O-I Glass Completes Full Allocation for Second Round of Green Bond Offerings

• O-I completes full allocation of $690 Million due 2031, issued by Owens-Brockway Glass Container, Inc.
• O-I completes full allocation of €600 Million due in 2028, issued by O-I European Group B.V.
• Allocations mark another significant step forward in company climate-change strategy 

Perrysburg, Ohio, May 13, 2024 (GLOBE NEWSWIRE) --  – O-I Glass, Inc. (“O-I Glass”, “O-I” or the “Company”) announced today that the Company has completed full allocation of the proceeds from its second round of Green Bond offerings to advance the company’s 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 €600 million, respectively.  

The Green Bond proceeds were spent on Eligible Green Projects as defined in O-I’s Green Financing Framework (the “Framework”), developed based on the Green Bond Principles and the Green Loan Principles.  

The Company engaged Sustainalytics to provide a second-party opinion, which noted the Framework’s outlined Eligible Green Projects are “expected to deliver positive environmental impact” and are “credible from a transition perspective.”  

The Green Bond proceed expenditures enriched O-I’s 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.  

Additional details of the Company’s allocation are provided in the following tables: 

Eligible Green Projects		Total Allocation (USD) up to January 2024
Sustainability in O-I Group Operations	Renewable Energy	1,937,133
	Energy Efficiency	3,534,676
	Sustainable Water & Wastewater Management	1,905,892
	Environmentally Friendly Production   Technologies and Processes	164,272,175
Sustainable Products	Circular Economy	1,151,953,109
	Environmentally Friendly Adapted Products	15,657,015
Total Use of Proceeds		1,339,260,000