Reconciliations
ADDITIONAL RECONCILIATIONS 26 RECONCILIATION TO LEVERAGE RATIO For the years ending after December 31, 2025, the Company is unable to present a quantitative reconciliation of its forward-looking non-GAAP measure, leverage ratio, which is defined as total debt less cash divided by Adjusted EBITDA, to