Magna Establishes Automatic Share Purchase Plan

AURORA, Ontario, March 29, 2018 (GLOBE NEWSWIRE) -- Magna International Inc. (TSX:MG) (NYSE:MGA) today announced that it has established a pre-defined automatic securities purchase plan (the "Plan") with a designated broker to facilitate the purchase for cancellation of Common Shares under its current normal course issuer bid (the "Bid"). The Plan will be implemented effective April 2, 2018. Under the Plan, Magna has provided instructions and strict parameters regarding how its Common Shares may be purchased for cancellation during times when it would ordinarily not be permitted to purchase Common Shares due to regulatory restrictions or self-imposed black-out periods. We impose regular blackouts during the period commencing at 11:59 p.m. of the last day of each fiscal quarter to and including 48 hours after the public announcement of our quarterly or annual financial results. The Plan will terminate on the earliest of the date on which: (a) the purchase limit specified in the Plan has been reached, (b) we terminate the Plan in accordance with its terms, in which case we will issue a press release confirming such termination, and (c) the Bid terminates.

Under the Bid, which commenced on November 15, 2017 and which terminates on November 14, 2018, we are authorized to purchase for cancellation up to 35,800,000 Common Shares. All such purchases of Common Shares under the Bid may be made: (i) on the Toronto Stock Exchange ("TSX") in accordance with the rules and policies of the TSX, (ii) on the New York Stock Exchange in compliance with Rule 10b-18 under the U.S. Securities Exchange Act of 1934, (iii) on other published markets, and/or (iv) pursuant to private agreements or specific share repurchase programs under issuer bid exemption orders issued by the Ontario Securities Commission. All such purchases are included in computing the number of Common Shares purchased under the Bid. As of March 26, 2018, the Corporation has repurchased 4,191,894 Common Shares under the Bid. 

INVESTOR CONTACT
Louis Tonelli, Vice-President, Investor Relations 
[e-mail]  -  905.726.7035

MEDIA CONTACT 
Tracy Fuerst, Director of Corporate Communications & PR
[e-mail]  -  248.631.5396

OUR BUSINESS ⁽¹⁾

We have more than 168,000 entrepreneurial-minded employees dedicated to delivering mobility solutions. We are a mobility technology company and one of the world's largest automotive suppliers with 335 manufacturing operations and 96 product development, engineering and sales centres in 28 countries. Our competitive capabilities include body exteriors and structures, power and vision technologies, seating systems and complete vehicle solutions. Our common shares trade on the Toronto Stock Exchange (MG) and the New York Stock Exchange (MGA). For further information about Magna, visit www.magna.com.