O I Glass : 1Q 2023 Capital Markets Presentation

1Q23 CAPITAL MARKETS PRESENTATION

MARCH 2023

SAFE HARBOR COMMENTS

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," 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 general political, economic and competitive conditions in markets and countries where the Company has operations, including uncertainties related to economic and social conditions, disruptions in the supply chain, competitive pricing pressures, inflation or deflation, changes in tax rates and laws, war, civil disturbance or acts of terrorism, natural disasters, and weather, (2) cost and availability of raw materials, labor, energy and transportation (including impacts related to the current conflict between Russia and Ukraine and disruptions in supply of raw materials caused by transportation delays), (3) the impact of the COVID-19 pandemic and the various governmental, industry and consumer actions related thereto, (4) competitive pressures, consumer preferences for alternative forms of packaging or consolidation among competitors and customers, (5) the Company's ability to improve its glass melting technology, known as the MAGMA program, and implement it within the timeframe expected, (6) unanticipated operational disruptions, including higher capital spending, (7) the failure of the Company's joint venture partners to meet their obligations or commit additional capital to the joint venture, (8) the Company's ability to manage its cost structure, including its success in implementing restructuring or other plans aimed at improving the Company's operating efficiency and working capital management, and achieving cost savings, (9) 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, (10) the Company's ability to generate sufficient future cash flows to ensure the Company's goodwill is not impaired, (11) the Company's ability to achieve its strategic plan, (12) unanticipated expenditures with respect to data privacy, environmental, safety and health laws, (13) the ability of the Company and the third parties on which it relies for information technology system support to prevent and detect security breaches related to cybersecurity and data privacy, (14) changes in capital availability or cost, including interest rate fluctuations and the ability of the Company to refinance debt on favorable terms, (15) foreign currency fluctuations relative to the U.S. dollar, (16) changes in tax laws or U.S. trade policies, (17) risks related to recycling and recycled content laws and regulations, (18) 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 or operations and financial condition, the Company does not assume any obligation to update or supplement any particular forward-looking statements contained in this document.

AT A GLANCE

ATTRACTIVE PRODUCT PORTFOLIO

33% beer 21% wine 17% food 15% NAB 14% spirits

DIVERSE CUSTOMER BASE

6,000+ direct customers

GLASS IS THE MOST SUSTAINABLE PACKAGE

all natural, endlessly recyclable, NEVER trash

MAGMA

reimagines glass making to support customer aspirations and enable profitable growth

UNPARALLELED PRODUCTION NETWORK

69 factories 19 countries

#1LEADER IN GLASS PACKAGING

$6.9 billion in net sales

DEDICATED & ENGAGED TEAM

24,000+ associates

Note: based on 2022 data

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ATTRACTIVE INVESTMENT OPPORTUNITY

AGILE EXECUTION

PROFITABLE GROWTH

Strongest Glass Fundamentals in 20+ yrs

BREAKTHROUGH INNOVATION

MAGMA Creates a New Paradigm for Glass

SUSTAINABILITY

Glass is Set to Win in the New Green Economy

Bold Transformation and

Delivering on Commitments

IMPROVE PERFORMANCE

AND REDUCE RISK

Resolve Legacy Liabilities and

Improve the Balance Sheet

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IMPROVE PERFORMANCE AND REDUCE RISK

Consistent Earnings and Balance Sheet Improvement

HIGHER EARNINGS

3.50
3.00			> $2.50
2.50		2.30
2.00	1.83
aEPS
1.50
1.22
1.00
0.50
0.00
2020	2021	2022	2023 Guidance

LOWER FINANCIAL LEVERAGE 1

	6.0
	5.5
	5.0
		4.4
1	4.0
Leverage
		3.4	< 3.0
3.0
Financial
				2.5
2.0
	1.0				2.5
	0.0
	2020	2021	2022	2023	Longer
				Guidance	Term Target

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1 Management defines Financial Leverage as the addition of net debt, Support for Paddock and unfunded pension liability divided by Adjusted EBITDA. See the appendix for further disclosure.