FOR IMMEDIATE RELEASE
For more information, contact:
Chris Manuel, Vice President of Investor Relations
567-336-2600
Chris.Manuel@o-i.com

O-I GLASS ANNOUNCES EXPANSION IN THE ANDEAN MARKET TOSERVE GROWING DEMAND FOR SUSTAINABLE GLASS PACKAGINGPERRYSBURG, Ohio (MARCH 23, 2021) – O-I Glass, Inc. (NYSE: OI) today announced asignificant investment to support strong customer demand for highly sustainable glass packaging.
O-I will invest approximately $75 million in an expansion at its Zipaquirá, Colombia facility. Uponcompletion by the end of 2022, the project is expected to add nearly 2 percent of capacity to thecompany’s Americas segment and produce about 500 million bottles annually.
“Our customers recognize the strong brand building characteristics and superior sustainability
profile that make glass the preferred packaging substrate. In particular, strong market growth andaffinity for glass is fueling significant demand for glass packaging in the Andean market. Building
on our highly successful expansion at the Zipaquirá facility in 2019, we are excited to add a fourth
furnace with an attractive return on investment to support market growth. As a result, the facility
will be one of O-I’s largest and most cost effective plants in the global network,” said AndresLopez, O-I CEO.
“Working with our customers, we aim to enable profitable growth in attractive markets such as
this new furnace at Zipaquirá and last year’s expansion at Gironcourt, France. At the same time,
we are fully committed to reducing debt and optimizing our business portfolio supported by ourtactical and strategic divestiture program. To date, we have completed approximately $900 millionof divestitures with proceeds directed to reduce debt. To support the Zipaquirá expansion andmaintain our debt reduction targets, we have expanded our total divestiture target to $1.15 billion
or higher by the end of 2022. As we strive to increase shareholder value, we believe these actions
will generate profitable growth, higher margins, enhance our business portfolio and strengthen
our balance sheet,” concluded Lopez.
About O-I GlassAt O-I Glass, Inc. (NYSE: OI), we love glass and we’re proud to be one of the leading producers
of glass bottles and jars around the globe. Glass is not only beautiful, it’s also pure and completely
recyclable, making it the most sustainable rigid packaging material. Headquartered in Perrysburg,Ohio (USA), O-I is the preferred partner for many of the world’s leading food and beverage brands.
We innovate in line with customers’ needs to create iconic packaging that builds brands aroundthe world. Led by our diverse team of more than 25,000 people across 72 plants in 20 countries,
O-I achieved revenues of $6.1 billion in 2020. Learn more about us:o-i.com / Facebook / Twitter / Instagram / LinkedIn

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The company routinely posts important information on its website – www.o-i.com/investors.
Forward-Looking Statements
This press release contains “forward-looking” statements related to O-I Glass, Inc. (“O-I Glass” orthe “company”) within the meaning of Section 21E of the Securities Exchange Act of 1934, asamended (the “Exchange Act”) and Section 27A of the Securities Act of 1933. Forward-looking
statements reflect the company’s current expectations and projections about future events at thetime, and thus involve uncertainty and risk. The words “believe,” “expect,” “anticipate,” “will,”“could,” “would,” “should,” “may,” “plan,” “estimate,” “intend,” “predict,” “potential,” “continue,” andthe 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 toa variety of factors including, but not limited to the following: (1) the impact of the COVID-19
pandemic and the various governmental, industry and consumer actions related thereto, (2) thecompany’s ability to obtain the benefits it anticipates from the Corporate Modernization, (3) risks
inherent in, and potentially adverse developments related to, the Chapter 11 bankruptcy
proceeding involving the company’s wholly owned subsidiary Paddock Enterprise, LLC(“Paddock”), that could adversely affect the company and the company’s liquidity or results ofoperations, including the impact of deconsolidating Paddock from the company’s financials, risks
from asbestos-related claimant representatives asserting claims against the company andpotential for litigation and payment demands against the company by such representatives andother third parties, (4) the amount that will be necessary to fully and finally resolve all of Paddock’s
asbestos-related claims and the company’s obligations to make payments to resolve such claims
under the terms of its support agreement with Paddock, (5) 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, achieving costsavings, and remaining well-positioned to address Paddock’s legacy liabilities, (6) the company’sability to acquire or divest businesses, acquire and expand plants, integrate operations ofacquired businesses and achieve expected benefits from acquisitions, divestitures or expansions,(7) the company’s ability to achieve its strategic plan, (8) the company’s ability to improve its glass
melting technology, known as the MAGMA program, (9) foreign currency fluctuations relative tothe U.S. dollar, (10) changes in capital availability or cost, including interest rate fluctuations andthe ability of the company to refinance debt on favorable terms, (11) the general political,economic and competitive conditions in markets and countries where the company hasoperations, including uncertainties related to Brexit, economic and social conditions, disruptionsin the supply chain, competitive pricing pressures, inflation or deflation, changes in tax rates andlaws, natural disasters, and weather, (12) the company’s ability to generate sufficient future cash
flows to ensure the company’s goodwill is not impaired, (13) consumer preferences for alternative
forms of packaging, (14) cost and availability of raw materials, labor, energy and transportation,(15) consolidation among competitors and customers, (16) unanticipated expenditures withrespect to data privacy, environmental, safety and health laws, (17) unanticipated operational
disruptions, including higher capital spending, (18) the company’s ability to further develop its
sales, marketing and product development capabilities, (19) the failure of the company’s joint
venture partners to meet their obligations or commit additional capital to the joint venture, (20) theability 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, (21)changes in U.S. trade policies, and the other risk factors discussed in the company’s Annual2Report on Form 10-K for the year ended December 31, 2020 and any subsequently filed Annual
Report on Form 10-K, Quarterly Reports on Form 10-Q or the company’s other filings with theSecurities and Exchange Commission.

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