# EDGAR Filing Document

**Accession Number:** 0000749098
**File Stem:** 0001104659-25-074052
**Filing Date:** 2025-8
**Character Count:** 91279
**Document Hash:** 9beb56a918a3c800b824f7de97028660
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-25-074052.hdr.sgml**: 20250805

**ACCESSION NUMBER**: 0001104659-25-074052

**CONFORMED SUBMISSION TYPE**: S-8

**PUBLIC DOCUMENT COUNT**: 16

**FILED AS OF DATE**: 20250805

**DATE AS OF CHANGE**: 20250805

**EFFECTIVENESS DATE**: 20250805

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MAGNA INTERNATIONAL INC
- **CENTRAL INDEX KEY:** 0000749098
- **STANDARD INDUSTRIAL CLASSIFICATION:** MOTOR VEHICLE PARTS & ACCESSORIES [3714]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 000000000
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** S-8
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-289239
- **FILM NUMBER:** 251183730

**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

**As filed with the Securities and Exchange Commission on August 1, 2025**

**Registration No. 333-** 

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, D.C. 20549**

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**FORM S-8**

**REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933**

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**MAGNA INTERNATIONAL INC.**

**(Exact Name of Registrant as Specified in its Charter)**

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| | |
|:---|:---|
| **Province of Ontario, Canada**<br> **(State or Other Jurisdiction of Incorporation or Organization)** | **Not Applicable**<br> **(I.R.S. Employer Identification No.)** |

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| |
|:---|
| **337 Magna Drive, Aurora** |
| **Ontario, Canada L4G 7K1** |
| **(Address of principal executive offices, including Zip Code)** |

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**Magna International Inc. 2025 Incentive Stock Option Plan**

**(Full Title of the Plan)**

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**Corporation Services Company**

**19 West 44<sup>th</sup> Street, Suite 200 and 201**

**New York, NY 10036 (212)-299-5600<br> (Name, Address, Including Zip Code, and Telephone Number, Including Area Code, of Agent for Service)**

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company" and "emerging growth company" in Rule 12b-2 of the Exchange Act:

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| | | | |
|:---|:---|:---|:---|
| Large accelerated filer | x | Accelerated filer | ¨ |
| Non-accelerated filer | ¨ | Smaller reporting company | ◻ |
|  |  | Emerging growth company | ◻ |

---

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ◻

**EXPLANATORY NOTE**

This Registration Statement relates to the Magna International Inc. 2025 Stock Option Plan (the "Plan"), as well as the offer and sale of the common shares (the "Common Shares") of Magna International Inc. (the "Registrant" or "Corporation") pursuant to the Plan.

**PART I**

**INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS**

The documents containing information specified in Part I (plan information and registrant information) will be sent or given to Plan participants as specified by Rule 428(b)(1). Such documents need not be filed with the Securities and Exchange Commission (the "Commission") either as part of this Registration Statement or as prospectuses or prospectus supplements pursuant to Rule 424. These documents and the documents incorporated by reference in this Registration Statement pursuant to Item 3 of Part II of this Registration Statement taken together constitute a prospectus that meets the requirements of Section 10(a) of the Securities Act of 1933, as amended.

**PART II**

**INFORMATION REQUIRED IN THE REGISTRATION STATEMENT**

Item 3. <u>Incorporation of Documents by Reference.</u>

The Registrant hereby incorporates the following documents herein by reference:

(a) [the Registrant's Annual Report on Form 40-F for the fiscal year ended December 31, 2024, filed with the Commission on March 28, 2025;](https://www.sec.gov/ix?doc=/Archives/edgar/data/749098/000119312525066935/d939990d40f.htm)

(b) All other reports filed by the Registrant pursuant to Section 13(a) or 15(d) of the Securities
Exchange Act of 1934, as amended (the "Exchange Act"), since the end of the fiscal year covered by the Annual Report on Form 40-F
incorporated by reference herein pursuant to (a) above;

(c) [The Annual Report on Form 11-K for the fiscal year ended December 31, 2024, filed with the Commission on June 24, 2025; and](https://www.sec.gov/Archives/edgar/data/749098/000110465925062017/tm2517043d1_11k.htm)

(d) [the description of the Common Shares contained in the Registrant's Current Report on Form 6-K dated January 2, 2018, including any amendments or reports filed for the purpose of updating such description.](https://www.sec.gov/Archives/edgar/data/749098/000110465918000224/a17-27794_46k.htm)

All documents subsequently filed by the Registrant pursuant to Section 13(a), Section 13(c), Section 14 and Section 15(d) of the Securities Exchange Act of 1934, as amended (the "Exchange Act") prior to the filing of a post-effective amendment to this Registration Statement that indicates that all securities offered have been sold or which deregisters all securities then remaining unsold, shall be deemed incorporated herein by reference from the date of filing of such documents. Any statement contained in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement incorporated by reference herein modifies or supersedes such statement. Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.

Item 4. <u>Description of Securities.</u>

Not required.

Item 5. <u>Interests of Named Experts and Counsel</u>.

Certain legal matters with respect to the validity of the Shares registered hereby have been passed upon for the Registrant by Bassem Shakeel, Vice-President, Associate General Counsel and Corporate Secretary of the Registrant. Bassem Shakeel is employed by the Registrant and owns or has rights to acquire an aggregate of less than 1% of the Registrant's Common Shares and is an eligible participant in the Plan.

Item 6. <u>Indemnification of Directors and Officers</u>.

Section 136 of the Business Corporations Act (Ontario) as amended, provides, in part, as follows:

(1) A corporation may indemnify a director or officer of the corporation, a former director or officer of the corporation or another individual who acts or acted at the corporation's request as a director or officer, or an individual acting in a similar capacity, of another entity, against all costs, charges and expenses, including an amount paid to settle an action or satisfy a judgment, reasonably incurred by the individual in respect of any civil, criminal, administrative, investigative or other proceeding in which the individual is involved because of that association with the corporation or other entity; (2) A corporation may advance money to a director, officer or other individual for the costs, charges and expenses of a proceeding referred to in subsection (1), but the individual shall repay the money if the individual does not fulfill the conditions set out in subsection (3); (3) A corporation shall not indemnify an individual under subsection (1) unless the individual acted honestly and in good faith with a view to the best interests of the corporation or, as the case may be, to the best interests of the other entity for which the individual acted as a director or officer or in a similar capacity at the corporation's request; (4) In addition to the conditions set out in subsection (3), if the matter is a criminal or administrative action or proceeding that is enforced by a monetary penalty, the corporation shall not indemnify an individual under subsection (1) unless the individual had reasonable grounds for believing that the individual's conduct was lawful.

**Derivative actions**

(4.1) A corporation may, with the approval of a court, indemnify an individual referred to in subsection (1), or advance moneys under subsection (2), in respect of an action by or on behalf of the corporation or other entity to obtain a judgment in its favour, to which the individual is made a party because of the individual's association with the corporation or other entity as described in subsection (1), against all costs, charges and expenses reasonably incurred by the individual in connection with such action, if the individual fulfils the conditions set out in subsection (3).

**Right to indemnity**

(4.2) Despite subsection (1), an individual referred to in that subsection is entitled to indemnity from the corporation in respect of all costs, charges and expenses reasonably incurred by the individual in connection with the defence of any civil, criminal, administrative, investigative or other proceeding to which the individual is subject because of the individual's association with the corporation or other entity as described in subsection (1), if the individual seeking an indemnity,

(a) was not judged by a court or other competent authority to have committed any fault or omitted to do anything that the individual ought to have done; and

(b) fulfils the conditions set out in subsections (3) and (4).

**Insurance**

(4.3) A corporation may purchase and maintain insurance for the benefit of an individual referred to in subsection (1) against any liability incurred by the individual,

(a) in the individual's capacity as a director or officer of the corporation; or

(b) in the individual's capacity as a director or officer, or a similar capacity, of another entity, if the individual acts or acted in that capacity at the corporation's request.

**Application to court**

(5) A corporation or a person referred to in subsection (1) may apply to the court for an order approving an indemnity under this section and the court may so order and make any further order it thinks fit.

(6) Upon an application under subsection (5), the court may order notice to be given to any interested person and such person is entitled to appear and be heard in person or by counsel.

Section 5 of By-Law No. 1 of the Corporation provides as follows:

**Protection of Directors, Officers and Others**

5.1 Limitation of Liability. No director, officer or employee shall be liable for the acts, receipts, neglects or defaults of any other director, officer or employee, or for joining in any receipt or other act for conformity, or for any loss, damage or expense happening to the Corporation through the insufficiency or deficiency of title to any property acquired for or on behalf of the Corporation, or for the insufficiency or deficiency of any security in or upon which any of the moneys of the Corporation shall be invested, or for any loss or damage arising from the bankruptcy, insolvency or tortious acts of any person with whom any of the moneys, securities or effects of the Corporation shall be invested, or for any loss or damage arising from the bankruptcy, insolvency or tortious acts of any person with whom any of the moneys, securities or effects of the Corporation shall be deposited, or for any loss occasioned by any error in judgment or oversight on his part, or for any other loss, damage or misfortune whatever which shall happen in the execution of the duties of his office or employment or in relation thereto, unless the same are occasioned by his own negligence or wilful default; provided that nothing herein shall relieve any director, officer or employee from the duty to act in accordance with the Act or from liability for any breach thereof.

5.2 Indemnification. The Corporation shall indemnify a director, officer, former director, former officer or a person who acts or acted at the Corporation's request as a director or officer or other similar executive for another body corporate or other organization of which the Corporation is or was a shareholder (or other type of equity-holder) or creditor, and such person's heirs and legal representatives, against all costs, charges and expenses, including an amount paid to settle an action or satisfy a judgment, reasonably incurred by such individual in respect of any civil, criminal or administrative action or proceeding to which such individual is made a party by reason of being or having been a director, officer or other similar executive of such body corporate or other organization, to the full extent permitted by law. The Corporation is authorized to enter into agreements evidencing its indemnity in favour of the foregoing persons to the full extent permitted by law and may purchase and maintain insurance against the risk of its liability to indemnify pursuant to this provision.

The Registrant carries liability insurance which provides for coverage for the Registrant's officers and directors and its subsidiaries, subject to a deductible for executive indemnification. The policy does not provide coverage for losses arising from the breach of fiduciary responsibilities under statutory or common law or from violations of, or the enforcement of, pollutant laws and regulations.

Item 7. <u>Exemption From Registration Claimed</u>.

Not applicable.

Item 8. <u>Exhibits</u>.

The following exhibits are filed as part of this Registration Statement:

[4.1\*](tm2521663d1_ex4-1.htm) [Magna International Inc. 2025 Stock Option Plan.](tm2521663d1_ex4-1.htm)

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| | |
|:---|:---|
| [4.2](https://www.sec.gov/Archives/edgar/data/749098/000110465918000224/a17-27794_4ex99d2.htm) | [Restated Articles of Incorporation of the Registrant (incorporated herein by reference to Exhibit 99.2 of the Registrant's Report of Foreign Private Issuer on Form 6-K furnished to the Commission on January 2, 2018).](https://www.sec.gov/Archives/edgar/data/749098/000110465918000224/a17-27794_4ex99d2.htm) |

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| | |
|:---|:---|
| [4.3](https://www.sec.gov/Archives/edgar/data/749098/000110465916107785/a16-7214_1ex99.htm) | [By-Law No. 1 of the Registrant (incorporated herein by reference to Exhibit 99 of the Registrant's Report of Foreign Private Issuer on Form 6-K furnished to the Commission on March 28, 2016).](https://www.sec.gov/Archives/edgar/data/749098/000110465916107785/a16-7214_1ex99.htm) |

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[5.1\*](tm2521663d1_ex5-1.htm) [Opinion of Bassem Shakeel, Vice-President, Associate General Counsel, and Corporate Secretary of the Registrant.](tm2521663d1_ex5-1.htm)

[23.1\*](tm2521663d1_ex23-1.htm) [Consent of Independent Registered Public Accounting Firm – Deloitte LLP.](tm2521663d1_ex23-1.htm)

[23.2\*](tm2521663d1_ex23-2.htm) [Consent of Independent Registered Public Accounting Firm – GJC CPAs & ADVISORS.](tm2521663d1_ex23-2.htm)

[23.3\*](tm2521663d1_ex5-1.htm) [Consent of Bassem Shakeel, Vice-President, Associate General Counsel and Corporate Secretary of the Registrant (included as part of Exhibit 5.1).](tm2521663d1_ex5-1.htm)

[107\*](tm2521663d1_ex-filingfees.htm) [Filing Fee Table](tm2521663d1_ex-filingfees.htm)

\*Filed herewith.

Item 9. <u>Undertakings</u>.

(a) The undersigned Registrant hereby undertakes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) To file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) To include any prospectus required by Section 10(a)(3) of the Securities Act;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) To reflect in the prospectus any facts or events arising after the effective date of the Registration Statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the Registration Statement. Notwithstanding the foregoing, any increase or decrease in the volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the high or low end of the estimated maximum offering range may be reflected in the form of a prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than a 20% change in the maximum aggregate offering price set forth in the "Calculation of Registration Fee" table in the effective registration statement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) To include any material information with respect to the plan of distribution not previously disclosed in the Registration Statement or any material change to such information in the Registration Statement;

<u>provided</u>, <u>however</u>, that paragraphs (a)(1)(i) and (ii) do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in periodic reports filed by the Registrant pursuant to Section 13 or Section 15(d) of the Exchange Act that are incorporated by reference in the Registration Statement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial <u>bona fide</u> offering thereof; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.

(b) The undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the Registrant's annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act (and where applicable, each filing of an employee benefit plan's annual report pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference in the Registration Statement shall be deemed to be a new Registration Statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial <u>bona fide</u> offering thereof.

(c) Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the Commission such indemnification is against public policy as expressed in the Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Act and will be governed by a final adjudication of such issue.

**SIGNATURES**

Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the Town of Aurora, Province of Ontario, Canada, as of this first day of August, 2025.

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| | |
|:---|:---|
| MAGNA INTERNATIONAL INC.<br> (Registrant) | MAGNA INTERNATIONAL INC.<br> (Registrant) |
| By: | /s/ Bassem Shakeel |
|  | Name: Bassem A. Shakeel |
|  | Title: Vice-President, Associate General Counsel and Corporate Secretary |

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**POWER OF ATTORNEY**

KNOW ALL PERSONS BY THESE PRESENTS that each person whose signature appears below hereby constitutes and appoints Seetarama S. Kotagiri, Patrick W.D. McCann, Bruce R. Cluney and Bassem A. Shakeel, and each of them singly, his or her true and lawful attorney-in-fact and agent with full power of substitution and resubstitution, for him or her and in his or her name, place and stead, in any and all capacities, to sign any and all amendments, including post-effective amendments, to this Registration Statement (any of which amendments may make such changes and additions to this Registration Statement as such attorneys-in-fact may deem necessary or appropriate) and to file the same, with all exhibits thereto, and any other documents that may be required in connection therewith, granting unto said attorneys-in-fact and agents full power and authority to be done in and about the premises, as fully to all intents and purposes as he or she might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents, or their substitutes, may lawfully do or cause to be done by virtue hereof.

Pursuant to the requirements of the Securities Act of 1933, as amended, this Registration Statement has been signed below by the following persons on behalf of the Registrant and in the capacities indicated as of the first day of August, 2025.

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| | |
|:---|:---|
| **Signature** | **Title** |
| /s/ Seetarama S. Kotagiri | President and Chief Executive Officer, Director<br> (Principal Executive Officer) |
| Seetarama S. Kotagiri | President and Chief Executive Officer, Director<br> (Principal Executive Officer) |
| /s/ Patrick W.D. McCann | Executive Vice-President and Chief Financial Officer<br> (Principal Financial Officer and Principal Accounting Officer) |
| Patrick W.D. McCann | Executive Vice-President and Chief Financial Officer<br> (Principal Financial Officer and Principal Accounting Officer) |
| /s/ Robert F. MacLellan | Chairman of the Board |
| Robert F. MacLellan | Chairman of the Board |

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| | |
|:---|:---|
| **Signature** | **Title** |
| /s/ Mary S. Chan | Director |
| Mary S. Chan | Director |
| /s/ Hon. V. Peter Harder | Director |
| Hon. V. Peter Harder | Director |
| /s/ Jan R. Hauser | Director |
| Jan R. Hauser | Director |
| /s/ Jay K. Kunkel | Director |
| Jay K. Kunkel | Director |
| /s/ Mary Lou Maher | Director |
| Mary Lou Maher | Director |
| /s/ William A. Ruh | Director |
| William A. Ruh | Director |
| /s/ Dr. Indira V. Samarasekera | Director |
| Dr. Indira V. Samarasekera | Director |
| /s/ Peter Sklar | Director |
| Peter Sklar | Director |
| /s/ Matthew Tsien | Director |
| Matthew Tsien | Director |
| /s/ Dr. Thomas Weber | Director |
| Dr. Thomas Weber | Director |
| /s/ Lisa S. Westlake | Director |
| Lisa S. Westlake | Director |

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**AUTHORIZED REPRESENTATIVE**

Pursuant to the requirements of Section 6(a) of the Securities Act of 1933, the Authorized Representative has duly caused this Registration Statement to be signed on its behalf by the undersigned, solely in its capacity as the duly authorized representative of Magna International Inc. in the United States, in the Town of Aurora, Province of Ontario, Country of Canada, on the first day of August, 2025.

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| | |
|:---|:---|
| MAGNA INTERNATIONAL OF AMERICA, INC. | MAGNA INTERNATIONAL OF AMERICA, INC. |
| (Authorized Representative) | (Authorized Representative) |
| By: | /s/ Bassem Shakeel |
|  | Name: Bassem A. Shakeel |
|  | Title: Vice-President, Associate General Counsel and Corporate Secretary |

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## Exhibit 4.1

**Exhibit 4.1**

**Magna International Inc. 2025 Incentive Stock Option Plan**

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**MAGNA INTERNATIONAL INC.**

**2025 INCENTIVE STOCK OPTION PLAN**

**March 27, 2025**

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**ARTICLE 1<br> Purpose**

**1.1** **Purposes of this Plan** 

The purposes of this Plan are to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) advance the interests of the Corporation by assisting it in attracting, retaining, motivating and rewarding
key employees and officers of the Corporation and its Subsidiaries;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) motivate Participants to act in the long-term best interests of the Corporation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) align the interests of Participants with those of the Corporation's shareholders.

**ARTICLE 2<br> Interpretation**

**2.1** **Definitions** 

When used herein, unless the context otherwise requires, the following terms have the following meanings, respectively:

"**Blackout Period**" means a period established by the Corporation from time to time in its own discretion during which officers, directors and/or applicable employees the Corporation and its Subsidiaries are prohibited from trading in Shares.

"**Board**" means the board of directors of the Corporation.

"**Change in Control**" means the occurrence of any of the following events:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the completion of a transaction pursuant to which any Person hereafter acquires direct or indirect beneficial
ownership of all the Shares, including in connection with any acquisition, merger, consolidation, arrangement or similar transaction;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the completion, directly or indirectly, in a single transaction or a series of related transactions, of
the sale of all or substantially all the Corporation's assets to a Person other than a Person that was, prior to such sale, a Related
Entity of the Corporation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the dissolution or liquidation of the Corporation, except in connection with the distribution of assets
of the Corporation to one or more Persons that were Related Entities of the Corporation prior to such event; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) any other event which, in the opinion of the Plan Administrator, reasonably constitutes a change in control
of the Corporation.

"**Change in Status**" means the change in an Optionee's relationship with the Corporation or a Subsidiary from that of an Employee Participant to a Consultant Participant, or vice versa.

"**Code**" means the *United States Internal Revenue Code of 1986*, as amended from time to time.

"**Committee**" means the Talent Oversight and Compensation Committee of the Board, including any successor thereto.

"**Consultant Participant**" means an individual, other than an employee of the Corporation or a Subsidiary, who:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) is engaged to provide services to the Corporation or a Subsidiary, other than services provided in relation
to a distribution of securities of the Corporation or a Subsidiary;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) provides the services under a written contract with the Corporation or a Subsidiary, either directly or
indirectly through: (i) a corporation of which the individual is an employee or shareholder; or (ii) a partnership of which
the individual is an employee or partner; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) spends or will spend a significant amount of time and attention on the business and affairs of the Corporation
or a Subsidiary,

and includes where applicable, a Consultant Participant's Permitted Assigns. For greater certainty, Consultant Participants are not eligible to receive new grants of Options, but the Options of an Optionee who changes relationship from an Employee Participant to a Consultant Participant will be treated in the manner set forth in Section 4.7 of this Plan.

"**Corporation**" means Magna International Inc.

"**Disabled**" or "**Disability**" means the permanent and total incapacity of an Optionee as determined in accordance with procedures established by the Plan Administrator for purposes of this Plan.

"**Employee Participant**" means a current full-time, part-time or contract employee (other than a Consultant Participant) of the Corporation or a Subsidiary and includes, where applicable, an Employee Participant's Permitted Assigns.

"**ESL**" means the Canadian provincial employment standards legislation, as amended or replaced, applicable to an Employee Participant.

"**Exercise Notice**" means a written or electronic notice in a form approved by the Plan Administrator from time to time, evidencing the Optionee's intention to exercise a particular Option.

"**Exercise Period**" means the period of time (commencing on the Grant Date) during which an Option granted under this Plan may be exercised in accordance with this Plan.

"**Exercise Price**" means the price at which an Option Share may be purchased pursuant to the exercise of an Option.

"**Fair Market Value**" of a Share as of any date means the closing price of a Share on the immediately preceding trading day on the NYSE.

"**Grant Date**" means the effective date of grant specified by the Plan Administrator at the time it grants an Option; provided, however, that: (a) such date shall not be prior to the date the Plan Administrator acts to grant the Option; and (b) if the Plan Administrator does not specify a date of grant, such date shall be the date on which the Plan Administrator acts to grant an Option.

"**Insider**" means an "insider" as defined in the TSX Company Manual.

"**ISOs**" has the meaning set forth in Section 4.11 of this Plan.

"**NI 45-106**" means *National Instrument 45-106 – Prospectus and Registration Exemptions* of the Canadian Securities Administrators.

"**NYSE**" means The New York Stock Exchange.

"**OBCA**" means the *Business Corporations Act* (Ontario) and the regulations promulgated thereunder.

"**Option**" means a right to purchase Shares under this Plan which is non-assignable and non-transferable unless otherwise approved by the Plan Administrator.

"**Optionee**" means a Participant who has been granted one or more Options.

"**Option Agreement**" means a written or electronic document issued by the Corporation and signed, accepted or acknowledged by an Optionee, in a form approved by the Plan Administrator from time to time, evidencing the terms and conditions on which an Option has been granted under this Plan.

"**Option Shares**" means Shares that shall be issued by the Corporation upon the exercise of outstanding Options.

"**Participants**" means Employee Participants and Consultant Participants, and "Participant" means any one Employee Participant or Consultant Participant.

"**Permitted Assign**" has the meaning ascribed to the term "permitted assign" in NI 45-106.

"**Person**" includes an individual, sole proprietorship, partnership, unincorporated association, unincorporated syndicate, unincorporated organization, trust, body corporate, and a natural person in his or her capacity as trustee, executor, administrator or other legal representative.

"**Plan**" means this Magna International Inc. 2025 Incentive Stock Option Plan, as amended from time to time in accordance with the provisions hereof.

"**Plan Administrator**" means the Board, except to the extent the Board has delegated administration of this Plan to the Committee in the Committee's Charter, by resolution or otherwise.

"**Prior Plan**" means the Corporation's Amended and Restated 2009 Stock Option Plan, approved by shareholders in 2010, as subsequently amended and restated.

"**Related Entity**" has the meaning ascribed to the term "related entity" in NI 45-106.

"**Retirement**" means, in the context of an Employee Participant, retirement from active employment with the Corporation or a Subsidiary on or after: (i) age 60; or (ii) the date on which the sum of the Employee Participant's age plus years of continuous and active employment with the Company or a Subsidiary equals 80.

"**Security Based Compensation Arrangement**" has the meaning ascribed to such term in the TSX Company Manual.

"**Shares**" means the Common Shares in the capital of the Corporation.

"**Subsidiary**" has the same meaning ascribed thereto in the OBCA.

"**Termination Date**" means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) in the case of an Optionee whose employment or engagement with the Corporation or a Subsidiary terminates
(regardless of whether the termination is lawful or unlawful, with or without cause, and whether it is the Optionee or the Company or
a Subsidiary that initiates the termination), the later of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) if and only to the extent required to comply with ESL, the date that is the last day of any minimum statutory
notice period applicable to the Optionee pursuant to the minimum standards of ESL; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the date designated by the Corporation or a Subsidiary, as applicable, as the last day of such Optionee's
employment or engagement with the Corporation or the Subsidiary, as applicable.

Each of (i) and (ii) of the previous sentence will be determined without regard to any period of reasonable notice, contractual notice, severance, or pay in lieu of notice that follows (or is in respect of a period which follows) the last day that the Optionee actually and actively provides services to the Corporation or the Subsidiary as specified in the notice of termination. For the avoidance of any doubt, the parties intend to displace any presumption that the Optionee is entitled to reasonable notice of termination under common law or civil law in connection with the Plan;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) in the case of an Optionee who experiences a Change in Status during the Exercise Period, the termination
date determined in accordance with paragraph (a) above, at the time his or her last such employment or consulting relationship with
the Corporation or a Subsidiary, as applicable, terminates and is not replaced; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) in the case of an Optionee whose employment or consulting relationship with the Corporation or a Subsidiary,
as applicable, terminates in the circumstances set out in Section 4.7(e), the closing date of such sale of a business, business unit
or Subsidiary.

"**TSX**" means the Toronto Stock Exchange.

"**TSX Company Manual**" means the Toronto Stock Exchange Company Manual.

**2.2** **Interpretation** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) This Plan is created under and is to be governed, construed and administered in accordance with the laws
of the Province of Ontario and the laws of Canada applicable therein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Headings of Articles and Sections are inserted for convenience of reference only and do not affect the
construction or interpretation of this Plan **.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Where the word "including" or "includes" is used in this Plan, it means "including
(or includes) without limitation".

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Whenever the Plan Administrator is to exercise discretion in the administration of the terms and conditions
of this Plan, the term "discretion" means the sole and absolute discretion of the Plan Administrator.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) As used herein, the terms "Article", "Section", "Subsection" and "clause"
mean and refer to the specified Article, Section, Subsection and clause of this Plan, respectively.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Words importing the singular include the plural and vice versa, and words importing any gender include
any other gender.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) A reference in this Plan to a statute, rule or regulation refers to that statute, rule or regulation
as it existed as of the date this Plan was approved or last amended by the Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) Unless otherwise specified, all references to money amounts are to U.S. currency.

**ARTICLE 3<br> Plan Administration**

**3.1** **Plan Administration** 

This Plan shall be administered by the Plan Administrator and, subject to the provisions of this Plan, the Plan Administrator has sole and complete authority and discretion to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) determine the Employee Participants to whom Options may be granted;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) grant Options in such amounts and on such terms and conditions as it determines, including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the time or times at which Options may be granted;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) subject to Section 4.2, the Exercise Price thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) the time or times when each Option becomes exercisable and, subject to Section 4.3, the duration
of the Exercise Period;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) whether restrictions or limitations are to be imposed on the Option Shares and the nature of such restrictions
or limitations, if any;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) any acceleration of exercisability or waiver of termination regarding any Option, based on such factors
as the Plan Administrator may determine and applicable law may permit; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) to cancel, amend, adjust or otherwise change any Option under such circumstances as the Plan Administrator
may consider appropriate in accordance with the provisions of this Plan;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) interpret this Plan and adopt, amend, prescribe and rescind administrative guidelines and other rules and
regulations relating to this Plan; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) make all other determinations and take all other actions necessary or advisable for the implementation
and administration of this Plan.

**3.2** **Delegation of Plan Administration** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Plan Administrator shall administer this Plan pursuant to the terms hereof. To the extent permitted
by applicable law, the Board may, from time to time, delegate to the Committee all or any of the powers conferred on the Plan Administrator
pursuant to Section 3.1. In the event of such a delegation, the Committee will exercise the powers delegated to it by the Board in
the manner and on the terms authorized by the Board. Any decision made or action taken by the Committee arising out of or in connection
with the administration or interpretation of this Plan in this context is final, conclusive and binding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The day-to-day administration of this Plan may be delegated to such officers and employees of the Corporation
as the Plan Administrator determines.

**3.3** **Eligibility** 

All Participants are eligible to participate in this Plan, subject to Subsections 4.6(d) and 4.7(f). Eligibility to participate does not confer upon any Participant any right to be granted Options pursuant to this Plan. The extent to which any Employee Participant is entitled to be granted Options pursuant to this Plan shall be determined in the discretion of the Plan Administrator, provided, however, that the number of Shares:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) issued to Insiders of the Corporation, within any one-year period; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) issuable to Insiders of the Corporation, at any time,

under this Plan, or when combined with all the Corporation's other Security-Based Compensation Arrangements, shall not exceed 10% of the total issued and outstanding Shares.

The acquisition of Shares by the Corporation for cancellation shall not constitute non-compliance with this Section 3.3 for any Options outstanding prior to such purchase of shares for cancellation.

**3.4** **Total Shares Subject to Options** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The aggregate number of Shares that may be issued pursuant to the exercise of Options shall not exceed
nine million (9,000,000). No Option may be granted if such grant would have the effect of causing the total number of Shares issuable
upon the exercise of Options to exceed the above-noted total number of Shares reserved for issuance pursuant to this Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) To the extent any Options terminate for any reason prior to exercise in full or are surrendered or cancelled
(in accordance with the terms of this Plan and/or an Option Agreement), the Shares subject to such Options shall be added back to the
number of Shares reserved for issuance under this Plan and such Shares shall again become available for grant under this Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The number of Shares available for issuance pursuant to the exercise of Options granted under the Plan
will not be reduced by:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) any Shares issued by the Corporation through the assumption or substitution of outstanding stock options
from an entity acquired by the Corporation; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) any Shares issued by the Corporation pursuant to an inducement award in accordance with Section 613(c) of
the TSX Company Manual.

**3.5** **Option Agreements** 

All grants of Options under this Plan shall be evidenced by Option Agreements. Such Option Agreements shall be subject to the applicable provisions of this Plan and shall contain such provisions as are required by this Plan and any other provisions that the Plan Administrator may direct.

**3.6** **Non-transferability** 

Subject to Section 4.6 and the rules and policies of the TSX and NYSE (if applicable), as well as applicable law, Options granted under this Plan may only be exercised during the lifetime of the Participant and must be exercised personally. Except to the extent permitted by the Plan Administrator, no assignment or transfer of Options to any Person other than a Permitted Assign, whether voluntary, involuntary, by operation of law or otherwise, vests any interest or right in such Options whatsoever in any assignee or transferee, and immediately upon any assignment or transfer, or any attempt to make the same, such Options shall terminate and be of no further force or effect. If Options have been granted or transferred to a corporation pursuant to this Section 3.6 when such transfer is permitted by such applicable rules, policies and law, such Options shall terminate and be of no further force or effect if at any time the Optionee should cease to beneficially own, directly or indirectly, a majority of the issued and outstanding shares of such corporation.

**ARTICLE 4<br> Grant of Options**

**4.1** **Grant of Options** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Plan Administrator may grant Options to any Employee Participant from time to time, subject to the
provisions of this Plan and such other terms and conditions as the Plan Administrator may prescribe. For greater certainty, no further
Options shall be granted to an Optionee following a Change in Status from Employee Participant to Consultant Participant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Options shall not be granted during a Blackout Period.

**4.2** **Exercise Price** 

The Exercise Price per Option Share purchasable pursuant to an Option shall be:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) no less than the Fair Market Value of a Share on the Grant Date, in the case of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Options which are not granted as ISOs; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Options granted as ISOs, other than as contemplated by Subsection 4.11(d); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) 110% of the Fair Market Value of a Share on the Grant Date, in the case of Options granted as ISOs as
contemplated by Subsection 4.11(d).

**4.3** **Term of Options** 

Subject to any accelerated termination as set forth in this Plan and unless otherwise specified by the Plan Administrator, each Option expires on the seventh (7<sup>th</sup>) anniversary of the Grant Date. Notwithstanding the foregoing sentence, if an Option is due to expire on a date that falls within, or within two business days after the end of, a Blackout Period to which an Optionee is subject, the expiration date of such Option shall be the tenth (10<sup>th</sup>) business day following the expiration of the Blackout Period.

**4.4** **Exercise Period** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Unless otherwise specified by the Plan Administrator at the time of granting an Option and except as otherwise
provided in this Plan, each Option granted pursuant to Subsection 4.1(a) shall vest and be exercisable in instalments as follows:

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Proportion of Option Shares<br> <u>that may be Purchased</u>** | &nbsp;&nbsp;**<u>Exercise Period</u>** |
| &nbsp;&nbsp;1/3 | &nbsp;&nbsp;On the first anniversary of the Grant Date |
| &nbsp;&nbsp;1/3 | &nbsp;&nbsp;On the second anniversary of the Grant Date |
| &nbsp;&nbsp;1/3 | &nbsp;&nbsp;On the third anniversary of the Grant Date |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Except as may otherwise be provided in the Option Agreement and subject to Section 4.9, once an instalment
becomes exercisable, it shall remain exercisable until expiration or termination of the Option. Each Option or instalment may be exercised
at any time or from time to time, in whole or in part, for up to the total number of Option Shares with respect to which it is then exercisable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Subject to the provisions of this Plan and any Option Agreement, Options shall be exercised by means of
a fully completed Exercise Notice delivered to the Corporation.

**4.5** **Payment of Exercise Price** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Exercise Notice must be accompanied by payment in full of the aggregate Exercise Price for the Option
Shares to be purchased, together with all applicable withholding or other taxes required to be collected and remitted by the Corporation
or a Subsidiary, as applicable, to the applicable taxing authority.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) No Option Shares shall be issued or transferred until the full Exercise Price and applicable taxes have
been received by the Corporation. As soon as practicable after receipt of any Exercise Notice and full payment, the Corporation shall
deliver to the Optionee a certificate or certificates representing the Option Shares or otherwise satisfy delivery of the Option Shares
by electronic means.

**4.6** **Accelerated Termination of Options – Death, Disability or Retirement** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) **Death of Optionee:** Upon the death of an Optionee, any Options of such Optionee (whether or not
vested and exercisable) may be exercised by his or her legal representative until the earlier of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the date which is one (1) year from the Optionee's date of death; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the date on which the Exercise Period otherwise would have expired but for acceleration pursuant to this
Section 4.6.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) **Disability or Retirement of Employee:** Where an Optionee's employment with the Corporation
or Subsidiary, as applicable, terminates by reason of Disability or Retirement, any Options of such Optionee (whether or not vested and
exercisable) may be exercised (including by his or her legal representative) until the earlier of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the date which is three (3) years from the Optionee's Termination Date; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the date on which the Exercise Period otherwise would have expired but for acceleration pursuant to this
Section 4.6.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) **Disability or Completion of Service of Consultant:** Where an Optionee's consulting relationship
with the Corporation or a Subsidiary, as applicable, terminates by reason of Disability or completion of service under any applicable
consulting agreement, any Options of the Optionee (whether or not vested and exercisable) may be exercised (including by his or her legal
representative) until the earlier of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the date which is one (1) year from the Optionee's Termination Date; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the date on which the Exercise Period otherwise would have expired but for acceleration pursuant to this
Section 4.6.

**4.7** **Accelerated Termination of Options – Other Termination of Employment or Services** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) **Termination of Employment Without Cause or Voluntary Resignation by Employee:** Where an Optionee's
employment with the Corporation or Subsidiary, as applicable, terminates by reason of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) termination without cause (whether such termination is lawful or unlawful and whether it occurs with or
without any or adequate notice, or with or without compensation in lieu of such notice); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) voluntary resignation by Optionee,

then any vested Options held by such Optionee which are exercisable at the Termination Date continue to be exercisable until the earlier of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) the date that is three (3) months after the Termination Date; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) the date on which the Exercise Period of the particular Option expires,

unless otherwise determined by the Plan Administrator, in its discretion. Any Options held by such Optionee which are not exercisable at the Termination Date immediately expire and shall be cancelled on the Termination Date and the Optionee will not be entitled to any damages or other amounts in respect of such cancelled Options.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) **Termination of Employment With Cause:** Where an Employee Participant's employment is terminated
for cause by the Corporation or Subsidiary, as applicable, then all Options held by such Employee Participant, whether or not vested and
exercisable at the Termination Date, immediately expire and shall be cancelled on the Termination Date, unless otherwise determined by
the Plan Administrator, in its discretion. The Optionee will not be entitled to any damages or other amounts in respect of such cancelled
Options.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) **Termination of Consulting Relationship Without Breach or Termination by Consultant:** Where a Consultant
Participant's consulting relationship is:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) terminated by the Corporation or a Subsidiary, as applicable, for any reason whatsoever other than for
breach (whether or not such termination is effected in compliance with any termination provisions contained in the relevant consulting
agreement); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) voluntarily terminated by the Consultant Participant pursuant to the terms of the consulting agreement,

then any vested Options held by such Consultant Participant which are exercisable at the Termination Date shall continue to be exercisable by such Consultant Participant until the earlier of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) the date that is three (3) months from the Termination Date of such Consultant Participant; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) the date on which the Exercise Period of the particular Option expires,

unless otherwise determined by the Plan Administrator. Any Options held by such Consultant Participant which are not exercisable at the Termination Date immediately expire and are cancelled on such date and the Optionee will not be entitled to any damages or other amounts in respect of such cancelled Options.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) **Termination of Consulting Relationship Due to Breach:** Where a Consultant Participant's consulting
relationship is terminated by the Corporation or Subsidiary, as applicable, for breach of the consulting agreement (whether or not such
termination is effected in compliance with any termination provisions contained in the relevant consulting agreement), then any Options
held by such Consultant Participant, whether or not such Options are exercisable at the Termination Date, immediately expire and are cancelled
on the Termination Date, unless otherwise determined by the Plan Administrator, in its discretion. The Optionee will not be entitled to
any damages or other amounts in respect of such cancelled Options.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) **Termination on Disposition of Business, Business Unit or Subsidiary:** Where the Corporation sells
or otherwise disposes of a business, business unit or Subsidiary, the vested Options which are exercisable at the Termination Date by
an Optionee whose employment or consulting relationship continues with such business, business unit or former Subsidiary immediately following
completion of such sale or disposition, continue to be exercisable until the earlier of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the date which is one (1) year after the Termination Date; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the date on which the Exercise Period otherwise would have expired but for acceleration pursuant to this
Section 4.7,

unless otherwise determined by the Plan Administrator, in its discretion. Any Options held by such Optionee which are not exercisable at the Termination Date immediately expire and shall be cancelled on the Termination Date and the Optionee will not be entitled to any damages or other amounts in respect of such cancelled Options.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) **Cessation of Eligibility:** A Participant's eligibility to receive new grants of Options under
this Plan ceases as of the Termination Date. Except if and as required to comply with applicable minimum requirements contained in ESL,
no Participant is eligible for continued vesting of any Option during any period in which the Participant receives, or claims to be entitled
to receive, any compensatory payments or damages in lieu of notice of termination pursuant to contract, common law or civil law, and no
Participant shall be entitled to any damages or other compensation in respect of any Option that does not vest or is not awarded due to
termination of the Participant's employment or engagement as of the Termination Date. The Plan displaces all common law and civil
law rights the Participant may have or claim to have in respect of any Options, including any right to damages. The foregoing shall apply,
regardless of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the length of the Participant's employment or engagement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the reason for the termination of Participant's employment or engagement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) whether such termination is lawful or unlawful, with or without cause;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) whether it is the Participant or the Corporation or the Subsidiary that initiates the termination; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) any fundamental changes, over time, to the terms and conditions applicable to the Participant's
employment, or engagement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) **Change in Status Alone Does Not Trigger Acceleration of Termination:** The occurrence of a Change
in Status alone does not trigger the accelerated termination of the Exercise Period of any Options. Where the employment or consulting
relationship of an Optionee is terminated following a Change in Status, the applicable accelerated termination provision of Section 4.6
or 4.7 will be applied with reference to the type of relationship the Optionee had with the Corporation or a Subsidiary, as applicable,
on the Termination Date.

**4.8** **Discretion to Permit Exercise** 

Notwithstanding the provisions of Sections 4.6 and 4.7, the Plan Administrator may, in its discretion, at any time prior to or following the events contemplated in such sections, permit the exercise of any or all Options held by the Optionee in the manner and on the terms authorized by the Plan Administrator, provided that the Plan Administrator shall not, in any case, authorize the exercise of an Option beyond the expiration of the Exercise Period (as determined by excluding the impact of Sections 4.6 and 4.7) of the particular Option.

**4.9** **Change in Control** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Notwithstanding anything else in this Plan or any Option Agreement, the Plan Administrator may, without
the consent of any Optionee, take such steps as are necessary or desirable to cause the conversion or exchange of any outstanding Options
into or for options, rights or other securities of substantially equivalent value (or greater value), as determined by the Plan Administrator
in its discretion, in any entity participating in or resulting from a Change in Control.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Upon the Corporation entering into an agreement relating to, or otherwise becoming aware of, a transaction
which, if completed, would result in a Change in Control, the Corporation shall give written notice of the proposed transaction to all
Optionees, together with a description of the effect of such Change in Control on outstanding Options, not less than 10 business days
prior to the closing of the transaction resulting in the Change in Control.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Upon the Corporation entering into an agreement relating to, or otherwise becoming aware of, a transaction
which, if completed, would result in a Change in Control, the Plan Administrator may accelerate the vesting of any or all outstanding
Options to provide that, notwithstanding Section 4.4 or any Option Agreement, such outstanding Options shall be fully vested and
conditionally exercisable upon (or prior to) the completion of the transaction resulting in the Change in Control:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) subject to such specific terms and conditions as may be specified by the Plan Administrator; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) provided that the Plan Administrator shall not authorize the exercise of Options beyond the Expiry Date
of the Options.

In the event the Plan Administrator elects to accelerate the vesting of outstanding Options, then any Options remaining unexercised at the close of business on the business day immediately preceding the closing date of the Change in Control transaction shall terminate and expire upon the completion of the Change in Control transaction. If, for any reason, the Change in Control transaction is not completed, the acceleration of the vesting and conditional exercise of the Options shall be retracted and vesting shall instead revert to that in effect immediately prior to the application of this paragraph by the Plan Administrator.

**4.10** **Conditions of Exercise** 

Each Optionee shall, when requested by the Corporation, sign and deliver all such documents relating to the granting or exercise of Options which the Corporation deems necessary or desirable.

**4.11** **Incentive Stock Options** 

The following provisions shall apply, in addition to the other provisions of this Plan which are not inconsistent therewith, to Options intended to qualify as incentive stock options ("**ISOs**") under Section 422 of the Code:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Options may be granted as ISOs only to individuals who are employees of the Corporation or any present
or future "subsidiary corporation" or "parent corporation" as those terms are defined in Section 424 of the
Code (collectively, **"Related Corporations**") and Options shall not be granted as ISOs to independent contractors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) for purposes of Section 4.6 of the Plan, "Disability" shall mean "permanent and
total disability" as defined in Section 22(e)(3) of the Code;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) if an Optionee ceases to be employed by the Corporation and/or all Related Corporations other than by
reason of death or Disability, Options shall be eligible for treatment as ISOs only if exercised no later than three months following
such termination of employment;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the Exercise Price in respect of Options granted as ISOs to employees who own more than 10% of the combined
voting power of all classes of stock of the Corporation or a Related Corporation (a "**10% Stockholder**") shall be not
less than 110% of the Fair Market Value per Share on the Grant Date and the term of any ISO granted to a 10% Stockholder shall not exceed
five years measured from the Grant Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Options held by an Optionee shall be eligible for treatment as ISOs only if the fair market value (determined
as at the Grant Date) of the Shares with respect to which such Options and all other options intended to qualify as "incentive stock
options" under Section 422 of the Code held by such individual and granted under the Plan or any other plan of a Related Corporation
and which are exercisable for the first time by such individual during any one calendar year does not exceed U.S.$100,000; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) by accepting an Option granted as an ISO under the Plan, each Optionee agrees to notify the Corporation
in writing immediately after such Optionee makes a "Disqualifying Disposition" of any stock acquired pursuant to the exercise
of such ISO; for this purpose, a Disqualifying Disposition is any disposition occurring on or before the later of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the date two years following the date the ISO was granted; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the date one year following the date the ISO was exercised.

**ARTICLE 5<br> Share Capital Adjustments**

**5.1** **General** 

The existence of any Options does not affect in any way the right or power of the Corporation or its shareholders to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) make, authorize or determine any adjustment, recapitalization, reorganization or any other change in the
Corporation's capital structure or its business, or any amalgamation, combination, merger or consolidation involving the Corporation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) create or issue any bonds, debentures, Shares or other securities of the Corporation or to determine the
rights and conditions attaching thereto;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) effect the dissolution or liquidation of the Corporation or any sale or transfer of all or any part of
its assets or business; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) effect any other corporate act or proceeding, whether of a similar character or otherwise, whether or
not any such action referred to in this section would have an adverse effect on this Plan or any Option granted hereunder.

**5.2** **Reorganization and Other Events Affecting the Corporation's Capital** 

Should the Corporation effect a redivision, subdivision, consolidation, recapitalization or any similar transaction to any of the foregoing, or payment of a special dividend or stock dividend (other than a stock dividend that is in lieu of a cash dividend), or should any other change be made in the capitalization of the Corporation, and in the event of an amalgamation, arrangement, consolidation, combination, merger or other reorganization involving the Corporation by exchange of Shares, by sale or lease of assets, spin-off or otherwise (other than a Change in Control), that, in the opinion of the Plan Administrator, would warrant the amendment or replacement of any existing Options in order to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) adjust the number of Shares that may be acquired on the exercise of any outstanding Options;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) modify the Exercise Price of any outstanding Options to preserve proportionately the rights and obligations
of the Optionees;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) provide that the Options shall be exercisable for shares of an entity other than the Corporation; and/or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) make any other change to preserve proportionately the rights and obligations of the Optionees,

the Plan Administrator shall authorize such steps to be taken as may be equitable and appropriate to that end.

**5.3** **Immediate Exercise of Options** 

Where the Plan Administrator determines that the steps described in Section 5.2 would not preserve proportionately the rights and obligations of the Optionees in the circumstances or otherwise determines that it is appropriate, the Plan Administrator may permit the immediate exercise of any outstanding Options that are not otherwise exercisable.

**5.4** **Issue by Corporation of Additional Shares** 

Except as expressly provided in this Article 5, neither the issue by the Corporation of shares of any class or securities convertible into or exchangeable for shares of any class, nor the conversion or exchange of such shares or securities, affects, and no adjustment by reason thereof is to be made with respect to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the number of Shares that may be acquired on the exercise of any outstanding Options; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the Exercise Price of any outstanding Options.

**5.5** **Fractions** 

No fractional Shares shall be issued on the exercise of an Option. Accordingly, if as a result of any adjustment under Section 5.2 an Optionee would become entitled to a fractional Share, the Optionee has the right to acquire only the adjusted number of full Shares, and no payment or other adjustment shall be made with respect to the fractional Shares so disregarded.

**5.6** **Conditions of Exercise** 

The Plan and each Option are subject to the requirement that, if at any time the Plan Administrator determines that the listing, registration or qualification of the Shares subject to such Option upon any securities exchange or under any provincial, state or federal law, or the consent or approval of any governmental body, securities exchange or of the holders of the Shares generally, is necessary or desirable as a condition of or in connection with the granting of such Option or the issue or purchase of Shares thereunder, no such Option may be granted or exercised in whole or in part unless such listing, registration, qualification, consent or approval has been effected or obtained free of any conditions not acceptable to the Plan Administrator. The Optionees shall, to the extent applicable, cooperate with the Corporation in relation to such listing, registration, qualification, consent or other approval and shall have no claim or cause of action against the Corporation or any of its officers or directors as a result of any failure by the Corporation to obtain or to take any steps to obtain any such registration, qualification or approval.

**ARTICLE 6<br> Miscellaneous Provisions**

**6.1** **Legal Requirement** 

The Corporation is not obligated to grant any Options, issue any Shares or other securities, make any payments or take any other action if, in the opinion of the Plan Administrator, such action would constitute a violation by an Optionee or the Corporation of any provision of any applicable statutory or regulatory enactment of any government or government agency or if such action would give rise to any obligation on the part of the Corporation to register as a dealer or to file a prospectus under applicable securities laws (unless the Corporation chooses to comply with such obligation).

**6.2** **Rights of Participant/Optionee** 

No Participant has any claim or right to be granted an Option (including, without limitation, an Option granted in substitution for any Option that has expired pursuant to the terms of this Plan). No Optionee has any rights as a shareholder of the Corporation in respect of Shares issuable on the exercise of rights to acquire Shares under any Option until the issuance to the Optionee of such Shares.

**6.3** **Termination** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Plan shall terminate and, for greater certainty, all unexercised Options shall expire following the
completion of a Change in Control, provided that the Plan Administrator accelerates the vesting of Options pursuant to Section 4.9.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Plan Administrator may terminate this Plan at any time without shareholder approval. The termination
of this Plan shall have no effect on outstanding Options, which shall continue in effect in accordance with their terms and conditions
and the terms and conditions of this Plan.

**6.4** **Participation in this Plan** 

The participation of any Participant in this Plan is entirely voluntary and not obligatory and shall not be interpreted as conferring upon such Participant any rights or privileges other than those rights and privileges expressly provided in this Plan. In particular, participation in this Plan does not constitute a condition of employment or service nor a commitment on the part of the Corporation or any Subsidiary to ensure the continued employment or service of such Participant. The Plan does not provide any guarantee against any loss that may result from fluctuations in the market value of the Shares. The Corporation does not assume responsibility for the personal income or other tax consequences for the Participants and they are advised to consult with their own tax advisors.

**6.5** **Personal Information** 

Each Participant shall provide the Corporation with all information (including personal information, which means any information about an identifiable individual, such as name, home address, phone number, date of birth, taxpayer identification number, position with the Corporation, dates of employment/engagement, spousal status, etc.) required by the Corporation to administer to the Plan (the "**Participant Information**"). Each Participant acknowledges that the Participant Information may be shared with any custodian appointed in respect of the Plan and other third parties such as service providers and affiliates in connection with the administration of the Plan (collectively "**Recipients**"). Recipients may be located in the Participant's jurisdiction of residence or employment, or elsewhere, including the United States or other foreign jurisdictions and the Participant's jurisdiction may have different data privacy laws and protections than the Recipients' jurisdiction(s). Each Participant:

&nbsp;&nbsp;&nbsp;&nbsp;(a) consents to such sharing with Recipients;

&nbsp;&nbsp;&nbsp;&nbsp;(b) authorizes the Corporation to share the Participant Information with Recipients on the Participant's
behalf; and

&nbsp;&nbsp;&nbsp;&nbsp;(c) authorizes such Recipients to receive, possess, use, retain, transfer and otherwise process the Participant
Information, in electronic or other form, on the Corporation's behalf to implement, administer and manage participation in the Plan.

A Participant may, at any time, refuse or withdraw consents by giving written notice in accordance with Section 6.9, and may otherwise contact the Corporation to access, update, rectify and correct inaccuracies in the Participant Information. If a Participant refuses or withdraws the consent, the Corporation may cancel the Participant's participation in the Plan and, in the Board's discretion, the Participant may forfeit any outstanding Options.

**6.6** **Amendments** 

The Board may amend, suspend or discontinue the Plan or any Option at any time without shareholder approval, provided, however, that no such amendment, suspension or discontinuance may, without the consent of the Optionee, alter or impair any Option previously granted to an Optionee under the Plan and shareholder approval shall be required for the following amendments to the Plan or any Option:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) any increase in the number of Shares reserved for issuance under the Plan, except as a result of an event
specified in Section 5.2 of this Plan;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) a reduction in the Exercise Price of an Option (for this purpose, a cancellation or termination of an
Option of a Participant prior to its expiry for the purpose of reissuing Options to the same Participant with a lower Exercise Price within
such time period as may be specified by the TSX from time to time, shall be treated as an amendment to reduce the Exercise Price of an
Option) except for the purpose of maintaining Option value in connection with an event specified in Section 5.2 of this Plan;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) an extension of the term of an Option (other than an extension to 10 business days after the end of a
Blackout Period if the Expiry Date would otherwise fall within, or within two days after the end of a Blackout Period);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) an amendment to the provisions of Section 3.3 to remove or exceed the 10% limit set forth therein;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) an amendment to eligible participants that may permit the introduction of non-employee directors on a
discretionary basis;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) any amendment which would permit Options granted under the Plan to be transferrable or assignable other
than for normal estate settlement purposes; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) this Section 6.6, respecting matters requiring shareholder approval other than the addition of matters
to be subject to shareholder approval.

**6.7** **Corporate Action** 

Nothing contained in this Plan or in an Option shall be construed so as to prevent the Corporation from taking any corporate action deemed by the Corporation to be appropriate or in its best interest, whether or not such action would have an adverse effect on this Plan or any Option, including, with respect to an Option previously granted, any adjustments to the Exercise Price, Exercise Period or number of Option Shares, provided that any such adjustment is required by any securities exchange or applicable securities laws.

**6.8** **U.S. Tax Laws** 

If any provision of this Plan contravenes any regulations or Treasury guidance promulgated under Section 409A of the Code, or could cause the Participant to recognize income for U.S. federal income tax purposes with respect to any Options before such Options are exercised or to be subject to interest and penalties under Section 409A, such provision shall be modified to maintain, to the maximum extent practicable, the original intent of the applicable provision without violating the provisions of Section 409A or causing such income recognition or imposition of interest or penalties. Moreover, any discretionary authority that the Plan Administrator or any delegate thereof may have pursuant to this Plan shall not be applicable to Options that are subject to Section 409A to the extent such discretionary authority will contravene Section 409A.

**6.9** **Notices** 

All written notices to be given by the Optionee to the Corporation shall be delivered personally or by registered mail, postage prepaid, addressed as follows:

Magna International Inc.

337 Magna Drive

Aurora, Ontario L4G 7K1

Attention: Corporate Secretary

Any notice given by the Optionee pursuant to the terms of an Option shall not be effective until actually received during regular business hours by the Corporation at the above address.

**6.10** **Conflicts** 

The terms and conditions of each Option grant are set out in this Plan and the applicable Option Agreement. In the event of a conflict between the provisions of this Plan and the provisions of the applicable Option Agreement, the provisions of the Option Agreement shall govern. In the event of a conflict between the terms and conditions of an Option Agreement and the terms and conditions of an employment or consulting agreement between the Optionee and the Corporation or a Subsidiary, as applicable, the terms and conditions of the Option Agreement shall govern unless the applicable terms of such employment or consulting agreement have been approved by the Board or the Committee.

**6.11** **Compliance with Employment Standards** 

It is understood and agreed that the Plan is subject to all applicable minimum requirements of ESL. The Corporation and its Subsidiaries will comply with all applicable minimum requirements contained in ESL. Accordingly, to the extent that any applicable ESL minimum requirements apply, the Plan shall: (a) not be interpreted as in any way waiving or contracting out of ESL and (b) be interpreted to achieve compliance with ESL. In the event that ESL requires the Corporation or one of its Subsidiaries to provide the Participant with a superior right or entitlement upon termination of the Participant's employment or otherwise ("**Statutory Entitlements**") than provided for under the Plan, then the Corporation or the Subsidiary, as applicable, shall provide the Participant with the Participant's Statutory Entitlements in substitution for the Participant's rights under the Plan. There shall be no presumption of strict interpretation against the Corporation. The Board will exercise its discretion in respect of the Plan in a manner that complies any applicable minimum requirements of ESL.

**6.12** **No Notice of Expiration** 

It is understood and agreed that the Corporation and its directors, officers, employees, attorneys and agents do not have any obligation to notify the Participant prior to the expiration of any Option under this Plan, regardless of whether the Option will expire at the end of its full term or an earlier date related to the termination of the Participant's employment or engagement. The Participant agrees that the Participant has the sole responsibility for monitoring the expiration of any Option and for exercising their Options, if at all, prior to their expiration.

**6.13** **Prior Plan** 

The Prior Plan terminated effective on ratification of this Plan by shareholders, such that no further grants of options or other awards shall be made thereunder. Notwithstanding the foregoing, the termination of the Prior Plan shall have no effect on outstanding options or other awards granted thereunder, all of which shall continue in full force and effect in accordance with their terms and conditions and the terms and conditions of the Prior Plan and the applicable option agreements.

APPROVED BY THE BOARD: March 27, 2025 <br>RATIFIED BY SHAREHOLDERS: May 8, 2025

## Exhibit 5.1

**Exhibit 5.1**

**Opinion of Bassem Shakeel, Vice-President, Associate General Counsel and Corporate Secretary of the Registrant**

August 1, 2025

Magna International Inc.

337 Magna Drive

Aurora, Ontario

L4G 7K1

Ladies and Gentlemen:

**Re: Registration Statement on Form S-8 with respect to the Magna International Inc. 2025 Incentive Stock Option Plan (the "Plan")**

I have examined the Registration Statement on Form S-8 (the "Registration Statement") that is being filed by Magna International Inc. (the "Corporation") with the Securities and Exchange Commission (the "Commission") in connection with the registration under the Securities Act of 1933, as amended (the "Act"), of 9,000,000 Common Shares of the Corporation, without par value (the "Shares"), to be issued under the Plan.

As Vice-President, Associate General Counsel and Corporate Secretary of the Corporation, I am familiar with the Restated Articles of Incorporation and By-Law 1 of the Corporation and with its affairs, including the actions taken by the Corporation in connection with the Plan. I also have examined such other documents and instruments and have made such further investigation as I have deemed necessary or appropriate in connection with this opinion. In my examination, I have assumed the genuineness of all signatures, the legal capacity and competency of all natural persons, the authenticity of all documents submitted to me as originals and the conformity to original documents of all documents submitted to me as copies.

Based upon the foregoing, I am of the opinion that the Shares, when issued pursuant to the terms and conditions set forth in the Plan, will be validly issued, duly authorized, fully paid and non-assessable.

I consent to the filing of this opinion as an exhibit to the Registration Statement, and I further consent to the use of my name wherever appearing in the Registration Statement.

---

| |
|:---|
| Very truly yours, |
| /s/ Bassem A. Shakeel |
| Bassem A. Shakeel |
| Vice-President, Associate General Counsel and Corporate Secretary |

---

## Exhibit 23.1

**Exhibit 23.1**

**Consent of Deloitte LLP**

**Consent of Independent Registered Public Accounting Firm**

We consent to the incorporation by reference in this Registration Statement on Form S-8 of our reports dated February 26, 2025 relating to the financial statements of Magna International Inc. and subsidiaries (the "Company") and the effectiveness of the Company's internal control over financial reporting, appearing in the Company's Annual Report on Form 40-F for the year ended December 31, 2024.

/s/ Deloitte LLP

Chartered Professional Accountants

Licensed Public Accountants

Toronto, Canada

August 1, 2025

## Exhibit 23.2

**Exhibit 23.2**

**<u>CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</u>**

August 1, 2025

To the Pension and Retirement Savings Committee

Magna International of America, Inc.

We consent to the incorporation, by reference in this Registration Statement of Magna International of America, Inc. on Form S-8, of our reports dated June 24, 2025, with respect to the statements of net assets available for benefits of The Magna Group of Companies Retirement Savings Plans (the "Plan") as of December 31, 2024 and 2023, and the related statements of changes in net assets available for benefits for each of the years in the two-year period ended December 31, 2024, which appears in the Plan's Annual Report on Form 11-K for the years ended December 31, 2024 and 2023.

/s/ GJC CPA'S & ADVISORS

Detroit, Michigan

## Ex-Filing

?xml version='1.0' encoding='ASCII'? EX-FILING FEES

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| |
|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Calculation of Filing Fee Tables**  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **S-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; **MAGNA INTERNATIONAL INC**  |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Security Type**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Security Class Title**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Fee Calculation Rule**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Amount Registered**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Proposed Maximum Offering Price Per Unit**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Maximum Aggregate Offering Price**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Fee Rate**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Amount of Registration Fee**  |
| 1 | Equity | Common Shares, without par value | 457(a) | 9000000 | $41.175 | $370575000.00 | 0.0001531 | $56735.03 |
| Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: |  | $370575000.00  |  | $56735.03  |
| Total Fee Offsets:  | Total Fee Offsets:  | Total Fee Offsets:  | Total Fee Offsets:  | Total Fee Offsets:  |  |  |  | $0.00  |
| Net Fee Due:  | Net Fee Due:  | Net Fee Due:  | Net Fee Due:  | Net Fee Due:  |  |  |  | $56735.03  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Offering Note** <br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <sup>1</sup> i) Pursuant to Rule 416(a) promulgated under the Securities Act of 1933, as amended (the "Securities Act"), this Registration Statement shall also cover any additional Common Shares, without par value ("Common Shares"), of Magna International Inc. (the "Company") that become issuable under the Company's 2025 Incentive Stock Option Plan by reason of any stock dividend, stock split, recapitalization or other similar transaction effected without receipt of consideration that increases the number of outstanding Common Shares. ii) The Proposed Maximum Offering Price Per Unit has been calculated pursuant Rule 457(h) of the Securities Act solely for purposes of calculating the registration fee. The Proposed Maximum Offering Price Per Unit for shares available for future grant is the average of the high and low prices for the Registrant's Common Shares as reported on the New York Stock Exchange on July 30, 2025.