O-I Glass (OI) Investor presentation summary

Strategic direction and business transformation

• Focused on transforming competitiveness, increasing economic profit, and growing company value through the Fit To Win initiative and targeted geographic and segment growth.

• Building a higher-value, more premium business portfolio and optimizing the value chain with suppliers and customers.

• Emphasizing privileged customer relationships, global reach with local touch, and leveraging consumer preference for glass packaging.

Financial performance and outlook

• 2026 aEBITDA guidance is $1,125M–$1,225M, with aEPS of $1.00–$1.50 and FCF of $50M–$150M; leverage ratio expected in the mid-3x range.

• 2Q26 sales volumes were softer than expected, but initial signs of improvement appeared in June; full-year outlook remains stable.

• Revised 2026 guidance reflects energy inflation and macroeconomic risks, with management actively monitoring and adjusting as needed.

Operational initiatives and cost management

• Fit To Win program is ahead of schedule, delivering cumulative net benefits and targeting ≥$750M in savings by 2026.

• Organizational effectiveness and network optimization actions, including plant closures and cost transformation, are expected to be completed by mid-2026.

• Energy and procurement initiatives are advancing, with significant mitigation of EU natural gas price exposure.