EXHIBIT 99.1



# Wescast Industries Inc.
RENEWAL ANNUAL INFORMATION FORMFor the Year Ended January 2, 2005

# March 18, 2005

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# Presentation of
Information

Unless otherwise indicated, all
information in this Annual Information Form (AIF) is presented as at and for
the year ended January 2, 2005 and amounts are expressed in Canadian dollars.Financial information is presented in accordance with Canadian generally accepted
accounting principles.

# Documents Incorporated
by Reference

The following documents are
incorporated by reference into this AIF: (i) Wescast Industries Inc.s
Managements Discussion and Analysis for the year ended January 2, 2005, and (ii)
Wescast Industries Inc.s audited consolidated financial statements and accompanying
notes for the year ended January 2, 2005. These documents have been filed with applicable
securities regulators in Canada and may be accessed at www.sedar.com
and have also been filed with the Securities and Exchange Commission in the United States.

# Forward-Looking
Statements

The contents of this Annual
Information Form (and the documents incorporated by reference) contain statements which,
to the extent that they are not recitations of historical fact may constitute
forward-looking information made pursuant to the safe harbor provisions of the
United States Private Securities Litigation Reform Act of 1995. Such
forward-looking statements may include financial and other projections as well as
statements regarding Wescast Industries Inc.s (Wescast) future plans,
objectives, performance or the Companys underlying assumptions. The words
may, would, could, will,
likely, expect, anticipate, intend,
estimate, intend, plan, forecast,
project, estimate and believe or other similar words
and phrases are intended to identify forward-looking statements. Persons reading this
Annual Information Form are cautioned that such statements are only predictions, and that
Wescasts actual future results or performance may be materially different.

Such forward-looking statements
involve known and unknown risks, uncertainties and other factors which may cause actual
results to differ materially from those expressed or implied by such forward-looking
statements. These risks and uncertainties principally relate to the risks associated with
the automotive industry and include, but are not limited to: our operating and/or
financial performance, including the effect of new accounting standards on our reported
financial results, fluctuations in interest rates, changes in consumer and business
confidence levels, consumers personal debt levels, vehicle prices, the extent and
nature of purchasing or leasing incentive campaigns offered by automotive manufacturers,
environmental emission regulations, fuel prices and availability, the continuation and
extent of outsourcing by automotive manufacturers, changes in raw material and other input
costs, our ability to continue to meet customer specifications relating to product
performance, cost, quality, delivery and service, industry cyclicality or seasonality,
trade and/or labour issues or disruptions, customer pricing pressures, pricing concessions
and cost absorptions; actual levels of program production volumes by our customers
compared to original expectations, including program cancellations or delays price
reduction pressures, dependence on certain engine programs and the market success and
consumer acceptance of the vehicles into which such powertrain products are installed, our
relationship with and dependence on certain customers, currency exposure, failures in
implementing Wescasts strategy, technological developments by Wescasts
competitors, government and regulatory policies and changes in the competitive environment
in which Wescast operates. Wescast does not undertake any obligation to update or release
any revisions to these forward-looking statements to reflect events or circumstances after
the date of this Annual Information Form or to reflect the occurrence of unanticipated
events, except as required by law.

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TABLE OF CONTENTS

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|                                                          
|CORPORATE STRUCTURE                                       
|                                                          
|Name and Incorporation                                    
|Intercorporate Relationships                              
|                                                          
|GENERAL DEVELOPMENT OF THE BUSINESS                       
|                                                          
|DESCRIPTION OF THE BUSINESS                               
|                                                          
|General                                                   
|Sales and Marketing                                       
|Sources, Pricing and Availability of Raw Materials        
|Seasonality                                               
|Recent Trends in the Automotive Industry                  
|Competition                                               
|Research and Development Activities                       
|Economic/Contract Dependence                              
|Environmental                                             
|Human Resources                                           
|Credit Facilities                                         
|Litigation                                                
|Principal Properties                                      
|Risk Factors                                              
|                                                          
|DIVIDENDS                                                 
|                                                          
|DESCRIPTION OF CAPITAL STRUCTURE                          
|                                                          
|MARKET FOR SECURITIES                                     
|                                                          
|Trading Price and Volume                                  
|Takeover Bid Protection                                   
|                                                          
|DIRECTORS AND OFFICERS                                    
|                                                          
|Directors - Name, Occupation & Security Holdings          
|Committee Memberships                                     
|Executive Officers                                        
|Additional Disclosure for Directors and Executive Officers
|                                                          
|TRANSFER AGENT AND REGISTRAR                              
|                                                          
|NAMES AND INTERESTS OF EXPERTS                            
|                                                          
|CODE OF ETHICS                                            
|                                                          
|AUDIT COMMITTEE INFORMATION                               
|                                                          
|MATERIAL CONTRACTS                                        
|                                                          
|ADDITIONAL INFORMATION                                    
|                                                          
|                                                          
|APPENDIX 1 - AUDIT COMMITTEE CHARTER                      
|                                                          

* Reference: Parts of the
2004 Management's Discussion & Analysis of Wescast Industries Inc. for the year ended January 2, 2005
(MD & A ) are incorporated by reference into this Annual Information Form.

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# CORPORATE STRUCTURE

# Name and Incorporation

Pursuant to articles of amalgamation
dated October 31, 1994, Wescast Industries Inc. amalgamated with Western Machining Inc.
and LFT Investments Ltd. under the Business Corporations Act(Ontario) to form
Wescast Industries Inc. (Wescast). References to Wescast or the
Company in this Annual Information Form (AIF) include Wescast
Industries Inc. and its subsidiaries. Wescasts corporate office is located at 150
Savannah Oaks Drive, Brantford, Ontario, N3T 5L8. Wescasts registered office is
located at 200 Water Street, Wingham, Ontario, N0G 2W0.

# Intercorporate
Relationships

The following is a list of
subsidiaries of Wescast Industries Inc. as of January 2, 2005 and their respective
jurisdictions of incorporation.

|                                        |  |                
|--------------------------------------- |  | ---------------
|                                       
|                                        |  | Jurisdiction of
|Principal Subsidiaries of Wescast       |  | Incorporation  
|                                        |  |                
|                                       
|1102734 Ontario Inc.                    |  | Ontario        
|                                       
|1277521 Ontario Inc.                    |  | Ontario        
|                                       
|Wescast Industries GmbH                 |  | Germany        
|                                       
|Wescast U.K. Limited                    |  | England        
|                                       
|Wescast Japan, K.K                      |  | Japan          
|                                       
|Wescast France SARL                     |  | France         
|                                       
|Weslin Industries Inc.                  |  | Ontario        
|                                       
|   Wescast Hungary Autoipari Rt.       |  | Hungary        
|                                       
|Wescast Holdings USA, Inc.              |  | Delaware       
|                                       
|    Wescast (USA) Inc.                 |  | Delaware       
|                                       
|   Wescast Industries of Georgia, Inc. |  | Delaware       
|                                       
|- Wescast Industries Cordele, LLC       |  | Delaware       
|                                        | 
|                                       
|United Machining Inc.                   |  | Michigan       
|                                       

(1)  
          Wescast owns 100% of the outstanding shares of all subsidiaries except for
          United Machining Inc., of which Wescast owns 49% of the outstanding shares.

# GENERAL DEVELOPMENT OF
THE BUSINESS

Wescast is the successor to a company
founded in 1901. The Company currently operates in the automotive industry, where
substantially all of its revenues are generated through the sale of exhaust manifolds and
related products.

On November 1, 1994, Wescast
completed an initial public offering of Class A Subordinate Voting Shares (Class A
Shares) and the Class A Shares began trading on the NASDAQ Stock Market.

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In January
1996, Wescasts Class A Shares commenced trading on the Toronto Stock Exchange.

In early 1998, Wescast acquired a 49%
joint venture interest in United Machining Inc. (UMI). The Michigan Minority
Business Development Council certified UMI as a minority supply source. This
certification enables UMI to bid on business that it might otherwise not be able to.

Since 1998, Wescast has established
sales and technical development centres in the United States, Germany, United Kingdom,
France and Japan. These initiatives are intended to support the Companys present and
future customers and to assist in future growth.

In 2000, a state of the art casting
facility in Wingham, Ontario was successfully launched. Also in 2000, Wescast moved its US
joint venture, UMI, into a new expanded production facility to accommodate increased
volumes. In 2000, an addition to the Wingham machining facility was completed to provide
for additional machine lines to accommodate new programs.

In 2001, Weslin Industries Inc., a
joint venture between Wescast and Linamar Corporation, commissioned a state of the art
foundry and integrated machining facility. This facility is located in Oroszlany, Hungary.

During 2001, the decision was made to
close Wescasts stainless steel facility in Stratford. All costs associated with the
shutdown were reflected in the Companys 2001 fiscal year. As of June 30, 2002, all
production programs of the stainless steel business were transferred to other
manufacturers. Several of the related manufacturing assets were transferred to other
operating facilities and we are currently pursuing buyers for the remainder of the assets.

In 2002, Wescast became one of the
first foundries to achieve ISO/TS 16949 certification at all five of its Ontario
manufacturing facilities. This international quality system defines system and process
expectations to ensure on-time delivery, cost control and quality assurance. It is
recognized and required by all major original equipment manufacturers (OEMs)
and replaced QS-9000. This certification recognizes Wescasts strong commitment to
customer requirements and quality.

Wescast entered the chassis segment
in 2002 with the acquisition of 100% of Georgia Ductile Foundries, LLC (renamed Wescast
Industries Cordele, LLC, Cordele). Cordele is a manufacturer of sand cast iron
components primarily for the automotive industry, focusing on suspension and brake
components. The total purchase price, including the assumption of debt, was $123 million.

During 2002, Wescast also completed
construction of a new Technical Development Centre and Corporate Office, the Richard W.
LeVan Centre. This centre is the home for the corporate support group including the
technical teams which have been relocated from various facilities.

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It consolidates all of
the Companys research and development, product design and testing activities in one
state-of- the- art facility, and houses a mini-foundry and a machine shop for making
prototypes and for advanced engineering projects.

A sales and design office located in
Yokohama, Japan, opened in late October, 2003. Wescast believes that increasing its
presence with full-time local support provides benefits to current and new customers
within the Asian market. This office is expected to network with the Companys other
sales and design centres in North America and Europe to design and develop cast products
and systems for the powertrain segment.

In late 2003, the Company completed
its impairment test of the goodwill acquired in conjunction with the 2002 acquisition of
Cordele. The impairment test was carried out to determine whether the fair value of the
Cordele operation supported the carrying value of the operations net assets
including goodwill. As a result of the review, it was concluded that the goodwill was
fully impaired. The Company recorded a pre-tax non-cash goodwill impairment charge of
$41.5 million ($27.4 million, after tax) related to its chassis segment.

In June 2004, the Company adopted a
revised customer-driven global powertrain strategy built on its successful core competency
of designing, casting and machining powertrain components.

In July 2004, and in light of this
revised strategy, the Company announced its decision to exit the chassis business
conducted at its Cordele, Georgia operation. The impact of severe downward pressure on
market prices and increased offshore competition combined with the escalation of raw
materials costs, and inconsistent operating performance resulted in the chassis business
falling well short of financial performance targets. With the assistance of outside
advisors, the Company has been marketing this business for sale as a going concern. The
Company has not been able to secure a buyer for the business. As a result, the Company has
decided to wind down the facility and it is estimated that all production activities will
be concluded at the Cordele operation by the end of the second quarter of 2005. The
Company will coordinate with existing customers to ensure a continuity of supply while
production requirements are transferred to other suppliers. The Company will be pursuing
buyers for the manufacturing assets and property subsequent to completion of production.
In 2004, the Company recorded a $61.6 million net loss for the Cordele facility and
reclassified the operation as discontinued.

In August 2004, Wescast acquired
Linamar Corporations 50% interest in Weslin Industries Inc., pursuant to the terms
of the joint-venture agreement between the parties.

Wescast sees high potential in
further expanding the powertrain business further by following its customers into the
Asian marketplace. The Company continues to evaluate both the threats and opportunities
that may exist in the emerging automotive industry in Asia, specifically China. The
Company views the emerging domestic market opportunities in Asia to be well aligned with
its global powertrain strategy. Throughout 2004, the Company was actively

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reviewing
specific business opportunities with potential business partners in Asia that will enable
the Company to participate in this market.

In February 2005, the Company
announced its decision to close its Brantford, Ontario foundry operation and expects to
phase out this operation during the course of 2005. It is anticipated that the Brantford
foundry will start transferring production requirements to other manufacturing facilities
starting in April 2005, with the transition to be completed by the end of 2005. With the
closure of the Brantford foundry, it is anticipated that approximately $25 million of
operating costs can be eliminated on an annualized basis starting in 2006. Effective
capacity utilization at the two Wingham foundries is expected to increase to a level in
excess of 90%, allowing for greater efficiencies and improved capital asset utilization.
The Company expects further savings and synergies associated with having three of its
production facilities in close geographic proximity to one another. The closure of the
Brantford foundry is expected to affect approximately 340 hourly and salaried employees,
although there may be some opportunities for employees to transfer to the Wingham
locations. The Company believes that the efficiency gains targeted in the Companys
core North American powertrain operations will allow the Company to become more
cost-competitive.

In 2005, the focus of the
Companys core powertrain segment in North America will continue to become more
cost-competitive in an effort to address the significant pressure on pricing that is being
exerted by customers. This pressure has intensified with the growing threat from
competitors based in low-cost countries, especially China, as well as increased raw
material costs and lower Domestic Big 3 (as defined below) market share. To meet these
challenges, the Company intends to continue to pursue aggressive year-over-year
cost-reduction targets in the foundry and machining operations.

In 2005, the focus of the
Companys European powertrain segment Wescast Hungary Rt. (Wescast
Hungary) will be to improve operating metrics and achieve the successful launch of
six new programs which includes machine line commissioning. This segment is also
experiencing high raw material costs for scrap steel and moly.

The Company plans to maintain its
commitment to fund research and development activities, focusing on three specific areas,
namely: product, process and materials.

For additional information regarding
the general development of Wescasts business, see pages 1 to 15 and 20 to 47 of the
2004 Annual Report of Wescast Industries Inc. which pages are incorporated herein by
reference.

# DESCRIPTION OF THE
BUSINESS

# General

Companies which supply directly to
OEMs and which design, engineer and manufacture are generally referred to in the
automotive industry as Tier 1 suppliers. Tier 1 suppliers may be

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awarded
longer term purchase orders by OEMs as a result of their involvement in the development or
design of the product with the OEM. Tier 1 suppliers generally have the capability to
supply these components on a just-in-time basis which helps the OEMs reduce or otherwise
better manage inventory levels.

As a Tier 1 supplier, Wescast
currently designs, casts, machines and assembles high-quality engineered iron products for
the automotive industry. Its resources are strategically aligned to meet the unique
customer-specific requirements in two geographic segments  North America and Europe.
The Companys manufacturing facilities, where appropriate, are geographically
situated to align with the physical location of its customer base. The Company believes
that the combination of its design and high-quality manufacturing creates unique value for
the customers in the markets that it serves.

The exhaust manifold is a critical
engine component because its design affects overall engine performance, including fuel
efficiency, output horsepower, effectiveness of the catalytic converter, environmental
emissions and engine sound volume. The production of exhaust manifolds is essentially a
two-step process consisting of: (1) casting, which is the pouring of molten iron into sand
molds; and (2) machining, which is the finishing of the raw exhaust manifold by milling,
drilling, tapping, assembling and testing by highly-automated machines to prepare the
exhaust manifold for final assembly on the engine. Wescasts exhaust manifolds are
made of ductile iron or high alloy SiMo ductile iron, and currently cast at foundries in
Brantford and Wingham, Ontario and in Oroszlany, Hungary. They are machined in Wingham and
Strathroy, Ontario, Sterling Heights, Michigan and in Oroszlany, Hungary. The manifolds
are designed, engineered and manufactured in close collaboration with the Companys
customers to meet their performance, pricing and quality requirements.

In 2004, Wescasts operations
were conducted primarily in Canada, the United States and Hungary; however, most of its
products were exported to the United States and Europe. For the fiscal year ended January
2, 2005, consolidated sales to the Companys three largest customers, General Motors,
Ford Motor Company and DaimlerChrysler amounted to 88% of consolidated sales (compared to
84% of consolidated sales in 2003).

The North American powertrain segment
is focused on the design and manufacturing of exhaust system components for sale primarily
to General Motors, Ford Motor Company and DaimlerChrysler (the Domestic Big 3)
as well as Tier 1 customers for car and light truck markets in North America and Europe.
The Companys powertrain operations in North America are well established and in the
fiscal year ended January 2, 2005 represented 92% of consolidated sales compared to 95% in
the preceding fiscal year.

The European powertrain segment is
conducted through Wescast Hungary, a relatively new operation. The European operation
represents a developing business and comprised 8% of the Companys consolidated sales
in the fiscal year ended January 2, 2005, compared to 5% in 2003. In January 2003,
commercial production began and since then, Wescast Hungary has

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captured 6% of the
European market with a premier customer list that includes Renault, Honeywell (formerly
Garrett), BorgWarner, Volkswagen, Audi and Ford of Europe. Europe represents
Wescasts best near-term opportunity to expand its customer base through our ability
to design, cast and machine manifolds, integrated turbo manifolds and turbo housings
 a distinct strategic advantage in a growing market. The European market also
includes a high percentage of diesel engines  another opportunity for growth for
turbo charger housings.

Over the longer term, we expect the
turbo market to grow in North America as the market here turns to diesel as an alternative
to increasing gasoline prices. Diesel is the obvious successor to gasoline because of its
lower price and ease with which it fits in to the North American infrastructure. Our
expertise in turbo diesel exhaust applications will enable us to capitalize on these
opportunities when the time is right.

# Sales and Marketing

Wescast sells its products to North
American OEMs, located in Canada and the US through our sales personnel located at our
U.S. sales office in Michigan. Sales to OEMs in Europe are made through the Companys
sales office located in Kassel, Germany. We also have sales offices in the United Kingdom,
France and Japan.

The Company typically receives a
purchase order to produce a particular product for one or more model years. However, firm
orders are usually created only when Wescast receives releases under such purchase orders,
authorizing the Company to produce and deliver specific quantities of the product. Once a
purchase order is received by the Company from an OEM, the actual volume produced under
the purchase order in any given year is dependent upon the actual number of engines
produced or planned to be produced by the OEM. Actual OEM production levels of a
particular engine program may vary significantly from OEM estimates and such product may
be delayed or cancelled, often without any compensation to Wescast. The Company has seen a
change in the sourcing practices of its OEM customers, as it relates to the Companys
products. The historical experience was for a customer to award the supplier with the
commercial production requirements for a product related to a specific engine program.
Assuming delivery, quality, and other performance criteria were maintained, the supplier
would retain and supply the product over the life of the engine program. Customers now
routinely market test their purchasing requirements globally, and throughout the life of
the engine program, to ensure they are continuing to receive globally competitive pricing.
This accelerates the timeframe over which the Companys current business can be
impacted by global competition. Although OEMs are not usually contractually committed to
using a particular manufacturer to supply a product throughout the time such product is
required by the OEM, it has been the Companys experience that once a commercial
production order for a product for a particular engine has been obtained, the Company will
generally continue to produce that product throughout the entire time the product is
required by the OEM.

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In certain circumstances, the Company
may also obtain production programs on a takeover basis. These programs are
typically already in production at OEM facilities or the facilities of our competitors
and, for various reasons, are re-sourced to Wescast.

# Sources, Pricing and
Availability of Raw Materials

The Companys production costs
are dependent on the price of certain raw materials and other commodities, including scrap
steel, molybdenum (moly) and electricity.

Scrap Steel Pricing

The key drivers to the significant
upward price movement for steel has come from two fronts: One, the incremental demand of
material moving off-shore, primarily to China; and the strong US economy which has seen US
steel mills operating at over 90% capacity. Chinas exponential growth continues to
push the Pacific Rim region to be a large importer of scrap steel, primarily from Europe
and North America. Pricing of scrap steel in Canada is heavily influenced by this
export pressure and has been somewhat softened by the rising Canadian dollar
against the US currency. Market forecasters have had difficulty in making accurate
predictions, as the circumstances in 2004 were unprecedented in recent history. Only
recently has the price of steel shown some signs of stability. While prices are predicted
to drop in 2005 from their high point of $512 Canadian/ton in 2004, the prediction is that
a new baseline will be established in the $300-$350 range. The Company has only limited
ability to influence pricing partially due to its material specifications, but more
importantly due to the global competition for Ontarios scrap steel.

The factors that mainly influence the
cost and supply of foundry scrap steel include: overseas demand, availability of scrap
alternatives, increased use of high strength steel, offshore manufacturing and normal
market factors.

However, Ontario is a net exporter of
scrap steel and the Company believes that there is not an overall supply risk. The Company
obtains the majority of its scrap steel from two producers in Ontario.

Molybdenum Pricing

The Company experienced an
unprecedented upwards climb in molybdenum pricing throughout 2004. As a commodity that has
no futures market, pricing has increased exponentially over the past 30 months. While the
15 year average price for moly prior to 2002 was under $4 US per pound, the average price
per pound which the Company experienced in 2004 was $15 US per pound and has since reached
$34 US per pound. Unlike previous years where the demand has been fairly stable, 2004 saw
a large increase in demand and a supply base that has been unable to meet demand. There
are two primary reasons for the rising prices witnessed in 2004. The first relates to
global economic strength, specifically in China. Europe

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remains the largest consumer of
moly followed by Asia (primarily China and Japan) and then North America. Europe and
Japans appetite for moly used in stainless steel production facilities remains a key
driver in this increasing demand. China has begun to reduce its exports of moly in order
to support its own domestic requirements. The second reason is a lack of global capacity
to convert moly concentrates to moly oxide and then finally to ferro-moly, which is the
form used by the Company. The research and manufacturing groups are evaluating alternate
materials to use in the Companys production processes.

The primary sources of supply of
molybdenum are the United States, China, Chile, Russia and Canada. There are currently
three suppliers in North America and one broker in China. The factors that influence the
cost and supply of molybdenum include: global demand, environmental issues and merchant
activity.

The Company has a current agreement
with a North American supplier to ensure up to 110% coverage of the Companys 2005
forecasted volume requirements. Additional volume can be supplemented by spot purchases.

The following graph shows the trend in steel and moly pricing for 2003 to 2004.



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Electricity Pricing

The Companys Foundry Technology
group maintains an electrical forecasting model for each plant which incorporates various
operations data to estimate how much electrical energy is required and when it will be
used. Energy cost varies on an hourly basis and its variability changes throughout the
year. In order to manage the price risk, the Companys approach has been to obtain a
fixed price contract for approximately 80% of the operating demand in the on-peak period
equating to about 95% of the on-peak energy requirement. The remainder of the energy is
purchased at the Hourly Ontario Energy Price (HOEP). Energy delivery costs are regulated
by the Ontario Energy Board (OEB).

Natural Gas Pricing

The Companys Foundry Technology
and Materials & Procurement groups establish natural gas purchase contracts in
September and November of each year. This fixes the Companys cost of natural gas for
the following year. Included in the total cost of gas are delivery and transportation
charges which represent approximately 25% of the Companys total cost of natural gas.
The delivery tariffs are regulated by the OEB.

The inability to maintain current
sources for raw materials or energy or to develop alternate sources at competitive prices
and quality could adversely affect the Companys financial condition and results of
operations.

# Seasonality

Historically, Wescasts sales
and production volumes are generally lower in the months of July and August of each year
due to summer shutdowns and model changeovers by the OEMs. Also, North American production
volumes are usually lower during the months of December and January of each year because
of the Domestic Big 3 shutdowns associated with the Christmas and New Years holiday
season.

# Recent Trends in the
Automotive Industry

The Company believes that the
following industry trends are driving opportunity and placing demands on suppliers.

Increasing pricing
pressure on automotive suppliers

Lowest cost has become the single
most important deciding factor by the Domestic Big 3 in sourcing new business to
automotive suppliers. This has been caused by the fierce competition among all of them and
the extreme financial pressure and loss of market share that the Domestic Big 3 have been
experiencing. Increasing price reduction pressures from the Companys customers could
reduce profit margins. Historically, the Company has entered

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into, and will continue to
enter into, supply agreements with its customers that provide for, among other things,
price concessions over the term of the agreement. In the past, these concessions have been
largely offset by cost reductions resulting from product and process improvements. The
competitive global automotive industry environment has caused these pricing pressures to
intensify. To the extent that these price reductions continue in the future and are not
offset through cost reductions, the Companys future profit margins may be adversely
affected.

Evolving role of
automotive suppliers with respect to technology and innovation

OEMs have placed more and more
responsibility for technology and design on Tier 1 suppliers such as Wescast. Suppliers
are expected to bring new technology through design, new materials and new processes to
help OEMs gain an edge with respect to competition.

Increasing outsourcing
and processing

As the Domestic Big 3 strive to
reduce capital expenditures and operating expenses, they have increasingly outsourced
their requirements for assemblies and components. This is one of the reasons that Wescast
has seen its machining penetration increase over recent years, along with an increase in
sub-assembly work performed at Wescasts machine shops. In 2004, Wescasts North
American machining penetration increased from 78% to 83% (meaning Wescast machined 83% of
the manifolds that it cast). This trend represents an increase in total machining
penetration of more than 20% since 2000. Wescast believes that the significant cost and
competitive pressures faced by the Domestic Big 3, combined with the expansion in the
capabilities of their suppliers, has resulted in the Domestic Big 3 looking to their
suppliers to design and deliver fewer components and more automotive systems
which reduces complexity and costs for the Domestic Big 3.

Globalization and
consolidation of the automotive supply base

The Domestic Big 3 are working to
reduce the number of suppliers they have and fewer, larger, competent suppliers with
global reach and capabilities will emerge. Tier 1 suppliers such as Wescast are required
to have the financial strength, technical capabilities and geographic reach required to
support the design, engineering, manufacturing, sales and program support needs of the
Domestic Big 3 in many countries. The cost pressure faced by the Domestic Big 3 has
resulted in the development by them of global platforms. In order to achieve economies of
scale on a worldwide basis, the Domestic Big 3 are increasingly developing vehicles based
on common platforms. These world cars result in significantly reduced design,
development and engineering costs and maximize the purchasing power of the Domestic Big 3
with respect to raw materials required in their production.

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Powertrain technology

Trends that specifically impact the
Companys core manifold business are those inherent to the internal combustion
engine. These trends will continue driving current and future engine technology for quite
some time and these include better engine performance, tighter emission regulations, lower
cost, better fuel economy, lower weight, higher temperature requirements and increased
diesel applications.

New engine technologies

Wescast continues to monitor new
engine technologies, including fuel cell technology. The Company believes that there are
several barriers to the success of fuel cell technology which include:

| |  |  | the relative cost of the product. The fuel cell stack and hydrocarbon reformer components are
very expensive, as high as 4-10 times the cost of an internal combustion engine;
| | - |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| |  |  | hydrogen  infrastructure  would require  hundreds of billions of dollars to
implement  and refit  existing fuel stations;
| | - |  | -------------------------------------------------------------------------------------------------------------------------

| |  |  | competitive technologies such as the internal combustion engine and hybrid technology
(which requires an exhaust manifold) will continue to make improvements with respect to
emissions and fuel economy to counter this possible threat; and
| | - |  | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| |  |  | fuel cell technology will encounter political barriers as a large number of businesses and
employment stem from the existence of the internal combustion engine.
| | - |  | ----------------------------------------------------------------------------------------------------------------------------------------------------------------

# Competition

The exhaust manifold business is
highly competitive. The Company believes that the primary elements of this competition are
price, quality and service, including delivery time. The worldwide demand for exhaust
manifolds is basically satisfied by two distinct types or styles of manifold designs:
fabricated and cast. Wescasts manifold production is exclusively focused on cast
manifolds. A cast manifold is produced using various grades of ductile iron, each with
different temperature and performance characteristics, using a green sand mould process.
The manufacture of fabricated manifolds involves the bending and welding of steel tubes to
meet the shape and style of the product design. In North America, the use of cast iron
manifolds has traditionally dominated the marketplace. Cast manifold designs are currently
estimated by the Company to represent approximately 80% of the overall demand for
manifolds in North America. In other parts of the world fabricated manifolds command a far
greater share of the marketplace. The Company estimates that 45% of the current worldwide
demand for exhaust manifold production is represented by fabricated designs. The
difference in demand is influenced by customer preferences, historical use and production
volume levels.

Wescasts overall share of the
North American exhaust manifold market totalled approximately 55% in the fiscal year 2004
(holding steady from approximately 55% in fiscal year 2003),

|                        |                         |        
|----------------------- | ----------------------- | -------
|wescast industries inc. | Annual Information Form | Page 14

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based upon the total number
of passenger cars and light trucks produced in North America. The decrease in market share
was mainly due to our loss of market share at Ford, as it resourced four programs to
Chinese suppliers. These lost programs, combined with less demand for the General Motors
GEN III V8 and L850 programs, more than offset increased demand on newly launched General
Motors 3500 V6, General Motors 3.6L HF V6, and DaimlerChrysler 2.7L and 3.5L LX manifold
programs.

Wescast believes that it has
distinguished itself from its North American and international competitors by taking a
focused factory approach on manufacturing cast exhaust manifolds. Wescast also believes
this specialization has enabled it to become a technological leader in the manufacture of
exhaust manifolds and to capture efficiencies by reducing variation in its manufacturing
processes. The Companys exhaust manifold design, development, quality and production
capabilities have been recognized by its customers on numerous occasions.

The Companys competitors
include U.S. and international suppliers who may enjoy lower labour and other costs and
may not be subject to the currency risks that the Company bears. While the Company is the
largest producer of exhaust manifolds for the North American market, many of its
competitors or potential competitors are larger and more diversified and have greater
resources than the Company. There can be no assurance that Wescasts business will
not be adversely affected by increased competition in the market in which it currently
operates or in markets in which it will operate in the future, or that the Company will be
able to improve or maintain its profit margins on sales to OEMs or their suppliers.

# Research and Development
Activities

Wescast spent approximately $6.6
million on research and development activities in 2004. The Company believes that products
that are highly engineered generally carry better returns than simple commodity-type
products, and that a significant portion of new programs in recent years have been the
result of the Companys design and engineering capabilities and product innovation.

Wescast believes that its engineering
and design capabilities are well suited to meet the changing needs of its current and
potential customers. Wescast believes that such customers are faced with, among others,
the following specific needs:

| |  |  | the need to reduce engine emission levels;
| | - |  | ------------------------------------------

| |  |  | the need to deal with higher engine temperatures through new materials;
| | - |  | -----------------------------------------------------------------------

| |  |  | the need to meet customer-driven demand for high horsepower levels, given the constraints above; and
| | - |  | ----------------------------------------------------------------------------------------------------

| |  |  | the  potential  for an increased use of  diesel-powered  vehicles in North America to help meet  corporate average
fuel economy (CAFE) levels.
| | - |  | ------------------------------------------------------------------------------------------------------------------------------------------------

In 2004, the Company implemented a
Product Knowledge Management system that consolidates and controls all sales, design and
quality product data electronically as it relates to

|                        |                         |        
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|wescast industries inc. | Annual Information Form | Page 15

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the Advanced Quality Planning
process. This system is a large centralized database available to functional groups
containing product data organized by program and part number. It is a workflow
engine that provides process management and automation along with a
visualization tool that allows viewing, markup and interrogation of product geometry in
two and three dimensions. The practice of managing and leveraging product information and
knowledge more effectively translates into faster cycle times, better quality products,
increased innovation, improved profitability and improved customer satisfaction.

Wescast has also introduced an
Evergreen system, a process designed to manage the development of new
technology in the areas of process, products and materials across our organization. The
benefits of this system include improved partnership between manufacturing and technology
groups, improved management of priorities and resources, and technology protection.

# Economic/Contract
Dependence

The Company is largely dependent upon
three customers, the domestic Big 3 automakers. As a result, it is exposed to any loss in
market share or less-than-projected light vehicle sales by General Motors, Ford and
DaimlerChrysler, for which the Company supplies powertrain components.

The Companys top five North
American powertrain programs projected for 2005, based on unit production, are represented
by the following customer platforms:

|                |  |                         
|--------------- |  | ------------------------
|
|
|OEM             |  | Platform/Program        
|               
|GM              |  | 4.8/5.3/6.0L GEN III V8 
|               
|Ford            |  | 5.4 L 3V V8             
|               
|Ford / Navistar |  | 6.0 L V8 Navistar Diesel
|               
|GM              |  | 3500 V6                 
|               
|Nissan          |  | 3.5 L ZV5 V6            
|               

Penetration of non-Big 3 customers
would assist Wescast to diversify its revenue base and reduce this concentration of risk.
The expansion of the Companys global business platform will aid in these
diversification efforts.

|                        |                         |        
|----------------------- | ----------------------- | -------
|wescast industries inc. | Annual Information Form | Page 16

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The Companys top five
powertrain programs in Europe projected for 2005, based on unit production are represented
by the following customer platforms:

|           |  |                 
|---------- |  | ----------------
|
|
|          
|OEM        |  | Platform/Program
|          
|Ford       |  | 4.0L SOHC V6    
|          
|BorgWarner |  | 1.5L Diesel I4  
|          
|Ford       |  | 4.0L SOHC V6    
|          
|           |  |                 
|BorgWarner |  | 1.3L GM/Fiat    
|          
|Audi       |  | 1.6L I4         
|          

The Company could be negatively
impacted by government regulations, including U.S. Corporate Average Fuel Economy
standards or emissions regulations and Canadian, European and American federal,
provincial, state and local environmental laws and regulations that have an adverse impact
on the automotive industry. New product research at Wescast is focused on innovations that
will allow the Company to take advantage of these changes.

# Environmental

Wescast believes it has established
and maintains sound environmental practices. The ISO 14001 Environmental Management System
International Standard is now integrated into the culture of Wescast. The most significant
benefit from implementing ISO 14001 is the ability to demonstrate, through third party
verification, Wescasts degree of success in protecting the environment. The Company
monitors and controls the impact of all production processes, and has developed policies,
which in conjunction with its compliance with laws and regulations, have the objective of
assuring a safe and healthy environment for its employees and communities. For example,
Wescast has indoor air and noise monitoring programs in place at all facilities to ensure
employee protection and shares those results with employees through its intranet site.
External stack emissions are regulated by the Ministry of Environment and Wescasts
ventilation systems have been designed to maintain external emissions below regulated
limits. Some facilities must also meet external noise requirements to ensure public
disturbance is minimized and monitoring is in place for this purpose. Wescast strives to
reduce water usage wherever possible through different cooling strategies and maintaining
and optimizing equipment. Storm water that leaves Wescast sites is also monitored.

The Company strives to recycle
materials wherever possible. In order to be environmentally conscious and help offset
rising raw material costs, metal chips from our machining facilities are re-melted in our
foundry operations. In 2003, equipment was installed to process the metal chips for
re-melt internally, further reducing the environmental impact and costs of trucking to an
outside company for processing. Wescast recycles or reuses almost 100% of the spent
foundry materials either in-house or off-site.

|                        |                         |        
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|wescast industries inc. | Annual Information Form | Page 17

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Internal environmental compliance
audits and internal and external system audits are performed two times per year. Through
the Companys standardized Environmental Operating System (EOS) measurables at all of
its facilities, it monitors opportunities to maximize recycling opportunities, reduce
waste, employ efficient energy management and encourage the sharing of best management
practices.

Wescast believes that existing
environmental laws and regulations have not had a significant material effect on
Wescasts operations or financial condition. In 2003, the cost to operate and
maintain emission control equipment and environmental monitoring and measurement at our
Ontario facilities was approximately $5.0 million. Environmental monitoring and
measurement for Wescast Hungary was approximately $300,000. Spending on capital
improvements at these facilities relating to environmental practices was approximately
$500,000.

The Company anticipates that in
future years the amount of annual expenditures in respect of environmental operating
expenses will remain substantially similar to such expenditures in the past year.

# Human Resources

Wescast believes that an integral
part of its success and reputation for quality and performance is due to each
employees effort to maintain a commitment to excellence. In the late 1980s,
Wescast began the process of developing a participative management process designed around
the principles of identity, participation, competence, and equity. The formal plan became
effective on July 1, 1989, and was named HEART (Helping Everyone Achieve Rewards
Together). The components and structure of the plan, including an employee bonus plan, are
reviewed and updated on a regular basis.

As at January 2, 2005, Wescast had
approximately 2,500 employees (including employees of Wescast Hungary Autoipari Rt. and
Wescast Cordele LLC (but excluding employees of the joint venture at United Machining Inc.
in Michigan).

The Companys manufacturing
employees have specialized manufacturing process and tooling design expertise. The
engineering and design staff have specialized manifold design, analysis and testing
expertise, and the research group has proprietary materials knowledge, process and product
knowledge.

The Canadian Auto Workers
(CAW) union represents approximately 44% of the total number of the
Companys employees pursuant to four collective agreements. The agreement relating to
Wescasts two Wingham casting facilities, covering approximately 420 employees will
expire on June 30, 2005. The Company believes that relations between the CAW and
management are good and that these collective agreements will be successfully
renegotiated. Collective labour agreements in place at the Wingham Machining, Strathroy
Machining and Brantford Casting facilities, representing approximately 700 CAW employees,
expired in 2004.

|                        |                         |        
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|wescast industries inc. | Annual Information Form | Page 18

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The Strathroy Machining contract was settled after a 10 day work stoppage
and the Wingham Machining contract was settled after a 4 day work stoppage. A new 3-year
contract at the Brantford facility was successfully negotiated without any work stoppages.
No customer shipments were delayed during any of these negotiations.

In July 2004, the Company announced
its intention to exit the chassis business. As the Company has not been able to
successfully negotiate a sale of this business, Wescast has decided to wind down the
chassis business by the end of the second quarter of 2005. This will affect approximately
350 employees.

In February 2005, the Company
announced its intention to phase out the Brantford facility in 2005. This decision will
affect approximately 340 employees. Management has entered into discussions with Union
leadership on how to provide appropriate support to those affected.

# Credit Facilities

In December 2004, the Company amended
its banking facilities. A credit agreement was put in place that provides for a committed
revolving credit facility in the amount of $125 million through December 2007. The
facility, which is unsecured, is guaranteed by the Company and one material subsidiary,
Wescast Hungary. As of January 2, 2005, $93.9 million was available under the facility.

The credit agreement requires the
Company to maintain certain financial ratios and imposes limitations on specified
activities. The Company was in compliance with these covenants at January 2, 2005.

Borrowings under the credit agreement
are available as selected by the Company by way of: i) Prime Loans, ii) U.S. Base Rate
Loans, iii) LIBOR Loans, iv) Bankers Acceptances, and v) Letter of Credit or Letter
of Guarantee, plus applicable interest rate margin. The margin varies depending on
specified financial ratios.

|                        |                         |        
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|wescast industries inc. | Annual Information Form | Page 19

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# Litigation

The Company is not a party to, nor is
any of its property the subject of, any legal proceedings involving a claim for damages
exceeding 10% of the current assets of the Company.

# Principal Properties

The Companys principal
facilities as at January 2, 2005 are listed below:

|                                               | 
|---------------------------------------------- | 
|
|
|                                               | 
|                                              
|200 Water Street, Wingham, Ontario             | 
|R.R.#4, Wingham, Ontario                       | 
|799 Powerline Road W., Brantford, Ontario      | 
|100 Water Street ,Wingham, Ontario             | 
|28648 Centre Road,  Strathroy, Ontario         | 
|150 Savannah Oaks Drive Brantford, Ontario     | 
|                                               | 
|                                               | 
|                                              
|2840 Oroszlany, Szent Borbala u. 16            | 
|                                               | 
|                                               | 
|                                              
|402 George Mathews Drive, Cordele, Georgia     | 
|                                               | 
|49% owned joint venture                        | 
|6300 - 181/2Mile Rd Sterling Heights, Michigan | 

Wescast currently operates its
manufacturing facilities on a multi-shift basis. As disclosed above, the Company has
announced its intention to phase out the Brantford casting facility over the course of
2005. Wescast believes that the two Wingham casting foundries will be adequate to meet its
anticipated production requirements for the foreseeable future. The Company does not have
any immediate plans for the Brantford facility and is reviewing various alternatives.

As previously disclosed, the Company
will also be winding down the Cordele casting operation in 2005.

# DIVIDENDS

Wescast started paying cash dividends
on its Class A Shares and Class B Common Shares on a quarterly basis in 1995. Unless the
Board of Directors determines otherwise, the Companys policy is to generally set its
annual dividend to approximately 10% of the previous years net earnings.

|                        |                         |        
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|wescast industries inc. | Annual Information Form | Page 20

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The following table outlines the
amount of cash dividends declared per share for the Class A Shares and Class B Common
Shares for each of the three most recently completed financial years.

|              
|--------------
|Dividends Paid
|              
|              
|2004          
|              
|2003          
|              
|2002          
|              

In February 2005, the Board of
Directors approved a reduction in the quarterly dividend payment from $0.12 Canadian
to $0.06 Canadian. The Companys current intention is to pay quarterly dividends of
$0.06 per share in 2005. The declaration and payment of dividends is at the sole
discretion of the Board of Directors.

# DESCRIPTION OF CAPITAL
STRUCTURE

# Authorized Capital

The classes and maximum number of
shares that the Company is authorized to issue include:

| | (i) |  | an unlimited number of Class A Shares;
| | --- |  | --------------------------------------

| | (ii) |  | 9,000,000 Class B Common Shares; and
| | ---- |  | ------------------------------------

| | (iii) |  | an unlimited number of preference
shares, issuable in series (the Preference Shares).
| | ----- |  | ---------------------------------------------------------------------------------------

No Preference Shares have been
issued.

# Dividends

The holders of Class A Shares and
Class B Common Shares shall be entitled to receive dividends and the Company shall pay
dividends, as and when declared by the Board of Directors. All dividends declared on both
the Class A Shares and Class B Common Shares shall be paid in equal amounts per share and
at the same time. The Preference Shares shall be entitled to priority over the Class A
Shares and Class B Common Shares of the Company and over any other shares of any other
class of the Company ranking junior to the Preference Shares with respect to priority in
the payment of dividends and the return of capital and the distribution of assets in the
event of the liquidation, dissolution or winding-up of the Company, whether voluntary or
involuntary, or any other distribution of the assets of the Company among its shareholders
for the purpose of winding-up its affairs.

|                        |                         |        
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|wescast industries inc. | Annual Information Form | Page 21

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# Dissolution

In the event of the liquidation,
dissolution or winding-up of the Company, whether voluntary or involuntary, or any other
distribution of assets of the Company among its shareholders for the purpose of winding up
its affairs, subject to the prior rights of the holders of any shares ranking senior to
the Class A Shares and Class B Common Shares with respect to priority in the distribution
of assets upon liquidation, dissolution or winding-up, the holders of the Class A Shares
and Class B Common Shares then outstanding shall be entitled to receive the remaining
property and assets of the Company in equal amounts per share and at the same time.

# Voting Rights

The holders of the Class A Shares
shall be entitled to receive notice of and to attend all meetings of the shareholders of
the Company and shall have one vote for each Class A Share held at all meetings of the
shareholders of the Company, except for meetings at which only holders of another
specified class or series of shares of the Company are entitled to vote separately as a
class. The holders of the Class A Shares are entitled, voting separately as a class, to
elect two directors at each annual meeting of the shareholders of the Company.

The holders of the Class B Common
Shares shall be entitled to receive notice of and to attend all meetings of the
shareholders of the Company and shall have five votes for each Class B Common Share held
at all meetings of the shareholders of the Company, except for meetings at which only
holders of another specified class or series of shares of the Company are entitled to vote
separately as a class or series. 13.5% of the aggregate voting rights attached to the
Companys securities are represented by Class A Shares.

Any holders of Preference Shares as a
class shall not be entitled to receive notice of, to attend or to vote at any meeting of
the shareholders of the Company.

# Conversion Rights

The Class B Common Shares may be
converted at any time by the holder or holders into fully-paid Class A Shares of the
Company on the basis of one Class A Share for each Class B Common Share held; provided,
that in the event of liquidation, dissolution or winding-up of the Company, such right of
conversion shall cease and expire on the date of such liquidation, dissolution or
winding-up.

# MARKET FOR SECURITIES

# Trading Price and Volume

The Class A Shares are listed and
posted for trading on the Toronto Stock Exchange under the trading symbol WCS.SV.A and on
the NASDAQ under the trading symbol WCST. The Class

|                        |                         |        
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|wescast industries inc. | Annual Information Form | Page 22

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B Common Shares are not listed on a
stock exchange. The holders of the Class A Shares are entitled to one vote per share. The
holders of the Class B Common Shares are entitled to 5 votes per share.

The following table sets forth the
reported high and low closing prices and trading volumes of the Class A Shares of Wescast
on the TSX for the periods indicated.

|              
|--------------
|              
|              
|Month         
|              
|2004/December 
|              
|2004/November 
|              
|2004/October  
|              
|2004/September
|              
|2004/August   
|              
|2004/July     
|              
|2004/June     
|              
|2004/May      
|              
|2004/April    
|              
|2004/March    
|              
|2004/February 
|              
|2004/January  
|              

# Takeover Bid Protection

The Company and the holders of Class
B Common Shares entered into an agreement on November 1, 1994 (as amended by agreement
dated January 1, 1996, the Coattail Agreement) with a trustee (the
Coattail Trustee) in order to provide the holders of Class A Shares with
specified rights in the event that a takeover bid (as defined under Ontario securities
law) having certain characteristics is made for the Class B Common Shares. A takeover bid
is generally defined under Ontario securities laws as an offer to acquire outstanding
equity or voting shares by an offeror who, after the bid, would own more than 20% of the
shares of the class which is the subject of the bid. Under securities law applicable in
Canada, and apart from the Coattail Agreement, an offer to purchase Class B Common Shares
would not necessarily require that an offer be made to purchase Class A Shares.

# DIRECTORS AND OFFICERS

# Directors

The following table sets out the
directors of Wescast as at January 2, 2005 and for each director his or her province or
state and country of residence, principal occupation during the 5 preceding years and the
period each director has served as a director.

|                        |                         |        
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|wescast industries inc. | Annual Information Form | Page 23

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All directors are elected on an annual basis at the Annual General Meeting.

|Name and Province/State      | Director | Position | Principal Occupation During the
|---------------------------- | -------- | -------- | -------------------------------
|
|
|                            
|Edward G. Frackowiak (2) (4) |          | 1992     |                                
|Ontario, Canada              |          |          |                                
|                             |          |          |                                
|                             |          |          |                                
|                             |          |          |                                
|                             |          |          |                                
|William R. LeVan (2) (3)     |          | 1991     |                                
|Ontario, Canada              |          |          |                                
|                             |          |          |                                
|                             |          |          |                                
|Lawrence G. Tapp(1) (2)      |          | 1997     |                                
|British Columbia, Canada     |          |          |                                
|(Lead Independent Director)  |          |          |                                
|                             |          |          |                                
|                             |          |          |                                
|                             |          |          |                                
|                             |          |          |                                
|J. Dwane Baumgardner (1) (3) |          | 1998     |                                
|Michigan, United States      |          |          |                                
|                             |          |          |                                
|Hugh W. Sloan Jr. (2) (3)    |          | 1998     |                                
|Michigan, United States      |          |          |                                
|                             |          |          |                                
|                             |          |          |                                
|                             |          |          |                                
|J. Emilien Bolduc (1)        |          | 1999     |                                
|Quebec, Canada               |          |          |                                
|Robert A. Canuel (3)         |          | 2003     |                                
|Ontario, Canada              |          |          |                                
|                             |          |          |                                

|                        |                         |        
|----------------------- | ----------------------- | -------
|wescast industries inc. | Annual Information Form | Page 24

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|Name and Province/State     | Director | Position  | Principal Occupation During the
|--------------------------- | -------- | --------- | -------------------------------
|
|
|                           
|Mary Theresa McLeod (1) (2) |          | 2003      |                                
|Ontario, Canada             |          |           |                                
|                            |          |           |                                
|                            |          |           |                                
|                            |          |           |                                
|Daniel Lam(1)               |          | 2004      |                                
|Ontario, Canada             |          |           |                                
|                            |          |           |                                
|                            |          |           |                                
|James R. Barton (3)         |          | Appointed |                                
|Ontario, Canada             |          |           |                                
|                            |          |           |                                
|                            |          |           |                                
|                            |          |           |                                

(1)Member of the Audit Committee.(2)  
          Member of the Nominating and Corporate Governance Committee.(3)  
          Member of the Human Resources Committee.(4)   Ex-officio member of the
          Human Resources Committee. Mr. Frackowiak attends Audit     
Committee meetings at the invitation of the Audit Committee but does not participate in
any decision-making or       voting of the Audit Committee.

|                        |                         |        
|----------------------- | ----------------------- | -------
|wescast industries inc. | Annual Information Form | Page 25

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# Officers

The executive officers of Wescast as
at January 2, 2005, were as follows:

|Name and Province/State | Position | Principal Occupation During the           
|----------------------- | -------- | ------------------------------------------
|and Country             |          | Five Preceding Years                      
|of Residence            |          |                                           
|                       
|Edward G. Frackowiak    |          | Chairman and Chief Executive Officer      
|Ontario, Canada         |          |                                           
|                        |          |                                           
|                        |          |                                           
|                        |          |                                           
|                        |          |                                           
|                        |          |                                           
|Gordon E. Currie        |          | Vice President and Chief Financial Officer
|Ontario, Canada         |          |                                           
|                        |          |                                           
|                        |          |                                           
|                        |          |                                           
|                        |          |                                           
|                        |          |                                           
|Paul A. Lawrence        |          | Vice President, Sales and Marketing       
|Ontario, Canada         |          |                                           
|Larry D. Cerson         |          | Vice President, Manufacturing             
|Ontario, Canada         |          |                                           
|                        |          |                                           
|                        |          |                                           
|                        |          |                                           
|                        |          |                                           
|                        |          |                                           
|Gordon D. Orlikow       |          | Vice President, Human Resources           
|Ontario, Canada         |          | (effective November 2004)                 
|                        |          |                                           
|                        |          |                                           
|                        |          |                                           
|                        |          |                                           
|                        |          |                                           

The number and percentage of
securities of each class of voting securities of the Company beneficially owned, directly
or indirectly, or over which control or direction was exercised, by all directors and
officers of the Company as a group, was approximately 20,047 shares or 0.3% of

|                        |                         |        
|----------------------- | ----------------------- | -------
|wescast industries inc. | Annual Information Form | Page 26

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the Class A
Shares as at March 18, 2005. Pursuant to the terms of the LeVan Family Voting Trust
Agreement dated October 25, 1994, Mr. Edward Frackowiak as trustee exercises the votes
attached to the 7,376,607 Class B Common Shares held pursuant to the Agreement in
accordance with the voting directions given by the holders of a majority of the Class B
Common Shares held pursuant to the Agreement. Mr. Frackowiak does not beneficially own,
control or direct these shares.

# Additional Disclosure
for Directors and Officers

To the knowledge of the Company, no
director or executive officer of the Company is or has been, in the last ten years, a
director or executive officer of an issuer that, while that person was acting in that
capacity, (a) was the subject of a cease trade order or similar order or an order that
denied the issuer access to any exemptions under Canadian securities legislation, for a
period of more than 30 consecutive days, (b) was subject to an event that resulted, after
that person ceased to be a director or executive officer, in the issuer being the subject
of a cease trade or similar order or an order that denied the issuer access to any
exemption under Canadian securities legislation, for a period of more than 30 consecutive
days, or (c) or within a year of that person ceasing to act in that capacity, became
bankrupt, made a proposal under any legislation relating to bankruptcy or insolvency or
was subject to or instituted any proceedings, arrangement or compromise with creditors or
had a receiver, receiver manager or trustee appointed to hold its assets.

# TRANSFER AGENT AND
REGISTRAR

The registrar and transfer agent for
the Companys Class A shareholders is Computershare Investor Services Inc. The
register of the Class A Shares is maintained at Computershares office in Toronto
(100 University Avenue, 9thFloor, Toronto, Ontario, M5J 2Y1).

# INTERESTS OF EXPERTS

The Companys auditors are
Deloitte & Touche LLP, 4210 King Street East, Kitchener, Ontario, N2P 2G5. The
Companys consolidated financial statements as at January 2, 2005 have been filed
under National Instrument 51-102 in reliance on the report of Deloitte & Touche LLP,
independent chartered accountants, given on their authority as experts in auditing and
accounting.

# CODE OF ETHICS

The Company has established a Code of
Business Conduct applicable to all employees, officers and directors. The Code of Business
Conduct is available without charge by contacting the Corporate Secretary at 150 Savannah
Oaks Drive, Brantford, Ontario, N3T 5L8, or by email to corp.secretary@wescast.com.

|                        |                         |        
|----------------------- | ----------------------- | -------
|wescast industries inc. | Annual Information Form | Page 27

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# AUDIT COMMITTEE
INFORMATION

# Composition of the Audit
Committee

In 2004, the Audit Committee of the
Company was composed of the following five members: J. Emilien Bolduc (Chair), J. Dwane
Baumgardner, L.G. Tapp, M.T. McLeod and D. Lam. The responsibilities and duties of the
Committee are set out in the Committees charter, the text of which is set forth in
Appendix I to this Annual Information Form.

# Financial Literacy

The Board of Directors believes that
the composition of the Audit Committee reflects an appropriate level of financial literacy
and expertise. Each member of the Audit Committee has been determined by the Board to be
independent and financially literate as such terms are defined
under Canadian and United States securities laws and Nasdaq rules.

# Audit Committee
Financial Expert

Wescasts board of directors has
determined that it has an audit committee financial expert (as such term is defined in the
rules and regulations of the Securities and Exchange Commission SEC) serving
on its audit committee. Mr. J. Emilien Bolduc has been determined to be an audit
committee financial expert and is independent (as that term is defined by The NASDAQ
Stock Market, Inc.s listing standards applicable to Wescast). The Board has made
this determination based on the education and breadth and depth of experience of this
member of the Committee. The SEC has indicated that the designation of Mr. Bolduc as an
audit committee financial expert does not make him an expert for any purpose,
impose on him any duties, obligations or liability that are greater than the duties,
obligations or liability imposed on him as a member of the audit committee and board of
directors in absence of such designation, or affect the duties, obligations or liabilities
of any other member of the audit committee or board of directors. The following is a
description of the education and experience of each member of the Committee that is
relevant to the performance of his or her responsibilities as a member of the Audit
Committee.

Mr. Bolduc obtained a Bachelors and Masters Degree in Commercial Science from
          Laval University. He is a retired Vice Chairman of the Royal Bank and has held
          various international positions with the Bank throughout his career including
          Chief Internal Auditor and chief Financial Officer. He was also a director of
          several Royal Bank subsidiaries.

Mr. Baumgardner retired as Vice Chairman and President, Magna Donnelly Corporation
          in 2003. For over 20 years, he supervised the CFO at Donnelly Corporation. He is
          also a director and member of the Audit Committee of SL Industries, Inc.

|                        |                         |        
|----------------------- | ----------------------- | -------
|wescast industries inc. | Annual Information Form | Page 28

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Mr. Tapp has an EMBA from the University of Kansas and was the Dean of the Richard
          Ivey School of Business at The University of Western Ontario. He continues as a
          professor at that school regarding corporate governance and business strategy.
          He is also Chairman of Tapp Technologies Inc. and is chairman and a member of
          several audit committees of public companies.

Mrs. McLeod obtained a B.A. from the University of Ottawa and an MBA  Finance
          Concentration from The University of Western Ontario. She has 20 years
          experience as an investment banker with three major Canadian investment dealers
          and was a Managing Director or equivalent for 15 of those years. She is also a
          member of the Institute of Chartered Financial Analysts and has spent several
          years as a corporate director, primarily since 1997 as a member of audit
          committees.

Mr. Lam holds a B.A. in Mathematics, Business Studies and Motion Picture Studies
          from York University as well as an EMBA from The University of Western Ontario.
          He is currently Senior Vice President and a Director at Hampton Securities Inc.
          and Hampton Securities (Asia) Limited. He was also a Vice President and a
          Director of HSBC Securities Canada Inc. He has taught both Accounting and
          Financial Accounting and Financial Analysis at York University. Daniel Lam is
          not standing for re-election at the Annual Shareholders Meeting on May 9,
          2005.

# Auditors Service
Fees

Deloitte & Touche LLP has been
the companys auditor since February 26, 2003. The approximate fees billed for
professional services rendered by Deloitte & Touche LLP, Wescasts principal
auditor for the year ended January 2, 2005, and December 28, 2003 are set out below:

|                      
|----------------------
|                      
|                      
|                      
|                      
|Audit Fees (1)        
|                      
|Audit Related Fees (2)
|                      
|Tax Fees (3)          
|                      
|All Other Fees        
|                      
|Total                 
|                      

|(1) |  | For the audit of Wescasts annual financial statements and services
          normally provided by the principal auditor in connection with Wescasts
          statutory and regulatory filings.
|--- |  | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(2) |  | For assurance and related services that are reasonably related to the
          performance of the audit and are not reported in (1), including accounting
          consultations and various agreed upon procedures.
|--- |  | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(3) |  | For tax compliance, advice, planning and return preparation and for services
          related to the submission and receipt of investment tax credits earned from
          Scientific Research and Experimental Development (SR&ED) qualified
          expenditures. These fees include administration charges and out-of-pocket costs.
|--- |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|                        |                         |        
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|wescast industries inc. | Annual Information Form | Page 29

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# Audit Committee 
Pre-Approval Policies and Procedures

The Companys Audit Committee is
responsible for overseeing the work of the independent auditors and considering whether
the provision of services, other than audit services, is compatible with maintaining the
auditors independence. The Company has adopted a policy regarding the Audit
Committees pre-approval of all audit and permissible non-audit services provided by
the independent auditors. The Committee determines, at least once a year, which audit
services, audit-related services, tax services and other permissible non-audit services to
pre-approve and creates a list of such pre-approved services, some with pre-approved fee
thresholds.

At each regularly scheduled Audit
Committee meeting, senior management provides the Audit Committee with the following:

| |  |  | A report summarizing the services, or grouping of related services, including fees,
provided by the independent auditor; and
| | - |  | ----------------------------------------------------------------------------------------------------------------------------

| |  |  | An updated projection for the current fiscal year, presented in a manner consistent with
the proxy disclosure requirements, of the estimated annual fees to be paid to the
independent auditor.
| | - |  | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

All fees paid to Wescasts
external auditors in 2004 were approved by Wescasts Audit Committee.

# MATERAL CONTRACTS

There are no material contracts entered
into by the Corporation on or after January 1, 2002, other than contracts entered into in
the ordinary course of business.

# ADDITIONAL INFORMATION

Additional information about Wescast
is available on the Companys web site at www.wescast.com, on SEDAR (System
for Electronic Document Analysis and Retrieval) at www.sedar.com and on the U.S.
Securities and Exchange web site at www.sec.gov/edgar.

Additional information, including
information concerning directors and executive officers remuneration and
indebtedness, principal holders of the Companys securities and securities authorized
for issuance under equity compensation plans where applicable, is contained in the
Companys Management Proxy Circular dated March 18, 2005, for the Annual Meeting of
Shareholders for the year ended January 2, 2005.

|                        |                         |        
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|wescast industries inc. | Annual Information Form | Page 30

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Additional financial information is
provided in the Companys comparative audited consolidated financial statements and
Managements Discussion and Analysis in the 2004 Annual Report of Wescast for its
fiscal year ended January 2, 2005.

Copies of the Annual Information
Form, as well as copies of the 2004 Annual Report of Wescast for the year ended January 2,
2005 and Proxy Circular dated March 18, 2005 may be obtained from:

Wescast
Industries Inc.Corporate Secretary150 Savannah Oaks DriveBrantford
 OntarioCanada N3T 5L8

|           |                           
|---------- | --------------------------
|Telephone: | 519-750-0000              
|Fax:       | 519-720-1629              
|Email:     | corp.secretary@wescast.com

|                        |                         |        
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|wescast industries inc. | Annual Information Form | Page 31

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# Appendix I

# WESCAST INDUSTRIES INC.

# AUDIT COMMITTEE CHARTER

By appropriate resolution of the
Board of Directors of Wescast Industries Inc. (the Board), the Audit Committee
(the Committee) has been established as a standing committee of the Board with
the terms of reference set forth below. Unless the context requires otherwise, the term
Company refers to Wescast Industries Inc. and its subsidiaries and the term
internal auditor refers to the Director of Audit Services of the Company.

# 1.     PURPOSE

1.1 The Committees
purpose is to:

|(a) |  | assist Board oversight of:
|--- |  | --------------------------

|(i) |  | the integrity of the Companys financial statements, Managements
               Discussion and Analysis of Operating Performance (MD&A) and
               other financial reporting;
|--- |  | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(ii) |  | the Companys compliance with legal and regulatory requirements;
|---- |  | ----------------------------------------------------------------

|(iii) |  | the external auditors qualifications, independence and performance;
|----- |  | --------------------------------------------------------------------

|(iv) |  | the performance of the Companys internal audit function and internal
               auditor;
|---- |  | ---------------------------------------------------------------------------------------------

|(v) |  | the communication among the external auditor, the internal auditor, management
               and the Board;
|--- |  | ------------------------------------------------------------------------------------------------------------

|(vi) |  | the review and approval of any related party transactions; and
|---- |  | --------------------------------------------------------------

|(vii) |  | any other matters as defined by the Board; and
|----- |  | ----------------------------------------------

|(b) |  | prepare and/or approve any report that is required by law or regulation to be
               included in any of the Companys public disclosure documents relating to
               the Committee.
|--- |  | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

# 2.     COMMITTEE MEMBERSHIP

2.1 Number of Members- The Committee shall consist of not fewer than three members.

2.2 Independence of Members- Each member of the Committee shall:

|                        |                         |        
|----------------------- | ----------------------- | -------
|wescast industries inc. | Annual Information Form | Page 32

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|(a) |  | be a member of the Board;
|--- |  | -------------------------

|(b) |  | not be an officer or employee of the Company or any of its affiliates;
|--- |  | ----------------------------------------------------------------------

|(c) |  | be an unrelated director for the purposes of the Toronto Stock Exchange (the
               TSX) Corporate Governance Policy;
|--- |  | -------------------------------------------------------------------------------------------------------------------------------

|(d) |  | satisfy the independence requirements applicable to members of audit committees
               under each of the rules of Nasdaq, Multilateral Instrument 52-110 
               Audit Committees of the Canadian Securities Administrators (MI
               52-110), the rules of the U.S. Securities and Exchange Commission (the
               SEC) and other applicable laws and regulations;and
|--- |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(e) |  | not have participated in the preparation of the financial statements of the
               Company or any current subsidiary at any time during the past three years.
|--- |  | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------

2.3   Financial Literacy 
Each member of the Committee shall satisfy the financial literacy requirements or
definitions applicable to members of audit committees under the TSX Corporate Governance
Policy, the rules of Nasdaq, MI 52-110 and other applicable laws and regulations.

2.4   Accounting or Related
Financial Experience  At least one member of the Committee shall satisfy the
financial expertise and experience requirements under the TSX Corporate Governance Policy
and the rules of Nasdaq.

2.5   Annual Appointment of
Members  The Committee and its Chair shall be appointed annually by the Board
and each member of the Committee shall serve at the pleasure of the Board until he or she
resigns, is removed or ceases to be a Director of the Company.

# 3.     COMMITTEE MEETINGS

3.1   Time and Place of Meetings
 The time and place of the meetings of the Committee and the calling of meetings and
the procedure in all things at such meetings shall be determined by the Committee;
provided, however, that the Committee shall meet at least quarterly, a majority of the
members of the Committee shall constitute a quorum, and the Committee shall maintain
minutes or other records of its meetings and activities.

3.2   In Camera Meetings 
As part of each meeting of the Committee at which it recommends that the Board approve the
annual audited financial statements of the Company, and at such other times as the
Committee deems appropriate, the Committee shall meet separately with each of the persons
set forth below to discuss and review specific issues as appropriate:

|(a) |  | management;
|--- |  | -----------

|(b) |  | the external auditor; and
|--- |  | -------------------------

|                        |                         |        
|----------------------- | ----------------------- | -------
|wescast industries inc. | Annual Information Form | Page 33

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|(c) |  | the internal auditor.
|--- |  | ---------------------

4.    
COMMITTEE AUTHORITY AND RESOURCES

4.1   Direct Channels of
Communication  The Committee shall have direct channels of communication with
the Companys internal and external auditors to discuss and review specific issues as
appropriate.

4.2   Retaining and Compensating
Advisors  The Committee, or any member of the Committee with the approval of the
Committee, may retain at the expense of the Company such independent legal, accounting
(other than the external auditor) or other advisors on such terms as the Committee may
consider appropriate and shall not be required to obtain the approval of the Board in
order to retain or compensate any such advisors.

4.3   Funding  The Company
shall provide for appropriate funding, as determined by the Committee, for payment of
compensation of the external auditor and any advisor retained by the Committee under
Section 4.2 of this Charter and for ordinary administrative expenses of the Committee that
are necessary or appropriate in carrying out its duties.

4.4   Investigations  The
Committee shall have unrestricted access to Company personnel and documents and shall be
provided with the resources necessary to carry out its responsibilities.

# 5.     REMUNERATION OF
COMMITTEE MEMBERS

5.1   Director Fees Only 
No member of the Committee may accept, directly or indirectly, fees from the Company or
any of its subsidiaries other than remuneration for acting as a member of the Committee,
the Board or any other committee of the Board.

5.2   Other Payments  For
greater certainty, no member of the Committee shall accept any consulting, advisory or
other compensatory fee from the Company. For purposes of Section 5.1, the indirect
acceptance by a member of the Committee of any fee includes acceptance of a fee by an
immediate family member or a partner, member or executive officer of, or a person who
occupies a similar position with, an entity that provides accounting, consulting, legal,
investment banking or financial advisory services to the Company or any of its
subsidiaries, other than limited partners, non-managing members and those occupying
similar positions who, in each case, have no active role in providing services to the
entity.

# 6.     DUTIES AND
RESPONSIBILITIES OF THE COMMITTEE

6.1   Overview  The
Committees principal responsibility is one of oversight. The Companys
management is responsible for preparing the Companys financial statements and the
external auditor is responsible for auditing those financial statements.

The Committees specific duties
and responsibilities are as follows:

|                        |                         |        
|----------------------- | ----------------------- | -------
|wescast industries inc. | Annual Information Form | Page 34

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|(a) |  | Financial and Related Information 
|--- |  | -----------------------------------

|(i) |  | Annual Financial Statements  The Committee shall review and discuss
               with management and the external auditor the Companys annual financial
               statements and related MD&A and report thereon to the Board before the Board
               approves such statements and MD&A;
|--- |  | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(ii) |  | Interim Financial Statements  The Committee shall review and
               discuss with management and the external auditor the Companys interim
               financial statements and related MD&A and report thereon to the Board before
               the Board approves such statements and MD&A;
|---- |  | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(iii) |  | Prospectuses and Other Documents  The Committee shall review and
               discuss with management and the external auditor the financial information,
               financial statements and related MD&A appearing in any prospectus, annual
               report, annual information form, management information circular or any other
               public disclosure document prior to its public release or filing and, if
               requested by the Board, report thereon to the Board;
|----- |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(iv) |  | Accounting Treatment  Prior to the completion of the annual
               external audit, and at any other time deemed advisable by the Committee, the
               Committee shall review and discuss with management and the external auditor (and
               shall arrange for the documentation of such discussions in a manner it deems
               appropriate) the quality and not just the acceptability of the Companys
               accounting principles and financial statement presentation, including, without
               limitation, the following:
|---- |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(A) |  | all critical accounting policies and practices to be used, including, without
               limitation, the reasons why certain estimates or policies are or are not
               considered critical and how current and anticipated future events impact those
               determinations and an assessment of managements disclosures along with any
               significant proposed modifications by the auditors that were not included;
|--- |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(B) |  | all alternative treatments within generally accepted accounting principles for
               policies and practices related to material items that have been discussed with
               management, including, without limitation, ramification of the use of such
               alternative disclosure and treatments, and the treatment preferred by the
               external auditor, which discussion should address recognition, measurement and
               disclosure consideration related to the accounting for specific transactions as
               well as general accounting policies. Communications regarding specific
               transactions should
|--- |  | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|                        |                         |        
|----------------------- | ----------------------- | -------
|wescast industries inc. | Annual Information Form | Page 35

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| |  | identify the underlying facts, financial statement accounts
               impacted and applicability of existing corporate accounting policies to the
               transaction. Communications regarding general accounting policies should focus
               on the initial selection of, and changes in, significant accounting policies,
               the impact of managements judgments and accounting estimates and the
               external auditors judgments about the quality of the Companys
               accounting principles. Communications regarding specific transactions and
               general accounting policies should include the range of alternatives available
               under generally accepted accounting principles discussed by management and the
               auditors and the reasons for selecting the chosen treatment or policy. If the
               external auditors preferred accounting treatment or accounting policy is
               not selected, the reasons therefore should also be reported to the Committee;
| |  | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(C) |  | other material written communications between the external auditor and
               management, such as any management letter, schedule of unadjusted differences,
               listing of adjustments and reclassifications not recorded, management
               representation letter, report on observations and recommendations on internal
               controls, engagement letter and independence letter;and
|--- |  | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(D) |  | the adequacy of the Companys internal controls and any special audit steps
               adopted in light of control deficiencies.
|--- |  | ------------------------------------------------------------------------------------------------------------------------------------

|(v) |  | Disclosure of Other Financial Information  The Committee shall:
|--- |  | ----------------------------------------------------------------

|(A) |  | review, and discuss generally with management the type and presentation of
               information to be included in, all public disclosure by the Company containing
               audited, unaudited or forward-looking financial information in advance of its
               public release by the Company, including, without limitation, earnings guidance
               and financial information based on unreleased financial statements; and
|--- |  | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(B) |  | satisfy itself that adequate procedures are in place for the review of the
               Companys disclosure of financial information extracted or derived from the
               Companys financial statements, other than the Companys financial
               statements, MD&A and earnings press releases, and shall periodically assess
               the adequacy of those procedures.
|--- |  | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(b) |  | External Auditor 
|--- |  | ------------------

|                        |                         |        
|----------------------- | ----------------------- | -------
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|(i) |  | Authority with Respect to External Auditor  As representative of
               the Companys shareholders and as a committee of the Board, the Committee
               shall be directly responsible for the appointment, compensation, retention,
               termination and oversight of the work of the external auditor (including,
               without limitation, resolution of disagreements between management and the
               auditor regarding financial reporting) for the purpose of preparing or issuing
               an audit report or performing other audit, review or attest services for the
               Company. In this capacity, the Committee shall have sole authority for
               recommending to the Board the person to be proposed to the Companys
               shareholders for appointment as external auditor, whether at any time the
               incumbent external auditor should be removed from office,and the
               compensation of the external auditor. The Committee shall require the external
               auditor to confirm in an engagement letter to the Committee each year that the
               external auditor is accountable to the Board and the Committee as
               representatives of shareholders and that it will report directly to the
               Committee.
|--- |  | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(ii) |  | Approval of Audit Plan  The Committee shall approve, prior to the
               external auditors audit, the external auditors audit plan
               (including, without limitation, staffing), the scope of the external
               auditors review and all related fees.
|---- |  | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(iii) |  | Independence  The Committee shall satisfy itself as to the
               independence of the external auditor. As part of this process:
|----- |  | -----------------------------------------------------------------------------------------------------------------------------------------

|(A) |  | The Committee shall require the external auditor to submit on a periodic basis
               to the Committee a formal written statement confirming its independence under
               applicable laws and regulations and delineating all relationships between the
               auditor and the Company and the Committee shall actively engage in a dialogue
               with the external auditor with respect to any disclosed relationships or
               services that may impact the objectivity and independence of the external
               auditor and take, or recommend that the Board take any action the Committee
               considers appropriate in response to such report to satisfy itself of the
               external auditors independence.
|--- |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(B) |  | In accordance with applicable laws and regulations, the Committee shall
               pre-approve any non-audit services (including, without limitation, fees
               therefore) provided to the Company or its subsidiaries by the external auditor
               or any auditor of any such subsidiary and shall consider whether these services
               are compatible with the external auditors independence, including,
|--- |  | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|                        |                         |        
|----------------------- | ----------------------- | -------
|wescast industries inc. | Annual Information Form | Page 37

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| |  | without
               limitation, the nature and scope of the specific non-audit services to be
               performed and whether the audit process would require the external auditor to
               review any advice rendered by the external auditor in connection with the
               provision of non-audit services. The Chair may approve additional non-audit
               services that arise between Committee meetings, provided that the Chair reports
               any such approvals to the Committee at the next scheduled meeting.
| |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(C) |  | The Committee shall establish a policy setting out the restrictions on the
               Company hiring employees and former employees of the Companys external
               auditor or former external auditor.
|--- |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(iv) |  | Rotating of Auditor Partner  The Committee shall evaluate the
               performance of the external auditor and whether it is appropriate to adopt a
               policy of rotating lead or responsible partners of the external auditors.
|---- |  | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(v) |  | Regulatory Matters  The Committee shall obtain from the external
               auditor assurance of compliance with Section 10A of the Securities Exchange Act
               of 1934. The Committee shall discuss with the external auditor the matters
               required to be discussed byStatement on Auditing Standards No. 61 andSection 5741 of the CICA Handbook  Assurance relating to the conduct
               of the audit.
|--- |  | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(c) |  | Internal Audit Function  Controls 
|--- |  | ------------------------------------

|(i) |  | Regular Reporting  The internal auditor shall report regularly to
               the Committee.
|--- |  | ------------------------------------------------------------------------------------------------

|(ii) |  | Oversight of Internal Controls  The Committee shall oversee
               managements design and implementation of and reporting on the
               Companys internal controls and review the adequacy and effectiveness of
               managements financial information systems and internal controls. The
               Committee shall periodically review and approve the mandate, plan, budget and
               staffing of the internal audit department. The Committee shall direct management
               to make any changes it deems devisable in respect of the internal audit
               function.
|---- |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(iii) |  | Review of Audit Problems  The Committee shall review with the
               internal auditor: any problem or difficulties the internal auditor may have
               encountered, including, without limitation, any restrictions on the scope of
               activities or access to required information, and any significant reports to
               management prepared by the internal auditing department and managements
               responses thereto.
|----- |  | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|                        |                         |        
|----------------------- | ----------------------- | -------
|wescast industries inc. | Annual Information Form | Page 38

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|(iv) |  | Review of Internal Auditor  The Committee shall review the
               appointment, performance and replacement of the senior internal auditing
               executives and the activities, organization structure and qualifications of the
               persons responsible for the internal audit function.
|---- |  | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(d) |  | Whistle Blowing  The Committee shall establish procedures for:
|--- |  | ---------------------------------------------------------------

|(i) |  | the receipt, retention and treatment of complaints received by the Company
               regarding accounting, internal accounting controls or auditing matters; and
|--- |  | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(ii) |  | the confidential, anonymous submission by employees of the Company of concerns
               regarding questionable accounting or auditing matters.
|---- |  | ----------------------------------------------------------------------------------------------------------------------------------------------------

|(e) |  | Related Party Transactions  The Committee shall review and approve
               any transaction between the Company and a related party and any transaction
               involving the Company and another party in which the parties relationship
               could enable the negotiation of terms on other than an independent, arms
               length basis.
|--- |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(f) |  | Liaison  The Committee shall review and ensure that appropriate
               liaison and co-operation exist between the external auditor and the internal
               auditor and provide a direct channel of communication between the external and
               internal auditors and the Committee.
|--- |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(g) |  | Public Reports  The Committee shall prepare and/or approve any
               report that is required by law or regulation to be included in any of the
               Companys public disclosure documents relating to the Committee.
|--- |  | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(h) |  | Other Matters  The Committee may, in addition to the foregoing,
               perform such other functions as may be necessary or appropriate for the
               performance of its oversight function.
|--- |  | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

# 7.     EVALUATION OF CHARTER

7.1  Amendments to Charter 

|(a) |  | Review by Audit Committee  On at least an annual basis, the
               Committee shall review and discuss the adequacy of this Charter and recommend
               any proposed changes to the Board of Directors.
|--- |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(b) |  | Review by Board  The Board will review and reassess the adequacy of
               the Charter on an annual basis and at such other times as it considers
               appropriate.
|--- |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

# 8.     LEGISLATIVE AND REGULATORY REQUIREMENTS

|                        |                         |        
|----------------------- | ----------------------- | -------
|wescast industries inc. | Annual Information Form | Page 39

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8.1  Compliance  It is
the Boards intention that this mandate shall reflect all legislative and regulatory
requirements applicable to the Committee.

# 9. CURRENCY OF CHARTER

9.1  Currency of Charter
- This Charter was last revised on March 30, 2004.

---

This Charter was reviewed by Canadian
and US Securities counsel in January 2005. The Audit Committee reviewed it on February 21,
2005. No revisions were required.

|                        |                         |        
|----------------------- | ----------------------- | -------
|wescast industries inc. | Annual Information Form | Page 40