NEWS RELEASEMAGNA AWARDED SPECIALIZED EDRIVE SYSTEM BUSINESS WITHNORTH AMERICA-BASED OEM•

New electrification program to support high-end niche vehicle platform•Primary rear system is a variant of Magna’s 800V eDS Duo, delivering exceptional
power and performance in one package•

Award reflects company’s expertise in electric powertrain system engineering, integration

HIGHLH
AURORA, Ontario, February 6, 2024 – Magna is growing its electrification customer base with a
newly awarded contract from a North America-based OEM to supply a specialized primary reareDrive system for one of the company’s high-end niche vehicle platforms. The award reinforces
Magna’s commitment to supporting the automotive industry’s short and long-termtransformational needs.
The highly complex system, a variant of Magna’s 800V eDS Duo, delivers exceptional power
and performance offered by only a few vehicles on the road today. Boasting 726 kW of power
and 8,000 Nm of torque, this solution integrates two e-motors, two inverters, and two gearboxes
into a single package.
Magna’s responsibilities encompass the design of the gearbox andhousing, the cooling system, and the integration of the e-motors andinverters to ensure reliability, efficiency, and continuous power levels.
“We are dedicated to assisting our customers in their transition toelectrification by providing them with industry-leading electrified
platforms for a sustainable, emission-free future,” said Diba
Ilunga, President Magna Powertrain. “This award reflects ourMagna’s specialized eDrive system will
deliver 726 kW of power, 8,000 Nm of
torque to a high-end niche vehicle platform

expertise in electric powertrain system engineering andintegration, as well as our collaborative approach with a highly valued customer to deliver
cutting-edge solutions.”
The system will be manufactured at Magna’s facility in Ramos, Mexico, with serial production
scheduled to start within the next few years.

MAGNA AWARDED SPECIALIZED EDRIVE SYSTEM BUSINESS WITH NORTHAMERICA-BASED OEM

CONNECT WITH MAGNATAGSElectrification, EcoInnovation, eDrive, Product & Technology
INVESTOR CONTACTLouis Tonelli, Vice-President, Investor Relations
louis.tonelli@magna.com, 905-726-7035
MEDIA CONTACT
Tracy Fuerst, Vice President, Corporate Communications & PR
tracy.fuerst@magna.com, 248-761-7004
ABOUT MAGNA
Magna is more than one of the world’s largest suppliers in the automotive space. We are amobility technology company built to innovate, with a global, entrepreneurial-minded team ofover 181,000 employees across 344 manufacturing operations and 104 product development,engineering and sales centers spanning 29 countries. With 65+ years of expertise, ourecosystem of interconnected products combined with our complete vehicle expertise uniquely
positions us to advance mobility in an expanded transportation landscape.

For further information about Magna (NYSE:MGA; TSX:MG), please visit www.magna.com orfollow us on social.
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MAGNA AWARDED SPECIALIZED EDRIVE SYSTEM BUSINESS WITH NORTHAMERICA-BASED OEMCONNECT WITH MAGNA