Mr. Louis Tonelli reports

MAGNA ANNOUNCES SENIOR NOTES OFFERING

Magna International Inc. has entered into an underwriting agreement providing for the issuance of 600-million-euro aggregate principal amount of its senior unsecured notes pursuant to an effective shelf registration statement previously filed with the Securities and Exchange Commission and a short-form base-shelf prospectus and prospectus supplement filed with the Ontario Securities Commission.

The notes will bear interest at an annual rate of 1.5 per cent and will mature on Sept. 25, 2027. The offering is expected to close on Sept. 25, 2017, subject to customary closing conditions. Magna intends to use the net proceeds from the offering for general corporate purposes.

BNP Paribas, Merrill Lynch International, ING Bank NV and Citigroup Global Markets Ltd. are acting as joint bookrunning managers for the offering.

The notes are not being qualified for distribution in Canada.

The offering of these securities may be made only by means of a prospectus supplement and accompanying prospectus. Copies of the prospectus supplement and the accompanying prospectus can be obtained for free by visiting EDGAR on the SEC's website, or from BNP Paribas, 10 Harewood Ave., London, NW1 6AA, United Kingdom, Attention: Fixed income syndicate, telephone number: 44-0-20-7595-8222, toll-free: 1-800-854-5674, fax: 44-0-20-7595-2555; Merrill Lynch International, 222 Broadway, New York, N.Y., 10038, Attention: Prospectus department, dg.prospectus_requests@baml.com; ING Bank NV, Foppingadreef 7 1102 BD, Amsterdam, The Netherlands, telephone number: 31-20-563-8035; Citigroup Global Markets Ltd. c/o Broadridge Financial Solutions, 1155 Long Island Ave., Edgewood, N.Y., 11717, toll-free 1-800-831-9146, prospectus@citi.com.

About Magna International Inc.

Magna is a leading global automotive supplier with 327 manufacturing operations, and 100 product development, engineering and sales centres in 29 countries. It has over 161,000 employees focused on delivering superior value to its customers through innovative products and processes, and world-class manufacturing. The company 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 system, and has electronic and software capabilities across many of these areas.