Slide 1: CORNING
CORNING
Slide 2: Second-Quarter 2026 Investor Call
Second-Quarter 2026 Investor Call Corning Reports Second-Quarter 2026 Financial Results July 28, 2026
Slide 3: Forward-Looking and Cautionary Statements
Forward-Looking and Cautionary Statements The statements contained in this presentation and related comments by management that are not historical facts or information and contain words such as “will,” “believe,” “anticipate,” “expect,” “intend,” “plan,” “seek,” “see,” “would,” “target,” “estimate,”
Slide 4: Use of Non-GAAP Financial Information
Use of Non-GAAP Financial Information Corning has included non-GAAP financial measures in this presentation to supplement Corning’s consolidated financial statements presented on a GAAP basis. Management uses non-GAAP financial measures (our “core performance measures”), together with GAAP financial
Slide 5: Second-Quarter 2026 Investor Call
Second-Quarter 2026 Investor Call Corning Reports Second-Quarter 2026 Financial Results July 28, 2026
Slide 6: Second-Quarter 2026 Core Performance
CEO PERSPECTIVE Second-Quarter 2026 Core Performance $4.74B 20.9% $0.78 Q2 Core Sales Q2 Core Operating Margin Q2 Core EPS 17% Increase YoY 190 bps Increase YoY 30% Increase YoY “In the second quarter, we delivered outstanding results, and we upgraded our Springboard Plan to grow sales to an annuali
Slide 7: Optical Communications MAP
CEO PERSPECTIVE Optical Communications MAP • Q2 sales grew 32% and net income grew 77% year over year • Continue to see strong demand for our Gen AI products in Enterprise, and our orders are accelerating • Enterprise sales grew 65% year over year, with Gen AI sales nearly doubling • Results current
Slide 8: Solar MAP
CEO PERSPECTIVE Solar MAP • Sales grew 90% year over year • Completed an extended maintenance shutdown and equipment upgrade at our solar wafer facility • Expect our sales and profitability to improve in Q3 © 2026 Corning Incorporated 88
Slide 9: Deep Customer Partnerships
CEO PERSPECTIVE Deep Customer Partnerships • Last year, Apple expanded our longstanding relationship • In January, announced multiyear, up to $6B agreement with Meta • In May, Nvidia announced a multiyear commercial and technology partnership with Corning • In June, Amazon announced a multibillion-
Slide 10: Internal Springboard Plan
CEO PERSPECTIVE Internal Springboard Plan ANNUALIZED SALES RUN RATE $40B $30B $20B $13B © 2026 Corning Incorporated 10
Slide 11: Assumptions in Upgraded Internal Plan
CEO PERSPECTIVE For 2027-2030, we incorporated a forward rate of 150 JPY/USD to account for a weaker Yen Assumptions Flat TV, IT, and smartphone end markets, memory price impact included in Upgraded Declining ICE demand & increasing Corning Auto content Internal Plan Capturing a larger Solar opportu
Slide 12: Internal Springboard Plan
CEO PERSPECTIVE Internal Springboard Plan ANNUALIZED SALES RUN RATE $40B $30B $20B $13B © 2026 Corning Incorporated 12
Slide 13: Internal Springboard Plan
CEO PERSPECTIVE Internal Springboard Plan ANNUALIZED SALES RUN RATE $40B $30B $20B $13B © 2026 Corning Incorporated 13
Slide 14: Accelerating Springboard Growth
CEO PERSPECTIVE Accelerating Springboard Growth ANNUALIZED SALES RUN RATE $40B $30B AGR 15% C $20B $13B © 2026 Corning Incorporated 14
Slide 15: Accelerating Springboard Growth
CEO PERSPECTIVE Accelerating Springboard Growth ANNUALIZED SALES RUN RATE $40B GR CA 19% $30B AGR 15% C $20B $13B © 2026 Corning Incorporated 15
Slide 16: Growth across our MAPs
CEO PERSPECTIVE Growth across our MAPs ANNUALIZED SALES RUN RATE $40B GR CA 19% Photonics $30B Enterprise GR 15 % CA $20B $13B Carrier Solar Automotive Consumer Electronics Life Sciences © 2026 Corning Incorporated 16
Slide 17: Enterprise: We have the opportunity to grow faster than GPU Growth
CEO PERSPECTIVE Enterprise: We have the opportunity to grow faster than GPU Growth © 2026 Corning Incorporated 17
Slide 18: Enterprise: We have the opportunity to grow faster than GPU Growth
CEO PERSPECTIVE Enterprise: We have the opportunity to grow faster than GPU Growth © 2026 Corning Incorporated 18
Slide 19: Third Switch Layer to connect all the GPUs in a cluster
CEO PERSPECTIVE Third Switch Layer to connect all the GPUs in a cluster >130K 2-Layer Network 3-Layer Network (3 x Connections) Super 1 N LAYER 3 Spine < 130K GPU Break Point* > (2 x Connections) LAYER 2 Spine Spine 1 2 3 N Switches 1 2 3 N Switches 1 2 4 5 6 7 N Leaf 1 2 4 5 6 7 N (1 x Connection)
Slide 20: Enterprise: We have the opportunity to grow faster than GPU Growth
CEO PERSPECTIVE Enterprise: We have the opportunity to grow faster than GPU Growth © 2026 Corning Incorporated 20
Slide 21: We increase bandwidth by increasing lane rate or quantity of lanes
CEO PERSPECTIVE We increase bandwidth by increasing lane rate (SerDes) or increasing the quantity of lanes Increases in quantity of lanes requires additional fiber or optical schematics to support (BiDi, etc.) © 2026 Corning Incorporated 21
Slide 22: Enterprise: We have the opportunity to grow faster than GPU Growth
CEO PERSPECTIVE Enterprise: We have the opportunity to grow faster than GPU Growth © 2026 Corning Incorporated 22
Slide 23: Brand new large optical network opportunity… timing and size hard to predict
CEO PERSPECTIVE Brand new large optical network opportunity… timing and size hard to predict What’s been announced? ”Vera Rubin Ultra NVL576 will combine eight separate MGX NVL racks, each with 72 Rubin Ultra GPUs, all in a single 576-GPU NVLink domain with copper and direct optical connections.” (N
Slide 24: Enterprise: We have the opportunity to grow faster than GPU Growth
CEO PERSPECTIVE Enterprise: We have the opportunity to grow faster than GPU Growth Our estimate is that optical content will increase 1.3x to 1.5x per GPU by 2028 © 2026 Corning Incorporated 24
Slide 25: Our New Photonics MAP
CEO PERSPECTIVE The Photonics MAP serves a new class of customers Our New We are bringing Optics “inside the box” for a new generation of technology (CPO/NPO) Photonics Although CPO/NPO will likely start with Scale-Out, it is MAP Scale-Up that drives the dramatic increase in size/scale Optical Scale
Slide 26: New “Inside the Box” Optical functions create opportunity for Corning Passive Photonics
CEO PERSPECTIVE New “Inside the Box” Optical functions create opportunity for Corning Passive Photonics to manage light • Light creation, modulation, and delivery of the encoded optical signal move “inside the box” at the Silicon Photonic Optical Engine • Tomorrow: All the passive photonics to move
Slide 27: CEO Summary
CEO PERSPECTIVE CEO Summary Delivered a great Q2, results demonstrate progress on "20-30-40" Springboard Plan Plan to grow annualized sales run rate to $20B by end of 2026, $30B by end of 2028, $40B by end of 2030 We're entering a new phase of accelerating growth, with earnings growing faster than s
Slide 28: Second-Quarter 2026 Core Performance
CFO PERSPECTIVE Second-Quarter 2026 Core Performance $4.74B 20.9% $0.78 Q2 Core Sales Q2 Core Operating Margin Q2 Core EPS 17% Increase YoY 190 bps Increase YoY 30% Increase YoY “In the second quarter, we delivered our ninth consecutive quarter of year-over-year growth and continued to enhance our f
Slide 29: Optical Communications
SEGMENT RECAP Optical Communications $2.07B $438M Q2 Net Sales Q2 Net Income Up 32% YoY Up 77% YoY Segment delivered record profitability in Q2 Enterprise grew 65% year over year, and sales related to AI data centers nearly doubled Continued strong demand for our Gen AI innovations and orders are ac
Slide 30: Glass Innovations
SEGMENT RECAP Glass Innovations $1.46B $354M Q2 Net Sales Q2 Net Income Up 1% YoY Up 9% YoY Year over year growth driven by higher Display glass sales Expect memory prices to impact the handheld market in 2026, but for Corning to outperform Shift toward larger-size TVs favors Corning's Gen 10.5 glas
Slide 31: Automotive
SEGMENT RECAP Automotive $471M $82M Q2 Net Sales Up Q2 Net Income 2% YoY Up 4% YoY Sales to the automotive market were up 2% year over year and, driven by More Corning content, outperformed the global automotive vehicle market Diesel sales grew 3% year over year and 13% sequentially, driven by impro
Slide 32: Solar
SEGMENT RECAP Solar $438M $(7)M Q2 Net Sales Q2 Net Loss Customer demand is strong across the MAP, sales grew 90% year over year Expect sales and profit to improve beginning in Q3 Remain on track to build a $3B revenue stream, with profitability above the corporate average 2025 Corning Incorporated
Slide 33: Life Sciences and Emerging Growth Businesses
SEGMENT RECAP Life Sciences and Emerging Growth Businesses $294M $(21)M Q2 Net Sales Q2 Net Loss Sales were up 8% sequentially, driven by strong performance in our Life Sciences Research business Net Income improved 13% sequentially 2025 Corning Incorporated © 2026 33
Slide 34: Outlook
CFO PERSPECTIVE Outlook ~$4.9B - $5.0B $0.85 - $0.89 Q3 Core Sales Q3 Core EPS Looking Ahead • Solar sales and profit improving in Q3 • For CapEx, expect to increase our investment run rate in Q3 and Q4, to ~$2B for the full year, to support growth in Optical Communications • For the full year, rema
Slide 35: Upgraded High-Confidence Plan
CFO PERSPECTIVE Upgraded High-Confidence Plan ANNUALIZED SALES RUN RATE $40B High-Confidence Plan Includes: • Macroeconomic slowdowns • Changes in government policy $35B • Timing of secular trends $30B • Rate of adoption for innovations • Timing of Scale-Up opportunity $27B $20B $17.6B © 2026 Cornin
Slide 36: Transformed Our Financial Profile Since Springboard Launch
CFO PERSPECTIVE Transformed Our Financial Profile Since Springboard Launch Q4’23 Q2’26 Sales $3.27B $4.74B +45% Operating Margin 16.3% 20.9% +460bps EPS $0.39 $0.78 +100% ROIC 8.8% 14.9% +610bps © 2026 2025 Corning Incorporated 36
Slide 37: Improving Financial Profile
CFO PERSPECTIVE Improving Financial Profile Metrics Sales Accelerating sales growth 19% CAGR Q4'26 - Q4'30 Operating Margin At or above 20% EPS Growing faster than sales ROIC Improving to high teens Free Cash Flow (FY) Free cash flow grows as we grow sales © 2026 Corning Incorporated 37
Slide 38: Q&A Session
Q&A Session © 2026 Corning Incorporated
Slide 39: Corning’s 2026 Investor Outreach Plans
Corning’s 2026 Investor Outreach Plans September 9 – Citi 2026 Global TMT Conference Management visits to investor offices in select cities © 2026 Corning Incorporated 39
Slide 40: Appendix
Appendix CORNING
Slide 41: 2026 Supplemental Corporate Metrics
2026 Supplemental Corporate Metrics (as of July 28, 2026)(1)(2) Q3 2026 • Core Sales: ~$4.9B - $5.0B • Operating expenses: consistent with Q2 2026 • Other income/expense: (~$90M - $100M) • Non-controlling interest: (~$60M - $70M) • Core EPS: $0.85 - $0.89 • WASO: ~875M shares Full-Year 2026 • Operat
Slide 42: Q2 2026 Core Performance
Q2 2026 Core Performance Q2 Q1 Q2 $ in millions, except EPS 2026 2026 2025 Core Net Sales $4,738 $4,345 $4,045 Core Gross Margin $1,874 $1,700 $1,552 Gross Margin % 39.6% 39.1% 38.4% Core SG&A $590 $546 $508 % of Sales 12.5% 12.6% 12.6% Core RD&E $295 $278 $274 % of Sales 6.2% 6.4% 6.8% Core Operati
Slide 43: Q2 2026 Operating Performance by Segment
Q2 2026 Operating Performance by Segment Segment Net Sales Q2 Q1 % Q2 % $ in millions 2026 2026 change 2025 change Optical Communications $2,072 $1,846 12% $1,566 32% Carrier Network $803 $884 (9%) $797 1% Enterprise Network $1,269 $962 32% $769 65% Glass Innovations $1,463 $1,420 3% $1,443 1% Autom
Slide 44: Q2 2026 Core Performance
Q2 2026 Core Performance YTD YTD $ in millions, except EPS Q2 2026 Q2 2025 Core Net Sales $9,083 $7,724 Core Gross Margin $3,574 $2,947 Gross Margin % 39.3% 38.2% Core SG&A $1,136 $971 % of Sales 12.5% 12.6% Core RD&E $573 $545 % of Sales 6.3% 7.1% Core Operating Income $1,865 $1,431 Operating Margi
Slide 45: Year-to-Date Operating Performance by Segment
Year-to-Date Operating Performance by Segment Segment Net Sales YTD YTD % $ in millions Q2 2026 Q2 2025 change Optical Communications $3,918 $2,921 34% Carrier Network $1,687 $1,447 17% Enterprise Network $2,231 $1,474 51% Glass Innovations $2,883 $2,849 1% Automotive $908 $900 1% Auto, Glass and Ot
Slide 46: Adjusted Free Cash Flow Reconciliation
Adjusted Free Cash Flow Reconciliation Q2 Q2 YTD YTD $ in millions 2026 2025 2026 2025 Cash flows from operating activities $1,717 $708 $2,079 $859 Realized gains on translated earnings contracts and other $128 $51 $278 $107 Adjusted cash flows from operating activities $1,845 $759 $2,357 $966 Less:
Slide 47: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures Income Net income Gross Gross Operating Operating Equity before attributable to Tax Rate Q2 2026 Net sales SG&A RD&E Per Share margin margin % income margin % losses income Corning (a) taxes Incorporated As reported - GAAP $4,505 $1,628 36.1% $608 $299 $698 15.5%
Slide 48: Return on Invested Capital
Return on Invested Capital At Corning Return on Invested Capital (ROIC) is calculated based on the Core performance. We define ROIC as follows: Operating Income Tax Adjusted (Return) ROIC = Equity+Debt (Invested Capital) Numerator = Return (Operating Income Denominator = Invested Capital Tax Adjuste
Slide 49: Q2 2026 and 2025 Return on Invested Capital (ROIC)
Q2 2026 and 2025 Return on Invested Capital (ROIC) 2026 2025 GAAP to Core GAAP to Core GAAP Core GAAP Core Adjustments Adjustments Operating income $698 $291 $989 $573 $197 $770 Equity in (losses) earnings of affiliated companies ($5) $2 ($3) ($11) $14 $3 Operating income before interest and taxes $
Slide 50: Q2 2026 and 2025 GAAP to Core Reconciliation
Q2 2026 and 2025 GAAP to Core Reconciliation Income Net income Gross Gross Operating Operating Equity before attributable to Tax Rate (a) Q2 2026 Net sales SG&A RD&E Per Share margin margin % income margin % losses income Corning taxes Incorporated As reported - GAAP $4,505 $1,628 36.1% $608 $299 $6
Slide 51: Q2 2026 and 2025 Income Statement
Q2 2026 and 2025 Income Statement Consolidated Statements of Income Corning Incorporated and Subsidiary Companies (Unaudited; in millions, except per share amounts) Three months ended Six months ended June 30, June 30, 2026 2025 2026 2025 Net sales $ 4,505 $ 3,862 $ 8,649 $ 7,314 Cost of sales 2,877
Slide 52: CORNING
CORNING