Final to printer3 2018 investor day

Cautionary Statement
Material presented on today’s call includes forward-looking statements about Libbey Inc. These
statements are subject to risks and uncertainties, including market conditions, competitive
pressures, the value of the U.S. dollar and potential significant cost increases. Please refer to
the Company’s Form 10-K for fiscal year-end December 31, 2017, filed on March 1, 2018 for
further information.
This presentation includes financial information of which the Company’s independent auditors
have not completed their review. Although the Company believes that the assumptions upon
which the financial information and its forward looking statements are based are reasonable, it
can give no assurances that these assumptions will prove to be accurate.
This presentation and today’s prepared remarks contain non-GAAP financial measures. We
believe that the Adjusted Earnings Before Interest Taxes Depreciation and Amortization, or
Adjusted EBITDA; Adjusted EBITDA margin; Trade Working Capital; Debt, net of cash to Adjusted
EBITDA; ROIC and references to sales in constant currency are meaningful measures for
investors to compare our results from period to period.
Reconciliations of the non-GAAP to GAAP measures may be found in the Appendix of this
presentation as well as in the previously filed earnings press releases. 2

Breakfast 8:00 - 8:30
Joe Huhn
Vice President, FP&A and Investor Relations
• Welcome 8:30 - 8:35
William Foley
Chairman and Chief Executive Officer
Sarah Zibbel
Senior Vice President, Chief Human Resources Officer
• Corporate Overview
• External Markets/Competition
• Strategy Introduction
8:35 - 9:10
William Foley
• New Products 9:10- 9:30
Klay Huddleston
Senior Vice President, Chief Digital Officer
• E-commerce Strategy 9:30 - 9:55
Bill Mossing
Senior Vice President, Chief Supply Chain Officer
• Operations Excellence 9:55 - 10:10
Coffee Break 10:10 - 10:20
Regional Presidents • Regional Overviews 10:20 - 11:05
James Burmeister
Senior Vice President, Chief Financial Officer
• Financial Overview
• Capital Allocation
11:05 - 11:25
William Foley
• Closing Remarks 11:25 - 11:30
Q&A 11:30 - 12:00
Agenda
3

Joe Huhn
Vice President, FP&A and Investor Relations
• 23 years Corporate Finance Experience
• 4 years at Libbey, 3 years as Group CFO, USC
• Finance Director for 8 years at Whirlpool
Bill Foley
• Served as Chairman & CEO of Blonder Accents,
Blonder Company, LESCO Inc., and Think Well Inc.
• Director of Company Since 1994
• First 14 Years of his career at Anchor Hocking Corp.
Klay Huddleston
Senior Vice President, Chief Digital Officer
• 22 Years of Leading E-commerce Initiatives
• SVP, Total Commerce Practice, IBM
• Leadership Positions at Amazon.co.uk & Amazon.com
Pablo Villarreal
President Latin America Region
• Country Manager, Libbey Mexico since 2014
• General Manager, Healthcare & Lighting, General
Electric
• Extensive operations experience at TRW and
General Electric
Antoine Jordans
President EMEA and Asia Pacific Regions
• 30 Years of Global Commercial Experience
• Commercial Director, Libbey Europe
• Founder & Owner, Patrick’s Toys
Jim Burmeister
Senior Vice President, Chief Financial Officer
• VP, Finance & Treasurer, The Anderson’s, Inc.
• VP, Finance, Owens Corning
• GE Corporate Audit Staff
• Captain in the Marine Corps
Investor Day Presenters
4
Bill Mossing
Senior Vice President, Chief Supply Chain Officer
• 28 Years Cross-Functional Leadership Experience
• VP, Supply Chain, Bendix Commercial Vehicle Systems
• Leadership Positions at Dana Corporation
Sarah Zibbel
Senior Vice President, CHRO
• 15-year track record of leading transformational change
• VP, Global Talent, Culture & Org. Effectiveness, O-I
• Leadership positions at MedCorp, Owens Corning and
Rexam

• Demonstrate the depth of our new management team and how they are shaping the
future of our company and executing our strategy
• Overview of our business, the industry and competition
• Provide clarity around the critical need for our Creating Momentum strategy
• Overview of Creating Momentum strategy
– Key accomplishments in 2016 and 2017 and key deliverables for the future
• Strategic initiative deep dives with key metrics and milestones:
– E-commerce
– New products
– Supply chain and capacity
– ERP
• Financial targets through 2021 and capital allocation
Summary of what you will hear today
6
CORPORATE OVERVIEW

Libbey overview
7
CORPORATE OVERVIEW

Our manufacturing and supply chain platform
allows us to reach customers across the globe
8
CORPORATE OVERVIEW

Latin America
18%
EMEA
16%
Other
4%
U.S. & Canada
62%
2017 Net Sales
by Segment
2017 Net Sales
by Channel
2017 Segment
EBIT
Retail
32%
B2B
26%
Foodservice
42%
Latin America
13%
EMEA
3%
U.S. & Canada
92%
Other
(8%)
Our business model is designed to serve
customers in three distinct channels
9
CORPORATE OVERVIEW

Globally, Libbey competes in four categories of
products
~87% OF SALES
Tumblers, stemware, mugs, bowls, floral, salt shakers, shot
glasses, canisters, candleholders
~13% OF SALES
Bakeware, handmade tableware, blender jars, mixing bowls, floral, and
candles
Plates, bowls, platters, cups, saucers, and other tableware
accessories
Knives, forks, spoons, serving utensils, serving
trays, pitchers, other metal tableware accessories
10
CORPORATE OVERVIEW

Libbey has a strong portfolio of brands
11
CORPORATE OVERVIEW

• A network of over 400 of the
world’s finest distributors who
ultimately sell to hotels,
restaurants, bars, etc.
• #1 supplier of glass tableware, #2
supplier of dinnerware/flatware in
the US and Canada(1)
• 90% of sales are replacements
driving predictable revenue stream
We serve a broad global customer base that spans three
differentiated channels
• Primary customers include
leading mass merchants as
well as specialty, grocery,
value-oriented and e-tail stores
• The leading supplier of casual
glass beverageware in North
America(1)
• Strong brand recognition
• Important driver of factory
utilization
• Customers include marketers that
decorate Libbey glassware and
resell to breweries, distilleries, soft
drink companies, craft industries
and food packing companies
• Products include candle and floral
applications, blender jars, mixing
bowls, and washing machine
windows
• Volume supports scale and
typically has higher inventory
turns and lower SG&A
FOODSERVICE
NET SALES $328M
RETAIL
NET SALES $249M
BUSINESS-TO-BUSINESS
NET SALES $204M
12
CORPORATE OVERVIEW
(1)- Management Estimates
(2)- 2017 Reported Net Sales
(2) (2) (2)

• Market leader recognized for
excellence by leading foodservice
distributors
• Extensive product line and steady
pace of innovation has enabled U.S.
price increases in 43 of last 47 years
• Strong foodservice network and in-
house salesforce selling to
established restaurants, hospitality
and tourism along with other
categories
• ‘Annuity like’ revenue stream with a
strong ‘installed base’ of customers
reordering based on table setting
placements
• Best in class service
Foodservice channel: 2017 net sales of $328M
CRISTALERIA DEL ANGEL-
Equipment & Supply
CRISTALERIA MONACO-
Equipment & Supply
EDWARD DON &
COMPANY-
Equipment & Supply
JOHN ARTIS-
UK Equipment & Supply
SYSCO-
Broad Line
TRIMARK-
Equipment & Supply
US FOODS-
Broad Line
WASSERSTROM-
Equipment & Supply
WEBSTAURANT-
Web-based distribution
13
CORPORATE OVERVIEW: FOODSERVICE
WE SELL TO THE LARGEST CUSTOMERS IN THE
FOODSERVICE INDUSTRIES:

Exceptional depth and breadth of product line
14

Exclusive distribution agreements add to the
strength of our offering
15

Premium
Best
Better
Good
Product line is structured to offer brand, quality and
price to meet customer needs
16

• U.S. casual glass beverageware
leader; market share in brick and
mortar estimated at ~35%…more than
twice the next competitor(1)
• Highly recognized brands and
leading private label supplier
• New E-commerce capabilities
position the company for continued
leadership; ~400 SKUs online
• Extensive branded product lines
including bakeware and serveware
• Established retail relationships
provide a platform to launch
innovative products that meet
consumer wants and needs
Retail channel: 2017 net sales of $249M
STRONG RELATIONSHIPS WITH MAJOR RETAILERS:
AMAZON
BED BATH &
BEYOND
CRATE & BARREL
DOLLAR TREE
IKEA
METRO
SORIANA
TARGET
TESCO
WALMART
WAYFAIR
17(1) NPD and Management Estimates
CORPORATE OVERVIEW: RETAIL

Recognized brands in each served market and new
E-commerce capabilities
18
CORPORATE OVERVIEW: RETAIL

• The business-to-business channel
offers diverse opportunities for
growth
• Established global supplier of
decorated glassware for promotions
• OEM supplier to leading appliance
manufacturers
• Growing in houseware applications:
decorated beverageware and glass
components for candles and floral
applications
Business-to-business channel: 2017 net sales of $204M
ESTABLISHED GROUP OF B2B CUSTOMERS:
BATH & BODY
WORKS
DIAGEO
HEINEKEN
NEWELL
STAR SOAP &
CANDLE
SUNBEAM
SYNDICATE
SALES INC.
WHIRLPOOL
19
CORPORATE OVERVIEW: B2B

Customer and Consumer focus, along with great service, are
key differentiators
20
CORPORATE OVERVIEW

Our global reach and scale allow us to effectively compete in
the most profitable segments
21
CORPORATE OVERVIEW

WHAT DROVE US TO THE
CREATING MOMENTUM
STRATEGY

Our Creating Momentum strategy was created to
communicate the need for change in the Company
23
• A number of macroeconomic factors negatively impacted our
industry - shift to digital, restaurant traffic, currency and
imports
• Weakened competition reduced prices to meet declining
conditions
• Our manufacturing platform was not positioned to respond to
changing market needs
• Virtually no growth in last decade as a Company
CORPORATE OVERVIEW

The rapid consumer demand shift to digital commerce
weakened our position in the retail glass tableware market
24
0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4
2010 2011 2012 2013 2014 2015 2016 2017
Estimated Quarterly U.S. E-commerce Sales as a
Percent of Total Retail
Source: U.S. Department of Commerce – seasonally adjusted figures
(1) Deloitte – “The great retail bifurcation” – March 14, 2018
CORPORATE OVERVIEW
Expected growth
rate of 11.7%
through 2022(1)

Negative restaurant traffic trends began to
accelerate in 2016
-10.0%
-5.0%
0.0%
5.0%
10.0%
15.0%
20.0%
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
2015 2016 2017
U.S. Restaurant Traffic Trend
Source: Knapp Track - Year-over-year traffic
25
Accelerated Decline
CORPORATE OVERVIEW

0.80
0.90
1.00
1.10
1.20
1.30
1.40
1.50
2014 2015 2016 2017
Euro / USD Exchange Rate
Source: Bloomberg
10.0
12.0
14.0
16.0
18.0
20.0
22.0
24.0
2014 2015 2016 2017
MXN / USD Exchange Rate
Source: Bloomberg
The strengthening dollar has led to increased
competition from imports into the U.S.
CORPORATE OVERVIEW
26

Rising imports put significant price pressure on the
U.S. market
0
100
200
300
400
500
600
700
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
Indonesia
Bulgaria
Turkey
France
Germany
Mexico
Other
China
NumberofPieces(Millions)
Includes all 14 HTS codes in Stemware, Tumblers, Kitchen/Table and Decorative
(1) - Source: US Census Bureau and USA Trade Data
Pieces Imported Into the U.S. by Country(1)
27
CORPORATE OVERVIEW

29
Creating Momentum Strategy
CREATING MOMENTUM STRATEGY

31
(1)
(1)
(1) - see Appendix for definition of non-GAAP measure.

Path to sustainable Organizational Excellence
33
OPPORTUNITYALIGNED
STRATEGYALIGNED
CUSTOMER&MARKETALIGNED
-Reactive,
short-term
planning &
thinking
-Silos
-Self-driven
accountability
-Clear strategy
-Structure,
processes &
people aligned
to strategy
-Casual look at
markets &
competitors
-Focus on
planning
-Continuous
market&
customer
assessment
-Newer markets
creation
-Flexibility to
modify & scale
-Strong people
focus
o Communicate and align around
strategy – connecting every associate
to the results of the business
o Develop and strengthen internal
capabilities – aligned and adapting to
the market and our customers
o Attract and retain great talent -
blending our rich history with new ideas
and capability
o Transform to a high-performing
culture
- through an ownership and winning
mentality at every level

Strong foundation – People and processes
34
• Integrated Talent Management
System focused on sustainable
high performance
• Securing our base of core subject
matter expertise in the industry
• Strengthening capability in
leading through transformational
change
• Building a culture of learning,
change readiness and continuous
improvement

Libbey Financial Goals
Financial targets(1)
35
(1) - These projections are based on the Company’s organic business targets and do not reflect the potential impacts of any merger, acquisition, divestiture or other
corporate restructuring activity
(2) - See definitions of Non-GAAP measures in the Appendix
Long-Term Goal 2021 Estimate
Revenue growth 2% to 5% $840 - $900
4 - year CAGR ~2-3%
Adjusted EBITDA margins(2) 14% to 16%
~14% - 15%
$118 - $135
Net debt to Adjusted EBITDA(2) 2.0 to 3.0 X 2.3 - 2.7 X
ROIC(2) Maintain 11% to 13% 10% - 12%
Capital expenditures $45 - $55 $45 - $55
$ in millions

Create Profitable Growth through new product and
market development
• Products that are consumer driven and
supported by the market are a requirement
for all channels to be successful
1. De-commoditize our offerings,
allowing us to realize higher margins
2. Give us access to new markets that
enable profitable growth
37
NEW PRODUCT DEVELOPMENT

In 2016 we implemented efforts to build a new product
pipeline to drive profitable growth
U.S. and Canada launched 647
products in 2017
U.S. and Canada region has a
strong pipeline for next 3 years
• $175M pipeline through 2020
• 26 projects underway
• 456 products launched in
2018
Sales from new products are offsetting losses from
declining markets and providing growth
38
Driving Revenue
& Margin Growth
in recent quarters

Product development starts with ideation and progresses through
market and customer-based tollgates until product launch
r
Customer needs, channel and category strategies guide the process
39
GROWTH IDEATION & EVALUATION STAGE GATE PROCESS LIFE CYCLE MANAGEMENT

IMPACT METRIC

To drive transparency on financial benefits we launched an impact
metric to measure the progress of our new products
Each quarter, we report what percentage of our sales within the period
are driven by products launched in the previous 36 months
– It takes between 12 and 18 months to achieve placement and see growth
– E-commerce accelerates the curve
– Provides an opportunity to improve gross margins
– This revenue is not 100% incremental; however, it is necessary to maintain the
health of our revenue stream, enter new markets, and offset traffic declines
– Incorporated into executive compensation metrics
A steady pipeline of new products sustains the health of our portfolio
41

USC is realizing benefits of new product introductions
with expected lift from 2017 and 2018 launches
It takes 12-18 months to see meaningful benefits
$-
$10.0
$20.0
$30.0
$40.0
$50.0
$60.0
$70.0
First Half 2017 Second Half
2017
2018 Est 2019 Est 2020 Est
USC New Product Revenue
• First Half ‘17 – Lack of NPD in 2015 and
2016, declining sales
• Second Half ‘17 – Began to see benefits
of launches including Red Lobster
• 2018 – Healthy level of NPD is expected
to offset market declines
• 2019/20 – Full-year benefit from launches
is expected to help drive growth
($ in millions)
42

Long-term goal is to have new products represent 8-9%
of annual global net sales
43
• It generally takes 12-18 months to reach
run rate…2017 launches are gaining
momentum
• NPD is offsetting market declines and
providing growth in our planning
• Global process expansion is underway
7.0%
7.2%
7.4%
7.6%
7.8%
8.0%
8.2%
8.4%
8.6%
2018 Est. 2019 Est. 2020 Est.
Global New Products % Net Sales
New products are essential for sustainable margins and growth

HEALTHCARE

0
100
200
300
400
500
2014 2020 2030 2040 2050 2060
275 278 285 306 310 319
46 56 74
82 88 98
65+
Up to 64
The business of aging is becoming big business …
• 10,000 people a day are turning 65(1)
• By 2030, over 20% of the population will be
65+ years of age(2)
• Baby Boomers* have 70 percent of the
nation’s disposable income and stand to
inherit $15 trillion over the next 20 years(3)
• Financially, the goal is for seniors to remain
independent and receive the least amount of
support needed for as long as possible
*born between 1946-1964
Sources:
(1) - U.S. Census Bureau
(2) - Senior Housing News
(3) - MetLife/Boston College Center for Retirement Research
65+ population more than 50% growth
in 16 years to 74 million
45
2014 2020 2030 2040 2050 2060
14.5% 16.8% 20.6% 21.7% 22.1% 23.6%
% of 65+ is Growing in the U.S.
Population by Age in
the United States
$ in millions
NEW PRODUCT DEVELOPMENT: HEALTHCARE

Aging population drives demand for more housing
choices
• Consumer demand for better experience is driving
market growth
• Emerging housing options address more life stages:
– Continuing Care Retirement Communities (CCRC’s)
– Independent and assisted living
– Memory care
– Rehabilitation facilities
• Shifts in new construction and renovations turn
traditional institutional approaches into innovative
hospitality settings
The U.S. will need more than 3 million senior housing units by 2040 – about
2 million of which still need to be constructed(1)
Waltonwood at Main in Rochester Hills, MI
46
(1) - Source: American Seniors Housing Association

Dining as a strategic opportunity
• Today’s Baby Boomers have sophisticated palates,
desire menu variety and place increased emphasis
on fresh food and wellness
• Demand for elevated and diverse dining experiences
drives conversions to restaurant-style and options-
dining … bistros, lounges, open-kitchen concepts
• Foodservice is now a key driver that attracts
customers, influences occupancy strategies and
drives satisfaction scores
“Expectations are higher than ever, and retirement residences are actually using their food
program as a marketing tool, as a way to differentiate themselves.”(1)
47
(1) – Source: GFS, Natalie Russell, National Healthcare Sales Manager

Libbey is well positioned for the rapidly growing
$65M market
• Move to hospitality-oriented venues is a shift
away from institutional presentations to Libbey’s
sweet spot…fully integrated tabletop solutions
• There’s no tabletop brand leader, often multiple
vendors are involved in purchase process –
Libbey is a “one stop” tabletop provider,
already known for glass tableware leadership
• Libbey’s hospitality expertise and reputation are
welcomed by this customer base
• Curated product includes: Constellation™
dinnerware with Microban® technology and
specialized, consultative sales approach
Estimated Healthcare Tabletop Industry
Shipments*
+35-50%
Expected growth, the fastest growing non-commercial
foodservice segment
$65
$80
$97
$120
$0
$50
$100
$150
Low End High End
2018 2030*by manufacturer’s cost
48
(in millions)
Note: Microban® is a registered trademark of Microban® Products Company.

CLEARFIRE®
SCALING INTO NEW MARKETS

50
• Master’s Reserve® (Foodservice) and Libbey
Signature® (Retail), made with our proprietary
Clearfire® glass compositions, are both recognized
and respected brands
• 89 shapes in production since launch in second half
of 2015
• Master’s Reserve® foodservice sales up 51% vs.
2017 and growing!
Our Master’s Reserve® and Libbey Signature® product lines have
elevated Libbey into new markets and price points
Clearfire® demonstrates Libbey’s ability to elevate and scale in new markets
NEW PRODUCT DEVELOPMENT: CLEARFIRE®

51
The New York Times’ top pick
After blind-tasting wine in more than
80 different glasses with a
professional winemaker, a sommelier,
and a wine critic, we think the best
everyday wine glass is the Libbey
Signature Kentfield Estate All-
Purpose Wine Glass. We considered
over 250 glasses, and we found that
the inexpensive tulip-shaped Libbey
glass enhanced the aromas of both
red and white wines better than most
of the competition.
NEW PRODUCT DEVELOPMENT: CLEARFIRE®
Sources: “One Wine Glass to Rule Them All” - Eric Asimov March 16, 2017 https://www.nytimes.com/2017/03/16/dining/wine-glasses.html?mwrsm=LinkedIn&_r=0
“The Best Wine Glasses “– Eve O’Neil & Michael Sullivan August 15, 2017 https://thewirecutter.com/reviews/best-wine-glass/

DESIGN, INNOVATION,
GLOBAL SOURCING AND SERVICE

Red Lobster – a case history
53
• Customer wanted to reposition its
chain of 700+ restaurants
• It was critical to implement across the
entire chain to match with timing of
market launch
• Considered a number of suppliers and
selected Libbey because of
experience and ability to deliver
• Delivered across the country all in
the month of November 2017
NEW PRODUCT DEVELOPMENT: RED LOBSTER
Strategy included a new menu and
revamped food presentation

2017 “Joe R. Lee Award for Supplier Excellence”
54
Partnered with key distributor to roll out
new ware to 704 restaurants
• Hand-painted rim
• Supplier-developed durable matte glaze
exclusive to Libbey
• Correct proportions improve food
presentation
• Outstanding service
“Libbey Inc. and their overseas manufacturing partner, pulled off what was
otherwise thought of as the impossible” – Robert Chuhak, Director Capital Equipment and Indirect Sourcing Red Lobster
NEW PRODUCT DEVELOPMENT: RED LOBSTER

CONSTELLATIONTM DINNERWARE
WITH INTEGRATED MICROBAN® TECHNOLOGY
INNOVATION & VERSATILE DESIGN

• Employee hygiene and handling ranked the most at-
risk food safety components(1)
• Presence of bacteria ranked top food safety
concern(1)
• Loss of or damaged reputation most significant
concern(1)
• ConstellationTM is the first-ever porcelain dinnerware
with Microban® technology, which helps to minimize
bacterial growth that contributes to the presence of
stains and lingering odors(2)
• Technology exclusive to Libbey in the U.S. and
Canada
Cleanliness challenges can jeopardize reputation
and success
Constellation™ helps address a significant concern in the industry
56
Microban® is a registered trademark of Microban® Products Company.
(1) - Recent blind survey sent to chefs and food and beverage buyers - Food Safety and Cleanliness, R/P Marketing Public Relations, April 2017
(2) - Applies only to bacteria that can cause stains, odors and product degradation.
NEW PRODUCT DEVELOPMENT: CONSTELLATION ™

BAKEWARE AND STORAGEWARE
MARKET OPPORTUNITY

Bakeware and storageware represent a sizeable
growth opportunity in North America
Leverage brand, reputation and existing assets to penetrate market
• Significant U.S. market
opportunity ~$165MM per year(1)
• 2017 launches include Baker’s
Basics™, Baker’s Premium™,
Stack It™ and Serve It™
• We had less than 2% of this
market in 2017…but 6 wins with
retailers in the last year
NEW PRODUCT DEVELOPMENT: BAKEWARE AND STORAGEWARE
(1) – Management Estimates
58

Klay Huddleston, Chief Digital Officer
20+ Years of Leadership in E-commerce
and Digital Marketing
60
E-COMMERCE
Experience Includes
Amazon Lane Bryant Justice Just for Girls IBM iX

DRIVING SUCCESS IN THE NEW
RETAIL ENVIRONMENT

KEEPING UP WITH
AND ANTICIPATING
THE CONSUMER
GLOBALLY
62
E-COMMERCE

A new retail
ecosystem has
emerged
Amazon has built a
loyal customer base
and unparalleled brand
equity
Digital-fueled brand
relationships are
driving new,
innovative shopping
experiences
Retail is changing at a rapid pace, driven by new
consumer expectations and innovations
63
E-COMMERCE

100 Million
Prime Members
5 Billion
Items shipped worldwide
through Prime
#1 in customer
satisfaction
9 years in a row
More Prime members than
people who voted for our
current president
The Amazon Factor
64
E-COMMERCE
Sources: https://www.amazon.com/gp/feature.html?ie=UTF8&docId=1001924291
https://www.sec.gov/Archives/edgar/data/1018724/000119312518121161/d456916dex991.htm

2017
$249.9B $37.4B $10.6B $20.7B $327.6M $9.4B $1.9B $765B $8.3B
WALMART TARGET KOHL’S BEST BUY SEARS MACY’S JCPENNEY AMAZON NORDSTROM
$192.7B $51.3B $24.5B $23.5B $22.48B $20.6B $18.3B $16.5B $13.4B
2007
Source: Inc. Magazine, Google Finance, 2017
By Market Cap, Amazon is bigger than most
Retail B&Ms put together
65
E-COMMERCE

OVERALL E-COMMERCE
SALES PENETRATION
INCREASING

10
DIGITAL IS INFLUENCING
56%+ OF ALL IN-STORE
SALES
Source: Deloitte Insights: “The new digital divide- The future of digital influence – September 12, 2016
67
E-COMMERCE

To make it easier for customers to
choose LIBBEY®
products, we
needed to build our capabilities to
DELIVER ON DIGITAL
68
E-COMMERCE

Online Selling Is the Way to Grow
$453B
2017 Total U.S.
Retail
E-commerce
Sales
8.9%
E-commerce %
Total U.S.
Retail Sales
13.5%
Housewares +
Furnishings % of
E-commerce
69
E-COMMERCE
Sources: https://www.census.gov/retail/mrts/www/data/pdf/ec_current.pdf
https://www.digitalcommerce360.com/2017/08/09/e-commerce-grow-17-us-retail-sales-2022/

AMAZING OPPORTUNITY FOR
LIBBEY AHEAD

71
WE ARE building capabilities and
experiences designed to own the
tabletop buying experience -
across all channels and business models
E-COMMERCE

Our strategy is to collaboratively
build toward a future vision rather than react to a current one
2017
Build
Capabilities
2018
Accelerate +
Optimize
2019
Operationalize +
Innovate
Scaled Global
Expansion
Our digital journey has just begun
72
E-COMMERCE

Tools, Technology
& Process
Analytics
Capability
Accelerating Amazon
Brand & Marketing
Platform
Development
Building Demand to
Drive Fair Share
E-commerce Org &
Location
Development
Content Scaling &
Optimization
Building Global
Business
Libbey digital journey drivers
73
E-COMMERCE

Partner to accelerate and build capabilities enabled by scale and efficiency
Scale U.S. core categories and expand via product
and experience innovation
Scale E-commerce globally—International under-leveraged,
opportunity to expand geographies, EMEA first
Investment in demand creation
Near-term plan to win
75
E-COMMERCE
Investment in building team in Columbus

Finalist for
Amazon
HQ2
Fastest-Growing
Startup Economy in
the Country
Smart City
Grant Winner
#3 Retail
Fashion
City
Why Columbus?
76
E-COMMERCE
Source: https://ventureohio.org/wp-content/uploads/2017/06/2017-VentureReport-LR.pdf

E-commerce is part of our
consumers’ daily routines. Now, they
expect more from brands and seek
out great experiences that cater to
their needs and reflect the life they
want to live.
19
Next…
77
E-COMMERCE

ASSESS
& BUY
• Content
• Assortment
• Promotions
• Pricing
SEARCH &
DISCOVER
• Earned
• Paid
• Organic
• SEO
ENTERPRISE
• Operations • Technology• Supply Chain• Analytics
We are looking across the customer journey, narrowing in on the
opportunities and activities needed to quickly accelerate growth
78
E-COMMERCE

100’s
of Products with
Enhanced
Content
‘18 WayDay
Beats ‘17
Cyber Monday
& Black Friday
+500% YOY
on Amazon
Avg. Unit
E-commerce
Retails higher v.
Brick & Mortar
3PL Shipping at
99.8% on-
time delivery
18
NEW E-commerce
Customers
Launched ’17-’18
Avg. 4
out of 5
star reviews on
Top Products
Libbey E-commerce Is Accelerating
79
E-COMMERCE

80
Investment is beginning to pay off
 Bringing new products to market faster… at improved price
points…enhancing overall product and margin mix
 E-commerce sales are increasing as a percentage of total
Example: U.S. retail sales…we expect to go from 9% in 2017 to >20% by 2021
 Investments supporting sales in existing brick and mortar
outlets
Turning Around Decline in Retail Channel Performance
E-COMMERCE

81
Building on success and learnings
 Expansion of E-commerce into new global regions
• EMEA 2018
• Latin America, Asia Pacific 2019 - 2020
 Broader benefits of digitizing inside the business to streamline
processes and reduce operating costs
 Leveraging processes and technology for other sales channels
Expanding Capabilities to Drive Profitable Growth
E-COMMERCE

2017
Build
• Prioritized wholesale retail
over direct commerce for
near-term growth
• Launched E-commerce
supported by partnerships
for quick wins
• Launched 3PL
• PIM system implementation
with content process
development
• Began planning for
infrastructure needs and
team build out
Digital Shelf and
Capability Building
2018
Accelerate
Team Development and
Demand Generation
• Implemented action plans for
key retailers to deliver digital
shelf improvements and test
demand generation activities
• Adding efficiency-driving tools
like Salsify to improve quality
and speed to market
• Introducing analytics capability
through customer and category
dashboards and roadmap
• Adding new customers to add
incremental sales opportunities
2019
Operationalize
Optimize US Operations
and Grow Globally
• Top digital leadership team based in
Columbus, OH in place to build for future
• Become predictive with our analytics
capability
• Launch new E-commerce capabilities
globally
• Develop E- commerce thought-
leadership ideation capabilities and
category growth strategies for key
segments
• Develop a new technical architecture
vision state for delivery of digital
experiences across division and regions
E-commerce Roadmap to Win Long Term
Scaled Global
Expansion
E-COMMERCE
82

Bill Mossing, Chief Supply Chain Officer
28 years of progressive, cross-functional leadership in
manufacturing
OPERATIONAL EXCELLENCE
84
Dana Bendix Knorr Bremse
Experience Includes

Key Operational Priorities
Deliver Best in
Class Service
Optimize Global
Manufacturing
Network
Optimize
Inventory
Profile
85

86
Order-to-
Delivery
(Service)
(Cash)
Organization aligned for improved execution
• Customer Service Function
• Order-to-Delivery Process
• Service Metric
Integrated Planning
SUPPLY CHAIN • Mfg. / Logistics Functions
• Mfg. Network Optimization
• Cost Metric
• Materials Planning Function
• Inventory Mgmt Process
• Cash Metric

87
Order-to-
Delivery
(Service)
Deliver best in class service
• Customer Service Function
• Order-to-Delivery Process
• Service Metric
• Leverage service as a
competitive advantage
• Organization aligned
accordingly
• Drive On-Time & In-Full
(OTIF) improvement
• Operational execution
• Flexibility / agility

88
(Cash)
Optimize inventory profile
• Materials Planning Function
• Inventory Mgmt Process
• Cash Metric
• Drive stocking and
replenishment strategies
• Improve product portfolio
management
• Leverage supply
relationships
• Ensure product availability
• Improve inventory turns

89
Order-to-
Delivery
(Service)
(Cash)
Optimize Global Manufacturing Network
• Mfg. / Logistics Functions
• Mfg. Network Optimization
• Cost Metric
Facing
Reality
Our
Journey
Current
State

Facing Reality
90
Over time, Libbey has neither adapted to changes in market demand nor
aligned our assets to be advantaged vs. our competition
• In U.S., processes were labor intensive with a relatively higher labor cost… pressuring
margins lower and limiting our ability to compete
• Local demand in Asia slowed, while Libbey China greatly improved productivity… leaving
plant underutilized, driving up inventory and resulting in down-time charges
• Mexico capacity was allocated to low-margin, LATAM business, while we were poorly serving
USC Region, where higher margins could be achieved
• Competitors were acting irrationally… driving pricing lower to fill capacity and drive cash
flows

Our Journey
91
• Redesign our manufacturing platform… meet market needs
– Fix, move or exit processes that are high in costs relative to market price
– Improve global manufacturing planning & coordination
• Maximize global asset utilization, flexing with sourced supply
– More consistently utilize Libbey factories while partnering with suppliers to achieve
volume flexibility
• Leverage Continuous Improvement to improve capabilities, lower costs and stay
competitive with market needs
• Network Optimization is now a continuous process to match capacity and technology to
changing market needs

92
Current State
Significant improvements made over the last 12 months to improve our
Global Manufacturing Network driving improved ROIC(1)
• We have reduced capacity on processes in the United States where we were undersold
and are using the available glass on processes that are sold out
• We have improved utilization in China by serving affiliate needs
• We have improved our commercial margin profile in Latin America and are adding
new capabilities to support market needs
• We have invested in numerous projects to improve safety, quality, delivery and cost

Poised for Continued ROIC(1)
Improvement
Revenue Growth
Lower Trade Working Capital(1)
Higher Margins
Minimize Capital Investment
Lower Cost
93
 Best in Class Service
 Optimize Inventory Profile
 Product Portfolio Management
 Maximize Asset Utilization
 Productivity Improvement

U.S. and Canada is well positioned for profitable growth
• Strong relationships with key
customers and suppliers
• Advantaged go-to-market with field
sales and E-commerce
• Robust product pipeline provides
value to the customer and
differentiation from competition
• Manufacturing and distribution footprint
provides great service and low-cost
and advantaged manufacturing
96
USC REGION

Shreveport, LA
Toledo, OH
Chicago, IL
Laredo, TX
Johnstown, PA
Mira Loma, CA
Monterrey, Mexico
Manufacturing Facility
Company Managed Distribution Center
Millington, TN
3PL Managed Distribution
Center 97
North American manufacturing and distribution
provide a clear advantage in both service and cost
USC REGION

Addressable market(1) is $1.8B, with significant
opportunity for growth in all channels
U.S. and Canada Foodservice
Est. Market Size: $820MM(1)
U.S. and Canada Retail
U.S. and Canada B2B
Glassware
50%
Dinnerware
30%
Flatware
20%
Candles
64%
Cutter/
Decorator
22%
Floral
8%
Direct
Selling
6%
Beverage/
Stemware
47%
Dinner/Serve/
Bakeware
20%
Home Decor
11%
Food Storage
22%
98
USC REGION

There is a mixture of domestic and foreign
competitors in each channel in the U.S. and Canada
99
Foodservice Retail B2B
Arc / Cardinal
Oneida / Anchor
Steelite N/A N/A
Fortessa N/A
Cristar N/A
Reidel
Speigelau / Nachtman N/A
USC REGION
STRONG CHALLENGEDAVERAGE Note: Management Estimates

Foodservice channel offers growth potential with new
markets and take-share opportunities
• #1 in glassware and top 3 in dinnerware and flatware;
60% share of drinkware & stemware market(1)
• Most recognized brand(1) in foodservice glass tabletop
• Known as trusted and reliable supplier, with category-
leading service levels
• Growing force in Hospitality, with broad-based product
portfolio to address higher end market segment
• Tenured, factory-direct salesforce is the largest in the
industry, with a long history of relationships with key
distribution partners
• Broad brand and product portfolio relevant to key
customers and end users
• Recognized for product innovation relevant to current
and emerging industry trends
Flatware
Dinnerware
100
USC REGION
PRODUCT TYPES IN CHANNEL
Glassware

Libbey is a market leader in retail, with a broad product
portfolio and rapidly developing E-commerce capabilities
• Trusted and reliable supplier
• Trusted trade brand for assortment
differentiation
• Industry leader in beverageware, stemware,
and largeware
• Omni-channel approach provides
advantages for Libbey, its customers, and the
consumer
• Low-cost supplier with Mexico
manufacturing
• Diverse market presence across extensive
customer base covering various trade
channels.
101
USC REGION
Beverageware

B2B channel is supported by advantaged
manufacturing, speed to market and service
• Strategic partnerships with high-volume
customers provide footprint efficiency
• Market leadership in floral with exclusive
manufacturing capability
• Libbey development lines provide
differentiated service to customers
• Preferred supplier with decorators
• Lower-cost alternative with Mexico
manufacturing
• Best-in-class breadth of assortment for
broad range solutions
102
USC REGION

Significant progress made in adapting to rapidly
changing markets and intense competition
What is working Continuing challenges
• New product pipeline providing a path for
growth
• E-commerce capabilities is providing growth
opportunities in retail
• Master’s Reserve® and Libbey Signature®
product lines are in place and rapidly
growing in foodservice and retail,
respectively
• Foodservice market share growth over two
years despite restaurant traffic decline
• Success in foodservice strategy to grow in
hospitality and fine-dining segment –
Healthcare launch this year
• Foodservice traffic declines average 3% over
two years
• Retail sales declines driven by brick & mortar
traffic declines and increased competition
from imports
• Price erosion driven by competitors who have
excess capacity and are in financial distress
• Loss of glass shelf space to alternative
categories
• Acceleration of categories to E-commerce
faster than expected
• Continued need to strengthen design and
innovation
104
USC REGION

Profitable Growth strategy supported by existing
capabilities and processes that are in place
• Actively manage product portfolio to
improve margins
• Robust new product pipeline supported by
customer and consumer research
• Enhance and grow digital capabilities
• Identify and address marketplace
opportunities (healthcare)
• Leverage ERP and new technologies to
lower support costs and be more effective in
the marketplace
105
USC REGION

Operational Excellence is achieved by exceeding
customer expectations and aligning assets to the market
• Meet or exceed customer expectations for
service
• Improve ROIC(1) by aligning assets to the
marketplace
• Continuous improvement efforts focused on
safety, quality, delivery and cost
• Leverage ERP to accelerate efficiencies and
drive data-based operations
106
USC REGION
(1) – See Appendix for definition of non-GAAP measures

LATIN AMERICA (LATAM)
OVERVIEW

Latin America Region is the partner of choice for service and low-
cost manufacturing capabilities
• #1 or #2 in LATAM’s most relevant markets accomplished through a broad
range of company capabilities, strong distribution network and product
innovation(1)
• Low-cost manufacturing capabilities
• Cost competitiveness maintained through continuous improvement
manufacturing techniques
• Recognized by customers as the best service throughout the region
• Important presence in all channel segments: retail, B2B and foodservice
• Top-quality management team
108
LATIN AMERICA REGION
(1) – Management’s estimate

109
The Latin America Region
• Two facilities in Monterrey; largest in Western
Hemisphere(1)
• Supplies approximately 40% of production to
affiliates
• Largest tabletop distribution network in Mexico
through 16 owned properties
• Network of wholesale centers throughout South
America
Manufacturing Facilities Distribution Facilities South America Wholesale Centers

Between 2012-2018, volatility in local currency and U.S. Dollar strength
created headwinds for LATAM, which delivered a sales CAGR of 1.5%
2016-2017 volume
reductions to reset our
business profitability; we are
seeing positive results in
2018
110
171.5 179.6
190.1
167.1
151.4
144.3 146.7
171.5 175.8
191.3 188.7 192.5
184.4 188.5
50
70
90
110
130
150
170
190
2012 2013 2014 2015 2016 2017 2018
SALES TREND
Sales in USD Current Sales in USD Constant
Est.
Total sales in USD (U.S. GAAP) Total Sales in USD (Constant Currency)
($ in million)

Latin American market has potential for growth through leveraging
Libbey’s strengths in foodservice, product capabilities and great service
Beverage/
Stemware
53%
Dinner/
Serve/
Bakeware
& Food
storage
47%
LATAM Retail
Estimated Market Size: $662 MM USD
Glassware
34%
Dinnerware
33%
Flatware
33%
LATAM Foodservice
Candle
41%
Promotional
22%
Catalog
27%
Packer
10%
LATAM B2B
111

The Latin American market is a mixture of domestic
and foreign competitors in each channel
112
Foodservice Retail B2B
Cristar
vSantos
Nadir
Glassia N/A
Oneida / Anchor N/A
Arc / Cardinal N/A
Pasbahce N/A
China Manufacturers
STRONG CHALLENGEDAVERAGE Note: Management Estimates

Libbey is recognized as the premier partner in foodservice
based on its broad product portfolio and reliable service
• Brand very well positioned and
recognized throughout LATAM for
high quality, innovation aligned with
global trend and great service
• Broad product offering meets a
wide variety of customer needs
• Established long-term customer
relationships with industry leaders
throughout the region
113

Market leader in retail driven by product innovation, reliable
service and on-trend products
• Preferred supplier of leading mass
merchants in most relevant markets
• Company known for high quality,
innovation, flexibility and great
service
• Libbey® and Crisa® brands are well
recognized and valued, positioned
above retailers’ own brands
• This channel is key to set consumer
trends in the entire region
Beverageware
114

Diverse B2B portfolio across multiple industries and
product types
• A broad market that includes direct
sell through catalog companies,
candle manufacturers, OEM
appliance manufacturers, branded
products for breweries, distilleries,
soft drink companies and food
packaging
• Manufacturing flexibility, product
innovation, design capabilities
and service are what makes Libbey
the supplier of choice
115

Profitability has improved in the LATAM region through
focused portfolio management
What is working Continuing challenges
• Product innovation capabilities
developed
• Improved profitability through
portfolio management
• Solid team with positive
performance trend
• Launch of lean manufacturing;
early stages driving initial cost
improvements
• Continue mix improvements
through portfolio rationalization
• Continue lean manufacturing to
drive cost reduction
• Focus selling efforts to LATAM
Southern Cone to drive future
growth
117

Profitable Growth
• Improve profitability through portfolio
management and world-class service
• Increased offering of innovative products
supported by new product development process
• Entering into new business categories in which
glass has unique and attractive features for
consumers
• Focused strategy on top five LATAM economies
to expand market share
118

Operational Excellence
LATAM Continuous Improvement Strategy
• Material flow improvements through lean techniques
• Sharing of global best practices to improve productivity
• Equipment standardization & flexibility driving cost
efficiencies
• Promoting a safe work environment for our associates
• Training and developing our teams through a certified
Lean-Sigma manufacturing program
119

EUROPE, MIDDLE EAST &
AFRICA (EMEA) REGION

EMEA strategy is in place with commercial and operational
activities working together to improve ROIC(1)
• Commercial shift from “filling capacity” to focus on improving
margins
• Capacity aligned to marketplace
• Flexible distribution and production
• Leveraging Libbey® brand to establish high-end retail line
121
EMEA REGION
(1) – See Appendix for non-GAAP measure definitions

EMEA Region
2.1 billion people
$27.5 trillion GDP
World’s richest country, Qatar,
and poorest country, Congo
Leerdam, Netherlands
Marinha Grande,
Portugal
122
Manufacturing Facilities Distribution Centers
EMEA REGION
2 plants - Holland & Portugal
Production 225M pcs
2017 Net Sales $127M ex-factory
EMEA Libbey

Estimated European tableware market in 2017 was
$10.6B
123
14%
18%
13%
8%8%
14%
25%
2011
France Germany Italy UK Spain Russia Rest of Europe
14%
18%
12%
8%8%
15%
26%
2017
13%
18%
11%
8%7%
16%
27%
2024
European Tableware Market Share for
Major Countries
Source: : www.StrategyR.com
EMEA REGION

2017 European glassware & crystalware market was $3.6B at retail
pricing; ’17-’24 estimated limited market growth, Libbey approx. 7% market share
124
Dinnerware
51%
16%
34%
2011
European Market by Category
Source: : www.StrategyR.com
50%
16%
34%
2017
49%
17%
35%
2024
EMEA REGION
Flatware Flatware Flatware
Dinnerware
Dinnerware
Glassware &
Crystalware
Glassware &
Crystalware
Glassware &
Crystalware

8.9 8.7 9.0 9.2 9.3 9.0
8.2
7.2 7.0
9.0
9.6 9.7
10.5
10.9
10.2
9.4
8.6
7.8
7.3 7.0
0.0
2.0
4.0
6.0
8.0
10.0
12.0
2000 2002 2004 2006 2008 2010 2012 2014 2016 2018
0.3
1.8
2.3
2.0
2.3
2.1
1.8
1.8
1.7 1.7
0.0
0.5
1.0
1.5
2.0
2.5
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
European Union GDP and unemployment results
have improved
125
Note: **Euro area forecasts and management estimate
EU GDP Growth
(YOY % growth)
EU Unemployment Rate
(% of total workforce)
Source: International Monetary Fund (IMF) Forecast Source: European Commission (EC) Forecast
EMEA REGION

Foodservice: #1 in Europe Bar and Club Segment(1)
• Only glassware products sold today;
potential to expand into dinnerware and
flatware
• Established consolidated central
European distribution center for all
foodservice customers and ability to ship
individual box sizes
• Close contact with bartenders via closed
Facebook page with 4,300 bartenders
• Marketing programs provide innovative
capability to penetrate the segment
126
EMEA REGION
(1) – Management estimates

Retail channel dominated by private label; beginning to
introduce Libbey® brand into high-end retail
• Only glassware products sold
• Dominated by private label
• Royal Leerdam® mid-tier
brand for EMEA region
• Introduction of Libbey® brand
into high-end retail
• Start of E-commerce
Beverageware
127
EMEA REGION

B2B: A market leader in sales to beer and spirits
companies
• Glassware products sold
• Portugal factory capabilities and flexibility
along with deep knowledge of the market
provide competitive advantage
• Libbey has dominant market share in:
–Beer markets of Spain & Portugal
–Whiskey market in Scotland
• Libbey has good market shares in
–Beer markets in the Netherlands &
Belgium
–Liquor markets in France (Cognac) & U.K.
128
EMEA REGION

EMEA operates in the world’s most competitive market
130
EMEA REGION
Our service and focus differentiate us in the market

Sell More /
Aggressive
Prices
Low Margin
Lower Costs
by Producing
More
Fill the
Factories
For almost a decade, Libbey’s EMEA region was
stuck in a cycle of low profitability
131
Low
Profitability
EMEA REGION

EMEA the strategy: Find a way to break through the
cycle of overcapacity & low margins
“If you do not get rid
of the pressure to fill the machines
you will not become profitable”
132
EMEA REGION

The strategic decision was made to reconfigure the business through
targeted investments to drive value-add, while tightly controlling costs
Reset volume
expectations
Grow value-add
through targeted
investments
Reconfigure plants
to drive cost
efficiency and
differentiation
capabilities
1 2 3
Profitability
Improvement
Enabled by a
strong
foundation
Supply Chain: Drive efficiency and effectiveness (and optimize footprint vs. demand)
Talent & Culture: Streamline & add talent to drive the strategy & build accountability culture
Financial Structure: Optimize financial structure and capital deployment
133
EMEA REGION

• Reduce energy costs
• Reduce glass melting capacity
• Reduce sourcing and fill Portugal
• Tightly control SG&A costs
• Reorganize sales & marketing
• Hire best procurement manager in
the retail business
• Eliminate unprofitable business
EMEA 2014-2017: reconfigure business through our
Volume/Value Add strategy
134
• Shift larger percentage of product
mix to higher value
• Invest in capabilities such as
Crack Off & Duratuff®
• Create 1 central European DC for
foodservice products
• Introduce Libbey® brand as high-
end retail brand in EMEA
marketplace
Volume = fill plants & reduce costs Value Add = more $ per glass
EMEA REGION

Price Increases
Improve Mix
Capacity
sized to
market
Improved
Distribution
Reconfiguring the business changed the profitability
story
135
2018
Increasing
Profitability
EMEA REGION

Profitable Growth
• Initiate E-commerce, following the USC
process
• Focus on brand story feeding it with new
product and categories
• Our strategy and organization are aligned to
the low-end and high-end markets which
are thriving
136
EMEA REGION

Operational Excellence
• Operational focus on OTIF, production
capabilities & ERP implementation
• Limited investment in flexibility &
capabilities vs. production capacity
expansion
• Price/mix improvements made possible
by full plants
• Continue cost management progress
137
EMEA REGION

Why Libbey? Investment Thesis
Global Tabletop
Leader
•Global leader in design,
production and sale of tabletop
products
•Strong leadership with
experience that is aligned to the
strategy
•Leading brands and market share
•Licensing agreements and
partnerships
•Low cost production with broad
distribution
Positioned for
Profitable Growth
•Best in class service to highly
diversified customer base
•Healthy pipeline of new products
and entering new business
segments
•Growing E-commerce business
• Global Manufacturing Network
that is aligned to the marketplace
and strategy to improve ROIC(1)
•ERP will simplify go to market,
improve productivity and enable
new technology
Improving Balance
Sheet
•Positioned to increase Free Cash
Flow(1) and continue to
deleverage the balance sheet
•Capital allocation prioritizes
strategic investments and debt
reduction over returning capital
to shareholders
• ABL extended
•Ability to flex spending as
needed
•Opportunity to improve Trade
Working Capital(1)
139

FINANCIAL OVERVIEW
AND CAPITAL ALLOCATION

Continuous improvement; return to long-term financial
goals by 2021
141
Goal 2017 Actual 2018 Est.(1) 2021 Est.(1)
Revenue growth 2% to 5% $782
(1.5%)
$790 – $805
1%-3%
$840 - $900
4 – year CAGR ~2-3%
Adjusted EBITDA
margins(2) 14% to 16% 9.0% 10% - 11%
~14% - 15%
$118 - $135
Net debt to
Adjusted EBITDA(2) 2.0x to 3.0x 5.1x 3.5x – 4.0x 2.3x - 2.7x
ROIC(2) Maintain 11%
to 13%
4.0% 6% - 7% 10% - 12%
Capital
Expenditures
$45 - $55 $48 $50-$55 $45 - $55
(1) - These projections are based on the Company’s organic business targets and do not reflect the potential impacts of any merger, acquisition, divestiture or other corporate restructuring activity
(2) – See Appendix for non-GAAP definitions and reconciliations to nearest U.S. GAAP measure
$ in millions
FINANCIAL OVERVIEW

Meaningful liquidity and a history of reducing
debt levels
• Reducing Debt on Balance Sheet
• Outstanding debt at its lowest levels
since 2006
• Repaid over $55 million in debt over
the last 3 years in order to strengthen
balance sheet
• Meaningful liquidity
• Since 2015, total liquidity(1) has been
maintained over $100 million at the
end of each year
(1) – Cash on hand plus open ABL availability
$466
$413
$445 $437
$412
$388
300
350
400
450
500
2012 2013 2014 2015 2016 2017
Gross Debt by Year
$136
$113
$142 $140 $149
$117
0
50
100
150
200
2012 2013 2014 2015 2016 2017
Total Liquidity by Year
Millions ($)
Millions ($)
142
FINANCIAL OVERVIEW

Interest expense remains stable as debt
reduction and swap provide protection
• Term Loan B
• LIBOR plus 300 bps (currently
4.9%)
• Maturity 2021
• No financial covenants
• $150MM accordion option
• $100MM ABL Credit Facility
• LIBOR plus 150-200 bps
• Maturity 2022
Capital Structure
• Interest Rate Swap
• Providing interest protection in a rising
rate environment
• $220MM Fixed at 4.8575%
• Maturity 2020
$23
$18
$21 $20
0.00
0.50
1.00
1.50
2.00
0
5
10
15
20
25
30
2014 2015 2016 2017
Interest Expense vs. Federal Funds Rate
Millions ($) Fed Funds Rate %
143
FINANCIAL OVERVIEW

Libbey’s strategy delivers significant cash flow and priorities remain:
make strategic investments and reduce debt over the long term
Column1
Strategic
Investments
Maintain
Financial
Strength
Cash from
Operations(1)
2018 – 2021
$200 - $300 (MM) Investments to profitably
grow the Company
Repayment of debt will
continue to be a focus of the
Company over the long term
144
FINANCIAL OVERVIEW
(1) - These projections are based on the Company’s organic business targets and do not reflect the potential impacts
of any merger, acquisition, divestiture or other corporate restructuring activity

Libbey’s approach to capital allocation has evolved over
the last decade
145
0
20,000
40,000
60,000
80,000
100,000
120,000
2009 2010 2011 2012 2013 2014 2015 2016 2017
Uses of Cash: 2009 - 2017
Share Repurchase Dividends
Debt Paydowns Capital Expenditures
Debt
Refinancing
Debt
Refinancing
Debt
Refinancing
FINANCIAL OVERVIEW
($ in thousands)

Capital expenditure intensity is driven by
furnace and machine rebuild schedule
• 2014 – 2015 Investment in new
glass technology in
Shreveport plant
• 2016 Reduced spending
due to timing of
furnace rebuilds
• 2017 Two major furnace
rebuilds within network
• 2018 – 2021 ERP Investment,
furnace rebuilds, and
machine maintenance
to enable growth and
improve margins
0
10
20
30
40
50
60
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 -
2021
(Est.)
$17
$28
$41
$33
$49
$54
$48
$35
$48
$45-$55
Capital Expenditures$ in millions
146
FINANCIAL OVERVIEW
Some ability to flex investment when needed
Note: These projections are based on the Company’s organic business targets and do not reflect the potential impacts of any
merger, acquisition, divestiture or other corporate restructuring activity

Libbey is far overdue for a new ERP system
147
• Multiple “green screen”; non-
integrated; legacy ERP systems
• Limits the company’s ability to:
‒ Serve Customers
‒ Reduce working capital
‒ Deliver back office productivity
‒ Support E-commerce growth
• Not capable of supporting
Libbey’s future business needs
FINANCIAL OVERVIEW
• Single, modern, integrated ERP
platform:
• Enables capabilities to
‒ Increase customer satisfaction
‒ Standardize; optimize; centralize and
automate processes… productivity
‒ Improve planning to increase service
and lower working capital
• Supports profitable growth for
Libbey’s future
Current State Future State

ERP Approach
148
FINANCIAL OVERVIEW
• “Out of the Box”
– Buy the best practice and change how Libbey does things
– Customization = time and cost
• Build capabilities and momentum early…go slow to
go faster and more efficiently overall
– Starting in 2018 with building blocks and pilots
– Master Data; Plumbing to expand E-commerce
– Planning to drive larger phases and productivity

ERP Roadmap
149
FINANCIAL OVERVIEW
2018 2019 - 2021 2022
• Expect ~$8 MM mix
of SG&A and Capital
Expense
• Focus on building
foundation of talent
and technology
• Finish Deployment
• Sustain continuous
improvement
momentum
• Customer
satisfaction
• Lower SG&A
• Lower working
capital
• Manage spend within
SG&A and Capital
budgets
• Drive for early wins in
productivity and
growth capabilities
• Complete lion share
of deployment

153
Definition and reconciliation of non-GAAP measures
FY 2017 FY 2016 FY 2015 FY 2014 FY 2013 FY 2012 FY 2011 FY 2010 FY 2009 FY 2008
Net income (loss) (U.S. GAAP) (93.4)$ 10.1$ 66.3$ 5.0$ 28.5$ 7.0$ 23.6$ 70.1$ (28.8)$ (80.4)$
Add:
Interest expense 20.4$ 20.9$ 18.5$ 22.9$ 32.0$ 37.7$ 43.4$ 45.2$ 66.7$ 69.7$
Provision (benefit) for income taxes 15.8 17.7 (38.2) 8.5 13.2 5.7 1.7 11.6 2.7 6.3
Depreciation and amortization 45.5 48.5 42.7 40.4 44.0 41.5 42.2 41.1 43.2 44.4
Add: Special items before interest and taxes:
Restructuring and facility closure charges - - - 1.0 6.5 - (0.1) 2.5 3.8 29.1
Severance - - - - - 5.1 1.1 - - -
Pension curtailment and settlement charges - 0.2 21.7 0.8 2.3 4.3 - - 3.2 -
Loss (gain) on redemption of debt - - - 47.2 2.5 31.1 2.8 (58.3) - -
Abandoned property - - - - 1.8 - 2.7 - - -
Gain on sale of assets - - - - - - (6.8) - - -
Goodwill and intangible impairment charges 79.7 - - - - - - - - 11.9
Product portfolio optimization - 5.7 - - - - - - - -
Other (1)
2.5 8.5 5.3 (3.5) 5.1 - 2.5 2.8 - 4.5
Less: Accelerated depreciation expense
included in special items and also in
depreciation and amortization above - - - - (1.5) - - - (0.7) (0.3)
Adjusted EBITDA (non-GAAP) 70.6$ 111.6$ 116.3$ 122.1$ 134.4$ 132.4$ 113.1$ 115.0$ 90.1$ 85.2$
119.2$
Net sales 781.8$ 793.4$ 822.3$ 852.5$ 818.8$ 825.3$ 817.1$ 799.8$ 748.6$ 810.2$
Net income (loss) margin (U.S. GAAP) (11.9%) 1.3% 8.1% 0.6% 3.5% 0.8% 2.9% 8.8% (3.8%) (9.9%)
Adjusted EBITDA Margin (non-GAAP) 9.0% 14.1% 14.1% 14.3% 16.4% 16.0% 13.8% 14.4% 12.0% 10.5%
Reconciliation of Net Income (Loss) to Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (Adjusted EBITDA) and Adjusted EBITDA
Margin
(1) 2017 includes $2.5 million for reorganization charges. 2016 includes $4.1 million for work stoppage and $4.4 million for executive terminations. 2015 includes $4.2 million for
reorganization charges, $0.9 million for executive termination, and $0.2 million for an environmental obligation. 2014 includes $(4.7) million for furnace malfunction net proceeds, $0.9
million for executive retirement charges, and $0.3 million for an environmental obligation. 2013 includes $4.4 million of furnace malfunction charges and $0.7 million for executive
retirement charges. 2011 includes $2.7 million for CEO transition expenses, $(1.0) million for an equipment credit and an $0.8 million write-down of unutilized fixed assets. 2010
includes $2.7 million of fixed asset write-down charges, $1.0 million in expenses related to a secondary stock offering and a $(0.9) million insurance claim recovery. 2008 includes a
$4.5 million fixed asset write-down charge.
Adjusted EBITDA excludes special items that Libbey believes are not reflective of our core operating performance.

154
FY 2017 FY 2016 FY 2015 FY 2014 FY 2013 FY 2012 FY 2011 FY 2010 FY 2009 FY 2008
Adjusted EBITDA
(1)
(non-GAAP) 70.6$ 111.6$ 116.3$ 122.1$ 134.4$ 132.4$ 113.1$ 115.0$ 90.1$ 85.2$
Debt reported on balance sheet(2)
(U.S. GAAP) 384.4$ 407.8$ 431.0$ 437.9$ 402.4$ 454.2$ 390.1$ 436.6$ 512.0$ 543.5$
Plus: Unamortized discount, finance fees and warrants (2)
3.3 4.5 5.8 7.0 9.5 12.3 11.6 16.9 5.0 11.4
Less: Carrying value in excess of principal on PIK notes - - - - - - - - 70.2 -
Less: Carrying value adjustment on debt related to the Interest
Rate Agreement - - - - (1.3) 0.4 4.1 3.3 - -
Gross Debt 387.7 412.3 436.9 444.9 413.2 466.1 397.6 450.2 446.8 554.9
Less: Cash and cash equivalents 24.7 61.0 49.0 60.0 42.2 67.2 58.3 76.3 55.1 13.3
Debt net of cash 363.0$ 351.3$ 387.9$ 384.9$ 371.0$ 398.9$ 339.3$ 373.9$ 391.7$ 541.6$
Debt net of cash to Adjusted EBITDA Ratio (non-GAAP) 5.1 3.1 3.3 3.2 2.8 3.0 3.0 3.3 4.3 6.4
Computation of Adjusted EBITDA to Debt net of cash to Adjusted EBITDA Ratio and Adjusted EBITDA
(Dollars in millions)
(1) - See prior page for calculation and reconciliation to net income.
(2) - All years reflect retrospective adoption of ASU 2015-03 and 2015-15, which presents debt issuance costs of senior debt as a reduction to the liability.

155
FY 2017
Reported income from operations (53.7)$
Add: Adjustments
Goodwill Impairment 79.7$
Reorganization/ Restructuring Charges 2.5
Adjusted income from operations 28.5
Factor to apply taxes 65%
After tax adjusted income from operations 18.5$
Reported property, plant and equipment, net 265.7$
Accounts receivable 90.0
Inventories 187.9
Less: Accounts payable 78.3
Reported Trade Working Capital 199.5$
Total Invested Capital 465.2$
ROIC 4.0%
Calculation of Return on Invested Capital (ROIC)
(dollars in millions)
Definitions – Other Non-GAAP Measures
Trade Working Capital is defined as net accounts receivable plus net inventory less
accounts payable.
Return On Invested Capital (ROIC) is defined as after tax income from operations
(using a 35% tax rate), adjusted for special items, over ending Trade Working
Capital plus net book value of property, plant and equipment
Constant currency references regarding net sales reflect a simple mathematical
translation of local currency results using the comparable prior period’s currency
conversion rate. Constant currency references regarding Segment EBIT, Adjusted
EBITDA and Adjusted EBITDA Margin comprise a simple mathematical translation
of local currency results using the comparable prior period’s currency conversion
rate plus the transactional impact of changes in exchange rates from revenues,
expenses and assets and liabilities that are denominated in a currency other than
the functional currency. Our currency market risks include currency fluctuations
relative to the U.S. dollar, Canadian dollar, Mexican peso, euro and RMB.
Free Cash Flow is defined as net cash provided by operating activities plus net
cash provided by (used in) investing activities.

This presentation is being shared by Libbey Inc. (the “Company”) for informational purposes only and is not, and may not be relied on in any manner as, legal, tax, investment,
accounting or other advice. This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act, Section 21E of the Securities Exchange
Act of 1934 and the Private Securities Litigation (Reform Act of 1995, that involve a number of risks and uncertainties. These statements relate to future events, the Company’s
future financial performance with respect to the Company’s financial condition, results of operations, business plans and strategies, operating efficiencies or synergies, competitive
positions, growth opportunities for existing products, plans and objectives of the Company’s management, capital expenditures and other matters. These statements involve known
and unknown risks, significant uncertainties and other factors (many of which are beyond the control of the Company) that may cause the Company or the Company’s industry’s
actual results, levels of activity, performance or achievements to be materially different from those expressed or implied by any forward-looking statements. In some cases, you can
identify forward-looking statements by terminology such as “may”, “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” “believe,” “estimate,” “predict,”
“potential,” “pro forma,” “seek” or “continue” or the negative of those terms or other comparable terminology. These statements are only predictions and actual results may differ
from predictions and such differences may be material. Any forward-looking statements that we make in this presentation speak only as of the date this presentation is given, and
we undertake no obligation to update such statements. Comparisons of results for current and any prior periods are not intended to express any future trends or indications of
future performance, unless expressed as such, and should only be viewed as historical data.
Although we base these forward-looking statements on assumptions that we believe are reasonable when made, we caution you that forward-looking statements are not
guarantees of future performance and that our actual results of operations, financial condition, liquidity, prospects, growth, strategies, position in the market and the development
of the industry in which we operate may differ materially from those described in or suggested by the forward-looking statements contained in this presentation. In addition, even if
our results of operations, financial condition, liquidity, prospects, growth, strategies, position in the market and the development of the industry in which we operate are consistent
with the forward-looking statements contained in this presentation, those results or developments may not be indicative of results or developments in subsequent periods. Given
these risks and uncertainties, you are cautioned not to place undue reliance on these forward-looking statements.
The Company advises you that in the normal course of its business it evaluates potential strategic opportunities that may be available from time to time, including acquisitions,
dispositions, mergers, private equity financings and other corporate transactions. The Company’s evaluation of such opportunities may involve discussions and negotiations with
interested parties concerning the proposed terms and conditions of a potential transaction. As a matter of policy, the Company does not comment on such matters unless
negotiations with interested parties have advanced to the point where they would be material to a reasonable investor and the Company is legally obligated to disclose such
negotiations.
This presentation and today’s prepared remarks contain non-GAAP financial measures. We believe that the Adjusted Earnings Before Interest Taxes Depreciation and Amortization,
or Adjusted EBITDA; Adjusted EBITDA margin; Trade Working Capital; Debt, net of cash to Adjusted EBITDA; and references to sales in constant currency are meaningful measures for
investors to compare our results from period to period. Reconciliations of the non-GAAP to GAAP measures may be found in the Appendix of this presentation as well as in the
earnings press release and the supplemental financials.
This presentation also contains estimates and other statistical data made by independent parties and by the Company relating to market size and growth and other industry data.
These data involve a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates. The Company has not independently verified the
statistical and other industry data generated by independent parties and contained in this presentation and, accordingly, it cannot guarantee their accuracy or completeness. In
addition, projections, assumptions and estimates of its future performance and the future performance of the industries in which it operates are necessarily subject to a high degree
of uncertainty and risk due to a variety of factors.
157

Final to printer3 2018 investor day

Recommended

Recommended

More Related Content

What's hot

What's hot (19)

Similar to Final to printer3 2018 investor day

Similar to Final to printer3 2018 investor day (20)

Recently uploaded

Recently uploaded (20)

Final to printer3 2018 investor day