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FINANCIAL REVIEW OF MAGNA INTERNATIONAL INC.
(United States dollars in millions, except per share figures) (Unaudited)
Prepared in accordance with U.S. GAAP

		2024															2025															2026
	Note	1st Q			2nd Q			3rd Q			4th Q			TOTAL			1st Q			2nd Q			3rd Q			4th Q			TOTAL			1st Q
VEHICLE VOLUME STATISTICS (in millions)
North America			3.979			4.105			3.716			3.723			15.523			3.696			3.983			3.936			3.702			15.317			3.542
Europe			4.556			4.451			3.705			4.133			16.845			4.233			4.376			3.771			4.391			16.771			4.067
China			6.355			7.065			7.268			9.732			30.420			7.060			7.749			8.151			10.075			33.035			6.225
Rest of World			6.456			6.557			7.540			6.350			26.903			7.027			6.845			6.854			7.603			28.329			6.653
Global			21.346			22.178			22.229			23.938			89.691			22.016			22.953			22.712			25.771			93.452			20.487
Magna Steyr vehicle assembly volumes			0.034			0.027			0.023			0.021			0.105			0.022			0.019			0.015			0.016			0.072			0.025

AVERAGE FOREIGN EXCHANGE RATES
1 Canadian dollar equals U.S. dollars			0.741			0.731			0.733			0.715			0.730			0.697			0.723			0.726			0.717			0.716			0.730
1 euro equals U.S. dollars			1.085			1.076			1.099			1.066			1.082			1.053			1.134			1.169			1.164			1.130			1.171
1 Chinese renminbi equals U.S. dollars			0.139			0.138			0.140			0.139			0.139			0.138			0.138			0.140			0.141			0.139			0.144

CONSOLIDATED STATEMENTS OF INCOME (LOSS)
Sales
Body Exteriors & Structures			4,429			4,465			4,038			4,067			16,999			3,966			4,253			4,147			4,252			16,618			4,079
Power & Vision			3,842			3,926			3,837			3,786			15,391			3,646			3,857			3,854			3,841			15,198			3,881
Seating Systems			1,455			1,455			1,379			1,511			5,800			1,312			1,433			1,520			1,633			5,898			1,340
Complete Vehicles			1,383			1,242			1,159			1,402			5,186			1,276			1,226			1,085			1,261			4,848			1,224
Corporate & Other			(139	)		(130	)		(133	)		(138	)		(540	)		(131	)		(138	)		(144	)		(139	)		(552	)		(143	)
			10,970			10,958			10,280			10,628			42,836			10,069			10,631			10,462			10,848			42,010			10,381

Costs and expenses
Cost of goods sold			9,642			9,494			8,828			9,073			37,037			8,827			9,127			8,973			9,094			36,021			8,958
Selling, general and administrative			516			523			487			535			2,061			539			565			531			586			2,221			557
Equity income			(34	)		(9	)		(13	)		(45	)		(101	)		(20	)		(32	)		(44	)		(47	)		(143	)		(95	)
Adjusted EBITDA			846			950			978			1,065			3,839			723			971			1,002			1,215			3,911			961
Depreciation			377			373			384			376			1,510			369			388			389			401			1,547			403
Adjusted EBIT			469			577			594			689			2,329			354			583			613			814			2,364			558
Amortization of acquired intangible assets			28			28			28			28			112			26			29			27			29			111			19
Other expense (income), net	1		356			68			(188	)		228			464			53			6			48			629			736			415
Interest expense, net			51			54			54			52			211			50			52			65			42			209			37
Income from operations before income taxes			34			427			700			381			1,542			225			496			473			114			1,308			87
Income tax expense			8			99			192			147			446			72			102			140			111			425			88
Net (loss) income			26			328			508			234			1,096			153			394			333			3			883			(1	)
Income attributable to non-controlling interests			(17	)		(15	)		(24	)		(31	)		(87	)		(7	)		(15	)		(28	)		(4	)		(54	)		(11	)
Net (loss) income attributable to Magna International Inc.			9			313			484			203			1,009			146			379			305			(1	)		829			(12	)

Diluted (loss) earnings per common share		$	0.03		$	1.09		$	1.68		$	0.71		$	3.52		$	0.52		$	1.35		$	1.08		$	-		$	2.93		$	(0.04	)

Weighted average number of Common Shares outstanding during the period (in millions):			287.1			287.3			287.3			285.9			286.9			282.0			281.7			281.8			281.2			282.5			278.1

NON-GAAP MEASURES
Adjusted EBITDA			846			950			978			1,065			3,839			723			971			1,002			1,215			3,911			961
Adjusted EBIT	2		469			577			594			689			2,329			354			583			613			814			2,364			558
Adjusted Return on Invested Capital	2		7.8	%		9.4	%		9.0	%		11.8	%		9.5	%		5.7	%		9.6	%		9.2	%		13.9	%		9.7	%		9.4	%
Adjusted net income attributable to Magna International Inc.	2		311			389			369			482			1,551			219			407			375			617			1,618			386
Adjusted EPS	2	$	1.08		$	1.35		$	1.28		$	1.69		$	5.41		$	0.78		$	1.44		$	1.33		$	2.18		$	5.73		$	1.38
Adjusted weighted average number of Common Shares outstanding during the period (in millions):	2		287.1			287.3			287.3			285.9			286.9			282.0			281.7			281.8			282.7			282.5			279.9

PROFITABILITY RATIOS
Selling, general and administrative /Sales			4.7	%		4.8	%		4.7	%		5.0	%		4.8	%		5.4	%		5.3	%		5.1	%		5.4	%		5.3	%		5.4	%
Adjusted EBIT /Sales			4.3	%		5.3	%		5.8	%		6.5	%		5.4	%		3.5	%		5.5	%		5.9	%		7.5	%		5.6	%		5.4	%
Income (loss) from operations before income taxes /Sales			0.3	%		3.9	%		6.8	%		3.6	%		3.6	%		2.2	%		4.7	%		4.5	%		1.1	%		3.1	%		0.8	%
Effective tax rate
Reported			23.5	%		23.2	%		27.4	%		38.6	%		28.9	%		32.0	%		20.6	%		29.6	%		97.4	%		32.5	%		101.1	%
Excluding Other expense (income) and amortization, net of taxes and valuation allowance adjustments			21.5	%		22.8	%		27.2	%		19.5	%		22.7	%		25.7	%		20.5	%		26.5	%		19.6	%		22.4	%		23.8	%

Q1 2026 Financial Review of Magna International Inc.

Page 1 of 7

Prepared as at 4/30/2026

FINANCIAL REVIEW OF MAGNA INTERNATIONAL INC.
(United States dollars in millions) (Unaudited)
Prepared in accordance with U.S. GAAP

		2024												2025												2026
		1st Q			2nd Q			3rd Q			4th Q			1st Q			2nd Q			3rd Q			4th Q			1st Q
CONSOLIDATED BALANCE SHEETS
FUNDS EMPLOYED
Current assets:
Accounts receivable			8,379			8,219			8,377			7,376			8,198			8,258			8,406			7,593			8,215
Inventories			4,511			4,466			4,592			4,151			4,184			4,207			4,233			4,126			3,964
Prepaid expenses and other			399			314			303			344			358			333			316			407			405
Held for sale assets			-			-			-			-			-			-			-			-			316
			13,289			12,999			13,272			11,871			12,740			12,798			12,955			12,126			12,900
Current liabilities:
Accounts payable			7,855			7,639			7,608			7,194			7,376			7,127			7,261			6,895			7,216
Accrued salaries and wages			883			862			962			867			893			917			994			888			920
Other accrued liabilities			2,728			2,650			2,642			2,572			2,723			2,845			2,906			2,745			2,878
Income taxes payable (receivable)			132			79			176			192			152			88			109			106			129
Held for sale liabilities			-			-			-			-			-			-			-			-			296
			11,598			11,230			11,388			10,825			11,144			10,977			11,270			10,634			11,439

Working capital			1,691			1,769			1,884			1,046			1,596			1,821			1,685			1,492			1,461

Investments			1,195			1,161			1,165			1,045			1,062			1,129			1,098			1,103			1,289
Fixed assets, net			9,545			9,623			9,836			9,584			9,650			9,853			9,707			9,507			9,012
Goodwill, other assets and intangible assets			4,646			4,709			4,865			4,532			4,669			4,896			4,876			4,277			4,108
Operating lease right-of-use assets			1,733			1,688			1,780			1,941			2,032			2,061			2,024			1,928			1,865
Funds employed			18,810			18,950			19,530			18,148			19,009			19,760			19,390			18,307			17,735
FINANCING
Net debt and leases:
Cash and cash equivalents			(1,517	)		(999	)		(1,061	)		(1,247	)		(1,059	)		(1,536	)		(1,327	)		(1,612	)		(1,605	)
Short-term borrowings			838			848			828			271			614			349			433			-			136
Long-term debt due within one year			824			65			65			708			1,005			706			33			27			20
Long-term debt			4,549			4,863			4,916			4,134			3,892			4,984			4,967			4,685			4,643
Current portion of operating lease liabilities			306			306			319			293			305			318			323			328			328
Operating lease liabilities			1,407			1,378			1,458			1,662			1,742			1,759			1,722			1,649			1,573
			6,407			6,461			6,525			5,821			6,499			6,580			6,151			5,077			5,095
Long-term employee benefit liabilities			584			564			571			533			552			574			573			554			530
Other long-term liabilities			471			507			339			396			349			267			298			399			426
Deferred tax assets, net			(576	)		(592	)		(592	)		(542	)		(557	)		(564	)		(567	)		(562	)		(588	)
			479			479			318			387			344			277			304			391			368
Shareholders' equity			11,924			12,010			12,687			11,940			12,166			12,903			12,935			12,839			12,272
			18,810			18,950			19,530			18,148			19,009			19,760			19,390			18,307			17,735

ASSET UTILIZATION RATIOS
Days in accounts receivable			68.7			67.5			73.3			62.5			73.3			69.9			72.3			63.0			71.2
Days in accounts payable			73.3			72.4			77.6			71.4			75.2			70.3			72.8			68.2			72.5
Inventory turnover - cost of goods sold			8.5			8.5			7.7			8.7			8.4			8.7			8.5			8.8			9.0
Working capital turnover			25.9			24.8			21.8			40.6			25.2			23.4			24.8			29.1			28.4
Total asset turnover			2.3			2.3			2.1			2.3			2.1			2.2			2.2			2.4			2.3

CAPITAL STRUCTURE
Net debt and leases			34.1	%		34.1	%		33.4	%		32.1	%		34.2	%		33.3	%		31.7	%		27.7	%		28.7	%
Long-term employee benefit liabilities, other long-term liabilities & deferred tax liabilities, net			2.5	%		2.5	%		1.6	%		2.1	%		1.8	%		1.4	%		1.6	%		2.1	%		2.1	%
Shareholders' equity			63.4	%		63.4	%		65.0	%		65.8	%		64.0	%		65.3	%		66.7	%		70.1	%		69.2	%
			100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%

Adjusted Debt to Adjusted EBITDA	2		1.98	x		1.91	x		1.93	x		1.75	x		1.92	x		2.03	x		1.88	x		1.59	x		1.50	x

Debt to total capitalization			39.9	%		38.3	%		37.4	%		37.2	%		38.3	%		38.6	%		36.6	%		34.3	%		35.3	%

Q1 2026 Financial Review of Magna International Inc.

Page 2 of 7

Prepared as at 4/30/2026

FINANCIAL REVIEW OF MAGNA INTERNATIONAL INC.
(United States dollars in millions) (Unaudited)
Prepared in accordance with U.S. GAAP

		2024															2025															2026
	Note	1st Q			2nd Q			3rd Q			4th Q			TOTAL			1st Q			2nd Q			3rd Q			4th Q			TOTAL			1st Q
CONSOLIDATED STATEMENTS OF CASH FLOWS
Operating activities
Net income			26			328			508			234			1,096			153			394			333			3			883			(1	)
Items not involving current cash flows			565			353			277			662			1,857			394			368			454			1,152			2,368			638
			591			681			785			896			2,953			547			762			787			1,155			3,251			637
Changes in operating assets and liabilities			(330	)		55			(58	)		1,014			681			(470	)		(135	)		125			827			347			40
Cash provided from operating activities			261			736			727			1,910			3,634			77			627			912			1,982			3,598			677

Investment activities
Fixed asset additions			(493	)		(500	)		(476	)		(709	)		(2,178	)		(268	)		(246	)		(267	)		(532	)		(1,313	)		(219	)
Increase in investments, other assets and intangible assets			(125	)		(170	)		(115	)		(207	)		(617	)		(148	)		(94	)		(100	)		(157	)		(499	)		(168	)
Net cash (outflow) inflow from disposal of facilities	1(f), 1(g)		4			-			78			-			82			-			-			-			-			-			-
Investment in Public and Private Equity Investments			(23	)		2			(1	)		10			(12	)		(1	)		(3	)		(2	)		(2	)		(8	)		(1	)
Proceeds from disposition			87			57			38			37			219			26			14			27			54			121			82
Business combinations			(30	)		(56	)		-			-			(86	)		(4	)		4			(1	)		-			(1	)		-
Cash used for investment activities			(580	)		(667	)		(476	)		(869	)		(2,592	)		(395	)		(325	)		(343	)		(637	)		(1,700	)		(306	)

Financing activities
Net issues (repayments) of debt			757			(416	)		(47	)		(513	)		(219	)		322			341			(583	)		(747	)		(667	)		135
Common Shares issued on exercise of stock options			30			-			-			-			30			-			-			-			2			2			86
Repurchase of Common Shares			(3	)		(2	)		-			(202	)		(207	)		(51	)		-			-			(86	)		(137	)		(440	)
Tax withholdings on vesting of equity awards			(4	)		(1	)		-			(3	)		(8	)		(4	)		-			-			(1	)		(5	)		(9	)
Acquisition of non-controlling interest			-			-			-			-			-			-			-			(40	)		(82	)		(122	)		-
Dividends paid to non-controlling interests			-			(26	)		(10	)		(10	)		(46	)		-			(25	)		(15	)		(19	)		(59	)		-
Dividends paid			(134	)		(134	)		(138	)		(133	)		(539	)		(136	)		(137	)		(136	)		(135	)		(544	)		(135	)
Cash provided from (used for) financing activities			646			(579	)		(195	)		(861	)		(989	)		131			179			(774	)		(1,068	)		(1,532	)		(363	)

Effect of exchange rate changes on cash, cash equivalents and restricted cash equivalents			(8	)		(8	)		6			6			(4	)		(1	)		(4	)		(4	)		8			(1	)		8
Net increase (decrease) in cash, cash equivalents and restricted cash equivalents during the period			319			(518	)		62			186			49			(188	)		477			(209	)		285			365			16

Cash, cash equivalents and restricted cash equivalents, beginning of period	4		1,198			1,517			999			1,061			1,198			1,247			1,059			1,536			1,327			1,247			1,612
Cash, cash equivalents and restricted cash equivalents, end of period			1,517			999			1,061			1,247			1,247			1,059			1,536			1,327			1,612			1,612			1,628

NON-GAAP MEASURES
Free Cash Flow	2		(270	)		123			174			1,031			1,058			(313	)		301			572			1,347			1,907			372

Q1 2026 Financial Review of Magna International Inc.

Page 3 of 7

Prepared as at 4/30/2026

FINANCIAL REVIEW OF MAGNA INTERNATIONAL INC.

(United States dollars in millions, except per share figures) (Unaudited)

Prepared in accordance with U.S. GAAP

This Analyst should be read in conjunction with the audited consolidated financial statements for the year ended December 31, 2025.

Note 1:

OTHER EXPENSE (INCOME), NET

Other expense (income), net consists of significant items such as: impairment charges; restructuring costs generally related to significant plant closures or consolidations; net losses (gains) on investments; gains or losses on disposal of facilities or businesses; and other items not reflective of on-going operating profit or loss. Other expense (income), net consists of:

		2024													2025												2026
		1st Q		2nd Q			3rd Q			4th Q		TOTAL			1st Q		2nd Q			3rd Q		4th Q			TOTAL		1st Q
Loss on assets held for sale	[a]		-		-			-			-		-			-		-			-		-			-		485
Restructuring activities	[b]		38		55			-			94		187			44		13			46		15			118		26
Investment revaluations, (gains) losses on sales, and impairments	[c]		2		3			1			3		9			9		(7	)		2		(1	)		3		(96	)
Impairments	[d]		-		-			-			79		79			-		-			-		615			615		-
Impacts related to Fisker Inc. [“Fisker”]	[e]		316		19			(189	)		52		198			-		-			-		-			-		-
Gain on business combination	[f]		-		(9	)		-			-		(9	)		-		-			-		-			-		-
			356		68			(188	)		228		464			53		6			48		629			736		415

[a]

Loss on assets held for sale

During the first quarter of 2026, the Company entered into definitive agreements to divest its European Lighting and Rooftop Systems businesses. Subsequent to March 31, 2026, the Company entered into a definitive agreement to divest its Lighting business in North America, South America, and China. The Company concluded that the assets and liabilities of the Lighting and Rooftop Systems businesses met the criteria to be classified as held for sale as of March 31, 2026. These businesses are reported within the Company’s Power & Vision segment.

The Company determined that the carrying amount of the disposal groups exceeded its fair value less costs to sell and recognized an impairment loss of $485 million. All three transactions are expected to close during the second half of 2026, subject to customary closing conditions and regulatory approvals.

[b]

Restructuring activities

	2024										2025											2026
	1st Q		2nd Q		3rd Q		4th Q		TOTAL		1st Q		2nd Q		3rd Q		4th Q			TOTAL		1st Q
Complete Vehicles		26		-		-		29		55		33		-		12		13			58		21
Power & Vision		-		55		-		49		104		11		13		34		(7	)		51		5
Body Exteriors & Structures		12		-		-		16		28		-		-		-		9			9		-
		38		55		-		94		187		44		13		46		15			118		26

Restructuring charges generally related to significant plant closures and consolidations primarily in Europe and to a lesser extent in North America and Asia Pacific. During the third quarter of 2025, the Company’s Power & Vision segment recorded $10 million of equity losses associated with its share of significant rightsizing activities at an equity method investee. During the second quarters of 2025 and 2024, the Company recorded $6 million and $35 million, respectively, of restructuring charges associated with its acquisition of the Veoneer Active Safety Business [“Veoneer AS”].

[c]

Investment revaluations, (gains) losses on sales, and impairments

	2024												2025												2026
	1st Q		2nd Q		3rd Q		4th Q			TOTAL			1st Q		2nd Q			3rd Q		4th Q			TOTAL		1st Q
(Gains) and losses related to revaluation and disposition		2		3		1		(10	)		(4	)		9		(7	)		-		(1	)		1		(110	)
Non-cash impairment charges		-		-		-		13			13			-		-			2		-			2		14
		2		3		1		3			9			9		(7	)		2		(1	)		3		(96	)

The Company revalues its public and private equity investments and certain public company warrants every quarter. The gains and losses related to this revaluation, as well as gains and losses on disposition, are primarily recorded in Corporate. The non-cash impairment charges on private equity investments are primarily recorded in Corporate. During the first quarter of 2026, the Company recorded an unrealized gain of $108 million resulting from the revaluation of its existing private equity investment in Waymo LLC ("Waymo") following Waymo's completion of a new financing round.

[d]

Impairments

During 2025, the Company concluded that indicators of impairment were present for finite-lived intangible assets and goodwill in the Electronics reporting unit within the Power & Vision segment and recorded $591 million impairment. During 2025, the Company also recorded an impairment charge of $24 million on fixed assets and other assets at a European facility in its Body Exteriors & Structures segment. During 2024, the Company recorded an impairment charge of $79 million on fixed assets, right of use assets and intangible assets at two European facilities in its Power & Vision segment.

[e]

Impacts related to Fisker Inc. [“Fisker”]

During 2023 and 2024, the Company recorded impairment charges on its Fisker related net assets, including its Fisker warrants, which were received in connection with the agreements with Fisker for platform sharing, engineering and manufacturing of the Fisker Ocean SUV. The Company also recorded additional restructuring charges during the first quarter of 2024 related to its Fisker related assembly operations. In the course of such bankruptcy proceedings, the Company terminated its manufacturing agreement for the Fisker Ocean SUV and recognized the remaining $196 million of deferred revenue into income.

	2024												2025										2026
	1st Q		2nd Q		3rd Q			4th Q		TOTAL			1st Q		2nd Q		3rd Q		4th Q		TOTAL		1st Q
Impairment of Fisker related net assets		261		19		7			43		330			-		-		-		-		-		-
Impairment of Fisker warrants		33		-		-			-		33			-		-		-		-		-		-
Additional restructuring related to Complete Vehicles		22		-		-			9		31			-		-		-		-		-		-
Recognition of related deferred revenue		-		-		(196	)		-		(196	)		-		-		-		-		-		-
		316		19		(189	)		52		198			-		-		-		-		-		-

[f]

Gain on business combination

During 2024, the Company acquired a business in the Body Exteriors & Structures segment for $5 million, resulting in a bargain purchase gain of $9 million.

Q1 2026 Financial Review of Magna International Inc.

Page 4 of 7

Prepared as at 4/30/2026

Note 2:

NON-GAAP MEASURES

The Company presents Adjusted EBIT (Earnings before interest, taxes, Other expense (income), net and amortization of acquired intangible assets); Adjusted Net Income (Net Income before Other expense (income), net, net of tax excluding significant income tax valuation allowance adjustments, and amortization of acquired intangible assets); Adjusted Diluted Earnings per Share ("Adjusted EPS"); Adjusted EBIT as a percentage of sales; Free Cash Flow; Adjusted Return on Invested Capital; and Adjusted Debt to Adjusted EBITDA. The Company presents these financial figures because such measures are widely used by analysts and investors in evaluating the operating performance of the Company. However, such measures do not have any standardized meaning under U.S. generally accepted accounting principles and may not be comparable to the calculation of similar measures by other companies.

The following table reconciles Income from operations before income taxes to Adjusted EBIT:

	2024											2025										2026
	1st Q		2nd Q		3rd Q			4th Q		TOTAL		1st Q		2nd Q		3rd Q		4th Q		TOTAL		1st Q
Income from operations before income taxes		34		427		700			381		1,542		225		496		473		114		1,308		87
Exclude:
Amortization of acquired intangible assets		28		28		28			28		112		26		29		27		29		111		19
Other expense (income), net		356		68		(188	)		228		464		53		6		48		629		736		415
Interest expense, net		51		54		54			52		211		50		52		65		42		209		37
Adjusted EBIT		469		577		594			689		2,329		354		583		613		814		2,364		558

The following table shows the calculation of Adjusted Return on Invested Capital:

	2024															2025																2026
	1st Q			2nd Q			3rd Q			4th Q			FY			1st Q			2nd Q			3rd Q			4th Q			FY			1st Q
Net (loss) income		26			328			508			234			1,096			153			394			333			3			883			(1	)
Add (deduct):
Interest expense, net		51			54			54			52			211			50			52			65			42			209			37
Amortization of acquired intangible assets		28			28			28			28			112			26			29			27			29			111			19
Other expense (income), net		356			68			(188	)		228			464			53			6			48			629			736			415
Tax effect on Interest expense, net, Amortization of acquired intangible assets and Other expense, net		(93	)		(32	)		30			(38	)		(133	)		(19	)		(18	)		(22	)		(48	)		(107	)		(45	)
Adjustments to Deferred Tax Valuation Allowances		-			-			-			51			51			-			-			-			-			-			-
Adjusted After-tax operating profits		368			446			432			555			1,801			263			463			451			655			1,832			425

Total Assets		32,678			31,986			32,790			31,039						32,074			33,175			32,907			31,417						31,660
Excluding:
Cash and cash equivalents		(1,517	)		(999	)		(1,061	)		(1,247	)					(1,059	)		(1,536	)		(1,327	)		(1,612	)					(1,605	)
Deferred tax assets		(753	)		(807	)		(811	)		(819	)					(862	)		(902	)		(920	)		(864	)					(881	)
Less Current Liabilities		(13,566	)		(12,449	)		(12,600	)		(12,097	)					(13,068	)		(12,350	)		(12,059	)		(10,989	)					(11,923	)
Excluding:
Short-term borrowing		838			848			828			271						614			349			433			-						136
Long-term debt due within one year		824			65			65			708						1,005			706			33			27						20
Current portion of operating lease liabilities		306			306			319			293						305			318			323			328						328
Invested Capital		18,810			18,950			19,530			18,148						19,009			19,760			19,390			18,307						17,735

Adjusted After-tax operating profits		368			446			432			555			1,801			263			463			451			655			1,832			425
Average Invested Capital		18,871			18,880			19,240			18,839			18,875			18,579			19,385			19,575			18,849			18,923			18,021
Adjusted Return on Invested Capital		7.8	%		9.4	%		9.0	%		11.8	%		9.5	%		5.7	%		9.6	%		9.2	%		13.9	%		9.7	%		9.4	%

Q1 2026 Financial Review of Magna International Inc.

Page 5 of 7

Prepared as at 4/30/2026

Note 2:

NON-GAAP MEASURES (Continued)

The following table reconciles Net income attributable to Magna International Inc. to Adjusted net income attributable to Magna International Inc.:

		2024													2025												2026
		1st Q		2nd Q			3rd Q			4th Q		TOTAL			1st Q		2nd Q			3rd Q		4th Q			TOTAL		1st Q
Net (loss) income attributable to Magna International Inc.			9		313			484			203		1,009			146		379			305		(1	)		829		(12	)
Exclude:
Amortization of acquired intangible assets			22		23			22			22		89			21		24			22		26			93		17
Loss on assets held for sale			-		-			-			-		-			-		-			-		-			-		452
Impairments			-		-			-			79		79			-		-			-		578			578		-
Restructuring activities			32		45			-			82		159			44		9			46		15			114		25
Investment revaluations, (gains) losses on sales, and impairments			1		2			3			6		12			8		(5	)		2		(1	)		4		(96	)
Impacts related to Fisker Inc. [“Fisker”]			247		15			(140	)		39		161			-		-			-		-			-		-
Gain on business combination			-		(9	)		-			-		(9	)		-		-			-		-			-		-
Adjustments to Deferred Tax Valuation Allowance	[iii]		-		-			-			51		51			-		-			-		-			-		-
																												-
Adjusted net income attributable to Magna International Inc.			311		389			369			482		1,551			219		407			375		617			1,618		386

The following table reconciles diluted (loss) earnings per common share to Adjusted EPS [iv]:

		2024													2025											2026
		1st Q		2nd Q			3rd Q			4th Q		TOTAL			1st Q		2nd Q			3rd Q		4th Q		TOTAL		1st Q
Diluted (loss) earnings per common share		$	0.03	$	1.09		$	1.68		$	0.71	$	3.52		$	0.52	$	1.35		$	1.08	$	-	$	2.93	$	(0.04	)
Exclude:
Amortization of acquired intangible assets			0.08		0.08			0.08			0.08		0.31			0.08		0.08			0.08		0.09		0.34		0.06
Loss on assets held for sale			-		-			-			-		-			-		-			-		-		-		1.61
Impairments			-		-			-			0.28		0.28			-		-			-		2.04		2.05		-
Restructuring activities			0.11		0.15			-			0.29		0.55			0.15		0.03			0.16		0.05		0.40		0.09
Investment revaluations, (gains) losses on sales, and impairments			-		0.01			0.01			0.01		0.04			0.03		(0.02	)		0.01		-		0.01		(0.34	)
Impacts related to Fisker Inc. [“Fisker”]			0.86		0.05			(0.49	)		0.14		0.56			-		-			-		-		-		-
Gain on business combination			-		(0.03	)		-			-		(0.03	)		-		-			-		-		-		-
Adjustments to Deferred Tax Valuation Allowance	[iii]		-		-			-			0.18		0.18			-		-			-		-		-		-

Adjusted EPS		$	1.08	$	1.35		$	1.28		$	1.69	$	5.41		$	0.78	$	1.44		$	1.33	$	2.18	$	5.73	$	1.38

[iii]

Adjustments to Deferred Tax Valuation Allowance

The Company records quarterly adjustments to the valuation allowance against its deferred tax assets and liabilities in continents like North America, Europe, Asia, and South America. The net effect of these adjustments is an increase to income tax expense in the fourth quarter of 2024.

The following table reconciles Diluted weighted average number of Common Shares outstanding to Adjusted Diluted weighted average number of Common Shares outstanding:

		2024										2025										2026
		1st Q		2nd Q		3rd Q		4th Q		TOTAL		1st Q		2nd Q		3rd Q		4th Q		TOTAL		1st Q
Diluted weighted average number of Common Shares outstanding during the period (in millions):			287.1		287.3		287.3		285.9		286.9		282.0		281.7		281.8		281.2		282.5		278.1
Adjusted Dilutive impact of stock option and share awards	[iv]		-		-		-		-		-		-		-		-		1.5		-		1.8
Adjusted Diluted weighted average number of Common Shares outstanding during the period (in millions):			287.1		287.3		287.3		285.9		286.9		282.0		281.7		281.8		282.7		282.5		279.9

[iv] For the first quarter of 2026 and fourth quarter of 2025, the Company generated Adjusted Net Income attributable to Magna International Inc. while reporting a net loss attributable to Magna International Inc. As a result, certain stock-based compensation awards have a dilutive effect for adjusted EPS and are included in the adjusted diluted weighted average number of Common Shares.

Q1 2026 Financial Review of Magna International Inc.

Page 6 of 7

Prepared as at 4/30/2026

Note 2: NON-GAAP MEASURES (Continued)

The following table shows the calculation of Rating Agency Adjusted Debt to Adjusted EBITDA:

		2024												2025												2026
		1st Q			2nd Q			3rd Q			4th Q			1st Q			2nd Q			3rd Q			4th Q			1st Q
Debt and leases per balance sheet			7,924			7,460			7,586			7,068			7,558			8,116			7,478			6,689			6,700
Long-Term Employee Benefit Liabilities	[i]		125			125			125			127			127			127			127			131			131
Adjusted Debt	[A]		8,049			7,585			7,711			7,195			7,685			8,243			7,605			6,820			6,831

Rolling four quarter Adjusted EBITDA			3,718			3,699			3,704			3,839			3,716			3,737			3,761			3,911			4,149
Capitalized operating lease expense	[i]		353			353			353			410			410			410			410			428			428
Pension adjustment	[i], [ii]		4			4			4			(20	)		(20	)		(20	)		(20	)		2			2
Interest income	[i]		86			86			86			98			98			98			98			66			66
Rolling four quarter cash portion of other expense, net			(94	)		(161	)		(149	)		(219	)		(203	)		(161	)		(196	)		(106	)		(90	)
	[B]		4,067			3,981			3,998			4,108			4,001			4,064			4,053			4,301			4,555

Adjusted Debt to Adjusted EBITDA	[A] / [B]		1.98	x		1.91	x		1.93	x		1.75	x		1.92	x		2.03	x		1.88	x		1.59	x		1.50	x

[i] The long-term employee benefit liabilities, capitalized operating lease expense, interest income and pension adjustment figures included in the Adjusted EBITDA calculations are based on the annual figures for the years ended December 31, 2025, December 31, 2024, and December 31, 2023, respectively.

[ii] Pension adjustment calculated as Net Periodic Pension Benefit Cost less Current Service Cost for defined benefit pension plans.

The following table reconciles cash provided from operating activities to Free Cash Flow:

	2024															2025															2026
	1st Q			2nd Q			3rd Q			4th Q			TOTAL			1st Q			2nd Q			3rd Q			4th Q			TOTAL			1st Q

Cash provided from operating activities		261			736			727			1,910			3,634			77			627			912			1,982			3,598			677
Add (deduct):
Fixed asset additions		(493	)		(500	)		(476	)		(709	)		(2,178	)		(268	)		(246	)		(267	)		(532	)		(1,313	)		(219	)
Increase in investments, other assets and intangible assets		(125	)		(170	)		(115	)		(207	)		(617	)		(148	)		(94	)		(100	)		(157	)		(499	)		(168	)
Proceeds from disposition		87			57			38			37			219			26			14			27			54			121			82
Free Cash Flow		(270	)		123			174			1,031			1,058			(313	)		301			572			1,347			1,907			372

Note 3:

SEGMENTED INFORMATION

	2024															2025															2026
	1st Q			2nd Q			3rd Q			4th Q			TOTAL			1st Q			2nd Q			3rd Q			4th Q			TOTAL			1st Q
Body Exteriors & Structures
Sales		4,429			4,465			4,038			4,067			16,999			3,966			4,253			4,147			4,252			16,618			4,079
Adjusted EBIT		298			341			273			371			1,283			230			347			305			465			1,347			274
Adjusted EBIT as a percentage of sales		6.7	%		7.6	%		6.8	%		9.1	%		7.5	%		5.8	%		8.2	%		7.4	%		10.9	%		8.1	%		6.7	%

Power & Vision
Sales		3,842			3,926			3,837			3,786			15,391			3,646			3,857			3,854			3,841			15,198			3,881
Adjusted EBIT		98			198			279			235			810			124			162			236			166			688			252
Adjusted EBIT as a percentage of sales		2.6	%		5.0	%		7.3	%		6.2	%		5.3	%		3.4	%		4.2	%		6.1	%		4.3	%		4.5	%		6.5	%

Seating Systems
Sales		1,455			1,455			1,379			1,511			5,800			1,312			1,433			1,520			1,633			5,898			1,340
Adjusted EBIT		52			53			51			67			223			(30	)		42			62			136			210			25
Adjusted EBIT as a percentage of sales		3.6	%		3.6	%		3.7	%		4.4	%		3.8	%		-2.3	%		2.9	%		4.1	%		8.3	%		3.6	%		1.9	%

Complete Vehicles
Sales		1,383			1,242			1,159			1,402			5,186			1,276			1,226			1,085			1,261			4,848			1,224
Adjusted EBIT		27			20			27			56			130			44			28			29			50			151			32
Adjusted EBIT as a percentage of sales		2.0	%		1.6	%		2.3	%		4.0	%		2.5	%		3.4	%		2.3	%		2.7	%		4.0	%		3.1	%		2.6	%

Corporate and other
Intercompany eliminations		(139	)		(130	)		(133	)		(138	)		(540	)		(131	)		(138	)		(144	)		(139	)		(552	)		(143	)
Adjusted EBIT		(6	)		(35	)		(36	)		(40	)		(117	)		(14	)		4			(19	)		(3	)		(32	)		(25	)

Total
Sales		10,970			10,958			10,280			10,628			42,836			10,069			10,631			10,462			10,848			42,010			10,381
Adjusted EBIT		469			577			594			689			2,329			354			583			613			814			2,364			558
Adjusted EBIT as a percentage of sales		4.3	%		5.3	%		5.8	%		6.5	%		5.4	%		3.5	%		5.5	%		5.9	%		7.5	%		5.6	%		5.4	%

Note 4:

CASH, CASH EQUIVALENTS AND RESTRICTED CASH EQUIVALENTS

A reconciliation of Cash and cash equivalents and Restricted cash equivalents (included in prepaid expenses) to Total cash, cash equivalents and restricted cash equivalents is as follows:

	2024								2025								2026
	1st Q		2nd Q		3rd Q		4th Q		1st Q		2nd Q		3rd Q		4th Q		1st Q
Cash and cash equivalents		1,517		999		1,061		1,247		1,059		1,536		1,327		1,612		1,605
Restricted cash equivalents included in prepaid expenses		-		-		-		-		-		-		-		-		23
Total cash, cash equivalents and restricted cash equivalents		1,517		999		1,061		1,247		1,059		1,536		1,327		1,612		1,628

Q1 2026 Financial Review of Magna International Inc.

Page 7 of 7

Prepared as at 4/30/2026