1.

Libbey Inc. Q4 & FY 2018 Earnings Call

February 21, 2019

2.

Management on Today’s Call

Jim Burmeister Senior Vice President, Chief Financial Officer

Bill Foley Chairman and Chief Executive Officer

Mike Lindsey Vice President, Corporate Controller

3.

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 audit. 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; Adjusted Selling, General and Administrative expense; and references to financial measures 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 within the earnings press release and the supplemental financials.

4.

($ in millions)

Net Sales Y-O-Y Change Y-O-Y Constant Currency (1)

$211.6 (5.5 %) (4.4 %)

$797.9 2.1 % 1.5 %

Adjusted EBITDA(2)

Y-O-Y Change Y-O-Y Constant Currency (1)

$16.2 (33.0 %) (25.7 %)

$71.0 0.5 % 0.3 %

Fourth Quarter

2018

2018 Fourth-quarter Highlights

Continued execution of Creating Momentum Strategy during an erratic foodservice market environment

New products drove approximately $15.9MM of sales, or 7.5% of net sales

E-commerce sales represented approximately 13.0% of total U.S. & Canada retail sales; an increase of 29% versus prior year

On-time and in-full (OTIF) remained strong ~90%

(1) See the Appendix for definitions of non-GAAP constant currency measures. (2) See our fourth-quarter 2018 press release filed on form 8-K on February 20, 2019, for reconciliations of Adjusted EBITDA to the most directly comparable

U.S. GAAP measure.

Fiscal Year 2018

5.

Ambiente - Global Consumer Goods Fair EMEA team introduced around 200 new shapes, including a refreshed

product portfolio

Innovative products remain a staple with additions to the high-end glass market as well as designs contributed by participants in the Libbey-sponsored Glassology® contest

Customers remain pleased with our commitment to new products and innovation

6.

Fourth-quarter Progress in E-commerce

12 products launched online in Q4; 460+ total available

13.0% of U.S. & Canada retail sales, 29% increase over prior year

Direct fulfillment capability being adopted by brick-and-mortar customers

Expect to add three more distribution locations in U.S. & Canada to reduce “last-mile” freight

Launching e-commerce capability into Western Europe and expanding content library to support U.S. foodservice

7.

Key Financial Data Fourth Quarter ‘18 & ’17 and Full Year ‘18 & ‘17

(1) See the Appendix for definitions of non-GAAP measures. (2) See our fourth-quarter 2018 press release filed on form 8-K on February 20, 2019, for reconciliations of Adjusted EBITDA, Adjusted EBITDA Margin, Trade

Working Capital and Debt, net of cash to Adjusted EBITDA ratio to the most directly comparable U.S. GAAP measure.

Unaudited

$ in millions, except per share data '18 '17 VPY '18 '17 VPY

Net sales 211.6$ 224.0$ (12.4)$ 797.9$ 781.8$ 16.1$

Gross profit 37.5$ 43.4$ (5.9)$ 154.9$ 154.0$ 0.9$

Gross profit margin 17.7% 19.4% (1.7%) 19.4% 19.7% (0.3%)

Selling, general & administrative expenses 29.5$ 29.3$ 0.2$ 127.9$ 126.3$ 1.6$

Net income (loss) (4.0)$ (7.2)$ 3.2$ (8.0)$ (93.4)$ 85.4$

Net income (loss) margin (1.9%) (3.2%) 1.3% (1.0%) (11.9%) 10.9%

Diluted EPS (0.18)$ (0.32)$ 0.14$ (0.36)$ (4.24)$ 3.88$

Adjusted EBITDA (1)(2)

(non-GAAP) 16.2$ 24.2$ (8.0)$ 71.0$ 70.6$ 0.4$

Adjusted EBITDA margin(1)(2)

(non-GAAP) 7.7% 10.8% (3.1%) 8.9% 9.0% (0.1%)

Unaudited

$ in millions, except ratio

December

31, 2018

September

30, 2018

December

31, 2017

Trade Working Capital (1)(2)

(non-GAAP) 201.2$ 228.7$ 199.5$

Debt, net of cash to Adjusted EBITDA ratio (1)(2)

(non-GAAP) 5.3 x 5.0 x 5.1 x

Fourth Quarter Full Year

8.

Q4 2018 Net Sales of $211.6 vs. $224.0 in Q4 2017 $ in millions U.S. & Canada

Other EMEA

Latin America

$7.1 $6.9 ($0.2)

$0

$5

$10

Q4 '17 Net Sales Sales Decline Q4 '18 Net Sales

$36.8 $34.7

($0.3) ($0.9) ($0.9)

$25

$30

$35

$40

Q4 '17 NetSales

Retail Foodservice B2B Q4 '18 NetSales

$41.8 $38.1

($0.5) $0.3 ($3.5)

$20

$30

$40

$50

Q4 '17 NetSales

Retail Foodservice B2B Q4 '18 NetSales

$138.3

$132.0

($0.3) ($7.1)

$1.1

$120

$130

$140

$150

Q4 '17 NetSales

Retail Foodservice B2B Q4 '18 NetSales

9.

Full-year 2018 Net Sales of $797.9 vs. $781.8 in 2017 $ in millions U.S. & Canada

Other EMEA

Latin America

$28.8 $27.6

($1.2)

$20

$25

$30

2017 Net Sales Sales Decline 2018 Net Sales

$126.9

$138.4

$4.6 $2.7

$4.2

$115

$125

$135

$145

2017 NetSales

Retail Foodservice B2B 2018 NetSales

$144.3 $148.1 $3.5 $0.3 ($0.0)

$125

$135

$145

$155

2017 NetSales

Retail Foodservice B2B 2018 NetSales

$481.8 $483.7 $0.4 ($3.0) $4.5

$460

$470

$480

$490

2017 NetSales

Retail Foodservice B2B 2018 NetSales

10.

$70.6 $71.0

$14.5 $0.1 ($11.3)

($2.8) ($0.1)

$60.0

$70.0

$80.0

$90.0

Prior Year Impact of Sales Currency Operating Activity Benefits Other Adjusted EBITDA

2018 Adjusted EBITDA vs. Prior Year $MM

$24.2

$16.2

($1.2) ($1.8)

($3.0)

($1.4) ($0.6)

15.0

20.0

25.0

30.0

Prior Year Impact of Sales Currency Operating Activity Benefits Other Adjusted EBITDA

Q4 '18 QTD Adjusted EBITDA vs. Prior Year $MM

Adjusted EBITDA(1) Walk $ in millions

Downtime ($3.6MM) Store and Ship ($0.9MM) Other Operating $3.1MM

Downtime ($7.5MM) Store and Ship ($6.6MM) Other Operating $2.8MM

(1) See our fourth-quarter 2018 press release filed on form 8-K on February 20, 2019, for a reconciliation of Adjusted EBITDA to net income (loss)

$ in millions

Includes higher Utility Costs ($1.7MM)

11.

Outlook for Full-year 2019

We believe that our strategic plan is right for our long-term success

– Macro-economic uncertainty reinforces our commercial and manufacturing strategic actions

– Continue to grow our leadership position in the global glassware and housewares industry

– Anticipate continued volatility in our economic environment in the first half of 2019

12.

Expected Full-year 2019 Targets

Net Sales increase in the low-single digits, compared to 2018

Adjusted EBITDA margin(1) between 8.5%-10%

Capital Expenditures in the range of $35 - $40 million

SG&A ~16% of net sales

(1) See our fourth-quarter 2018 press release filed on form 8-K on February 20, 2019, for a reconciliation of Net Income Margin to Adjusted EBITDA Margin.

13.

We remain committed to our Creating Momentum Strategy

Success will depend on our ability to consistently adapt and develop differentiated product offerings

Leverage e-commerce platform for growth

Continue to seek opportunities to achieve long-term goal of having new products make up 8-9% of global net sales

Entering 2019 with expectations to stay on track with long-term financial goals

14.

Q&A

15.

Appendix of Non-GAAP Definitions Adjusted EBITDA and Adjusted EBITDA Margin

‒ U.S. GAAP net income (loss) plus interest expense, provision for income taxes, depreciation and amortization, and special items, when applicable, that Libbey believes are not reflective of our core operating performance

Adjusted SG&A and Adjusted SG&A Margin ‒ U.S. GAAP selling, general and administrative expenses less special items that Libbey believes are not reflective

of our core operating performance

Trade Working Capital ‒ Net accounts receivable plus net inventories less accounts payable

Debt, Net of Cash to Adjusted EBITDA Ratio ‒ Gross debt before unamortized discount and finance fees, less cash and cash equivalents, divided by last twelve

months Adjusted EBITDA (defined above)

Constant Currency ‒ 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 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

16.

Additional Information

NYSE American: LBY

Alpha IR Group

Bobby Winters or Chris Hodges

312-445-2870

email: LBY@alpha-ir.com

visit our website: www.libbey.com