Slide 1: Corning
CORNING
Slide 2: First-Quarter 2026 Investor Call
First-Quarter 2026 Investor Call Corning Reports First-Quarter 2026 Financial Results April 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. In managing the Company and assessing our financial performance, we adjust certain measures included in o
Slide 5: First-Quarter 2026 Investor Call
First-Quarter 2026 Investor Call Corning Reports First-Quarter 2026 Financial Results April 28, 2026
Slide 6: First-Quarter 2026 Core Performance
CEO PERSPECTIVE First-Quarter 2026 Core Performance $4.35B 20.2% $0.70 Q1 Core Sales Q1 Core Operating Margin Q1 Core EPS 18% Increase YoY 220 bps Increase YoY 30% Increase YoY “Our strong first-quarter results continued the powerful trajectory of our Springboard plan. Versus Springboard’s Q4-2023 s
Slide 7: Springboard Update
CEO PERSPECTIVE Springboard Update Upgrade in January • Internal plan to add $11B in incremental annualized sales by the end of 2028 Looking Ahead • Investor Event in New York City on May 6 • Plan to upgrade again and extend our Springboard plan through 2030 © 2026 Corning Incorporated 77
Slide 8: Solar MAP
CEO PERSPECTIVE Plan to build solar business into $2.5B Solar MAP revenue stream by 2028 • Q1 Solar sales grew 80% year-over-year • Plan to build a $2.5B revenue stream with profitability above the corporate average by 2028 • Making key strategic progress on commercial and policy fronts © 2026 Corni
Slide 9: Solar - Polysilicon
CEO PERSPECTIVE Solar - Polysilicon • Activated idle assets to serve the need for domestic solar polysilicon • Capacity is online and driving incremental sales in Q1 • Performed above our corporate operating margin target of 20% in Q1 • Focus on improving productivity, resulting in higher throughput
Slide 10: Solar - Wafers
CEO PERSPECTIVE Solar - Wafers • Added capability to transform polysilicon into higher-value domestically made solar wafers • Built the largest solar ingot and wafer facility in the U.S. in 18 months to establish commercial footprint and capture incentives • Have committed customers for our wafer ou
Slide 11: Solar - Modules
CEO PERSPECTIVE Solar - Modules • Corning has adjacent world-class capabilities in materials that represent 90% of the mass in a solar panel • Acquired and ramped module manufacturing facility in Arizona to position for innovation • Incremental sales from modules driving Q1 results • Profitability s
Slide 12: Enterprise Networks
CEO PERSPECTIVE Enterprise Networks • Announced multiyear, up to $6B agreement with Meta in January • Concluded two more large, long-term agreements with hyperscale customers, similar in size and duration to the Meta agreement • Agreements share the risk and rewards of the required expansions with o
Slide 13: Carrier Networks
CEO PERSPECTIVE Carrier Networks • Expanded and extended our multiyear agreement with Lumen • Data center interconnect and fiber-to-the-home contributed to Carrier Networks growth in Q1 • Fiber-to-the-home recovering strongly, as outlined at beginning of Springboard • Carriers planning to expand the
Slide 14: Corning Investor Event - May 6
CEO PERSPECTIVE Corning Investor Event - May 6 Plan to share a significant upgrade to our Springboard plan Demand for our innovation capabilities has never been stronger Introducing a new Photonics Market-Access Platform in Optical Communications © 2026 Corning Incorporated 14
Slide 15: First-Quarter 2026 Core Performance
CFO PERSPECTIVE First-Quarter 2026 Core Performance $4.35B 20.2% $0.70 Q1 Core Sales Q1 Core Operating Margin Q1 Core EPS 18% Increase YoY 220 bps Increase YoY 30% Increase YoY “Our first-quarter results show continued excellent performance on our Springboard plan. We delivered our eighth consecutiv
Slide 16: Transformed Our Financial Profile Since Springboard Launch
CFO PERSPECTIVE Transformed Our Financial Profile Since Springboard Launch Q4’23 Q1’26 Sales $3.27B $4.35B +33% Operating Margin 16.3% 20.2% +390bps EPS $0.39 $0.70 +79% ROIC 8.8% 13.5% +470bps © 2026 2025 Corning Incorporated 16
Slide 17: Springboard – Internal & High-Confidence Plans
CFO PERSPECTIVE Springboard – Internal & High-Confidence Plans INCREMENTAL ANNUALIZED SALES RUN-RATE VS. Q4’23 $6.5B Internal Plan $5.75B High-Confidence Plan Incremental Annualized Sales vs. Q4’23 ($B) © 2026 Corning Incorporated General – Corning (L4) 17
Slide 18: Springboard – Internal & High-Confidence Plans
CFO PERSPECTIVE Springboard – Internal & High-Confidence Plans INCREMENTAL ANNUALIZED SALES RUN-RATE VS. Q4’23 $6.5B Internal Plan $5.75B High-Confidence Plan Incremental Annualized Sales vs. Q4’23 ($B) © 2026 Corning Incorporated General – Corning (L4) 18
Slide 19: Segment Reporting Structure
CFO PERSPECTIVE Segment Reporting Structure Optical Glass Automotive Solar Life Sciences Communications Innovations and Emerging Growth Businesses Enterprise Networks Electronics Glass Auto, Glass, and Other Hemlock Polysilicon Life Sciences Carrier Networks Advanced Optics Diesel Wafers Emerging Gr
Slide 20: Optical Communications
SEGMENT RECAP Optical Communications $1.85B $387M Q1 Net Sales Q1 Net Income Up 36% YoY Up 93% YoY Q1 sales growth driven by robust demand for Gen AI products Sales in both Enterprise and Carrier rose 36% year over year Within Enterprise, entered into two additional large, long-term agreements with
Slide 21: Glass Innovations
SEGMENT RECAP Glass Innovations $1.42B $324M Q1 Net Sales Q1 Net Income Up 1% YoY Up 2% YoY Display glass volume in Q1 was slightly better than our expectations Demand for premium Gorilla Glass products remains resilient, and we expect to outperform the market driven by strong demand for our innovat
Slide 22: Automotive
SEGMENT RECAP Automotive $437M $70M Q1 Net Sales Q1 Net Income Down 1% YoY Up 3% YoY Sales down 1% year over year, compared to the global automotive vehicle market down 3% Higher heavy-duty sales in Europe and India largely offset a weaker heavy-duty market in North America Remain focused on executi
Slide 23: Solar
SEGMENT RECAP Solar $370M $7M Q1 Net Sales Q1 Net Income Sales grew 80% year over year Goal to build a $2.5 billion revenue stream in this MAP, with profitability above the corporate average, by 2028 Making key strategic progress on the commercial and policy fronts Ramp continues with polysilicon bu
Slide 24: Life Sciences and Emerging Growth Businesses
SEGMENT RECAP Life Sciences and Emerging Growth Businesses $272M $(24)M Q1 Net Sales Q1 Net Income Consistent YoY Up $6M YoY Sales consistent year over year with higher net income year over year Results include costs associated with multiple emerging growth programs 2025 Corning Incorporated © 2026
Slide 25: Outlook
CFO PERSPECTIVE Outlook ~$4.6B $0.73 - $0.77 Q2 Core Sales Q2 Core EPS Factors Considered in Guide • Additional ~$30M of expense in Q2 versus Q1 as our solar wafer plant undergoes extended maintenance shutdown © 2026 Corning Incorporated 25
Slide 26: Capital Allocation
CFO PERSPECTIVE Capital Allocation Prioritize Investing in Organic Growth Opportunities This approach creates the most value for shareholders Maintaining Strong, Efficient Balance Sheet One of the longest debt tenors in the S&P 500 Returning Excess Cash to Shareholders Expect to continue strong trac
Slide 27: CFO Summary
CFO PERSPECTIVE CFO Summary Outstanding Performance Captured significant sales growth and transformed our financial profile Expect our momentum to build May 6 Investor Event - NYC Upgrade and extend Springboard Plan through 2030 Share underlying growth drivers in our MAPs Detail technical drivers of
Slide 28: Q&A Session
Q&A Session © 2026 Corning Incorporated
Slide 29: Corning's 2026 Investor Outreach Plans
Corning’s 2026 Investor Outreach Plans May 6 – Corning Investor Event at NYSE May 19 – J.P. Morgan Global Technology, Media & Telecom Conference Management visits to investor offices in select cities © 2026 Corning Incorporated 29
Slide 30: Appendix
Appendix CORNING
Slide 31: 2026 Supplemental Corporate Metrics (as of April 28, 2026)
2026 Supplemental Corporate Metrics (as of April 28, 2026)(1)(2) Q2 2026 • Core Sales: ~$4.6B • Operating expenses: consistent with Q1 2026 • Other income/expense: slightly higher net expense versus Q1 2026 • Non-controlling interest: (~$40M) • Core EPS: $0.73 - $0.77 Full-Year 2026 • Operating expe
Slide 32: Q1 2026 Core Performance
Q1 2026 Core Performance Q1 Q4 Q1 $ in millions, except EPS 2026 2025 2025 Core Net Sales $4,345 $4,412 $3,679 Core Gross Margin $1,700 $1,682 $1,395 Gross Margin % 39.1% 38.1% 37.9% Core SG&A $546 $507 $463 % of Sales 12.6% 11.5% 12.6% Core RD&E $278 $284 $271 % of Sales 6.4% 6.4% 7.4% Core Operati
Slide 33: Q1 2026 Operating Performance by Segment
Q1 2026 Operating Performance by Segment Segment Net Sales Q1 Q4 % Q1 % $ in millions 2026 2025 change 2025 change Optical Communications $1,846 $1,701 9% $1,355 36% Carrier Network $884 $811 9% $650 36% Enterprise Network $962 $890 8% $705 36% Glass Innovations $1,420 $1,499 (5%) $1,406 1% Automoti
Slide 34: Adjusted Free Cash Flow Reconciliation
Adjusted Free Cash Flow Reconciliation Q1 Q1 $ in millions 2026 2025 Cash flows from operating activities $362 $151 Realized gains on translated earnings contracts and other $150 $56 Adjusted cash flows from operating activities $512 $207 Less: Capital expenditures $332 $208 Plus: Proceeds from CHIP
Slide 35: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures Income Net income Gross Gross Operating Operating Equity before attributable to Tax Rate Q1 2026 Net sales margin margin % SG&A RD&E income margin % earnings income Corning (a) Per Share taxes Incorporated As reported - GAAP $4,144 $1,528 36.9% $588 $278 $639 15.4
Slide 36: 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 37: Q1 2026 and 2025 Return on Invested Capital (ROIC)
Q1 2026 and 2025 Return on Invested Capital (ROIC) 2026 2025 GAAP GAAP to Core Core GAAP GAAP to Core Core Adjustments Adjustments Operating income $639 $237 $876 $445 $216 $661 Equity in earnings of affiliated companies $2 $2 $4 ($1) $3 $2 Operating income before interest and taxes $641 $239 $880 $
Slide 38: Q1 2026 and 2025 GAAP to Core Reconciliation
Q1 2026 and 2025 GAAP to Core Reconciliation Income Net income Gross Gross Operating Operating Equity before attributable to Q1 2026 Net sales margin margin % SG&A RD&E income margin % earnings income Corning Tax Rate (a) Per Share taxes Incorporated As reported - GAAP $4,144 $1,528 36.9% $588 $278
Slide 39: Q1 2026 and 2025 Income Statement
Q1 2026 and 2025 Income Statement Corning Incorporated and Consolidated Statements of Income Subsidiary Companies (Unaudited; in millions, except per share amounts) Three months ended March 31, 2026 2025 Net sales $ 4,144 $ 3,452 Cost of sales 2,616 2,238 Gross margin 1,528 1,214 Operating expenses:
Slide 40: Corning
CORNING