Mr. Louis Tonelli reports

MAGNA ANNOUNCES RENEWAL OF NORMAL COURSE ISSUER BID

The Toronto Stock Exchange has accepted Magna International Inc.'s notice of intention to renew its normal course issuer bid. Pursuant to the notice, Magna may purchase up to 25,778,000 Magna common shares (the NCIB), representing approximately 10 per cent of its public float. As at Oct. 31, 2026, Magna had 258,383,499 issued and outstanding common shares, including a public float of 257,862,127 common shares.

• NCIB authorizes the discretionary repurchase of up to 25,778,000 Magna common shares, representing approximately 10 per cent of Magna's public float;
• NCIB takes effect on Nov. 9, 2026, and terminates no later than Nov. 8, 2027.

The primary purposes of the NCIB are to facilitate purchases for cancellation, as well as purchases to finance Magna's stock-based compensation awards and programs. Magna may purchase its common shares for cancellation, from time to time, if it believes that the market price of its common shares is attractive and that the purchase would be an appropriate use of corporate funds and in the best interests of the corporation. Magna may elect to modify, suspend or discontinue the NCIB, and purchases thereunder, at any time.

The NCIB will commence on Nov. 9, 2026, and will terminate no later than Nov. 8, 2027. All purchases of common shares under the NCIB may be made on the TSX, at the market price at the time of purchase in accordance with the rules and policies of the TSX, or on the New York Stock Exchange (NYSE) in compliance with Rule 10b-18 under the U.S. Securities Exchange Act of 1934. In addition to purchases made on the open market through the facilities of the TSX and NYSE, Magna may also make purchases through alternative trading systems in Canada and the United States, and by private agreement or under a specific share repurchase program pursuant to an issuer bid exemption order issued by a securities regulatory authority. Purchases made by way of such private agreements or a specific share repurchase program may be at a discount to the prevailing market price.

The rules and policies of the TSX contain restrictions on the number of shares that can be purchased under the NCIB, based on the average daily trading volumes of the common shares on the TSX. Similarly, the safe harbor conditions of Rule 10b-18 impose certain limitations on the number of shares that can be purchased on the NYSE per day. As a result of such restrictions, subject to certain exceptions for block purchases, the maximum number of common shares which can be purchased per day during the NCIB on the TSX is 279,091, based on 25 per cent of the average daily trading volume for the prior six months (being 1,116,366 common shares on the TSX). Subject to certain exceptions for block purchases, the maximum number of common shares which can be purchased per day on the NYSE will be 25 per cent of the average daily trading volume for the four calendar weeks preceding the date of purchase. Subject to regulatory requirements, the actual number of common shares purchased and the timing of such purchases, if any, will be determined by Magna having regard to future price movements and other factors.

Expiring bid

Magna's current normal course issuer bid, announced in November of 2025, for the purchase of up to 25.3 million common shares will expire at the close of trading on Nov. 6, 2026. As at the close of trading on Oct. 30, 2026, Magna had purchased all 25.3 million common shares under the current normal course issuer bid at weighted average prices of $86.13 and $62.10 (U.S.) through the facilities of the TSX and NYSE as well as through alternative trading systems in Canada and the United States. Of such repurchases, 25,044,933 common shares were cancelled, and the remainder of the repurchased common shares funded Magna's stock-based compensation programs.

Agreement to establish an automatic purchase plan

Effective as of the start of the NCIB, Magna today announces that it has also entered into an agreement establishing an automatic share purchase plan with a designated broker to facilitate the purchase of common shares under the NCIB. Under the automatic purchase plan, Magna may, from time to time, provide instructions and strict parameters regarding how its common shares can be purchased during times when it would ordinarily not be permitted to purchase common shares due to regulatory restrictions or self-imposed blackout periods. The automatic purchase plan terminates on the earliest date on which: (a) the purchase limit specified in the automatic purchase plan has been reached; (b) Magna terminates the automatic purchase plan in accordance with its terms, in which case Magna will issue a press release confirming such termination; and (c) the NCIB terminates.

About Magna International Inc.

Magna is one of the world's largest automotive suppliers and a trusted partner to automakers in the industry's most critical markets globally. With operations in 27 countries, the company combines global scale with trusted reliability and proven execution. Backed by nearly seven decades of experience, the company brings together deep manufacturing expertise with innovative vehicle systems to deliver performance, safety and quality.

We seek Safe Harbor.