An anonymous director reports

MAGNA ANNOUNCES SPECIFIC SHARE REPURCHASE PROGRAM AS PART OF NORMAL COURSE ISSUER BID

The Toronto Stock Exchange has accepted Magna International Inc.'s amended notice of intention to make a normal course issuer bid. The notice has been amended to permit the purchase by Magna of its common shares pursuant to issuer bid exemption orders issued by securities regulatory authorities in connection with specific share repurchase programs.

Magna also announced that it intends to purchase for cancellation up to 1.5 million common shares under a specific share repurchase program. The program forms part of the company's current normal course issuer bid for up to 38 million common shares, and all purchases will be made in accordance with the TSX rules applicable to the NCIB, subject to limited exceptions as provided in an issuer bid exemption order issued by the Ontario Securities Commission.

In connection with the program, Magna has entered into an agreement with a third party to purchase Magna common shares through transactions that may take place on any trading day between March 22, 2017, and March 31, 2017. Under the program:

• An aggregate maximum of 1.5 million common shares can be purchased.
• Purchases on any one day must not exceed the daily limit under Magna's normal course issuer bid.
• The price paid by Magna in any transaction will be at a discount to the volume-weighted average trading price of the common shares on the Canadian markets on that date.
• Magna cannot purchase any other common shares under the NCIB during the program term.
• No purchases will be made during any trading blackout imposed by Magna.
• All common shares purchased by Magna will be cancelled.
• Following completion of the program, Magna will disclose on the System for Electronic Document Analysis and Retrieval (SEDAR) information regarding the number of common shares purchased and the aggregate price paid.

In accordance with the terms of the agreement and the order, on any date that Magna purchases common shares from the third party or its agents, the third party or its agents must purchase the same number of common shares on Canadian markets.

Magna International Inc.'s business

Magna International is a leading global automotive supplier with 317 manufacturing operations, and 102 product development, engineering and sales centres in 29 countries. Magna has over 155,000 employees focused on delivering superior value to its customers through innovative products and processes, and world-class manufacturing. It has complete vehicle engineering and contract manufacturing expertise, as well as product capabilities which include body, chassis, exterior, seating, powertrain, active driver assistance, vision, closure and roof systems, and has electronic and software capabilities across many of these areas.

We seek Safe Harbor.