Slides
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Corning Reports Third-Quarter 2026 Financial Results Third-Quarter 2026 Investor Call October 27, 2026
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© 2026 Corning Incorporated 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, projected financial and operating performance, anticipated sales opportunities, long-term growth strategy, expected capital deployment, innovation and commercialization plans, and anticipated impacts of customer agreements. 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, Mexican peso, Chinese yuan, South Korean won, euro and New Taiwan dollar), 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; our solar business development, including manufacturing facility construction, ramp, and operations, and the achievement of solar revenue and profitability targets; 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 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 measures, to evaluate operating performance, make financial and operational decisions, and allocate resources. Management believes that core performance measures, when considered together with the Company’s GAAP results, provide investors with useful supplemental information by facilitating a functional view of operating results and providing additional insight into factors and trends affecting the Company’s performance. Specifically, in managing the Company and assessing our financial performance, we supplement certain measures included in our consolidated financial statements by excluding specific items and making certain adjustments to arrive at our core performance measures. These measures are intended to supplement, and should not be viewed as a substitute for, the Company’s GAAP financial measures. Items excluded from certain core performance measures include realized and unrealized gains and losses on our undesignated foreign exchange forward or option contracts and cross-currency swaps, which we refer to as our translated earnings contracts, and on the translation of our foreign-denominated debt. Other excluded items include 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 that do not reflect the ongoing operating results of the Company. Prior to April 1, 2026, we included an adjustment to derive our core performance measures that utilized long-term management-determined core rates, which were used in our presentation of the “constant-currency adjustment.” These core rates were applied to all foreign currency exposures for which we were significantly hedged during the applicable period, even though we may have been less than 100% hedged. Effective April 1, 2026, we prospectively replaced constant-currency reporting with a new non-GAAP adjustment, which we refer to as our “adjustment for hedged exposures” as discussed in more detail below. The prior constant- currency adjustment and the current adjustment for hedged exposures are distinct non-GAAP adjustments determined using different methodologies. Because a significant portion of the Company’s revenues and expenses are denominated in currencies other than the U.S. dollar, the Company maintains a foreign currency risk management program whereby it hedges its foreign currency exposure to the Japanese yen, Mexican peso, Chinese yuan, South Korean won, euro and New Taiwan dollar. Management utilizes the adjustment for hedged exposures for the Optical Communications, Glass Innovations and Automotive segments to reflect the Company’s foreign currency risk management program with respect to these currencies, as applicable to each segment. The most significant adjustment relates to the Japanese yen exposure within the Glass Innovations segment. Management believes that this adjustment for hedged exposures is useful for analyzing underlying business trends and establishing operational goals and forecasts by illustrating results aligned with the currency environment established by the Company’s foreign currency risk management program. The adjustment for hedged exposures is calculated by applying our hedge rates (as defined below) to the portion of foreign currency exposure that is hedged by the Company’s hedging instruments during the applicable period. These hedging instruments include our translated earnings contracts and non-derivative instruments such as foreign-denominated debt. The identification of hedged exposures is consistent with the Company’s documented foreign exchange risk management practices. The remaining portion of foreign currency exposure that is not hedged is not adjusted and continues to be reflected at the exchange rates used in the Company’s consolidated GAAP results during the applicable period. The currency rates used in calculating this adjustment for hedged exposures (our “hedge rates”) reflect the weighted average of the contractual exchange rates of the Company’s hedging instruments in place for foreign currency exposure for the applicable period. The realized and unrealized gains or losses from our translated earnings contracts and non-derivative instruments are excluded from our core performance measures in our GAAP to core reconciliation, and we include the adjustment for hedged exposures to reflect the underlying hedge rates related to these hedging instruments. The adjustment for hedged exposures, when applied to net sales, reflects only the impact of foreign currency exchange rate movements on the hedged portion of exposure. Management believes the adjustment for hedged exposures provides investors with useful supplemental information regarding operating performance by reflecting the effect of the Company’s foreign currency risk management program on the portion of exposure actually hedged during the applicable period. 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. 4
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Corning Reports Third-Quarter 2026 Financial Results Third-Quarter 2026 Investor Call October 27, 2026
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© 2026 Corning Incorporated Third-Quarter 2026 Core Performance $5.08B Q3 Core Sales 19% Increase YoY 22.7% Q3 Core Operating Margin 310 bps Increase YoY $0.91 Q3 Core EPS 36% Increase YoY 6 © 2026 Corning Incorporated 6 “We delivered an outstanding third quarter. Year over year, core sales grew 19% to $5.08 billion, and core EPS grew 36% to $0.91. We expanded core gross margin 150 basis points to 40.5%, core operating margin 310 basis points to 22.7%, and core ROIC 330 basis points to 16.7% – with strong adjusted free cash flow of $661 million, while investing more than half a billion in capital expenditures to address demand for our innovations. Our strong results provide excellent proof points of the acceleration of growth outlined in our ‘20-30-40’ Springboard Plan.” - Wendell Weeks, Chairman, CEO, and President CEO PERSPECTIVE
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Springboard – Internal & High-Confidence Plans CEO PERSPECTIVE ANNUALIZED SALES RUN RATE $40B $35B $30B $27B $20B Internal High-Confidence 7© 2026 Corning Incorporated
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Springboard – Internal Plan CEO PERSPECTIVE ANNUALIZED SALES RUN RATE $40B $30B $20B 15% CAGR 19% CAGR 8© 2026 Corning Incorporated
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Springboard – Performance vs. Plan CEO PERSPECTIVE ANNUALIZED SALES RUN RATE $40B $30B $20B Q3’26 $20.3B 9© 2026 Corning Incorporated
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CEO PERSPECTIVE ANNUALIZED SALES RUN RATE $40B $30B $20B Q3’26 $20.3B Q4’26F $21.0B Assumed Q4’26F – $5.250B 10© 2026 Corning Incorporated Springboard – Performance vs. Plan
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General - Corning (L4) © 2025 Corning Incorporated 11 Transformed Our Financial Profile Since Springboard Launch Q4’23 Q4’26F Sales $3.272B $5.250B +60% EPS $0.39 $0.98 +151% © 2026 Corning Incorporated Nearly doubling ROIC and more than tripling full-year free cash flow CEO PERSPECTIVE
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Next Phase of Springboard CEO PERSPECTIVE • Grow EPS significantly faster than sales • Expand ROIC • Deliver robust FCF, even as we continue to invest to capture growth Plan to double sales from $20B to $40B 12© 2026 Corning Incorporated
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General - Corning (L4) © 2026 Corning Incorporated • Many of the critical customer relationships and long-term agreements are in place that underpin our growth outlook • Each relationship is unique, but they have two common characteristics: – A focus on technology and co- innovation to help our customers achieve their vision – We seek to appropriately share risks and rewards as we deliver that vision CEO PERSPECTIVE Deep Customer Partnerships © 2026 Corning Incorporated 13
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CEO Summary Invent Make Serve CEO PERSPECTIVE 14© 2026 Corning Incorporated
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© 2026 Corning Incorporated CFO PERSPECTIVE Third-Quarter 2026 Core Performance $5.08B Q3 Core Sales 19% Increase YoY 22.7% Q3 Core Operating Margin 310 bps Increase YoY $0.91 Q3 Core EPS 36% Increase YoY “We delivered an outstanding third quarter, and our results demonstrate the acceleration of growth outlined in our 20-30-40 Springboard Plan.” - Ed Schlesinger, EVP and CFO © 2026 Corning Incorporated 15
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© 2025 Corning Incorporated SEGMENT RECAP Optical Communications $2.38B Q3 Net Sales Up 44% YoY $532M Q3 Net Income Up 80% YoY 16 © 2026 Corning Incorporated Segment delivered another quarter of record profitability Enterprise grew 84% YoY, With Gen AI product sales growing more than 100% Carrier grew 4% YoY, driven by growth in DCI Long-term customer agreements serve as proof points for our Springboard growth opportunity
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© 2025 Corning Incorporated Glass Innovations Corning outperformed our end markets, driven by execution of our "More Corning" strategy Memory prices significantly impacted markets across TV, handhelds, and notebooks Price adjustments for display glass substrates begin to take effect in Q4 to address weaker Yen environment and rising costs such as in critical materials and energy $1.51B Q3 Net Sales Down 3% YoY $328M Q3 Net Income Down 10% YoY 17 SEGMENT RECAP © 2026 Corning Incorporated
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© 2025 Corning Incorporated Automotive Recovery in the North American Class 8 truck market more than offset the impact from the light- duty vehicle market, which was down 3% YoY Remain focused on executing our "More Corning" content strategy $470M Q3 Net Sales Up 4% YoY $67M Q3 Net Income Down 1% YoY 18 SEGMENT RECAP © 2026 Corning Incorporated
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© 2025 Corning Incorporated Solar $436M Q3 Net Sales Up 37% YoY $(7)M Q3 Net Loss 19 SEGMENT RECAP © 2026 Corning Incorporated Continue to ramp production at our wafer and module facilities. As productivity improves, so will output and profitability. Demand remains strong, market preference for U.S.-made solar products continues to strengthen Recent U.S. trade action under Section 232 improves the overall pricing environment and demand for U.S. solar products Making solid progress building a more than $3B revenue stream
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© 2025 Corning Incorporated Life Sciences and Emerging Growth Businesses $290M Q3 Net Sales Up 1% YoY $(28)M Q3 Net Loss 20 SEGMENT RECAP © 2026 Corning Incorporated Life Sciences business outperformed the end market Net income was down YoY due to investments in emerging growth programs
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© 2026 Corning Incorporated CFO PERSPECTIVE Outlook $5.2B - $5.3B Q4 Core Sales $0.96 - $1.00 Q4 Core EPS © 2026 Corning Incorporated 21 “In the fourth quarter, we expect sales to grow approximately 19% year over year to a range of $5.2B to $5.3B, and EPS to grow approximately 36% year over year to a range of $0.96 to $1.00.” -Ed Schlesinger, EVP and CFO
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Investing for Accelerating Growth Attractive Growth Opportunity Customer Agreements Derisk Investments Share the risk and responsibility of investments with our customers Use multiple mechanisms in our agreements to achieve the appropriate balance, including upfront funding from customers Improving our Financial Profile as we Invest FCF to grow through Springboard timeframe, even as we invest Generated $2.3B of FCF YTD while steadily adding capacity Double the size of the company by the end of 2030, with EPS growing faster than sales Growth underpinned by long- term customer commitments CFO PERSPECTIVE © 2026 Corning Incorporated 22
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© 2026 Corning Incorporated Capital Allocation CFO PERSPECTIVE 23© 2026 Corning Incorporated 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 of returning excess cash to shareholders
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© 2026 Corning Incorporated CFO Summary Built Strong Foundation Delivered significant growth and dramatically enhanced our financial profile Invested in our capabilities, manufacturing, and customer relationships 20-30-40 Springboard Plan Expect to double our sales from $20B to $40B by the end of 2030, grow EPS faster than sales, and improve our financial profile even further FCF to grow, even as we invest CFO PERSPECTIVE 24© 2026 Corning Incorporated
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© 2026 Corning Incorporated Q&A Session
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© 2026 Corning Incorporated Corning’s 2026 Investor Outreach Plans December 1 – UBS Global Technology and AI Conference Management visits to investor offices in select cities 26© 2026 Corning Incorporated
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Appendix
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© 2026 Corning Incorporated 2026 Supplemental Corporate Metrics (as of October 27, 2026)(1)(2) Q4 2026 • Core Sales: $5.2B - $5.3B • Operating expenses: consistent with Q3 2026 • Other income/expense: (~$85M - $95M) • Non-controlling interest: (~$80M - $90M) • Core EPS: $0.96 - $1.00 Full-Year 2026 • Tax rate: ~18.5% • Capital expenditures: ~$2B (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. 28
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© 2026 Corning Incorporated Q3 2026 Core Performance Core performance measures are non-GAAP measures. Definitions and reconciliations are provided on our website. 29 $ in millions, except EPS Q3 2026 Q2 2026 Q3 2025 Core Net Sales $5,081 $4,738 $4,272 Core Gross Margin $2,059 $1,874 $1,664 Gross Margin % 40.5% 39.6% 39.0% Core SG&A $592 $590 $550 % of Sales 11.7% 12.5% 12.9% Core RD&E $315 $295 $276 % of Sales 6.2% 6.2% 6.5% Core Operating Income $1,152 $989 $838 Operating Margin % 22.7% 20.9% 19.6% Core Gross Equity Earnings (Losses) $3 ($3) $3 Core Net Profit Before Taxes $1,057 $898 $779 Core Net Income attributable to Corning Incorporated $795 $680 $585 Core EPS 0.91 0.78 0.67 Weighted-Average Shares Outstanding 871 875 868
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© 2026 Corning Incorporated Q3 2026 Operating Performance by Segment Core performance measures are non-GAAP measures. Definitions and reconciliations are provided on our website. 30 Segment Net Sales $ in millions Q3 2026 Q2 2026 % change Q3 2025 % change Optical Communications $2,379 $2,072 15% $1,652 44% Carrier Network $854 $803 6% $821 4% Enterprise Network $1,525 $1,269 20% $831 84% Glass Innovations $1,506 $1,463 3% $1,560 (3%) Automotive $470 $471 —% $454 4% Auto, Glass and Other $310 $318 (3%) $327 (5%) Diesel $160 $153 5% $127 26% Solar $436 $438 —% $319 37% Life Sciences and Emerging Growth Businesses $290 $294 (1%) $287 1% Segment Net Sales and Life Sciences and Emerging Growth Businesses $5,081 $4,738 7% $4,272 19% Segment Net Income (Loss) $ in millions Q3 2026 Q2 2026 % change Q3 2025 % change Optical Communications $532 $438 21% $295 80% Glass Innovations $328 $354 (7%) $363 (10%) Automotive $67 $82 (18%) $68 (1%) Solar $(7) $(7) —% $30 * Life Sciences and Emerging Growth Businesses $(28) $(21) (33%) ($15) (87%) Segment Net Income (Loss) and Life Sciences and Emerging Growth Businesses $892 $846 5% $741 20% * Not Meaningful Effective in the first quarter of 2026, Corning revised its segment reporting structure to align with its current operating and management structure. As a result, the company created a Glass Innovations segment, combining its former Display and Specialty Materials segments. Corning also created a Solar segment, which includes Hemlock Semiconductor Group and the company’s solar wafer and module manufacturing businesses. Optical Communications and Automotive remain unchanged. All other results will be grouped as Life Sciences and Emerging Growth Businesses. Prior-period results have been recast to conform to the current presentation.
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© 2026 Corning Incorporated Q3 2026 Core Performance Core performance measures are non-GAAP measures. Definitions and reconciliations are provided on our website. 31 $ in millions, except EPS YTD Q3 2026 YTD Q3 2025 Core Net Sales $14,164 $11,996 Core Gross Margin $5,633 $4,611 Gross Margin % 39.8% 38.4% Core SG&A $1,728 $1,521 % of Sales 12.2% 12.7% Core RD&E $888 $821 % of Sales 6.3% 6.8% Core Operating Income $3,017 $2,269 Operating Margin % 21.3% 18.9% Core Gross Equity Earnings $4 $8 Core Net Profit Before Taxes $2,752 $2,084 Core Net Income attributable to Corning Incorporated $2,087 $1,575 Core EPS 2.40 1.81 Weighted-Average Shares Outstanding 870 870
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© 2026 Corning Incorporated Year-to-Date Operating Performance by Segment Core performance measures are non-GAAP measures. Definitions and reconciliations are provided on our website. 32 Segment Net Sales $ in millions YTD Q3 2026 YTD Q3 2025 % change Optical Communications $6,297 $4,573 38% Carrier Network $2,541 $2,268 12% Enterprise Network $3,756 $2,305 63% Glass Innovations $4,389 $4,409 —% Automotive $1,378 $1,354 2% Auto, Glass and Other $929 $943 (1%) Diesel $449 $411 9% Solar $1,244 $756 65% Life Sciences and Emerging Growth Businesses $856 $904 (5%) Segment Net Sales and Life Sciences and Emerging Growth Businesses $14,164 $11,996 18% Segment Net Income (Loss) $ in millions YTD Q3 2026 YTD Q3 2025 % change Optical Communications $1,357 $743 83% Glass Innovations $1,006 $1,004 —% Automotive $219 $215 2% Solar $(7) $59 * Life Sciences and Emerging Growth Businesses ($73) ($39) (87%) Segment Net Income (Loss) and Life Sciences and Emerging Growth Businesses $2,502 $1,982 26% * Not Meaningful Effective in the first quarter of 2026, Corning revised its segment reporting structure to align with its current operating and management structure. As a result, the company created a Glass Innovations segment, combining its former Display and Specialty Materials segments. Corning also created a Solar segment, which includes Hemlock Semiconductor Group and the company’s solar wafer and module manufacturing businesses. Optical Communications and Automotive remain unchanged. All other results will be grouped as Life Sciences and Emerging Growth Businesses. Prior-period results have been recast to conform to the current presentation.
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© 2026 Corning Incorporated Adjusted Free Cash Flow Reconciliation Core performance measures are non-GAAP measures. Definitions and reconciliations are provided on our website. 33 $ in millions Q3 2026 Q3 2025 YTD 2026 YTD 2025 Cash flows from operating activities $1,061 $784 $3,140 $1,643 Realized gains on translated earnings contracts and other $145 $85 $423 $192 Adjusted cash flows from operating activities $1,206 $869 $3,563 $1,835 Less: Capital expenditures $545 $334 $1,299 $850 Plus: Proceeds from government incentives $0 $0 $8 $0 Adjusted free cash flow $661 $535 $2,272 $985
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© 2026 Corning Incorporated Reconciliation of Non-GAAP Measures Core performance measures are non-GAAP measures. Definitions and reconciliations are provided on our website. 34 Q3 2026 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 $4,855 $1,810 37.3% $563 $314 $911 18.8% $0 $968 $680 22.9% $0.78 Adjustment for hedged exposures 226 214 1 213 3 216 175 0.20 Translation loss on foreign denominated debt, net 4 4 0.00 Translated earnings contract gain, net (138) (106) (0.12) Acquisition-related costs 25 (3) (1) (1) (0.00) Discrete tax items and other tax-related adjustments 45 0.05 Restructuring, impairment and other charges and credits 35 35 8 (1) (0.00) Pension mark-to-market adjustment 2 1 (3) (3) (3) (0.00) Loss on investments 4 3 0.00 Litigation, regulatory and other legal matters 1 (1) (1) (1) (0.00) Core performance measures $5,081 $2,059 40.5% $592 $315 $1,152 22.7% $3 $1,057 $795 18.5% $0.91 (a) The calculation of the effective tax rate for GAAP and Core excludes net income attributable to non-controlling interest of approximately $66 million and $67 million, respectively. Q3 2026 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 Effective tax rate (a) Per Share As reported - GAAP $13,504 $4,966 36.8% $1,759 $891 $2,248 16.6% ($3) $2,146 $1,610 17.8% $ 1.85 Adjustment for hedged exposures 459 421 2 419 5 424 334 0.38 Constant-currency adjustment 201 177 1 176 2 180 135 0.16 Translation gain on foreign denominated debt, net (1) 0.00 Translated earnings contract gain, net (212) (162) (0.19) Acquisition-related costs 5 63 70 51 0.06 Discrete tax items and other tax-related adjustments (4) (0.00) Restructuring, impairment and other charges and credits 85 (25) 110 123 101 0.12 Pension mark-to-market adjustment (15) (3) 18 18 14 0.02 Loss on investments 23 22 0.03 Litigation, regulatory and other legal matters 1 (1) (1) (1) (0.00) Gain on sale of business (2) (1) (0.00) Gain on sale of assets (16) (16) (16) (12) (0.01) Core performance measures $14,164 $5,633 39.8% $1,728 $888 $3,017 21.3% $4 $2,752 $2,087 18.5% $2.40 (a) The calculation of the effective tax rate for GAAP and Core excludes net income attributable to non-controlling interest of approximately $153 million and $156 million, respectively.
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© 2026 Corning Incorporated 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 = 35
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© 2026 Corning Incorporated Q3 2026 and 2025 Return on Invested Capital (ROIC) 2026 2025 GAAP GAAP to Core Adjustments Core GAAP GAAP to Core Adjustments Core Operating income $911 $241 $1,152 $589 $249 $838 Equity in earnings of affiliated companies $0 $3 $3 $1 $2 $3 Operating income before interest and taxes $911 $244 $1,155 $590 $251 $841 Tax Rate 18.5% 19.5% -Tax $214 $164 Operating Income - Tax Adjusted $941 $677 Equity $14,288 $12,005 +Debt $8,200 $8,219 Invested Capital (IC) $22,488 $20,224 Return (Q3 Operating Income - Tax Adjusted x4) $3,764 $2,708 Invested Capital $22,488 $20,224 Core ROIC 16.7% 13.4% 36
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© 2026 Corning Incorporated Q3 2026 and 2025 GAAP to Core Reconciliation Core performance measures are non-GAAP measures. Definitions and reconciliations are provided on our website. Q3 2026 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 $4,855 $1,810 37.3% $563 $314 $911 18.8% $0 $968 $680 22.9% $0.78 Adjustment for hedged exposures 226 214 1 213 3 216 175 0.20 Translation loss on foreign denominated debt, net 4 4 0.00 Translated earnings contract gain, net (138) (106) (0.12) Acquisition-related costs 25 (3) (1) (1) (0.00) Discrete tax items and other tax-related adjustments 45 0.05 Restructuring, impairment and other charges and credits 35 35 8 (1) (0.00) Pension mark-to-market adjustment 2 1 (3) (3) (3) (0.00) Loss on investments 4 3 0.00 Litigation, regulatory and other legal matters 1 (1) (1) (1) (0.00) Core performance measures $5,081 $2,059 40.5% $592 $315 $1,152 22.7% $3 $1,057 $795 18.5% $0.91 (a) The calculation of the effective tax rate for GAAP and Core excludes net income attributable to non-controlling interest of approximately $66 million and $67 million, respectively. Q3 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 $4,100 $1,520 37.1% $624 $280 $589 14.4% $1 550 430 14.5% $0.50 Constant-currency adjustment 172 156 1 155 2 157 111 0.13 Translation gain on foreign denominated debt, net (4) (4) (0.00) Translated earnings contract gain, net (33) (25) (0.03) Acquisition-related costs 27 30 22 0.03 Discrete tax items and other tax-related adjustments (21) (0.02) Restructuring, impairment and other charges and credits (12) (16) 4 16 12 0.01 Pension mark-to-market adjustment (9) (4) 13 12 9 0.01 Loss on investments 1 1 0.00 Litigation, regulatory and other legal matters (50) 50 50 50 0.06 Core performance measures $4,272 $1,664 39.0% $550 $276 $838 19.6% $3 $779 $585 19.5% $0.67 (a) The calculation of the effective tax rate for GAAP and Core excludes net income attributable to non-controlling interest of approximately $40 million and $41 million, respectively. 37
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© 2026 Corning Incorporated Q3 2026 and 2025 Income Statement Consolidated Statements of Income Corning Incorporated and Subsidiary Companies (Unaudited; in millions, except per share amounts) Three months ended September 30, Nine months ended September 30, 2026 2025 2026 2025 Net sales $ 4,855 $ 4,100 $ 13,504 $ 11,414 Cost of sales 3,045 2,580 8,538 7,288 Gross margin 1,810 1,520 4,966 4,126 Operating expenses: Selling, general and administrative expenses 563 624 1,759 1,610 Research, development and engineering expenses 314 280 891 826 Amortization of purchased intangibles 22 27 68 83 Operating income 911 589 2,248 1,607 Interest income 17 10 38 27 Interest expense (87) (78) (273) (243) Translated earnings contract gain, net 138 33 212 63 Other expense, net (11) (4) (79) (80) Income before income taxes 968 550 2,146 1,374 Provision for income taxes (222) (80) (383) (219) Net income 746 470 1,763 1,155 Net income attributable to non-controlling interest (66) (40) (153) (99) Net income attributable to Corning Incorporated $ 680 $ 430 $ 1,610 $ 1,056 Earnings per common share available to common shareholders: Basic $ 0.79 $ 0.50 $ 1.87 $ 1.24 Diluted $ 0.78 $ 0.50 $ 1.85 $ 1.21 38