O-i Glass, Inc. · NYSE:OI
O-i Glass — Wells Fargo 2025 Industrials & Materials Conference
23 slides from O-i Glass's conference presentation, Jun 11, 2025
Slide 1: Wells Fargo Conference
WELLS FARGO CONFERENCE JUNE 11, 2025
Slide 2: Safe Harbor Comments and Forward-Looking Statements
SAFE HARBOR COMMENTS AND FORWARD-LOOKING STATEMENTS 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 Secu
Slide 3: Who We Are Today
WHO WE ARE TODAY GLOBAL LEADER in glass packaging refocused on transforming COMPETITIVENESS, increasing ECONOMIC PROFIT and growing the VALUE of the company 6,000 Customer Excellence Sell into 74 ~21,000 Serve countries through employees, Top Quartile Net network of 69 TOP Promoter Score (NPS) custo
Slide 4: Robust Investment Thesis
RESHAPING O-I TO BECOME THE ‘BEST VALUE’ PACKAGING OPTION EARNINGS IMPROVEMENT Transforming O-I’s cost base (aEBITDA, $M) to become highly competitive ≥ 1,650 > 8% 5YR CAGR Optimizing how we work across the ROBUST value chain with suppliers and customers ≥1,450 INVESTMENT 1,150-1,200 THESIS Building
Slide 5: Our Right to Win
OUR RIGHT TO WIN Consumers Privileged Refocus On & Customers CUSTOMER COMPETITIVENESS PREFER GLASS RELATIONSHIPS From Scale Privileged Footprint With GROWTH GLOBAL Reach Opportunities With LOCAL Touch 5
Slide 6: Increase Shareholder Value
LEVERAGING RIGHT TO WIN WILL CREATE VALUE TRANSFORM RETURN CAPITAL TO COST COMPETITIVENESS SHAREHOLDERS INVEST IN INCREASE DRIVE PROFITABLE GROWTH TARGETED GROWTH SHAREHOLDER LEVERAGING OPTIMIZED NETWORK VALUE STRENGTHEN BALANCE SHEET DELIVER HIGHER EARNINGS, FCF (Financial Leverage Ratio ≤ 2.5X) AN
Slide 7: Value Creation Roadmap
VALUE CREATION ROADMAP HORIZON 3 (2028+) ECONOMIC PROFIT (EP) STRATEGIC OPTIONALITY MINDSET HORIZON 2 (2026+) PROFITABLE GROWTH FUTURE O-I EP HORIZON 1 (2024+) CAPTURE FIT TO WIN CURRENT O-I EP CAPTURE FIT TO WIN: PROFITABLE GROWTH: STRATEGIC OPTIONALITY: Radically reduce total enterprise costs and
Slide 8: Reframing Success
REFRAMING SUCCESS Sustainable aEBITDA FCF % Economic aEBITDA Margin % of Sales Spread* 2027 Target ≥ $1,450M Low 20s ≥ 5% ≥ 2% 2029 Objective ≥ $1,650M Mid 20s ≥ 7% ≥ 4% LONG-TERM Organic Increase premium Net Promoter 20%+ reduction in Achieve Return unit cost in relevant OBJECTIVES growth portfolio
Slide 9: Improve Earnings
IMPROVE EARNINGS CONSISTENT IMPROVEMENT in Sustainable aEBITDA ADJUSTED EBITDA ($M) ≥ $1,650M TBD (Mid 20s) ≥ $1,450M (Low 20s) $1,100M (17%) Includes potential impact of fav. Energy contract resets in 2026/2027 2024 Net Sales Production Fit to 2027 Fit To Profitable Strategic Prelim. Price Volume N
Slide 10: 1Q25: Delivering on Our Fit to Win Savings Objective
1Q25: DELIVERING ON OUR FIT TO WIN SAVINGS OBJECTIVE STRONG FIT TO WIN BENEFITS and solid progress towards ≥ $650M savings target by 2027 2024 2025 1 3 YEAR 1 ($M) ACTUAL 1Q25 TARGET TARGET COMMENTS All actions completed to secure 2025 benefits Reshape SG&A 14 22 100 200 Expect all actions to achiev
Slide 11: Capital Allocation Driving Economic Profit
CAPITAL ALLOCATION DRIVING ECONOMIC PROFIT FIT TO WIN INVESTMENTS IMPROVE PRICE, MIX, COST • SG&A Restructuring & PRODUCTIVITY TO DRIVE • Network Optimization / Restructuring • Capacity / Productivity Investments +2% ECONOMIC SPREAD PROFITABLE GROWTH • Capacity / Productivity Investments • Line Exte
Slide 12: Reaffirming 2025 Guidance
REAFFIRMING 2025 GUIDANCE 2025 EARNINGS EXPECTED TO IMPROVE 50% TO 85% FROM 2024 EST. QUARTERLY ALLOCATION OF aEPS 2025 Guidance 10%-12% 2024 2025E 27%-33% Adjusted EPS $0.81 $1.20 - $1.50 Free Cash Flow ($M) ($128) $150 - $200 28%-35% Strong start to 2025 and successfully managing elements within 2
Slide 13: Conclusion – Executing on What Is in Our Control
CONCLUSION – EXECUTING ON WHAT IS IN OUR CONTROL EXECUTING VALUE CREATION ROADMAP STRONG START TO 2025 HORIZON 3 (2028+) STRATEGIC OPTIONALITY FUTURE O-I EP CAPTURE MARKETS ARE IMPROVING HORIZON 2 (2026+) PROFITABLE GROWTH HORIZON 1 (2024+) EXECUTING FIT TO WIN FIT TO WIN 2025 EARNINGS EXPECTED TO C
Slide 14: Appendix
APPENDIX 14
Slide 15: Manufacturing in the Market for the Market
Manufacturing In the Market for the Market 69 PLANTS IN 19 ~4.5% SUBJECT TO 85% SALES/SUPPLY COUNTRIES ONGOING TARIFF WITHIN 300 MILES UNCERTAINTY OF O-I PLANTS 15 O-I operations
Slide 16: New Tariffs Represent Both Challenges and Opportunities
NEW TARIFFS REPRESENT BOTH CHALLENGES AND OPPORTUNITIES Changes in global trade policy may create both new challenges CROSS BORDER SHIPMENTS AND O-I CROSS BOARDER SHIPMENTS and opportunities which cannot be fully determined at this stage POTENTIAL TARIFF EXPOSURE AND NEW TARIFF EXPOSURES (Includes e
Slide 17: Sustainability = Productivity + Efficiency
SUSTAINABILITY = PRODUCTIVITY + EFFICIENCY Updated 2030** LOW CARBON RECYCLED CONTENT Goals ENERGY GHG by 47% (1.5˚ Pathway) ENERGY Renewable Electricity to 80% MANUFACTURING EFFICIENCY TECHNOLOGY Cullet to 60% MANUFACTURING LIGHTER EFFICIENCY WEIGHT Prior 2030 Goals* As of 2024 GHG by 25% (2.0˚ Pat
Slide 18: Fit to Win: Reshaping O-I's Competitive Position
FIT TO WIN: RESHAPING O-I’S COMPETITIVE POSITION FIT TO WIN Drives ≥ $650M BENEFITS through 2027 FIT TO WIN BENEFITS ($M) 2025 $100 $100 $25 $25 $250 2026 $170 $150 $100 $100 $520 2027 $200 $150 $150 $150 ≥$650 Reshape SG&A (A) PHASE A Initial Network Optimization (A) Cost Transformation (B) PHASE B
Slide 19: Non-GAAP Financial Measures
NON-GAAP FINANCIAL MEASURES 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 presentation
Slide 20: Reconciliation to Adjusted Earnings
RECONCILIATION TO ADJUSTED EARNINGS The Company is unable to present a quantitative reconciliation of its forward-looking non-GAAP measure, adjusted earnings and adjusted earnings per share, for the periods ending after December 31, 2024 to its most directly comparable GAAP financial measure, net ea
Slide 21: Reconciliation to Adjusted EBITDA
RECONCILIATION TO ADJUSTED EBITDA For the periods ending after December 31, 2024, the Company is unable to present a quantitative reconciliation of its forward-looking non-GAAP measure, adjusted EBITDA, to its most directly comparable U.S. GAAP financial measure, net earnings (loss) attributable to
Slide 22: Additional to Free Cash Flow
ADDITIONAL TO FREE CASH FLOW The Company is unable to present a quantitative reconciliation of its forward-looking non-GAAP measures, free cash flow and free cash flow as a percentage of net sales, for all periods after December 31, 2025 to its most directly comparable U.S. GAAP financial measure, c
Slide 23: Additional Reconciliations
ADDITIONAL RECONCILIATIONS RECONCILIATION TO ADJUSTED EBITDA MARGIN For the periods ending after December 31, 2024, the Company is unable to present a quantitative reconciliation of its forward-looking non-GAAP measure adjusted EBITDA margin to its most directly comparable U.S. GAAP financial measur
O-I Glass — Wells Fargo 2025 Industrials & Materials Conference on 6ix