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THIRD QUARTER 2026 EARNINGS October 27, 2026
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2SAFE 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 Securities Act of 1933, as amended. Forward-looking statements reflect the Company’s current expectations and projections about future events at the time, and thus involve uncertainty and risk. The words “believe,” “expect,” “anticipate,” “will,” “could,” “would,” “should,” “may,” “plan,” “estimate,” “intend,” “predict,” “potential,” “continue,” "target," “commit” and the negatives of these words and other similar expressions generally identify forward-looking statements. It is possible that the Company’s future financial performance may differ from expectations due to a variety of factors including, but not limited to the following: (1) the Company’s ability to achieve expected benefits from cost management, efficiency improvements, and profitability initiatives, such as its Fit to Win initiative, including expected impacts from production curtailments, reduction in force and furnace closures, (2) the Company’s ability to achieve expected benefits from its European recovery plan within the anticipated timeframe, including recovering cost inflation, improving its commercial performance, managing energy cost, securing profitable volume, and improving plant efficiency through Fit to Win and optimizing logistics,(3) the general credit, financial, political, economic, legal and competitive conditions in markets and countries where the Company has operations, including uncertainties related to economic and social conditions, trade policies and disputes, financial market conditions, disruptions in the supply chain, competitive pricing pressures, inflation or deflation, changes in tax rates, changes in laws or policies, legal proceedings involving the Company, war, civil disturbance or acts of terrorism, natural disasters, public health issues and weather, (4) cost and availability of raw materials, labor, energy and transportation (including impacts related to the current conflicts in the Middle East and between Russia and Ukraine and disruptions in supply of raw materials caused by transportation delays), (5) competitive pressures from other glass container producers and alternative forms of packaging or consolidation among competitors and customers, (6) changes in consumer preferences or customer inventory management practices, (7) the continuing consolidation of the Company’s customer base, (8) risks related to the development, deployment and use of artificial intelligence technologies, (9) the Company’s inability to improve glass melting technology in a cost-effective manner and introduce productivity, process and network optimization actions, (10) unanticipated supply chain and operational disruptions, including higher capital spending, (11) seasonality of customer demand, (12) the failure of the Company’s joint venture partners to meet their obligations or commit additional capital to the joint venture, (13) labor shortages, labor cost increases or strikes, (14) the Company’s ability to acquire or divest businesses, acquire and expand plants, integrate operations of acquired businesses and achieve expected benefits from acquisitions, divestitures or expansions, (15) the Company’s ability to generate sufficient future cash flows to ensure the Company’s goodwill is not impaired, (16) any increases in the underfunded status of the Company’s pension plans, (17) any failure or disruption of the Company’s information technology, or those of third parties on which the Company relies, or any cybersecurity or data privacy incidentsaffecting the Company or its third-party service providers, (18) risks related to the Company’s indebtedness or changes in capital availability or cost, including interest rate fluctuations and the ability of the Company to generate cash to service indebtedness and refinance debt on favorable terms, (19) risks associated with operating in foreign countries, (20) foreign currency fluctuations relative to the U.S. dollar, (21) changes in tax laws or global trade policies, (22) the Company’s ability to comply with various environmental legal requirements, (23) risks related to recycling and recycled content laws and regulations, (24) risks related to climate-change and air emissions, including related laws or regulations and increased ESG scrutiny and changing expectations from stakeholders, and the other risk factors discussed in the Company's filings with the Securities and Exchange Commission. It is not possible to foresee or identify all such factors. Any forward-looking statements in this document are based on certain assumptions and analyses made by the Company in light of its experience and perception of historical trends, current conditions, expected future developments, and other factors it believes are appropriate in the circumstances. Forward-looking statements are not a guarantee of future performance, and actual results or developments may differ materially from expectations. While the Company continually reviews trends and uncertainties affecting the Company’s results of operations and financial condition, the Company does not assume any obligation to update or supplement any particular forward-looking statements contained in this document, except where we are expressly required to do so by law. Additionally, certain forward-looking and other statements in this presentation or other locations, such as the Company’s corporate website, regarding ESG matters are informed by various ESG standards and frameworks (which may include standards for the measurement of underlying data) and the interests of various stakeholders. Accordingly, such information may not be, and should not be interpreted as necessarily being “material” under the federal securities laws for SEC reporting purposes, even if the Company uses the word “material” or “materiality” in such discussions. In particular, certain standards and frameworks use definitions of “materiality” in the ESG context that differ from, and are often more expansive than, the definition under U.S. federal securities laws. ESG information is also often reliant on third-party information or methodologies that are subject to evolving expectations and best practices. The Company’s disclosures may change due to revisions in framework requirements, availability of information, changes in its business or applicable governmental policies, or other factors, some of which may be beyond its control.
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3 STABLE TOPLINE • Shipments down ~ 2% but quarterly sequential improvement in 2Q and 3Q AMERICAS STABLE; EUROPE UNDER PRESSURE • Americas segment operating profit down 2% (up 7% YTD) • EU down significantly; Recovery plan underway FIT TO WIN DELIVERING BENEFITS • $50M benefits 3Q26 ($135M YTD) UPDATED 2026 OUTLOOK; EXPECT HIGHER 2027 • $925-950M aEBITDA in 2026 amid energy inflation, soft demand, pace of EU recovery 3Q26 OVERVIEW AMERICAS RESILIENCE PARTIALLY OFFSETS EUROPE NET PRICE PRESSURE; RESET 2026 OUTLOOK 3Q26 PERFORMANCE 1,653 1,623 NET SALES ($M) 329 234 0.48 (0.09) aEBITDA ($M) aEPS 3Q25 3Q26 3Q25 3Q26 3Q25 3Q26
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4 STABLE TOPLINE SALES VOLUME1 TREND (% Yo Y ) 4.4% -2.8% -5.1% -7.4% -8.8% -4.5% -1.9% 1Q 2Q 3Q 4Q 2025A 2026A 2026F QUARTERLY SEQUENTIAL VOLUME IMPROVEMENT 3Q26 SALES VOLUME1 DOWN ~ 2% • AM down ~1.3% including impact of Andean earthquake & US/CAN trade dispute. Strong shipment growth in LATAM largely offset headwinds in North America. • EU down ~3.7%. Demand up in Northern Europe while shipments down in Southern Europe, especially in the wine category POCKETS OF STRENGTH EVIDENT ACROSS PORTFOLIO • Food & NAB sales trends continue to outperform Alcohol • LATAM geographies outperforming market and prior year ANTICIPATE 4Q FLAT/LSD SALES VOLUME GROWTH • Easing PY comps and benefit of new business wins • Estimate FY26 volumes will be down 3-4% vs FY25 FAVORABLE FX MOSTLY OFFSET SLIGHTLY LOWER PRICE AND SALES VOLUME 1 Measured in tons and excludes the impact of divestitures.
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5 2024 2025 2027 3 YEAR 1 ACTUAL ACTUAL 9M ACTUAL FY OUTLOOK TARGET TARGET COMMENTS Reshape SG&A 2 14 98 49 55 30 180 Organization actions substantially complete Initial Network Optimization 11 81 55 75 20 175 All previously announced plant closures complete; Net of 1H26 disruption Decision made to initiate process for potential closure of a production facility in EU TOTAL PHASE A SAVINGS 25 179 104 130 50 355 Total Organizational Effectiveness - 58 - (10) 45 95 Revised 2026 and 2027 for slower pace of recovery in Europe Cost Transformation - 63 31 60 75 200 Procurement initiatives ramping up 2H26 TOTAL PHASE B SAVINGS - 121 31 50 120 295 TOTAL FIT TO WIN SAVINGS 25 300 135 180 170 650 2026 FIT TO WIN DELIVERING T ANGIBLE BENEFITS $50M BENEFITS IN 3Q26, $135M YTD, AND $460M PROGRAM TO -DATE 1 Savings are cumulative compared to 2024 baseline year (excludes 2024 benefits of $25M) 2 SGA is gross of management incentives FIT TO WIN BENEFITS ($M) PHASE A PHASE B Now expect ~ $180M Fit To Win Benefits in 2026 vs. ≥ $200M prior outlook given slower pace of recovery in Europe ~ ≥ ≥
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6 3Q26 COMPANY PERFORMANCE aEPS -2% (Tons) LOWER EARNINGS PRIMARILY REFLECT NET PRICE PRESSURE IN EUROPE AN D HIGHER TAX RATE Note: Appendix provides additional details 0.48 (0.42) (0.05) 0.03 0.00 (0.16) 0.03 (0.09) 3Q25 Net Price Vol/Mix Operating Costs Corp Retained Interest / Tax / Share FX 3Q26 BALANCE SHEET @ 9/30/26: • 4.5x T otal Net Leverage • 1.37x Senior Secured Net Leverage (2.5x covenant) • $1.5B Liquidity
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7 $M 3Q25 Currency Net Price Sales Vol/Mix Operating Cost 3Q26 Net Sales $688 ($7) ($26) ($21) $0 $634 % Change in Price & Sales Volume (KT) -3.8% -3.7% Segment Operating Profit $95 ($3) ($91) ($4) $5 $2 % Margin 13.8% 0.3% Changes in Net Sales and Segment Operating Profit $M 3Q25 Currency Net Price Sales Vol/Mix Operating Cost 3Q26 Net Sales $940 $42 $15 ($27) $0 $970 % Change in Price & Sales Volume (KT) 1.6% -1.3% Segment Operating Profit $140 $10 ($6) ($10) $3 $137 % Margin 14.9% 14.1% Changes in Net Sales and Segment Operating Profit 3Q26 OPERA TING PERFORMANCE SOLID AMERICAS RESULTS; EUROPE DOWN ON PRICE PRESSURE AND ELEVATED ENERGY INFLATION O-I OPERATING PERFORMANCE ($M) AM AND EU PERFORMANCE AMERICAS EUROPE 329 234 235 139 3Q25 3Q26 aEBITDA Segment Operating Profit Note: Appendix provides additional details EU energy and freight inflation was approximately $15 million higher than expectations heading into the quarter.
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8 2026 OUTLOOK AND INITIAL VIEW ON 2027 BUSINESS LEVERS UPDATED 2026 OUTLOOK REFLECTS HEADWINDS; EXPECT HIGHER 2027 PERF ORMANCE 2026 GUIDANCE INITIAL VIEW ON 2027 BUSINESS LEVERS Note: Appendix provides additional details 2027 VS 2026 (▲ FAV) • Price and Mix • Stable sales volumes • Net price (commercial efforts; PAF on contracted business) • Stable sales volumes • ≥ $170M Fit To Win initiative benefits including EU operating recovery • Slightly higher asset maintenance expense given furnace rebuild timing • Fit To Win benefits net of resetting management incentives ($0 in 2026) • Higher interest expense and lower tax rate • Higher aEBITDA • ~ $400M CapEx • Lower restructuring costs • Higher aEBITDA • FCF applied to debt reduction NON-OPER ITEMS ▲ FREE CASH FLOW ▲ LEVERAGE RATIO ▲ BUSINESS DRIVER COMMENTS NET SALES ▲ aEBITDA ▲ PRIOR CURRENT aEBITDA ($M) 1,000 - 1,100 925 - 950 FCF ($M) (50) - (150) ~ (300) Leverage Ratio ≥ 4x 4.5 - 5.0x $M aEBITDA FCF Prior Outlook (midpoint) 1,050 (100) Commercial (including US/CAN Trade Dispute) (45) (45) Higher Energy/Freight Inflation (35) (35) Fit To Win Benefits (20-45) (35) Unfav Working Capital (Inventory) (60) Energy Risk Management (Cash) (25) Current Outlook 925-950 (300) ~ Given evolving commercial, energy, and global trade conditions, among other factors, O-I is no longer maintaining its 2027 targets and plans to provide 2027 guidance on its 2026 year-end earnings call. The change in aEBITDA is approximately 70% in Europe and 30% in Americas
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9 01 WHAT HAPPENED 02 MARKET PRESSURE Softer demand, excess capacity and higher energy / freight costs INTERNAL FACTORS Commercial execution challenges, restructuring complexity and asset events amplified the pressure EARNINGS IMPACT Lower price realization, unrecovered inflation and operating inefficiency reduced profitability 1 COMMERCIAL PERFORMANCE Strengthened commercial execution to support net price improvement COMMERCIAL EFFORTS NET PRICE 2 ENERGY Multi-year margin and risk management approach EXPANDED NG HEDGE 100% 4Q26 | >90% FY272 3 PROFITABLE VOLUME Qualified wins supported by reliable service 4% FUTURE NEW BUSINESS WINS YTD 4 PLANT AND SUPPLY CHAIN EFFICIENCY Priority-plant stabilization and operating discipline Four linked levers address the specific sources of Europe underperformance. WHAT HAPPENED RECOVERY PLAN ~ 100 BPS HIGHER PTP1 3Q26 01 IMPROVE NET PRICE Commercial execution and inflation management HIGHER PLANT EFFICIENCY F2W and other actions to improve PTP1 and reduce operating costs IMPROVE MARGINS Restore European margins over multi-year period MULTI-YEAR GOAL EUROPE PATH TO RECOVERY MULTI -YEAR PLAN SEEKS TO RESTORE EUROPE MARGINS AND PERFORMANCE 1 Pack to Pull (PTP) is a standard glass industry plant efficiency measure 2 Barring extreme market conditions or supply disruptions, this coverage should significantly reduce our exposure to gas -price volatility.
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10 VALUE CREATION ROADMAP FUTURE O-I EP CAPTURE FIT TO WIN: Radically reduce total enterprise costs and optimize entire network and value chain PROFITABLE GROWTH: Leverage more competitive position to drive future profitable growth with winning customers HORIZON 1 (2024+) FIT TO WIN STRATEGIC OPTIONALITY: Grow through geographic expansion, JVs, partnerships and M&A. Seek ways to enhance the value chain, and consistently return capital to shareholders ECONOMIC PROFIT MINDSET HORIZON 2 (2027+) PROFITABLE GROWTH HORIZON 3 (2028+) STRATEGIC OPTIONALITY CURRENT O-I EP CAPTURE • Initiating Horizon 3 evaluation • Right portfolio, Right balance sheet • Redesigned commercial approach • ~ 4% vol. new future business wins • ~ $650M 3-year savings aligned with I-Day • ~ $460M savings to date • Rapidly addressing operating disruption RIGHT STRATEGY TO INCREASE VALUE AND IMPROVE ECONOMIC PROFIT
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11 SUMMARY AND CONCLUSION KEY TAKEAWAYS FROM THIRD QUARTER 2026 SEQUENTIAL VOLUME IMPROVEMENT; 4Q FLAT/LSD GROWTH STRONG YTD PERFORMANCE EUROPE DOWN SIGNIFICANTLY; FOCUSED ON RECOVERY PLAN FIT TO WIN ~ $180 MILLION 2026 NET BENEFITS UPDATED 2026 OUTLOOK; EXPECT HIGHER RESULTS IN 2027 SOLID PERFORMANCE ACROSS THE AMERICAS
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12 APPENDIX
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13SUMMARY FINANCIAL RESULTS: 3Q26 VS 3Q25 $M except EPS and % AMERICAS EUROPE CORP TOTAL AMERICAS EUROPE TOTAL aEPS 3Q25 $ 940 $ 688 $ 25 $1,653 $140 $95 $235 $0.48 % Margin 14.9% 13.8% 14.4% FX 42 (7) - 35 10 (3) 7 0.03 SUBTOTAL $ 982 $681 $25 $1,688 $150 $92 $242 $0.51 % Margin 15.3% 13.5% 14.6% Price / Net price (incl. cost inflation) 15 (26) - (11) (6) (91) (97) (0.42) Volume and mix (27) (21) (6) (54) (10) (4) (14) (0.05) Sales Vol (KT) vs PY -1.3% -3.7% -2.8% Operating costs (excl. cost inflation) - - - - 3 5 8 0.03 Retained corporate costs - - - - - - - - Interest expense, net / NCI - - - - - - - - Change in tax rate - - - - - - - (0.16) Share count - - - - - - - - 3Q26 $ 970 $ 634 $ 19 $1,623 137 2 139 ($0.09) % Margin 14.1% 0.3% 8.7% NET SALES SEGMENT OPERATING PROFIT COST BREAKDOWNNET SALES, SEGMENT OPERA TING PROFIT , AND aEPS RECONCILIA TIONS (142% aETR vs 34% PY) Corp Fav (Unfav) AM EU Total Retained TOTAL Gross Fit To Win 18 27 45 5 50 Disruptions - - - - - Net Fit to Win 18 27 45 5 50 Temporary Curtailments 7 (9) (2) - (2) One Time Items (CO2, insurance, etc.) (6) (2) (8) - (8) Delivery (4) (3) (7) - (7) Other, Net (Maintenance, JV, RM/Energy Mix) (12) (8) (20) (6) (26) Total Costs - $M 3 5 8 (1) 7 Operating Costs
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14SUMMARY FINANCIAL RESULTS: YTD26 VS YTD25 COST BREAKDOWNNET SALES, SEGMENT OPERATING PROFIT , AND aEPS RECONCILIATIONS $M except EPS and % AMERICAS EUROPE CORP TOTAL AMERICAS EUROPE TOTAL aEPS Sep YTD 25 $ 2,756 $ 2,095 $ 75 $4,926 $416 $253 $669 $1.41 % Margin 15.1% 12.1% 13.8% FX 143 72 - 215 27 1 28 0.13 SUBTOTAL $ 2,899 $2,167 $75 $5,141 $443 $254 $697 $1.54 % Margin 15.3% 11.7% 13.8% Price / Net price (incl. cost inflation) 74 (94) - (20) 26 (252) (226) (1.01) Volume and mix (183) (80) (28) (291) (35) (13) (48) (0.21) Sales Vol (KT) vs PY -5.8% -4.1% -5.5% Operating costs (excl. cost inflation) - - - - 10 18 28 0.13 Retained corporate costs - - - - - - - - Interest expense, net / NCI - - - - - - - 0.01 Change in tax rate - - - - - - - (0.41) Share count - - - - - - - - Sep YTD 26 $ 2,790 $ 1,993 $ 47 $4,830 444 7 451 $0.05 % Margin 15.9% 0.4% 9.4% NET SALES SEGMENT OPERATING PROFIT Corp Fav (Unfav) AM EU Total Retained TOTAL Gross Fit To Win 55 81 136 29 165 Disruptions (17) (13) (30) - (30) Net Fit to Win 38 68 106 29 135 Temporary Curtailments (2) (10) (12) - (12) One Time Items (CO2, Insurance, etc) (10) 3 (7) - (7) Delivery (11) (8) (19) - (19) Other, Net (Maintenance, JV, RM/Energy Mix) (5) (35) (40) (32) (72) Total Costs - $M 10 18 28 (3) 25 Operating Costs
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15 APPROXIMATE EPS SENSITIVITY TO 1% CHANGE IN ANNUAL VOLUME (AT ~ 30% ETR) • $0.07/sh for 1% change in sales volume • $0.13/sh for 1% change in production volume • $0.20/sh for 1% change in combined sales and production volume 23-Oct AVG AVG 2026 3Q26 3Q25 EUR 1.12 1.15 1.16 MXN 18.66 17.48 18.61 BRL 4.98 5.15 5.44 COP 3,150 3,215 4,041 2026 KEY GUIDANCE ASSUMPTIONS & SENSITIVITIES FX ASSUMPTIONS VOLUME & FX SENSITIVITY2026 BUSINESS DRIVERS BUSINESS DRIVER 2026 vs 2025 ▲ Fav ▼Unfav 2026 COMMENTS aEBITDA ▼ $925M -$950M Sales Volume ▼ ~ Down 3-4% Net Price ▼ ~ $75M-$125M headwind Energy Reset ▼ ~ $150M as reset fav EU energy contracts expiring Dec '25 Add'l Energy /Freight Inflat ▼ ~ $100M inflation related to Middle East Conflicts FX ▲ ~ $20M-$30M tailwind Interest Expense ► ~ $335M - $350M Adjusted ETR ▼ ~ 100%-130%, up from prior estimate due to lower earnings FCF ▼ ~ ($300M) a EBITDA ▼ $925M-$950M (D&A of ~ $480M) Ca p Ex ▲ ~ $425M Working C apital ▼ ~ $100M+ headwind, higher inventory on soft demand Restructuring ▼ ~ $160M Taxes/Interest ► ~ $120M taxes; ~ $340M interest Other ▼ ~ $70M Incentive, returnable packaging, energy mgmt LEVERAGE RATIO ▼ 4.5 - 5.0 by FYE26 ~ $180M F2W benefit ~ $50M headwind address oper. disruption▲Operating C osts/ Corp Retained & Other
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16NON -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 and use of certain non-GAAP financial measures, including adjusted earnings, adjusted earnings per share, free cash flow, free cash flow percentage, adjusted effective tax rate, net debt, leverage ratio, EBITDA, adjusted EBITDA, adjusted EBITDA margin, economic profit, economic spread, segment operating profit and segment operating profit margin, provide relevant and useful supplemental financial information that is widely used by analysts and investors, as well as by management in assessing both consolidated and business unit performance. These non-GAAP measures are reconciled to the most directly comparable GAAP measures and should be considered supplemental in nature and should not be considered in isolation or be construed as being more important than comparable GAAP measures. Adjusted earnings relates to net earnings (loss) attributable to the company, exclusive of items management considers not representative of ongoing operations and other adjustments because such items are not reflective of the company’s principal business activity, which is glass container production. Adjusted earnings are divided by weighted average shares outstanding (diluted) to derive adjusted earnings per share. Segment operating profit relates to earnings (loss) before interest expense, net, and before income taxes and is also exclusive of items management considers not representative of ongoing operations as well as certain retained corporate costs and other adjustments. Segment operating profit margin is calculated as segment operating profit divided by segment net sales. Adjusted effective tax rate relates to the provision for income taxes, excluding items management considers not representative of ongoing operations and other adjustments, divided by earnings (loss) before income taxes, exclusive of items management considers not representative of ongoing operations and other adjustments. EBITDA refers to net earnings, excluding gains or losses from discontinued operations, interest expense, net, provision for income taxes, depreciation and amortization of intangibles. Adjusted EBITDA refers to EBITDA, exclusive of items management considers not representative of ongoing operations and other adjustments. Net debt refers to total debt less cash. Adjusted EBITDA margin refers to Adjusted EBITDA divided by net sales. Leverage ratio refers to net debt divided by Adjusted EBITDA. Economic profit (EP) refers to net earnings (loss) attributable to the company, excluding interest expense, net and items not considered representative of ongoing operations (excluding interest expense, net), minus the product of the company’s average invested capital and its long term normalized weighted average cost of capital. Economic spread percentage (ES) refers to EP divided by the company’s average invested capital. Management uses adjusted earnings, adjusted earnings per share, segment operating profit, segment operating profit margin, EBITDA, Adjusted EBITDA, Adjusted EBITDA percentage, adjusted effective tax rate, net debt leverage, economic profit and economic spread to evaluate its period-over-period operating performance because it believes these provide useful supplemental measures of the results of operations of its principal business activity by excluding items that are not reflective of such operations. The above non-GAAP financial measures may be useful to investors in evaluating the underlying operating performance of the company’s business as these measures eliminate items that are not reflective of its principal business activity. Further, free cash flow (FCF) relates to cash provided by operating activities less cash payments for property, plant and equipment. Free cash flow percentage relates to free cash flow divided by net sales. Management has historically used free cash flow and free cash flow percentage to evaluate its period-over-period cash generation performance because it believes these have provided useful supplemental measures related to its principal business activity. It should not be inferred that the entire free cash flow amount is available for discretionary expenditures, since the company has mandatory debt service requirements and other non-discretionary expenditures that are not deducted from these measures. Management uses non-GAAP information principally for internal reporting, forecasting, budgeting and calculating compensation payments. The company routinely posts important information on its website – www.o-i.com/investors.
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17RECONCILIATION TO ADJUSTED EARNINGS
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18 (a) Currency effect on net sales and segment operating profit determined by using 2026 foreign currency exchange rates to tra nslate 2025 local currency results. 3Q26 PRICE, SALES VOLUME AND CURRENCY IMPACT ON REPORTABLE SEGMENT SALES 3Q26 PRICE, SALES VOLUME, OPERATING COSTS AND CURRENCY IMPACT ON REPORTABLE SEGMENT OPERATING PROFIT SEGMENT RECONCILIATIONS: 3Q26 VS. 3Q25
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19 (a) Currency effect on net sales and segment operating profit determined by using 2026 foreign currency exchange rates to tra nslate 2025 local currency results. YTD 3Q26 PRICE, SALES VOLUME AND CURRENCY IMPACT ON REPORTABLE SEGMENT SALES YTD 3Q26 PRICE, SALES VOLUME, OPERATING COSTS AND CURRENCY IMPACT ON REPORTABLE SEGMENT OPERATING PROFIT SEGMENT RECONCILIATIONS: YTD 3Q26 VS. YTD 3Q25
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20RECONCILIATION FOR SEGMENT OPERATING PROFIT
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21RECONCILIATION TO ADJUSTED EFFECTIVE TAX RATE The Company is unable to present a quantitative reconciliation of its forward-looking non-GAAP measure, adjusted effective tax rate, for the periods ending after September 30, 2026, to its most directly comparable GAAP financial measure, provision for income taxes divided by earnings (loss) before income taxes, because management cannot reliably predict all of the necessary components of these GAAP financial measures without unreasonable efforts. Earnings (loss) before income taxes includes several significant items, such as restructuring charges, asset impairment charges, and charges for the write-off of finance fees, and the provision for income taxes would include the income tax effect on such items. The decisions and events that typically lead to the recognition of these and other similar items are complex and inherently unpredictable, and the amount recognized for each item can vary significantly. Accordingly,the Company is unable to provide a reconciliation of adjusted effective tax rate to provision for income taxes divided by earnings (loss) before income taxes or address the probable significance of the unavailable information, which could be material to the Company's future financial results.
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22RECONCILIATION TO FREE CASH FLOW The Company is unable to present a quantitative reconciliation of its forward-looking non-GAAP measure, free cash flow,for all periods after 2026 to its most directly comparable U.S. GAAP financial measure, cash provided by operating activities, without unreasonable effort. This is due to potentially high variability, complexity and low visibility, in the relevant future periods, of components of cash provided by operating activities and cash spent on property, plant and equipment, as well as items that would be excluded from cash provided by operating activities. The variability of these excluded items and other components of cash provided by operating activities may have a significant, and potentially unpredictable, impact on the Company's future financial results.
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23RECONCILIATIONS TO ADJUSTED EBITDA AND ADJUSTED EBITDA MARGIN For the periods ending after September 30, 2026, the Company is unable to present a quantitative reconciliation of its forward-looking non-GAAP measures, adjusted EBITDA and adjusted EBITDA margin, to its most directly comparable U.S. GAAP financial measure, net loss attributable to the Company and net loss attributable to the Company divided by net sales, respectively,because management cannot reliably predict all of the necessary components of this U.S. GAAP financial measure without unreasonable efforts. Net loss attributable to the Company includes several significant items, such as restructuring, asset impairment and other charges, charges for the write-off of finance fees, and the income tax effect on such items. The decisions and events that typically lead to the recognition of these and other similar non-GAAP adjustments are inherently unpredictable as to if and when they may occur. The inability to provide a reconciliation is due to that unpredictability and the related difficulties in assessing the potential financial impact of the non-GAAP adjustments. For the same reasons, the Company is unable to address the probable significance of the unavailable information, which could be material to the Company’s future financial results.
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24RECONCILIATIONS TO TOTAL NET LEVERAGE AND TOTAL LIQUIDITY RECONCILIATION TO TOTAL NET LEVERAGE RECONCILIATION TO TOTAL LIQUIDITY
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25RECONCILIATION TO SENIOR SECURED NET LEVERAGE
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26ADDITIONAL RECONCILIATIONS For the years ending after December 31, 2025, the Company is unable to present a quantitative reconciliation of its forward-looking non-GAAP measure, leverage ratio, which is defined as total debt less cash divided by Adjusted EBITDA, to its most directly comparable U.S. GAAP financial measure, Net earnings (loss) attributable to the Company, because management cannot reliably predict all of the necessary components of this U.S. GAAP financial measure without unreasonable efforts. Net earnings includes several significant items, such as restructuring, asset impairment and other charges, charges for the write-off of finance fees, and the income tax effect on such items. The decisions and events that typically lead to the recognition of these and other similar non-GAAP adjustments are inherently unpredictable as to if and when they may occur. The inability to provide a reconciliation is due to that unpredictability and the related difficulties in assessing the potential financial impact of the non-GAAP adjustments. For the same reasons, the Company is unable to address the probable significance of the unavailable information, which could be material to the Company’s future financial results. RECONCILIATION TO LEVERAGE RATIO