Mr. Louis Tonelli reports

MAGNA POSTS 2023 ANNUAL REPORT

Magna International Inc.'s 2023 annual report, including management's discussion and analysis and audited consolidated financial statements, its annual information form, and Form 40-F are available on the company's website. Magna International has also filed these documents with the Canadian Securities Administrators (accessible through its website at SEDAR+) and the U.S. Securities and Exchange Commission (accessible through its website at EDGAR).

Its 2024 annual meeting of shareholders will be held on Thursday, May 9, 2024, commencing at 10 a.m. Eastern Daylight Time. The meeting is being conducted as a virtual-only meeting.

Magna International will provide a paper copy of its audited financial statements as contained in its 2023 annual report to shareholders, free of charge, on request through its website or in writing to Magna International, attention: corporate secretary, 337 Magna Dr., Aurora, Ont., Canada, L4G 7K1.

About Magna International Inc. (1)

Magna International is more than one of the world's largest suppliers in the automotive space. It is a mobility technology company built to innovate, with a global, entrepreneurial-minded team of over 179,000 (2) employees across 342 manufacturing operations and 104 product development, engineering and sales centres spanning 28 countries. With 65-plus years of expertise, its ecosystem of interconnected products, combined with its complete vehicle expertise, uniquely positions it to advance mobility in an expanded transportation landscape.

(1) Manufacturing operations, product development, engineering and sales centres include certain operations accounted for under the equity method.

(2) Number of employees includes approximately 166,000 employees at its wholly owned or controlled entities and over 13,000 employees at certain operations accounted for under the equity method.