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PERRYSBURG, Ohio, May 16, 2024 \/3BL\/ – O-I Glass, Inc. (\u201cO-I Glass\u201d, \u201cO-I\u201d or the \u201cCompany\u201d) announced that the Company has completed full allocation of the proceeds from its second round of Green Bond offerings to advance the company\u2019s climate-change strategy. In May of 2023, Owens-Brockway Glass Container Inc., and OI European Group B.V. launched private Green Bond offerings of $690 million and \u20ac600 million, respectively.<\/p>\n
The Green Bond proceeds were spent on Eligible Green Projects as defined in O-I\u2019s Green Financing Framework (the \u201cFramework\u201d), developed based on the Green Bond Principles and the Green Loan Principles.<\/p>\n
The Company engaged Sustainalytics to provide a second-party opinion, which noted the Framework\u2019s outlined Eligible Green Projects are \u201cexpected to deliver positive environmental impact\u201d and are \u201ccredible from a transition perspective.\u201d<\/p>\n
The Green Bond proceed expenditures enriched O-I\u2019s climate-change strategy through the following Eligible Green Projects: renewable energy reliance, energy efficiency, sustainable practices in water and wastewater management, environmentally friendly production technologies and processes, circular economy, and environmentally friendly adapted products.<\/p>\n
Additional details of the Company\u2019s allocation are provided in the above tables.<\/p>\n
\u201cThe road to sustainability, for O-I, is paved by innovation\u201d said Meena Dafesh, Vice President, Treasurer for O-I. \u201cWe are continuously working across our entire ecosystem of partners to advance the sustainability of our products and processes. Through the use of Green Bond proceeds, and other visionary approaches, O-I is making tangible progress toward our ambitious sustainability goals and helping our customers to advance in their aspirations as well.\u201d<\/p>\n
The commitment to cullet (recycled glass) investment underscores the company\u2019s strides toward a sustainable future by immediately reducing carbon emissions, lowering energy consumption, and preserving natural resources. With the amount of cullet designated for this initiative, the company has achieved significant conservation efforts including, approximately:<\/p>\n
These sustainable savings coming from cullet utilization are further enhanced by additional eco-friendly investments made by the company that are designated to that initiative, which include:<\/p>\n
Management\u2019s assertions on the allocation of an amount equal to net proceeds to qualifying Eligible Green Projects as well as the examination reports of our independent accountants are available on the O-I website, along with information on O-I\u2019s overall sustainability agenda.<\/p>\n
In November 2019, O-I became the first U.S. high yield industrial green bond issuer with the company\u2019s inaugural green bond issuance, and O-I remains committed to supporting our climate-change strategy through sustainable financings. To learn more about O-I\u2019s Green Financing Framework, offerings, and allocation of net proceeds to qualifying eligible green projects, visit: http:\/\/o-i.com\/sustainability<\/p>\n
IMPORTANT NOTES ABOUT THIS INFORMATION\u00a0<\/strong><\/p>\n Perceptions of the sustainability and \u201cgreen\u201d nature of activities and projects are subject to varying definitions, expectations, and regulations, which continue to evolve. Certain of these decisions involve notable discretion and, as such, we cannot guarantee that the activities discussed above align to any particular stakeholder\u2019s preferences or any specific taxonomy regarding sustainable or green activities. Moreover, our Green Financing Framework, the allocation of funds to Eligible Green Projects referenced in this announcement, and related aspects of our climate-change strategy are subject to certain important disclaimers, qualifiers, and risks, including those included in our filings with the Securities and Exchange Commission, that should be reviewed in concert with any assessment of the characterization of our activities hereunder.<\/p>\n ABOUT O-I GLASS\u00a0<\/strong><\/p>\n At O-I Glass, Inc. (NYSE: OI), we love glass, and we are proud to be one of the leading producers of glass bottles and jars around the globe. Glass is not only beautiful, it is also pure, healthy, 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\u2019s leading food and beverage brands. We innovate in line with customers\u2019 needs to create iconic packaging that builds brands around the world. Led by our diverse team of approximately 23,000 people across 68 plants in 19 countries, O-I achieved revenues of $7.1 billion in 2023. Learn more about us:\u00a0\u00a0 contact:
o-i.com \/ Facebook \/ Twitter<\/a> \/ Instagram \/ LinkedIn<\/p>\n
JIM WOODS<\/strong>
Corporate Affairs
James.Woods@o-i.com<\/p>\n<\/p><\/div>\n