OI OI Glass Inc

On May 9, 2022, O-I Canada Corp. (“O-I Canada”), an indirect wholly owned subsidiary of O-I Glass, Inc. (the “Company”), completed a sale and leaseback transaction with an affiliate of Crestpoint Real Estate Investments Ltd. (“Crestpoint”), pursuant to which such affiliate purchased O-I Canada’s plant in Brampton, Ontario, Canada for a purchase price of CAD $244 million (approximately USD $191 million).

In connection with this transaction, O-I Canada, as tenant, and the Company, as a guarantor, entered into a lease with Crestpoint’s affiliate to lease the Brampton, Ontario plant for an initial term of 10 years. The lease requires O-I Canada to make base rent payments of approximately CAD $9.3 million (USD $7.3 million) in the first year, gradually increasing to approximately CAD $11.6 million (USD $9.1 million) in the tenth year. O-I Canada, in its discretion, has the option to extend the lease for up to 13 additional years, via two options to extend for an additional five years each along with a third option to extend for an additional three years. O-I Canada also has the right to terminate the lease during the initial term at no cost as early as May 9, 2029, subject to O-I Canada providing the required advance notice. Crestpoint has placed CAD $5 million (approximately USD $4 million) in an escrow account for the benefit of O-I Canada for the purposes of making future repairs to the property after closing, which amount is separate from and in addition to the purchase price paid pursuant to the acquisition.

On May 12, 2022, the Company issued a press release announcing the completion of this sale and leaseback transaction. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

The information set forth in this Item 7.01, including Exhibit 99.1, is being furnished and shall not be deemed “filed” for purposes of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section. The information in this Item 7.01, including Exhibit 99.1, shall not be incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.