Ms. Linda Hasenfratz reports

LINAMAR DELIVERS A STELLAR 2023 WITH RECORD SALES, OVER 40% EARNINGS GROWTH, INCREASES DIVIDEND

Linamar Corp. has released its results for 2023.

Strong financial performance

• Sales up 19.1 per cent to $2.45-billion in Q4 2023, and up 23 per cent for the year;
• Normalized operating earnings up 36.2 per cent in Q4 2023, and up 41.4 per cent for the year; and
• Normalized diluted earnings per share up 23 per cent in Q4 2023, and up 40.3 per cent for the year.

Mobility segment performing

• Mobility segment finished the year on a very strong note with earnings and margins well up over Q3 2023;
• Mobility segment earnings also up over Q4 2022 and margins up on a constant currency basis.

Diversified strategy success

• Diversified strategy validated with Industrial earnings up 145 per cent over 2022, anchoring solid overall performance;
• Acquisition of the company's chassis and suspension business closed and will drive strong propulsion-agnostic growth.

Returning cash to shareholders

• Linamar is once again increasing its dividend to shareholders to a record quarterly 25 cents per share.

Double-digit sales growth in both segments

• Sales up 19.8 per cent for industrial for the quarter and 38.3 per cent for the year, due to solid market share growth in both the agricultural and access equipment product families;
• Sales up 18.9 per cent for mobility in the quarter and 18 per cent for the year, driven by both our Linamar Structures acquisitions as well as launching programs and increased volumes;
• North American and European content per vehicle hit a new annual record reflective of continued market share growth.

"Two thousand twenty-three was another incredible year for us at Linamar with excellent successes seen across all our businesses. We drove to record sales on the back of growing market share in every business, helped by acquisitions, we further diversified our business importantly in the propulsion agnostic arena, key to managing a changing landscape in the mobility business and delivered more than 40-per-cent growth in earnings," said Linamar executive chair and chief executive officer Linda Hasenfratz. "We are looking forward to another solid year of double-digit top- and bottom-line growth in 2024."

Dividends

The board of directors today declared an eligible dividend in respect to the quarter ended Dec. 31, 2023, of 25 cents per share on the common shares of the company, payable on or after April 15, 2024, to shareholders of record on March 28, 2024.

Conference call information

Q4 2023 release information

Linamar will hold a webcast call on March 6, 2024, at 5 p.m. ET to discuss its fourth 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 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 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 Linamar website.

Q1 2024 release information

Linamar will hold a webcast call on May 8, 2024, at 5 p.m. ET to discuss its first 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 90762585, 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 May 8, 2024, and at SEDAR+ by the start of business on May 9, 2024. 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 May 8, 2024, for seven days. The number for the replay is 1-877-674-7070 or 1-416-764-8692, pass code: 762585 followed by the pound key. In addition, a recording of the call will be posted at the Linamar 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 and the newly formed Linamar Agriculture operating group which consists of the MacDon, Salford and Bourgault brands. Skyjack manufactures scissors, boom and telehandler lifts for the aerial work platform industry. Within the agriculture portfolio MacDon manufactures combine draper headers and self-propelled windrowers for harvesting, Salford supplies farm tillage and crop fertilizer application equipment while Bourgault is a leader in air seeding technology. 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. Operationally, mobility is organized into three regional groups North America, Europe, Asia Pacific and the new Linamar Structures product 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. Design, development and testing services for the mobility segment are provided both by McLaren Engineering and for electrified solutions, the eLIN Product Solutions group. Linamar's medical solutions group, Linamar MedTech, focuses on manufacturing solutions for medical devices and precision medical components. Linamar has over 32,000 employees in 75 manufacturing locations, 17 R&D (research and development) centres and 31 sales offices in 19 countries in North and South America, Europe, and Asia, which generated sales of more than $9.7-billion in 2023.

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