Ms. Linda Hasenfratz reports

LINAMAR DELIVERS ANOTHER QUARTER OF DOUBLE DIGIT TOP AND BOTTOM LINE GROWTH FOR Q3 2023, FURTHER DIVERSIFIES PORTFOLIO

Linamar Corp. has released its results for the third quarter of 2023.

Strong financial performance

• Sales up 16.0 per cent to $2.43-billion;
• Normalized operating earnings up 19.0 per cent;
• Normalized earnings per share up 15.7 per cent.

Diversified strategy success

• Diversified strategy validated with industrial earnings up 64 per cent over the prior year, anchoring solid overall performance;
• Acquisition of Mobex chassis and suspension business closed and will drive strong propulsion-agnostic growth.

New business

• New business wins take launch book to nearly $3.7-billion;
• 74 per cent of mobility wins are for either propulsion agnostic components or electrified vehicles;
• 57 per cent of mobility wins for electrified vehicles;
• Propulsion agnostic and electrified vehicle sales at nearly 60 per cent of booked light vehicle sales inside of next four years.

Double-digit sales growth in both segments

• Sales up 26.8 per cent for industrial due to solid market share growth for certain targeted products and regions in both agricultural and access equipment;
• Sales up 12.3 per cent for mobility driven largely by launching programs and sales from the company's Dura-Shiloh battery enclosures business acquisition;
• North American and European content per vehicle hit new record levels reflective of continued market share growth.

"Q3 was another exceptional quarter of excellent double-digit earnings growth, double-digit sales growth and market share growth, and we are well on track to achieve double-digit growth for the full year. Success in our core business is being enhanced with continued focus on acquisitions to diversify and expand our product portfolio, our Mobex deal being the latest example of that," said Linamar executive chair and chief executive officer Linda Hasenfratz. "Mobex takes our newly formed Linamar Structures Group to more than $1-billion in annual sales, providing excellent opportunities for further growth in propulsion agnostic and electrified vehicle programs, sales for which are now representing nearly 60 per cent of booked light vehicle sales inside of the next four years."

Dividends

The board of directors today declared an eligible dividend in respect to the quarter ended Sept. 30, 2023, of 22 cents per share on the common shares of the company, payable on or after Dec. 1, 2023, to shareholders of record on Nov. 21, 2023.

Conference call information

Q3 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 can be accessed 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 Linda Hasenfratz, Linamar's executive chair and chief executive officer. A copy of the company's quarterly financial statements, including the 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 company 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, pass code: 767152 followed by the pound key. In addition, a recording of the call will be posted at the Linamar website.

Q4 2023 release information

Linamar will hold a webcast call on March 6, 2024, at 5 p.m. ET to discuss its third quarter results. The event will be simulcast and can be accessed at the Linamar website 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 1-888 259-6580 (North America) or 1-416 764-8624 (international), conference ID 11859424, with a call-in required 15 minutes prior to the start of the webcast. The conference call will be chaired by Linda Hasenfratz, Linamar's executive chair and chief executive officer. A copy of the company's quarterly financial statements, including the management's discussion and analysis, will be available on the company's website after 4 p.m. ET on March 6, 2024, and at SEDAR+ by the start of business on March 7, 2024. The webcast replay will be available the company's website after the call. A taped replay of the conference call will also be made available starting at 8 p.m. ET on March 6, 2024, for seven days. The number for the replay is 1-877-674-7070 or 1-416-764-8692, pass code: 859424 followed by the pound key. In addition, a recording of the call will be posted at the company website.

About Linamar Corp.

Linamar 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 comprises 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 R&D (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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