Magna’s normal course issuer bid accepted by Toronto Stock Exchange

Magna announced that the Toronto Stock Exchange had accepted its Notice of Intention to Make a Normal Course Issuer Bid. Pursuant to the Notice, Magna may purchase up to 300,000 Magna Common Shares, representing approximately 0.11% of its public float. As at February 1, Magna had 286,780,238 issued and outstanding Common Shares, including a public float of 286,433,600 Common Shares. The primary purposes of the Bid are purchases for cancellation, as well as purchases to fund Magna’s stock-based compensation awards or programs and/or Magna’s obligations to its deferred profit sharing plans. The Bid will commence on February 15, 2024 and will terminate no later than February 14, 2025. Magna’s normal course issuer bid announced in November 2022 for the purchase of up to 28,445,000 Common Shares expired on November 14, 2023. As at the close of trading on November 14, 2023, Magna had purchased 245,904 Common Shares at a weighted-average price of $54.15.