Toggle Innovation menu Innovation Toggle Products Toggle Company menu Company Careers Contact Search Toggle Language Menu Forward Looking Statements Certain statements in this website constitute "forward-looking information" or "forward-looking statements" (collectively, "forward-looking statements"). Any such forward-looking statements are intended to provide information about management's current expectations and plans and may not be appropriate for other purposes. Forward-looking statements may include financial and other projections, as well as statements regarding our future plans, strategic objectives or economic performance, or the assumptions underlying any of the foregoing, and other statements that are not recitations of historical fact. We use words such as "may", "would", "could", "should", "will", "likely", "expect", "anticipate", "believe", "intend", "plan", "aim", "forecast", "outlook", "project", "estimate", "target" and similar expressions suggesting future outcomes or events to identify forward-looking statements. The following table identifies the material forward-looking statements contained in this website, together with the material potential risks that we currently believe could cause actual results to differ materially from such forward-looking statements. Readers and listeners should also consider all of the risk factors which follow below the table: Material Forward-Looking Statement Material Potential Risks Related to Applicable Forward-Looking Statement Impact of the global semiconductor shortage Risks related to OEM actions in response to the semiconductor chip shortage such as unplanned shutdowns of production lines and/or plants; reductions in OEM vehicle production plans; and changes to OEM product mix. These risks include: lower sales; production inefficiencies due to production lines being stopped/restarted unexpectedly based on OEMs' production schedules; premium freight costs to expedite shipments; and/or other unrecoverable costs; skilled labour attraction/retention; price increases from sub-suppliers that have been negatively impacted by production inefficiencies, premium freight costs and/or other costs related to the semiconductor chip shortage Impact of energy shortages Risks related to production shutdowns due to energy shortages/rationing. These risks include: lower sales; higher energy costs; premium freight costs to expedite shipments; and/or other unrecoverable costs; price increases from sub-suppliers that have been negatively impacted by production inefficiencies, premium freight costs and/or other costs related to production shutdowns resulting from energy rationing Impact of supply chain disruptions Risks related to supply chain disruptions, such as magnesium and silicon shortages, include: lower sales; higher commodity costs; production inefficiencies due to production lines being stopped/restarted unexpectedly; premium freight costs to expedite shipments; and/or other unrecoverable costs; price increases from sub-suppliers that have been negatively impacted by production inefficiencies, premium freight costs and/or other costs related to the supply chain shortages Inflationary price increases Commodity cost volatility Increase in our cost structure as a result of our inability to offset inflationary price increases through continuous improvement actions, price increases, adjustments to our own operations or otherwise Price increases or surcharges from sub-suppliers in connection with inflationary pressures they face Skilled labour attraction/retention Light Vehicle Production Light vehicle sales levels Supply disruptions, including as a result of the current semiconductor chip shortage Production allocation decisions by OEMs Total Sales Segment Sales Economic impact of COVID-19 on consumer confidence Supply disruptions, including as a result of a semiconductor chip shortage currently being experienced in the industry Global energy shortages Elevated level of inflation Concentration of sales with six customers Shifts in market shares among vehicles or vehicle segments Shifts in consumer "take rates" for products we sell Adjusted EBIT Margin Segment Adjusted EBIT Margin Net Income Attributable to Magna Same risks as for Total Sales and Segment Sales above Operational underperformance Higher costs incurred to mitigate the risk of supply disruptions, including: materials price increases; higher-priced substitute supplies; premium freight costs to expedite shipments; production inefficiencies due to production lines being stopped/restarted unexpectedly based on customers' production schedules; other unrecoverable costs; and price increases from sub-suppliers that have been negatively impacted by production inefficiencies Price concessions Commodity cost volatility Higher labour costs Tax risks Equity Income Same risks as Adjusted EBIT Margin/Segment Adjusted EBIT Margin/Net Income Attributable to Magna above Risks related to conducting business through joint ventures Free Cash Flow Same risks as for Total Sales/Segment Sales, and Adjusted EBIT Margin/Segment Adjusted EBIT Margin/Net Income Attributable to Magna above Forward-looking statements are based on information currently available to us and are based on assumptions and analyses made by us in light of our experience and our perception of historical trends, current conditions and expected future developments, as well as other factors we believe are appropriate in the circumstances. While we believe we have a reasonable basis for making any such forward-looking statements, they are not a guarantee of future performance or outcomes. In addition to the factors in the table above, whether actual results and developments conform to our expectations and predictions is subject to a number of risks, assumptions and uncertainties, many of which are beyond our control, and the effects of which can be difficult to predict, including, without limitation: Risks Related to the Automotive Industry economic cyclicality; regional production volume declines, including as a result of the COVID-19 pandemic, semiconductor shortage and energy shortages, including in China; intense competition; potential restrictions on free trade; trade disputes/tariffs; Customer and Supplier Related Risks concentration of sales with six customers; emergence of potentially disruptive EV OEMs, including risks related to limited revenues/operating history of new OEM entrants; OEM consolidation and cooperation; shifts in market shares among vehicles or vehicle segments; shifts in consumer "take rates" for products we sell; quarterly sales fluctuations; potential loss of any material purchase orders; a deterioration in the financial condition of our supply base, including as a result of the COVID-19 pandemic; Manufacturing Operational Risks product and new facility launch risks; operational underperformance; restructuring costs; impairment charges; labour disruptions; COVID-19 shutdowns; supply disruptions, including with respect to semiconductor chips; higher costs to mitigate supply disruptions; climate change risks; attraction/retention of skilled labour and leadership succession; IT Security/Cybersecurity Risk IT/Cybersecurity breach; Product Cybersecurity breach; Pricing Risks pricing risk following time of quote; price concessions; commodity cost volatility; declines in scrap steel/aluminum prices; Warranty / Recall Risks costs related to repair or replacement of defective products, including due to a recall; warranty or recall costs that exceed warranty provision or insurance coverage limits; product liability claims; Acquisition Risks competition for strategic acquisition targets; inherent merger and acquisition risks; acquisition integration risk; Other Business Risks risks related to conducting business through joint ventures; our ability to consistently develop and commercialize innovative products or processes; our changing business risk profile as a result of increased investment in electrification and autonomous driving, including: higher R&D and engineering costs, and challenges in quoting for profitable returns on products for which we may not have significant quoting experience; risks of conducting business in foreign markets; fluctuations in relative currency values; tax risks; reduced financial flexibility as a result of an economic shock; changes in credit ratings assigned to us; Legal, Regulatory and Other Risks antitrust risk; legal claims and/or regulatory actions against us; and changes in laws and regulations, including those related to vehicle emissions or made as a result of the COVID-19 pandemic. In evaluating forward-looking statements or forward-looking information, we caution readers and listeners not to place undue reliance on any forward-looking statement. Additionally, readers and listeners should specifically consider the various factors which could cause actual events or results to differ materially from those indicated by such forward-looking statements, including the risks, assumptions and uncertainties above which are: discussed under the "Industry Trends and Risks" heading of our Management's Discussion and Analysis; and set out in our Annual Information Form filed with securities commissions in Canada, our annual report on Form 40-F filed with the United States Securities and Exchange Commission, and subsequent filings. Readers and listeners should also consider discussion of our risk mitigation activities with respect to certain risk factors, which can be also found in our Annual Information Form. 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