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Corning Reports Fourth-Quarter and Full-Year 2025 Financial Results Full-Year 2025 Investor Call January 28, 2026
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© 2026 Corning Incorporated 3 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,” “forecast” or similar expressions are forward-looking statements. These forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and include estimates and assumptions related to economic, competitive and legislative developments. Such statements relate to future events that by their nature address matters that are, to different degrees, uncertain. These forward-looking statements relate to, among other things, the Company’s Springboard plan, the Company’s future operating performance, the Company’s share of new and existing markets, the Company’s revenue and earnings growth rates, the Company’s ability to innovate and commercialize new products, the Company’s expected capital expenditure and the Company’s implementation of cost-reduction initiatives and measures to improve pricing, including the optimization of the Company’s manufacturing capacity. Although the Company believes that these forward-looking statements are based upon reasonable assumptions regarding, among other things, current estimates and forecasts, general economic conditions, its knowledge of its business and key performance indicators that impact the Company, there can be no assurance that these forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change except as required by applicable securities laws. Some of the risks, uncertainties and other factors that could cause actual results to differ materially from those expressed in or implied by the forward-looking statements include, but are not limited to: global economic trends, competition and geopolitical risks, or an escalation of sanctions, tariffs or other trade tensions between the U.S. and other countries, and related impacts on our businesses’ global supply chains and strategies; changes in macroeconomic and market conditions and market volatility, including developments and volatility arising from health crisis events, inflation, interest rates, the value of securities and other financial assets, precious metals, oil, natural gas, raw materials and other commodity prices and exchange rates (particularly between the U.S. dollar and the Japanese yen, South Korean won, Chinese yuan, New Taiwan dollar, Mexican peso and euro), decreases or sudden increases of consumer demand, and the impact of such changes and volatility on our financial position and businesses; the availability of or adverse changes relating to government grants, tax credits or other government incentives; the duration and severity of health crisis events, such as an epidemic or pandemic, and its impact across our businesses on demand, personnel, operations, our global supply chains and stock price; possible disruption in commercial activities or our supply chain due to terrorist activity, cyber-attack, armed conflict, political or financial instability, natural disasters, international trade disputes or major health concerns; loss of intellectual property due to theft, cyber-attack, or disruption to our information technology infrastructure; ability to enforce patents and protect intellectual property and trade secrets; disruption to Corning’s, our suppliers’ and manufacturers’ supply chain, equipment, facilities, IT systems or operations; product demand and industry capacity; competitive products and pricing; availability and costs of critical components, materials, equipment, natural resources and utilities; new product development and commercialization; order activity and demand from major customers; the amount and timing of our cash flows and earnings and other conditions, which may affect our ability to pay our quarterly dividend at the planned level or to repurchase shares at planned levels; the amount and timing of any future dividends; the effects of acquisitions, dispositions and other similar transactions; the effect of regulatory and legal developments; ability to pace capital spending to anticipated levels of customer demand; our ability to increase margins through implementation of operational changes, pricing actions and cost reduction measures; rate of technology change; adverse litigation; product and component performance issues; retention of key personnel; customer ability to maintain profitable operations and obtain financing to fund ongoing operations and manufacturing expansions and pay receivables when due; loss of significant customers; changes in tax laws, regulations and international tax standards; the impacts of audits by taxing authorities; the potential impact of legislation, government regulations, and other government action and investigations; and other risks detailed in Corning’s SEC filings. 3
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© 2026 Corning Incorporated 4 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 our consolidated financial statements to exclude specific items to arrive at measures that are not calculated in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and exclude specific items that are non-recurring, related to foreign exchange volatility, or unrelated to continuing operations. These measures are our core performance measures. Management uses core performance measures, along with GAAP financial measures, to make financial and operational decisions and certain of these measures also form the basis of our compensation program metrics. Management believes that our core performance measures are indicative of our core operating performance and provide investors with greater visibility into how management evaluates our results and trends and makes business decisions. These measures are not, and should not be viewed as a substitute for, GAAP reporting measures. Items that are excluded from certain core performance calculations include: the impact of translating foreign denominated debt, the impact of the translated earnings contracts, acquisition-related costs, certain discrete tax items and other tax-related adjustments, restructuring, impairment and other charges and credits, certain litigation, regulatory and other legal matters, pension mark-to-market adjustments and other items which do not reflect the ongoing operating results of the Company. In addition, because a significant portion of our revenues and expenses are denominated in currencies other than the U.S. dollar, management believes it is important to understand the impact on sales and net income of translating these currencies into U.S. dollars. Therefore, management utilizes constant-currency reporting for the Optical Communications, Display, Specialty Materials, Automotive and Life Sciences segments to exclude the impact from the Japanese yen, South Korean won, Chinese yuan, New Taiwan dollar, Mexican peso and euro, as applicable to the segment. The most significant constant-currency adjustment relates to the Japanese yen exposure within the Display segment. The constant-currency rates established for our core performance measures are long-term management- determined rates, which are closely aligned with our hedging instrument rates. These hedging instruments may include, but are not limited to, foreign exchange forward or option contracts and foreign- denominated debt. For details of the rates used, refer to the footnotes to the “Reconciliation of Non-GAAP Measures” section. We believe that the use of constant-currency reporting allows management to understand our results without the volatility of currency fluctuations, analyze underlying trends in the businesses and establish operational goals and forecasts. With respect to the outlook for future periods, it is not possible to provide reconciliations for these non-GAAP measures because management does not forecast the movement of foreign currencies against the U.S. dollar, or other items that do not reflect ongoing operations, nor does it forecast items that have not yet occurred or are out of management’s control. As a result, management is unable to provide outlook information on a GAAP basis.
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© 2026 Corning Incorporated 5 Q4 GAAP EARNINGS FX Hedge Accounting and Other Charges • Recorded realized gains and unrealized, non-cash mark-to-market gains on currency-hedging contracts for a net after-tax gain of $66M – Translation hedges reduce our economic exposure to currency fluctuations, providing higher certainty for our earnings and cash flow, our growth investments, and our future shareholder distributions – Hedge contracts settled in any given quarter substantially offset changes in earnings and cash flow due to currency fluctuations • Recorded non-cash, after-tax gain of $10M on the translation of foreign denominated debt 5
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Corning Reports Fourth-Quarter and Full-Year 2025 Financial Results Full-Year 2025 Investor Call January 28, 2026
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© 2026 Corning Incorporated 7 CEO PERSPECTIVE Fourth-Quarter 2025 Core Performance $4.41B Q4 Core Sales 14% Increase YoY 20.2% Q4 Core Operating Margin 170 bps Increase YoY $0.72 Q4 Core EPS 26% Increase YoY “Since the launch of Springboard two years ago, we have transformed Corning’s financial profile. We now have a highly profitable launch point for future growth.” - Wendell Weeks, Chairman, CEO, and President © 2026 Corning Incorporated 7
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© 2026 Corning Incorporated 8 CEO PERSPECTIVE Full-Year 2025 Core Performance $16.41B FY Core Sales 13% Increase YoY $1.72B FY Adj. FCF 37% Increase YoY $2.52 FY Core EPS 29% Increase YoY “Excitingly, we have even stronger long-term growth ahead. Today, we are upgrading our original Springboard plan to now add $11 billion in incremental annualized sales by the end of 2028, up from our original $8 billion plan." - Wendell Weeks, Chairman, CEO, and President © 2026 Corning Incorporated 8
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Confidential – Corning (L3) General - Corning (L4) 9 Transformed Our Financial Profile Since Springboard Launch Q4’23 Q4’25 Sales $3.27B $4.41B +35% Operating Margin 16.3% 20.2% +390 bps EPS $0.39 $0.72 +85% ROIC 8.8% 14.2% +540 bps FY’23 FY’25 Adj. FCF $0.88B $1.72B +95% © 2026 Corning Incorporated CEO PERSPECTIVE
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© 2026 Corning Incorporated Even Stronger Growth Ahead Upgrading Springboard Plan • Internal plan now adds $11B in incremental annualized sales by the end of 2028, up from original $8B plan Accelerating growth as we enter 2026 • Internal plan now adds $6.5B in incremental annualized sales by end of 2026, up from previous $6B plan • High-confidence plan now adds $5.75B in increm ental annualized sales by the end of 2026, up from previous $4B plan CEO PERSPECTIVE 1110 © C hristopher Payne / Esto © 2026 Corning Incorporated
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© 2026 Corning Incorporated 1111 Long-Term Partnership with Meta Multiyear, up to $6B agreement Supports Meta’s apps, technologies, and AI ambitions using Corning innovations Ensures advanced data centers are built using U.S. innovation and advanced manufacturing Meta will serve as an anchor customer for the expansion and upgrading of our manufacturing and technology capabilities across our operations in North Carolina CEO PERSPECTIVE Add Press Release Screenshot
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© 2026 Corning Incorporated 1212 Customer Agreements Concluding similar long-term agreements with other major customers to dedicate capacity Providing our customers with secure U.S.- origin production of our most advanced Gen AI high-density innovations Seek to appropriately share the cost and risk of expansions with our customers Our goal is to ensure strong returns for investors 12 CEO PERSPECTIVE © 2026 Corning Incorporated 12
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© 2026 Corning Incorporated 13 Springboard – Original Internal Plan INCREMENTAL ANNUALIZED SALES RUN-RATE VS. Q4’23 Incremental Annualized Sales vs. Q4’23 ($B) CEO PERSPECTIVE
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Confidential – Corning (L3) 14 Springboard – Original Internal Plan INCREMENTAL ANNUALIZED SALES RUN-RATE VS. Q4’23 $8B Internal Plan Incremental Annualized Sales vs. Q4’23 ($B) © 2026 Corning Incorporated CEO PERSPECTIVE $5B
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© 2026 Corning Incorporated 15 $5B First, we focused on a three-year time period Incremental Annualized Sales vs. Q4’23 ($B) Springboard – Original Internal Plan INCREMENTAL ANNUALIZED SALES RUN-RATE VS. Q4’23 CEO PERSPECTIVE
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© 2026 Corning Incorporated 16 $3B Second, we risk adjusted to our $3B+ High-Confidence Plan Incremental Annualized Sales vs. Q4’23 ($B) Springboard – Original High-Confidence Plan INCREMENTAL ANNUALIZED SALES RUN-RATE VS. Q4’23 CEO PERSPECTIVE
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© 2026 Corning Incorporated 17 $3B Incremental Annualized Sales vs. Q4’23 ($B) Springboard – Original Plan INCREMENTAL ANNUALIZED SALES RUN-RATE VS. Q4’23 CEO PERSPECTIVE $5B $3B Internal Plan High-Confidence Plan
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18 Incremental Annualized Sales vs. Q4’23 ($B) INCREMENTAL ANNUALIZED SALES RUN-RATE VS. Q4’23 $4B High-Confidence Plan CEO PERSPECTIVE Springboard – March 2025 Upgrade © 2026 Corning Incorporated $6B Internal Plan
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Confidential – Corning (L3) General - Corning (L4) 19 Springboard – Achieved High-Confidence Plan a Year Early Incremental Annualized Sales vs. Q4’23 ($B) $6B Internal Plan $4B High-Confidence Plan CEO PERSPECTIVE © 2026 Corning Incorporated INCREMENTAL ANNUALIZED SALES RUN-RATE VS. Q4’23
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Confidential – Corning (L3) General - Corning (L4) 20 Operating Margin Target: 20% by End of 2026 20.0% © 2026 Corning Incorporated CEO PERSPECTIVE
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Confidential – Corning (L3) General - Corning (L4) 21 Delivered Operating Margin Target of 20% in Q4 2025 20.2% Achieved 20% OM target a year early © 2026 Corning Incorporated CEO PERSPECTIVE
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Confidential – Corning (L3) General - Corning (L4) 22 Transformed Our Financial Profile Since Springboard Launch Q4’23 Q4’25 Sales $3.27B $4.41B +35% Operating Margin 16.3% 20.2% +390 bps EPS $0.39 $0.72 +85% ROIC 8.8% 14.2% +540 bps FY’23 FY’25 Adj. FCF $0.88B $1.72B +95% © 2026 Corning Incorporated CEO PERSPECTIVE
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Confidential – Corning (L3) General - Corning (L4) 23 Springboard – Original Internal Plan Incremental Annualized Sales vs. Q4’23 ($B) INCREMENTAL ANNUALIZED SALES RUN-RATE VS. Q4’23 $8B Internal Plan CEO PERSPECTIVE © 2026 Corning Incorporated
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Confidential – Corning (L3) General - Corning (L4) 24 Springboard – Upgraded Internal Plan Incremental Annualized Sales vs. Q4’23 ($B) INCREMENTAL ANNUALIZED SALES RUN-RATE VS. Q4’23 $11B Internal Plan $8B Internal Plan CEO PERSPECTIVE © 2026 Corning Incorporated $4.6B Double-Digit CAGR
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Confidential – Corning (L3) General - Corning (L4) 25 Springboard – Internal and High-Confidence Plan © 2026 Corning Incorporated INCREMENTAL ANNUALIZED SALES RUN-RATE VS. Q4’23 CEO PERSPECTIVE Incremental Annualized Sales vs. Q4’23 ($B) $6B Internal Plan $4B High-Confidence Plan
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Confidential – Corning (L3) General - Corning (L4) 26 Springboard – Upgraded Internal and High-Confidence Plan Incremental Annualized Sales vs. Q4’23 ($B) INCREMENTAL ANNUALIZED SALES RUN-RATE VS. Q4’23 $5.75B High-Confidence Plan $6.5B Internal Plan CEO PERSPECTIVE © 2026 Corning Incorporated
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© 2026 Corning Incorporated 27 Springboard has been a tremendous success Transformed the financial profile of Corning Established a new base for highly profitable growth Even stronger growth ahead, with significantly higher returns CEO Summary © 2026 Corning Incorporated 27 CEO PERSPECTIVE
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© 2026 Corning Incorporated 28 CFO PERSPECTIVE Fourth-Quarter 2025 Core Performance $4.41B Q4 Core Sales 14% Increase YoY 20.2% Q4 Core Operating Margin 170 bps Increase YoY $0.72 Q4 Core EPS 26% Increase YoY “In the fourth quarter, we delivered outstanding results, that not only capped off a record year - but also illustrated the tremendous success of our Springboard plan to date.” - Ed Schlesinger, EVP and CFO © 2026 Corning Incorporated 28
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© 2026 Corning Incorporated 29 CFO PERSPECTIVE Full-Year 2025 Core Performance $16.41B FY Core Sales 13% Increase YoY 19.3% FY Core Operating Margin 180 bps Increase YoY $2.52 FY Core EPS 29% Increase YoY “In 2025, we delivered double-digit core sales growth, with core EPS growing twice as fast as sales and adjusted free cash flow growing three times as fast. We significantly enhanced our financial profile and positioned the company to generate even more profit and cash going forward on our upgraded Springboard growth plan.” - Ed Schlesinger, EVP and CFO © 2026 Corning Incorporated 29
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© 2026 Corning Incorporated 30 SEGMENT RECAP Optical Communications Enterprise Network FY sales up 61% driven by the outstanding adoption of our new Gen AI products Carrier Network FY sales up 15% driven by datacenter interconnect (DCI) sales Delivered net income margin of 18% in Q4 $6.27B FY Net Sales Up 35% YoY $1.05B FY Net Income Up 71% YoY 30 © 2026 Corning Incorporated
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© 2026 Corning Incorporated 31 Display In Q1, expect the glass market and our volume to be down mid-single digits sequentially Successfully implemented double-digit price increases in second half of 2024 to ensure we can maintain stable USD net income in weaker Yen environment Hedged our Yen exposure for 2026, with hedges in place beyond 2026 through 2030 Continue to expect to deliver annual net income of $900M-$950M with net income margin of ~25% $993M FY Net Income Ahead of Target 31 SEGMENT RECAP © 2026 Corning Incorporated
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© 2026 Corning Incorporated 32 Specialty Materials Results were driven by demand for premium products, with industry-leading flagship devices featuring our latest cover materials Expanded partnership with Apple creates a larger, longer-term growth driver Continue to expect long-term growth through our "More Corning" approach $2.21B FY Net Sales Up 10% YoY $367M FY Net Income Up 41% YoY 32 SEGMENT RECAP © 2026 Corning Incorporated
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© 2026 Corning Incorporated 33 Automotive Q4 and FY sales were impacted by a weaker heavy-duty diesel market in NA and EU For 2026, industry analysts forecast light-duty vehicle production to be flat-to-down slightly and for the heavy-duty market to remain flat Remain focused on executing our "More Corning" content approach in Automotive $1.79B FY Net Sales Down 3% YoY $278M FY Net Income Up 7% YoY 33 SEGMENT RECAP © 2026 Corning Incorporated
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© 2026 Corning Incorporated 34 Life Sciences $972M FY Net Sales Down 1% YoY $61M FY Net Income Down 3% YoY 34 SEGMENT RECAP © 2026 Corning Incorporated New opportunities for innovation and product differentiation in advanced 3D cell culture and cell therapy
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© 2026 Corning Incorporated 35 Hemlock and Emerging Growth Businesses Q4 sales up 62% YoY driven by growth in polysilicon and module sales for solar industry Ramping capacity to make additional polysilicon, wafers, and modules for Solar Plan to build solar business into $2.5B revenue stream by 2028 with profitability levels at or above the Corning average 35 SEGMENT RECAP © 2026 Corning Incorporated
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© 2026 Corning Incorporated 36 CFO PERSPECTIVE Outlook $4.2B - $4.3B Q1 Core Sales $0.66 - $0.70 Q1 Core EPS Factors Considered in Outlook • ~$0.03 - $0.05 EPS impact from ramp costs in Solar in Q1 • FY 2026 capital expenditures of ~$1.7B, a few hundred million dollars above depreciation. Expect to generate significantly more free cash flow year over year. © 2026 Corning Incorporated 36
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© 2026 Corning Incorporated 37 Springboard Retrospective and Upgrade © 2026 Corning Incorporated 37 From Q4 2023 to Q4 2025: • Expanded operating margin by 390 basis points • Grew EPS 85% • Expanded ROIC by 540 basis points • Generated strong adjusted free cash flow Springboard Upgrade(1): • Internal plan to now add $11B by end of 2028 • Internal plan to now add $6.5B by end of 2026 • High-confidence plan to now add $5.75B by the end of 2026 Enhanced financial profile results in much more cash generation (1)Incremental annualized sales vs. Q4'23 starting point CFO PERSPECTIVE
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© 2026 Corning Incorporated 38 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 track record © 2026 Corning Incorporated 38
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© 2026 Corning Incorporated 39 CFO PERSPECTIVE CFO Summary Outstanding Performance Strong 2025 results with continuing momentum in Q1 Transformed Financial Profile Expect to grow on higher profitability base Even Larger Growth Opportunity Upgraded internal Springboard plan leads to a $24B annualized sales run rate by the end of 2028 Generate significantly more cash going forward Creating value for shareholders © 2026 Corning Incorporated 39
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© 2026 Corning Incorporated 40 Q&A Session
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© 2026 Corning Incorporated 41 41 Corning’s 2026 Investor Outreach Plans February 27– Susquehanna Fifteenth Annual Technology Conference March 3 – Morgan Stanley Technology, Media & Telecom Conference Management visits to investor offices in select cities © 2026 Corning Incorporated
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© 2026 Corning Incorporated 42 Appendix
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© 2026 Corning Incorporated 43 2026 Supplemental Corporate Metrics (as of January 28, 2026)(1)(2) Q1 2026 • Core Sales: $4.2B - $4.3B • Operating expenses: ~$750M • Other income/expense: ($90M - $100M) • Non-controlling interest: (~$40M) • Core EPS: $0.66 - $0.70 • Hemlock and Emerging Growth Sales: $400M - $450M Full-Year 2026 • Hemlock and Emerging Growth Sales: $2.1B - $2.3B • Operating expenses: ~$3.4B • Other income/expense: (~$400M) • Non-controlling interest: (~$180M) • Tax rate: ~19.0% • Capital expenditures: ~$1.7B (1) Corning does not forecast the movement of foreign currencies against the U.S. dollar, or other items that do not reflect ongoing operations. As a result, the company is unable to provide guidance on a GAAP basis. (2) Core performance measures are non-GAAP measures. Definitions and reconciliations are provided on our website. 43
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© 2026 Corning Incorporated 44 Q4 2025 Core Performance Core performance measures are non-GAAP measures. Definitions and reconciliations are provided on our website. 44 $ in millions, except EPS Q4 2025 Q3 2025 Q4 2024 Core Net Sales $4,412 $4,272 $3,874 Core Gross Margin $1,682 $1,664 $1,494 Gross Margin % 38.1% 39.0% 38.6% Core SG&A $507 $550 $501 % of Sales 11.5% 12.9% 12.9% Core RD&E $284 $276 $276 % of Sales 6.4% 6.5% 7.1% Core Operating Income $891 $838 $717 Operating Margin % 20.2% 19.6% 18.5% Core Gross Equity Earnings $8 $3 $11 Core Net Profit Before Taxes $819 $779 $660 Core Net Income attributable to Corning Incorporated $624 $585 $497 Core EPS 0.72 0.67 0.57 Weighted-Average Shares Outstanding 868 868 866
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© 2026 Corning Incorporated 45 Q4 2025 Operating Performance by Segment Core performance measures are non-GAAP measures. Definitions and reconciliations are provided on our website. 45 Segment Net Sales $ in millions Q4 2025 Q3 2025 % change Q4 2024 % change Optical Communications $1,701 $1,652 3% $1,368 24% Carrier Network $811 $821 (1%) $682 19% Enterprise Network $890 $831 7% $686 30% Display $955 $939 2% $971 (2%) Specialty Materials $544 $621 (12%) $515 6% Automotive $440 $454 (3%) $446 (1%) Auto, Glass and Other $323 $327 (1%) $325 (1%) Diesel $117 $127 (8%) $121 (3%) Life Sciences $246 $242 2% $250 (2%) Hemlock and Emerging Growth Businesses $526 $364 45% $324 62% Segment Net Sales and Hemlock and Emerging Growth Businesses $4,412 $4,272 3% $3,874 14% Segment Net Income $ in millions Q4 2025 Q3 2025 % change Q4 2024 % change Optical Communications $305 $295 3% $194 57% Display $257 $250 3% $262 (2%) Specialty Materials $99 $113 (12%) $81 22% Automotive $63 $68 (7%) $61 3% Life Sciences $14 $16 (13%) $18 (22%) Hemlock and Emerging Growth Businesses $1 $(1) * $10 (90%) Segment Net Income and Hemlock and Emerging Growth Businesses $739 $741 —% $626 18% *Not Meaningful As of January 1, 2025, the Company moved its Automotive Glass Solutions business out of Hemlock and Emerging Growth Businesses and began managing together with its Environmental Technologies business, forming the Automotive segment. The comparative segment information has been recast to conform to the changes in our segment reporting.
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© 2026 Corning Incorporated 46 Year-to-Date Core Performance Core performance measures are non-GAAP measures. Definitions and reconciliations are provided on our website. 46 $ in millions, except EPS YTD Q4 2025 YTD Q4 2024 Core Net Sales $16,408 $14,469 Core Gross Margin $6,293 $5,523 Gross Margin % 38.4% 38.2% Core SG&A $2,028 $1,915 % of Sales 12.4% 13.2% Core RD&E $1,105 $1,078 % of Sales 6.7% 7.5% Core Operating Income $3,160 $2,530 Operating Margin % 19.3% 17.5% Core Gross Equity Earnings $16 $40 Core Net Profit Before Taxes $2,903 $2,246 Core Net Income attributable to Corning Incorporated $2,199 $1,699 Core EPS 2.52 1.96 Weighted-Average Shares Outstanding 871 869
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© 2026 Corning Incorporated 47 Year-to-Date Operating Performance by Segment Core performance measures are non-GAAP measures. Definitions and reconciliations are provided on our website. 47 Segment Net Sales $ in millions YTD Q4 2025 YTD Q4 2024 % change Optical Communications $6,274 $4,657 35% Carrier Network $3,079 $2,678 15% Enterprise Network $3,195 $1,979 61% Display $3,697 $3,872 (5%) Specialty Materials $2,211 $2,018 10% Automotive $1,794 $1,846 (3%) Auto, Glass and Other $1,266 $1,279 (1%) Diesel $528 $567 (7%) Life Sciences $972 $979 (1%) Hemlock and Emerging Growth Businesses $1,460 $1,097 33% Segment Net Sales and Hemlock and Emerging Growth Businesses $16,408 $14,469 13% Segment Net Income $ in millions YTD Q4 2025 YTD Q4 2024 % change Optical Communications $1,048 $612 71% Display $993 $1,006 (1%) Specialty Materials $367 $260 41% Automotive $278 $261 7% Life Sciences $61 $63 (3%) Hemlock and Emerging Growth Businesses $(26) $42 * Segment Net Income and Hemlock and Emerging Growth Businesses $2,721 $2,244 21% *Not Meaningful As of January 1, 2025, the Company moved its Automotive Glass Solutions business out of Hemlock and Emerging Growth Businesses and began managing together with its Environmental Technologies business, forming the Automotive segment. The comparative segment information has been recast to conform to the changes in our segment reporting.
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© 2026 Corning Incorporated 48 Solar and Semiconductor Core performance measures are non-GAAP measures. Definitions and reconciliations are provided on our website. 48 $ in millions Q1 2024 Q2 2024 Q3 2024 Q4 2024 FY 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 YTD 2025 Net Sales $ 216 $ 199 $ 194 $ 256 $ 865 $ 206 $ 231 $ 319 $ 475 $ 1,231 Results include polycrystalline silicon, solar wafers and modules.
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© 2026 Corning Incorporated 4949 New Automotive Reporting Segment 2024 – Previous Environmental Technologies $1,098M Automotive and Other $567M Diesel $1,665M Total Environmental Technologies Hemlock and Emerging Growth Businesses $865M Polycrystalline Silicon $181M Automotive Glass Solutions $232M Other $1,278M Total Hemlock & Emerging Growth Businesses 2024 – New Automotive $1,279M Auto, Glass and Other $567M Diesel $1,846M Total Automotive Hemlock and Emerging Growth Businesses $865M Polycrystalline Silicon $232M Other $1,097M Total Hemlock and Emerging Growth Businesses
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© 2026 Corning Incorporated 50 Adjusted Free Cash Flow Reconciliation Core performance measures are non-GAAP measures. Definitions and reconciliations are provided on our website. 50 $ in millions Q4 2025 Q4 2024 YTD 2025 YTD 2024 Cash flows from operating activities $1,052 $623 $2,695 $1,939 Realized gains on translated earnings contracts and other $112 $40 $304 $279 Adjusted cash flows from operating activities $1,164 $663 $2,999 $2,218 Less: Capital expenditures $432 $254 $1,282 $965 Adjusted free cash flow $732 $409 $1,717 $1,253
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© 2026 Corning Incorporated 51 Reconciliation of Non-GAAP Measures Core performance measures are non-GAAP measures. Definitions and reconciliations are provided on our website. 51 Q4 2025 Net sales Gross margin Gross margin % SG&A RD&E Operating income Operating margin % Equity earnings Income before income taxes Net income attributable to Corning Incorporated Tax Rate (a) Per Share As reported - GAAP $4,215 $1,495 35.5% $512 $284 $672 15.9% $4 $678 $540 13.4% $0.62 Constant-currency adjustment 197 168 3 165 4 169 122 0.14 Translation gain on foreign denominated debt, net (14) (10) (0.01) Translated earnings contract gain, net (87) (66) (0.08) Acquisition-related costs 14 13 15 10 0.01 Discrete tax items and other tax-related adjustments (22) (0.03) Restructuring, impairment and other charges and credits 18 (12) 30 39 34 0.04 Litigation, regulatory and other legal matters (6) 6 6 4 0.00 Pension mark-to-market adjustment 1 (4) 5 6 5 0.01 Loss on investments 7 7 0.01 Core performance measures $4,412 $1,682 38.1% $507 $284 $891 20.2% $8 $819 $624 18.1% $0.72 (a) The calculation of the effective tax rate for GAAP and Core excludes net income attributable to non-controlling interest of approximately $47 million and $48 million, respectively. Q4 2025 YTD Net sales Gross margin Gross margin % SG&A RD&E Operating income Operating margin % Equity (losses) earnings Income before income taxes Net income attributable to Corning Incorporated Tax Rate (a) Per Share As reported - GAAP $15,629 $5,621 36.0% $2,122 $1,110 $2,279 14.6% $(7) $2,052 $1,596 15.1% $1.83 Constant-currency adjustment 779 663 7 1 655 11 665 526 0.60 Translation loss on foreign denominated debt, net 52 40 0.05 Translated earnings contract gain, net (150) (114) (0.13) Acquisition-related costs 15 95 104 75 0.09 Discrete tax items and other tax-related adjustments (78) (0.09) Restructuring, impairment and other charges and credits 3 (29) 32 49 42 0.05 Litigation, regulatory and other legal matters (63) 63 63 59 0.07 Pension mark-to-market adjustment 1 (24) (6) 31 33 26 0.03 Loss on investment 7 7 0.01 Loss on sale of assets 5 5 5 4 0.00 Loss on sale of business 11 7 0.01 Equity in losses of affiliated companies 12 12 9 0.01 Core performance measures $16,408 $6,293 38.4% $2,028 $1,105 $3,160 19.3% $16 $2,903 $2,199 19.1% $2.52 (a) The calculation of the effective tax rate for GAAP and Core excludes net income attributable to non-controlling interest of approximately $146 million and $150 million, respectively.
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© 2026 Corning Incorporated 52 At Corning Return on Invested Capital (ROIC) is calculated based on the Core performance. We define ROIC as follows: Return on Invested Capital Numerator = Return (Operating Income Tax Adjusted) Operating Income + Equity in earnings of affiliated companies – Tax = Operating Income Tax Adjusted Denominator = Invested Capital Equity + Long and Short term Debt = Invested Capital Operating Income Tax Adjusted (Return) Equity+Debt (Invested Capital) ROIC = 52
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© 2026 Corning Incorporated 53 Q4 2025 and 2024 Return on Invested Capital (ROIC) 2025 2024 GAAP GAAP to Core Adjustments Core GAAP GAAP to Core Adjustments Core Operating income $672 $219 $891 $393 $324 $717 Equity in earnings of affiliated companies $4 $4 $8 $8 $3 $11 Operating income before interest and taxes $676 $223 $899 $401 $327 $728 Tax Rate 18.1% 20.1% -Tax $163 146 Operating Income - Tax Adjusted $736 $582 Equity $12,307 $11,070 +Debt $8,434 $7,211 Invested Capital (IC) $20,741 $18,281 Return (Q4 Operating Income - Tax Adjusted x4) $2,944 $2,328 Invested Capital $20,741 $18,281 Core ROIC 14.2% 12.7% 53
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© 2026 Corning Incorporated 54 Q4 2025 and 2024 GAAP to Core Reconciliation Core performance measures are non-GAAP measures. Definitions and reconciliations are provided on our website. Q4 2025 Net sales Gross margin Gross margin % SG&A RD&E Operating income Operating margin % Equity earnings Income before income taxes Net income attributable to Corning Incorporated Tax Rate (a) Per Share As reported - GAAP $4,215 $1,495 35.5% $512 $284 $672 15.9% $4 $678 $540 13.4% $0.62 Constant-currency adjustment 197 168 3 165 4 169 122 0.14 Translation gain on foreign denominated debt, net (14) (10) (0.01) Translated earnings contract gain, net (87) (66) (0.08) Acquisition-related costs 14 13 15 10 0.01 Discrete tax items and other tax-related adjustments (22) (0.03) Restructuring, impairment and other charges and credits 18 (12) 30 39 34 0.04 Litigation, regulatory and other legal matters (6) 6 6 4 0.00 Pension mark-to-market adjustment 1 (4) 5 6 5 0.01 Loss on investments 7 7 0.01 Core performance measures $4,412 $1,682 38.1% $507 $284 $891 20.2% $8 $819 $624 18.1% $0.72 (a) The calculation of the effective tax rate for GAAP and Core excludes net income attributable to non-controlling interest of approximately $47 million and $48 million, respectively. Q4 2024 Net sales Gross margin Gross margin % SG&A RD&E Operating income Operating margin % Equity earnings Income before income taxes Net income attributable to Corning Incorporated Tax Rate (a) Per Share As reported - GAAP $3,501 $1,197 34.2% $499 $275 $393 11.2% $8 $437 $310 22.2% $0.36 Constant-currency adjustment 331 240 4 0 236 3 238 169 $ 0.20 Translation gain on foreign denominated debt, net (76) (59) (0.07) Translated earnings contract gain, net (174) (134) (0.15) Acquisition-related costs 30 32 23 0.03 Discrete tax items and other tax-related adjustments 16 0.02 Restructuring, impairment and other charges and credits 42 43 (2) 45 144 126 0.15 Litigation, regulatory and other legal matters (1) 1 1 1 0.00 Pension mark-to-market adjustment 1 1 (2) 9 6 0.01 Loss on investments 4 4 0.00 Loss on sale of assets 14 14 14 11 0.01 Loss on sale of business 31 24 0.03 Core performance measures $3,874 $1,494 38.6% $501 $276 $717 18.5% $11 $660 $497 20.1% $0.57 (a) The calculation of the effective tax rate for GAAP and Core excludes net income attributable to non-controlling interest of approximately $30 million and $31 million, respectively. 54
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© 2026 Corning Incorporated 55 YTD 2025 and 2024 Return on Invested Capital (ROIC) 2025 2024 GAAP GAAP to Core Adjustments Core GAAP GAAP to Core Adjustments Core Operating income $2,279 $881 $3,160 $1,135 $1,395 $2,530 Equity in (losses) earnings of affiliated companies $(7) $23 $16 $26 $14 $40 Operating income before interest and taxes $2,272 $904 $3,176 $1,161 $1,409 $2,570 Tax Rate 19.1% 20.3% -Tax $607 522 Operating Income - Tax Adjusted $2,569 $2,048 Equity $12,307 $11,070 +Debt $8,434 $7,211 Invested Capital (IC) $20,741 $18,281 Return (FY Operating Income - Tax Adjusted) $2,569 $2,048 Invested Capital $20,741 $18,281 Core ROIC 12.4% 11.2% 55
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© 2026 Corning Incorporated 56 YTD 2025 and 2024 GAAP to Core Reconciliation Core performance measures are non-GAAP measures. Definitions and reconciliations are provided on our website. YTD 2025 Net sales Gross margin Gross margin % SG&A RD&E Operating income Operating margin % Equity (losses) earnings Income before income taxes Net income attributable to Corning Incorporated Tax Rate (a) Per Share As reported - GAAP $15,629 $5,621 36.0% $2,122 $1,110 $2,279 14.6% $(7) $2,052 $1,596 15.1% $1.83 Constant-currency adjustment 779 663 7 1 655 11 665 526 0.60 Translation loss on foreign denominated debt, net 52 40 0.05 Translated earnings contract gain, net (150) (114) (0.13) Acquisition-related costs 15 95 104 75 0.09 Discrete tax items and other tax-related adjustments (78) (0.09) Restructuring, impairment and other charges and credits 3 (29) 32 49 42 0.05 Litigation, regulatory and other legal matters (63) 63 63 59 0.07 Pension mark-to-market adjustment 1 (24) (6) 31 33 26 0.03 Loss on investments 7 7 0.01 Loss on sale of assets 5 5 5 4 0.00 Loss on sale of business 11 7 0.01 Equity in losses of affiliated companies 12 12 9 0.01 Core performance measures $16,408 $6,293 38.4% $2,028 $1,105 $3,160 19.3% $16 $2,903 $2,199 19.1% $2.52 (a) The calculation of the effective tax rate for GAAP and Core excludes net income attributable to non-controlling interest of approximately $146 million and $150 million, respectively. YTD 2024 Net sales Gross margin Gross margin % SG&A RD&E Operating income Operating margin % Equity earnings Income before income taxes Net income attributable to Corning Incorporated Tax Rate (a) Per Share As reported - GAAP $13,118 $4,276 32.6% $1,931 $1,089 $1,135 8.7% $26 $813 $506 27.2% $0.58 Constant-currency adjustment 1,309 989 14 1 974 14 989 773 $ 0.89 Translation gain on foreign denominated debt, net (104) (80) (0.09) Translated earnings contract gain, net (83) (64) (0.07) Acquisition-related costs 1 (1) 121 128 92 0.11 Discrete tax items and other tax-related adjustments 21 0.02 Restructuring, impairment and other charges and credits 42 211 (20) (7) 238 407 374 0.43 Litigation, regulatory and other legal matters 20 8 12 12 9 0.01 Pension mark-to-market adjustment (19) (4) 23 3 2 0.00 Loss on investments 23 22 0.03 Loss on sale of assets 27 27 27 20 0.02 Loss on sale of business 31 24 0.03 Core performance measures $14,469 $5,523 38.2% $1,915 $1,078 $2,530 17.5% $40 $2,246 $1,699 20.3% $1.96 (a) The calculation of the effective tax rate for GAAP and Core excludes net income attributable to non-controlling interest of approximately $86 million and $92 million, respectively. 56
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© 2026 Corning Incorporated 57 Q4 2025 and 2024 Income Statement Consolidated Statements of Income Corning Incorporated and Subsidiary Companies (Unaudited; in millions, except per share amounts) Three months ended December 31, Year ended December 31, 2025 2024 2025 2024 Net sales $ 4,215 $ 3,501 $ 15,629 $ 13,118 Cost of sales 2,720 2,304 10,008 8,842 Gross margin 1,495 1,197 5,621 4,276 Operating expenses: Selling, general and administrative expenses 512 499 2,122 1,931 Research, development and engineering expenses 284 275 1,110 1,089 Amortization of purchased intangibles 27 30 110 121 Operating income 672 393 2,279 1,135 Interest income 11 13 38 47 Interest expense (93) (79) (336) (329) Translated earnings contract gain, net 87 174 150 83 Other income (expense), net 1 (64) (79) (123) Income before income taxes 678 437 2,052 813 Provision for income taxes (91) (97) (310) (221) Net income 587 340 1,742 592 Net income attributable to non-controlling interest (47) (30) (146) (86) Net income attributable to Corning Incorporated $ 540 $ 310 $ 1,596 $ 506 Earnings per common share available to common Basic $ 0.63 $ 0.36 $ 1.87 $ 0.59 Diluted $ 0.62 $ 0.36 $ 1.83 $ 0.58 57