Ms. Linda Hasenfratz reports

Q2 2023 ANOTHER STELLAR QUARTER AT LINAMAR WITH EXCEPTIONAL EARNINGS GROWTH, RECORD REVENUES AND CONTINUED FREE CASH FLOW

Linamar Corp. has released second quarter 2023 results:

• Normalized earnings per share (1) up 55.4 per cent;
• Sales up 28.8 per cent to $2.55-billion, a new record for a quarter;
• Diversified strategy validated with industrial earnings tripling over prior year, anchoring solid overall performance;
• Normalized operating earnings (1) up 54.7 per cent;
• New business wins take launch book to nearly $4.5-billion;
• 58 per cent of wins for electrified vehicles;
• Sales up 54.0 per cent for industrial due to strong markets in both agricultural and access equipment and solid market share growth notably in its core agricultural products;
• Sales up 20.2 per cent for mobility driven largely by launching programs;
• Acquisition of Dura Shiloh's battery enclosure business closed and will drive strong battery electric vehicle CPV growth;
• Linamar structures group created to drive rapidly growing propulsion agnostic business;
• Propulsion agnostic and electrified vehicle sales nearly 60 per cent of mobility footprint inside of next four years.

"Q2 was another exceptional quarter of excellent earnings growth, sales growth and market share growth. Our industrial business had another particularly strong quarter, evidence our diversified growth strategy is producing the consistent sustainable earnings we target," said Linamar executive chair and chief executive officer Linda Hasenfratz. "Our recently announced acquisition of three battery enclosure facilities from Dura Shiloh is now closed, and joins our growing Linamar structures group, focused on propulsion agnostic and EV business. Propulsion agnostic and electrified vehicle sales are now representing nearly 60 per cent of booked business in 2027, and we continue to focus on growing that weighting. It is incredible how our mobility business has been transformed in just a few years. Two thousand twenty-three is proving to be an exceptional year for us at Linamar. We are positioned for record double-digit top-line growth and double-digit bottom-line growth."

Dividends

The board of directors today declared an eligible dividend in respect of the quarter ended June 30, 2023, of 22 cents per share on the common shares of the company, payable on or after Sept. 8, 2023, to shareholders of record on Aug. 22, 2023.

(1) Operating earnings (loss) -- normalized, net earnings (loss) -- normalized, net earnings (loss) per share -- diluted -- normalized -- and free cash flow are non-generally accepted accounting principle financial measures.

Conference call information

Q2 2023 release information

Linamar will hold a webcast call on Aug. 9, 2023, at 5 p.m. ET, to discuss its second quarter results. The event will be simulcast and can also be navigated to on the company's website. For those who wish to listen to an audio-only call-in option, the numbers for this call are: 1-888-396-8049 (North America) or 1-416-764-8646 (international), conference ID: 73928638, with a call-in required 15 minutes prior to the start of the webcast. The conference call will be chaired by Ms. Hasenfratz. A copy of the company's quarterly financial statements, including management's discussion and analysis, will be available on the company's website after 4 p.m. ET on Aug. 9, 2023, and at SEDAR+ by the start of business on Aug. 10, 2023. The webcast replay will be available at the Linamar website after the call. A taped replay of the conference call will also be made available starting at 8 p.m. ET on Aug. 9, 2023, for seven days. The number for the replay is 1-877-674-7070 or 1-416-764-8692, passcode: 928638 followed by the number sign. In addition, a recording of the call will be posted at the Linamar website.

Third quarter 2023 release information

Linamar will hold a webcast call on Nov. 8, 2023, at 5 p.m. ET, to discuss its third quarter results. The event will be simulcast and will be available at the company's website. For those who wish to listen to an audio-only call-in option, the numbers for this call are: 1-888-396-8049 (North America) or 1-416-764-8646 (international), conference ID: 20767152, with a call-in required 15 minutes prior to the start of the webcast. The conference call will be chaired by Ms. Hasenfratz. A copy of the company's quarterly financial statements, including management's discussion and analysis, will be available on the company's website after 4 p.m. ET on Nov. 8, 2023, and at SEDAR+ by the start of business on Nov. 9, 2023. The webcast replay will be available at the Linamar website after the call. A taped replay of the conference call will also be made available starting at 8 p.m. ET on Nov. 8, 2023, for seven days. The number for the replay is 1-877-674-7070 or 1-416-764-8692, passcode: 767152 followed by the number sign. In addition, a recording of the call will be posted 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.

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