# EDGAR Filing Document

**Accession Number:** 0000749098
**File Stem:** 0001171843-23-000895
**Filing Date:** 2023-2
**Character Count:** 350220
**Document Hash:** 79b383dc09058e9c88ac1559ad6257b8
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001171843-23-000895.hdr.sgml**: 20230210

**ACCESSION NUMBER**: 0001171843-23-000895

**CONFORMED SUBMISSION TYPE**: 6-K

**PUBLIC DOCUMENT COUNT**: 73

**CONFORMED PERIOD OF REPORT**: 20230210

**FILED AS OF DATE**: 20230210

**DATE AS OF CHANGE**: 20230210

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MAGNA INTERNATIONAL INC
- **CENTRAL INDEX KEY:** 0000749098
- **STANDARD INDUSTRIAL CLASSIFICATION:** MOTOR VEHICLE PARTS & ACCESSORIES [3714]
- **IRS NUMBER:** 000000000
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 6-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-11444
- **FILM NUMBER:** 23610293

**BUSINESS ADDRESS:**
- **STREET 1:** 337 MAGNA DRIVE
- **STREET 2:** N/A
- **CITY:** AURORA, ONTARIO, CAN
- **STATE:** A6
- **ZIP:** L4G 7K1
- **BUSINESS PHONE:** 9057262462

**MAIL ADDRESS:**
- **STREET 1:** 337 MAGNA DRIVE
- **STREET 2:** N/A
- **CITY:** AURORA, ONTARIO, CAN
- **STATE:** A6
- **ZIP:** L4G 7K1

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**Form 6-K**

**Report of Foreign Private Issuer Pursuant to Rule 13a-16 or 15d-16 under the Securities Exchange Act of 1934** 

**For the month of February 2023**

**Commission File Number: 001-11444**

**MAGNA INTERNATIONAL INC.**

(Exact Name of Registrant as specified in its Charter)

**337 Magna Drive, Aurora, Ontario, CANADA L4G 7K1** 

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F [ ] &nbsp;&nbsp;&nbsp;&nbsp; Form 40-F [ X ]

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):

**Note:** Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):

**Note:** Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant's "home country"), or under the rules of the home country exchange on which the registrant's securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant's security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.

------

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

---

| | |
|:---|:---|
|  | **MAGNA INTERNATIONAL INC.** |
|  | (Registrant) |
| Date: February 10, 2023 | By: <u>*/s/ "Bassem Shakeel"*</u> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bassem A. Shakeel, |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vice-President and Corporate Secretary |

---

------

**EXHIBITS**

---

| | |
|:---|:---|
| **[Exhibit 99.1](exh_991.htm)** | [Press release issued February 10, 2023, in which the Registrant announced its unaudited consolidated financial results for the three months and year ended December 31, 2022, declared an increased fourth quarter dividend, and also announced its 2023 Outlook.](exh_991.htm) |
| **[Exhibit 99.2](exh_992.htm)** | [Q4 2022 Financial Review](exh_992.htm) |
| **[Exhibit 99.3](exh_993.htm)** | [Q4 & Full Year 2022 Results and 2023 Outlook Conference Call Presentation slides (February 10, 2023)](exh_993.htm) |
| [**Exhibit 99.4**](exh_994.htm) | [Q4 & Full Year 2022 Results and 2023 Outlook Conference Call Transcript (February 10, 2023)](exh_994.htm) |

---

**Exhibi**

## Exhibit 99.1

**EXHIBIT 99.1**

---

| | |
|:---|:---|
| ![logo](exh991small_1.jpg) | PRESS RELEASE |

---

**Magna Announces Fourth Quarter 2022 Results and 2023 Outlook**

Fourth Quarter 2022 Highlights

* Sales increased 5% to $9.6 billion

* Excluding foreign currency translation sales increased 13%, compared to a global light vehicle production
increase of 5%

* Diluted earnings per share and Adjusted diluted earnings per share decreased to $0.33 and $0.91, respectively,
compared to $1.54 and $1.30 last year

* Returned $131 million to shareholders through dividends and share repurchases

* Raised quarterly cash dividend to $0.46 per share

2023 Outlook Highlights

* Sales expected to continue to outgrow global light vehicle production through outlook period

* Expect Adjusted EBIT Margin to expand by 230 basis points or more by 2025

AURORA, Ontario, Feb. 10, 2023 (GLOBE NEWSWIRE) -- Magna International Inc. (TSX: MG; NYSE: MGA) today reported financial results for the fourth quarter and year ended December 31, 2022.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **THREE MONTHS ENDED<br>DECEMBER 31,** | **THREE MONTHS ENDED<br>DECEMBER 31,** | **YEAR ENDED<br>DECEMBER 31,** | **YEAR ENDED<br>DECEMBER 31,** |
|  | **2022** | **2021** | **2022** | **2021** |
| **<u>Reported</u>** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sales | $**9568** | $9110 | $**37840** | $36242 |
| &nbsp;&nbsp;&nbsp;&nbsp;Income from operations before income taxes | $**146** | $576 | $**878** | $1948 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net income attributable to Magna International Inc. | $**95** | $464 | $**592** | $1514 |
| &nbsp;&nbsp;&nbsp;&nbsp;Diluted earnings per share | $**0.33** | $1.54 | $**2.03** | $5.00 |
| **<u>Non-GAAP Financial Measures</u>**<sup>(</sup><sup>1)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Adjusted EBIT | $**356** | $508 | $**1662** | $2064 |
| &nbsp;&nbsp;&nbsp;&nbsp;Adjusted diluted earnings per share | $**0.91** | $1.30 | $**4.10** | $5.13 |

---

**All results are reported in millions of U.S. dollars, except per share figures, which are in U.S. dollars.**

<sup>(1)</sup> <sub>Adjusted EBIT and Adjusted diluted earnings per share are Non-GAAP financial measures that have no standardized meaning under U.S. GAAP, and as a result may not be comparable to the calculation of similar measures by other companies. A reconciliation of these Non-GAAP financial measures is included in the back of this press release.</sub>

---

| | | |
|:---|:---|:---|
| ![](kotagiri.jpg) | | *"2022 was another difficult year for the auto industry as inflation climbed to levels not experienced for decades, geopolitical issues contributed to unprecedented European energy prices and OEM production schedules remained volatile. Nevertheless, we once again generated above-market sales growth, and booked a record amount of business.*<br> *In 2023, we are highly focused on improving underperforming operations, limiting discretionary costs and securing further inflation recoveries from our customers. At the same time, we continue to invest to support the significant amount of business growth in front of us."*<br> *- Swamy Kotagiri, Magna's Chief Executive Officer*<br>|

---

**<u>THREE MONTHS ENDED DECEMBER 31, 2022</u>**

We recorded consolidated sales of $9.6 billion in the fourth quarter of 2022, an increase of 5% over the fourth quarter of 2021. Excluding the impact of foreign currency translation, sales increased 13% compared to global light vehicle production that increased 5%.

Adjusted EBIT decreased to $356 million in the fourth quarter of 2022 compared to $508 million in the fourth quarter of 2021. This decrease mainly reflects higher net engineering costs related to our electrification and ADAS businesses, including at certain equity-accounted entities, higher net warranty costs, higher launch costs, operating inefficiencies at a facility in Europe, and provisions against certain accounts receivable and other balances. These factors were partially offset by earnings on higher sales and higher net favourable commercial resolutions.

Income from operations before income taxes was $146 million in the fourth quarter of 2022 compared to $576 million in the fourth quarter of 2021. Included in income from operations before income taxes in the fourth quarter of 2022 was Other expense, net of $193 million, comprised of net losses on the revaluation of certain public and private company warrants and equity investments, a loss on the sale of a business operation, and restructuring and impairment costs (see "Non-GAAP Financial Measures" section included in this Press Release). In comparison, in the fourth quarter of 2021 we recorded, Other income, net of $90 million, comprised of merger agreement termination fee income and net gains on the revaluation of certain public and private company warrants and equity investments, partially offset by restructuring and impairment costs. Excluding Other expense (income), net from both periods, income from operations before income taxes decreased $147 million in the fourth quarter of 2022 compared to the fourth quarter of 2021.

Net income attributable to Magna International Inc. was $95 million in the fourth quarter of 2022 compared to $464 million in the fourth quarter of 2021. Included in net income attributable to Magna International Inc. in the fourth quarter of 2022 was Other expense, net of $166 million after tax, compared to Other income, net of $60 million and Adjustments to Deferred Tax Valuation Allowances of $13 million in the fourth quarter of 2021. Excluding Other expense (income), net and Adjustments to Deferred Tax Valuation Allowances from both periods, net income attributable to Magna International Inc. decreased $130 million in the fourth quarter of 2022 compared to the fourth quarter of 2021.

Diluted earnings per share decreased to $0.33 in the fourth quarter of 2022 compared to $1.54 in the comparable period and Adjusted diluted earnings per share decreased to $0.91 compared to $1.30.

In the fourth quarter of 2022, we generated $1.3 billion in cash from operating activities after changes in operating assets and liabilities. Investment activities in the fourth quarter of 2022 included $750 million in fixed asset additions, and $186 million for investments, other assets and intangible assets.

**<u>YEAR ENDED DECEMBER 31, 2022</u>**

We recorded consolidated sales of $37.8 billion for the year ended December 31, 2022, an increase of 4% from the year ended December 31, 2021. Excluding the impact of foreign currency translation, sales increased 11% compared to global light vehicle production that increased 6%.

Adjusted EBIT decreased to $1.66 billion in 2022 compared to $2.06 billion in 2021. This decrease mainly reflects higher net production input costs, including energy, commodity, labour and freight costs, inefficiencies and other costs at certain underperforming facilities, higher net engineering costs related to our electrification and ADAS businesses, including at certain equity-accounted entities, the net weakening of foreign currencies against the U.S. dollar, reduced earnings as a result of the substantial idling of our Russian operations, and lower equity income. These factors were partially offset by earnings on higher sales, higher net favourable commercial resolutions and a $45 million provision on engineering service contracts with the automotive unit of Evergrande in 2021.

During 2022, income from operations before income taxes was $878 million and net income attributable to Magna International Inc. was $592 million, down $1.07 billion and $922 million compared to 2021, respectively.

Diluted earnings per share decreased to $2.03 in 2022 compared to $5.00 in 2021 and adjusted diluted earnings per share decreased to $4.10 compared to $5.13.

During 2022, we generated cash from operations of $2.1 billion including changes in operating assets and liabilities. Investment activities in 2022 included $1.7 billion in fixed asset additions, $455 million in investments, other assets and intangible assets, and $29 million in public and private equity investments.

**<u>RETURN OF CAPITAL TO SHAREHOLDERS</u>**

During the year ended December 31, 2022, we repurchased 12.6 million shares for $780 million. In addition, we paid dividends of $126 million and $514 million for the three months and year ended December 31, 2022, respectively.

Our Board of Directors declared a fourth quarter dividend of $0.46 per Common Share. The dividend is payable on March 10, 2023 to shareholders of record as of the close of business on February 24, 2023.

**<u>2023 AND 2025 OUTLOOK</u>**

Our current year Outlook is provided annually and updated quarterly; our 2025 Outlook is provided below, but not updated quarterly. Our outlook does not incorporate material unannounced acquisitions or divestitures. It also excludes the pending acquisition of Veoneer Active Safety announced on December 20, 2022.

**2023 and 2025 Outlook Assumptions**

---

| | | |
|:---|:---|:---|
|  | **<u>2023</u>** | **<u>2025</u>** |
| Light Vehicle Production (millions of units)<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;North America<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Europe<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;China | 14.9<br>16.2<br>26.2 | 16.5<br>17.5<br>29.0 |
| Average Foreign exchange rates:<br>1 Canadian dollar equals<br>1 euro equals | US$0.750<br>US$1.070 | US$0.750<br>US$1.070 |

---

**2023 and 2025 Outlook**

---

| | | |
|:---|:---|:---|
|  | **<u>2023</u>** | **<u>2025</u>** |
| Segment Sales<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Body Exteriors & Structures <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Power & Vision<br> Seating Systems <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Complete Vehicles | $16.7 - $17.3 billion<br>$13.0 - $13.4 billion<br>$5.5 - $5.8 billion<br>$4.9 - $5.2 billion | $20.0 - $21.0 billion<br>$14.8 - $15.4 billion<br>$6.2 - $6.6 billion<br>$4.0 - $4.5 billion |
| Total Sales | $39.6 - $41.2 billion | $44.7 - $47.2 billion |
| Adjusted EBIT Margin<sup>(</sup><sup>2</sup><sup>)</sup> | 4.1% - 5.1% | 6.7% - 7.8% |
| Equity Income (included in EBIT) | $95 - $125 million | $180 - $225 million |
| Interest Expense, net | Approximately $150 million |  |
| Income Tax Rate<sup>(</sup><sup>3</sup><sup>)</sup> | Approximately 21% |  |
| Net Income attributable to Magna<sup>(</sup><sup>4</sup><sup>)</sup> | $1.1 - $1.4 billion |  |
| Capital Spending | Approximately $2.4 billion |  |
| Notes:<br><sup>(</sup><sup>2</sup><sup>)</sup> Adjusted EBIT Margin is the ratio of Adjusted EBIT to Total Sales<br><sup>(</sup><sup>3</sup><sup>)</sup> The Income Tax Rate has been calculated using Adjusted EBIT and is based on current tax legislation<br><sup>(</sup><sup>4</sup><sup>)</sup> Net Income attributable to Magna excludes Other expense (income), net | Notes:<br><sup>(</sup><sup>2</sup><sup>)</sup> Adjusted EBIT Margin is the ratio of Adjusted EBIT to Total Sales<br><sup>(</sup><sup>3</sup><sup>)</sup> The Income Tax Rate has been calculated using Adjusted EBIT and is based on current tax legislation<br><sup>(</sup><sup>4</sup><sup>)</sup> Net Income attributable to Magna excludes Other expense (income), net | Notes:<br><sup>(</sup><sup>2</sup><sup>)</sup> Adjusted EBIT Margin is the ratio of Adjusted EBIT to Total Sales<br><sup>(</sup><sup>3</sup><sup>)</sup> The Income Tax Rate has been calculated using Adjusted EBIT and is based on current tax legislation<br><sup>(</sup><sup>4</sup><sup>)</sup> Net Income attributable to Magna excludes Other expense (income), net |

---

Our Outlook is intended to provide information about management's current expectations and plans and may not be appropriate for other purposes. Although considered reasonable by Magna as of the date of this document, the 2023 and 2025 Outlook above and the underlying assumptions may prove to be inaccurate. Accordingly, our actual results could differ materially from our expectations as set forth herein. The risks identified in the "Forward-Looking Statements" section below represent the primary factors which we believe could cause actual results to differ materially from our expectations.

**Key Drivers of Our Business**

Our operating results are primarily dependent on the levels of North American, European and Chinese car and light truck production by our customers. While we supply systems and components to every major original equipment manufacturer ["OEM"], we do not supply systems and components for every vehicle, nor is the value of our content consistent from one vehicle to the next. As a result, customer and program mix relative to market trends, as well as the value of our content on specific vehicle production programs, are also important drivers of our results.

Ordinarily OEM production volumes are aligned with vehicle sales levels and thus affected by changes in such levels. Aside from vehicle sales levels, production volumes are typically impacted by a range of factors, including: general economic and political conditions; labour disruptions; free trade arrangements; tariffs; relative currency values; commodities prices; supply chains and infrastructure; availability and relative cost of skilled labour; regulatory considerations, including those related to environmental emissions and safety standards; and other factors. Additionally, COVID-19 can impact vehicle production volumes, including through: mandatory stay-at-home orders which restrict production; elevated employee absenteeism; and supply chain disruptions, such as the semiconductor chip shortage currently impacting global vehicle production volumes.

Overall vehicle sales levels are significantly affected by changes in consumer confidence levels, which may in turn be impacted by consumer perceptions and general trends related to the job, housing and stock markets, as well as other macroeconomic and political factors. Other factors which typically impact vehicle sales levels and thus production volumes include: interest rates and/or availability of credit; fuel and energy prices; relative currency values; regulatory restrictions on use of vehicles in certain megacities; and other factors. Additionally, COVID-19 can impact vehicle sales, including through: mandatory stay-at-home orders which restrict operations of car dealerships, as well as through a deterioration in consumer confidence.

**<u>Segment Analysis</u>**

*[All amounts in U.S. dollars and all tabular amounts in millions unless otherwise noted]* 

***Body Exteriors & Structures***

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **For the three months** | **For the three months** |  |  | |
|  | **ended December 31,** | **ended December 31,** |  |  | |
| | **2022** | 2021 | Change | Change | Change |
| **Sales** | $**4004** | $3620 | $384 | + | 11% |
| **Adjusted EBIT** | $**198** | $168 | $30 | + | 18% |
| **Adjusted EBIT as a percentage of sales <sup>(i)</sup>** | **4.9%** | 4.6% |  | + | 0.3% |

---

*(i) Adjusted EBIT as a percentage of sales is calculated as Adjusted EBIT divided by Sales.*

Sales for Body Exteriors & Structures increased 11% or $384 million to $4.00 billion in the fourth quarter of 2022 compared to $3.62 billion in 2021. The increase in sales was primarily due to higher global light vehicle production, the launch of new programs during or subsequent to the fourth quarter of 2021, including the Rivian R1T and R1S, Honda CR-V, Ford F-150 Lightning and Jeep Grand Cherokee, and customer input cost recoveries. These factors were partially offset by a $224 million decrease in reported U.S. dollar sales as a result of the weakening of foreign currencies against the U.S. dollar and net customer price concessions.

Adjusted EBIT increased $30 million to $198 million for the fourth quarter of 2022 compared to $168 million in the fourth quarter of 2021 and Adjusted EBIT as a percentage of sales increased to 4.9% from 4.6%. The increase is primarily due to earnings on higher sales, lower net warranty costs and higher net favourable commercial settlements. These were partially offset by higher net production input costs, including labour, commodity, freight and energy costs, inefficiencies and other costs at certain underperforming facilities, provisions against certain accounts receivable and other balances, and higher launch costs.

***Power & Vision***

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **For the three months** | **For the three months** | |  | |
|  | **ended December 31,** | **ended December 31,** | |  | |
| | **2022** | 2021 | Change | Change | Change |
| **Sales** | $**3016** | $2804 | $212 | + | 8% |
| **Adjusted EBIT** | $**109** | $171 | $(62) | - | 36% |
| **Adjusted EBIT as a percentage of sales** | **3.6%** | 6.1% |  | - | 2.5% |

---

Sales for Power & Vision increased 8% or $212 million to $3.02 billion in the fourth quarter of 2022 compared to $2.80 billion in 2021. The increase in sales was primarily due to higher global light vehicle production, the launch of new programs during or subsequent to the fourth quarter of 2021, including the Chery Arrizo 8, BMW X5 and Nio ES7, and customer input cost recoveries. These factors were partially offset by a $235 million decrease in reported U.S. dollar sales as a result of the weakening of foreign currencies against the U.S. dollar and net customer price concessions.

Adjusted EBIT decreased $62 million to $109 million for the fourth quarter of 2022 compared to $171 million for the fourth quarter of 2021 and Adjusted EBIT as a percentage of sales decreased to 3.6% from 6.1%. These decreases are primarily due to higher net warranty costs, higher net engineering costs related to our electrification and ADAS businesses, including at certain equity-accounted entities, lower equity income and higher launch costs. These were partially offset by earnings on higher sales, customer recoveries in excess of increased net production input costs, including commodity, energy, freight and labour costs and higher net favourable commercial settlements.

***Seating Systems***

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **For the three months** | **For the three months** | |  | |
|  | **ended December 31,** | **ended December 31,** | |  | |
| | **2022** | 2021 | Change | Change | Change |
| **Sales** | $**1345** | $1299 | $46 | + | 4% |
| **Adjusted EBIT** | $**13** | $49 | $(36) | - | 73% |
| **Adjusted EBIT as a percentage of sales** | **1.0%** | 3.8% |  | - | 2.8% |

---

Sales for Seating Systems increased 4% or $46 million to $1.35 billion in the fourth quarter of 2022 compared to $1.30 billion in 2021. The increase in sales was primarily due to higher global light vehicle production, and the launch of new programs during or subsequent to the fourth quarter of 2021, including the BYD Qin Plus, BYD Atto 3 and Changan Shenlan SL03. These factors were partially offset by a $97 million decrease in reported U.S. dollar sales as a result of the weakening of foreign currencies against the U.S. dollar and net customer price concessions.

Adjusted EBIT decreased $36 million to $13 million for the fourth quarter of 2022 compared to $49 million for the fourth quarter of 2021 and Adjusted EBIT as a percentage of sales decreased to 1.0% from 3.8%. These decreases are primarily due to inefficiencies and other costs at an underperforming facility, higher net production input costs, including freight, labour, energy and commodity costs, higher launch costs and provisions against certain accounts receivable and other balances, partially offset by higher net favourable commercial settlements.

***Complete Vehicles***

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **For the three months** | **For the three months** | | |
|  | **ended December 31,** | **ended December 31,** | | |
| | **2022** | 2021 | Change | Change |
| **Complete Vehicle Assembly Volumes** (thousands of units) | **27.0** | 32.7 |  | 17% |
| **Sales** | $**1330** | $1511 | $(181) | 12% |
| **Adjusted EBIT** | $**57** | $98 | $(41) | 42% |
| **Adjusted EBIT as a percentage of sales** | **4.3%** | 6.5% |  | 2.2% |

---

Sales for Complete Vehicles decreased 12% or $181 million to $1.33 billion in the fourth quarter of 2022 compared to $1.51 billion in the fourth quarter of 2021 and assembly volumes decreased 17% or 5,700 units. This sales decline was primarily due to a $164 million decrease in reported U.S. dollar sales as a result of the weakening of the euro against the U.S. dollar and the impact of lower assembly volumes, partially offset by favourable program mix.

Adjusted EBIT decreased $41 million to $57 million for the fourth quarter of 2022 compared to $98 million for the fourth quarter of 2021 and Adjusted EBIT as a percentage of sales decreased to 4.3% from 6.5% primarily due to lower government research and development incentives, higher net production input costs, including energy and labour costs, and lower net favourable commercial settlements.

***Corporate and Other***

Adjusted EBIT decreased $43 million to a loss of $21 million for the fourth quarter of 2022 compared to income of $22 million for the fourth quarter of 2021 primarily due to higher incentive compensation and labour costs, higher costs to accelerate our operational excellence initiatives and a decrease in fees received from our divisions, partially offset by transactional foreign exchange gains in the fourth quarter of 2022 compared to losses in the fourth quarter of 2021.

**MAGNA INTERNATIONAL INC.**

**CONSOLIDATED STATEMENTS OF INCOME**

*[Unaudited]*

*[U.S. dollars in millions, except per share figures]*

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Three months ended** | **Three months ended** | **Year ended** | **Year ended** |
|  | **December 31,** | **December 31,** | **December 31,** | **December 31,** |
| | **2022** | 2021 | **2022** | 2021 |
| **Sales** | $**9568** | $9110 | $**37840** | $36242 |
| **Costs and expenses** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cost of goods sold | **8403** | 7822 | **33188** | 31097 |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | **349** | 389 | **1419** | 1512 |
| &nbsp;&nbsp;&nbsp;&nbsp;Selling, general and administrative | **477** | 414 | **1660** | 1717 |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest expense, net | **17** | 22 | **81** | 78 |
| &nbsp;&nbsp;&nbsp;&nbsp;Equity income | **(17)** | (23) | **(89)** | (148) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other expense (income), net [i] | **193** | (90) | **703** | 38 |
| Income from operations before income taxes | **146** | 576 | **878** | 1948 |
| Income taxes | **35** | 98 | **237** | 395 |
| **Net income** | **111** | 478 | **641** | 1553 |
| Income attributable to non-controlling interests | **(16)** | (14) | **(49)** | (39) |
| **Net income attributable to Magna International Inc.** | $**95** | $464 | $**592** | $1514 |
| Earnings per Common Share: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Basic | $**0.33** | $1.55 | $**2.04** | $5.04 |
| &nbsp;&nbsp;&nbsp;&nbsp;Diluted | $**0.33** | $1.54 | $**2.03** | $5.00 |
| Cash dividends paid per Common Share | $**0.45** | $0.43 | $**1.80** | $1.72 |
| Weighted average number of Common Shares outstanding during the period [in millions]: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Basic | **285.9** | 299.7 | **290.4** | 300.6 |
| &nbsp;&nbsp;&nbsp;&nbsp;Diluted | **286.3** | 301.5 | **291.2** | 302.8 |

---

[i] See "Other (income) expense, net" information included in this Press Release.

**MAGNA INTERNATIONAL INC.**

**CONSOLIDATED BALANCE SHEETS**

*[Unaudited]*

*[U.S. dollars in millions]*

---

| | | |
|:---|:---|:---|
| | **As at**<br>**December 31,**<br>**2022** | As at<br>December 31,<br>2021 |
| **ASSETS** |  |  |
| **Current assets** |  |  |
| Cash and cash equivalents | $**1234** | $2948 |
| Accounts receivable | **6791** | 6307 |
| Inventories | **4180** | 3969 |
| Prepaid expenses and other | **320** | 278 |
|  | **12525** | 13502 |
| Investments | **1429** | 1593 |
| Fixed assets, net | **8173** | 8293 |
| Operating lease right-of-use assets | **1595** | 1700 |
| Intangible assets, net | **452** | 493 |
| Goodwill | **2031** | 2122 |
| Deferred tax assets | **491** | 421 |
| Other assets | **1093** | 962 |
|  | $**27789** | $29086 |
| **LIABILITIES AND SHAREHOLDERS' EQUITY** |  |  |
| **Current liabilities** |  |  |
| Short-term borrowing | $**8** | $— |
| Accounts payable | **6999** | 6465 |
| Other accrued liabilities | **2118** | 2156 |
| Accrued salaries and wages | **850** | 851 |
| Income taxes payable | **93** | 200 |
| Long-term debt due within one year | **654** | 455 |
| Current portion of operating lease liabilities | **276** | 274 |
|  | **10998** | 10401 |
| Long-term debt | **2847** | 3538 |
| Operating lease liabilities | **1288** | 1406 |
| Long-term employee benefit liabilities | **548** | 700 |
| Other long-term liabilities | **461** | 376 |
| Deferred tax liabilities | **312** | 440 |
|  | **16454** | 16861 |
| **Shareholders' equity** |  |  |
| Capital stock |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Common Shares |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[issued: 285,931,816; December 31, 2021 – 297,871,776] | **3299** | 3403 |
| Contributed surplus | **111** | 102 |
| Retained earnings | **8639** | 9231 |
| Accumulated other comprehensive loss | **(1114)** | (900) |
|  | **10935** | 11836 |
| Non-controlling interests | **400** | 389 |
|  | **11335** | 12225 |
|  | $**27789** | $29086 |

---

**MAGNA INTERNATIONAL INC.**

**CONSOLIDATED STATEMENTS OF CASH FLOWS**

*[Unaudited]*

*[U.S. dollars in millions]*

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Three months ended** | **Three months ended** | **Year ended** | **Year ended** |
|  | **December 31,** | **December 31,** | **December 31,** | **December 31,** |
| | **2022** | 2021 | **2022** | 2021 |
| **Cash provided from (used for):** |  |  |  |  |
| **OPERATING ACTIVITIES** |  |  |  |  |
| Net income | $**111** | $478 | $**641** | $1553 |
| Items not involving current cash flows | **406** | 371 | **1776** | 1576 |
|  | **517** | 849 | **2417** | 3129 |
| Changes in operating assets and liabilities | **739** | 502 | **(322)** | (189) |
| **Cash provided from operating activities** | **1256** | 1351 | **2095** | 2940 |
| **INVESTMENT ACTIVITIES** |  |  |  |  |
| Fixed asset additions | **(750)** | (549) | **(1681)** | (1372) |
| Increase in equity method investments | **—** | (63) | **—** | (517) |
| Increase in investments, other assets and intangible assets | **(186)** | (105) | **(455)** | (403) |
| Increase in public and private equity investments | **—** | (45) | **(29)** | (68) |
| Proceeds from dispositions | **20** | 32 | **124** | 81 |
| Business combinations | **(3)** | (31) | **(3)** | (13) |
| Proceeds on (funding for) disposal of facilities | **—** |  | **6** | (41) |
| Settlement of long-term receivable from non-consolidated JV | **—** |  | **—** | 50 |
| **Cash used for investing activities** | **(919)** | (761) | **(2038)** | (2283) |
| **FINANCING ACTIVITIES** |  |  |  |  |
| Issues of debt | **9** | 21 | **54** | 55 |
| Increase (decrease) in short-term borrowings | **8** |  | **11** | (101) |
| Repayments of debt | **(39)** | (16) | **(456)** | (121) |
| Issue of Common Shares on exercise of stock options | **3** | 10 | **8** | 146 |
| Tax witholdings on vesting of equity awards | **—** | (1) | **(15)** | (13) |
| Repurchase of Common Shares | **(5)** | (251) | **(780)** | (517) |
| Contributions to subsidiaries by non-controlling interests | **—** | 8 | **5** | 8 |
| Dividends paid to non-controlling interests | **(24)** | (39) | **(46)** | (49) |
| Dividends paid | **(126)** | (127) | **(514)** | (514) |
| **Cash used for financing activities** | **(174)** | (395) | **(1733)** | (1106) |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash equivalents | **(31)** | 5 | **(38)** | 23 |
| Net increase (decrease) in cash and cash equivalents during the period | **132** | 200 | **(1714)** | (426) |
| Cash, cash equivalents and restricted cash equivalents, beginning of period | **1102** | 2748 | **2948** | 3374 |
| **Cash and cash equivalents, end of period** | $**1234** | $2948 | $**1234** | $2948 |

---

**MAGNA INTERNATIONAL INC.**

**SUPPLEMENTAL DATA**

*[Unaudited] [All amounts in U.S. dollars and all tabular amounts in millions unless otherwise noted]*

**OTHER EXPENSE (INCOME), NET** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  | **Three months ended** | **Three months ended** | **Three months ended** | **Year ended** | **Year ended** | **Year ended** |
|  |  | **December 31,** | **December 31,** | **December 31,** | **December 31,** | **December 31,** | **December 31,** |
| | | | **2022** | 2021 | | **2022** | 2021 |
| Restructuring and impairments | [a] | **$** | **34** | 18 | **$** | **424** | 101 |
| Net losses (gains) on investments | [b] |  | **101** | (8) |  | **221** | 2 |
| Loss on sale of business | [c] |  | **58** |  |  | **58** | 75 |
| Merger agreement termination fee | [d] |  | **—** | (100) |  | **—** | (100) |
| Gain on business combinations | [e] |  | **—** |  |  | **—** | (40) |
|  |  | **$** | **193** | (90) | **$** | **703** | 38 |
| **[a] Restructuring and impairments** |  |  |  |  |  |  |  |
|  |  | **Three months ended** | **Three months ended** | **Three months ended** | **Year ended** | **Year ended** | **Year ended** |
|  |  | **December 31,** | **December 31,** | **December 31,** | **December 31,** | **December 31,** | **December 31,** |
|  |  |  | **2022** | 2021 |  | **2022** | 2021 |
| Body Exteriors & Structures |  | **$** | **12** |  | **$** | **185** | 16 |
| Power & Vision |  |  | **22** | 4 |  | **26** | 67 |
| Seating Systems |  |  | **—** | 14 |  | **10** | 18 |
| Corporate |  |  | **—** |  |  | **203** |  |
| Other expense, net |  |  | **34** | 18 |  | **424** | 101 |
| Tax effect |  |  | **—** | (1) |  | **(17)** | (18) |
| Net loss attributable to Magna |  | **$** | **34** | 17 | **$** | **407** | 83 |
| Included in the table above, the Company recorded a $376 million [$361 million after tax] impairment charge related to its investment in Russia during the second quarter of 2022. This included net asset impairments of $173 million and a $203 million reserve against the related foreign currency translation losses that are included in accumulated other comprehensive loss. The net asset impairments consisted of $163 million and $10 million in our Body Exteriors & Structures segment and our Seating segment, respectively. | Included in the table above, the Company recorded a $376 million [$361 million after tax] impairment charge related to its investment in Russia during the second quarter of 2022. This included net asset impairments of $173 million and a $203 million reserve against the related foreign currency translation losses that are included in accumulated other comprehensive loss. The net asset impairments consisted of $163 million and $10 million in our Body Exteriors & Structures segment and our Seating segment, respectively. | Included in the table above, the Company recorded a $376 million [$361 million after tax] impairment charge related to its investment in Russia during the second quarter of 2022. This included net asset impairments of $173 million and a $203 million reserve against the related foreign currency translation losses that are included in accumulated other comprehensive loss. The net asset impairments consisted of $163 million and $10 million in our Body Exteriors & Structures segment and our Seating segment, respectively. | Included in the table above, the Company recorded a $376 million [$361 million after tax] impairment charge related to its investment in Russia during the second quarter of 2022. This included net asset impairments of $173 million and a $203 million reserve against the related foreign currency translation losses that are included in accumulated other comprehensive loss. The net asset impairments consisted of $163 million and $10 million in our Body Exteriors & Structures segment and our Seating segment, respectively. | Included in the table above, the Company recorded a $376 million [$361 million after tax] impairment charge related to its investment in Russia during the second quarter of 2022. This included net asset impairments of $173 million and a $203 million reserve against the related foreign currency translation losses that are included in accumulated other comprehensive loss. The net asset impairments consisted of $163 million and $10 million in our Body Exteriors & Structures segment and our Seating segment, respectively. | Included in the table above, the Company recorded a $376 million [$361 million after tax] impairment charge related to its investment in Russia during the second quarter of 2022. This included net asset impairments of $173 million and a $203 million reserve against the related foreign currency translation losses that are included in accumulated other comprehensive loss. The net asset impairments consisted of $163 million and $10 million in our Body Exteriors & Structures segment and our Seating segment, respectively. | Included in the table above, the Company recorded a $376 million [$361 million after tax] impairment charge related to its investment in Russia during the second quarter of 2022. This included net asset impairments of $173 million and a $203 million reserve against the related foreign currency translation losses that are included in accumulated other comprehensive loss. The net asset impairments consisted of $163 million and $10 million in our Body Exteriors & Structures segment and our Seating segment, respectively. | Included in the table above, the Company recorded a $376 million [$361 million after tax] impairment charge related to its investment in Russia during the second quarter of 2022. This included net asset impairments of $173 million and a $203 million reserve against the related foreign currency translation losses that are included in accumulated other comprehensive loss. The net asset impairments consisted of $163 million and $10 million in our Body Exteriors & Structures segment and our Seating segment, respectively. |
| **[b] Net losses (gains) on investments** |  |  |  |  |  |  |  |
|  |  | **Three months ended** | **Three months ended** | **Three months ended** | **Year ended** | **Year ended** | **Year ended** |
|  |  | **December 31,** | **December 31,** | **December 31,** | **December 31,** | **December 31,** | **December 31,** |
|  |  |  | **2022** | 2021 |  | **2022** | 2021 |
| Revaluation of public company warrants |  | **$** | **77** | (14) | **$** | **173** | (4) |
| Revaluation of public and private equity investments | Revaluation of public and private equity investments |  | **24** | 6 |  | **48** | 6 |
| Other expense (income), net |  |  | **101** | (8) |  | **221** | 2 |
| Tax effect |  |  | **(26)** | 6 |  | **(53)** | 7 |
| Net loss (income) attributable to Magna |  | **$** | **75** | (2) | **$** | **168** | 9 |
| **[c] Loss on sale of business** |  |  |  |  |  |  |  |
| During the fourth quarter of 2022, the Company entered into an agreement to sell a European Power & Vision operation in early 2023. Under the terms of the arrangement, the Company expects to provide the buyer with $42 million of funding, resulting in a loss of $58 million [$57 million after tax].<br>During the third quarter of 2021, the Company sold three Body Exteriors & Structures operations in Germany. Under the terms of the arrangement, the Company provided the buyer with $41 million of funding, resulting in a loss on disposal of $75 million. [$75 million after tax]. | During the fourth quarter of 2022, the Company entered into an agreement to sell a European Power & Vision operation in early 2023. Under the terms of the arrangement, the Company expects to provide the buyer with $42 million of funding, resulting in a loss of $58 million [$57 million after tax].<br>During the third quarter of 2021, the Company sold three Body Exteriors & Structures operations in Germany. Under the terms of the arrangement, the Company provided the buyer with $41 million of funding, resulting in a loss on disposal of $75 million. [$75 million after tax]. | During the fourth quarter of 2022, the Company entered into an agreement to sell a European Power & Vision operation in early 2023. Under the terms of the arrangement, the Company expects to provide the buyer with $42 million of funding, resulting in a loss of $58 million [$57 million after tax].<br>During the third quarter of 2021, the Company sold three Body Exteriors & Structures operations in Germany. Under the terms of the arrangement, the Company provided the buyer with $41 million of funding, resulting in a loss on disposal of $75 million. [$75 million after tax]. | During the fourth quarter of 2022, the Company entered into an agreement to sell a European Power & Vision operation in early 2023. Under the terms of the arrangement, the Company expects to provide the buyer with $42 million of funding, resulting in a loss of $58 million [$57 million after tax].<br>During the third quarter of 2021, the Company sold three Body Exteriors & Structures operations in Germany. Under the terms of the arrangement, the Company provided the buyer with $41 million of funding, resulting in a loss on disposal of $75 million. [$75 million after tax]. | During the fourth quarter of 2022, the Company entered into an agreement to sell a European Power & Vision operation in early 2023. Under the terms of the arrangement, the Company expects to provide the buyer with $42 million of funding, resulting in a loss of $58 million [$57 million after tax].<br>During the third quarter of 2021, the Company sold three Body Exteriors & Structures operations in Germany. Under the terms of the arrangement, the Company provided the buyer with $41 million of funding, resulting in a loss on disposal of $75 million. [$75 million after tax]. | During the fourth quarter of 2022, the Company entered into an agreement to sell a European Power & Vision operation in early 2023. Under the terms of the arrangement, the Company expects to provide the buyer with $42 million of funding, resulting in a loss of $58 million [$57 million after tax].<br>During the third quarter of 2021, the Company sold three Body Exteriors & Structures operations in Germany. Under the terms of the arrangement, the Company provided the buyer with $41 million of funding, resulting in a loss on disposal of $75 million. [$75 million after tax]. | During the fourth quarter of 2022, the Company entered into an agreement to sell a European Power & Vision operation in early 2023. Under the terms of the arrangement, the Company expects to provide the buyer with $42 million of funding, resulting in a loss of $58 million [$57 million after tax].<br>During the third quarter of 2021, the Company sold three Body Exteriors & Structures operations in Germany. Under the terms of the arrangement, the Company provided the buyer with $41 million of funding, resulting in a loss on disposal of $75 million. [$75 million after tax]. | During the fourth quarter of 2022, the Company entered into an agreement to sell a European Power & Vision operation in early 2023. Under the terms of the arrangement, the Company expects to provide the buyer with $42 million of funding, resulting in a loss of $58 million [$57 million after tax].<br>During the third quarter of 2021, the Company sold three Body Exteriors & Structures operations in Germany. Under the terms of the arrangement, the Company provided the buyer with $41 million of funding, resulting in a loss on disposal of $75 million. [$75 million after tax]. |
| **[d] Merger agreement termination fee** |  |  |  |  |  |  |  |
| During the fourth quarter of 2021, Veoneer, Inc. ("Veoneer") terminated its merger agreement with Magna. In connection with the termination of the merger agreement, Veoneer paid the Company a termination fee which, net of the Company's associated transaction costs, amounted to $100 million [ $75 million after tax]. | During the fourth quarter of 2021, Veoneer, Inc. ("Veoneer") terminated its merger agreement with Magna. In connection with the termination of the merger agreement, Veoneer paid the Company a termination fee which, net of the Company's associated transaction costs, amounted to $100 million [ $75 million after tax]. | During the fourth quarter of 2021, Veoneer, Inc. ("Veoneer") terminated its merger agreement with Magna. In connection with the termination of the merger agreement, Veoneer paid the Company a termination fee which, net of the Company's associated transaction costs, amounted to $100 million [ $75 million after tax]. | During the fourth quarter of 2021, Veoneer, Inc. ("Veoneer") terminated its merger agreement with Magna. In connection with the termination of the merger agreement, Veoneer paid the Company a termination fee which, net of the Company's associated transaction costs, amounted to $100 million [ $75 million after tax]. | During the fourth quarter of 2021, Veoneer, Inc. ("Veoneer") terminated its merger agreement with Magna. In connection with the termination of the merger agreement, Veoneer paid the Company a termination fee which, net of the Company's associated transaction costs, amounted to $100 million [ $75 million after tax]. | During the fourth quarter of 2021, Veoneer, Inc. ("Veoneer") terminated its merger agreement with Magna. In connection with the termination of the merger agreement, Veoneer paid the Company a termination fee which, net of the Company's associated transaction costs, amounted to $100 million [ $75 million after tax]. | During the fourth quarter of 2021, Veoneer, Inc. ("Veoneer") terminated its merger agreement with Magna. In connection with the termination of the merger agreement, Veoneer paid the Company a termination fee which, net of the Company's associated transaction costs, amounted to $100 million [ $75 million after tax]. | During the fourth quarter of 2021, Veoneer, Inc. ("Veoneer") terminated its merger agreement with Magna. In connection with the termination of the merger agreement, Veoneer paid the Company a termination fee which, net of the Company's associated transaction costs, amounted to $100 million [ $75 million after tax]. |
| **[e] Gain on business combinations** |  |  |  |  |  |  |  |
| During the first quarter of 2021, the Company acquired a 65% equity interest and a controlling financial interest in Chongqing Hongli Zhixin Scientific Technology Development Group LLC. The acquisition included an additional 15% equity interest in two entities for which the Company previously used equity accounting. On the change in basis of accounting, the Company recognized a $22 million gain [$22 million after tax].<br>Also during the first quarter of 2021, the Company recorded a gain of $18 million [$18 million after tax] in connection with the distribution of substantially all of the assets of the Company's European joint venture, Getrag Ford Transmission GmbH. | During the first quarter of 2021, the Company acquired a 65% equity interest and a controlling financial interest in Chongqing Hongli Zhixin Scientific Technology Development Group LLC. The acquisition included an additional 15% equity interest in two entities for which the Company previously used equity accounting. On the change in basis of accounting, the Company recognized a $22 million gain [$22 million after tax].<br>Also during the first quarter of 2021, the Company recorded a gain of $18 million [$18 million after tax] in connection with the distribution of substantially all of the assets of the Company's European joint venture, Getrag Ford Transmission GmbH. | During the first quarter of 2021, the Company acquired a 65% equity interest and a controlling financial interest in Chongqing Hongli Zhixin Scientific Technology Development Group LLC. The acquisition included an additional 15% equity interest in two entities for which the Company previously used equity accounting. On the change in basis of accounting, the Company recognized a $22 million gain [$22 million after tax].<br>Also during the first quarter of 2021, the Company recorded a gain of $18 million [$18 million after tax] in connection with the distribution of substantially all of the assets of the Company's European joint venture, Getrag Ford Transmission GmbH. | During the first quarter of 2021, the Company acquired a 65% equity interest and a controlling financial interest in Chongqing Hongli Zhixin Scientific Technology Development Group LLC. The acquisition included an additional 15% equity interest in two entities for which the Company previously used equity accounting. On the change in basis of accounting, the Company recognized a $22 million gain [$22 million after tax].<br>Also during the first quarter of 2021, the Company recorded a gain of $18 million [$18 million after tax] in connection with the distribution of substantially all of the assets of the Company's European joint venture, Getrag Ford Transmission GmbH. | During the first quarter of 2021, the Company acquired a 65% equity interest and a controlling financial interest in Chongqing Hongli Zhixin Scientific Technology Development Group LLC. The acquisition included an additional 15% equity interest in two entities for which the Company previously used equity accounting. On the change in basis of accounting, the Company recognized a $22 million gain [$22 million after tax].<br>Also during the first quarter of 2021, the Company recorded a gain of $18 million [$18 million after tax] in connection with the distribution of substantially all of the assets of the Company's European joint venture, Getrag Ford Transmission GmbH. | During the first quarter of 2021, the Company acquired a 65% equity interest and a controlling financial interest in Chongqing Hongli Zhixin Scientific Technology Development Group LLC. The acquisition included an additional 15% equity interest in two entities for which the Company previously used equity accounting. On the change in basis of accounting, the Company recognized a $22 million gain [$22 million after tax].<br>Also during the first quarter of 2021, the Company recorded a gain of $18 million [$18 million after tax] in connection with the distribution of substantially all of the assets of the Company's European joint venture, Getrag Ford Transmission GmbH. | During the first quarter of 2021, the Company acquired a 65% equity interest and a controlling financial interest in Chongqing Hongli Zhixin Scientific Technology Development Group LLC. The acquisition included an additional 15% equity interest in two entities for which the Company previously used equity accounting. On the change in basis of accounting, the Company recognized a $22 million gain [$22 million after tax].<br>Also during the first quarter of 2021, the Company recorded a gain of $18 million [$18 million after tax] in connection with the distribution of substantially all of the assets of the Company's European joint venture, Getrag Ford Transmission GmbH. | During the first quarter of 2021, the Company acquired a 65% equity interest and a controlling financial interest in Chongqing Hongli Zhixin Scientific Technology Development Group LLC. The acquisition included an additional 15% equity interest in two entities for which the Company previously used equity accounting. On the change in basis of accounting, the Company recognized a $22 million gain [$22 million after tax].<br>Also during the first quarter of 2021, the Company recorded a gain of $18 million [$18 million after tax] in connection with the distribution of substantially all of the assets of the Company's European joint venture, Getrag Ford Transmission GmbH. |

---

**SEGMENTED INFORMATION**

Magna is a global automotive supplier which has complete vehicle engineering and contract manufacturing expertise, as well as product capabilities which include body, chassis, exterior, seating, powertrain, active driver assistance, electronics, mirrors & lighting, mechatronics and roof systems. Magna also has electronic and software capabilities across many of these areas.

The Company is organized under four operating segments: Body Exteriors & Structures, Power & Vision, Seating Systems and Complete Vehicles. These segments have been determined on the basis of technological opportunities, product similarities, and market and operating factors, and are also the Company's reportable segments.

The Company's chief operating decision maker uses Adjusted Earnings before Interest and Income Taxes ["Adjusted EBIT"] as the measure of segment profit or loss, since management believes Adjusted EBIT is the most appropriate measure of operational profitability or loss for its reporting segments. Adjusted EBIT is calculated by taking Net income and adding back Income taxes, Interest expense, net, and Other expense (income), net.

The following tables show segment information for the Company's reporting segments: See Non-GAAP Financial Measures section for a reconciliation of Adjusted EBIT to the Company's consolidated net income.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Three months ended December 31, 2022** | **Three months ended December 31, 2022** | **Three months ended December 31, 2022** | **Three months ended December 31, 2022** | **Three months ended December 31, 2022** | **Three months ended December 31, 2022** |
| | **Total<br>sales** | **External<br>sales** | **Adjusted<br>EBIT [ii]** | **Depreciation<br>and<br>amortization** | **Equity<br>(income)<br>loss** | **Fixed<br>asset<br>additions** |
| Body Exteriors & Structures | $**4004** | $**3945** | $**198** | $**171** | $**—** | $**442** |
| Power & Vision | **3016** | **2961** | **109** | **124** | **(5)** | **203** |
| Seating Systems | **1345** | **1344** | **13** | **20** | **(6)** | **43** |
| Complete Vehicles | **1330** | **1318** | **57** | **28** | **(7)** | **52** |
| Corporate & Other [i] | **(127)** | **—** | **(21)** | **6** | **1** | **10** |
| **Total Reportable Segments** | $**9568** | $**9568** | $**356** | $**349** | $**(17)** | $**750** |
|  | Three months ended December 31, 2021 | Three months ended December 31, 2021 | Three months ended December 31, 2021 | Three months ended December 31, 2021 | Three months ended December 31, 2021 | Three months ended December 31, 2021 |
|  | Total<br>sales | External<br>sales | Adjusted<br>EBIT [ii] | Depreciation<br>and<br>amortization | Equity<br>loss<br>(income) | Fixed<br>asset<br>additions |
| Body Exteriors & Structures | $3620 | $3558 | $168 | $189 | $5 | $311 |
| Power & Vision | 2804 | 2757 | 171 | 145 | (18) | 181 |
| Seating Systems | 1299 | 1294 | 49 | 23 | (2) | 34 |
| Complete Vehicles | 1511 | 1500 | 98 | 27 | (7) | 20 |
| Corporate & Other [i] | (124) | 1 | 22 | 5 | (1) | 3 |
| Total Reportable Segments | $9110 | $9110 | $508 | $389 | $(23) | $549 |
|  | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** | **Year ended December 31, 2022** |
|  | **Total<br>sales** | **External<br>sales** | **Adjusted<br>EBIT [ii]** | **Depreciation<br>and<br>amortization** | **Equity<br>loss<br>(income)** | **Fixed<br> asset<br>additions** |
| Body Exteriors & Structures | $**16004** | $**15763** | $**843** | $**706** | $**10** | $**928** |
| Power & Vision | **11861** | **11636** | **471** | **504** | **(77)** | **544** |
| Seating Systems | **5269** | **5252** | **99** | **84** | **(15)** | **101** |
| Complete Vehicles | **5221** | **5180** | **235** | **107** | **(10)** | **94** |
| Corporate & Other [i] | **(515)** | **9** | **14** | **18** | **3** | **14** |
| **Total Reportable Segments** | $**37840** | $**37840** | $**1662** | $**1419** | $**(89)** | $**1681** |
|  | Year ended December 31, 2021 | Year ended December 31, 2021 | Year ended December 31, 2021 | Year ended December 31, 2021 | Year ended December 31, 2021 | Year ended December 31, 2021 |
|  | Total<br>sales | External<br>sales | Adjusted<br>EBIT [ii] | Depreciation<br>and<br>amortization | Equity<br>loss<br>(income) | Fixed<br>asset<br>additions |
| Body Exteriors & Structures | $14477 | $14196 | $820 | $743 | $13 | $711 |
| Power & Vision | 11342 | 11129 | 738 | 554 | (134) | 522 |
| Seating Systems | 4891 | 4851 | 152 | 92 | (9) | 73 |
| Complete Vehicles | 6106 | 6057 | 287 | 103 | (10) | 54 |
| Corporate & Other [i] | (574) | 9 | 67 | 20 | (8) | 12 |
| Total Reportable Segments | $36242 | $36242 | $2064 | $1512 | $(148) | $1372 |
| [i]&nbsp;&nbsp;&nbsp;&nbsp; Included in Corporate and Other Adjusted EBIT are intercompany fees charged to the automotive segments.<br>[ii] For a definition and reconciliation of Adjusted EBIT, refer to our Non-GAAP financial measures reconciliation included in the "Supplemental Data" section of this Press Release. | [i]&nbsp;&nbsp;&nbsp;&nbsp; Included in Corporate and Other Adjusted EBIT are intercompany fees charged to the automotive segments.<br>[ii] For a definition and reconciliation of Adjusted EBIT, refer to our Non-GAAP financial measures reconciliation included in the "Supplemental Data" section of this Press Release. | [i]&nbsp;&nbsp;&nbsp;&nbsp; Included in Corporate and Other Adjusted EBIT are intercompany fees charged to the automotive segments.<br>[ii] For a definition and reconciliation of Adjusted EBIT, refer to our Non-GAAP financial measures reconciliation included in the "Supplemental Data" section of this Press Release. | [i]&nbsp;&nbsp;&nbsp;&nbsp; Included in Corporate and Other Adjusted EBIT are intercompany fees charged to the automotive segments.<br>[ii] For a definition and reconciliation of Adjusted EBIT, refer to our Non-GAAP financial measures reconciliation included in the "Supplemental Data" section of this Press Release. | [i]&nbsp;&nbsp;&nbsp;&nbsp; Included in Corporate and Other Adjusted EBIT are intercompany fees charged to the automotive segments.<br>[ii] For a definition and reconciliation of Adjusted EBIT, refer to our Non-GAAP financial measures reconciliation included in the "Supplemental Data" section of this Press Release. | [i]&nbsp;&nbsp;&nbsp;&nbsp; Included in Corporate and Other Adjusted EBIT are intercompany fees charged to the automotive segments.<br>[ii] For a definition and reconciliation of Adjusted EBIT, refer to our Non-GAAP financial measures reconciliation included in the "Supplemental Data" section of this Press Release. | [i]&nbsp;&nbsp;&nbsp;&nbsp; Included in Corporate and Other Adjusted EBIT are intercompany fees charged to the automotive segments.<br>[ii] For a definition and reconciliation of Adjusted EBIT, refer to our Non-GAAP financial measures reconciliation included in the "Supplemental Data" section of this Press Release. |

---

**MAGNA INTERNATIONAL INC.**

**SUPPLEMENTAL DATA**

*[Unaudited]*

*[All amounts in U.S. dollars and all tabular amounts in millions unless otherwise noted]*

**NON-GAAP FINANCIAL MEASURES**

In addition to the financial results reported in accordance with U.S. GAAP, this press release contains references to the Non-GAAP financial measures reconciled below. We believe the Non-GAAP financial measures used in this press release are useful to both management and investors in their analysis of the Company's financial position and results of operations, and to improve comparability between fiscal periods. In particular, management believes that Adjusted EBIT and Adjusted diluted earnings per share, are useful measures in assessing the Company's financial performance by excluding certain items that are not indicative of the Company's core operating performance. The presentation of Non-GAAP financial measures should not be considered in isolation, or as a substitute for the Company's related financial results prepared in accordance with U.S. GAAP.

The following table reconciles Net income to Adjusted EBIT:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Three months ended** | **Three months ended** | **Year ended** | **Year ended** |
|  | **December 31,** | **December 31,** | **December 31,** | **December 31,** |
| | **2022** | 2021 | **2022** | 2021 |
| **Net Income** | $**111** | $478 | $**641** | $1553 |
| Add: |  |  |  |  |
| &nbsp;&nbsp;Interest expense, net | **17** | 22 | **81** | 78 |
| &nbsp;&nbsp;Other expense (income), net | **193** | (90) | **703** | 38 |
| &nbsp;&nbsp;Income taxes | **35** | 98 | **237** | 395 |
| **Adjusted EBIT** | $**356** | $508 | $**1662** | $2064 |
| The following table reconciles Net income attributable to Magna International Inc. to Adjusted diluted earnings per share: | The following table reconciles Net income attributable to Magna International Inc. to Adjusted diluted earnings per share: | The following table reconciles Net income attributable to Magna International Inc. to Adjusted diluted earnings per share: | The following table reconciles Net income attributable to Magna International Inc. to Adjusted diluted earnings per share: | The following table reconciles Net income attributable to Magna International Inc. to Adjusted diluted earnings per share: |
|  | **Three months ended** | **Three months ended** | **Year ended** | **Year ended** |
|  | **December 31,** | **December 31,** | **December 31,** | **December 31,** |
|  | **2022** | 2021 | **2022** | 2021 |
| **Net income attributable to Magna International Inc.** | $**95** | $464 | $**592** | $1514 |
| Add: |  |  |  |  |
| &nbsp;&nbsp;Other expense (income), net | **193** | (90) | **703** | 38 |
| &nbsp;&nbsp;Tax effect on Other expense (income), net | **(27)** | 30 | **(71)** | 14 |
| &nbsp;&nbsp;Adjustments to Deferred Tax Valuation Allowances [i] | **—** | (13) | **(29)** | (13) |
| **Adjusted net income attributable to Magna International Inc.** | **261** | 391 | **1195** | 1553 |
| Diluted weighted average number of Common Shares |  |  |  |  |
| &nbsp;&nbsp;outstanding during the period (millions): | **286.3** | 301.5 | **291.2** | 302.8 |
| **Adjusted diluted earnings per share** | $**0.91** | $1.30 | $**4.10** | $5.13 |
| [i] During 2022 and 2021, the Company recorded adjustments to the valuation allowance against its deferred tax assets in certain European and North America countries. The net effect of these adjustments was a reduction in income tax expense of $29 million and $13 million, respectively [''Adjustments to Deferred Tax Valuation Allowances'']. | [i] During 2022 and 2021, the Company recorded adjustments to the valuation allowance against its deferred tax assets in certain European and North America countries. The net effect of these adjustments was a reduction in income tax expense of $29 million and $13 million, respectively [''Adjustments to Deferred Tax Valuation Allowances'']. | [i] During 2022 and 2021, the Company recorded adjustments to the valuation allowance against its deferred tax assets in certain European and North America countries. The net effect of these adjustments was a reduction in income tax expense of $29 million and $13 million, respectively [''Adjustments to Deferred Tax Valuation Allowances'']. | [i] During 2022 and 2021, the Company recorded adjustments to the valuation allowance against its deferred tax assets in certain European and North America countries. The net effect of these adjustments was a reduction in income tax expense of $29 million and $13 million, respectively [''Adjustments to Deferred Tax Valuation Allowances'']. | [i] During 2022 and 2021, the Company recorded adjustments to the valuation allowance against its deferred tax assets in certain European and North America countries. The net effect of these adjustments was a reduction in income tax expense of $29 million and $13 million, respectively [''Adjustments to Deferred Tax Valuation Allowances'']. |

---

Certain of the forward-looking financial measures above are provided on a Non-GAAP basis. We do not provide a reconciliation of such forward-looking measures to the most directly comparable financial measures calculated and presented in accordance with U.S. GAAP. To do so would be potentially misleading and not practical given the difficulty of projecting items that are not reflective of on-going operations in any future period. The magnitude of these items, however, may be significant.

This press release together with our Management's Discussion and Analysis of Results of Operations and Financial Position and our Interim Financial Statements are available in the Investor Relations section of our website at <u>www.magna.com/company/investors</u> and filed electronically through the System for Electronic Document Analysis and Retrieval (SEDAR) which can be accessed at <u>www.sedar.com</u> as well as on the United States Securities and Exchange Commission's Electronic Data Gathering, Analysis and Retrieval System (EDGAR), which can be accessed at <u>www.sec.gov</u>.

We will hold a conference call for interested analysts and shareholders to discuss our fourth quarter and year ended December 31, 2022 results on Friday, February 10, 2023 at 8:00 a.m. ET. The conference call will be chaired by Swamy Kotagiri, Chief Executive Officer. The number to use for this call from North America is 1-800-891-9945. International callers should use 1-416-981-9017. Please call in at least 10 minutes prior to the call start time. We will also webcast the conference call at <u>www.magna.com</u>. The slide presentation accompanying the conference call as well as our <u>financial review</u> summary will be available on our website Friday prior to the call.

**TAGS**

Quarterly earnings, financial results, vehicle production, outlook

**INVESTOR CONTACT**

Louis Tonelli, Vice-President, Investor Relations

<u>louis.tonelli@magna.com</u> │ 905.726.7035

**MEDIA CONTACT**

Tracy Fuerst, Vice-President, Corporate Communications & PR

<u>tracy.fuerst@magna.com</u> │ 248.761.7004

**WEBCAST CONTACT**

Nancy Hansford, Executive Assistant, Investor Relations

<u>nancy.hansford@magna.com</u> │ 905.726.7108

**OUR BUSINESS <sup>(5)</sup>**

Magna is more than one of the world's largest suppliers in the automotive space. We are a mobility technology company with a global, entrepreneurial-minded team of over 168,000<sup>(6)</sup> employees and an organizational structure designed to innovate like a startup. With 65+ years of expertise, and a systems approach to design, engineering and manufacturing that touches nearly every aspect of the vehicle, we are positioned to support advancing mobility in a transforming industry. Our global network includes 343 manufacturing operations and 88 product development, engineering and sales centres spanning 29 countries.

For further information about Magna (NYSE:MGA; TSX:MG), please visit <u>www.magna.com</u> or follow us on Twitter @MagnaInt.

 <sup>(5)</sup> *Manufacturing operations, product development, engineering and sales centres include certain operations accounted for under the equity method*.

<sup>(6)</sup> *Number of employees includes approximately 158,000 employees at our wholly owned or controlled entities and over 10,000 employees at certain operations accounted for under the equity method.*

**FORWARD-LOOKING STATEMENTS**

Certain statements in this press release constitute "forward-looking information" or "forward-looking statements" (collectively, "forward-looking statements"). Any such forward-looking statements are intended to provide information about management's current expectations and plans and may not be appropriate for other purposes. Forward-looking statements may include financial and other projections, as well as statements regarding our future plans, strategic objectives or economic performance, or the assumptions underlying any of the foregoing, and other statements that are not recitations of historical fact. We use words such as "may", "would", "could", "should", "will", "likely", "expect", "anticipate", "believe", "intend", "plan", "aim", "forecast", "outlook", "project", "estimate", "target" and similar expressions suggesting future outcomes or events to identify forward-looking statements. The following table identifies the material forward-looking statements contained in this document, together with the material potential risks that we currently believe could cause actual results to differ materially from such forward-looking statements. Readers should also consider all of the risk factors which follow below the table:

---

| | |
|:---|:---|
| **Material Forward-Looking Statement** | **Material Potential Risks Related to Applicable Forward-Looking Statement** |
| Light Vehicle Production | Light vehicle sales levels Supply disruptions Production allocation decisions by OEMs |
| Total Sales<br>Segment Sales | Impact of elevated interest rates and availability of credit on consumer confidence and in turn vehicle sales and production<br> Potential supply disruptions Impact of the Russian invasion of Ukraine on global economic growth and industry production volumes Impact of deteriorating vehicle affordability on consumer demand and in turn vehicle sales and production Concentration of sales with six customers Shifts in market shares among vehicles or vehicle segments Shifts in consumer "take rates" for products we sell |
| Adjusted EBIT Margin<br>Net Income Attributable to Magna | Same risks as for Total Sales and Segment Sales above Successful execution of critical program launches, including complete vehicle manufacturing of the Fisker Ocean SUV Operational underperformance Production inefficiencies in our operations due to volatile vehicle production allocation decisions by OEMs Higher costs incurred to mitigate the risk of supply disruptions Inflationary pressures Our ability to secure cost recoveries from customers and/or otherwise offset higher input costs Price concessions Commodity cost volatility Scrap steel price volatility Higher labour costs Tax risks |
| Equity Income | Same risks as Adjusted EBIT Margin and Net Income Attributable to Magna Risks related to conducting business through joint ventures |

---

Forward-looking statements are based on information currently available to us and are based on assumptions and analyses made by us in light of our experience and our perception of historical trends, current conditions and expected future developments, as well as other factors we believe are appropriate in the circumstances. While we believe we have a reasonable basis for making any such forward-looking statements, they are not a guarantee of future performance or outcomes. In addition to the factors in the table above, whether actual results and developments conform to our expectations and predictions is subject to a number of risks, assumptions and uncertainties, many of which are beyond our control, and the effects of which can be difficult to predict, including, without limitation:

---

| | |
|:---|:---|
| **Risks Related to the Automotive Industry**<br> economic cyclicality; regional production volume declines, including as a result of deteriorating vehicle affordability; intense competition; potential restrictions on free trade; trade disputes/tariffs; **Customer and Supplier Related Risks**<br> concentration of sales with six customers; risks related to conducting business with newer OEMs with limited operating history, product maturity and warranty experience; OEM consolidation and cooperation; shifts in market shares among vehicles or vehicle segments; shifts in consumer "take rates" for products we sell; dependence on outsourcing; quarterly sales fluctuations; potential loss of any material purchase orders; a deterioration in the financial condition of our supply base; **Manufacturing / Operational Risks**<br> product and new facility launch risks, including the successful launch of critical programs such as the Fisker Ocean SUV; operational underperformance; supply disruptions, including with respect to semiconductor chips; impact of volatile OEM vehicle production allocation decisions on the efficiency of our operations; risks arising from Russia's invasion of Ukraine and compliance with the sanctions regime imposed in response; restructuring costs; impairment charges; labour disruptions; risks related to COVID-19; climate change risks; attraction/retention of skilled labour; **IT Security/Cybersecurity Risk**<br> IT/Cybersecurity breach; Product Cybersecurity breach; | **Pricing Risks**<br> inflationary pressures; our ability to secure cost recoveries from customers and/or otherwise offset higher input costs; pricing risks following time of quote and start of production; price concessions; commodity cost volatility; declines in scrap steel/aluminum prices; **Warranty / Recall Risks**<br> costs related to repair or replacement of defective products, including due to a recall; warranty or recall costs that exceed warranty provision or insurance coverage limits; product liability claims; **Acquisition Risks**<br> competition for strategic acquisition targets; inherent merger and acquisition risks; acquisition integration risks; **Other Business Risks**<br> risks related to conducting business through joint ventures; our ability to consistently develop and commercialize innovative products or processes; our changing business risk profile as a result of increased investment in electrification and autonomous driving, including: higher R&D and engineering costs, and challenges in quoting for profitable returns on products for which we may not have significant quoting experience; risks of conducting business in foreign markets; fluctuations in relative currency values; tax risks; reduced financial flexibility as a result of an economic shock; changes in credit ratings assigned to us; **Legal, Regulatory and Other Risks**<br> antitrust risk; legal claims and/or regulatory actions against us; and changes in laws and regulations, including those related to vehicle emissions or made as a result of the COVID-19 pandemic. |

---

**In evaluating forward-looking statements or forward-looking information, we caution readers not to place undue reliance on any forward-looking statement. Additionally, readers should specifically consider the various factors which could cause actual events or results to differ materially from those indicated by such forward-looking statements, including the risks, assumptions and uncertainties above which are:** 

* **discussed under the "Industry Trends and Risks" heading of our Management's Discussion and Analysis; and** 

* **set out in our Annual Information Form filed with securities commissions in Canada, our annual report on Form 40-F filed with the United States Securities and Exchange Commission, and subsequent filings.** 

**Readers should also consider discussion of our risk mitigation activities with respect to certain risk factors, which can be also found in our Annual Information Form.**

## Exhibit 99.2

**EXHIBIT 99.2**

---

| | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **FINANCIAL REVIEW OF MAGNA INTERNATIONAL INC.** | **FINANCIAL REVIEW OF MAGNA INTERNATIONAL INC.** | **FINANCIAL REVIEW OF MAGNA INTERNATIONAL INC.** | **FINANCIAL REVIEW OF MAGNA INTERNATIONAL INC.** | **FINANCIAL REVIEW OF MAGNA INTERNATIONAL INC.** | **FINANCIAL REVIEW OF MAGNA INTERNATIONAL INC.** | **FINANCIAL REVIEW OF MAGNA INTERNATIONAL INC.** |  |  |  |  |  |  |  |  |  |  |
| (United States dollars in millions, except per share figures) (Unaudited) | (United States dollars in millions, except per share figures) (Unaudited) | (United States dollars in millions, except per share figures) (Unaudited) | (United States dollars in millions, except per share figures) (Unaudited) | (United States dollars in millions, except per share figures) (Unaudited) | (United States dollars in millions, except per share figures) (Unaudited) | (United States dollars in millions, except per share figures) (Unaudited) |  |  |  |  |  |  |  |  |  |  |
| **Prepared in accordance with U.S. GAAP** | **Prepared in accordance with U.S. GAAP** | **Prepared in accordance with U.S. GAAP** | **Prepared in accordance with U.S. GAAP** | **Prepared in accordance with U.S. GAAP** | **Prepared in accordance with U.S. GAAP** | **Prepared in accordance with U.S. GAAP** |  |  |  |  |  |  |  |  |  |  |
|  |  | **2020** | **2020** | **2020** | **2020** | **2020** | **2021** | **2021** | **2021** | **2021** | **2021** | **2022** | **2022** | **2022** | **2022** | **2022** |
|  | **<u>Note</u>** | **<u>1st Q</u>** | **<u>2nd Q</u>** | **<u>3rd Q</u>** | **<u>4th Q</u>** | **<u>TOTAL</u>** | **<u>1st Q</u>** | **<u>2nd Q</u>** | **<u>3rd Q</u>** | **<u>4th Q</u>** | **<u>TOTAL</u>** | **<u>1st Q</u>** | **<u>2nd Q</u>** | **<u>3rd Q</u>** | **<u>4th Q</u>** | **<u>TOTAL</u>** |
| **<u>VEHICLE VOLUME STATISTICS (in millions)</u>** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| **North American vehicle volumes (including Mexico)** |  | **3.777** | **1.240** | **3.945** | **4.039** | **13.001** | **3.752** | **3.213** | **2.921** | **3.247** | **13.133** | **3.641** | **3.563** | **3.612** | **3.461** | **14.277** |
| **European vehicle volumes:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| **Western Europe** |  | **2.905** | **1.171** | **2.613** | **3.407** | **10.096** | **3.046** | **2.444** | **1.785** | **2.393** | **9.668** | **2.495** | **2.599** | **2.293** | **2.562** | **9.949** |
| **Eastern Europe** |  | **1.804** | **0.927** | **1.676** | **2.007** | **6.414** | **1.870** | **1.671** | **1.212** | **1.650** | **6.403** | **1.509** | **1.411** | **1.310** | **1.429** | **5.659** |
| **Total Europe** |  | **4.709** | **2.098** | **4.289** | **5.414** | **16.510** | **4.916** | **4.115** | **2.997** | **4.043** | **16.071** | **4.004** | **4.010** | **3.603** | **3.991** | **15.608** |
| **Asia volumes** |  | **8.243** | **8.388** | **10.821** | **13.726** | **41.178** | **11.553** | **10.398** | **9.686** | **17.270** | **48.907** | **11.591** | **10.392** | **12.541** | **12.956** | **47.480** |
| **China volumes** |  | **3.215** | **5.828** | **6.246** | **8.081** | **23.370** | **6.036** | **5.706** | **5.455** | **7.386** | **24.583** | **6.432** | **5.548** | **7.294** | **7.582** | **26.856** |
| **Magna Steyr vehicle assembly volumes** |  | **0.031** | **0.017** | **0.027** | **0.035** | **0.110** | **0.040** | **0.030** | **0.023** | **0.033** | **0.126** | **0.025** | **0.031** | **0.025** | **0.027** | **0.108** |
| **<u>AVERAGE FOREIGN EXCHANGE RATES</u>** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| **1 Canadian dollar equals U.S. dollars** |  | 0.745 | 0.722 | 0.751 | 0.767 | **0.746** | 0.790 | 0.814 | 0.794 | 0.794 | **0.798** | 0.790 | 0.783 | 0.765 | 0.737 | **0.769** |
| **1 Euro equals U.S. dollars** |  | 1.102 | 1.101 | 1.170 | 1.192 | **1.141** | 1.205 | 1.206 | 1.178 | 1.144 | **1.183** | 1.123 | 1.064 | 1.006 | 1.019 | **1.053** |
| **1 Chinese renminbi equals U.S. dollars** |  | 0.143 | 0.141 | 0.145 | 0.151 | **0.145** | 0.154 | 0.155 | 0.155 | 0.156 | **0.155** | 0.158 | 0.151 | 0.146 | 0.140 | **0.149** |
| **<u>CONSOLIDATED STATEMENTS OF INCOME (LOSS)</u>** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| **Body Exteriors & Structures** |  | 3676 | &nbsp;&nbsp;&nbsp;&nbsp; 1623 | &nbsp;&nbsp;&nbsp;&nbsp; 3858 | &nbsp;&nbsp;&nbsp;&nbsp; 4393 | **13550** | 4025 | &nbsp;&nbsp;&nbsp;&nbsp; 3647 | &nbsp;&nbsp;&nbsp;&nbsp; 3185 | &nbsp;&nbsp;&nbsp;&nbsp; 3620 | **14477** | 4077 | &nbsp;&nbsp;&nbsp;&nbsp; 3947 | &nbsp;&nbsp;&nbsp;&nbsp; 3976 | &nbsp;&nbsp;&nbsp;&nbsp; 4004 | **16004** |
| **Power & Vision** |  | 2523 | &nbsp;&nbsp;&nbsp;&nbsp; 1298 | &nbsp;&nbsp;&nbsp;&nbsp; 2722 | &nbsp;&nbsp;&nbsp;&nbsp; 3179 | **9722** | 3156 | &nbsp;&nbsp;&nbsp;&nbsp; 2881 | &nbsp;&nbsp;&nbsp;&nbsp; 2501 | &nbsp;&nbsp;&nbsp;&nbsp; 2804 | **11342** | 3046 | &nbsp;&nbsp;&nbsp;&nbsp; 2888 | &nbsp;&nbsp;&nbsp;&nbsp; 2911 | &nbsp;&nbsp;&nbsp;&nbsp; 3016 | **11861** |
| **Seating Systems** |  | 1261 | 524 | 1280 | 1390 | **4455** | 1303 | 1166 | 1123 | 1299 | **4891** | 1376 | 1253 | 1295 | 1345 | **5269** |
| **Complete Vehicles** |  | 1321 | 933 | 1402 | 1759 | **5415** | 1850 | 1490 | 1255 | 1511 | **6106** | 1275 | 1403 | 1213 | 1330 | **5221** |
| **Corporate & Other** |  | (124) | (85) | (133) | (153) | **(495)** | (155) | (150) | (145) | (124) | **(574)** | (132) | (129) | (127) | (127) | **(515)** |
|  |  | **8657** | **&nbsp;&nbsp;&nbsp;&nbsp; 4293** | **&nbsp;&nbsp;&nbsp;&nbsp; 9129** | **&nbsp;&nbsp;&nbsp;&nbsp; 10568** | **32647** | **10179** | **&nbsp;&nbsp;&nbsp;&nbsp; 9034** | **&nbsp;&nbsp;&nbsp;&nbsp; 7919** | **&nbsp;&nbsp;&nbsp;&nbsp; 9110** | **36242** | **9642** | **&nbsp;&nbsp;&nbsp;&nbsp; 9362** | **&nbsp;&nbsp;&nbsp;&nbsp; 9268** | **&nbsp;&nbsp;&nbsp;&nbsp; 9568** | **37840** |
| **Costs and expenses:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| **Cost of goods sold** |  | 7567 | &nbsp;&nbsp;&nbsp;&nbsp; 4206 | &nbsp;&nbsp;&nbsp;&nbsp; 7681 | &nbsp;&nbsp;&nbsp;&nbsp; 8753 | **28207** | 8662 | &nbsp;&nbsp;&nbsp;&nbsp; 7728 | &nbsp;&nbsp;&nbsp;&nbsp; 6885 | &nbsp;&nbsp;&nbsp;&nbsp; 7822 | **31097** | 8400 | &nbsp;&nbsp;&nbsp;&nbsp; 8259 | &nbsp;&nbsp;&nbsp;&nbsp; 8126 | &nbsp;&nbsp;&nbsp;&nbsp; 8403 | **33188** |
| **Selling, general and administrative** |  | 381 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 378 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 448 | **1587** | 430 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 419 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 454 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 414 | **1717** | 386 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 387 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 477 | **1660** |
| **Equity income** |  | (30) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (25) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (44) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (90) | **(189)** | (47) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (44) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (34) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (23) | **(148)** | (20) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (25) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (27) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (17) | **(89)** |
| **EBITDA** | **1** | **739** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (266)** | **&nbsp;&nbsp;&nbsp;&nbsp; 1112** | **&nbsp;&nbsp;&nbsp;&nbsp; 1457** | **3042** | **1134** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 931** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 614** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 897** | **3576** | **876** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 718** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 782** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 705** | **3081** |
| **Depreciation and amortization** |  | 336 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 334 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 334 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 362 | **1366** | 364 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 374 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 389 | **1512** | 369 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 341 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 349 | **1419** |
| **EBIT** | **2** | **403** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (600)** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 778** | **&nbsp;&nbsp;&nbsp;&nbsp; 1095** | **1676** | **770** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 557** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 229** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 508** | **2064** | **507** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 358** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 441** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 356** | **1662** |
| **Interest expense, net** |  | 17 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22 | **86** | 23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22 | **78** | 26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17 | **81** |
| **Operating income (loss)** | **1** | **386** | **(621)** | **752** | **1073** | **1590** | **747** | **546** | **207** | **486** | **1986** | **481** | **338** | **423** | **339** | **1581** |
| **Impairment charges** |  |  |  | 337 |  | **337** |  |  |  |  | **-** |  | 376 |  | 12 | **388** |
| **Other expense (income)** |  |  | 168 | (21) | 100 | **247** | (58) | 6 | 180 | (90) | **38** | 61 | 50 | 23 | 181 | **315** |
| **Other expense (income), net** | **1** |  | 168 | 316 | 100 | **584** | (58) | 6 | 180 | (90) | **38** | 61 | 426 | 23 | 193 | **703** |
| **Income (loss) from operations before income taxes** |  | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 386** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (789)** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 436** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 973** | **&nbsp;&nbsp;&nbsp;&nbsp; 1006** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 805** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 540** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 576** | **&nbsp;&nbsp;&nbsp;&nbsp; 1948** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 420** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (88)** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 400** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 146** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 878** |
| **Income tax expense (benefit)** |  | 134 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (137) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 109 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 223 | **329** | 183 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 104 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98 | **395** | 41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 104 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35 | **237** |
| **Net income (loss)** |  | **252** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (652)** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 327** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 750** | **677** | **622** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 436** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 478** | **1553** | **379** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (145)** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 296** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 111** | **641** |
| **(Income) loss attributable to non-controlling interests** | **1** | 9 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (12) | **80** | (7) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (12) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (6) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (14) | **(39)** | (15) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (11) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (7) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (16) | **(49)** |
| **Net income (loss) attributable to Magna International Inc.** |  | **261** | **(647)** | **405** | **738** | **757** | **615** | **424** | **11** | **464** | **1514** | **364** | **(156)** | **289** | **95** | **592** |
| **Adjusted net income (loss) attributable to Magna International Inc.** | **1** | **261** | **(511)** | **585** | **851** | **1186** | **566** | **426** | **170** | **391** | **1553** | **383** | **243** | **308** | **261** | **1195** |
| **Diluted earnings (loss) per share:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| **Diluted** |  | **$&nbsp;&nbsp;&nbsp;&nbsp; 0.86** | **$&nbsp;&nbsp;&nbsp;&nbsp; (2.17)** | **$&nbsp;&nbsp;&nbsp;&nbsp; 1.35** | **$&nbsp;&nbsp;&nbsp;&nbsp; 2.45** | **$&nbsp;&nbsp;&nbsp;&nbsp; 2.52** | **$&nbsp;&nbsp;&nbsp;&nbsp; 2.03** | **$&nbsp;&nbsp;&nbsp;&nbsp; 1.40** | **$&nbsp;&nbsp;&nbsp;&nbsp; 0.04** | **$&nbsp;&nbsp;&nbsp;&nbsp; 1.54** | **$&nbsp;&nbsp;&nbsp;&nbsp; 5.00** | **$&nbsp;&nbsp;&nbsp;&nbsp; 1.22** | **$&nbsp;&nbsp;&nbsp;&nbsp; (0.54)** | **$&nbsp;&nbsp;&nbsp;&nbsp; 1.00** | **$&nbsp;&nbsp;&nbsp;&nbsp; 0.33** | **$&nbsp;&nbsp;&nbsp;&nbsp; 2.03** |
| **Adjusted Diluted** |  | **$&nbsp;&nbsp;&nbsp;&nbsp; 0.86** | **$&nbsp;&nbsp;&nbsp;&nbsp; (1.71)** | **$&nbsp;&nbsp;&nbsp;&nbsp; 1.95** | **$&nbsp;&nbsp;&nbsp;&nbsp; 2.83** | **$&nbsp;&nbsp;&nbsp;&nbsp; 3.95** | **$&nbsp;&nbsp;&nbsp;&nbsp; 1.86** | **$&nbsp;&nbsp;&nbsp;&nbsp; 1.40** | **$&nbsp;&nbsp;&nbsp;&nbsp; 0.56** | **$&nbsp;&nbsp;&nbsp;&nbsp; 1.30** | **$&nbsp;&nbsp;&nbsp;&nbsp; 5.13** | **$&nbsp;&nbsp;&nbsp;&nbsp; 1.28** | **$&nbsp;&nbsp;&nbsp;&nbsp; 0.83** | **$&nbsp;&nbsp;&nbsp;&nbsp; 1.07** | **$&nbsp;&nbsp;&nbsp;&nbsp; 0.91** | **$&nbsp;&nbsp;&nbsp;&nbsp; 4.10** |
| **Weighted average number of Common Shares outstanding** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| **during the year (in millions):** |  | **302.7** | **298.4** | **299.4** | **300.9** | **300.4** | **303.6** | **303.6** | **302.6** | **301.5** | **302.8** | **298.1** | **291.1** | **288.5** | **286.3** | **291.2** |
| **<u>PROFITABILITY RATIOS</u>** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| **Selling, general and administrative /Sales** |  | 4.4% | 8.8% | 4.2% | 4.2% | **4.9%** | 4.2% | 4.6% | 5.7% | 4.5% | **4.7%** | 4.0% | 4.4% | 4.2% | 5.0% | **4.4%** |
| **EBITDA /Sales** |  | 8.5% | -6.2% | 12.2% | 13.8% | **9.3%** | 11.1% | 10.3% | 7.8% | 9.8% | **9.9%** | 9.1% | 7.7% | 8.4% | 7.4% | **8.1%** |
| **EBIT /Sales** |  | 4.7% | -14.0% | 8.5% | 10.4% | **5.1%** | 7.6% | 6.2% | 2.9% | 5.6% | **5.7%** | 5.3% | 3.8% | 4.8% | 3.7% | **4.4%** |
| **Operating income(loss) /Sales** |  | 4.5% | -14.5% | 8.2% | 10.2% | **4.9%** | 7.3% | 6.0% | 2.6% | 5.3% | **5.5%** | 5.0% | 3.6% | 4.6% | 3.5% | **4.2%** |
| **Effective tax rate** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| **Reported** |  | 34.7% | 17.4% | 25.0% | 22.9% | **32.7%** | 22.7% | 19.3% | 37.0% | 17.0% | **20.3%** | 9.8% | -64.8% | 26.0% | 24.0% | **27.0%** |
| **Excluding Other expense (income), net of taxes** |  | 34.7% | 16.9% | 22.6% | 19.6% | **25.7%** | 23.3% | 19.8% | 15.0% | 16.7% | **19.8%** | 17.3% | 24.9% | 25.5% | 18.3% | **21.3%** |

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| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **FINANCIAL REVIEW OF MAGNA INTERNATIONAL INC.** | **FINANCIAL REVIEW OF MAGNA INTERNATIONAL INC.** | **FINANCIAL REVIEW OF MAGNA INTERNATIONAL INC.** | **FINANCIAL REVIEW OF MAGNA INTERNATIONAL INC.** | **FINANCIAL REVIEW OF MAGNA INTERNATIONAL INC.** |  |  |  |  |  |  |  |  |
| **<u>CONSOLIDATED BALANCE SHEETS</u>** | **<u>CONSOLIDATED BALANCE SHEETS</u>** | **<u>CONSOLIDATED BALANCE SHEETS</u>** | **<u>CONSOLIDATED BALANCE SHEETS</u>** | **<u>CONSOLIDATED BALANCE SHEETS</u>** |  |  |  |  |  |  |  |  |
| (United States dollars in millions) (Unaudited) | (United States dollars in millions) (Unaudited) | (United States dollars in millions) (Unaudited) | (United States dollars in millions) (Unaudited) | (United States dollars in millions) (Unaudited) |  |  |  |  |  |  |  |  |
|  | **2020** | **2020** | **2020** | **2020** | **2021** | **2021** | **2021** | **2021** | **2022** | **2022** | **2022** | **2022** |
|  | **<u>1st Q</u>** | **<u>2nd Q</u>** | **<u>3rd Q</u>** | **<u>4th Q</u>** | **<u>1st Q</u>** | **<u>2nd Q</u>** | **<u>3rd Q</u>** | **<u>4th Q</u>** | **<u>1st Q</u>** | **<u>2nd Q</u>** | **<u>3rd Q</u>** | **<u>4th Q</u>** |
| **FUNDS EMPLOYED** |  |  |  |  |  |  |  |  |  |  |  |  |
| **Current assets:** |  |  |  |  |  |  |  |  |  |  |  |  |
| **Accounts receivable** | 5684 | &nbsp;&nbsp;&nbsp;&nbsp; 5253 | &nbsp;&nbsp;&nbsp;&nbsp; 6618 | &nbsp;&nbsp;&nbsp;&nbsp; 6394 | 7176 | &nbsp;&nbsp;&nbsp;&nbsp; 6531 | &nbsp;&nbsp;&nbsp;&nbsp; 6082 | &nbsp;&nbsp;&nbsp;&nbsp; 6307 | 7006 | &nbsp;&nbsp;&nbsp;&nbsp; 6764 | &nbsp;&nbsp;&nbsp;&nbsp; 7082 | &nbsp;&nbsp;&nbsp;&nbsp; 6791 |
| **Inventories** | 3531 | &nbsp;&nbsp;&nbsp;&nbsp; 3503 | &nbsp;&nbsp;&nbsp;&nbsp; 3509 | &nbsp;&nbsp;&nbsp;&nbsp; 3444 | 3645 | &nbsp;&nbsp;&nbsp;&nbsp; 3999 | &nbsp;&nbsp;&nbsp;&nbsp; 4150 | &nbsp;&nbsp;&nbsp;&nbsp; 3969 | 4258 | &nbsp;&nbsp;&nbsp;&nbsp; 4064 | &nbsp;&nbsp;&nbsp;&nbsp; 4108 | &nbsp;&nbsp;&nbsp;&nbsp; 4180 |
| **Prepaid expenses and other** | 234 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 216 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 196 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 260 | 290 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 294 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 247 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 278 | 310 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 262 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 269 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 320 |
|  | **&nbsp;&nbsp;&nbsp;&nbsp; 9449** | **&nbsp;&nbsp;&nbsp;&nbsp; 8972** | **&nbsp;&nbsp;&nbsp;&nbsp; 10323** | **&nbsp;&nbsp;&nbsp;&nbsp; 10098** | **&nbsp;&nbsp;&nbsp;&nbsp; 11111** | **&nbsp;&nbsp;&nbsp;&nbsp; 10824** | **&nbsp;&nbsp;&nbsp;&nbsp; 10479** | **&nbsp;&nbsp;&nbsp;&nbsp; 10554** | **&nbsp;&nbsp;&nbsp;&nbsp; 11574** | **&nbsp;&nbsp;&nbsp;&nbsp; 11090** | **&nbsp;&nbsp;&nbsp;&nbsp; 11459** | **&nbsp;&nbsp;&nbsp;&nbsp; 11291** |
| **Current liabilities:** |  |  |  |  |  |  |  |  |  |  |  |  |
| **Accounts payable** | 5635 | &nbsp;&nbsp;&nbsp;&nbsp; 4243 | &nbsp;&nbsp;&nbsp;&nbsp; 5808 | &nbsp;&nbsp;&nbsp;&nbsp; 6266 | 6787 | &nbsp;&nbsp;&nbsp;&nbsp; 6248 | &nbsp;&nbsp;&nbsp;&nbsp; 5914 | &nbsp;&nbsp;&nbsp;&nbsp; 6465 | 6845 | &nbsp;&nbsp;&nbsp;&nbsp; 6443 | &nbsp;&nbsp;&nbsp;&nbsp; 6624 | &nbsp;&nbsp;&nbsp;&nbsp; 6999 |
| **Accrued salaries and wages** | 807 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 691 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 851 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 815 | 897 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 912 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 893 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 851 | 879 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 766 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 810 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 850 |
| **Other accrued liabilities** | 1921 | &nbsp;&nbsp;&nbsp;&nbsp; 2058 | &nbsp;&nbsp;&nbsp;&nbsp; 2246 | &nbsp;&nbsp;&nbsp;&nbsp; 2254 | 2298 | &nbsp;&nbsp;&nbsp;&nbsp; 2186 | &nbsp;&nbsp;&nbsp;&nbsp; 2070 | &nbsp;&nbsp;&nbsp;&nbsp; 2156 | 2123 | &nbsp;&nbsp;&nbsp;&nbsp; 2096 | &nbsp;&nbsp;&nbsp;&nbsp; 1986 | &nbsp;&nbsp;&nbsp;&nbsp; 2118 |
| **Income taxes payable (receivable)** | 18 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (87) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (69) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38 | 109 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 123 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 200 | 190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 136 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93 |
|  | **8381** | **&nbsp;&nbsp;&nbsp;&nbsp; 6905** | **&nbsp;&nbsp;&nbsp;&nbsp; 8836** | **&nbsp;&nbsp;&nbsp;&nbsp; 9373** | **10091** | **&nbsp;&nbsp;&nbsp;&nbsp; 9469** | **&nbsp;&nbsp;&nbsp;&nbsp; 9002** | **&nbsp;&nbsp;&nbsp;&nbsp; 9672** | **10037** | **&nbsp;&nbsp;&nbsp;&nbsp; 9441** | **&nbsp;&nbsp;&nbsp;&nbsp; 9517** | **&nbsp;&nbsp;&nbsp;&nbsp; 10060** |
| **Working capital** | **1068** | **&nbsp;&nbsp;&nbsp;&nbsp; 2067** | **&nbsp;&nbsp;&nbsp;&nbsp; 1487** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 725** | **1020** | **&nbsp;&nbsp;&nbsp;&nbsp; 1355** | **&nbsp;&nbsp;&nbsp;&nbsp; 1477** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 882** | **1537** | **&nbsp;&nbsp;&nbsp;&nbsp; 1649** | **&nbsp;&nbsp;&nbsp;&nbsp; 1942** | **&nbsp;&nbsp;&nbsp;&nbsp; 1231** |
| **Investments** | &nbsp;&nbsp;&nbsp;&nbsp; 1336 | &nbsp;&nbsp;&nbsp;&nbsp; 1336 | &nbsp;&nbsp;&nbsp;&nbsp; 1143 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 947 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 960 | &nbsp;&nbsp;&nbsp;&nbsp; 1124 | &nbsp;&nbsp;&nbsp;&nbsp; 1455 | &nbsp;&nbsp;&nbsp;&nbsp; 1593 | &nbsp;&nbsp;&nbsp;&nbsp; 1487 | &nbsp;&nbsp;&nbsp;&nbsp; 1375 | &nbsp;&nbsp;&nbsp;&nbsp; 1323 | &nbsp;&nbsp;&nbsp;&nbsp; 1429 |
| **Fixed assets, net** | &nbsp;&nbsp;&nbsp;&nbsp; 7948 | &nbsp;&nbsp;&nbsp;&nbsp; 7860 | &nbsp;&nbsp;&nbsp;&nbsp; 7898 | &nbsp;&nbsp;&nbsp;&nbsp; 8475 | &nbsp;&nbsp;&nbsp;&nbsp; 8305 | &nbsp;&nbsp;&nbsp;&nbsp; 8297 | &nbsp;&nbsp;&nbsp;&nbsp; 8166 | &nbsp;&nbsp;&nbsp;&nbsp; 8293 | &nbsp;&nbsp;&nbsp;&nbsp; 8090 | &nbsp;&nbsp;&nbsp;&nbsp; 7723 | &nbsp;&nbsp;&nbsp;&nbsp; 7470 | &nbsp;&nbsp;&nbsp;&nbsp; 8173 |
| **Goodwill, other assets and intangible assets** | 3340 | &nbsp;&nbsp;&nbsp;&nbsp; 3362 | &nbsp;&nbsp;&nbsp;&nbsp; 3423 | &nbsp;&nbsp;&nbsp;&nbsp; 3539 | 3614 | &nbsp;&nbsp;&nbsp;&nbsp; 3632 | &nbsp;&nbsp;&nbsp;&nbsp; 3530 | &nbsp;&nbsp;&nbsp;&nbsp; 3577 | 3544 | &nbsp;&nbsp;&nbsp;&nbsp; 3353 | &nbsp;&nbsp;&nbsp;&nbsp; 3280 | &nbsp;&nbsp;&nbsp;&nbsp; 3576 |
| **Operating lease right-of-use assets** | &nbsp;&nbsp;&nbsp;&nbsp; 1788 | &nbsp;&nbsp;&nbsp;&nbsp; 1777 | &nbsp;&nbsp;&nbsp;&nbsp; 1787 | &nbsp;&nbsp;&nbsp;&nbsp; 1906 | &nbsp;&nbsp;&nbsp;&nbsp; 1869 | &nbsp;&nbsp;&nbsp;&nbsp; 1854 | &nbsp;&nbsp;&nbsp;&nbsp; 1731 | &nbsp;&nbsp;&nbsp;&nbsp; 1700 | &nbsp;&nbsp;&nbsp;&nbsp; 1667 | &nbsp;&nbsp;&nbsp;&nbsp; 1587 | &nbsp;&nbsp;&nbsp;&nbsp; 1545 | &nbsp;&nbsp;&nbsp;&nbsp; 1595 |
| **Funds employed** | **&nbsp;&nbsp;&nbsp;&nbsp; 15480** | **&nbsp;&nbsp;&nbsp;&nbsp; 16402** | **&nbsp;&nbsp;&nbsp;&nbsp; 15738** | **&nbsp;&nbsp;&nbsp;&nbsp; 15592** | **&nbsp;&nbsp;&nbsp;&nbsp; 15768** | **&nbsp;&nbsp;&nbsp;&nbsp; 16262** | **&nbsp;&nbsp;&nbsp;&nbsp; 16359** | **&nbsp;&nbsp;&nbsp;&nbsp; 16045** | **&nbsp;&nbsp;&nbsp;&nbsp; 16325** | **&nbsp;&nbsp;&nbsp;&nbsp; 15687** | **&nbsp;&nbsp;&nbsp;&nbsp; 15560** | **&nbsp;&nbsp;&nbsp;&nbsp; 16004** |
| **FINANCING** |  |  |  |  |  |  |  |  |  |  |  |  |
| **Straight debt:** |  |  |  |  |  |  |  |  |  |  |  |  |
| **Cash and cash equivalents** | (1146) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (533) | &nbsp;&nbsp;&nbsp;&nbsp; (1498) | &nbsp;&nbsp;&nbsp;&nbsp; (3268) | (3464) | &nbsp;&nbsp;&nbsp;&nbsp; (3426) | &nbsp;&nbsp;&nbsp;&nbsp; (2748) | &nbsp;&nbsp;&nbsp;&nbsp; (2948) | (1996) | &nbsp;&nbsp;&nbsp;&nbsp; (1664) | &nbsp;&nbsp;&nbsp;&nbsp; (1102) | &nbsp;&nbsp;&nbsp;&nbsp; (1234) |
| **Short-term borrowings** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 188 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8 |
| **Long-term debt due within one year** | 93 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 129 | 137 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 117 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 101 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 455 | 127 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 654 |
| **Long-term debt** | 3021 | &nbsp;&nbsp;&nbsp;&nbsp; 3771 | &nbsp;&nbsp;&nbsp;&nbsp; 3832 | &nbsp;&nbsp;&nbsp;&nbsp; 3973 | 3935 | &nbsp;&nbsp;&nbsp;&nbsp; 3941 | &nbsp;&nbsp;&nbsp;&nbsp; 3908 | &nbsp;&nbsp;&nbsp;&nbsp; 3538 | 3501 | &nbsp;&nbsp;&nbsp;&nbsp; 3408 | &nbsp;&nbsp;&nbsp;&nbsp; 3325 | &nbsp;&nbsp;&nbsp;&nbsp; 2847 |
| **Current portion of operating lease liabilities** | 218 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 221 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 226 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 241 | 244 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 278 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 269 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 274 | 276 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 266 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 276 |
| **Operating lease liabilities** | 1586 | &nbsp;&nbsp;&nbsp;&nbsp; 1577 | &nbsp;&nbsp;&nbsp;&nbsp; 1582 | &nbsp;&nbsp;&nbsp;&nbsp; 1656 | &nbsp;&nbsp;&nbsp;&nbsp; 1613 | &nbsp;&nbsp;&nbsp;&nbsp; 1563 | &nbsp;&nbsp;&nbsp;&nbsp; 1438 | &nbsp;&nbsp;&nbsp;&nbsp; 1406 | &nbsp;&nbsp;&nbsp;&nbsp; 1369 | &nbsp;&nbsp;&nbsp;&nbsp; 1294 | &nbsp;&nbsp;&nbsp;&nbsp; 1254 | &nbsp;&nbsp;&nbsp;&nbsp; 1288 |
|  | **&nbsp;&nbsp;&nbsp;&nbsp; 3772** | **&nbsp;&nbsp;&nbsp;&nbsp; 5374** | **&nbsp;&nbsp;&nbsp;&nbsp; 4240** | **&nbsp;&nbsp;&nbsp;&nbsp; 2731** | **&nbsp;&nbsp;&nbsp;&nbsp; 2465** | **&nbsp;&nbsp;&nbsp;&nbsp; 2473** | **&nbsp;&nbsp;&nbsp;&nbsp; 2968** | **&nbsp;&nbsp;&nbsp;&nbsp; 2725** | **&nbsp;&nbsp;&nbsp;&nbsp; 3277** | **&nbsp;&nbsp;&nbsp;&nbsp; 3413** | **&nbsp;&nbsp;&nbsp;&nbsp; 3838** | **&nbsp;&nbsp;&nbsp;&nbsp; 3839** |
| **Long-term employee benefit liabilities** | 659 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 675 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 696 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 729 | 733 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 743 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 716 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 700 | 686 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 651 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 617 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 548 |
| **Other long-term liabilities** | 420 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 390 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 305 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 332 | 414 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 482 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 466 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 376 | 374 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 390 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 397 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 461 |
| **Deferred tax liabilities, net** | 87 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 | 104 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 124 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19 | (51) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (111) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (138) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (179) |
|  | **&nbsp;&nbsp;&nbsp;&nbsp; 1166** | **&nbsp;&nbsp;&nbsp;&nbsp; 1075** | **&nbsp;&nbsp;&nbsp;&nbsp; 1088** | **&nbsp;&nbsp;&nbsp;&nbsp; 1141** | **&nbsp;&nbsp;&nbsp;&nbsp; 1251** | **&nbsp;&nbsp;&nbsp;&nbsp; 1349** | **&nbsp;&nbsp;&nbsp;&nbsp; 1222** | **&nbsp;&nbsp;&nbsp;&nbsp; 1095** | **&nbsp;&nbsp;&nbsp;&nbsp; 1009** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 930** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 876** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 830** |
| **Shareholders' equity** | 10542 | &nbsp;&nbsp;&nbsp;&nbsp; 9953 | &nbsp;&nbsp;&nbsp;&nbsp; 10410 | &nbsp;&nbsp;&nbsp;&nbsp; 11720 | 12052 | &nbsp;&nbsp;&nbsp;&nbsp; 12440 | &nbsp;&nbsp;&nbsp;&nbsp; 12169 | &nbsp;&nbsp;&nbsp;&nbsp; 12225 | 12039 | &nbsp;&nbsp;&nbsp;&nbsp; 11344 | &nbsp;&nbsp;&nbsp;&nbsp; 10846 | &nbsp;&nbsp;&nbsp;&nbsp; 11335 |
|  | **&nbsp;&nbsp;&nbsp;&nbsp; 15480** | **&nbsp;&nbsp;&nbsp;&nbsp; 16402** | **&nbsp;&nbsp;&nbsp;&nbsp; 15738** | **&nbsp;&nbsp;&nbsp;&nbsp; 15592** | **&nbsp;&nbsp;&nbsp;&nbsp; 15768** | **&nbsp;&nbsp;&nbsp;&nbsp; 16262** | **&nbsp;&nbsp;&nbsp;&nbsp; 16359** | **&nbsp;&nbsp;&nbsp;&nbsp; 16045** | **&nbsp;&nbsp;&nbsp;&nbsp; 16325** | **&nbsp;&nbsp;&nbsp;&nbsp; 15687** | **&nbsp;&nbsp;&nbsp;&nbsp; 15560** | **&nbsp;&nbsp;&nbsp;&nbsp; 16004** |
| **<u>ASSET UTILIZATION RATIOS</u>** |  |  |  |  |  |  |  |  |  |  |  |  |
| **Days in accounts receivable** | 59.1 | 110.1 | 65.2 | 54.5 | 63.4 | 65.1 | 69.1 | 62.3 | 65.4 | 65 | 68.8 | 63.9 |
| **Days in accounts payable** | 67 | 90.8 | 68.1 | 64.4 | 70.5 | 72.8 | 77.3 | 74.4 | 73.3 | 70.2 | 73.4 | 75 |
| **Inventory turnover - cost of sales** | 8.6 | 4.8 | 8.8 | 10.2 | 9.5 | 7.7 | 6.6 | 7.9 | 7.9 | 8.1 | 7.9 | 8 |
| **Working capital turnover** | 32.4 | 8.3 | 24.6 | 58.3 | 39.9 | 26.7 | 21.4 | 41.3 | 25.1 | 22.7 | 19.1 | 31.1 |
| **Total asset turnover** | 2.2 | 1 | 2.3 | 2.7 | 2.6 | 2.2 | 1.9 | 2.3 | 2.4 | 2.4 | 2.4 | 2.4 |
| **<u>CAPITAL STRUCTURE</u>** |  |  |  |  |  |  |  |  |  |  |  |  |
| **Straight debt** | 24.4% | 32.8% | 26.9% | 17.5% | 15.6% | 15.2% | 18.1% | 17.0% | 20.1% | 21.8% | 24.7% | 24.0% |
| **Long-term employee benefit liabilities, other long-term** |  |  |  |  |  |  |  |  |  |  |  |  |
| **liabilities & deferred tax liabilities, net** | 7.5% | 6.6% | 6.9% | 7.3% | 7.9% | 8.3% | 7.5% | 6.8% | 6.2% | 5.9% | 5.6% | 5.2% |
| **Shareholders' equity** | 68.1% | 60.7% | 66.1% | 75.2% | 76.4% | 76.5% | 74.4% | 76.2% | 73.7% | 72.3% | 69.7% | 70.8% |
|  | 100.1% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| **Debt to total capitalization** | 31.8% | 37.2% | 35.5% | 33.9% | 33.0% | 32.2% | 32.0% | 31.7% | 30.5% | 30.9% | 31.3% | 30.9% |
| **<u>ANNUALIZED RETURNS</u>** |  |  |  |  |  |  |  |  |  |  |  |  |
| **Return on equity (Net income attributable to Magna** |  |  |  |  |  |  |  |  |  |  |  |  |
| International Inc. / Average shareholders' equity) | 9.6% | -25.3% | 15.9% | 26.7% | 20.7% | 13.8% | 0.4% | 15.2% | 12.0% | -5.3% | 10.4% | 3.4% |
| **Adjusted Return on equity (Adjusted Net income attributable** |  |  |  |  |  |  |  |  |  |  |  |  |
| to Magna International Inc. / Average shareholders' equity) | 9.6% | -19.9% | 23.0% | 30.8% | 19.0% | 13.9% | 5.5% | 12.8% | 12.6% | 8.3% | 11.1% | 9.4% |
| **Return on Invested Capital (Annualized after-tax operating** |  |  |  |  |  |  |  |  |  |  |  |  |
| profits / invested capital) | 6.7% | -15.9% | 8.6% | 19.6% | 16.3% | 11.1% | 0.9% | 12.2% | 9.9% | -3.2% | 7.9% | 3.2% |
| **Adjusted Return on Invested Capital (Adjusted Annualized after-tax** |  |  |  |  |  |  |  |  |  |  |  |  |
| operating profits / invested capital) | 6.7% | -12.5% | 15.0% | 22.5% | 15.1% | 11.2% | 4.8% | 10.4% | 10.4% | 6.7% | 8.4% | 7.4% |

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| | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **FINANCIAL REVIEW OF MAGNA INTERNATIONAL INC.** | **FINANCIAL REVIEW OF MAGNA INTERNATIONAL INC.** | **FINANCIAL REVIEW OF MAGNA INTERNATIONAL INC.** | **FINANCIAL REVIEW OF MAGNA INTERNATIONAL INC.** | **FINANCIAL REVIEW OF MAGNA INTERNATIONAL INC.** | **FINANCIAL REVIEW OF MAGNA INTERNATIONAL INC.** | **FINANCIAL REVIEW OF MAGNA INTERNATIONAL INC.** |  |  |  |  |  |  |  |  |  |  |
| **<u>CONSOLIDATED STATEMENTS OF CASH FLOWS</u>** | **<u>CONSOLIDATED STATEMENTS OF CASH FLOWS</u>** | **<u>CONSOLIDATED STATEMENTS OF CASH FLOWS</u>** | **<u>CONSOLIDATED STATEMENTS OF CASH FLOWS</u>** | **<u>CONSOLIDATED STATEMENTS OF CASH FLOWS</u>** | **<u>CONSOLIDATED STATEMENTS OF CASH FLOWS</u>** | **<u>CONSOLIDATED STATEMENTS OF CASH FLOWS</u>** |  |  |  |  |  |  |  |  |  |  |
| (United States dollars in millions) (Unaudited) | (United States dollars in millions) (Unaudited) | (United States dollars in millions) (Unaudited) | (United States dollars in millions) (Unaudited) | (United States dollars in millions) (Unaudited) | (United States dollars in millions) (Unaudited) | (United States dollars in millions) (Unaudited) |  |  |  |  |  |  |  |  |  |  |
|  |  | **2020** | **2020** | **2020** | **2020** | **2020** | **2021** | **2021** | **2021** | **2021** | **2021** | **2022** | **2022** | **2022** | **2022** | **2022** |
| **Cash provided from (used for):** | **<u>Note</u>** | **<u>1st Q</u>** | **<u>2nd Q</u>** | **<u>3rd Q</u>** | **<u>4th Q</u>** | **<u>TOTAL</u>** | **<u>1st Q</u>** | **<u>2nd Q</u>** | **<u>3rd Q</u>** | **<u>4th Q</u>** | **<u>TOTAL</u>** | **<u>1st Q</u>** | **<u>2nd Q</u>** | **<u>3rd Q</u>** | **<u>4th Q</u>** | **<u>TOTAL</u>** |
| **Operating activities** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| **Net income (loss)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 252 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (652) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 327 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 750 | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 677** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 622 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 436 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 478 | **&nbsp;&nbsp;&nbsp;&nbsp; 1553** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 379 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (145) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 296 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 111 | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 641** |
| **Items not involving current cash flows** | **(i)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 344 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 335 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 749 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 548 | **&nbsp;&nbsp;&nbsp;&nbsp; 1976** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 349 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 341 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 515 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 371 | **&nbsp;&nbsp;&nbsp;&nbsp; 1576** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 705 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 295 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 406 | **&nbsp;&nbsp;&nbsp;&nbsp; 1776** |
|  | **(i)** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 596** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (317)** | **&nbsp;&nbsp;&nbsp;&nbsp; 1076** | **&nbsp;&nbsp;&nbsp;&nbsp; 1298** | **&nbsp;&nbsp;&nbsp;&nbsp; 2653** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 971** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 777** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 532** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 849** | **&nbsp;&nbsp;&nbsp;&nbsp; 3129** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 749** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 560** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 591** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 517** | **&nbsp;&nbsp;&nbsp;&nbsp; 2417** |
| **Changes in operating assets and liabilities** | **(i)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (915) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 536 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 961 | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 625** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (310) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (249) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (132) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 502 | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (189)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (569) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (139) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (353) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 739 | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (322)** |
| **Cash provided from (used for) operating activities** |  | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 639** | **&nbsp;&nbsp;&nbsp;&nbsp; (1232)** | **&nbsp;&nbsp;&nbsp;&nbsp; 1612** | **&nbsp;&nbsp;&nbsp;&nbsp; 2259** | **&nbsp;&nbsp;&nbsp;&nbsp; 3278** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 661** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 528** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 400** | **&nbsp;&nbsp;&nbsp;&nbsp; 1351** | **&nbsp;&nbsp;&nbsp;&nbsp; 2940** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 180** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 421** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 238** | **&nbsp;&nbsp;&nbsp;&nbsp; 1256** | **&nbsp;&nbsp;&nbsp;&nbsp; 2095** |
| **Fixed asset additions** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (203) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (169) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (213) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (560) | **&nbsp;&nbsp;&nbsp;&nbsp; (1145)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (212) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (277) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (334) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (549) | **&nbsp;&nbsp;&nbsp;&nbsp; (1372)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (238) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (329) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (364) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (750) | **&nbsp;&nbsp;&nbsp;&nbsp; (1681)** |
| **Increase in equity method investment** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (454) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (63) | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (517)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -** |
| **Increase in investments, other assets and intangible assets** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (93) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (72) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (68) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (98) | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (331)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (104) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (93) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (101) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (105) | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (403)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (64) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (80) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (125) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (186) | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (455)** |
| **Proceeds (funding provided) on sale of business** | **1 (e)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (41) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (41)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6** |
| **Increase in public and private equity investments** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (100) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (12) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (18) | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (132)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (17) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (45) | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (68)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (25) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (29)** |
| **Settlement of long-term receivable from non-consolidated joint venture** | **Settlement of long-term receivable from non-consolidated joint venture** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -** |
| **Proceeds from disposition** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69 | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 117** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32 | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20 | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 124** |
| **Business combinations** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (7) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98 | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (21) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (31) | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (13)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3) | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3)** |
| **Cash (used for) provided from investment activities** |  | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (380)** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (232)** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (279)** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (509)** | **&nbsp;&nbsp;&nbsp;&nbsp; (1400)** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (211)** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (388)** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (923)** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (761)** | **&nbsp;&nbsp;&nbsp;&nbsp; (2283)** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (275)** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (371)** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (473)** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (919)** | **&nbsp;&nbsp;&nbsp;&nbsp; (2038)** |
| **Financing activities** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| **Net issues (repayments) of debt** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (6) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 962 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (246) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (27) | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 683** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (126) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (33) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (13) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5 | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (167)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (328) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (31) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (10) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (22) | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (391)** |
| **Common Shares issued on exercise of stock options** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64 | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 146** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3 | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8** |
| **Repurchase of Common Shares** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (201) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (203)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (162) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (99) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (5) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (251) | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (517)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (383) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (212) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (180) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (5) | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (780)** |
| **Tax withholdings on vesting of equity awards** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (10) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3) | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (13)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (12) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1) | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (13)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (14) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (15)** |
| **Contributions to subsidiaries by non-controlling interests** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18 | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8 | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5** |
| **Dividends paid to non-controlling interests** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (12) | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (18)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (8) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (39) | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (49)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (12) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (10) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (24) | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (46)** |
| **Dividends paid** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (121) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (116) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (115) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (115) | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (467)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (130) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (127) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (130) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (127) | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (514)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (133) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (130) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (125) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (126) | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (514)** |
| **Cash provided from (used for) financing activities** |  | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (340)** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 844** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (348)** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (75)** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (347)** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (217)** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (147)** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (395)** | **&nbsp;&nbsp;&nbsp;&nbsp; (1106)** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (854)** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (381)** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (324)** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (174)** | **&nbsp;&nbsp;&nbsp;&nbsp; (1733)** |
| **Effect of exchange rate changes on cash, cash equivalents** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| **and restricted cash equivalents** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (52) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (15) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (13) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (8) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (31) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (38) |
| **Net increase (decrease) in cash, cash equivalents** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| **and restricted cash equivalents during the period** |  | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (133)** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (611)** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 970** | **&nbsp;&nbsp;&nbsp;&nbsp; 1756** | **&nbsp;&nbsp;&nbsp;&nbsp; 1982** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (38)** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (678)** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 200** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (426)** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (952)** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (332)** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (562)** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 132** | **&nbsp;&nbsp;&nbsp;&nbsp; (1714)** |
| **Cash, cash equivalents and restricted cash equivalents,** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| **beginning of period** | **3** | &nbsp;&nbsp;&nbsp;&nbsp; 1392 | &nbsp;&nbsp;&nbsp;&nbsp; 1259 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 648 | &nbsp;&nbsp;&nbsp;&nbsp; 1618 | &nbsp;&nbsp;&nbsp;&nbsp; 1392 | &nbsp;&nbsp;&nbsp;&nbsp; 3374 | &nbsp;&nbsp;&nbsp;&nbsp; 3464 | &nbsp;&nbsp;&nbsp;&nbsp; 3426 | &nbsp;&nbsp;&nbsp;&nbsp; 2748 | &nbsp;&nbsp;&nbsp;&nbsp; 3374 | &nbsp;&nbsp;&nbsp;&nbsp; 2948 | &nbsp;&nbsp;&nbsp;&nbsp; 1996 | &nbsp;&nbsp;&nbsp;&nbsp; 1664 | &nbsp;&nbsp;&nbsp;&nbsp; 1102 | &nbsp;&nbsp;&nbsp;&nbsp; 2948 |
| **Cash, cash equivalents and restricted cash equivalents,** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| **end of period** |  | **&nbsp;&nbsp;&nbsp;&nbsp; 1259** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 648** | **&nbsp;&nbsp;&nbsp;&nbsp; 1618** | **&nbsp;&nbsp;&nbsp;&nbsp; 3374** | **&nbsp;&nbsp;&nbsp;&nbsp; 3374** | **&nbsp;&nbsp;&nbsp;&nbsp; 3464** | **&nbsp;&nbsp;&nbsp;&nbsp; 3426** | **&nbsp;&nbsp;&nbsp;&nbsp; 2748** | **&nbsp;&nbsp;&nbsp;&nbsp; 2948** | **&nbsp;&nbsp;&nbsp;&nbsp; 2948** | **&nbsp;&nbsp;&nbsp;&nbsp; 1996** | **&nbsp;&nbsp;&nbsp;&nbsp; 1664** | **&nbsp;&nbsp;&nbsp;&nbsp; 1102** | **&nbsp;&nbsp;&nbsp;&nbsp; 1234** | **&nbsp;&nbsp;&nbsp;&nbsp; 1234** |
| (i) Certain amounts in prior periods have been reclassified to conform with current period presentation. | (i) Certain amounts in prior periods have been reclassified to conform with current period presentation. | (i) Certain amounts in prior periods have been reclassified to conform with current period presentation. | (i) Certain amounts in prior periods have been reclassified to conform with current period presentation. | (i) Certain amounts in prior periods have been reclassified to conform with current period presentation. | (i) Certain amounts in prior periods have been reclassified to conform with current period presentation. | (i) Certain amounts in prior periods have been reclassified to conform with current period presentation. | (i) Certain amounts in prior periods have been reclassified to conform with current period presentation. | (i) Certain amounts in prior periods have been reclassified to conform with current period presentation. | (i) Certain amounts in prior periods have been reclassified to conform with current period presentation. | (i) Certain amounts in prior periods have been reclassified to conform with current period presentation. | (i) Certain amounts in prior periods have been reclassified to conform with current period presentation. | (i) Certain amounts in prior periods have been reclassified to conform with current period presentation. | (i) Certain amounts in prior periods have been reclassified to conform with current period presentation. | (i) Certain amounts in prior periods have been reclassified to conform with current period presentation. | (i) Certain amounts in prior periods have been reclassified to conform with current period presentation. | (i) Certain amounts in prior periods have been reclassified to conform with current period presentation. |

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|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **FINANCIAL REVIEW OF MAGNA INTERNATIONAL INC.** | **FINANCIAL REVIEW OF MAGNA INTERNATIONAL INC.** | **FINANCIAL REVIEW OF MAGNA INTERNATIONAL INC.** | **FINANCIAL REVIEW OF MAGNA INTERNATIONAL INC.** | **FINANCIAL REVIEW OF MAGNA INTERNATIONAL INC.** | **FINANCIAL REVIEW OF MAGNA INTERNATIONAL INC.** | **FINANCIAL REVIEW OF MAGNA INTERNATIONAL INC.** |  |  |  |  |  |  |  |  |  |  |
| (United States dollars in millions, except per share figures) (Unaudited) | (United States dollars in millions, except per share figures) (Unaudited) | (United States dollars in millions, except per share figures) (Unaudited) | (United States dollars in millions, except per share figures) (Unaudited) | (United States dollars in millions, except per share figures) (Unaudited) | (United States dollars in millions, except per share figures) (Unaudited) | (United States dollars in millions, except per share figures) (Unaudited) |  |  |  |  |  |  |  |  |  |  |
|  | This Analyst should be read in conjunction with the audited consolidated financial statements for the year ended December 31, 2021. | This Analyst should be read in conjunction with the audited consolidated financial statements for the year ended December 31, 2021. | This Analyst should be read in conjunction with the audited consolidated financial statements for the year ended December 31, 2021. | This Analyst should be read in conjunction with the audited consolidated financial statements for the year ended December 31, 2021. | This Analyst should be read in conjunction with the audited consolidated financial statements for the year ended December 31, 2021. | This Analyst should be read in conjunction with the audited consolidated financial statements for the year ended December 31, 2021. |  |  |  |  |  |  |  |  |  |  |
| **Note 1:** | **NON-GAAP MEASURES** | **NON-GAAP MEASURES** | **NON-GAAP MEASURES** | **NON-GAAP MEASURES** | **NON-GAAP MEASURES** | **NON-GAAP MEASURES** |  |  |  |  |  |  |  |  |  |  |
|  | The Company presents Operating income, EBIT (Earnings before interest and taxes) and EBITDA (Earnings before interest, taxes and depreciation and amortization) before Other expense (income), net. The Company also presents Adjusted Net Income (Net Income before Other expense (income), net, net of tax and excluding significant income tax valuation allowance adjustments), Adjusted Diluted Earnings per Share, Adjusted EBIT and Adjusted EBIT as a percentage of sales, Return on Invested Capital and Return on Equity. The Company calculates Adjusted Debt as total debt adjusted to include pension and lease liabilities and Adjusted EBITDA as earnings before, interest, net, taxes, depreciation and amortization adjusted to add back interest income, certain pension costs and operating lease expense. The Company presents these financial figures because such measures are widely used by analysts and investors in evaluating the operating performance of the Company. However, such measures do not have any standardized meaning under U.S. generally accepted accounting principles and may not be comparable to the calculation of similar measures by other companies. <br>Other expense (income), net consists of: | The Company presents Operating income, EBIT (Earnings before interest and taxes) and EBITDA (Earnings before interest, taxes and depreciation and amortization) before Other expense (income), net. The Company also presents Adjusted Net Income (Net Income before Other expense (income), net, net of tax and excluding significant income tax valuation allowance adjustments), Adjusted Diluted Earnings per Share, Adjusted EBIT and Adjusted EBIT as a percentage of sales, Return on Invested Capital and Return on Equity. The Company calculates Adjusted Debt as total debt adjusted to include pension and lease liabilities and Adjusted EBITDA as earnings before, interest, net, taxes, depreciation and amortization adjusted to add back interest income, certain pension costs and operating lease expense. The Company presents these financial figures because such measures are widely used by analysts and investors in evaluating the operating performance of the Company. However, such measures do not have any standardized meaning under U.S. generally accepted accounting principles and may not be comparable to the calculation of similar measures by other companies. <br>Other expense (income), net consists of: | The Company presents Operating income, EBIT (Earnings before interest and taxes) and EBITDA (Earnings before interest, taxes and depreciation and amortization) before Other expense (income), net. The Company also presents Adjusted Net Income (Net Income before Other expense (income), net, net of tax and excluding significant income tax valuation allowance adjustments), Adjusted Diluted Earnings per Share, Adjusted EBIT and Adjusted EBIT as a percentage of sales, Return on Invested Capital and Return on Equity. The Company calculates Adjusted Debt as total debt adjusted to include pension and lease liabilities and Adjusted EBITDA as earnings before, interest, net, taxes, depreciation and amortization adjusted to add back interest income, certain pension costs and operating lease expense. The Company presents these financial figures because such measures are widely used by analysts and investors in evaluating the operating performance of the Company. However, such measures do not have any standardized meaning under U.S. generally accepted accounting principles and may not be comparable to the calculation of similar measures by other companies. <br>Other expense (income), net consists of: | The Company presents Operating income, EBIT (Earnings before interest and taxes) and EBITDA (Earnings before interest, taxes and depreciation and amortization) before Other expense (income), net. The Company also presents Adjusted Net Income (Net Income before Other expense (income), net, net of tax and excluding significant income tax valuation allowance adjustments), Adjusted Diluted Earnings per Share, Adjusted EBIT and Adjusted EBIT as a percentage of sales, Return on Invested Capital and Return on Equity. The Company calculates Adjusted Debt as total debt adjusted to include pension and lease liabilities and Adjusted EBITDA as earnings before, interest, net, taxes, depreciation and amortization adjusted to add back interest income, certain pension costs and operating lease expense. The Company presents these financial figures because such measures are widely used by analysts and investors in evaluating the operating performance of the Company. However, such measures do not have any standardized meaning under U.S. generally accepted accounting principles and may not be comparable to the calculation of similar measures by other companies. <br>Other expense (income), net consists of: | The Company presents Operating income, EBIT (Earnings before interest and taxes) and EBITDA (Earnings before interest, taxes and depreciation and amortization) before Other expense (income), net. The Company also presents Adjusted Net Income (Net Income before Other expense (income), net, net of tax and excluding significant income tax valuation allowance adjustments), Adjusted Diluted Earnings per Share, Adjusted EBIT and Adjusted EBIT as a percentage of sales, Return on Invested Capital and Return on Equity. The Company calculates Adjusted Debt as total debt adjusted to include pension and lease liabilities and Adjusted EBITDA as earnings before, interest, net, taxes, depreciation and amortization adjusted to add back interest income, certain pension costs and operating lease expense. The Company presents these financial figures because such measures are widely used by analysts and investors in evaluating the operating performance of the Company. However, such measures do not have any standardized meaning under U.S. generally accepted accounting principles and may not be comparable to the calculation of similar measures by other companies. <br>Other expense (income), net consists of: | The Company presents Operating income, EBIT (Earnings before interest and taxes) and EBITDA (Earnings before interest, taxes and depreciation and amortization) before Other expense (income), net. The Company also presents Adjusted Net Income (Net Income before Other expense (income), net, net of tax and excluding significant income tax valuation allowance adjustments), Adjusted Diluted Earnings per Share, Adjusted EBIT and Adjusted EBIT as a percentage of sales, Return on Invested Capital and Return on Equity. The Company calculates Adjusted Debt as total debt adjusted to include pension and lease liabilities and Adjusted EBITDA as earnings before, interest, net, taxes, depreciation and amortization adjusted to add back interest income, certain pension costs and operating lease expense. The Company presents these financial figures because such measures are widely used by analysts and investors in evaluating the operating performance of the Company. However, such measures do not have any standardized meaning under U.S. generally accepted accounting principles and may not be comparable to the calculation of similar measures by other companies. <br>Other expense (income), net consists of: | The Company presents Operating income, EBIT (Earnings before interest and taxes) and EBITDA (Earnings before interest, taxes and depreciation and amortization) before Other expense (income), net. The Company also presents Adjusted Net Income (Net Income before Other expense (income), net, net of tax and excluding significant income tax valuation allowance adjustments), Adjusted Diluted Earnings per Share, Adjusted EBIT and Adjusted EBIT as a percentage of sales, Return on Invested Capital and Return on Equity. The Company calculates Adjusted Debt as total debt adjusted to include pension and lease liabilities and Adjusted EBITDA as earnings before, interest, net, taxes, depreciation and amortization adjusted to add back interest income, certain pension costs and operating lease expense. The Company presents these financial figures because such measures are widely used by analysts and investors in evaluating the operating performance of the Company. However, such measures do not have any standardized meaning under U.S. generally accepted accounting principles and may not be comparable to the calculation of similar measures by other companies. <br>Other expense (income), net consists of: | The Company presents Operating income, EBIT (Earnings before interest and taxes) and EBITDA (Earnings before interest, taxes and depreciation and amortization) before Other expense (income), net. The Company also presents Adjusted Net Income (Net Income before Other expense (income), net, net of tax and excluding significant income tax valuation allowance adjustments), Adjusted Diluted Earnings per Share, Adjusted EBIT and Adjusted EBIT as a percentage of sales, Return on Invested Capital and Return on Equity. The Company calculates Adjusted Debt as total debt adjusted to include pension and lease liabilities and Adjusted EBITDA as earnings before, interest, net, taxes, depreciation and amortization adjusted to add back interest income, certain pension costs and operating lease expense. The Company presents these financial figures because such measures are widely used by analysts and investors in evaluating the operating performance of the Company. However, such measures do not have any standardized meaning under U.S. generally accepted accounting principles and may not be comparable to the calculation of similar measures by other companies. <br>Other expense (income), net consists of: | The Company presents Operating income, EBIT (Earnings before interest and taxes) and EBITDA (Earnings before interest, taxes and depreciation and amortization) before Other expense (income), net. The Company also presents Adjusted Net Income (Net Income before Other expense (income), net, net of tax and excluding significant income tax valuation allowance adjustments), Adjusted Diluted Earnings per Share, Adjusted EBIT and Adjusted EBIT as a percentage of sales, Return on Invested Capital and Return on Equity. The Company calculates Adjusted Debt as total debt adjusted to include pension and lease liabilities and Adjusted EBITDA as earnings before, interest, net, taxes, depreciation and amortization adjusted to add back interest income, certain pension costs and operating lease expense. The Company presents these financial figures because such measures are widely used by analysts and investors in evaluating the operating performance of the Company. However, such measures do not have any standardized meaning under U.S. generally accepted accounting principles and may not be comparable to the calculation of similar measures by other companies. <br>Other expense (income), net consists of: | The Company presents Operating income, EBIT (Earnings before interest and taxes) and EBITDA (Earnings before interest, taxes and depreciation and amortization) before Other expense (income), net. The Company also presents Adjusted Net Income (Net Income before Other expense (income), net, net of tax and excluding significant income tax valuation allowance adjustments), Adjusted Diluted Earnings per Share, Adjusted EBIT and Adjusted EBIT as a percentage of sales, Return on Invested Capital and Return on Equity. The Company calculates Adjusted Debt as total debt adjusted to include pension and lease liabilities and Adjusted EBITDA as earnings before, interest, net, taxes, depreciation and amortization adjusted to add back interest income, certain pension costs and operating lease expense. The Company presents these financial figures because such measures are widely used by analysts and investors in evaluating the operating performance of the Company. However, such measures do not have any standardized meaning under U.S. generally accepted accounting principles and may not be comparable to the calculation of similar measures by other companies. <br>Other expense (income), net consists of: | The Company presents Operating income, EBIT (Earnings before interest and taxes) and EBITDA (Earnings before interest, taxes and depreciation and amortization) before Other expense (income), net. The Company also presents Adjusted Net Income (Net Income before Other expense (income), net, net of tax and excluding significant income tax valuation allowance adjustments), Adjusted Diluted Earnings per Share, Adjusted EBIT and Adjusted EBIT as a percentage of sales, Return on Invested Capital and Return on Equity. The Company calculates Adjusted Debt as total debt adjusted to include pension and lease liabilities and Adjusted EBITDA as earnings before, interest, net, taxes, depreciation and amortization adjusted to add back interest income, certain pension costs and operating lease expense. The Company presents these financial figures because such measures are widely used by analysts and investors in evaluating the operating performance of the Company. However, such measures do not have any standardized meaning under U.S. generally accepted accounting principles and may not be comparable to the calculation of similar measures by other companies. <br>Other expense (income), net consists of: | The Company presents Operating income, EBIT (Earnings before interest and taxes) and EBITDA (Earnings before interest, taxes and depreciation and amortization) before Other expense (income), net. The Company also presents Adjusted Net Income (Net Income before Other expense (income), net, net of tax and excluding significant income tax valuation allowance adjustments), Adjusted Diluted Earnings per Share, Adjusted EBIT and Adjusted EBIT as a percentage of sales, Return on Invested Capital and Return on Equity. The Company calculates Adjusted Debt as total debt adjusted to include pension and lease liabilities and Adjusted EBITDA as earnings before, interest, net, taxes, depreciation and amortization adjusted to add back interest income, certain pension costs and operating lease expense. The Company presents these financial figures because such measures are widely used by analysts and investors in evaluating the operating performance of the Company. However, such measures do not have any standardized meaning under U.S. generally accepted accounting principles and may not be comparable to the calculation of similar measures by other companies. <br>Other expense (income), net consists of: | The Company presents Operating income, EBIT (Earnings before interest and taxes) and EBITDA (Earnings before interest, taxes and depreciation and amortization) before Other expense (income), net. The Company also presents Adjusted Net Income (Net Income before Other expense (income), net, net of tax and excluding significant income tax valuation allowance adjustments), Adjusted Diluted Earnings per Share, Adjusted EBIT and Adjusted EBIT as a percentage of sales, Return on Invested Capital and Return on Equity. The Company calculates Adjusted Debt as total debt adjusted to include pension and lease liabilities and Adjusted EBITDA as earnings before, interest, net, taxes, depreciation and amortization adjusted to add back interest income, certain pension costs and operating lease expense. The Company presents these financial figures because such measures are widely used by analysts and investors in evaluating the operating performance of the Company. However, such measures do not have any standardized meaning under U.S. generally accepted accounting principles and may not be comparable to the calculation of similar measures by other companies. <br>Other expense (income), net consists of: | The Company presents Operating income, EBIT (Earnings before interest and taxes) and EBITDA (Earnings before interest, taxes and depreciation and amortization) before Other expense (income), net. The Company also presents Adjusted Net Income (Net Income before Other expense (income), net, net of tax and excluding significant income tax valuation allowance adjustments), Adjusted Diluted Earnings per Share, Adjusted EBIT and Adjusted EBIT as a percentage of sales, Return on Invested Capital and Return on Equity. The Company calculates Adjusted Debt as total debt adjusted to include pension and lease liabilities and Adjusted EBITDA as earnings before, interest, net, taxes, depreciation and amortization adjusted to add back interest income, certain pension costs and operating lease expense. The Company presents these financial figures because such measures are widely used by analysts and investors in evaluating the operating performance of the Company. However, such measures do not have any standardized meaning under U.S. generally accepted accounting principles and may not be comparable to the calculation of similar measures by other companies. <br>Other expense (income), net consists of: | The Company presents Operating income, EBIT (Earnings before interest and taxes) and EBITDA (Earnings before interest, taxes and depreciation and amortization) before Other expense (income), net. The Company also presents Adjusted Net Income (Net Income before Other expense (income), net, net of tax and excluding significant income tax valuation allowance adjustments), Adjusted Diluted Earnings per Share, Adjusted EBIT and Adjusted EBIT as a percentage of sales, Return on Invested Capital and Return on Equity. The Company calculates Adjusted Debt as total debt adjusted to include pension and lease liabilities and Adjusted EBITDA as earnings before, interest, net, taxes, depreciation and amortization adjusted to add back interest income, certain pension costs and operating lease expense. The Company presents these financial figures because such measures are widely used by analysts and investors in evaluating the operating performance of the Company. However, such measures do not have any standardized meaning under U.S. generally accepted accounting principles and may not be comparable to the calculation of similar measures by other companies. <br>Other expense (income), net consists of: | The Company presents Operating income, EBIT (Earnings before interest and taxes) and EBITDA (Earnings before interest, taxes and depreciation and amortization) before Other expense (income), net. The Company also presents Adjusted Net Income (Net Income before Other expense (income), net, net of tax and excluding significant income tax valuation allowance adjustments), Adjusted Diluted Earnings per Share, Adjusted EBIT and Adjusted EBIT as a percentage of sales, Return on Invested Capital and Return on Equity. The Company calculates Adjusted Debt as total debt adjusted to include pension and lease liabilities and Adjusted EBITDA as earnings before, interest, net, taxes, depreciation and amortization adjusted to add back interest income, certain pension costs and operating lease expense. The Company presents these financial figures because such measures are widely used by analysts and investors in evaluating the operating performance of the Company. However, such measures do not have any standardized meaning under U.S. generally accepted accounting principles and may not be comparable to the calculation of similar measures by other companies. <br>Other expense (income), net consists of: |
|  |  |  | **2020** | **2020** | **2020** | **2020** | **2021** | **2021** | **2021** | **2021** | **2021** | **2022** | **2022** | **2022** | **2022** | **2022** |
|  |  |  | **<u>2nd Q</u>** | **<u>3rd Q</u>** | **<u>4th Q</u>** | **<u>TOTAL</u>** | **<u>1st Q</u>** | **<u>2nd Q</u>** | **<u>3rd Q</u>** | **<u>4th Q</u>** | **<u>TOTAL</u>** | **<u>1st Q</u>** | **<u>2nd Q</u>** | **<u>3rd Q</u>** | **<u>4th Q</u>** | **<u>TOTAL</u>** |
|  | Net losses (gains) on investments | [a] |  | (21) | (11) | **(32)** | (33) | (38) | 81 | (8) | **2** | 61 | 50 | 9 | 101 | **221** |
|  | Restructuring and impairments | [b] | 168 |  | 101 | **269** | 15 | 44 | 24 | 18 | **101** |  | 376 | 14 | 34 | **424** |
|  | Sale of business | [c] |  |  |  | **-** |  |  | 75 |  | **75** |  |  |  | 58 | **58** |
|  | Impairments and loss on sale of equity-accounted investments | [d] |  | 337 | 10 | **347** |  |  |  |  | **-** |  |  |  |  | **-** |
|  | Merger Agreement Termination Fee | [e] |  |  |  | **-** |  |  |  | (100) | **(100)** |  |  |  |  | **-** |
|  | Gain on business combinations | [f] | - | - | - | **-** | (40) | - | - | - | **(40)** | - | - | - | - | **-** |
|  |  |  | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 168** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 316** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 584** | **(58)** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 180** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (90)** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38** | **61** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 426** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 193** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 703** |
| **[a]** | **<u>Net losses (gains) on investments</u>** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | The Company revalues its public and private equity investments and certain public company warrants every quarter. The gains and losses related to this revaluation, as well as gain and losses on disposition, are recorded in Corporate. | The Company revalues its public and private equity investments and certain public company warrants every quarter. The gains and losses related to this revaluation, as well as gain and losses on disposition, are recorded in Corporate. | The Company revalues its public and private equity investments and certain public company warrants every quarter. The gains and losses related to this revaluation, as well as gain and losses on disposition, are recorded in Corporate. | The Company revalues its public and private equity investments and certain public company warrants every quarter. The gains and losses related to this revaluation, as well as gain and losses on disposition, are recorded in Corporate. | The Company revalues its public and private equity investments and certain public company warrants every quarter. The gains and losses related to this revaluation, as well as gain and losses on disposition, are recorded in Corporate. | The Company revalues its public and private equity investments and certain public company warrants every quarter. The gains and losses related to this revaluation, as well as gain and losses on disposition, are recorded in Corporate. | The Company revalues its public and private equity investments and certain public company warrants every quarter. The gains and losses related to this revaluation, as well as gain and losses on disposition, are recorded in Corporate. | The Company revalues its public and private equity investments and certain public company warrants every quarter. The gains and losses related to this revaluation, as well as gain and losses on disposition, are recorded in Corporate. | The Company revalues its public and private equity investments and certain public company warrants every quarter. The gains and losses related to this revaluation, as well as gain and losses on disposition, are recorded in Corporate. | The Company revalues its public and private equity investments and certain public company warrants every quarter. The gains and losses related to this revaluation, as well as gain and losses on disposition, are recorded in Corporate. | The Company revalues its public and private equity investments and certain public company warrants every quarter. The gains and losses related to this revaluation, as well as gain and losses on disposition, are recorded in Corporate. | The Company revalues its public and private equity investments and certain public company warrants every quarter. The gains and losses related to this revaluation, as well as gain and losses on disposition, are recorded in Corporate. | The Company revalues its public and private equity investments and certain public company warrants every quarter. The gains and losses related to this revaluation, as well as gain and losses on disposition, are recorded in Corporate. | The Company revalues its public and private equity investments and certain public company warrants every quarter. The gains and losses related to this revaluation, as well as gain and losses on disposition, are recorded in Corporate. | The Company revalues its public and private equity investments and certain public company warrants every quarter. The gains and losses related to this revaluation, as well as gain and losses on disposition, are recorded in Corporate. | The Company revalues its public and private equity investments and certain public company warrants every quarter. The gains and losses related to this revaluation, as well as gain and losses on disposition, are recorded in Corporate. |
| **[b]** | **<u>Restructuring and impairments</u>** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | <u>COVID-19 Restructuring and Impairments:</u> |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | In response to the impact that COVID-19 was expected to have on vehicle production volumes over the short to medium term, during the second quarter of 2020, the Company initiated and/or accelerated the timing of restructuring plans to right-size its business. These restructuring actions included plant closures and workforce reductions and resulted in COVID-19 related restructuring and impairment charges of $115 million in Power & Vision, $37 million in Body Exteriors & Structures, and $16 million in Seating, respectively. | In response to the impact that COVID-19 was expected to have on vehicle production volumes over the short to medium term, during the second quarter of 2020, the Company initiated and/or accelerated the timing of restructuring plans to right-size its business. These restructuring actions included plant closures and workforce reductions and resulted in COVID-19 related restructuring and impairment charges of $115 million in Power & Vision, $37 million in Body Exteriors & Structures, and $16 million in Seating, respectively. | In response to the impact that COVID-19 was expected to have on vehicle production volumes over the short to medium term, during the second quarter of 2020, the Company initiated and/or accelerated the timing of restructuring plans to right-size its business. These restructuring actions included plant closures and workforce reductions and resulted in COVID-19 related restructuring and impairment charges of $115 million in Power & Vision, $37 million in Body Exteriors & Structures, and $16 million in Seating, respectively. | In response to the impact that COVID-19 was expected to have on vehicle production volumes over the short to medium term, during the second quarter of 2020, the Company initiated and/or accelerated the timing of restructuring plans to right-size its business. These restructuring actions included plant closures and workforce reductions and resulted in COVID-19 related restructuring and impairment charges of $115 million in Power & Vision, $37 million in Body Exteriors & Structures, and $16 million in Seating, respectively. | In response to the impact that COVID-19 was expected to have on vehicle production volumes over the short to medium term, during the second quarter of 2020, the Company initiated and/or accelerated the timing of restructuring plans to right-size its business. These restructuring actions included plant closures and workforce reductions and resulted in COVID-19 related restructuring and impairment charges of $115 million in Power & Vision, $37 million in Body Exteriors & Structures, and $16 million in Seating, respectively. | In response to the impact that COVID-19 was expected to have on vehicle production volumes over the short to medium term, during the second quarter of 2020, the Company initiated and/or accelerated the timing of restructuring plans to right-size its business. These restructuring actions included plant closures and workforce reductions and resulted in COVID-19 related restructuring and impairment charges of $115 million in Power & Vision, $37 million in Body Exteriors & Structures, and $16 million in Seating, respectively. | In response to the impact that COVID-19 was expected to have on vehicle production volumes over the short to medium term, during the second quarter of 2020, the Company initiated and/or accelerated the timing of restructuring plans to right-size its business. These restructuring actions included plant closures and workforce reductions and resulted in COVID-19 related restructuring and impairment charges of $115 million in Power & Vision, $37 million in Body Exteriors & Structures, and $16 million in Seating, respectively. | In response to the impact that COVID-19 was expected to have on vehicle production volumes over the short to medium term, during the second quarter of 2020, the Company initiated and/or accelerated the timing of restructuring plans to right-size its business. These restructuring actions included plant closures and workforce reductions and resulted in COVID-19 related restructuring and impairment charges of $115 million in Power & Vision, $37 million in Body Exteriors & Structures, and $16 million in Seating, respectively. | In response to the impact that COVID-19 was expected to have on vehicle production volumes over the short to medium term, during the second quarter of 2020, the Company initiated and/or accelerated the timing of restructuring plans to right-size its business. These restructuring actions included plant closures and workforce reductions and resulted in COVID-19 related restructuring and impairment charges of $115 million in Power & Vision, $37 million in Body Exteriors & Structures, and $16 million in Seating, respectively. | In response to the impact that COVID-19 was expected to have on vehicle production volumes over the short to medium term, during the second quarter of 2020, the Company initiated and/or accelerated the timing of restructuring plans to right-size its business. These restructuring actions included plant closures and workforce reductions and resulted in COVID-19 related restructuring and impairment charges of $115 million in Power & Vision, $37 million in Body Exteriors & Structures, and $16 million in Seating, respectively. | In response to the impact that COVID-19 was expected to have on vehicle production volumes over the short to medium term, during the second quarter of 2020, the Company initiated and/or accelerated the timing of restructuring plans to right-size its business. These restructuring actions included plant closures and workforce reductions and resulted in COVID-19 related restructuring and impairment charges of $115 million in Power & Vision, $37 million in Body Exteriors & Structures, and $16 million in Seating, respectively. | In response to the impact that COVID-19 was expected to have on vehicle production volumes over the short to medium term, during the second quarter of 2020, the Company initiated and/or accelerated the timing of restructuring plans to right-size its business. These restructuring actions included plant closures and workforce reductions and resulted in COVID-19 related restructuring and impairment charges of $115 million in Power & Vision, $37 million in Body Exteriors & Structures, and $16 million in Seating, respectively. | In response to the impact that COVID-19 was expected to have on vehicle production volumes over the short to medium term, during the second quarter of 2020, the Company initiated and/or accelerated the timing of restructuring plans to right-size its business. These restructuring actions included plant closures and workforce reductions and resulted in COVID-19 related restructuring and impairment charges of $115 million in Power & Vision, $37 million in Body Exteriors & Structures, and $16 million in Seating, respectively. | In response to the impact that COVID-19 was expected to have on vehicle production volumes over the short to medium term, during the second quarter of 2020, the Company initiated and/or accelerated the timing of restructuring plans to right-size its business. These restructuring actions included plant closures and workforce reductions and resulted in COVID-19 related restructuring and impairment charges of $115 million in Power & Vision, $37 million in Body Exteriors & Structures, and $16 million in Seating, respectively. | In response to the impact that COVID-19 was expected to have on vehicle production volumes over the short to medium term, during the second quarter of 2020, the Company initiated and/or accelerated the timing of restructuring plans to right-size its business. These restructuring actions included plant closures and workforce reductions and resulted in COVID-19 related restructuring and impairment charges of $115 million in Power & Vision, $37 million in Body Exteriors & Structures, and $16 million in Seating, respectively. | In response to the impact that COVID-19 was expected to have on vehicle production volumes over the short to medium term, during the second quarter of 2020, the Company initiated and/or accelerated the timing of restructuring plans to right-size its business. These restructuring actions included plant closures and workforce reductions and resulted in COVID-19 related restructuring and impairment charges of $115 million in Power & Vision, $37 million in Body Exteriors & Structures, and $16 million in Seating, respectively. |
|  | <u>Impairments related to operations in Russia:</u> |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | The Company's operations in Russia remain substantially idled and production is not expected to resume before 2024. In accordance with U.S. GAAP, as a result of the expected lack of future cashflows and the continuing uncertainties connected with the Russian economy, the Company recorded a $376 million impairment charge related to its investment in Russia. This included net asset impairments of $173 million and a $203 million reserve against the related foreign currency translation losses that are included in accumulated other comprehensive loss. The net asset impairments consisted of $163 million and $10 million in our Body Exteriors & Structures segment and our Seating segment, respectively. | The Company's operations in Russia remain substantially idled and production is not expected to resume before 2024. In accordance with U.S. GAAP, as a result of the expected lack of future cashflows and the continuing uncertainties connected with the Russian economy, the Company recorded a $376 million impairment charge related to its investment in Russia. This included net asset impairments of $173 million and a $203 million reserve against the related foreign currency translation losses that are included in accumulated other comprehensive loss. The net asset impairments consisted of $163 million and $10 million in our Body Exteriors & Structures segment and our Seating segment, respectively. | The Company's operations in Russia remain substantially idled and production is not expected to resume before 2024. In accordance with U.S. GAAP, as a result of the expected lack of future cashflows and the continuing uncertainties connected with the Russian economy, the Company recorded a $376 million impairment charge related to its investment in Russia. This included net asset impairments of $173 million and a $203 million reserve against the related foreign currency translation losses that are included in accumulated other comprehensive loss. The net asset impairments consisted of $163 million and $10 million in our Body Exteriors & Structures segment and our Seating segment, respectively. | The Company's operations in Russia remain substantially idled and production is not expected to resume before 2024. In accordance with U.S. GAAP, as a result of the expected lack of future cashflows and the continuing uncertainties connected with the Russian economy, the Company recorded a $376 million impairment charge related to its investment in Russia. This included net asset impairments of $173 million and a $203 million reserve against the related foreign currency translation losses that are included in accumulated other comprehensive loss. The net asset impairments consisted of $163 million and $10 million in our Body Exteriors & Structures segment and our Seating segment, respectively. | The Company's operations in Russia remain substantially idled and production is not expected to resume before 2024. In accordance with U.S. GAAP, as a result of the expected lack of future cashflows and the continuing uncertainties connected with the Russian economy, the Company recorded a $376 million impairment charge related to its investment in Russia. This included net asset impairments of $173 million and a $203 million reserve against the related foreign currency translation losses that are included in accumulated other comprehensive loss. The net asset impairments consisted of $163 million and $10 million in our Body Exteriors & Structures segment and our Seating segment, respectively. | The Company's operations in Russia remain substantially idled and production is not expected to resume before 2024. In accordance with U.S. GAAP, as a result of the expected lack of future cashflows and the continuing uncertainties connected with the Russian economy, the Company recorded a $376 million impairment charge related to its investment in Russia. This included net asset impairments of $173 million and a $203 million reserve against the related foreign currency translation losses that are included in accumulated other comprehensive loss. The net asset impairments consisted of $163 million and $10 million in our Body Exteriors & Structures segment and our Seating segment, respectively. | The Company's operations in Russia remain substantially idled and production is not expected to resume before 2024. In accordance with U.S. GAAP, as a result of the expected lack of future cashflows and the continuing uncertainties connected with the Russian economy, the Company recorded a $376 million impairment charge related to its investment in Russia. This included net asset impairments of $173 million and a $203 million reserve against the related foreign currency translation losses that are included in accumulated other comprehensive loss. The net asset impairments consisted of $163 million and $10 million in our Body Exteriors & Structures segment and our Seating segment, respectively. | The Company's operations in Russia remain substantially idled and production is not expected to resume before 2024. In accordance with U.S. GAAP, as a result of the expected lack of future cashflows and the continuing uncertainties connected with the Russian economy, the Company recorded a $376 million impairment charge related to its investment in Russia. This included net asset impairments of $173 million and a $203 million reserve against the related foreign currency translation losses that are included in accumulated other comprehensive loss. The net asset impairments consisted of $163 million and $10 million in our Body Exteriors & Structures segment and our Seating segment, respectively. | The Company's operations in Russia remain substantially idled and production is not expected to resume before 2024. In accordance with U.S. GAAP, as a result of the expected lack of future cashflows and the continuing uncertainties connected with the Russian economy, the Company recorded a $376 million impairment charge related to its investment in Russia. This included net asset impairments of $173 million and a $203 million reserve against the related foreign currency translation losses that are included in accumulated other comprehensive loss. The net asset impairments consisted of $163 million and $10 million in our Body Exteriors & Structures segment and our Seating segment, respectively. | The Company's operations in Russia remain substantially idled and production is not expected to resume before 2024. In accordance with U.S. GAAP, as a result of the expected lack of future cashflows and the continuing uncertainties connected with the Russian economy, the Company recorded a $376 million impairment charge related to its investment in Russia. This included net asset impairments of $173 million and a $203 million reserve against the related foreign currency translation losses that are included in accumulated other comprehensive loss. The net asset impairments consisted of $163 million and $10 million in our Body Exteriors & Structures segment and our Seating segment, respectively. | The Company's operations in Russia remain substantially idled and production is not expected to resume before 2024. In accordance with U.S. GAAP, as a result of the expected lack of future cashflows and the continuing uncertainties connected with the Russian economy, the Company recorded a $376 million impairment charge related to its investment in Russia. This included net asset impairments of $173 million and a $203 million reserve against the related foreign currency translation losses that are included in accumulated other comprehensive loss. The net asset impairments consisted of $163 million and $10 million in our Body Exteriors & Structures segment and our Seating segment, respectively. | The Company's operations in Russia remain substantially idled and production is not expected to resume before 2024. In accordance with U.S. GAAP, as a result of the expected lack of future cashflows and the continuing uncertainties connected with the Russian economy, the Company recorded a $376 million impairment charge related to its investment in Russia. This included net asset impairments of $173 million and a $203 million reserve against the related foreign currency translation losses that are included in accumulated other comprehensive loss. The net asset impairments consisted of $163 million and $10 million in our Body Exteriors & Structures segment and our Seating segment, respectively. | The Company's operations in Russia remain substantially idled and production is not expected to resume before 2024. In accordance with U.S. GAAP, as a result of the expected lack of future cashflows and the continuing uncertainties connected with the Russian economy, the Company recorded a $376 million impairment charge related to its investment in Russia. This included net asset impairments of $173 million and a $203 million reserve against the related foreign currency translation losses that are included in accumulated other comprehensive loss. The net asset impairments consisted of $163 million and $10 million in our Body Exteriors & Structures segment and our Seating segment, respectively. | The Company's operations in Russia remain substantially idled and production is not expected to resume before 2024. In accordance with U.S. GAAP, as a result of the expected lack of future cashflows and the continuing uncertainties connected with the Russian economy, the Company recorded a $376 million impairment charge related to its investment in Russia. This included net asset impairments of $173 million and a $203 million reserve against the related foreign currency translation losses that are included in accumulated other comprehensive loss. The net asset impairments consisted of $163 million and $10 million in our Body Exteriors & Structures segment and our Seating segment, respectively. | The Company's operations in Russia remain substantially idled and production is not expected to resume before 2024. In accordance with U.S. GAAP, as a result of the expected lack of future cashflows and the continuing uncertainties connected with the Russian economy, the Company recorded a $376 million impairment charge related to its investment in Russia. This included net asset impairments of $173 million and a $203 million reserve against the related foreign currency translation losses that are included in accumulated other comprehensive loss. The net asset impairments consisted of $163 million and $10 million in our Body Exteriors & Structures segment and our Seating segment, respectively. | The Company's operations in Russia remain substantially idled and production is not expected to resume before 2024. In accordance with U.S. GAAP, as a result of the expected lack of future cashflows and the continuing uncertainties connected with the Russian economy, the Company recorded a $376 million impairment charge related to its investment in Russia. This included net asset impairments of $173 million and a $203 million reserve against the related foreign currency translation losses that are included in accumulated other comprehensive loss. The net asset impairments consisted of $163 million and $10 million in our Body Exteriors & Structures segment and our Seating segment, respectively. |
|  | <u>Other Impairments:</u> |  | **2020** | **2020** | **2020** | **2020** | **2021** | **2021** | **2021** | **2021** | **2021** | **2022** | **2022** | **2022** | **2022** | **2022** |
|  |  |  | **<u>2nd Q</u>** | **<u>3rd Q</u>** | **<u>4th Q</u>** | **<u>TOTAL</u>** | **<u>1st Q</u>** | **<u>2nd Q</u>** | **<u>3rd Q</u>** | **<u>4th Q</u>** | **<u>TOTAL</u>** | **<u>1st Q</u>** | **<u>2nd Q</u>** | **<u>3rd Q</u>** | **<u>4th Q</u>** | **<u>TOTAL</u>** |
|  | Body Exteriors & Structures |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65 | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12 | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22** |
|  | Power & Vision |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4** |
|  | Seating Systems |  |  |  | 15 | **15** |  |  | 4 |  | **4** |  |  |  |  | **-** |
|  |  |  | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80** | **-** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -** | **12** | **-** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12** | **26** |
|  | <u>Other Restructuring:</u> |  | **2020** | **2020** | **2020** | **2020** | **2021** | **2021** | **2021** | **2021** | **2021** | **2022** | **2022** | **2022** | **2022** | **2022** |
|  |  |  | **<u>2nd Q</u>** | **<u>3rd Q</u>** | **<u>4th Q</u>** | **<u>TOTAL</u>** | **<u>1st Q</u>** | **<u>2nd Q</u>** | **<u>3rd Q</u>** | **<u>4th Q</u>** | **<u>TOTAL</u>** | **<u>1st Q</u>** | **<u>2nd Q</u>** | **<u>3rd Q</u>** | **<u>4th Q</u>** | **<u>TOTAL</u>** |
|  | Power & Vision |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4 | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22 | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22** |
|  | Body Exteriors & Structures |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21 | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -** |
|  | Seating Systems |  |  |  |  | **-** |  |  |  | 14 | **14** |  |  |  |  | **-** |
|  |  |  | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21** | **15** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18** | **89** | **-** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22** | **22** |
| **[c]** | **<u>Sale of business</u>** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | During the fourth quarter of 2022, the Company entered into an agreement to sell a European Power & Vision operation in early 2023. Under the terms of the arrangement, the Company expects to provide the buyer with $42 million of funding, resulting in a loss of $58 million. <br>During the third quarter of 2021, the Company sold three Body Exteriors & Structures operations in Germany. Under the terms of the arrangement, the Company provided the buyer with $41 million of funding, resulting in a loss on disposal of $75 million. | During the fourth quarter of 2022, the Company entered into an agreement to sell a European Power & Vision operation in early 2023. Under the terms of the arrangement, the Company expects to provide the buyer with $42 million of funding, resulting in a loss of $58 million. <br>During the third quarter of 2021, the Company sold three Body Exteriors & Structures operations in Germany. Under the terms of the arrangement, the Company provided the buyer with $41 million of funding, resulting in a loss on disposal of $75 million. | During the fourth quarter of 2022, the Company entered into an agreement to sell a European Power & Vision operation in early 2023. Under the terms of the arrangement, the Company expects to provide the buyer with $42 million of funding, resulting in a loss of $58 million. <br>During the third quarter of 2021, the Company sold three Body Exteriors & Structures operations in Germany. Under the terms of the arrangement, the Company provided the buyer with $41 million of funding, resulting in a loss on disposal of $75 million. | During the fourth quarter of 2022, the Company entered into an agreement to sell a European Power & Vision operation in early 2023. Under the terms of the arrangement, the Company expects to provide the buyer with $42 million of funding, resulting in a loss of $58 million. <br>During the third quarter of 2021, the Company sold three Body Exteriors & Structures operations in Germany. Under the terms of the arrangement, the Company provided the buyer with $41 million of funding, resulting in a loss on disposal of $75 million. | During the fourth quarter of 2022, the Company entered into an agreement to sell a European Power & Vision operation in early 2023. Under the terms of the arrangement, the Company expects to provide the buyer with $42 million of funding, resulting in a loss of $58 million. <br>During the third quarter of 2021, the Company sold three Body Exteriors & Structures operations in Germany. Under the terms of the arrangement, the Company provided the buyer with $41 million of funding, resulting in a loss on disposal of $75 million. | During the fourth quarter of 2022, the Company entered into an agreement to sell a European Power & Vision operation in early 2023. Under the terms of the arrangement, the Company expects to provide the buyer with $42 million of funding, resulting in a loss of $58 million. <br>During the third quarter of 2021, the Company sold three Body Exteriors & Structures operations in Germany. Under the terms of the arrangement, the Company provided the buyer with $41 million of funding, resulting in a loss on disposal of $75 million. | During the fourth quarter of 2022, the Company entered into an agreement to sell a European Power & Vision operation in early 2023. Under the terms of the arrangement, the Company expects to provide the buyer with $42 million of funding, resulting in a loss of $58 million. <br>During the third quarter of 2021, the Company sold three Body Exteriors & Structures operations in Germany. Under the terms of the arrangement, the Company provided the buyer with $41 million of funding, resulting in a loss on disposal of $75 million. | During the fourth quarter of 2022, the Company entered into an agreement to sell a European Power & Vision operation in early 2023. Under the terms of the arrangement, the Company expects to provide the buyer with $42 million of funding, resulting in a loss of $58 million. <br>During the third quarter of 2021, the Company sold three Body Exteriors & Structures operations in Germany. Under the terms of the arrangement, the Company provided the buyer with $41 million of funding, resulting in a loss on disposal of $75 million. | During the fourth quarter of 2022, the Company entered into an agreement to sell a European Power & Vision operation in early 2023. Under the terms of the arrangement, the Company expects to provide the buyer with $42 million of funding, resulting in a loss of $58 million. <br>During the third quarter of 2021, the Company sold three Body Exteriors & Structures operations in Germany. Under the terms of the arrangement, the Company provided the buyer with $41 million of funding, resulting in a loss on disposal of $75 million. | During the fourth quarter of 2022, the Company entered into an agreement to sell a European Power & Vision operation in early 2023. Under the terms of the arrangement, the Company expects to provide the buyer with $42 million of funding, resulting in a loss of $58 million. <br>During the third quarter of 2021, the Company sold three Body Exteriors & Structures operations in Germany. Under the terms of the arrangement, the Company provided the buyer with $41 million of funding, resulting in a loss on disposal of $75 million. | During the fourth quarter of 2022, the Company entered into an agreement to sell a European Power & Vision operation in early 2023. Under the terms of the arrangement, the Company expects to provide the buyer with $42 million of funding, resulting in a loss of $58 million. <br>During the third quarter of 2021, the Company sold three Body Exteriors & Structures operations in Germany. Under the terms of the arrangement, the Company provided the buyer with $41 million of funding, resulting in a loss on disposal of $75 million. | During the fourth quarter of 2022, the Company entered into an agreement to sell a European Power & Vision operation in early 2023. Under the terms of the arrangement, the Company expects to provide the buyer with $42 million of funding, resulting in a loss of $58 million. <br>During the third quarter of 2021, the Company sold three Body Exteriors & Structures operations in Germany. Under the terms of the arrangement, the Company provided the buyer with $41 million of funding, resulting in a loss on disposal of $75 million. | During the fourth quarter of 2022, the Company entered into an agreement to sell a European Power & Vision operation in early 2023. Under the terms of the arrangement, the Company expects to provide the buyer with $42 million of funding, resulting in a loss of $58 million. <br>During the third quarter of 2021, the Company sold three Body Exteriors & Structures operations in Germany. Under the terms of the arrangement, the Company provided the buyer with $41 million of funding, resulting in a loss on disposal of $75 million. | During the fourth quarter of 2022, the Company entered into an agreement to sell a European Power & Vision operation in early 2023. Under the terms of the arrangement, the Company expects to provide the buyer with $42 million of funding, resulting in a loss of $58 million. <br>During the third quarter of 2021, the Company sold three Body Exteriors & Structures operations in Germany. Under the terms of the arrangement, the Company provided the buyer with $41 million of funding, resulting in a loss on disposal of $75 million. | During the fourth quarter of 2022, the Company entered into an agreement to sell a European Power & Vision operation in early 2023. Under the terms of the arrangement, the Company expects to provide the buyer with $42 million of funding, resulting in a loss of $58 million. <br>During the third quarter of 2021, the Company sold three Body Exteriors & Structures operations in Germany. Under the terms of the arrangement, the Company provided the buyer with $41 million of funding, resulting in a loss on disposal of $75 million. | During the fourth quarter of 2022, the Company entered into an agreement to sell a European Power & Vision operation in early 2023. Under the terms of the arrangement, the Company expects to provide the buyer with $42 million of funding, resulting in a loss of $58 million. <br>During the third quarter of 2021, the Company sold three Body Exteriors & Structures operations in Germany. Under the terms of the arrangement, the Company provided the buyer with $41 million of funding, resulting in a loss on disposal of $75 million. |
| **[d]** | **<u>Impairments and loss on sale of equity-accounted investments</u>** | **<u>Impairments and loss on sale of equity-accounted investments</u>** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | In Power & Vision, during the third quarters of 2020, the Company recorded impairment charges of $337 million on equity accounted investments, and in the fourth quarter of 2020, recorded a $10 million loss on the sale of its 50% interest in Dongfeng Getrag Transmission Co. Ltd. | In Power & Vision, during the third quarters of 2020, the Company recorded impairment charges of $337 million on equity accounted investments, and in the fourth quarter of 2020, recorded a $10 million loss on the sale of its 50% interest in Dongfeng Getrag Transmission Co. Ltd. | In Power & Vision, during the third quarters of 2020, the Company recorded impairment charges of $337 million on equity accounted investments, and in the fourth quarter of 2020, recorded a $10 million loss on the sale of its 50% interest in Dongfeng Getrag Transmission Co. Ltd. | In Power & Vision, during the third quarters of 2020, the Company recorded impairment charges of $337 million on equity accounted investments, and in the fourth quarter of 2020, recorded a $10 million loss on the sale of its 50% interest in Dongfeng Getrag Transmission Co. Ltd. | In Power & Vision, during the third quarters of 2020, the Company recorded impairment charges of $337 million on equity accounted investments, and in the fourth quarter of 2020, recorded a $10 million loss on the sale of its 50% interest in Dongfeng Getrag Transmission Co. Ltd. | In Power & Vision, during the third quarters of 2020, the Company recorded impairment charges of $337 million on equity accounted investments, and in the fourth quarter of 2020, recorded a $10 million loss on the sale of its 50% interest in Dongfeng Getrag Transmission Co. Ltd. | In Power & Vision, during the third quarters of 2020, the Company recorded impairment charges of $337 million on equity accounted investments, and in the fourth quarter of 2020, recorded a $10 million loss on the sale of its 50% interest in Dongfeng Getrag Transmission Co. Ltd. | In Power & Vision, during the third quarters of 2020, the Company recorded impairment charges of $337 million on equity accounted investments, and in the fourth quarter of 2020, recorded a $10 million loss on the sale of its 50% interest in Dongfeng Getrag Transmission Co. Ltd. | In Power & Vision, during the third quarters of 2020, the Company recorded impairment charges of $337 million on equity accounted investments, and in the fourth quarter of 2020, recorded a $10 million loss on the sale of its 50% interest in Dongfeng Getrag Transmission Co. Ltd. | In Power & Vision, during the third quarters of 2020, the Company recorded impairment charges of $337 million on equity accounted investments, and in the fourth quarter of 2020, recorded a $10 million loss on the sale of its 50% interest in Dongfeng Getrag Transmission Co. Ltd. | In Power & Vision, during the third quarters of 2020, the Company recorded impairment charges of $337 million on equity accounted investments, and in the fourth quarter of 2020, recorded a $10 million loss on the sale of its 50% interest in Dongfeng Getrag Transmission Co. Ltd. | In Power & Vision, during the third quarters of 2020, the Company recorded impairment charges of $337 million on equity accounted investments, and in the fourth quarter of 2020, recorded a $10 million loss on the sale of its 50% interest in Dongfeng Getrag Transmission Co. Ltd. | In Power & Vision, during the third quarters of 2020, the Company recorded impairment charges of $337 million on equity accounted investments, and in the fourth quarter of 2020, recorded a $10 million loss on the sale of its 50% interest in Dongfeng Getrag Transmission Co. Ltd. | In Power & Vision, during the third quarters of 2020, the Company recorded impairment charges of $337 million on equity accounted investments, and in the fourth quarter of 2020, recorded a $10 million loss on the sale of its 50% interest in Dongfeng Getrag Transmission Co. Ltd. | In Power & Vision, during the third quarters of 2020, the Company recorded impairment charges of $337 million on equity accounted investments, and in the fourth quarter of 2020, recorded a $10 million loss on the sale of its 50% interest in Dongfeng Getrag Transmission Co. Ltd. | In Power & Vision, during the third quarters of 2020, the Company recorded impairment charges of $337 million on equity accounted investments, and in the fourth quarter of 2020, recorded a $10 million loss on the sale of its 50% interest in Dongfeng Getrag Transmission Co. Ltd. |
| **[e]** | **<u>Merger Agreement Termination Fee</u>** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | In the fourth quarter of 2021, Veoneer, Inc. ("Veoneer") terminated its merger agreement with Magna. In connection with the termination of the merger agreement, Veoneer paid the Company a termination fee which, net of the Company's associated transaction costs, amounted to $100 million. | In the fourth quarter of 2021, Veoneer, Inc. ("Veoneer") terminated its merger agreement with Magna. In connection with the termination of the merger agreement, Veoneer paid the Company a termination fee which, net of the Company's associated transaction costs, amounted to $100 million. | In the fourth quarter of 2021, Veoneer, Inc. ("Veoneer") terminated its merger agreement with Magna. In connection with the termination of the merger agreement, Veoneer paid the Company a termination fee which, net of the Company's associated transaction costs, amounted to $100 million. | In the fourth quarter of 2021, Veoneer, Inc. ("Veoneer") terminated its merger agreement with Magna. In connection with the termination of the merger agreement, Veoneer paid the Company a termination fee which, net of the Company's associated transaction costs, amounted to $100 million. | In the fourth quarter of 2021, Veoneer, Inc. ("Veoneer") terminated its merger agreement with Magna. In connection with the termination of the merger agreement, Veoneer paid the Company a termination fee which, net of the Company's associated transaction costs, amounted to $100 million. | In the fourth quarter of 2021, Veoneer, Inc. ("Veoneer") terminated its merger agreement with Magna. In connection with the termination of the merger agreement, Veoneer paid the Company a termination fee which, net of the Company's associated transaction costs, amounted to $100 million. | In the fourth quarter of 2021, Veoneer, Inc. ("Veoneer") terminated its merger agreement with Magna. In connection with the termination of the merger agreement, Veoneer paid the Company a termination fee which, net of the Company's associated transaction costs, amounted to $100 million. | In the fourth quarter of 2021, Veoneer, Inc. ("Veoneer") terminated its merger agreement with Magna. In connection with the termination of the merger agreement, Veoneer paid the Company a termination fee which, net of the Company's associated transaction costs, amounted to $100 million. | In the fourth quarter of 2021, Veoneer, Inc. ("Veoneer") terminated its merger agreement with Magna. In connection with the termination of the merger agreement, Veoneer paid the Company a termination fee which, net of the Company's associated transaction costs, amounted to $100 million. | In the fourth quarter of 2021, Veoneer, Inc. ("Veoneer") terminated its merger agreement with Magna. In connection with the termination of the merger agreement, Veoneer paid the Company a termination fee which, net of the Company's associated transaction costs, amounted to $100 million. | In the fourth quarter of 2021, Veoneer, Inc. ("Veoneer") terminated its merger agreement with Magna. In connection with the termination of the merger agreement, Veoneer paid the Company a termination fee which, net of the Company's associated transaction costs, amounted to $100 million. | In the fourth quarter of 2021, Veoneer, Inc. ("Veoneer") terminated its merger agreement with Magna. In connection with the termination of the merger agreement, Veoneer paid the Company a termination fee which, net of the Company's associated transaction costs, amounted to $100 million. | In the fourth quarter of 2021, Veoneer, Inc. ("Veoneer") terminated its merger agreement with Magna. In connection with the termination of the merger agreement, Veoneer paid the Company a termination fee which, net of the Company's associated transaction costs, amounted to $100 million. | In the fourth quarter of 2021, Veoneer, Inc. ("Veoneer") terminated its merger agreement with Magna. In connection with the termination of the merger agreement, Veoneer paid the Company a termination fee which, net of the Company's associated transaction costs, amounted to $100 million. | In the fourth quarter of 2021, Veoneer, Inc. ("Veoneer") terminated its merger agreement with Magna. In connection with the termination of the merger agreement, Veoneer paid the Company a termination fee which, net of the Company's associated transaction costs, amounted to $100 million. | In the fourth quarter of 2021, Veoneer, Inc. ("Veoneer") terminated its merger agreement with Magna. In connection with the termination of the merger agreement, Veoneer paid the Company a termination fee which, net of the Company's associated transaction costs, amounted to $100 million. |
| **[f]** | **<u>Gain on business combinations</u>** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | In Seating Systems, during the first quarter of 2021, the Company recognized a $22 million gain on the on the change in basis of accounting for its previously held equity method investments. In Power & Vision, substantially all of the assets of the Company's European joint venture with Ford Motor Company, Getrag Ford Transmission GmbH, were distributed to either Ford or the Company, which resulted in the Company recording a gain of $18 million. | In Seating Systems, during the first quarter of 2021, the Company recognized a $22 million gain on the on the change in basis of accounting for its previously held equity method investments. In Power & Vision, substantially all of the assets of the Company's European joint venture with Ford Motor Company, Getrag Ford Transmission GmbH, were distributed to either Ford or the Company, which resulted in the Company recording a gain of $18 million. | In Seating Systems, during the first quarter of 2021, the Company recognized a $22 million gain on the on the change in basis of accounting for its previously held equity method investments. In Power & Vision, substantially all of the assets of the Company's European joint venture with Ford Motor Company, Getrag Ford Transmission GmbH, were distributed to either Ford or the Company, which resulted in the Company recording a gain of $18 million. | In Seating Systems, during the first quarter of 2021, the Company recognized a $22 million gain on the on the change in basis of accounting for its previously held equity method investments. In Power & Vision, substantially all of the assets of the Company's European joint venture with Ford Motor Company, Getrag Ford Transmission GmbH, were distributed to either Ford or the Company, which resulted in the Company recording a gain of $18 million. | In Seating Systems, during the first quarter of 2021, the Company recognized a $22 million gain on the on the change in basis of accounting for its previously held equity method investments. In Power & Vision, substantially all of the assets of the Company's European joint venture with Ford Motor Company, Getrag Ford Transmission GmbH, were distributed to either Ford or the Company, which resulted in the Company recording a gain of $18 million. | In Seating Systems, during the first quarter of 2021, the Company recognized a $22 million gain on the on the change in basis of accounting for its previously held equity method investments. In Power & Vision, substantially all of the assets of the Company's European joint venture with Ford Motor Company, Getrag Ford Transmission GmbH, were distributed to either Ford or the Company, which resulted in the Company recording a gain of $18 million. | In Seating Systems, during the first quarter of 2021, the Company recognized a $22 million gain on the on the change in basis of accounting for its previously held equity method investments. In Power & Vision, substantially all of the assets of the Company's European joint venture with Ford Motor Company, Getrag Ford Transmission GmbH, were distributed to either Ford or the Company, which resulted in the Company recording a gain of $18 million. | In Seating Systems, during the first quarter of 2021, the Company recognized a $22 million gain on the on the change in basis of accounting for its previously held equity method investments. In Power & Vision, substantially all of the assets of the Company's European joint venture with Ford Motor Company, Getrag Ford Transmission GmbH, were distributed to either Ford or the Company, which resulted in the Company recording a gain of $18 million. | In Seating Systems, during the first quarter of 2021, the Company recognized a $22 million gain on the on the change in basis of accounting for its previously held equity method investments. In Power & Vision, substantially all of the assets of the Company's European joint venture with Ford Motor Company, Getrag Ford Transmission GmbH, were distributed to either Ford or the Company, which resulted in the Company recording a gain of $18 million. | In Seating Systems, during the first quarter of 2021, the Company recognized a $22 million gain on the on the change in basis of accounting for its previously held equity method investments. In Power & Vision, substantially all of the assets of the Company's European joint venture with Ford Motor Company, Getrag Ford Transmission GmbH, were distributed to either Ford or the Company, which resulted in the Company recording a gain of $18 million. | In Seating Systems, during the first quarter of 2021, the Company recognized a $22 million gain on the on the change in basis of accounting for its previously held equity method investments. In Power & Vision, substantially all of the assets of the Company's European joint venture with Ford Motor Company, Getrag Ford Transmission GmbH, were distributed to either Ford or the Company, which resulted in the Company recording a gain of $18 million. | In Seating Systems, during the first quarter of 2021, the Company recognized a $22 million gain on the on the change in basis of accounting for its previously held equity method investments. In Power & Vision, substantially all of the assets of the Company's European joint venture with Ford Motor Company, Getrag Ford Transmission GmbH, were distributed to either Ford or the Company, which resulted in the Company recording a gain of $18 million. | In Seating Systems, during the first quarter of 2021, the Company recognized a $22 million gain on the on the change in basis of accounting for its previously held equity method investments. In Power & Vision, substantially all of the assets of the Company's European joint venture with Ford Motor Company, Getrag Ford Transmission GmbH, were distributed to either Ford or the Company, which resulted in the Company recording a gain of $18 million. | In Seating Systems, during the first quarter of 2021, the Company recognized a $22 million gain on the on the change in basis of accounting for its previously held equity method investments. In Power & Vision, substantially all of the assets of the Company's European joint venture with Ford Motor Company, Getrag Ford Transmission GmbH, were distributed to either Ford or the Company, which resulted in the Company recording a gain of $18 million. | In Seating Systems, during the first quarter of 2021, the Company recognized a $22 million gain on the on the change in basis of accounting for its previously held equity method investments. In Power & Vision, substantially all of the assets of the Company's European joint venture with Ford Motor Company, Getrag Ford Transmission GmbH, were distributed to either Ford or the Company, which resulted in the Company recording a gain of $18 million. | In Seating Systems, during the first quarter of 2021, the Company recognized a $22 million gain on the on the change in basis of accounting for its previously held equity method investments. In Power & Vision, substantially all of the assets of the Company's European joint venture with Ford Motor Company, Getrag Ford Transmission GmbH, were distributed to either Ford or the Company, which resulted in the Company recording a gain of $18 million. |

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| **The following table reconciles Net income (loss) attributable to Magna International Inc. to Adjusted net income (loss) attributable to Magna International Inc.:** | **The following table reconciles Net income (loss) attributable to Magna International Inc. to Adjusted net income (loss) attributable to Magna International Inc.:** | **The following table reconciles Net income (loss) attributable to Magna International Inc. to Adjusted net income (loss) attributable to Magna International Inc.:** | **The following table reconciles Net income (loss) attributable to Magna International Inc. to Adjusted net income (loss) attributable to Magna International Inc.:** | **The following table reconciles Net income (loss) attributable to Magna International Inc. to Adjusted net income (loss) attributable to Magna International Inc.:** | **The following table reconciles Net income (loss) attributable to Magna International Inc. to Adjusted net income (loss) attributable to Magna International Inc.:** | **The following table reconciles Net income (loss) attributable to Magna International Inc. to Adjusted net income (loss) attributable to Magna International Inc.:** | **The following table reconciles Net income (loss) attributable to Magna International Inc. to Adjusted net income (loss) attributable to Magna International Inc.:** | **The following table reconciles Net income (loss) attributable to Magna International Inc. to Adjusted net income (loss) attributable to Magna International Inc.:** | **The following table reconciles Net income (loss) attributable to Magna International Inc. to Adjusted net income (loss) attributable to Magna International Inc.:** | **The following table reconciles Net income (loss) attributable to Magna International Inc. to Adjusted net income (loss) attributable to Magna International Inc.:** | **The following table reconciles Net income (loss) attributable to Magna International Inc. to Adjusted net income (loss) attributable to Magna International Inc.:** | **The following table reconciles Net income (loss) attributable to Magna International Inc. to Adjusted net income (loss) attributable to Magna International Inc.:** | **The following table reconciles Net income (loss) attributable to Magna International Inc. to Adjusted net income (loss) attributable to Magna International Inc.:** | **The following table reconciles Net income (loss) attributable to Magna International Inc. to Adjusted net income (loss) attributable to Magna International Inc.:** | **The following table reconciles Net income (loss) attributable to Magna International Inc. to Adjusted net income (loss) attributable to Magna International Inc.:** | **The following table reconciles Net income (loss) attributable to Magna International Inc. to Adjusted net income (loss) attributable to Magna International Inc.:** |
|  |  | **2020** | **2020** | **2020** | **2020** | **2020** | **2021** | **2021** | **2021** | **2021** | **2021** | **2022** | **2022** | **2022** | **2022** | **2022** |
|  |  | **<u>1st Q</u>** | **<u>2nd Q</u>** | **<u>3rd Q</u>** | **<u>4th Q</u>** | **<u>TOTAL</u>** | **<u>1st Q</u>** | **<u>2nd Q</u>** | **<u>3rd Q</u>** | **<u>4th Q</u>** | **<u>TOTAL</u>** | **<u>1st Q</u>** | **<u>2nd Q</u>** | **<u>3rd Q</u>** | **<u>4th Q</u>** | **<u>TOTAL</u>** |
| **Net income (loss) attributable to Magna International Inc.** |  | **261** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (647)** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 405** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 738** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 757** | **615** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 424** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 464** | **&nbsp;&nbsp;&nbsp;&nbsp; 1514** | **364** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (156)** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 289** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 592** |
| **Exclude:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Restructuring and impairments |  |  | 136 |  | 101 | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 237** | 15 | 31 | 20 | 17 | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83** |  | 361 | 12 | 34 | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 407** |
| Net (gains) losses on investments |  |  |  | (20) | (7) | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (27)** | (24) | (29) | 64 | (2) | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9** | 48 | 38 | 7 | 75 | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 168** |
| Net (gains) losses on the sale of business |  |  |  |  |  | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -** |  |  | 75 |  | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75** |  |  |  | 57 | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57** |
| Adjustments to Deferred Tax Valuation Allowance | [i] |  |  |  |  | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -** |  |  |  | (13) | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (13)** | (29) |  |  |  | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (29)** |
| Impairments and loss on sale of equity-accounted investments | [ii] |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 200 | 19 | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 219** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - |  | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - |  | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -** |
| Merger Agreement Termination Fee |  |  |  |  |  | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -** |  |  |  | (75) | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (75)** |  |  |  |  | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -** |
| Gain on business combinations |  |  |  |  |  | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -** | (40) |  |  |  | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (40)** |  |  |  |  | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -** |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - |
| **Adjusted net income (loss) attributable to Magna International Inc.** | **Adjusted net income (loss) attributable to Magna International Inc.** | **261** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (511)** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 585** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 851** | **&nbsp;&nbsp;&nbsp;&nbsp; 1186** | **566** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 426** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 170** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 391** | **&nbsp;&nbsp;&nbsp;&nbsp; 1553** | **383** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 243** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 308** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 261** | **&nbsp;&nbsp;&nbsp;&nbsp; 1195** |
| **Diluted earnings (loss) per share** |  | **$&nbsp;&nbsp;&nbsp;&nbsp; 0.86** | **$&nbsp;&nbsp;&nbsp;&nbsp; (2.17)** | **$&nbsp;&nbsp;&nbsp;&nbsp; 1.35** | **$&nbsp;&nbsp;&nbsp;&nbsp; 2.45** | **$&nbsp;&nbsp;&nbsp;&nbsp; 2.52** | **$&nbsp;&nbsp;&nbsp;&nbsp; 2.03** | **$&nbsp;&nbsp;&nbsp;&nbsp; 1.40** | **$&nbsp;&nbsp;&nbsp;&nbsp; 0.04** | **$&nbsp;&nbsp;&nbsp;&nbsp; 1.54** | **$&nbsp;&nbsp;&nbsp;&nbsp; 5.00** | **$&nbsp;&nbsp;&nbsp;&nbsp; 1.22** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.54)** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.00** | **$&nbsp;&nbsp;&nbsp;&nbsp; 0.33** | **$&nbsp;&nbsp;&nbsp;&nbsp; 2.03** |
| **Exclude:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Restructuring and impairments |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.34 | **0.79** | 0.05 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.06 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.06 | **0.27** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.04 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.12 | **1.40** |
| Net (gains) losses on investments |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.07) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.02) | **(0.09)** | (0.08) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.10) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.21 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.01) | **0.03** | 0.16 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.13 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.03 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.26 | **0.58** |
| Net (gains) losses on the sale of business |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | **-** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | **0.25** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.20 | **0.19** |
| Adjustments to Deferred Tax Valuation Allowance | [i] |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | **-** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.04) | **(0.04)** | (0.10) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | **(0.10)** |
| Impairments and loss on sale of equity-accounted investments | [ii] |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.67 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.06 | **0.73** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | **-** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | **-** |
| Merger Agreement Termination Fee |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | **-** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.25) | **(0.25)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | **-** |
| Gain on business combinations |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | **-** | (0.14) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | **(0.13)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | **-** |
| **Adjusted diluted earnings (loss) per share** |  | **$&nbsp;&nbsp;&nbsp;&nbsp; 0.86** | **$&nbsp;&nbsp;&nbsp;&nbsp; (1.71)** | **$&nbsp;&nbsp;&nbsp;&nbsp; 1.95** | **$&nbsp;&nbsp;&nbsp;&nbsp; 2.84** | **$&nbsp;&nbsp;&nbsp;&nbsp; 3.95** | **$&nbsp;&nbsp;&nbsp;&nbsp; 1.86** | **$&nbsp;&nbsp;&nbsp;&nbsp; 1.40** | **$&nbsp;&nbsp;&nbsp;&nbsp; 0.56** | **$&nbsp;&nbsp;&nbsp;&nbsp; 1.30** | **$&nbsp;&nbsp;&nbsp;&nbsp; 5.13** | **$&nbsp;&nbsp;&nbsp;&nbsp; 1.28** | **$&nbsp;&nbsp;&nbsp;&nbsp; 0.83** | **$&nbsp;&nbsp;&nbsp;&nbsp; 1.07** | **$&nbsp;&nbsp;&nbsp;&nbsp; 0.91** | **$&nbsp;&nbsp;&nbsp;&nbsp; 4.10** |
| <u>[i] Adjustments to Deferred Tax Valuation Allowance</u> |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In the fourth quarter of 2021 and first quarter of 2022, the Company recorded adjustments to the valuation allowance against its deferred tax assets in certain European countries and North America. The net effect of these adjustments was a reduction in income tax expense of $13 million and $29 million, respectively. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In the fourth quarter of 2021 and first quarter of 2022, the Company recorded adjustments to the valuation allowance against its deferred tax assets in certain European countries and North America. The net effect of these adjustments was a reduction in income tax expense of $13 million and $29 million, respectively. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In the fourth quarter of 2021 and first quarter of 2022, the Company recorded adjustments to the valuation allowance against its deferred tax assets in certain European countries and North America. The net effect of these adjustments was a reduction in income tax expense of $13 million and $29 million, respectively. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In the fourth quarter of 2021 and first quarter of 2022, the Company recorded adjustments to the valuation allowance against its deferred tax assets in certain European countries and North America. The net effect of these adjustments was a reduction in income tax expense of $13 million and $29 million, respectively. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In the fourth quarter of 2021 and first quarter of 2022, the Company recorded adjustments to the valuation allowance against its deferred tax assets in certain European countries and North America. The net effect of these adjustments was a reduction in income tax expense of $13 million and $29 million, respectively. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In the fourth quarter of 2021 and first quarter of 2022, the Company recorded adjustments to the valuation allowance against its deferred tax assets in certain European countries and North America. The net effect of these adjustments was a reduction in income tax expense of $13 million and $29 million, respectively. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In the fourth quarter of 2021 and first quarter of 2022, the Company recorded adjustments to the valuation allowance against its deferred tax assets in certain European countries and North America. The net effect of these adjustments was a reduction in income tax expense of $13 million and $29 million, respectively. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In the fourth quarter of 2021 and first quarter of 2022, the Company recorded adjustments to the valuation allowance against its deferred tax assets in certain European countries and North America. The net effect of these adjustments was a reduction in income tax expense of $13 million and $29 million, respectively. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In the fourth quarter of 2021 and first quarter of 2022, the Company recorded adjustments to the valuation allowance against its deferred tax assets in certain European countries and North America. The net effect of these adjustments was a reduction in income tax expense of $13 million and $29 million, respectively. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In the fourth quarter of 2021 and first quarter of 2022, the Company recorded adjustments to the valuation allowance against its deferred tax assets in certain European countries and North America. The net effect of these adjustments was a reduction in income tax expense of $13 million and $29 million, respectively. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In the fourth quarter of 2021 and first quarter of 2022, the Company recorded adjustments to the valuation allowance against its deferred tax assets in certain European countries and North America. The net effect of these adjustments was a reduction in income tax expense of $13 million and $29 million, respectively. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In the fourth quarter of 2021 and first quarter of 2022, the Company recorded adjustments to the valuation allowance against its deferred tax assets in certain European countries and North America. The net effect of these adjustments was a reduction in income tax expense of $13 million and $29 million, respectively. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In the fourth quarter of 2021 and first quarter of 2022, the Company recorded adjustments to the valuation allowance against its deferred tax assets in certain European countries and North America. The net effect of these adjustments was a reduction in income tax expense of $13 million and $29 million, respectively. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In the fourth quarter of 2021 and first quarter of 2022, the Company recorded adjustments to the valuation allowance against its deferred tax assets in certain European countries and North America. The net effect of these adjustments was a reduction in income tax expense of $13 million and $29 million, respectively. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In the fourth quarter of 2021 and first quarter of 2022, the Company recorded adjustments to the valuation allowance against its deferred tax assets in certain European countries and North America. The net effect of these adjustments was a reduction in income tax expense of $13 million and $29 million, respectively. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In the fourth quarter of 2021 and first quarter of 2022, the Company recorded adjustments to the valuation allowance against its deferred tax assets in certain European countries and North America. The net effect of these adjustments was a reduction in income tax expense of $13 million and $29 million, respectively. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In the fourth quarter of 2021 and first quarter of 2022, the Company recorded adjustments to the valuation allowance against its deferred tax assets in certain European countries and North America. The net effect of these adjustments was a reduction in income tax expense of $13 million and $29 million, respectively. |
| <u>[ii] Impairment charges</u> |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Impairment charges relating to the Company's equity accounted investment for 2020 include $75 million attributable to non-controlling interest. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Impairment charges relating to the Company's equity accounted investment for 2020 include $75 million attributable to non-controlling interest. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Impairment charges relating to the Company's equity accounted investment for 2020 include $75 million attributable to non-controlling interest. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Impairment charges relating to the Company's equity accounted investment for 2020 include $75 million attributable to non-controlling interest. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Impairment charges relating to the Company's equity accounted investment for 2020 include $75 million attributable to non-controlling interest. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Impairment charges relating to the Company's equity accounted investment for 2020 include $75 million attributable to non-controlling interest. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Impairment charges relating to the Company's equity accounted investment for 2020 include $75 million attributable to non-controlling interest. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Impairment charges relating to the Company's equity accounted investment for 2020 include $75 million attributable to non-controlling interest. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Impairment charges relating to the Company's equity accounted investment for 2020 include $75 million attributable to non-controlling interest. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Impairment charges relating to the Company's equity accounted investment for 2020 include $75 million attributable to non-controlling interest. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Impairment charges relating to the Company's equity accounted investment for 2020 include $75 million attributable to non-controlling interest. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Impairment charges relating to the Company's equity accounted investment for 2020 include $75 million attributable to non-controlling interest. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Impairment charges relating to the Company's equity accounted investment for 2020 include $75 million attributable to non-controlling interest. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Impairment charges relating to the Company's equity accounted investment for 2020 include $75 million attributable to non-controlling interest. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Impairment charges relating to the Company's equity accounted investment for 2020 include $75 million attributable to non-controlling interest. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Impairment charges relating to the Company's equity accounted investment for 2020 include $75 million attributable to non-controlling interest. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Impairment charges relating to the Company's equity accounted investment for 2020 include $75 million attributable to non-controlling interest. |

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|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Note 2:** | **SEGMENTED INFORMATION** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  | **2020** | **2020** | **2020** | **2020** | **2020** | **2021** | **2021** | **2021** | **2021** | **2021** | **2022** | **2022** | **2022** | **2022** | **2022** |
|  |  | **<u>1st Q</u>** | **<u>2nd Q</u>** | **<u>3rd Q</u>** | **<u>4th Q</u>** | **<u>TOTAL</u>** | **<u>1st Q</u>** | **<u>2nd Q</u>** | **<u>3rd Q</u>** | **<u>4th Q</u>** | **<u>TOTAL</u>** | **<u>1st Q</u>** | **<u>2nd Q</u>** | **<u>3rd Q</u>** | **<u>4th Q</u>** | **<u>TOTAL</u>** |
|  | **Body Exteriors & Structures** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Sales | 3676 | 1623 | 3858 | 4393 | **13550** | 4025 | 3647 | 3185 | 3620 | **14477** | 4077 | 3947 | 3976 | 4004 | **16004** |
|  | Adjusted EBIT | 199 | (315) | 390 | 543 | **817** | 327 | 227 | 98 | 168 | **820** | 229 | 191 | 225 | 198 | **843** |
|  | Adjusted EBIT as a percentage of sales | 5.4% | -19.4% | 10.1% | 12.4% | **6.0%** | 8.1% | 6.2% | 3.1% | 4.6% | **5.7%** | 5.6% | 4.8% | 5.7% | 4.9% | **5.3%** |
|  | **Power & Vision** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Sales | 2523 | 1298 | 2722 | 3179 | **9722** | 3156 | 2881 | 2501 | 2804 | **11342** | 3046 | 2888 | 2911 | 3016 | **11861** |
|  | Adjusted EBIT | 135 | (226) | 227 | 359 | **495** | 297 | 203 | 67 | 171 | **738** | 154 | 91 | 117 | 109 | **471** |
|  | Adjusted EBIT as a percentage of sales | 5.4% | -17.4% | 8.3% | 11.3% | **5.1%** | 9.4% | 7.0% | 2.7% | 6.1% | **6.5%** | 5.1% | 3.2% | 4.0% | 3.6% | **4.0%** |
|  | **Seating Systems** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Sales | 1261 | 524 | 1280 | 1390 | **4455** | 1303 | 1166 | 1123 | 1299 | **4891** | 1376 | 1253 | 1295 | 1345 | **5269** |
|  | Adjusted EBIT | 40 | (84) | 66 | 85 | **107** | 55 | 26 | 22 | 49 | **152** | 49 | 2 | 35 | 13 | **99** |
|  | Adjusted EBIT as a percentage of sales | 3.2% | -16.0% | 5.2% | 6.1% | **2.4%** | 4.2% | 2.2% | 2.0% | 3.8% | **3.1%** | 3.6% | 0.2% | 2.7% | 1.0% | **1.9%** |
|  | **Complete Vehicles** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Sales | 1321 | 933 | 1402 | 1759 | **5415** | 1850 | 1490 | 1255 | 1511 | **6106** | 1275 | 1403 | 1213 | 1330 | **5221** |
|  | Adjusted EBIT | 50 | 44 | 70 | 110 | **274** | 80 | 79 | 30 | 98 | **287** | 50 | 63 | 65 | 57 | **235** |
|  | Adjusted EBIT as a percentage of sales | 3.8% | 4.7% | 5.0% | 6.3% | **5.1%** | 4.3% | 5.3% | 2.4% | 6.5% | **4.7%** | 3.9% | 4.5% | 5.4% | 4.3% | **4.5%** |
|  | **Corporate and other** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Intercompany fees | (124) | (85) | (133) | (153) | **(495)** | (155) | (150) | (145) | (124) | **(574)** | (132) | (129) | (127) | (127) | **(515)** |
|  | Adjusted EBIT | (21) | (19) | 25 | (2) | **(17)** | 11 | 22 | 12 | 22 | **67** | 25 | 11 | (1) | (21) | **14** |
|  | Sales | 8657 | 4293 | 9129 | 10568 | **32647** | 10179 | 9034 | 7919 | 9110 | **36242** | 9642 | 9362 | 9268 | 9568 | **37840** |
|  | Adjusted EBIT | 403 | (600) | 778 | 1095 | **1676** | 770 | 557 | 229 | 508 | **2064** | 507 | 358 | 441 | 356 | **1662** |
|  | Adjusted EBIT as a percentage of sales | 4.7% | -14.0% | 8.5% | 10.4% | **5.1%** | 7.6% | 6.2% | 2.9% | 5.6% | **5.7%** | 5.3% | 3.8% | 4.8% | 3.7% | **4.4%** |
| **Note 3:** | **CASH, CASH EQUIVALENTS AND RESTRICTED CASH EQUIVALENTS** | **CASH, CASH EQUIVALENTS AND RESTRICTED CASH EQUIVALENTS** | **CASH, CASH EQUIVALENTS AND RESTRICTED CASH EQUIVALENTS** | **CASH, CASH EQUIVALENTS AND RESTRICTED CASH EQUIVALENTS** | **CASH, CASH EQUIVALENTS AND RESTRICTED CASH EQUIVALENTS** |  |  |  |  |  |  |  |  |  |  |  |
|  | A reconciliation of Cash and cash equivalents and Restricted cash equivalents (included in prepaid expenses) to Total cash, cash equivalents and restricted cash equivalents is as follows: | A reconciliation of Cash and cash equivalents and Restricted cash equivalents (included in prepaid expenses) to Total cash, cash equivalents and restricted cash equivalents is as follows: | A reconciliation of Cash and cash equivalents and Restricted cash equivalents (included in prepaid expenses) to Total cash, cash equivalents and restricted cash equivalents is as follows: | A reconciliation of Cash and cash equivalents and Restricted cash equivalents (included in prepaid expenses) to Total cash, cash equivalents and restricted cash equivalents is as follows: | A reconciliation of Cash and cash equivalents and Restricted cash equivalents (included in prepaid expenses) to Total cash, cash equivalents and restricted cash equivalents is as follows: | A reconciliation of Cash and cash equivalents and Restricted cash equivalents (included in prepaid expenses) to Total cash, cash equivalents and restricted cash equivalents is as follows: | A reconciliation of Cash and cash equivalents and Restricted cash equivalents (included in prepaid expenses) to Total cash, cash equivalents and restricted cash equivalents is as follows: | A reconciliation of Cash and cash equivalents and Restricted cash equivalents (included in prepaid expenses) to Total cash, cash equivalents and restricted cash equivalents is as follows: | A reconciliation of Cash and cash equivalents and Restricted cash equivalents (included in prepaid expenses) to Total cash, cash equivalents and restricted cash equivalents is as follows: | A reconciliation of Cash and cash equivalents and Restricted cash equivalents (included in prepaid expenses) to Total cash, cash equivalents and restricted cash equivalents is as follows: | A reconciliation of Cash and cash equivalents and Restricted cash equivalents (included in prepaid expenses) to Total cash, cash equivalents and restricted cash equivalents is as follows: | A reconciliation of Cash and cash equivalents and Restricted cash equivalents (included in prepaid expenses) to Total cash, cash equivalents and restricted cash equivalents is as follows: | A reconciliation of Cash and cash equivalents and Restricted cash equivalents (included in prepaid expenses) to Total cash, cash equivalents and restricted cash equivalents is as follows: | A reconciliation of Cash and cash equivalents and Restricted cash equivalents (included in prepaid expenses) to Total cash, cash equivalents and restricted cash equivalents is as follows: | A reconciliation of Cash and cash equivalents and Restricted cash equivalents (included in prepaid expenses) to Total cash, cash equivalents and restricted cash equivalents is as follows: | A reconciliation of Cash and cash equivalents and Restricted cash equivalents (included in prepaid expenses) to Total cash, cash equivalents and restricted cash equivalents is as follows: |
|  |  | **2020** | **2020** | **2020** | **2020** |  | **2021** | **2021** | **2021** | **2021** |  | **2022** | **2022** | **2022** | **2022** |  |
|  |  | **<u>1st Q</u>** | **<u>2nd Q</u>** | **<u>3rd Q</u>** | **<u>4th Q</u>** |  | **<u>1st Q</u>** | **<u>2nd Q</u>** | **<u>3rd Q</u>** | **<u>4th Q</u>** |  | **<u>1st Q</u>** | **<u>2nd Q</u>** | **<u>3rd Q</u>** | **<u>4th Q</u>** |  |
|  | Cash and cash equivalents | (1146) | (533) | (1498) | (3268) |  | (3464) | (3426) | (2748) | (2948) |  | (1996) | (1664) | (1102) | &nbsp;&nbsp;&nbsp;&nbsp; (1234) |  |
|  | Restricted cash equivalents included in prepaid expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (113) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (115) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (120) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (106) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - |  |
|  | Total cash, cash equivalents and restricted cash equivalents | (1259) | (648) | (1618) | (3374) |  | (3464) | (3426) | (2748) | (2948) |  | (1996) | (1664) | (1102) | &nbsp;&nbsp;&nbsp;&nbsp; (1234) |  |

---

Page 6 of 6

## Exhibit 99.3

**EXHIBIT 99.3**

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Q4 & Full Year 2022 + 2023 Outlook February 10, 2023

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Louis Tonelli Vice President, Investor Relations Q4 & FULL YEAR 2022 + 2023 OUTLOOK 2

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Forward Looking Statements Q4 & FULL YEAR 2022 + 2023 OUTLOOK 3 Certain statements in this website constitute "forward - looking information" or "forward - looking statements" (collectively, "forward - looking statements") . Any such forward - looking statements are intended to provide information about management's current expectations and plans and may not be appropriate for other purposes . Forward - looking statements may include financial and other projections, as well as statements regarding our future plans, strategic objectives or economic performance, or the assumptions underlying any of the foregoing, and other statements that are not recitations of historical fact . We use words such as "may", "would", "could", "should", "will", "likely", "expect", "anticipate", "believe", "intend", "plan", "aim", "forecast", "outlook", "project", "estimate", "target" and similar expressions suggesting future outcomes or events to identify forward - looking statements . The following table identifies the material forward - looking statements contained in this document, together with the material potential risks that we currently believe could cause actual results to differ materially from such forward - looking statements . Readers should also consider all of the risk factors which follow below the table : Material Forward - Looking Statement Material Potential Risks Related to Applicable Forward - Looking Statement Light Vehicle Production  Light vehicle sales levels  Supply disruptions  Production allocation decisions by OEMs Total (Consolidated) Sales Segment Sales  The impact of elevated interest rates and availability of credit on consumer confidence and, in turn, vehicle sales and production  Potential supply disruptions  Impact of the Russian invasion of Ukraine on global economic growth and industry production volumes  Impact of deteriorating vehicle affordability on consumer demand and, in turn, vehicle sales and production  Concentration of sales with six customers  Shifts in market shares among vehicles or vehicle segments  Shifts in consumer "take rates" for products we sell Unconsolidated Sales  Same risks as Total (Consolidated) Sales and Segment Sales above .  Risks related to conducting business through joint ventures Adjusted EBIT Margin Segment Adjusted EBIT Margin Net Income Attributable to Magna  Same risks as for Total (Consolidated) Sales/Segment Sales and Unconsolidated Sales above  Successful execution of critical program launches, including complete vehicle manufacturing of the Fisker Ocean SUV  Operational underperformance  Production inefficiencies in our operations due to volatile vehicle production allocation decisions by OEMs  Higher costs incurred to mitigate the risk of supply disruptions  Inflationary pressures  Our ability to secure cost recoveries from customers and/or otherwise offset higher input prices  Price concessions  Commodity cost volatility  Scrap steel price volatility  Higher labour costs  Tax risks Equity Income  Same risks as Adjusted EBIT Margin, Segment Adjusted EBIT Margin and Net Income Attributable to Magna  Risks related to conducting business through joint ventures Free Cash Flow  Same risks as for Total (Consolidated) Sales/Segment Sales, Unconsolidated Sales and Adjusted EBIT Margin/Net Income Attributable to Magna above

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Forward Looking Statements (cont.) Q4 & FULL YEAR 2022 + 2023 OUTLOOK 4 Forward - looking statements are based on information currently available to us and are based on assumptions and analyses made by us in light of our experience and our perception of historical trends, current conditions and expected future developments, as well as other factors we believe are appropriate in the circumstances . While we believe we have a reasonable basis for making any such forward - looking statements, they are not a guarantee of future performance or outcomes . In addition to the factors in the table above, whether actual results and developments conform to our expectations and predictions is subject to a number of risks, assumptions and uncertainties, many of which are beyond our control, and the effects of which can be difficult to predict, including, without limitation : Risks Related to the Automotive Industry  economic cyclicality;  regional production volume declines, including as a result of deteriorating vehicle affordability;  intense competition;  potential restrictions on free trade;  trade disputes/tariffs; Customer and Supplier Related Risks  concentration of sales with six customers;  risks related to conducting business with newer OEMs with limited operating history, product maturity and warranty experience;  OEM consolidation and cooperation;  shifts in market shares among vehicles or vehicle segments;  shifts in consumer "take rates" for products we sell;  dependence on outsourcing;  quarterly sales fluctuations;  potential loss of any material purchase orders;  a deterioration in the financial condition of our supply base; Manufacturing / Operational Risks  product and new facility launch risks, including the successful launch of critical programs such as the Fisker Ocean SUV;  operational underperformance;  supply disruptions, including with respect to semiconductor chips;  impact of volatile OEM vehicle production allocation decisions on the efficiency of our operations;  risks arising from Russia's invasion of Ukraine and compliance with the sanctions regime imposed in response; Manufacturing / Operational Risks (cont.)  restructuring costs;  impairment charges;  labour disruptions;  risks related to COVID - 19;  climate change risks;  attraction/retention of skilled labour ; IT Security/Cybersecurity Risk  IT/Cybersecurity breach;  Product Cybersecurity breach; Pricing Risks  inflationary pressures;  our ability to secure customer cost recoveries from customers or otherwise offset higher input prices;  pricing risks following time of quote and start of production;  price concessions;  commodity cost volatility;  declines in scrap steel/aluminum prices; Warranty / Recall Risks  costs related to repair or replacement of defective products, including due to a recall;  warranty or recall costs that exceed warranty provision or insurance coverage limits;  product liability claims; Acquisition Risks  competition for strategic acquisition targets;  inherent merger and acquisition risks;  acquisition integration risks; Other Business Risks  risks related to conducting business through joint ventures;  our ability to consistently develop and commercialize innovative products or processes;  our changing business risk profile as a result of increased investment in electrification and autonomous driving, including: higher R&D and engineering costs, and challenges in quoting for profitable returns on products for which we may not have significant quoting experience;  risks of conducting business in foreign markets;  fluctuations in relative currency values;  tax risks;  reduced financial flexibility as a result of an economic shock;  changes in credit ratings assigned to us; Legal, Regulatory and Other Risks  antitrust risk;  legal claims and/or regulatory actions against us; and  changes in laws and regulations, including those related to vehicle emissions or made as a result of the COVID - 19 pandemic. In evaluating forward - looking statements or forward - looking information, we caution readers not to place undue reliance on any f orward - looking statement. Additionally, readers should specifically consider the various factors which could cause actual events or results to differ materially from those indicated by such forward - looking statements, including the risks, assumptions and uncertainties above which are:  discussed under the "Industry Trends and Risks" heading of our Management's Discussion and Analysis; and  set out in our Annual Information Form filed with securities commissions in Canada, our annual report on Form 40 - F filed with th e United States Securities and Exchange Commission, and subsequent filings. Readers should also consider discussion of our risk mitigation activities with respect to certain risk factors, which can be als o found in our Annual Information Form.

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Reminders All amounts are in U.S. Dollars Today's discussion excludes the impact of other expense (income), net ("Unusual Items") "Organic", in the context of sales movements, means "excluding the impact of foreign exchange, acquisitions and divestitures" Q4 & FULL YEAR 2022 + 2023 OUTLOOK 5

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6 Q4 & FULL YEAR 2022 + 2023 OUTLOOK Agenda 2022 Highlights and Q4 2022 Operating Results 2023 Outlook Financial Strategy

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Swamy Kotagiri Chief Executive Officer Q4 & FULL YEAR 2022 + 2023 OUTLOOK 7

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2022 Highlights Q4 & FULL YEAR 2022 + 2023 OUTLOOK 8

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Consolidated Sales $9.6B Q4 2022 Results Q4 & FULL YEAR 2022 + 2023 OUTLOOK 9 Adjusted EBIT Margin % 3.7% Adjusted Diluted EPS $0.91 Free Cash Flow 2 $340M 1 W eighted Growth over Market (GoM) compares organic sales growth (%) to vehicle production change (%) after applying Magna geographic sales weighting, excludi ng Complete Vehicles, to regional production 2 Free Cash Flow (FCF) is Cash from Operating Activities plus proceeds from normal course dispositions of fixed and other asset s m inus capital spending minus investment in other assets 3 Versus Q4 2021 WEIGHTED GoM 1 +8% $37.8B FY 2022 +5% 3 4.4% FY 2022 - 190 bps 3 $4.10 FY 2022 - 30% 3 $83M FY 2022 Results Adversely Impacted by Internal and External Factors - $389M 3

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2022 Accomplishments Q4 & FULL YEAR 2022 + 2023 OUTLOOK 10 • Managed through continued supply chain challenges while minimizing disruption to OEM production • Launched 66 Factory of the Future projects globally • Received 107 customer recognition awards Excellence Operational

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2022 Accomplishments (cont.) Q4 & FULL YEAR 2022 + 2023 OUTLOOK 11 • Developed Operational Management Accelerator Program • 6th Straight Year Named to Forbes "World's Best Employers" • Named one of Fortune's "World's Most Admired Companies" Focus People

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2022 Accomplishments (cont.) Q4 & FULL YEAR 2022 + 2023 OUTLOOK 12 Growth Sales 1 Weighted Growth over Market (GoM) compares organic sales growth (%) to vehicle production change (%) after applying Magna geographic sales weighting, excludi ng Complete Vehicles, to regional production 2 Excluding Complete Vehicles • Continued weighted sales Growth over Mark et 1 o f 7% ̶ Achieved above - market sales growth 1 across all key regions • Record business awards 2 of ~$11B (average annual sales) • Signed agreement to acquire Veoneer Active Safety

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2022 Accomplishments (cont.) Q4 & FULL YEAR 2022 + 2023 OUTLOOK 13 • New business in core innovation areas: ̶ Battery enclosures ̶ E - Drives ̶ Driver Monitoring ̶ Smart Access Power Doors • Winners of PACE award and PACE Pilot Innovation to Watch • Increased R&D investment in mobility megatrends areas Innovation Driving

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Pat McCann Executive Vice President & Chief Financial Officer Q4 & FULL YEAR 2022 + 2023 OUTLOOK 14

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2022 Financial Results Q4 & FULL YEAR 2022 + 2023 OUTLOOK 15 Adjusted EBIT Margin (%) 5.7% 4.4% 0.0% 1.0% 2.0% 3.0% 4.0% 5.0% 6.0% 7.0% 2021 2022 Consolidated Sales ($Billions) $36.2 $37.8 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.1 $0.0 $5.0 $10.0 $15.0 $20.0 $25.0 $30.0 $35.0 $40.0 2021 2022 Adjusted EPS ($) $5.13 $4.10 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.1 $0.00 $1.00 $2.00 $3.00 $4.00 $5.00 $6.00 2021 2022 1 Weighted Growth over Market (GoM) compares organic sales growth (%) to vehicle production change (%) after applying Magna geographic sales weighting, excluding Complete Vehicles, to regional production Weighted GoM 1 7% Net Input Cost Headwind ~160 bps

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Q4'22 vs Q4'21 Prod'n Global 5% Magna Weighted 5% Q4 2022 Financial Results Q4 & FULL YEAR 2022 + 2023 OUTLOOK 16 Adjusted EBIT Margin (%) Consolidated Sales ($Billions) $9.1 $9.6 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.1 $0.0 $2.0 $4.0 $6.0 $8.0 $10.0 $12.0 Q4'21 Q4'22 Adjusted EPS ($) $1.30 $0.91 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.1 $0.00 $0.20 $0.40 $0.60 $0.80 $1.00 $1.20 $1.40 $1.60 Q4'21 Q4'22 1 Weighted Growth over Market (GoM) compares organic sales growth (%) to vehicle production change (%) after applying Magna geographic sales weighting, excluding Complete Vehicles, to regional production 5.6% 3.7% 0.0% 1.0% 2.0% 3.0% 4.0% 5.0% 6.0% 7.0% Q4'21 Q4'22 Weighted GoM 1 8%

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Q4 2022 Financial Results Q4 & FULL YEAR 2022 + 2023 OUTLOOK 17 Adjusted EBIT Margin % • Higher engineering spend for electrification & autonomy (-) • Increased net warranty costs ~35 bps (-) • Higher launch costs (-) • Provisions against accounts receivable + other balances ~35 bps (-) • Operational inefficiencies at a facility in Europe ~25 bps (-) • Impact of foreign currency translation (+) • Higher commercial resolutions ~25 bps (+) • Contribution on increased sales (+) Adjusted EBIT & Margin ($Millions) - 30% $508 $356 5.6% 3.7% 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0 100 200 300 400 500 600 Q4'21 Q4'22

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Q4 2022 Cash Flow and Investment Activities Q4 & FULL YEAR 2022 + 2023 OUTLOOK 18 Free Cash Flow 1 ($Millions) OTHER USES OF CASH Net Repayment of Debt 22 Business Combinations 3 Repurchase of Common Shares 5 Dividends ($0.45/share) 126 Cash from Operations Before Changes in Operating Assets & Liabilities 517 Changes in Operating Assets & Liabilities 739 Cash from Operations 1,256 Fixed Asset Additions (750) Increase in Investments, Other Assets and Intangible Assets (186) Proceeds from Dispositions 20 Free Cash Flow 1 340 1 Free Cash Flow (FCF) is Cash from Operating Activities plus proceeds from normal course dispositions of fixed and other asset s minus investment in other assets ($Millions) $729 $340 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0 100 200 300 400 500 600 700 800 Q4'21 Q4'22

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Annualized Dividend 1 Q4 & FULL YEAR 2022 + 2023 OUTLOOK 19 Increased Q4 Dividend for 13 th Straight Year 1 Based on Q4 run rate 0.50 0.55 0.64 0.76 0.88 1.00 1.12 1.32 1.46 1.60 1.72 1.80 1.84 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.00 0.20 0.40 0.60 0.80 1.00 1.20 1.40 1.60 1.80 2.00 Q4'10 Q4'11 Q4'12 Q4'13 Q4'14 Q4'15 Q4'16 Q4'17 Q4'18 Q4'19 Q4'20 Q4'21 Q4'22 ($ per share) 11% CAGR

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2023 Outlook\* \*excludes pending acquisition of Veoneer Active Safety Q4 & FULL YEAR 2022 + 2023 OUTLOOK 20

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Q4 & FULL YEAR 2022 + 2023 OUTLOOK 21 Advancing Our Accelerate Deployment of Capital towards High - Growth Areas Drive Operational Excellence Unlock New Business Models and Markets Go - Forward Strategy

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Q4 & FULL YEAR 2022 + 2023 OUTLOOK 22 Overview of 2023 Outlook Tailwinds Headwinds • Launching content on exciting new programs • Higher expected global light vehicle production • Increased business in megatrend areas ̶ Increased investments to fund future growth • Continued production volatility, primarily due to semiconductor chip supply constraints • Incremental net input costs ̶ Labour , energy ̶ Scrap steel • Macro Challenges ̶ Inflation ̶ Higher interest rates ̶ Impact on auto demand

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Sales Growth Overview of 2023 Outlook – Financial Metrics Q4 & FULL YEAR 2022 + 2023 OUTLOOK 23 Margin Expansion Investing for Growth Improving Free Cash Flow 2 1 Weighted Growth over Market (GoM) compares organic sales growth (%) to vehicle production change (%) after applying Magna geographic sales weighting, excludi ng Complete Vehicles, to regional production 2 Free Cash Flow (FCF) is Cash from Operating Activities plus proceeds from normal course dispositions of fixed and other asset s m inus capital spending minus investment in other assets Continued weighted sales growth over market 1 through outlook period 6 - 8% organic growth on average per year As sales and margins expand + capital spending for growth declines $1.8B+ in 2025 Annual engineering to average ~$900M in megatrend areas Capital spending includes significant investments for megatrend sales growth Contribution on higher sales and operational improvements key factors 230 bps or more of EBIT margin improvement 2022 to 2025

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Financial Outlook – Key Assumptions Q4 & FULL YEAR 2022 + 2023 OUTLOOK 24 Automotive Light Vehicle Production (millions of units) 2022 2023 2025 North America 14.3 14.9 16.5 Europe 15.6 16.2 17.5 China 26.9 26.2 29.0 U.S. Foreign Exchange Rates 2022 2023 2025 Cdn 0.769 0.750 0.750 Euro 1.053 1.070 1.070 RMB 0.149 0.145 0.145 Acquisitions/Divestitures No material unannounced acquisitions/divestitures Excludes pending acquisition of Veoneer Active Safety

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Consolidated Outlook Q4 & FULL YEAR 2022 + 2023 OUTLOOK 25

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Consolidated Sales Q4 & FULL YEAR 2022 + 2023 OUTLOOK 26 2021 2022 2023F 2025F • Higher light vehicle production (+) • Content growth (+) ̶ New technologies ̶ New facilities ̶ Launches • Inflation recoveries (+) • Micromobility activities (+) • End of production on certain programs (-) • Program mix: full - cost vs. value - add sales accounting for Complete Vehicles (-) • Disposition of powertrain facility (-) • Organic 1 CAGR of 6 - 8% from '22 to '25 ̶ ~8 - 10% excluding Complete Vehicles 36.2 Unweighted Global LV Production CAGR = 3% (Weighted Global LV Production CAGR = 4%) ($Billions) '22 - '25 6 - 8% CAGR 37.8 39.6 - 41.2 44.7 - 47.2 1 Organic Sales represents sales excluding acquisitions net of divestitures and FX movements

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Unconsolidated Sales 1 Q4 & FULL YEAR 2022 + 2023 OUTLOOK 27 2021 2022 2023F 2025F • Significant growth primarily driven by: ̶ Electrification components and systems (LG JV) ̶ Integrated e - Drives (HASCO JV) ̶ Seating systems 1 Sales at 100% for our unconsolidated entities 2.4 Unweighted Global LV Production CAGR = 3% (Weighted Global LV Production CAGR = 4%) ($Billions) 3.1 3.5 - 3.7 5.2 - 5.4 '22 - '25 18 - 20% CAGR

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Consolidated Adjusted EBIT Margin % 1 Q4 & FULL YEAR 2022 + 2023 OUTLOOK 28 2021 2022 2023F 2025F 2022 - 2023 • Contribution on higher sales (+) • Operational improvement initiatives (+) • Lower warranty costs (+) • Lower commercial resolutions (-) • Higher net input costs (~$150M) (-) • Lower license and royalty income (-) • Higher launch and new facility costs (-) 2023 - 2025 • Contribution on higher sales (+) • Operational improvement initiatives (+) • Higher equity income (+) • Lower launch and new facility costs (+) 1 Excluding other expense (income), net Equity Income ($M) 148 89 180 - 225 95 - 125 5.7 4.4 4.1 - 5.1 6.7 - 7.8 (%)

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Segment Outlook Q4 & FULL YEAR 2022 + 2023 OUTLOOK 29

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Segment Sales & Adjusted EBIT Margin % 1 Q4 & FULL YEAR 2022 + 2023 OUTLOOK 30 1 Excluding other expense (income), net 2 Organic Sales represents sales excluding acquisitions net of divestitures and FX movements Body Exteriors & Structures 2021 2022 2023F 2025F 5.7 5.3 5.5 - 6.5 7.5 - 8.6 Power & Vision 2021 2022 2023F 2025F 11.3 13.0 - 13.4 14.8 - 15.4 '22 - '25 8 - 9% CAGR 11.9 Seating Systems 2021 2022 2023F 2025F 4.9 5.3 5.5 - 5.8 6.2 - 6.6 '22 - '25 6 - 8% CAGR 2021 2022 2023F 2025F 3.1 1.9 2.5 - 3.5 5.2 - 6.2 2021 2022 2023F 2025F 6.5 4.0 4.5 - 5.5 7.6 - 8.7 Complete Vehicles 2021 2022 2023F 2025F 6.1 5.2 4.9 - 5.2 4.0 - 4.5 '22 - '25 (5) - (8)% CAGR 2021 2022 2023F 2025F 4.7 4.5 1.0 - 2.0 2.8 - 3.8 2021 2022 2023F 2025F 14.5 16.0 16.7 - 17.3 20.0 - 21.0 '22 - '25 8 - 9% CAGR Sales ($B) Adjusted EBIT Margin % Organic 2 Sales CAGR 8 - 10% Organic 2 Sales CAGR 8 - 9% Organic 2 Sales CAGR 6 - 8% Organic 2 Sales CAGR (5) - (9)%

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Financial Strategy Q4 & FULL YEAR 2022 + 2023 OUTLOOK 31

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Q4 & FULL YEAR 2022 + 2023 OUTLOOK 32 Capital Allocation Principles Maintain Strong Balance Sheet • Preserve liquidity and high investment grade credit ratings ̶ Adj. debt to Adj. EBITDA ratio between 1.0 - 1.5x • Maintain flexibility to invest for growth Invest For Growth • Organic and inorganic opportunities • Innovation Return Capital To Shareholders • Continued dividend growth over time • Repurchase shares with excess liquidity

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Leverage Ratio Q4 2022 Q4 & FULL YEAR 2022 + 2023 OUTLOOK 33 Planning to increase debt in 2023 ($Millions) LTM EBITDA 3,081 Credit Rating Agency Adjustments 259 Adjusted EBITDA 3,340 Debt per Balance Sheet 5,073 Credit Rating Agency Adjustments 198 Adjusted Debt 5,271 Adjusted Debt / Adjusted EBITDA Ratio (Q4 2022) 1.58x

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Capital Spending Q4 & FULL YEAR 2022 + 2023 OUTLOOK 34 Increased Spending Reflects Investments for Growth 1 2023 to 2025 are based on the level of business reflected in our sales outlook ($Billions) 1.8 1.9 1.7 1.4 1.1 1.4 1.7 5.3 5.1 4.0 3.7 3.5 3.8 4.4 2016 2017 2018 2019 2020 2021 2022 2023F 2024F 2025F % of Sales 1 ~2.4 5.7 - 6.2 ~$1B of increase ('23 - '25) versus '22 is in megatrend areas

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Free Cash Flow 1 Generation Q4 & FULL YEAR 2022 + 2023 OUTLOOK 35 Impacted by Near - Term Growth Investments 1 Free Cash Flow (FCF) is Cash from Operating Activities plus proceeds from normal course dispositions of fixed and other asset s m inus capital spending minus investment in other assets 1.1 1.2 1.6 2.3 1.9 1.3 0.1 2016 2017 2018 2019 2020 2021 2022 2023F 2024F 2025F 0.1 - 0.3 ($Billions)

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In Summary Continued organic sales growth over market Increased investments to support growth in megatrend areas Margin expansion over outlook period, including through operational improvement initiatives Free cash flow improves as sales and margins expand + growth spending subsides Q4 & FULL YEAR 2022 + 2023 OUTLOOK 36

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Q4 & FULL YEAR 2022 + 2023 OUTLOOK 37

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Appendix – Q4 2022 Results Q4 & FULL YEAR 2022 + 2023 OUTLOOK 38

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Q4 2022 Reconciliation of Reported Results Q4 & FULL YEAR 2022 + 2023 OUTLOOK 39 ($Millions, except for share figures) Reported Other Expense, Net Excl. Other Expense, Net Income Before Income Taxes $146 $193 $339 % of Sales 1.5% 3.5% Income Tax Expense $35 $27 $62 % of Pretax 24.0% 18.3% Income Attributable to Non - Controlling Interests $(16) $- $(16) Net Income Attributable to Magna $95 $166 $261 Earnings Per Share $0.33 $0.58 $0.91

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Q4 2021 Reconciliation of Reported Results Q4 & FULL YEAR 2022 + 2023 OUTLOOK 40 ($Millions, except for share figures) Reported Other Income, Net Excl. Other Income, Net Income Before Income Taxes $576 $(90) $486 % of Sales 6.3% 5.3% Income Tax Expense $98 $(17) $81 % of Pretax 17.0% 16.7% Income Attributable to Non - Controlling Interests $(14) $- $(14) Net Income Attributable to Magna $464 $(73) $391 Earnings Per Share $1.54 $(0.24) $1.30

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Sales Performance vs Market Q4 & FULL YEAR 2022 + 2023 OUTLOOK 41 Reported Organic 1 Performance vs Weighted Global Production (Weighted GoM) Body Exteriors & Structures 11% 17% 12% Power & Vision 8% 16% 11% Seating Systems 4% 11% 6% Complete Vehicles (12)% (1)% (6)% TOTAL SALES 5% 13% 8% Unweighted Production Growth 5% Weighted Production Growth 2 5% 1 Organic Sales represents sales excluding acquisitions net of divestitures and FX movements 2 Calculated by applying Magna geographic sales weighting, excluding Complete Vehicles, to regional production Q4 2022 vs Q4 2021

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Sales Performance vs Market Q4 & FULL YEAR 2022 + 2023 OUTLOOK 42 Reported Organic 1 Performance vs Weighted Global Production (Weighted GoM) Body Exteriors & Structures 11% 16% 11% Power & Vision 5% 11% 6% Seating Systems 8% 15% 10% Complete Vehicles (15)% (4)% (9)% TOTAL SALES 4% 12% 7% Unweighted Production Growth 6% Weighted Production Growth 2 5% 1 Organic Sales represents sales excluding acquisitions net of divestitures and FX movements 2 Calculated by applying Magna geographic sales weighting, excluding Complete Vehicles, to regional production 2022 YTD vs 2021 YTD

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Segment Impact on Adjusted EBIT % of Sales Q4 & FULL YEAR 2022 + 2023 OUTLOOK 43 ($Millions) Sales Adjusted EBIT Adjusted EBIT as a Percentage of Sales 4 th Quarter of 2021 $9,110 $508 5.6% Increase (Decrease) Related to: Body Exteriors & Structures $384 $30 0.1% Power & Vision $212 $(62) (0.8)% Seating Systems $46 $(36) (0.4)% Complete Vehicles $(181) $(41) (0.3)% Corporate and Other $(3) $(43) (0.5)% 4 th Quarter of 2022 $9,568 $356 3.7% Q4 2022 vs Q4 2021

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Geographic Sales Q4 & FULL YEAR 2022 + 2023 OUTLOOK 44  Q4 2021  Q4 2022 Asia ASIA PRODUCTION 6% China Production 3% $4.2B $4.7B $0.0B $0.5B $1.0B $1.5B $2.0B $2.5B $3.0B $3.5B $4.0B $4.5B $5.0B $3.7B $3.7B $0.0B $0.5B $1.0B $1.5B $2.0B $2.5B $3.0B $3.5B $4.0B $1.2B $1.2B $0.0B $0.2B $0.4B $0.6B $0.8B $1.0B $1.2B $1.4B $100M $123M $0M $20M $40M $60M $80M $100M $120M $140M North America PRODUCTION 7% Europe PRODUCTION (1)% S.A. PRODUCTION 7% Rest of World Q4 2022 vs Q4 2021

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Segment Sales and Adjusted EBIT Margin Q4 & FULL YEAR 2022 + 2023 OUTLOOK 45 $3.62B $4.00B Body Exteriors & Structures Sales $168M $198M Adjusted EBIT 4.6% 4.9% $1.30B $1.35B Seating Sales $49M $13M Adjusted EBIT 3.8% 1.0% $1.51B $1.33B Complete Vehicles Sales $98M $57M Adjusted EBIT 6.5% 4.3% $2.80B $3.02B Power & Vision Sales $171M $109M Adjusted EBIT 6.1% 3.6%  Q4 2021  Q4 2022

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Appendix - Outlook Q4 & FULL YEAR 2022 + 2023 OUTLOOK 46

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Financial Outlook Q4 & FULL YEAR 2022 + 2023 OUTLOOK 47 2023 2025 Sales: • Body Exteriors & Structures 16.7 – 17.3 20.0 – 21.0 • Power & Vision 13.0 – 13.4 14.8 – 15.4 • Seating Systems 5.5 – 5.8 6.2 – 6.6 • Complete Vehicles 4.9 – 5.2 4.0 – 4.5 Total Sales 39.6 – 41.2 44.7 – 47.2 Adjusted EBIT Margin % 1 4.1% – 5.1% 6.7% – 7.8% Equity Income 95M – 125M 180M – 225M Interest Expense ~150M Income Tax Rate 2 ~21% Net Income Attributable to Magna 3 1.1 – 1.4 Capital Spending ~2.4 1 Adjusted EBIT Margin is the ratio of Adjusted EBIT to Total Sales 2 The Income Tax Rate has been calculated using Adjusted EBIT and is based on current tax legislation 3 Net Income Attributable to Magna represents Net Income excluding Other expense (income), net ($Billions, unless otherwise noted)

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Q4 & FULL YEAR 2022 + 2023 OUTLOOK 48

## Exhibit 99.4

**Exhibit 99.4**

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REFINITIV STREETEVENTS EDITED TRANSCRIPT MG.TO - Q4 2022 Magna International Inc Earnings Call EVENT DATE/TIME: FEBRUARY 10, 2023 / 1:00PM GMT REFINITIV STREETEVENTS \| www.refinitiv.com \| Contact Us©2023 Refinitiv. All rights reserved. Republication or redistribution of Refinitiv content, including by framing or similar means, is prohibited without the prior written consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies.

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FEBRUARY 10, 2023 / 1:00PM, MG.TO - Q4 2022 Magna International Inc Earnings Call CORPORATE PARTICIPANTS Louis Tonelli Magna International Inc. - VP of IR Patrick W. D. McCann Magna International Inc. - Executive VP & CFO Seetarama Swamy Kotagiri Magna International Inc. - CEO & Director CONFERENCE CALL PARTICIPANTS Adam Michael Jonas Morgan Stanley, Research Division - MD Colin M. Langan Wells Fargo Securities, LLC, Research Division - Senior Equity Analyst Itay Michaeli Citigroup Inc., Research Division - Director & Global Head of Autos Sector John Joseph Murphy BofA Securities, Research Division - MD and Lead United States Auto Analyst Mark Trevor Delaney Goldman Sachs Group, Inc., Research Division - Equity Analyst Michael W. Glen Raymond James Ltd., Research Division - Director Peter Sklar BMO Capital Markets Equity Research - Consumer Analyst Rod Avraham Lache Wolfe Research, LLC - MD & Senior Analyst PRESENTATION Operator Greetings, and welcome to the Q 4 and year - end 2022 results and 2023 outlook conference call . (Operator Instructions) As a reminder, this conference is being recorded, Friday, February 10 , 2023 . I would now like to turn the conference over to Louis Tonelli, Vice President of Investor Relations . Please go ahead . Louis Tonelli - Magna International Inc . - VP of IR Thanks, Chris . Hello, everyone, and welcome to our conference call covering our ' 22 results and our 2023 outlook . Joining me today are Swamy Kotagiri, Vince Galifi and Pat McCann . Yesterday, our Board of Directors met and approved our financial results for 2022 as well as our financial outlook . We issued a press release this morning outlining both of these . You'll find the press release, today's conference call webcast, the slide presentation to go along with the call and our updated quarterly financial review all in the Investor Relations section of our website at magna . com . Before we get started, just as a reminder, the discussion today may contain forward - looking information or forward - looking statements within the meaning of applicable securities legislation . Such statements involve certain risks, assumptions and uncertainties, which may cause the company's actual or future results and performance to be materially different from those expressed or implied in these statements . Please refer to today's press release for a complete description of our safe harbor disclaimer . Please also refer to the reminder slide today included in our presentation that relates to our commentary . This morning, we'll cover our 2022 highlights as well as our Q 4 results . We'll then provide our 2023 outlook and lastly, run through our financial strategy . And with that, I'll pass it over to Swamy . Seetarama Swamy Kotagiri - Magna International Inc . - CEO & Director Thank you, Louis . Good morning, everyone . Today, I'll recap 2022 , comment on our results and address our outlook . 2022 was another difficult year for the automotive industry and for Magna . The year started with continued supply chain disruptions, most notably the lack of semiconductor chips, which was expected to improve considerably during ' 22 , but instead remain an issue throughout the year . Although vehicle built recovered 2 REFINITIV STREETEVENTS \| www.refinitiv.com \| Contact Us©2023 Refinitiv. All rights reserved. Republication or redistribution of Refinitiv content, including by framing or similar means, is prohibited without the prior written consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies.

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from the 2021 levels, OEM production schedules remained volatile throughout 2022 , which drove significant inefficiencies in our operations, including tapped labor, overtime and staffing availability issues to name a few . It also had an adverse impact on our ability to achieve our continuous improvement plans and optimize our cost structure across the company . We also started 2022 expecting net input cost inflation of about $275 million year - over - year . The conflict in the Ukraine created additional input cost pressure, particularly in energy, and China's zero COVID policy resulted in lockdowns and further supply chain pressures . These factors drove an additional $290 million of net cost headwinds, primarily energy - related . Despite significant cost volatility through 2022 , we were able to slightly improve from our revised $565 million in net input cost from our April Q 1 call . We ended at $530 million for the year . In the context of this industry environment, a tremendous amount of effort was expanded by our team to manage through the challenges, launch business, negotiate customer recoveries and resolve commercial items . We were also successful in booking a record amount of business for Magna . So while we are not happy with our 2022 results as a whole, and especially with underperformance in some of our facilities, I am appreciative of the tremendous efforts made across the company . Unfortunately, we ended a difficult year with disappointing Q 4 results relative to our expectations entering the quarter . Although our sales of $9 . 6 billion in the fourth quarter of 2022 were up 5 % year - over - year compared to our outlook, Q 4 sales were lower and mix was negative with our operating segments down almost $400 million, excluding complete vehicles and the impact of foreign exchange . Turning back to year - over - year . EBIT margin for Q 4 declined to 3 . 7 % . This was due to both internal and external factors . Internal factors included higher warranty expense, which cost [us about] 35 basis points, provisions against certain balance sheet amounts about 30 basis points and operating underperformance at a facility in Europe by approximately 25 basis points . External factors included continued inefficiencies caused by ongoing last - minute reductions in OEM production schedules and a customer footprint decision that resulted in our having to take asset impairment charges, which was about 5 basis points . These were partially offset by higher commercial resolutions, which positively impacted us by about 25 basis points . Our adjusted EPS was $0 . 91 for the quarter, ending the year at $4 . 10 , and mainly as a result of lower EBIT, free cash flow in Q 4 was $340 million, which was below our 2022 outlook . I recognize that we have operations that have underperformed our expectations this past year . However, operational excellence remains core to Magna, a key differentiator and a fundamental element of our strategy going forward . Although we incurred additional cost to do so, we once again managed to minimize disruption to OEM production despite continued supply chain challenges and volatile schedules . Our customers continue to recognize our efforts in operational excellence and innovation . Last year, we received 107 customer awards, and our progress continues towards net carbon neutrality in our operations . Part of how we address operational excellence is through a focus on people . We developed the operational management accelerator program to enhance the technical breadth of our future general managers and leaders . This will ensure we can fill the pipeline of future leadership across Magna . And I'm proud that Magna received 14 leading employer recognitions this past year, including from Forbes for the sixth consecutive year as world's best employer . Turning to sales growth . We outgrew our markets in 2022 by 7 % . And once again, we achieved this outgrowth in each of our major regions, North America, Europe and Asia . We were awarded a record amount of business, about $11 billion annually for 2022 . This represents more than 30 % above the average of our last 5 years of awards . We expect this to drive strong sales growth over market and improved returns as these programs launch . And we signed an agreement to acquire Veoneer Active Safety . This will further accelerate our growth and position us as a leader in the fast - growing ADAS market . We have begun planning to ensure a smooth integration of the business once the transaction closes this year . Finally, we remain committed to innovation . We were awarded substantial new business in a number of core innovation areas . This includes battery enclosures, E - Drives, Driver Monitoring Systems and Smart Access Power Doors . We won another automotive news -- PACE award, our sixth such award in the past 8 years . FEBRUARY 10, 2023 / 1:00PM, MG.TO - Q4 2022 Magna International Inc Earnings Call 3 REFINITIV STREETEVENTS \| www.refinitiv.com \| Contact Us©2023 Refinitiv. All rights reserved. Republication or redistribution of Refinitiv content, including by framing or similar means, is prohibited without the prior written consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies.

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Our commitment to innovation continues . As we communicated last year, we increased our R&D investments in mobility megatrend areas in 2022 to support awarded programs and opportunities . With that, Pat, I'll pass it off to you . Patrick W . D . McCann - Magna International Inc . - Executive VP & CFO Thanks, Swamy, and good morning, everyone . I'll start with a detailed review of our financial results . As Swamy indicated, our 2022 results were impacted by continued significant disruptions in OEM production schedules, mainly due to supply chip shortages and input cost inflation in our primary markets to levels we have not experienced for decades . Overall, global light vehicle production increased 6 % in 2022 or 5 % weighted for our geographic sales . Our consolidated sales rose 4 % year - over - year . On an organic basis, our sales increased 12 % , driving a 7 % weighted growth over market for the year and (inaudible) customer recoveries . However, our adjusted EBIT margin and EPS declined during 2022 . The [single] most significant factor being input cost headwinds, net of customer recoveries, which reduced our consolidated EBIT margins by about 150 basis points . The start - stop production impacts, while difficult to quantify, were also a meaningful headwind, negating some of the positive impact of higher sales . In addition, operating inefficiencies at a BES facility in Europe cost us about 35 basis points . Entire engineering to support our activities in electrification and ADAS negatively impacted margin by 25 basis points . Partially offsetting these favorable was favorable commercial resolutions that benefited margin by about 45 basis points . For the fourth quarter, global light vehicle production increased 5 % as North America increased 7 % , China increased 3 % , while Europe declined 1 % . On a Magna - weighted basis, production increased 5 % in the fourth quarter . Our consolidated sales were $9 . 6 billion compared to $9 . 1 billion in Q 4 2021 . We had strong relative sales performance in the quarter with organic sales outperforming weighted production by 8 % , again, in part due to customer recoveries However, continued OEM production schedule volatility negatively impacted our pull - through on the higher sales . We had disappointing EBIT margin performance in the quarter, which resulted in Q 4 EPS that was also lower than we expected and lower than 2021 . Let me take you through the specifics on our margin . Adjusted EBIT was $356 million, and adjusted EBIT margin decreased 190 basis points to 3 . 7 % , which compares to 5 . 6 % in Q 4 2021 . The lower EBIT percentage in the quarter reflects higher engineering spend for electrification autonomy, increased net warranty expense, higher launch costs, operational inefficiencies at a facility in Europe and provisions recorded against accounts receivable and other balances . These are partially offset by the impact of foreign currency translation, commercial resolutions and higher contribution on sales, although significantly hampered by OEM production volatility . As we indicated in our early warning press release last month, some of these items were not anticipated when we provided our outlook in early November 2022 . In particular, the net warranty costs, the provision against AR and other balances and the timing of net engineering expense . Turning to a review of our cash flows and investment activities . In the fourth quarter of 2022 , we generated $501 million in cash from operations before changes in working capital and a further $755 million from working capital . Investment activities in the quarter included $750 million for fixed assets and $186 million for increase in investments, other assets and intangibles . Overall, we generated $340 million of free cash flow in Q 4 . We also paid $126 million in dividends in the quarter . Growing our dividend remains an element of our stated financial strategy . And yesterday, our Board approved an increase in our quarterly dividend to $0 . 46 per share, reflecting the Board and management's collective confidence in the outlook for our business . We have increased our dividend per share at an average growth rate of 11 % going back to 2010 . And now I will pass it back to Swamy for comments before I get into the specifics of our outlook . Please note that our outlook excludes the pending acquisition of Veoneer Active Safety . FEBRUARY 10, 2023 / 1:00PM, MG.TO - Q4 2022 Magna International Inc Earnings Call 4 REFINITIV STREETEVENTS \| www.refinitiv.com \| Contact Us©2023 Refinitiv. All rights reserved. Republication or redistribution of Refinitiv content, including by framing or similar means, is prohibited without the prior written consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies.

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Seetarama Swamy Kotagiri - Magna International Inc . - CEO & Director Thanks, Pat . Over the past couple of years, we've been highlighting our go - forward strategy to propel our business into the future . While it is still early days and despite the difficult industry environment, we are making progress in our strategy . You're going to see that this progress is reflected in our 3 - year outlook, mainly through investments in megatrend areas . We start to see some results of our strategy over the next 3 years, but most of the benefits are expected to be realized beyond our outlook period . As always, our outlook reflects both tailwinds and headwinds . Now in terms of tailwinds, we're launching content on a number of new programs, which is contributing to sales growth . Compared to 2022 , we anticipate higher global auto production growth during our outlook period, although the growth rate is well below what we expected a year ago . As I said earlier, we continue to increase our business in megatrend areas, particularly electrification and autonomy . This additional business is leading to increased investment . In terms of headwinds in our outlook, while we experienced some improvement in 2022 , we expect continued OEM production schedule volatility, primarily due to semiconductor supply constraints . Our business is facing further inflationary input cost impacts compared to 2022 , especially in labor and energy as well as lower scrap revenue . We expect incremental input cost headwinds, net of recoveries of approximately $150 million for 2023 . However, I'll tell you that we continue to pursue additional recoveries associated with ongoing input cost inflation . Our prices need to more closely reflect the cost environment we're currently operating in . Lastly, with the existing macro environment, there is a risk that auto demand may be negatively impacted . So how does all this translate in our key financial metrics? We expect continued strong organic sales growth in the range of 6 % to 8 % on average per year over our outlook period . We anticipate margin expansion of 230 basis points or more from 2022 to 2025 . Our engineering investments in megatrend areas should continue to average about $900 million annually before customer recoveries . And capital spending is expected to increase mainly to support our significant business growth, particularly in megatrend areas . Lastly, we expect our free cash flow generation, which has been impacted by the industry environment over the past couple of years to significantly improve over our outlook period, as margins expand and get through our heavy period of investment for growth . As a result of the increased investment spending and the pending acquisition of Veoneer Active Safety, we plan to increase our debt during 2023 . As we continue to execute against our long - term strategy, our # 1 priority in 2023 is operational excellence to improve margins and returns as well as the seamless integration of the Veoneer Active Safety business once the transaction closes . Now I'll pass the call back to Pat to take you through the details . Patrick W . D . McCann - Magna International Inc . - Executive VP & CFO Thanks, Swamy . I'll start with the key assumptions in our outlook . Our outlook reflects relatively modest increases in vehicle production in each of our key regions relative to 2022 . For ' 23 , our global light vehicle assumption is up about 2 % . In North America and Europe, our two largest markets, volumes in 2023 remain well below levels experienced in 2019 . However, we expect the increased production in both markets through 2025 . In China, we expect a modest decline in ' 23 and growth from 2023 to 2025 . We assume exchange rates and our outlook will approximate decent rates . This reflects a slightly weaker Canadian dollar and Chinese RMB and slightly stronger euro in each case relative to 2022 . Net - net, the impact of currency to our outlook is expected to be negligible . I will start with our consolidated outlook . We expect consolidated sales to grow by 6 % to 8 % on average per year out to 2025 reaching almost $45 billion and potentially as high as $47 billion . The growth is largely driven by the higher vehicle production and content growth, including as a result of the launch of new technologies across our portfolio . These are partially offset by the end of production on certain programs and the disposition of a manual transmission facility . On an organic basis, we expect consolidated sales growth to also be between 6 % and 8 % on average per year out to 2025 . Excluding complete vehicles, we expect our organic sales to grow between 8 % and 10 % on average . FEBRUARY 10, 2023 / 1:00PM, MG.TO - Q4 2022 Magna International Inc Earnings Call 5 REFINITIV STREETEVENTS \| www.refinitiv.com \| Contact Us©2023 Refinitiv. All rights reserved. Republication or redistribution of Refinitiv content, including by framing or similar means, is prohibited without the prior written consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies.

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For 2023 , we expect organic sales growth of between 5 % and 9 % compared to global production of 2 % or weighted growth of about 3 . 5 % . You'll see that this growth requires additional capital . In addition, we are expecting significant sales growth from unconsolidated joint ventures over the next few years, including our LG JV for electrification components and systems, our integrated E - Drive JV in China and a new seating JV in North America . We expect our consolidated margin to be in the 4 . 1 % to 5 . 1 % range in 2023 . As Swamy noted, we expect continued input cost pressures in 2023 but we are focused on mitigating higher manufacturing costs, via operational improvements and additional inflation recoveries . Relative to 2022 , our ' 23 margin is expected to benefit from contribution on higher sales, operational improvement initiatives, lower warranty costs and the impact of certain AR and other provisions incurred in the fourth quarter of ' 22 . Offsetting these are lower expected commercial resolutions compared to 2022 , higher net input costs of about $150 million, including $50 million related to lower scrap sales, lower license and royalty income and higher launch and new facility costs . While we do not provide a quarterly outlook, we do expect ' 23 earnings to be lowest in the first quarter of ' 23 , in fact, below the Q 4 level and improve sequentially as we move throughout the year . We expect a step - up in margins from ' 23 to 2025 . This is largely driven by a contribution on higher anticipated sales, continued execution of operational improvement initiatives, higher equity income and lower launch and new facility costs . Many of the same factors that are impacting consolidated sales and margins out to 2025 are also impacting our segments . In the interest of time, we will not run through the segment detail . However, we are happy to discuss any questions . Next, I would like to cover some of the highlights of our financial strategy . We have been consistent in communicating our capital allocation principles over the years, and I'd like to reiterate these . We want to maintain a strong balance sheet, ample liquidity with high investment - grade ratings, invest for growth through organic and inorganic opportunities along with innovation spending and finally, return capital to shareholders . As we begin 2023 , our leverage ratio is just above the high end of our target range, substantially due to the recent impacts of the auto environment -- EBITDA . As Swamy noted earlier, given our investment needs and capital spending, working capital and to fund the acquisition of Veoneer Active Safety, we plan to increase debt in 2023 . We expect to maintain high investment - grade ratings with credit rating agencies . And based on our current plans, we anticipate bringing our leverage ratio back into our target range by the end of 2024 . We are entering a period of somewhat cyclical capital investment to support growth, similar to what we experienced in 2016 to 2018 . We expect capital spending to be approximately $2 . 4 billion for 2023 and to modestly decline from these levels out to 2025 . Compared to our 2022 level, about $1 billion of our incremental capital spending in the ' 23 to ' 25 period relates to our upcoming sales growth in megatrend areas during and beyond our outlook period . This includes almost $500 million in capital in 2023 alone . Based on our current plans, CapEx to sales will reach a peak this year before beginning to decline again . The global and industry challenges have hampered our free cash flow over the past few years . And based on our increased capital spending in the near - term, will impact free cash flow . However, based on our current plans, we expect significantly improving free cash flow throughout our outlook period . In summary, we expect continued organic sales above market, increased investments to support further growth and opportunities in megatrend areas, margin expansion over outlook period, including through ongoing operational improvement activities, and increasing free cash flow as sales and margins expand in our gross spending subside . As Swamy said, we are highly focused on the integration of Veoneer Active Safety and getting back into our targeted leverage range over the next couple of years . Thank you for your attention . We will be happy to answer your questions . FEBRUARY 10, 2023 / 1:00PM, MG.TO - Q4 2022 Magna International Inc Earnings Call 6 REFINITIV STREETEVENTS \| www.refinitiv.com \| Contact Us©2023 Refinitiv. All rights reserved. Republication or redistribution of Refinitiv content, including by framing or similar means, is prohibited without the prior written consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies.

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FEBRUARY 10, 2023 / 1:00PM, MG.TO - Q4 2022 Magna International Inc Earnings Call QUESTIONS AND ANSWERS Operator (Operator Instructions) And our first question is from the line of John Murphy with Bank of America . John Joseph Murphy - BofA Securities, Research Division - MD and Lead United States Auto Analyst Just a couple of questions on the sort of the near - term and midterm outlook . I mean, if we look at the ' 22 to ' 23 numbers, I mean, you can certainly argue that the small decremental margin, right, as earnings could go down, even the sales go up on the low end, but then you could get something to sort of 13 % or sort of mid - teens, depending if you want to include the unconsolidated sales in there . It's kind of a wide range . And I know you kind of highlighted some of the factors here . But I mean, if you were to think about sort of the extreme to the downside, what do you think would really drive that? I mean the upside seems, like it's kind of more normal in the process, but the downside seems like it's pretty extreme . What would take you to that low end of the range? Seetarama Swamy Kotagiri - Magna International Inc . - CEO & Director I think some of the things that I mentioned, right, have been difficult to quantify . And the one significant that shows up in my mind is the production volatility . Just to give a context and put some amount of magnitude around it without naming customers or platforms, if I just look across the major customers that they have, there are some programs where the volumes are in the 50 % to 60 % of the contracted plan . On top of that, at these low volume numbers, the variability of the production schedule is hovering anywhere between 35 % to 50 % . And that is a significant inefficiency hit in terms of managing labor, looking at (inaudible) labor or just looking at the overall cost structure . I would say that is one significant impact . The other one is energy in Europe, how it ends up and how it progresses . And obviously, the third one is a significant headwind in terms of inflation and input costs . And it's a complex equation that we're trying to solve here . And that's kind of the reason why -- and looking at the geopolitical and macroeconomic issues, I think are the reason for the broader range that we're looking at . And I think we'll be able to get a little bit more granularity as the year goes by . John Joseph Murphy - BofA Securities, Research Division - MD and Lead United States Auto Analyst And Swamy, the one plant -- or it seems like there's one plant in Europe that's causing you problems . I mean this kind of happens from time to time, there's one underperformer in the large portfolio . Can you kind of highlight or give us some details around what's going on with that? Because it sounds like it's called out as one specific plant and what the turnaround process is there? Seetarama Swamy Kotagiri - Magna International Inc . - CEO & Director Yes, John . It's a BES facility, and I think I talked about it in the last 2 quarters . And it's basically the planning and efficiency, and I talked about a little bit in looking at the specifications and how it was underestimated, which led to a lot of constraints on production capacity and [strike] . But the good news is that over the last 2 quarters, it has been stabilized and the expected impact that we have planned in Q 4 came as we expected . So I think the facility is stable, and we are continuing to improve in 2023 . But I think I've mentioned in the past, it takes a little bit of time to balance the capacity back to normal . Some of the outsourcing that we bring back in get the stability that is needed, put the capacity that was needed . I'm confident that we are on the right path in that one . But you're right, that is the one facility that has had a significant impact in the numbers on the underperformance bucket . 7 REFINITIV STREETEVENTS \| www.refinitiv.com \| Contact Us©2023 Refinitiv. All rights reserved. Republication or redistribution of Refinitiv content, including by framing or similar means, is prohibited without the prior written consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies.

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John Joseph Murphy - BofA Securities, Research Division - MD and Lead United States Auto Analyst Okay . And then just second on the midterm, the ' 23 to ' 25 in your guidance, I mean, you once again, kind of 27 % incremental . So after what we're seeing from ' 22 to ' 23 , I think there's a little bit of consternation that those might be a little bit on the optimistic side . I mean is this really a question of the markets normalizing on volume and volatility and cost inflation normalizing? Or is there something else that you can really control that will drive that kind of upside? Seetarama Swamy Kotagiri - Magna International Inc . - CEO & Director There's a couple -- yes, a few factors, John . I think one definitely is -- we can just hope, right? We are hoping that the market stabilizes, but we can just bank on that . Some of it is accelerated continuous improvement, how we're looking at it . We have had discussions in ' 22 on recoveries with customers and they continue to happen, and we have started those discussions for ' 23 already back in the Q 4 of ' 22 . So they really know where we stand . And it's not just limited to 2023 . There is pre - 2023 discussions that continue to be had . So it's a mix of all of those . But I think we're also looking at the operational efficiency and excellence that I talked about is going to be a key priority, right, get back to the cash flow generation, looking at not even having the surprises that we've had, looking at true causes and how do we make it better . So it's a combination of those . John Joseph Murphy - BofA Securities, Research Division - MD and Lead United States Auto Analyst Seems like you're being awful polite given the volatility in the schedules that you're being given . Just lastly, real quick on Veoneer, what will be the financial impact? If you can just remind us on cash out the door accretive when it becomes accretive? And if we think about that in the context of the balance sheet . Does that put us in a position where there's likely to be no buybacks in ' 23 and ' 24 as capital is allocated in that direction that balance sheet normalizes? Patrick W . D . McCann - Magna International Inc . - Executive VP & CFO John, it's Pat . Let me -- maybe I'll answer those in reverse order, if that's okay? So if you think about the share buybacks, our financial strategy has been pretty clear, which is # 1 priority is investment grade ratings, # 2 is to grow the business . And then if there's cash left over after those activities, we'd be returning it through share buybacks . Given the capital levels and the acquisition of Veoneer, our intention would be that we're not going to have any share buybacks in 2023 , and we will normalize come back within our targeted leverage ratios and that we would obviously revisit that in 2024 . Veoneer itself, on the acquisition, we're still targeting a midyear close on that transaction . On a stand - alone basis, they're expected to be post breakeven in 2023 , on a full year basis, where it's going to be marginally decremental in 2023 , given the PPA that we have in there . As we move into ' 24 , the first full year of ownership, we expect it to be breakeven at the Magna level excluding PPA . John Joseph Murphy - BofA Securities, Research Division - MD and Lead United States Auto Analyst I mean the cash out the door for that? Patrick W . D . McCann - Magna International Inc . - Executive VP & CFO The transaction price is approximately $1 . 5 billion . FEBRUARY 10, 2023 / 1:00PM, MG.TO - Q4 2022 Magna International Inc Earnings Call 8 REFINITIV STREETEVENTS \| www.refinitiv.com \| Contact Us©2023 Refinitiv. All rights reserved. Republication or redistribution of Refinitiv content, including by framing or similar means, is prohibited without the prior written consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies.

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Operator Our next question is from the line of Adam Jonas with Morgan Stanley . Adam Michael Jonas - Morgan Stanley, Research Division - MD So a question on your actions . What are you doing specifically, what's the plan to improve these very disappointing results, Swamy? I mean I see you call out cutting discretionary costs and securing more inflation recoveries, which may or may not be in your control, but let's assume -- I think the market's going to assume not fully in your control . You addressed a plant in Europe . But is it time -- from my history covering Magna, there's never really been -- it's been a long time since you've done like a more sweeping restructuring because you always have the Magna way and is continuously happening . But is there -- is this a chance when your margins are falling and your CapEx is rising into this environment where you need to do something a little more significant on the restructuring side . If you could be specific with how we should think of that, that would be great . Seetarama Swamy Kotagiri - Magna International Inc . - CEO & Director Fair point . Very good question . I think if you think back from 2018 timeframe, we did actually restructure and talked about the cost base . And unfortunately, with the COVID and everything, we didn't see the impact that we thought we would but we did see it and we got to offset by a lot of stuff . So that's one . Discretionary spending and past recoveries are just a couple of elements that we're talking about . But I think like I said, one of the key factors is looking at -- production volatility is given . Hopefully, it gets better, but it's been that long enough . We are looking at how the discussions we had and how do we address it . So we can have a little bit of a more stable run rate and look at cost optimization across, whether it is to offset the labor inflation side of things, or some of the other cost inputs that are coming . That's going to be important for us . So that, I would say, is the more broad sweeping initiative across the company . In terms of restructuring, I think that is an annual process that we go through to see reconsolidation divestitures . If you look back in the last 3 years, we've done that and we continue to do so . But I think the key is going to be looking at how do we get the cost base and new cost base, given the volumes that we're seeing over the near - term and the midterm, which is not really recovering to the 2019 levels . I would say that is going to be the fundamental focus and priority for us, to get the class basis to where we need to give the volumes . And I think the volatility is something we have to take into account will be there, and we have to address it . Patrick W . D . McCann - Magna International Inc . - Executive VP & CFO And if I can just add, Swamy . Sorry, Adam, when you think about that infrastructure, we - - Swamy mentioned, we have done significant restructuring . We've looked at the product portfolio and taken out -- whether it's significant groups . But the outlook we do provide on a, I would say, a adjusted basis . So we do have significant restructuring even in our 2020 to 2022 period, we recorded significant charges in Q 4 , and we're going to continue to restructure our footprint for a couple of reasons ; one is [a vice transition] to the BEVs we're going to have transition has to happen there . But we're also transitioning our footprint from higher - cost regions into best - cost countries, and that's going to continue . So when you look historically, where we have those cost, those are going to continue in the future as we move forward . And some of the margin improvement we're anticipating on the earlier question is driven by these restructuring actions . Adam Michael Jonas - Morgan Stanley, Research Division - MD Just one follow - up on the capital intensity . You look back 10 years, 20 years on Magna and your CapEx has been around 4 % of sales . And I've never seen it at 6 % . You're going to be near there this year . You called out that, that's kind of temporary and it will decline thereafter . But beyond that, FEBRUARY 10, 2023 / 1:00PM, MG.TO - Q4 2022 Magna International Inc Earnings Call 9 REFINITIV STREETEVENTS \| www.refinitiv.com \| Contact Us©2023 Refinitiv. All rights reserved. Republication or redistribution of Refinitiv content, including by framing or similar means, is prohibited without the prior written consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies.

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as we think of the shape of decline from 6 % , are we -- is 4 % the wrong number? Is a new normal, maybe closer to 5 % ? It seems like the capital intensity in the business might be structurally rising for the next few years . Am I wrong there? Should we kind of throw that 4 % out the window? Patrick W . D . McCann - Magna International Inc . - Executive VP & CFO I think in the near - term, Adam, the 4 % would be below . I was at a very -- actually Swamy, myself, we were at a very capital - intensive group in our career . And really what you see when you look at a cycle where you have awards, the growth is just not lumpy . And right now, with the growth that's ahead of us, you're putting heavy investment in and this is beyond a Magna issue as well where you're growing with a new industry when you're looking at EV penetration is going up, and we're transitioning our portfolios from one to the other . But more importantly, we're growing with new products that requires significant capital . So we are above 5 % . We expect to be above 5 % through our outlook period but it's going to normalize . Where is it going to normalize down to? I see no reason it wouldn't normalize back down to where we've operated historically . Seetarama Swamy Kotagiri - Magna International Inc . - CEO & Director And a little bit more color, Adam . I think we operated generally around $1 . 8 billion or so, even for 2022 , and we ended up at $1 . 7 billion . Some of it was deferrals into ' 23 . And as I mentioned, we had a record level of awards in 2022 . That means requires capital prior to program launches . And as I said, this is a 30 % higher than 5 - year average bookings . So I would say about $500 million of that is in 2023 alone is in the megatrend areas . This includes battery enclosures, which is the lion's share, and along with power and electrification and new mobility . But I think as Pat mentioned, we expect this to be back to the normal levels . We are confident that how we see it unless there is a new business, which would be good news at that point . But the ratio should be back to where we historically have been . Patrick W . D . McCann - Magna International Inc . - Executive VP & CFO But Adam, if I could just add, just to be clear, these investment decisions are return - based transactions, and we haven't compromised our return expectations . This is capital that we're growing . If you come back to our capital allocation strategy, its # 1 priority is to grow the business, grow it internally, externally, whether it's greenfield, brownfield . But if we're generating returns at our appropriate expectations, that's our priority, and we continue down that path . We haven't made a decision to decrease returns with the objective of growing sales . This is -- the objective is to grow returns in the future and drive value for shareholders . Operator Our next question is from the line of Peter Sklar with BMO Capital Markets . Peter Sklar - BMO Capital Markets Equity Research - Consumer Analyst You've talked this morning about the elevated level of engineering costs that you're incurring . It sounds, like they're mostly related to vehicle electrification and ADAS . So can you talk about, like how do you get a return on that investment? Is there a customer reimbursement and this is a timing issue? Or do you recover it through the programs? And I assume you recover these costs through the programs . And when is the crossover point when these programs are [almost] sufficient? They ramp -- they've begun, they've ramped, they're of sufficient scale that you start to recover some of these costs? FEBRUARY 10, 2023 / 1:00PM, MG.TO - Q4 2022 Magna International Inc Earnings Call 10 REFINITIV STREETEVENTS \| www.refinitiv.com \| Contact Us©2023 Refinitiv. All rights reserved. Republication or redistribution of Refinitiv content, including by framing or similar means, is prohibited without the prior written consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies.

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Patrick W . D . McCann - Magna International Inc . - Executive VP & CFO Peter, I'll start and Swamy, jump in . So when you think about the engineering spend, we say they're elevated . I would say they're fairly consistent with our previous outlook where we would have been guiding . When you think about some of these new types of products we're getting into, they're higher engineering and we just spoke about capital intensity, and that applies in our industrial group where you buy assembly lines, brick, mortar that type . When you move into electrification and ADAS type programs, your capital spend tends to be lower, but it's replaced with an engineering analysis . But our program analysis, our quoting models don't change . It's still viewed as a -- if we treat it effectively as a capital spend . So that's kind of the return profile . When you think about the engineering spend that goes through our books, It is -- as you said, it's two pieces . There's a piece that's up some upfront payments prior to program prior to SOP . The second portion is you might have it recovered . So you'll see this other asset spend we referred to and this is guaranteed spending that we recover over the program life . And then the third obviously just comes through piece price recoveries . All that means a long answer, our expectations are we we're going to win, we're going to recover all that engineering spend and the returns on those programs are equal to the returns we achieved in the rest of our portfolio . Seetarama Swamy Kotagiri - Magna International Inc . - CEO & Director And I think that's one of the things we said that we are expecting the net engineering to be relatively neutral to earnings through our after period and it's going to be $900 million annually as we have talked in the past . So just talking about the Q 4 , it's just a matter of timing . Peter Sklar - BMO Capital Markets Equity Research - Consumer Analyst Okay . And I believe I heard you say, Pat, that you expect that earnings are going through - - 2023 quarterly earnings are going to improve sequentially about the earnings level on an adjusted basis in Q 1 would be less than the Q 4 that you just reported today . And when I look at -- just looking at the industry vehicle production volumes, like North America and Europe are going to be up quarter - over - quarter . So why -- what are the dynamics that's causing Q 1 to look a little bit weaker than Q 4 ? Patrick W . D . McCann - Magna International Inc . - Executive VP & CFO So if you think about Q 4 , you normalize it for some of the unusuals, and we take that . I would say that's factors going one way . When we move into Q 1 , we did have some positive commercial settlements in Q 4 that just the nature of how these discussions proceed, Peter, and a split of what's continuing versus what's new . Those discussions will [tend to resolve], so we're conservative in our accounting procedure . So we're going to only record those recoveries as incurred or received . So I think it's slightly below Q 4 levels, Peter, and then we're going to see growth as we come through . And the other factor you have to consider is as we go through the year, we're expecting volatility in the industry to improve just as we move throughout the year . So I would say it's a combination of unusual items in Q 4 , it's the inflation recovery is being pushed into Q 2 , Q 3 , Q 4 similar to what we experienced this year, and then normalization of the OEM production schedules . Peter Sklar - BMO Capital Markets Equity Research - Consumer Analyst Okay . And then just lastly, like one of the issues that you've raised for -- on the Q 4 earnings has been higher warranty accruals . So what's going on? Is there any one program that caused this? Or is it just kind of random from quarter to quarter? FEBRUARY 10, 2023 / 1:00PM, MG.TO - Q4 2022 Magna International Inc Earnings Call 11 REFINITIV STREETEVENTS \| www.refinitiv.com \| Contact Us©2023 Refinitiv. All rights reserved. Republication or redistribution of Refinitiv content, including by framing or similar means, is prohibited without the prior written consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies.

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Seetarama Swamy Kotagiri - Magna International Inc . - CEO & Director No, Peter, I think this was specific, one product line or one program product in electronics that cost the warranty issue in the (inaudible) segment . Can't get into the specifics, obviously, with the customer in all of that . But it was one specific program, contained and understood . It is done . It's behind us, and it's related to electronics . Operator Our next question is from the line of Mark Delaney with Goldman Sachs . Mark Trevor Delaney - Goldman Sachs Group, Inc . , Research Division - Equity Analyst The company's 2025 EBIT margin outlook is about 100 bps lower than what the company thought it was going to do for 2024 when you gave that 3 - year plan a year ago . The revenue views are pretty similar to what you think you'll do in ' 25 versus what you thought in ' 24 . So it doesn't seem like there's any change to the revenue view that 3 years 4 , but margins are now 100 bps or so lower . So could you bridge us what's changed on the EBIT margin potential of the business in 3 years? Seetarama Swamy Kotagiri - Magna International Inc . - CEO & Director Yes, I would say the most meaningful change from what we said last February to what we're talking about is lower volumes, right? We talked about the higher level of net input costs and lost sales and contribution from our business in Russia . I would say those are the significant points that account for the change . And you've got to look at margin loss, right? Our percentage has been negatively impacted by increased revenues and costs from inflation . And I keep repeating this, but if the - - if you take into account the loss due to the volatility in production schedules, the inefficiencies, we're not discounting that . It will be fully done . Hopefully, it does, but that's been a negating factor, too . Mark Trevor Delaney - Goldman Sachs Group, Inc . , Research Division - Equity Analyst Got it . And my second question was on the pricing environment and the ability for Magna to get recoveries from customers . Maybe you can elaborate a little bit more specifically on what happened in the fourth quarter? Because I know it was a positive in the quarter, but I don't think it was as much of a positive as the company had originally been guiding for . So what happened in the fourth quarter on recoveries? And can you talk a little bit more on what's assumed in recoveries for 2023 in terms of what would get the company to the lower end of the guidance? And what would have to happen with recoveries to get to the higher end of the guidance? Seetarama Swamy Kotagiri - Magna International Inc . - CEO & Director I think, Mark, maybe I just want to clarify . We have guided to, from a net cost inflation - wise, was about $565 million in our Q 1 April, and we ended up at $530 million . So that was one . I mean when we talk about settlements, I think we've got to take all of this into account as we've had discussions, right? Some of it is -- are coming in terms of more process - oriented long - term adjustments in terms of our recovery . Some of it is coming in lump sums . And some of it is offset to give back and so on . So were the customers have, for example, a change in [Russian] footprint or volume agreements that -- contracts, that ends up in commercial settlements . So our guide to what we said the net inflation cost was going to be, I think we held and did better . Commercial settlements are really a little bit in terms of negotiations overall, which ended up in the fourth quarter . FEBRUARY 10, 2023 / 1:00PM, MG.TO - Q4 2022 Magna International Inc Earnings Call 12 REFINITIV STREETEVENTS \| www.refinitiv.com \| Contact Us©2023 Refinitiv. All rights reserved. Republication or redistribution of Refinitiv content, including by framing or similar means, is prohibited without the prior written consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies.

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Patrick W . D . McCann - Magna International Inc . - Executive VP & CFO Just to add to that . So Swamy, you're exactly right . So relative to expectations, we outperformed and that's what drove the decrease from the $550 million down to the $530 million Mark, on a year - over - year basis, you're correct, where we do have headwinds on a year - over - year basis . So relative to expectations we outperformed on a year - over - year basis -- it's all for the quarter . Mark Trevor Delaney - Goldman Sachs Group, Inc . , Research Division - Equity Analyst Okay . And just one last one for me, if I could, please . The warranty expense, I believe I heard it's contained to ' 22 . So you're not expecting that to be an issue in the ' 23 guide . This underperforming facility, maybe you can elaborate how much of a headwind do you expect that to be (inaudible)? Patrick W . D . McCann - Magna International Inc . - Executive VP & CFO Relative to ' 22 , Mark, the operating facility in Europe is expected to be a positive . So as we said earlier, we have the headwinds of ' 22 , relative to expectations . We move into ' 23 , we're seeing improvements . We have this is full focus . We have a team dedicated to it . And we're driving to execute everything Swamy is talking about as far as increasing capacity, reducing the outsource, and we're seeing the benefits of those actions take place already, and they're going to continue to improve both throughout the year . Operator Our next question is from the line Itay Michaeli with Citi . Itay Michaeli - Citigroup Inc . , Research Division - Director & Global Head of Autos Sector Just two questions for me . I was hoping that we could go through some of the segment margin walk on Slide 30 and particularly on a complete vehicle assembly for ' 23 and 2025 . And then just secondly, hoping you could also comment on kind of what you're seeing the latest on overall production volatility by region and whether you're starting to see any signs of stabilization that kind of supports the outlook for improvement in Q 2 and beyond . Patrick W . D . McCann - Magna International Inc . - Executive VP & CFO It's Pat . I'll start with the first one as far as the margins in complete vehicles, and Swamy can jump in on the schedules . So looking at the complete vehicles, the margin from 2022 into 2023 , there's a few factors that are driving that . In ' 22 , we did have -- we did benefit from some customer settlements and licensing income, so we have licensed out at EE architecture . Both of those are expected to recur in 2023 . Those two factors are a negative drag of about 70 basis points . The second bucket I would refer to is we do have higher input costs . This is an operation in Europe where we do have significant labor and energy headwinds . And at the same time, we do have engineering program specific costs that are accelerating in 2023 versus ' 22 . Those two factors combined for about a 90 basis point impact . And then obviously, as we've discussed previously, we're transitioning that facility as we move certain programs out and launch new ones . And those costs are a drag on earnings just by the nature of incurring costs and lower revenues . Itay Michaeli - Citigroup Inc . , Research Division - Director & Global Head of Autos Sector Terrific . That's very helpful . And maybe just a comment on the production volatility . FEBRUARY 10, 2023 / 1:00PM, MG.TO - Q4 2022 Magna International Inc Earnings Call 13 REFINITIV STREETEVENTS \| www.refinitiv.com \| Contact Us©2023 Refinitiv. All rights reserved. Republication or redistribution of Refinitiv content, including by framing or similar means, is prohibited without the prior written consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies.

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Seetarama Swamy Kotagiri - Magna International Inc . - CEO & Director Yes . I think the production volatility in terms of a couple of programs, right, significantly lower than what the expected volumes were . And we always plan to some degree, launch - related costs where there's more than estimated, sometimes as the launches go through . And I think there is a little bit in terms of that level of cost associated with this transition that's been a drag . Operator Our next question is from the line of Colin Langan with Wells Fargo . Colin M . Langan - Wells Fargo Securities, LLC, Research Division - Senior Equity Analyst Just wanted to follow - up on input costs . You noted it was $150 million for this year . Any color on what percent recoveries you're kind of assuming in that, so we can kind of gauge the sort of expectations there? And you said you ended at $530 million for ' 22 . Is the long - term plan to get 100 % of that? Any color on that? And of that, when you negotiated last year, is all of that locked in? Or do you have to renegotiate if costs don't come down versus (inaudible)? Seetarama Swamy Kotagiri - Magna International Inc . - CEO & Director As I said in my previous comments and to a previous question, some of these settlements, right, are long - term (inaudible) changes in [Page 5 ] going forward programs being [invested], which takes a bit of volatility and so on . And some of it is just addressing the amount specific to the year of ' 22 . But it does give us a framework and a precedent . So it's a combination of addressing both together . We won't get into the specifics of customers and how and what . I can definitely say that we have started the discussions in Q 4 . The customers know where we stand . Obviously, we want the economics to reflect the currency in terms of where the market is . So it's a combination of those . Like Pat mentioned, there's a lot of these discussions ongoing . And then we're going to use what we had in ' 22 , but the discussions on ' 22 , even or pre - ' 23 , I would say it's not even done, right? So we continue to pursue recoveries on all aspects, not just for ' 23 , but some elements of ' 22 . Colin M . Langan - Wells Fargo Securities, LLC, Research Division - Senior Equity Analyst I guess just put it another way, I mean, are you thinking of this as this is your portion of the costs that you're going to have to find ways of coming out over time? Or you're thinking customers, eventually, you'll be able to get this through customers in some period? As I think other slides have talked some of this -- is just a responsibility at this point . Seetarama Swamy Kotagiri - Magna International Inc . - CEO & Director Some of it is -- it's both, right? There are some which are indexed, some which are -- I talked about production volatility and scheduling . We definitely want -- we (inaudible) in helping . And as we said, we did not cause any disruptions, but it comes at a cost . So we have to work together to figure out how to reduce that volatility, so we can address the cost base and health efficiency overall . But on the other hand, we are not saying it's just everything outside . In my prepared comments, I did talk about continuous improvements in setting -- resetting, I would say, the cost base, but that can be done only to work together . So it's kind of a bilateral but there are some issues which we continue to push in terms of recoveries is wafer energy or commodity costs . FEBRUARY 10, 2023 / 1:00PM, MG.TO - Q4 2022 Magna International Inc Earnings Call 14 REFINITIV STREETEVENTS \| www.refinitiv.com \| Contact Us©2023 Refinitiv. All rights reserved. Republication or redistribution of Refinitiv content, including by framing or similar means, is prohibited without the prior written consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies.

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Colin M . Langan - Wells Fargo Securities, LLC, Research Division - Senior Equity Analyst Got it . And just if I go to the slides last year, you targeted a pretty impressive $6 billion in free cash flow from ' 22 to ' 24 . If I look at the slides this year, the same period looks like it's adding up to something less than $2 billion . I mean what are the main drivers here? Is it just -- obviously, CapEx has stepped up . And kind of why is that, it's only been a year? And then I assume a lot of it's the margin weakness . Anything else from a working capital perspective that's sort of impacting that number that we should be considering? Patrick W . D . McCann - Magna International Inc . - Executive VP & CFO Colin, it's Pat . When I think of where we were last and where we stand today, I think the biggest variances are a few, right? We talked -- Swamy touched earlier on the margin question, if we just focus out to 2025 . So we're impacted by we've seen significant volume, geopolitical issues in Europe that are driving volumes down for those effectively throughout our whole [level of] period, which drive the inflation significantly . If you think about our outlook, we provided last year, we updated in the appropriate book and reflect an additional $290 million primarily of energy cost . So we have -- and then the third thing, as Swamy said earlier, we were forced (inaudible) Russian operations . So you have on the P&L side, you have those factors driving our earnings . And then we have significant growth above where we expected last year . And when you think about that growth that flips into what we see in our cash flow statement, which is driving higher capital, whether it's accelerated, but it's significant capital to our growth . So long answer, but I think it's a combination of volumes, input costs offset and typically just the growth that's driving the cash . Operator Our next question is from the line of Rod Lache with Wolfe Research . Rod Avraham Lache - Wolfe Research, LLC - MD & Senior Analyst As we look out to 2025 , you do have the (inaudible) get back to over $3 billion of EBIT is similar for you back in 2018 , but on much higher revenue and more capital than we saw back then . And I was just hoping you can address whether the business is structurally less profitable going forward . And I'm not -- I'm still not sure I understand what you're assuming with regard to the, I guess, it $680 million of higher input costs, the $150 million this year and the $530 million last year . Are you assuming that, that essentially gets recovered by mid - decade? Patrick W . D . McCann - Magna International Inc . - Executive VP & CFO So Rod, maybe I'll answer the second part of that question . Swamy can jump in on the first . On the -- so for 2022 versus 2021 , we had net input cost headwinds of $530 million . And that's what was reflected as an EBIT hit, I would say . As we move into 2023 , the additional $150 million is a combination of headwinds . We have inflationary costs primarily in Europe for -- well, labor is actually global, but we're seeing labor headwinds where we're operating the increases are in the mid - digits for above standard across the globe . And we also have continued energy headwinds in Europe . So those are the first two buckets driving headwinds into ' 23 . And the other part of it -- that's $100 million on a net basis, net of recoveries . The second part is scrap, and these are contractual scrap balances month to month per contract . So to answer your question, we have a $150 million incremental EBIT charge in ' 23 versus ' 22 . Rod Avraham Lache - Wolfe Research, LLC - MD & Senior Analyst Sorry, I was asking about whether you have that reversing by 2025 . The combination of these headwinds . Are you anticipating that in this $3 billion of EBIT that you're projecting by then that, that has been fully recovered or resolved now? FEBRUARY 10, 2023 / 1:00PM, MG.TO - Q4 2022 Magna International Inc Earnings Call 15 REFINITIV STREETEVENTS \| www.refinitiv.com \| Contact Us©2023 Refinitiv. All rights reserved. Republication or redistribution of Refinitiv content, including by framing or similar means, is prohibited without the prior written consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies.

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Patrick W . D . McCann - Magna International Inc . - Executive VP & CFO No . So it's -- a portion would roll off, Rod, as contracts launch . So you have a combination of old economics, new economics . And as we continue our business and you think about our launch period, these inflationary headwinds started hitting roughly this time last year . So as we move forward and launch new business, that will reflect new economics . So - - 2025 portion would reflect a combination of old and new . So the answer is somewhere in between . Seetarama Swamy Kotagiri - Magna International Inc . - CEO & Director And some of this rollover changes, like labor inflation is going to be sticky and we have to offset that in terms of continuous improvements and other, call it, structural improvements going forward and accelerate the continuous improvement as we talked about . And to address the first part of your question, Rod, I'm confident that it is not a fundamental shift in the profile of the business, right? I think some of the things that we talked about is actually the transition of all these input cost effects and the higher investment that we're making for the businesses that we've won . I think as we transition through in the long - term, I believe there is no foundational or fundamental change in the profile of the business . So the 2018 , in terms of percentages of ratios, we can get back to . But I think the more important part is that's weighing on us is the uncertainty of what's going on in the industry right now . Rod Avraham Lache - Wolfe Research, LLC - MD & Senior Analyst And just Swamy, just in light of what's happening in the market and strategies of some of your peers, are you still of the view that diversification is a net positive for Magna? Or just given the complexity of issues in different parts of the company that we've seen over years, is there more benefit from focus on and having some of the businesses you're kind of independent response? Seetarama Swamy Kotagiri - Magna International Inc . - CEO & Director Yes, Rod, I think if I understood your question, you're talking about the portfolio of products and the focus related question . I tend to kind of look at what's happening in the industry and how the kind of the future is going to be designed or how is it going to be sourced is changing . And our customers that are shifting their organization even, whether it is the sourcing side of things or engineering side of things to be looking at more highly integrated systems . Some of the OEMs have already changed their organizations to address their aspect of it . So I think we are at Magna not looking at body and chassis and seats and electronics and powertrain as independent . But more or less, what are the systems that are going to evolve going forward and how do we build those synergies to get a system approach solution to it . With that said, we continuously look at each of these products how they evolve and how relevant are they going forward and what synergy values that we can bring . And if they are not, as we have done in the past, we'll do what is necessary . Operator Our next question is from the line of Michael Glen with Raymond James . FEBRUARY 10, 2023 / 1:00PM, MG.TO - Q4 2022 Magna International Inc Earnings Call 16 REFINITIV STREETEVENTS \| www.refinitiv.com \| Contact Us©2023 Refinitiv. All rights reserved. Republication or redistribution of Refinitiv content, including by framing or similar means, is prohibited without the prior written consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies.

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Michael W . Glen - Raymond James Ltd . , Research Division - Director Just wanted to zone in a bit on the body and exteriors margins . Can you just highlight how the mega spend trend or incremental spending with megatrend is impacting that specific business? Is battery trade part of that segment? I guess I always thought it was somewhat agnostic to megatrends . But I'm just trying -- wondering if there's something there I should be thinking about? Seetarama Swamy Kotagiri - Magna International Inc . - CEO & Director Yes . I would say when we say it's agnostic, I think also the content that we have had and continue to have remains, although it evolves a little bit in material and process irrespective of the propulsion system . But an added addition to the product in that segment would be battery includes, right? As the electrification continues and we have the material mileage, the joining technologies as well as the asset base that has become a significant growth area . And we have seen that both in terms of wins of programs, but also you see the amount of investment we are making on business that's already been awarded . In some cases, it's expanding the volumes of the business that has been awarded . Michael W . Glen - Raymond James Ltd . , Research Division - Director Okay . And for that $900 million number, are you able to break that down across -- how that splits across the various segments? Seetarama Swamy Kotagiri - Magna International Inc . - CEO & Director I would say that $900 million is predominantly on the [CV] segment . As Pat talked about this year, whether it's electrification or electronics and so on are more, call it, engineering intensive . When we talk about BES, it's more capital intensive, right? But we also have to keep in mind that the asset base that we have, which is not program specific is an advantage for us, right? The new investments are related to the program specific once they come . And again, we follow the same philosophy of getting the right returns and looking at each of the programs . Michael W . Glen - Raymond James Ltd . , Research Division - Director Yes . Okay . And the $11 billion of new business wins that you spoke about . So a ; can you give some idea of how those spread across the various segments? And then as well, can you describe how the margin profile embedded in that $11 billion is different from what we've seen historically? Is it much lower on the front end of that versus what we've seen historically? Seetarama Swamy Kotagiri - Magna International Inc . - CEO & Director Yes . I think as I said in my comments, I won't get into breaking up $11 billion by product line, but I definitely have mentioned and will repeat, it's across Magna . There is definitely an incremental business for the megatrend areas, and I talked about whether it's E - Drives, whether it's battery enclosures, whether it's driver monitoring systems and so on . And I just want to reiterate the business growth is always on the financial hurdles that we have followed before, which is return space, and the profile remains the same, right? So it is not a lower margins or lower hurdles financially . So I believe as we launch this business going forward, our returns profile and cash flow generation gets better . Operator And there are no further questions on the line at this time . I'll turn the presentation back to Swamy for any closing remarks . FEBRUARY 10, 2023 / 1:00PM, MG.TO - Q4 2022 Magna International Inc Earnings Call 17 REFINITIV STREETEVENTS \| www.refinitiv.com \| Contact Us©2023 Refinitiv. All rights reserved. Republication or redistribution of Refinitiv content, including by framing or similar means, is prohibited without the prior written consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies.

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Seetarama Swamy Kotagiri - Magna International Inc . - CEO & Director Thank you, Chris, and thanks, everyone, for listening into our call today . Industry conditions continue to be tough . We remain focused on controlling costs across the organization, improving underperforming operations and pursuing inflation recoveries from customers, all while executing our go - forward strategy . Enjoy the rest of your day, and thanks for listening again . Operator That does conclude the conference call for today . We thank you for your participation and ask that you please disconnect your lines . DISCLAIMER Refinitiv reserves the right to make changes to documents, content, or other information on this web site without obligation to notify any person of such changes . In the conference calls upon which Event Transcripts are based, companies may make projections or other forward - looking statements regarding a variety of items . Such forward - looking statements are based upon current expectations and involve risks and uncertainties . Actual results may differ materially from those stated in any forward - looking statement based on a number of important factors and risks, which are more specifically identified in the companies' most recent SEC filings . Although the companies may indicate and believe that the assumptions underlying the forward - looking statements are reasonable, any of the assumptions could prove inaccurate or incorrect and, therefore, there can be no assurance that the results contemplated in the forward - looking statements will be realized . THE INFORMATION CONTAINED IN EVENT TRANSCRIPTS IS A TEXTUAL REPRESENTATION OF THE APPLICABLE COMPANY'S CONFERENCE CALL AND WHILE EFFORTS ARE MADE TO PROVIDE AN ACCURATE TRANSCRIPTION, THERE MAY BE MATERIAL ERRORS, OMISSIONS, OR INACCURACIES IN THE REPORTING OF THE SUBSTANCE OF THE CONFERENCE CALLS . IN NO WAY DOES REFINITIV OR THE APPLICABLE COMPANY ASSUME ANY RESPONSIBILITY FOR ANY INVESTMENT OR OTHER DECISIONS MADE BASED UPON THE INFORMATION PROVIDED ON THIS WEB SITE OR IN ANY EVENT TRANSCRIPT . USERS ARE ADVISED TO REVIEW THE APPLICABLE COMPANY'S CONFERENCE CALL ITSELF AND THE APPLICABLE COMPANY'S SEC FILINGS BEFORE MAKING ANY INVESTMENT OR OTHER DECISIONS .© 2023 , Refinitiv . All Rights Reserved . FEBRUARY 10, 2023 / 1:00PM, MG.TO - Q4 2022 Magna International Inc Earnings Call 18 REFINITIV STREETEVENTS \| www.refinitiv.com \| Contact Us©2023 Refinitiv. All rights reserved. Republication or redistribution of Refinitiv content, including by framing or similar means, is prohibited without the prior written consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies.