Libbey Inc.

Q2 2017 Earnings Call

August 1, 2017

Management on Today’s Call

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Jim BurmeisterVice President, Chief Financial Officer

Bill FoleyChairman and Chief Executive Officer

Joe HuhnVice President, Financial Planning & Analysis

and Investor Relations

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, 2016, filed on March 3, 2017 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 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 within the earnings press release and the supplemental financials.

Cautionary Statement

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� Challenging conditions persisted through the first half of 2017

– Shift from brick and mortar retail to on-line commerce continues to accelerate

– U.S. foodservice traffic down 3.1%(1) in Q2… growth in dinnerware and flatware offsets traffic decline

– Strong global price competition across industry affecting all channels

� Completion of furnace rebuild in Holland sets stage for improvements in EMEA

� U.S. e-commerce capabilities that were started in February became operational in mid-July

� New product development on track… 354 new products launched at National Restaurant Association Show in May

Q2 2017 Highlights

3(1) – Source: Black Box

Strengthened marketing capabilities deliver market focused products

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Urban Story Collection• Serveware,

beverageware & storage

• Insight-driven and multi-functional assortment

• Taps into an expressed need for practical yet beautiful items, reflecting the joy to be found in simplicity

• Millennials are the targeted audience

Unique Innovation: Launched Constellation™collection with Microban® technology

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• 3 collections, plus Universal Accessories – over 60 new items

• Built-in Microban® technology eliminates 99.9% of microbial growth on the surface of the dinnerware

• Provides an extra layer of protection that supports sanitation and hygiene

Key Financial DataQ2 ‘16 & ’17 and YTD ‘16 & ‘17

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Unaudited

$ in millions, except per share data '17 '16 VPY '17 '16 VPY

Net sales 197.5$ 207.9$ (10.4)$ 370.5$ 390.7$ (20.2)$

Gross profit 40.8$ 50.4$ (9.6)$ 71.1$ 90.4$ (19.3)$

Gross profit margin 20.6% 24.2% (3.6%) 19.2% 23.1% (3.9%)

Selling, general & administrative expenses 33.7$ 30.7$ 3.0$ 66.7$ 64.8$ 1.9$

Net income (loss) (0.8)$ 8.7$ (9.5)$ (7.4)$ 9.4$ (16.8)$

Net income (loss) margin (0.4%) 4.2% (4.6%) (2.0%) 2.4% (4.4%)

Diluted EPS (0.04)$ 0.40$ (0.44)$ (0.34)$ 0.43$ (0.77)$

Adjusted EBITDA (1)(2)

20.2$ 40.6$ (20.4)$ 26.4$ 63.4$ (37.0)$

Adjusted EBITDA margin(1)(2)

10.2% 19.5% (9.3%) 7.1% 16.2% (9.1%)

Unaudited

$ in millions, except ratio

June 30,

2017

June 30,

2016 VPY

Trade Working Capital (1)(2)

202.4$ 219.4$ (17.0)$

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

5.0 x 3.0 x 2.0 x

Second Quarter First Six Months

(1) See the Appendix for definitions of non-GAAP measures.

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

(2)See our second quarter 2017 press release filed on form 8-K on August 1, 2017, for reconciliations of Adjusted EBITDA, Adjusted EBITDA

Q2 ’17 Net Sales of $197.5 vs. $207.9 in Q2 ‘16

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$125.1 $121.9

($3.0) $0.2 ($0.4)

$100

$105

$110

$115

$120

$125

$130

Q2 '16

Net Sales

Retail Food

Service

B2B Q2 '17

Net Sales

$ in millionsU.S. & Canada

$40.6

$36.5

($3.6) ($0.4)

($0.2)

$20

$25

$30

$35

$40

$45

Q2 '16

Net Sales

Retail Food

Service

B2B Q2 '17

Net Sales

Other$32.7

$31.1 $33.0 ($1.6) $1.9

$20$22$24$26$28$30$32$34

Q2 '16

Net Sales

Sales

Decline

Q2 '17

Reported

Net Sales

Currency Q2 '17

Constant

Currency

Net Sales

EMEA

Latin America

$9.5 $8.1

($1.4)

$0

$2

$4

$6

$8

$10

Q2 '16

Net Sales

Sales Decline Q2 '17

Reported

Net Sales

*See our second quarter 2017 press release for a reconciliation of constant currency net sales to its U.S. GAAP measure.

Adjusted EBITDA Walks

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$40.6

$20.2

($9.3)

($7.8)

($1.0) ($0.3) ($2.0)

$0

$10

$20

$30

$40

$50

Q2 '16

Adjusted EBITDA

Manufacturing

Activity

Sales & Margins SGA Currency Other Q2 '17

Adjusted EBITDA

$ in millions

Q2 vs. PY Adjusted EBITDA Walk

1H vs. PY Adjusted EBITDA Walk

$63.4

$26.4

($14.9)

($11.1)

($5.3)($2.3) ($3.4)

$0

$20

$40

$60

$80

1H '16

Adjusted EBITDA

Manufacturing

Activity

Sales & Margins SGA Currency Other 1H '17

Adjusted EBITDA

*See our second quarter 2017 press release filed on form 8-K on August 1, 2017, for a reconciliation of Adjusted EBITDA

to net income (loss).

Outlook for 2nd Half and Full Year 2017

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� 2nd half improvements driven by

– Furnace rebuilds completed in 1st half… both Mexico and Holland assets are up and running well, capacity reduced in Holland

– Recent pricing actions in Latin America are beginning to take hold

– Improved profitability in EMEA post furnace realignment, increasing as progress is made in portfolio shift

– Beginning contributions of new products and e-commerce

� Full year Adjusted EBITDA near low end of previous guidance given 1st half results and persistent market conditions

– Full year net sales expected to decline low-to-mid single digits vs. 2016

– Full year Adjusted EBITDA margins expected to be near 11%

– Capital expenditures at or below $50 million

Q&A

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Appendix of Non-GAAP Definitions

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� 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 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 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.

Additional Information

NYSE MKT: LBY

Alpha IR Group

Chris Hodges & Sam Gibbons

312-445-2870

email: LBY@alpha-ir.com

visit our website: www.libbey.com