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            Our Strategy and Capital Allocation Framework | Corning

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            Corning’s Strategy and Growth Framework

            Our Strategy and Growth Framework

            The Strategy and Growth Framework outlines our priorities for 2020-2023. It is aligned with the Strategy and Capital Allocation Framework that we introduced in October 2015, which provided guiding principles for 2016-2019. Under the Strategy and Growth Framework, we expect to deliver 6% to 8% compound annual sales growth and 12% to 15% compound annual earnings growth. We also plan to expand our operating margin and ROIC, and deliver $8 to $10 billion to shareholders, including annual dividend per share increases of greater than 10%.?

            Focused Portfolio Strategy

            The Framework is built on a core leadership philosophy of:

            • Operating our businesses exceptionally well?
            • Investing to capture profitable growth opportunities that align with our focused portfolio
            • De-risking investments through customer commitments
            • Distributing cash to shareholders

            Under the Strategy and Capital Allocation Framework, we created significant value. We committed to generate more than $26 billion in cash, return more than $12.5 billion to our shareholders through repurchases and dividends, and invest $10 billion to extend our leadership and deliver growth – and we have done exactly what we said we would do. Our strong execution has created a much bigger and stronger Corning.

            The new Strategy and Growth Framework defines our leadership priorities through 2023.? It’s our original Framework evolved for a new growth era.

            Read more about the Framework below or visit our Investor Relations website >

            Focusing Our Portfolio

            Focused Portfolio Strategy

            The Framework focuses our portfolio on a set of reinforcing capabilities with strong interconnections. We are best-in-the-world in three core technologies, four manufacturing and engineering platforms, and five market-access platforms. Corning directs 80 percent or more of our resources to opportunities that draw from at least two of these capabilities sets. We believe this approach increases our likelihood of success, reduces the cost of innovation, creates higher barriers to entry for our competitors, and ultimately delights our customers.

            “The core of what we do is invent, make, and sell,” said Wendell P. Weeks, chairman and chief executive officer. “We create value by inventing category-defining products, developing scalable manufacturing platforms, and building strong, trust-based relationships with customers who are leaders in their industries.”

            ?

            Three Core Technologies

            Three Core Technologies

            Corning’s unparalleled expertise in materials science allows us to collaborate closely with customers to solve tough technology problems.

            Glass Science

            Glass Science

            Glass Science

            Deep research, relentless experimentation, and constant innovation help improve scientists’ understanding of the fundamental nature of glass to offer glass-based solutions to some of the industry’s toughest problems.

            Deep research, relentless experimentation, and constant innovation help improve scientists’ understanding of the fundamental nature of glass to offer glass-based solutions to some of the industry’s toughest problems.

            Ceramic Science

            Ceramic Science

            Ceramic Science

            Ceramics might be thought of as the close cousin of glass. With the right composition and forming, both can be extremely hard and resistant to thermal shock, suitable for use in harsh environments like outer space.

            Ceramics might be thought of as the close cousin of glass. With the right composition and forming, both can be extremely hard and resistant to thermal shock, suitable for use in harsh environments like outer space.

            Optical Physics Fibrance

            Optical Physics

            Optical Physics

            Optical physics has a natural pairing with glass technology since the successful performance of so many advanced glass applications depend on the way they transmit, process, or manipulate light.

            Optical physics has a natural pairing with glass technology since the successful performance of so many advanced glass applications depend on the way they transmit, process, or manipulate light.

            Four Manufacturing and Engineering Platforms

            Four Manufacturing and Engineering Platforms

            Corning uses our manufacturing and engineering platforms?to reapply talents, repurpose assets, and yield innovations that give us our competitive advantage.

            Five Market-Access Platforms

            Five Market-Access Platforms

            Corning is a leader and innovator in?five key market-access platforms. We maintain deep, trust-based relationships in these industries. Our markets and products are constantly evolving, but we always participate in industries that are tied to significant growth trends.

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