O-i Glass, Inc. · NYSE:OI
O-i Glass — Wells Fargo 16th Annual Industrials and Materials Conference (June 2026)
23 slides from O-i Glass's conference presentation, Jun 10, 2026
Slide 1: Capital Markets Presentation 2Q 2026
CAPITAL MARKETS PRESENTATION 2Q 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: Who We Are Today
WHO WE ARE TODAY 3 GLOBAL LEADER in glass packaging refocused on transforming COMPETITIVENESS, increasing ECONOMIC PROFIT and growing the VALUE of the company Customer Excellence Sell into 74 ~19,000 countries through employees, Top Quartile Net network of 61 70+ nationalities, Promoter Score (NPS)
Slide 4: State of the Business
STATE OF THE BUSINESS 4 Strong Americas Performance And Momentum • Excellent Fit To Win progress with segment operating profit expected to be up ~ 60% ’24–‘26 Europe Transformation Accelerating Despite Macro Headwinds • Significant structural progress to improve long-term competitive position via Fi
Slide 5: Robust Investment Thesis
RESHAPING O-I TO BECOME THE ‘BEST VALUE’ PACKAGING OPTION 5 EARNINGS IMPROVEMENT Transforming O-I’s cost base (aEBITDA, $M) to become highly competitive ≥ 1,650 > 8% 5YR CAGR Optimizing how we work across the ROBUST value chain with suppliers and customers 1,125-1,225 ≥ 1,450 INVESTMENT 1,218 THESIS
Slide 6: Our Right to Win
OUR RIGHT TO WIN 6 Consumers Privileged Refocus On & Customers CUSTOMER COMPETITIVENESS PREFER GLASS RELATIONSHIPS From Scale Privileged Footprint With GROWTH GLOBAL Reach Opportunities With LOCAL Touch 6
Slide 7: Value Creation Roadmap
VALUE CREATION ROADMAP 7 HORIZON 3 (2028+) ECONOMIC PROFIT (EP) STRATEGIC OPTIONALITY MINDSET HORIZON 2 (2026+) PROFITABLE GROWTH FUTURE O-I EP HORIZON 1 (2024+) CAPTURE FIT TO WIN CURRENT O-I EP CAPTURE FIT TO WIN: PROFITABLE GROWTH: STRATEGIC OPTIONALITY: Radically reduce total enterprise costs an
Slide 8: Fit to Win Status
FIT TO WIN STATUS 8 FIT TO WIN AHEAD OF SCHEDULE and Delivering Meaningful Benefits NET FIT TO WIN BENEFITS ($M) 1 2024 2025 2026 3 YEAR ACTUAL ACTUAL 1Q ACTUAL FY TARGET TARGET COMMENTS 2 Reshape SGA 14 98 21 70 200 Org actions to be completed by mid-2026 PHASE Announced plant closures (EU) to be c
Slide 9: Solid Progress Towards Investor Day Targets
SOLID PROGRESS TOWARDS INVESTOR DAY TARGETS 9 Focused On 2027 INVESTOR DAY TARGETS Driven By Fit To Win PROGRESS TOWARDS 2027 I-DAY GOALS ≥ $1,450M LOW 20%s ≥ $750M ≥ 5% ≤ 2.5x ≥ 2% aEBITDA aEBITDA %Margin Fit To Win Benefits FCF % Sales Leverage Ratio Normalized ES 2024 2025 2026F 2027 I-Day Target
Slide 10: 2026 Financial Outlook
2026 FINANCIAL OUTLOOK 10 STABLE FY26 GUIDANCE, As Balance Sheet Remains Stable 2026 GUIDANCE (as of 6/9/26) SOUND BALANCE SHEET 2025 2026E NET DEBT LEVERAGE RATIO aEBITDA ($M) $1,218 $1,125 - $1,225 aEPS (per share) 1 $1.60 $1.00 - $1.50 2024 3.9x FCF ($M) $168 $50 - $150 LEVERAGE RATIO 3.5x Mid 3x
Slide 11: Conclusion
CONCLUSION 11 F T W D R I V I NG I M P ROV I NG F U N D A M E N TA L S A N D I N C R E A S I NG S H A R E H O L D E R VA L U E • SOUND STRATEGY TO CREATE SHAREHOLDER VALUE • FIT TO WIN IS DELIVERING AND ENABLES FUTURE PROFITABLE GROWTH • EXPECT IMPROVED 2H26 VOLUMES SUPPORTED BY NEW BUSINESS WINS •
Slide 12: Appendix
APPENDIX ‘7 *
Slide 13: Full Year 2026 Outlook
FULL YEAR 2026 OUTLOOK ( A S O F 6 / 9 / 2 6 ) 13 AG G R E S S I V E LY M A N AG I NG L E V E R S I N O - I C O N T ROL ; R E V I S E D G U I D A NC E D U E TO E N E R G Y I N F L AT I ON 2026 RISK ADJUSTED GUIDANCE Adj. EBITDA ($M) Adjusted EPS FCF ($M) ORIGINAL GUIDANCE (from 2/11/26) $1,250 - $1,
Slide 14: 2026 Key Guidance Sensitivities
2026 KEY GUIDANCE SENSITIVITIES 14 VOLUME & ENERGY MITIGATING EU ENERGY RISK % EU NG Covered by Energy APPROXIMATE EPS SENSITIVITY TO 1% CHANGE IN Management Practices ANNUAL VOLUME • $0.07/sh for 1% change in sales volume Mitigated 75% - 80% of EU YTG • $0.13/sh for 1% change in production volume N
Slide 15: 2026 Key Guidance Assumptions
2026 KEY GUIDANCE ASSUMPTIONS ( A S O F 6 / 9 / 2 6 ) 15 2026 BUSINESS DRIVERS FX 2026 vs 2025 BUSINESS DRIVER ▲ Fav ▼Unfav 2026 COMMENTS FX RATE ASSUMPTIONS AND APPROXIMATE aEBITDA ▲ $1.125B - $1.225B ANNUAL IMPACT ON EPS FROM 10% FX CHANGE Sales Volume ►/▼ ~ Flat to down slightly, may exit some un
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 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, 2025 to its most directly comparable GAAP financial measure, net
Slide 18: Reconciliation for Segment Operating Profit
RECONCILIATION FOR SEGMENT OPERATING PROFIT 18 The Company is unable to present a quantitative reconciliation of its forward-looking non-GAAP measure, segment operating profit, for the periods ending after December 31, 2025 to its most directly comparable GAAP financial measure, earnings (loss) befo
Slide 19: Reconciliation to Adjusted EBITDA and Adjusted EBITDA Margin
RECONCILIATION TO ADJUSTED EBITDA AND ADJUSTED EBITDA MARGIN 19 For the periods ending after December 31, 2025, the Company is unable to present a quantitative reconciliation of its forward-looking non-GAAP measure, adjusted EBITDA and adjusted EBITDA margin, to its most directly comparable U.S. GAA
Slide 20: Reconciliation to Net Debt Leverage Ratio
RECONCILIATION TO NET DEBT LEVERAGE RATIO 20 For the years ending after December 31, 2025, the Company is unable to present a quantitative reconciliation of its forward-looking non-GAAP measure, net debt leverage ratio, which is defined as total debt less cash divided by Adjusted EBITDA, to its most
Slide 21: Normalized Economic Profit and Spread Reconciliation
NORMALIZED ECONOMIC PROFIT AND SPREAD RECONCILIATION 21 For the years ending after December 31, 2025, the Company is unable to present a quantitative reconciliation of its forward-looking non-GAAP measures, economic profit, economic spread, normalized economic profit and normalized economic spread t
Slide 22: Reconciliation to FCF and FCF as Percentage of Sales
RECONCILIATION TO FCF AND FCF AS PERCENTAGE OF SALES 22 The Company is unable to present a quantitative reconciliation of its forward-looking non-GAAP measures, free cash flow, for all periods after 2026 and for free cash flow as a percentage of net sales, for all periods after December 31, 2025 to
Slide 23: Reconciliation to Adjusted Effective Tax Rate
RECONCILIATION TO ADJUSTED EFFECTIVE TAX RATE 23 The Company is unable to present a quantitative reconciliation of its forward-looking non-GAAP measure, adjusted effective tax rate, for the years ending after December 31, 2025, to its most directly comparable GAAP financial measure, provision for in
O-I Glass — Wells Fargo 16th Annual Industrials and Materials Conference (June 2026) on 6ix