Ms. Linda Hasenfratz reports

LINAMAR ANNOUNCES CLOSING OF DURA BATTERY ENCLOSURES BUSINESS

Linamar Corp. has completed its acquisition of three Dura-Shiloh battery enclosure facilities. The acquisition was previously announced on May 30 and had been subject to customary regulatory approval and other closing conditions. Those preclosing hurdles have all been finalized, and the transaction closed as of Aug. 3. Each site manufactures advanced battery enclosures for battery electric vehicle (BEV) applications.

The three sites, previously owned by Dura-Shiloh, are located in North Macedonia, Czechia and Alabama, United States, and join the newly formed Linamar structures operating group.

Linda Hasenfratz, Linamar executive chair and chief executive officer, commented, "We are excited to complete this acquisition, a further step forward in Linamar's transition towards an electrified mobility world, bolstering our growing structures and chassis business portfolio."

Linamar management will provide further insights into the strategic rationale and details of the transaction during its coming second quarter 2023 earnings conference call to be held on Wednesday, Aug. 9, at 5 p.m. ET. Details for the Q2 earnings call can be found at the Linamar website.

Linamar (Toronto Stock Exchange: LNR) is an advanced manufacturing company where the intersection of leading-edge technology and deep manufacturing expertise is creating solutions that power vehicles, motion, work and lives for the future. The company is made up of two operating segments: the industrial segment and the mobility segment, both global leaders in manufacturing solutions and world-class developers of highly engineered products.

The industrial segment is composed of Skyjack, MacDon and Salford. Skyjack manufactures scissor, boom and telehandler lifts for the aerial work platform industry. MacDon manufactures combine draper headers and self-propelled windrowers for the agricultural harvesting industry. Salford also supplies the agriculture market with farm tillage and crop fertilizer applicator equipment.

The mobility segment is focused on propulsion systems, structural and chassis systems, energy storage, and power generation for both the global electrified and traditionally powered vehicle markets, and is subdivided into three regional groups and one global product group: North America, Europe, Asia Pacific and the newly formed structures group. The regional mobility groups are vertically integrated operations combining expertise in light metal casting, forging, machining and assembly. The Linamar structures group offers competitive lightweight innovations for safety-critical components and systems for the global mobility market. In addition, the eLIN product solutions group focuses on electrification, and McLaren engineering provides design, development and testing services for the mobility segment. Linamar's medical solutions group, Linamar medtech, focuses on manufacturing solutions for medical devices and precision medical components. Linamar has over 31,000 employees in 69 manufacturing locations, 14 research and development centres, and 28 sales offices in 19 countries in North and South America, Europe, and Asia, which generated sales of more than $7.9-billion in 2022.