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6-K

Magna International Inc (MGA)

6-K 2026-02-13 For: 2026-02-13
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Added on July 04, 2026

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington**,D.C. 20549**

FORM 6-K

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

For the month of February 2026

Commission File Number    001-11444

MAGNA INTERNATIONAL INC.
(Exact Name of Registrant as specified in<br> its Charter)<br><br> <br>****
337 Magna Drive**, Aurora, Ontario, Canada L4G 7K1**
(Address<br> of principal executive office)

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

Form 20-F o                    Form 40-F x

SIGNATURES

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

MAGNA INTERNATIONAL INC.<br><br> <br><br><br> <br>(Registrant)
Date: February 13, 2026
By: /s/ “Bassem Shakeel”
Bassem A. Shakeel,
Vice-President, Associate General Counsel and Corporate Secretary

EXHIBITS

Exhibit 99.1 Press<br> release issued February 13, 2026, in which the Registrant announced its unaudited consolidated<br> financial results for the three months and year ended December 31, 2025, declared an<br> increased fourth quarter dividend, and also announced its 2026 Outlook.
Exhibit 99.2 Q4<br> 2025 Financial Review
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Exhibit 99.1

PRESS<br> RELEASE
MAGNA ANNOUNCES FOURTH QUARTER 2025 RESULTS AND PROVIDES 2026 OUTLOOK
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Fourth Quarter 2025 Highlights^(1)^

Magna delivered solid fourth-quarter results, reflecting disciplined execution, and improved operating performance.

Year-over-year comparison (fourth quarterof 2025 versus fourth quarter of 2024):

· Sales<br> increased 2% to $10.8 billion, despite a 1% decline in global light vehicle production
· Income<br> from operations before income taxes was $114 million, including non-cash impairment charges<br> of $615 million
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· Adjusted<br> EBIT increased 18% to $814 million, with Adjusted EBIT margin expanding 100 basis points<br> to 7.5%
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· Diluted<br> earnings per share was $0.00; Adjusted diluted earnings per share increased 29% to $2.18
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Additional Q4 2025 performance:

· Generated<br> $2.0 billion in cash from operating activities and $1.3 billion in Free Cash Flow
· Ended<br> 2025 with $1.6 billion of cash
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· Increased<br> our quarterly dividend to $0.495 per share, representing the 16^th^ consecutive<br> year of dividend growth
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2026 Outlook Highlights:

Magna expects solid top-line performance and sustained progress toward long-term margin objectives.

· Sales<br>expected to be between $41.9 billion and $43.5 billion
· Adjusted<br>EBIT Margin expected between 6.0% and 6.6%
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· Adjusted<br> diluted EPS expected to be in the range of $6.25 to $7.25
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· Capital<br>spending projected to be between $1.5 billion and $1.6 billion
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· Free<br>Cash Flow anticipated between $1.6 billion and $1.8 billion
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· Intends<br> to repurchase remaining ~22 million shares available under current buyback authorization<br> (NCIB)
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AURORA, Ontario, February 13, 2026 — Magna International Inc. (TSX: MG; NYSE: MGA) today reported financial results for the fourth quarter and year ended December 31, 2025.

“We closed 2025 with a strong fourth quarter, successfully navigating another dynamic year in our industry. Our disciplined execution and commitment to operational excellence enabled us to deliver financial results that were in line with, or exceeded, our February 2025 Outlook across all key metrics. We expanded full-year adjusted EBIT margin by 20 basis points and generated robust Free Cash Flow of $1.9 billion.<br><br> <br><br><br> <br>Our 2026 outlook reflects confidence in our ability to build on this momentum. With capital spending expected to remain below historical levels, we anticipate continued strong Free Cash Flow, which we intend to deploy using our long-standing capital allocation framework, including repurchasing the remaining shares available under our current buyback authorization.”<br><br> <br><br><br> <br>- Swamy Kotagiri, Magna’s Chief Executive Officer
^(1)^ Adjusted EBIT, Adjusted EBIT margin,<br> Adjusted diluted earnings per share, and Free Cash Flow are Non-GAAP financial measures that<br> have no standardized meaning under U.S. GAAP, and as a result may not be comparable to the<br> calculation of similar measures by other companies. Further information and a reconciliation<br> of these Non-GAAP financial measures is included in the back of this press release.
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MAGNA ANNOUNCES FOURTH QUARTER 2025 RESULTS AND 2026 OUTLOOK CONNECT WITH MAGNA 1
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THREE MONTHS<br> ENDED<br><br> DECEMBER 31, YEAR ENDED<br> <br><br> DECEMBER 31,
--- --- --- --- --- --- --- --- --- ---
2025 2024 2025 2024
Reported
Sales $ 10,848 $ 10,628 $ 42,010 $ 42,836
Income from operations<br> before income taxes $ 114 $ 381 $ 1,308 $ 1,542
Net (loss) income<br> attributable to Magna International Inc. $ (1 ) $ 203 $ 829 $ 1,009
Diluted earnings per share $ — $ 0.71 $ 2.93 $ 3.52
Non-GAAP<br> Financial Measures
Adjusted EBIT $ 814 $ 689 $ 2,364 $ 2,329
Adjusted diluted earnings per share $ 2.18 $ 1.69 $ 5.73 $ 5.41
Free Cash Flow $ 1,347 $ 1,031 $ 1,907 $ 1,058
All results are reported in millions of U.S. dollars, except per share figures, which are in U.S. dollars.

THREE MONTHS ENDED DECEMBER 31, 2025

We posted sales of $10.8 billion for the fourth quarter of 2025, an increase of 2% over the fourth quarter of 2024. The higher sales largely reflects:

· higher<br> production on certain ongoing programs, and the launch of new programs, including the Ford<br> Expedition and Lincoln Navigator, Xiaomi YU7, and Jetour Zongheng G700;
· the<br> net strengthening of foreign currencies against the U.S. dollar, which increased reported<br> U.S. dollar sales by $355 million;
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· net<br> customer recoveries to largely recoup higher tariff costs incurred during the year; and
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· higher<br> complete vehicle assembly volumes, primarily due to the launch of the Mercedes-Benz G-Class during<br> the fourth quarter of 2024, partially offset by the end of production of the Jaguar I-Pace<br> and Jaguar E-Pace.
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These factors were partially offset by:

· lower<br> engineering revenue, primarily in our Complete Vehicles segment;
· the<br> end of production of certain programs;
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· net<br> commercial items, which had an unfavourable impact on a year-over-year basis, including a<br> customer resolution for a product-related matter during the fourth quarter of 2025; and
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· net<br> customer price concessions subsequent to the fourth quarter of 2024.
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Adjusted EBIT increased to $814 million for the fourth quarter of 2025 compared to $689 million for the fourth quarter of 2024, primarily due to:

· productivity<br> and efficiency improvements, including the benefit of operational excellence initiatives<br> and prior restructuring actions;
· earnings<br> on higher sales;
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· customer<br> recoveries for tariffs, net of costs incurred;
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· earnings<br> on higher complete vehicle assembly volumes;
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· provisions<br> related to the insolvency of two Chinese OEMs during the fourth quarter of 2024;
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· the<br> net strengthening of foreign currencies against the U.S. dollar, which had a $17 million<br> favourable impact on reported U.S. dollar Adjusted EBIT; and
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· lower<br> investments in research, development and our new mobility business.
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MAGNA ANNOUNCES FOURTH QUARTER 2025 RESULTS AND 2026 OUTLOOK CONNECT WITH MAGNA 2
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These factors were partially offset by:

· net<br> commercial items, which had an unfavourable impact on a year-over-year basis, including a<br> customer resolution for a product-related matter during the fourth quarter of 2025;
· lower<br> income on lower engineering sales, primarily in our Complete Vehicles segment;
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· unfavourable<br> product mix;
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· higher<br> production input costs net of customer recoveries, primarily for certain commodities and<br> labour; and
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· higher<br> employee profit sharing, stock-based compensation, and incentive compensation.
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Income from operations before income taxes declined to $114 million for the fourth quarter of 2025 compared to $381 million in the fourth quarter of 2024, which includes Other expense, net^(2)^ and Amortization of acquired intangible assets totaling $658 million and $256 million in the fourth quarters of 2025 and 2024, respectively. The most significant item in Other expense, net in the fourth quarter of 2025 was a non-cash goodwill and intangible asset impairment charge of $591 million (pre-tax) related to our Electronics reporting unit. The impairment charge was primarily due to lower than expected sales and declines in volume projections, as a result of changing industry dynamics and other factors. The most significant item in Other expense, net in the fourth quarter of 2024 was the positive impact of recognizing $196 million of Fisker deferred revenue in the fourth quarter of 2024 as the associated agreements were cancelled. Excluding Other expense, net and Amortization of acquired intangible assets from both periods, income from operations before income taxes increased $135 million in the fourth quarter of 2025 compared to the fourth quarter of 2024, largely reflecting the increase in Adjusted EBIT.

Net (loss) income attributable to Magna International Inc. was a loss of $1 million for the fourth quarter of 2025 compared to income of $203 million in the fourth quarter of 2024. Excluding Other expense, net, after tax and Amortization of acquired intangibles from both periods, net income attributable to Magna International Inc. was $617 million in the fourth quarter of 2025 compared to $482 million in the fourth quarter of 2024.

Diluted earnings per share were $0.00 in the fourth quarter of 2025, compared to $0.71 in the comparable period. Adjusted diluted earnings per share were $2.18, compared to $1.69 for the fourth quarter of 2024, an increase of 29%. The increase in adjusted diluted earnings per share reflects the impacts of higher adjusted EBIT, lower income attributable to non-controlling interests and a lower share count reflecting share repurchases over the past 12 months.

In the fourth quarter of 2025, we generated cash from operations of $1.98 billion. Free Cash Flow was $1.35 billion in the period.

^(2)^ Other expense, net is comprised<br> of impairment of assets, restructuring activities, loss (gain) on investments, Fisker Inc.<br> ["Fisker"] related impacts, and gain on business combination during the three and<br> twelve months ended December 31, 2025 & 2024. A reconciliation of these Non-GAAP<br> financial measures is included in the back of this press release.
MAGNA ANNOUNCES FOURTH QUARTER 2025 RESULTS AND 2026 OUTLOOK CONNECT WITH MAGNA 3
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YEAR ENDED DECEMBER 31, 2025

We posted sales of $42.0 billion for the year ended December 31, 2025, compared to $42.8 billion for the year ended December 31, 2024. The lower sales largely reflects:

· lower<br> light vehicle production in North America and Europe on certain ongoing programs, and the<br> end of production of certain programs, including the Chevrolet Malibu, Ford Edge, and Ford<br> Escape;
· lower<br> engineering revenue, primarily in our Complete Vehicles segment;
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· net<br> customer price concessions subsequent to 2024;
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· lower<br> complete vehicle assembly volumes, primarily due to the end of production of the Jaguar I-Pace,<br> and Jaguar E-Pace, partially offset by the launch of the Mercedes-Benz G-Class during<br> the fourth quarter of 2024;
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· the<br> divestiture of certain operations in India during 2024, net of acquisitions, which decreased<br> sales by $112 million; and
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· net<br> commercial items, which had an unfavourable impact on a year-over-year basis, including a<br> customer resolution for a product-related matter during the fourth quarter of 2025.
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These factors were partially offset by:

· the<br> launch of new programs during or subsequent to 2024, including the Mercedes-Benz G-Class,<br> GMC Acadia, Chevrolet Traverse & Buick Enclave, Skoda Elroq, Audi A5,<br> Cadillac Vistiq, and BMW 1-Series;
· the<br> net strengthening of foreign currencies against the U.S. dollar, which increased reported<br> U.S. dollar sales by $555 million; and
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· net<br> customer recoveries to largely recoup higher tariff costs incurred during the year.
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Adjusted EBIT increased to $2.4 billion for the year ended December 31, 2025 compared to $2.3 billion for year ended December 31, 2024 primarily due to:

· productivity<br> and efficiency improvements, including the benefit of operational excellence initiatives<br> and prior restructuring actions;
· higher<br> equity income;
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· higher<br> supply chain costs in 2024, due in part to a supplier bankruptcy;
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· lower<br> investments in research, development and our new mobility business; and
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· provisions<br> related to the insolvency of two Chinese OEMs during 2024.
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These factors were partially offset by:

· net<br> commercial items, which had an unfavourable impact on a year-over-year basis, including a<br> customer resolution for a product-related matter during the fourth quarter of 2025;
· reduced<br> earnings on lower sales;
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· unfavourable<br> product mix;
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· higher<br> employee profit sharing, stock-based and incentive compensation;
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· higher<br> production input costs net of customer recoveries, primarily for labour;
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· lower<br> income on lower engineering sales, primarily in our Complete Vehicles segment;
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· higher<br> pre-operating costs incurred at new facilities;
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· higher<br> net tariff costs; and
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· net<br> transactional foreign exchange losses in 2025, compared to net transactional foreign exchange<br> gains in 2024.
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During the year ended December 31, 2025, income from operations before income taxes was $1.31 billion, and net income attributable to Magna International Inc. was $829 million, decreases of $234 million and $180 million, respectively, each compared to the year ended December 31, 2024.

MAGNA ANNOUNCES FOURTH QUARTER 2025 RESULTS AND 2026 OUTLOOK CONNECT WITH MAGNA 4

During the year ended December 31, 2025, diluted earnings per share were $2.93, compared to $3.52 in the year ended December 31, 2024. Adjusted diluted earnings per share were $5.73, compared to $5.41 for the year ended December 31, 2024.

During the year ended December 31, 2025, we generated cash from operations of $3.60 billion. Free Cash Flow for the year was $1.91 billion for the full year.

RETURN OF CAPITAL TO SHAREHOLDERS AND OTHERMATTERS

We paid dividends of $135 million and $544 million for the three months and year ended December 31, 2025, respectively. In addition, we repurchased 1.7 million shares for $86 million and 3.0 million shares for $137 million, respectively, for the three months and year ended December 31, 2025.

Our Board of Directors declared a fourth quarter dividend of $0.495 per Common Share. This represents a 2% higher dividend, and our 16^th^ consecutive year of fourth quarter dividend increases. The dividend is payable on March 13, 2026 to shareholders of record as of the close of business on February 27, 2026.

MAGNA ANNOUNCES FOURTH QUARTER 2025 RESULTS AND 2026 OUTLOOK CONNECT WITH MAGNA 5

2026 OUTLOOK

Our full year Outlook for 2026 is provided annually, with quarterly updates. It does not incorporate any potential changes in tariff rates, or any material unannounced acquisitions or divestitures.

2026 Macro Assumptions

2026
Light<br> Vehicle Production (millions of units)
North America 15.0
Europe 16.8
China 32.0
Average Foreign<br> exchange rates:
1 Canadian dollar equals U.S. $0.72
1 euro equals U.S. $1.16

2026 Outlook

2026
Segment<br> Sales
Body Exteriors & Structures $16.6 - $17.2 billion
Power & Vision $15.9 - $16.3 billion
Seating Systems $5.4 - $5.7 billion
Complete Vehicles $4.4 - $4.7 billion
Total Sales $41.9 - $43.5 billion
Adjusted<br> EBIT Margin^(3)^ 6.0% - 6.6%
Adjusted<br> diluted earnings per share (EPS)^(4)^ $6.25 - $7.25
Free<br> Cash Flow^(5)^ $1.6 - $1.8 billion
Capital Spending $1.5 - $1.6 billion
Equity Income (included in EBIT) $160 - $195 million
Interest Expense, net Approximately $180 million
Income<br> Tax Rate^(6)^ Approximately 23%
Weighted average diluted shares outstanding Approximately 270 million

Notes:

^(3)^ Adjusted EBIT<br> Margin is the ratio of Adjusted EBIT to Total Sales. Refer to the reconciliation of Non-GAAP<br> financial measures in the back of this press release for further information.
^(4)^ Adjusted diluted<br> EPS represents Adjusted Net Income attributable to Magna divided by the Diluted weighted<br> average number of Common Shares outstanding during the period.
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^(5)^ Refer to the<br> reconciliation of Non-GAAP financial measures in the back of this press release for further<br> information on Free Cash Flow.
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^(6)^ The Income<br> Tax Rate has been calculated using Adjusted EBIT and is based on current tax legislation.
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MAGNA ANNOUNCES FOURTH QUARTER 2025 RESULTS AND 2026 OUTLOOK CONNECT WITH MAGNA 6
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Our Outlook is intended to provide information about management's current expectations and plans and may not be appropriate for other purposes. Although considered reasonable by Magna as of the date of this document, the 2026 Outlook above and the underlying assumptions may prove to be inaccurate. Accordingly, our actual results could differ materially from our expectations as set forth herein. The risks identified in the “Forward-Looking Statements” section below represent the primary factors which we believe could cause actual results to differ materially from our expectations.

KEY DRIVERS OF OUR BUSINESS

Our business and operating results are dependent on light vehicle production by our customers in three key regions – North America, Europe, and China. While we supply systems and components to many OEMs globally, we do not supply systems and components for every vehicle, nor is the value of our content consistent from one vehicle to the next. As a result, customer and program mix relative to market trends, as well as the value of our content on specific vehicle production programs, are also important drivers of our results.

Ordinarily, OEM production volumes are aligned with vehicle sales levels and thus affected by changes in such levels. Aside from vehicle sales levels, production volumes are typically impacted by a range of factors, including: certain geopolitical factors, such as free trade arrangements and tariffs; OEM, supplier or sub-supplier disruptions; relative currency values; commodities prices; supply chains and infrastructure; labour disruptions and the availability and relative cost of skilled labour; regulatory frameworks; and other factors.

Overall vehicle sales levels are significantly affected by changes in consumer confidence levels, which may in turn be impacted by consumer perceptions and general trends related to the job, housing, and stock markets, as well as other macroeconomic and political factors. Other factors which typically impact vehicle sales levels and thus production volumes include: vehicle affordability; interest rates and/or availability of credit; fuel and energy prices; relative currency values; considerations applicable to EVs, including EV range, charging infrastructure, and electricity pricing; and other factors.

MAGNA ANNOUNCES FOURTH QUARTER 2025 RESULTS AND 2026 OUTLOOK CONNECT WITH MAGNA 7

Segment Analysis

[All amounts in U.S. dollars and all tabular amounts in millionsunless otherwise noted]

Body Exteriors & Structures

For the three<br> months
ended<br> December 31,
2025 2024 Change
Sales $ 4,252 $ 4,067 $ 185 +<br> 5 %
Adjusted<br> EBIT $ 465 $ 371 $ 94 +<br> 25 %
Adjusted<br> EBIT as a percentage of sales ^(i)^ 10.9 % 9.1 % +<br> 1.8 %
(i) Adjusted EBIT as a percentage of sales is calculated as Adjusted EBIT divided by Sales.
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Sales for Body Exteriors & Structures increased 5%, or $185 million, to $4.25 billion for the fourth quarter of 2025, compared to $4.07 billion for the fourth quarter of 2024 primarily due to:

· the<br> net strengthening of foreign currencies against the U.S. dollar, which increased reported<br> U.S. dollar sales by $88 million;
· higher<br> production on certain ongoing programs, and the launch of new programs, including the Ford<br> Expedition and Lincoln Navigator, Audi Q6, and BMW X3; and
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· net<br> customer recoveries to largely recoup higher tariff costs incurred during the year.
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These factors were partially offset by:

· the<br> end of production of certain programs, including the Chevrolet Malibu; and
· net<br> customer price concessions subsequent to the fourth quarter of 2024.
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Adjusted EBIT increased $94 million to $465 million for the fourth quarter of 2025 compared to $371 million in the fourth quarter of 2024 and Adjusted EBIT as a percentage of sales increased to 10.9% from 9.1%. These increases were primarily due to:

· productivity<br> and efficiency improvements, including the benefit of operational excellence initiatives<br> and prior restructuring actions;
· earnings<br> on higher sales;
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· provisions<br> related to the insolvency of two Chinese OEMs during the fourth quarter of 2024;
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· the<br> net strengthening of foreign currencies against the U.S. dollar, which had a $7 million favourable<br> impact on reported U.S. dollar Adjusted EBIT;
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· higher<br> tooling contribution;
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· higher<br> supply chain costs in 2024, due in part to a supplier bankruptcy; and
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· customer<br> recoveries for tariffs, net of costs incurred.
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These were partially offset by:

· higher<br> production input costs net of customer recoveries, primarily for certain commodities and<br> labour;
· net<br> transactional foreign exchange losses in the fourth quarter of 2025, compared to net transactional<br> foreign exchange gains in the fourth quarter of 2024;
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· higher<br> pre-operating costs incurred at new facilities; and
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· unfavourable<br> product mix.
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MAGNA ANNOUNCES FOURTH QUARTER 2025 RESULTS AND 2026 OUTLOOK CONNECT WITH MAGNA 8
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Power & Vision

For the three<br> months
ended<br> December 31,
2025 2024 Change
Sales $ 3,841 $ 3,786 $ 55 +<br> 1 %
Adjusted<br> EBIT $ 166 $ 235 $ (69 ) -<br> 29 %
Adjusted<br> EBIT as a percentage of sales 4.3 % 6.2 % -<br> 1.9 %

Sales for Power & Vision increased 1%, or $55 million, to $3.84 billion for the fourth quarter of 2025, compared to $3.79 billion for the fourth quarter of 2024 primarily due to:

· higher<br> production on certain ongoing programs, and the launch of new programs, including the Xiaomi<br> YU7, Jetour Zongheng G700, and Subaru Forester;
· the<br> net strengthening of foreign currencies against the U.S. dollar, which increased reported<br> U.S. dollar sales by $139 million; and
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· net<br> customer recoveries to largely recoup higher tariff costs incurred during the year.
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These factors were partially offset by:

· net<br> commercial items, which had an unfavourable impact on a year-over-year basis, including a<br> customer resolution for a product-related matter during the fourth quarter of 2025;
· the<br> end of production of certain programs, including the Subaru Legacy, and Porsche 718; and
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· net<br> customer price concessions subsequent to the fourth quarter of 2024.
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Adjusted EBIT decreased $69 million to $166 million for the fourth quarter of 2025 compared to $235 million for the fourth quarter of 2024 and Adjusted EBIT as a percentage of sales decreased to 4.3% from 6.2%. These decreases were primarily due to:

· net<br> commercial items, which had an unfavourable impact on a year-over-year basis, including a<br> customer resolution for a product-related matter during the fourth quarter of 2025;
· higher<br> net warranty costs of $36 million;
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· higher<br> production input costs net of customer recoveries, primarily for certain commodities; and
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· unfavourable<br> product mix.
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These were partially offset by:

· productivity<br> and efficiency improvements, including the benefit of operational excellence initiatives<br> and prior restructuring actions;
· customer<br> recoveries for tariffs, net of costs incurred;
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· earnings<br> on higher sales; and
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· higher<br> equity income.
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MAGNA ANNOUNCES FOURTH QUARTER 2025 RESULTS AND 2026 OUTLOOK CONNECT WITH MAGNA 9
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Seating Systems

For the three<br> months
ended<br> December 31,
2025 2024 Change
Sales $ 1,633 $ 1,511 $ 122 +<br> 8 %
Adjusted<br> EBIT $ 136 $ 67 $ 69 +<br> 103 %
Adjusted<br> EBIT as a percentage of sales 8.3 % 4.4 % +<br> 3.9 %

Sales for Seating Systems increased 8%, or $122 million, to $1.63 billion for the fourth quarter of 2025, compared to $1.51 billion for the fourth quarter of 2024 primarily due to:

· the<br> launch of programs during or subsequent to the fourth quarter of 2024, including the Ford<br> Expedition and Lincoln Navigator, and Changan Deepal S09;
· net<br> customer recoveries to largely recoup higher tariff costs incurred during the year; and
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· the<br> net strengthening of foreign currencies against the U.S. dollar, which increased reported<br> U.S. dollar sales by $37 million.
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These factors were partially offset by lower production and end of production of certain programs.

Adjusted EBIT increased $69 million to $136 million for the fourth quarter of 2025 compared to $67 million for the fourth quarter of 2024 and Adjusted EBIT as a percentage of sales increased to 8.3% from 4.4%. These increases were primarily due to:

· productivity<br> and efficiency improvements, including the benefit of operational excellence initiatives<br> and prior restructuring actions;
· lower<br> net warranty costs of $27 million;
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· customer<br> recoveries for tariffs, net of costs incurred;
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· provisions<br> related to the insolvency of a Chinese OEM during the fourth quarter of 2024; and
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· earnings<br> on higher sales.
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These were partially offset by:

· higher<br> restructuring costs;
· net<br> commercial items, which had an unfavourable impact on a year-over-year basis;
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· lower<br> tooling contribution;
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· higher<br> production input costs net of customer recoveries, primarily relating to labour;
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· lower<br> equity income; and
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· higher<br> launch costs.
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MAGNA ANNOUNCES FOURTH QUARTER 2025 RESULTS AND 2026 OUTLOOK CONNECT WITH MAGNA 10
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Complete Vehicles

For the three<br> months
ended<br> December 31,
2025 2024 Change
Complete<br> Vehicle Assembly Volumes (thousands of units) 22.5 15.6 6.9 +<br> 44 %
Sales $ 1,261 $ 1,402 $ (141 ) -<br> 10 %
Adjusted<br> EBIT $ 50 $ 56 $ (6 ) -<br> 11 %
Adjusted<br> EBIT as a percentage of sales 4.0 % 4.0 % —

Sales decreased 10%, or $141 million, to $1.26 billion for the fourth quarter of 2025, compared to $1.40 billion for the fourth quarter of 2024, while complete vehicle assembly volumes increased 44%. The increase in volume was primarily due to higher volumes with value-added contractual arrangements as opposed to full-costed contractual arrangements. The decrease in sales is primarily a result of:

· lower<br> engineering revenue;
· the<br> end of production of the Jaguar I-Pace and Jaguar E-Pace; and
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· net<br> commercial items, which had an unfavourable impact on a year-over-year basis.
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These factors were partially offset by:

· higher<br> complete vehicle assembly volumes including the launch of the Mercedes-Benz G-Class during<br> fourth quarter of 2024; and
· a<br> $100 million increase in reported U.S. dollar sales as a result of the strengthening of the<br> euro against the U.S. dollar.
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Adjusted EBIT decreased $6 million to $50 million for the fourth quarter of 2025 compared to $56 million for the fourth quarter of 2024 and Adjusted EBIT as a percentage of sales was 4.0% in both periods. Factors decreasing Adjusted EBIT and Adjusted EBIT as a percentage of sales included:

· lower<br> income on lower engineering sales; and
· net<br> commercial items, which had an unfavourable impact on a year-over-year basis.
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These factors were partially offset by:

· earnings<br> on higher complete vehicle assembly volumes;
· lower<br> production input costs net of customer recoveries, primarily relating to labour; and
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· productivity<br> and efficiency improvements, including the benefit of operational excellence and prior restructuring<br> actions.
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Corporate and Other

Adjusted EBIT was a loss of $3 million for the fourth quarter of 2025 compared to a loss of $40 million for the fourth quarter of 2024. The $37 million improvement was primarily the result of:

· lower<br> investments in research, development and our new mobility business;
· an<br> increase in fees received from our divisions;
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· lower<br> restructuring costs;
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· lower<br> labour and benefit costs;
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· higher<br> net transactional foreign exchange gains; and
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· lower<br> consulting and legal costs.
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These factors were partially offset by higher stock-based compensation.

MAGNA ANNOUNCES FOURTH QUARTER 2025 RESULTS AND 2026 OUTLOOK CONNECT WITH MAGNA 11

MAGNA INTERNATIONAL INC.

CONSOLIDATED STATEMENTS OF INCOME

[Unaudited]

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

Three months<br> ended Year ended
December 31, December 31,
2025 2024 2025 2024
Sales $ 10,848 $ 10,628 $ 42,010 $ 42,836
Costs and expenses
Cost<br> of goods sold 9,094 9,073 36,021 37,037
Selling,<br> general and administrative 586 535 2,221 2,061
Depreciation 401 376 1,547 1,510
Amortization<br> of acquired intangible assets 29 28 111 112
Interest<br> expense, net 42 52 209 211
Equity<br> income (47 ) (45 ) (143 ) (101 )
Other<br> expense, net ^[i]^ 629 228 736 464
Income from operations before<br> income taxes 114 381 1,308 1,542
Income<br> taxes 111 147 425 446
Net income 3 234 883 1,096
Income<br> attributable to non-controlling interests (4 ) (31 ) (54 ) (87 )
Net<br> (loss) income attributable to Magna International Inc. $ (1 ) $ 203 $ 829 $ 1,009
Earnings per Common Share:
Basic $ — $ 0.71 $ 2.94 $ 3.52
Diluted $ — $ 0.71 $ 2.93 $ 3.52
Cash<br> dividends paid per Common Share $ 0.485 $ 0.475 $ 1.940 $ 1.900
Weighted<br> average number of Common Shares outstanding during the period [in millions]:
Basic 281.2 285.9 281.7 286.8
Diluted 281.2 285.9 282.5 286.9

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

MAGNA ANNOUNCES FOURTH QUARTER 2025 RESULTS AND 2026 OUTLOOK CONNECT WITH MAGNA 12

MAGNA INTERNATIONAL INC.

CONSOLIDATED BALANCE SHEETS

[Unaudited]

[U.S. dollars in millions]

As at As<br> at
December 31, December 31,
2025 2024
ASSETS
Current assets
Cash and cash equivalents $ 1,612 $ 1,247
Accounts receivable 7,593 7,376
Inventories 4,126 4,151
Prepaid<br> expenses and other 407 344
13,738 13,118
Investments 1,103 1,045
Fixed assets, net 9,507 9,584
Operating lease right-of-use<br> assets 1,928 1,941
Intangible assets, net 490 738
Goodwill 2,512 2,674
Other assets 1,275 1,120
Deferred<br> tax assets 864 819
$ 31,417 $ 31,039
LIABILITIES AND SHAREHOLDERS'<br> EQUITY
Current<br> liabilities
Short-term<br> borrowings $ — $ 271
Long-term<br> debt due within one year 27 708
Accounts<br> payable 6,895 7,194
Other accrued<br> liabilities 2,745 2,572
Accrued<br> salaries and wages 888 867
Income<br> taxes payable 106 192
Current<br> portion of operating lease liabilities 328 293
10,989 12,097
Long-term debt 4,685 4,134
Operating lease liabilities 1,649 1,662
Long-term employee benefit liabilities 554 533
Other long-term liabilities 399 396
Deferred<br> tax liabilities 302 277
18,578 19,099
Shareholders' equity
Common Shares [issued: 280,242,006; December 31,<br> 2024 – 282,875,928] 3,352 3,359
Contributed surplus 142 149
Retained earnings 9,765 9,598
Accumulated<br> other comprehensive loss (766 ) (1,584 )
12,493 11,522
Non-controlling<br> interests 346 418
12,839 11,940
$ 31,417 $ 31,039
MAGNA ANNOUNCES FOURTH QUARTER 2025 RESULTS AND 2026 OUTLOOK CONNECT WITH MAGNA 13
--- --- ---

MAGNA INTERNATIONAL INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

[Unaudited]

[U.S. dollars in millions]

Three months<br> ended Year ended
December 31, December 31,
2025 2024 2025 2024
Cash provided from (used<br> for):
OPERATING ACTIVITIES
Net income $ 3 $ 234 $ 883 $ 1,096
Items<br> not involving current cash flows 1,152 662 2,368 1,857
1,155 896 3,251 2,953
Changes<br> in operating assets and liabilities 827 1,014 347 681
Cash<br> provided from operating activities 1,982 1,910 3,598 3,634
INVESTING ACTIVITIES
Fixed asset additions (532 ) (709 ) (1,313 ) (2,178 )
Acquisitions — — (1 ) (86 )
Increase in investments, other<br> assets and intangible assets (157 ) (207 ) (499 ) (617 )
(Increase) decrease in public<br> and private equity investments (2 ) 10 (8 ) (12 )
Proceeds<br> from dispositions 54 37 121 219
Net<br> cash inflow from disposal of facilities — — — 82
Cash<br> used for investing activities (637 ) (869 ) (1,700 ) (2,592 )
FINANCING ACTIVITIES
Issues<br> of debt 1 11 1,048 778
Decrease in short-term borrowings (437 ) (506 ) (318 ) (182 )
Repayments of debt (311 ) (18 ) (1,397 ) (815 )
Issue<br> of Common Shares on exercise of stock options 2 — 2 30
Tax<br> withholdings on vesting of equity awards (1 ) (3 ) (5 ) (8 )
Repurchase<br> of Common Shares (86 ) (202 ) (137 ) (207 )
Dividends (135 ) (133 ) (544 ) (539 )
Dividends<br> paid to non-controlling interests (19 ) (10 ) (59 ) (46 )
Acquisition<br> of non-controlling interest (82 ) — (122 ) —
Cash<br> used for financing activities (1,068 ) (861 ) (1,532 ) (989 )
Effect<br> of exchange rate changes on cash and cash equivalents 8 6 (1 ) (4 )
Net increase in cash, cash equivalents<br> during the period 285 186 365 49
Cash and<br> cash equivalents, beginning of period 1,327 1,061 1,247 1,198
Cash<br> and cash equivalents, end of period $ 1,612 $ 1,247 $ 1,612 $ 1,247
MAGNA ANNOUNCES FOURTH QUARTER 2025 RESULTS AND 2026 OUTLOOK CONNECT WITH MAGNA 14
--- --- ---

MAGNA INTERNATIONAL INC.

SUPPLEMENTAL DATA

[Unaudited]

[All amounts in U.S. dollarsand all tabular amounts in millions unless otherwise noted]

OTHER EXPENSE, NET

Other expense, net consists of significant items such as: impairment charges; restructuring costs generally related to significant plant closures or consolidations; net losses (gains) on investments; gains or losses on disposal of facilities or businesses; and other items not reflective of ongoing operating profit or loss. For the years ended December 31, 2025 and 2024, Other expense, net consists of:

Three months<br> ended Year ended
December 31, December 31,
2025 2024 2025 2024
Impairment of assets [a] $ 615 $ 79 $ 615 $ 79
Restructuring activities [b] 15 94 118 187
Investments [c] (1 ) 3 3 9
Impacts related to Fisker Inc.<br> [“Fisker”] [d] — 52 — 198
Gain on<br> business combination [e] — — — (9 )
$ 629 $ 228 $ 736 $ 464
[a] Impairment of assets
--- ---

During 2025, the Company concluded that indicators of impairment were present for finite-lived intangible assets and goodwill in the Electronics reporting unit within the Power & Vision segment. The conclusion was based on lower than expected sales and reduced volume projections, reflecting slower growth relative to expectations. Contributing factors include OEM delays in sourcing cycles as they reassess vehicle architectures, as well as a change in market dynamics in China. Accordingly, the Company undertook impairment analyses to determine the fair value of the finite-lived intangible assets and goodwill utilizing estimated discounted cash flows to derive fair values. Based on the analyses, the carrying value of the reporting unit’s finite-lived intangible assets exceeded fair value by $212 million, and the carrying value of net assets exceeded the fair value of the reporting unit by $379 million. As a result, the Company recorded a $591 million [$554 million after tax] non-cash impairment charge. The finite-lived intangible asset impairment charges included $158 million related to patents and technology, and $54 million related to customer relationship intangibles. The inputs utilized in the analyses are classified as Level 3 inputs within the fair value hierarchy as defined in ASC 820, "Fair Value Measurement" and primarily consist of expected revenues and costs, estimated production volumes, future growth rates and the appropriate discount rates (based on weighted average cost of capital).

During 2025, the Company also recorded an impairment charge of $24 million [$24 million after tax] on fixed assets and other assets at a European facility in its Body Exteriors & Structures segment.

During 2024, the Company recorded an impairment charge of $79 million [$79 million after tax] on fixed assets, right of use assets and intangible assets at two European facilities in its Power & Vision segment.

MAGNA ANNOUNCES FOURTH QUARTER 2025 RESULTS AND 2026 OUTLOOK CONNECT WITH MAGNA 15

MAGNA INTERNATIONAL INC.

SUPPLEMENTAL DATA

[Unaudited]

[All amounts in U.S. dollarsand all tabular amounts in millions unless otherwise noted]

OTHER EXPENSE, NET (CONTINUED)

[b] Restructuring activities

The Company recorded restructuring charges related to significant plant closures and consolidations primarily in Europe and to a lesser extent in North America and Asia Pacific.

Three months<br> ended Year ended
December 31, December 31,
2025 2024 2025 2024
Complete<br> Vehicles $ 13 $ 29 $ 58 $ 55
Body<br> Exteriors & Structures 9 16 9 28
Power &<br> Vision (7 ) 49 51 104
Other<br> expense, net 15 94 118 187
Tax<br> effect — (12 ) (4 ) (28 )
Net<br> loss attributable to Magna $ 15 $ 82 $ 114 $ 159
[c] Investments
--- ---
Three months<br> ended Year ended
--- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- ---
December 31, December 31,
2025 2024 2025 2024
Net<br> revaluation of public and private equity investments $ (1 ) $ 1 $ (4 ) $ 13
Non-cash<br> impairment charge ^[i]^ — 13 2 13
Revaluation<br> (gain) loss on public company warrants — (11 ) 8 (17 )
Sale<br> of public equity investments — — (3 ) —
Other<br> (income) expense, net (1 ) 3 3 9
Tax<br> effect — 3 1 3
Net<br> (gain) loss attributable to Magna $ (1 ) $ 6 $ 4 $ 12
^[i]^ The non-cash impairment charge<br> relates to the impairment of a private equity investment.
--- ---
MAGNA ANNOUNCES FOURTH QUARTER 2025 RESULTS AND 2026 OUTLOOK CONNECT WITH MAGNA 16
--- --- ---

MAGNA INTERNATIONAL INC.

SUPPLEMENTAL DATA

[Unaudited]

[All amounts in U.S. dollarsand all tabular amounts in millions unless otherwise noted]

OTHER EXPENSE, NET (CONTINUED)

[d] Impacts related to Fisker

During 2024, Fisker filed for Chapter 11 bankruptcy protection in the United States and for similar protection in Austria. As a result, the Company recorded impairment charges on its Fisker related net assets and supplier related settlements, including its Fisker warrants, which were received in connection with the agreements with Fisker for platform sharing, engineering and manufacturing of the Fisker Ocean SUV. The Company also recorded additional restructuring charges during 2024 related to its Fisker related assembly operations. In the course of such bankruptcy proceedings, the Company terminated its manufacturing agreement for the Fisker Ocean SUV and recognized the remaining $196 million of deferred revenue into income.

Three months<br> ended Year ended
December 31, December 31,
2025 2024 2025 2024
Impairment<br> and supplier related settlements $ — $ 43 $ — $ 330
Impairment<br> of Fisker Warrants — — — 33
Additional<br> restructuring related to Complete Vehicles — 9 — 31
Recognition<br> of deferred revenue — — — (196 )
Other<br> expense, net — 52 — 198
Tax<br> effect — (13 ) — (37 )
Net<br> loss attributable to Magna $ — $ 39 $ — $ 161
[e] Gain on business combination
--- ---

During 2024, the Company acquired a business in the Body Exteriors & Structures segment for $5 million, which resulted in a bargain purchase gain of $9 million [$9 million after tax].

MAGNA ANNOUNCES FOURTH QUARTER 2025 RESULTS AND 2026 OUTLOOK CONNECT WITH MAGNA 17

MAGNA INTERNATIONAL INC.

SUPPLEMENTAL DATA

[Unaudited]

[All amounts in U.S. dollarsand all tabular amounts in millions unless otherwise noted]

CONTINGENCIES

From time to time, the Company may become involved in regulatory proceedings, or become liable for legal, contractual and other claims by various parties, including customers, suppliers, former employees, class action plaintiffs and others. On an ongoing basis, the Company attempts to assess the likelihood of any adverse judgments or outcomes to these proceedings or claims, together with potential ranges of probable costs and losses. A determination of the provision required, if any, for these contingencies is made after analysis of each individual issue. The required provision may change in the future due to new developments in each matter or changes in approach such as a change in settlement strategy in dealing with these matters.

In the first quarter of 2025, management identified a potential exposure related to the reassessment of certain prior tax periods. This was a result of the proposed retroactive application of a 2023 judicial decision to tax periods prior to the date of the ruling within a jurisdiction in which the Company operates. This exposure pertained to previously claimed refundable value added tax amounts, as well as associated interest, penalties, and other charges. During the third quarter, the Company negotiated a resolution to this matter and paid an amount during the fourth quarter, which is not considered material.

In December 2023, the Company received a notification [the “Notification Letter”] from Ford Motor Company [“Ford”] informing the Company as to its initial determination that one of the Company’s operating groups bore responsibility for costs totaling $352 million related to two product recalls. The Notification Letter triggered negotiations regarding financial allocation of the total costs for the two recalls. During the fourth quarter, the Company reached a commercial resolution with respect to this matter, which resulted in a payment to the customer of $132 million.

In the third quarter of 2025, Ford initiated recalls covering approximately 3.8 million vehicles equipped with rearview cameras or image processing modules supplied by the Company. Ford also announced a new 15-year extended warranty program for up to approximately 14.9 million vehicles also equipped with rearview cameras supplied by us. Ford is claiming approximately $288 million in costs related to these recalls and warranty claims. Additional recalls and/or extended warranty programs remain possible. The Company is in technical and commercial discussions with Ford, however, at this time, root cause determinations have not been made and/or confirmed for the vehicles covered by Ford’s recalls and warranty extension program. Even after root cause(s) have been determined, other challenges make it difficult to fully quantify the Company’s potential financial exposure, if any. These challenges include: integration with other vehicle systems and non-camera components; the age of affected vehicles; duration of the original warranty; number of affected vehicles brought to Ford dealers for inspection; and dealer discretion to determine the nature of the remedy to be applied, which may range from software upgrades, inspection of the rearview camera and other components, repairs, or replacement of the rearview camera. In the absence of certainty as to the scope of potentially affected vehicles, the root cause(s) of the alleged product failures, and/or the related costs of service actions, the Company is unable to fully estimate its potential exposure, if any, for recall-related costs and the extension of product warranties by Ford to affected vehicle owners. If the Company is determined to be fully or partially responsible for defective rearview cameras, the related recall and extended warranty costs could be material to the Company’s profitability in the period(s) in which such costs are recognized or provided for.

As a result of the bankruptcy of Fisker, Inc., owners of Fisker Ocean SUVs have asserted claims for alleged vehicle defects and breaches of state “lemon laws” against J.P. Morgan Chase, N.A. [“Chase”], the direct financer of approximately 2,000 such vehicles in the United States. Chase has indicated that it will seek indemnification from the Company, as contract manufacturer, for damages and legal costs incurred with the resolution of these claims. As the number, details and amount of these claims are all currently unknown, it is too early to determine the Company’s potential liability, if any, at this time.

MAGNA ANNOUNCES FOURTH QUARTER 2025 RESULTS AND 2026 OUTLOOK CONNECT WITH MAGNA 18

MAGNA INTERNATIONAL INC.

SUPPLEMENTAL DATA

[Unaudited]

[All amounts in U.S. dollarsand all tabular amounts in millions unless otherwise noted]

SEGMENTED INFORMATION

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

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

The Company's chief operating decision maker is the Chief Executive Officer. The chief operating decision maker uses Adjusted Earnings before Interest and Income Taxes ["Adjusted EBIT"] as the measure of segment profit or loss, since management believes Adjusted EBIT is the most appropriate measure of operational profitability or loss for its reporting segments. The chief operating decision maker uses Adjusted EBIT to assess operating performance, allocate resources, and to help plan the Company's long-term strategic direction and future global growth. Adjusted EBIT is calculated by taking Net income and adding back Amortization of acquired intangible assets, Income taxes, Interest expense, net and Other expense, net.

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

Three<br> months ended December 31, 2025
Fixed
Total External Adjusted Equity asset
sales sales EBIT<br> ^[ii]^ Depreciation income additions
Body<br> Exteriors & Structures $ 4,252 $ 4,188 $ 465 $ 193 $ — $ 262
Power &<br> Vision 3,841 3,772 166 154 (39 ) 199
Seating<br> Systems 1,633 1,623 136 25 (5 ) 34
Complete<br> Vehicles 1,261 1,255 50 21 (3 ) 25
Corporate &<br> Other ^[i]^ (139 ) 10 (3 ) 8 — 12
Total<br> Reportable Segments $ 10,848 $ 10,848 $ 814 $ 401 $ (47 ) $ 532
Three<br> months ended December 31, 2024
--- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- ---
Equity Fixed
Total External Adjusted (income) asset
sales sales EBIT<br> ^[ii]^ Depreciation loss additions
Body Exteriors &<br> Structures $ 4,067 $ 3,999 $ 371 $ 183 $ (2 ) $ 435
Power & Vision 3,786 3,716 235 141 (33 ) 201
Seating Systems 1,511 1,509 67 25 (9 ) 46
Complete Vehicles 1,402 1,395 56 20 (2 ) 22
Corporate &<br> Other ^[i]^ (138 ) 9 (40 ) 7 1 5
Total Reportable<br> Segments $ 10,628 $ 10,628 $ 689 $ 376 $ (45 ) $ 709
Year<br> ended December 31, 2025
--- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- ---
Fixed
Total External Adjusted Equity asset
sales sales EBIT<br> ^[ii]^ Depreciation income additions
Body<br> Exteriors & Structures $ 16,618 $ 16,373 $ 1,347 $ 759 $ (4 ) $ 615
Power &<br> Vision 15,198 14,901 688 581 (96 ) 522
Seating<br> Systems 5,898 5,882 210 103 (35 ) 90
Complete<br> Vehicles 4,848 4,817 151 73 (6 ) 61
Corporate &<br> Other ^[i]^ (552 ) 37 (32 ) 31 (2 ) 25
Total<br> Reportable Segments $ 42,010 $ 42,010 $ 2,364 $ 1,547 $ (143 ) $ 1,313
MAGNA ANNOUNCES FOURTH QUARTER 2025 RESULTS AND 2026 OUTLOOK CONNECT WITH MAGNA 19
--- --- ---

MAGNA INTERNATIONAL INC.

SUPPLEMENTAL DATA

[Unaudited]

[All amounts in U.S. dollarsand all tabular amounts in millions unless otherwise noted]

SEGMENTED INFORMATION (CONTINUED)

Year<br> ended December 31, 2024
Equity Fixed
Total External Adjusted (income) asset
sales sales EBIT<br> ^[ii]^ Depreciation loss additions
Body Exteriors &<br> Structures $ 16,999 $ 16,745 $ 1,283 $ 731 $ (4 ) $ 1,338
Power & Vision 15,391 15,132 810 572 (70 ) 644
Seating Systems 5,800 5,787 223 98 (24 ) 112
Complete Vehicles 5,186 5,155 130 83 (7 ) 59
Corporate &<br> Other ^[i]^ (540 ) 17 (117 ) 26 4 25
Total Reportable<br> Segments $ 42,836 $ 42,836 $ 2,329 $ 1,510 $ (101 ) $ 2,178
^[i]^ Included in Corporate and Other Adjusted EBIT are intercompany<br>fees charged to the automotive segments.
--- ---
^[ii]^ Other segment items constitute the difference between External<br>sales by segment and Adjusted EBIT by segment, and are comprised of cost of goods sold, selling, general, and administrative expenses,<br>depreciation, and equity income. The chief operating decision maker uses consolidated expense information as included within Adjusted<br>EBIT to manage segment operations.
--- ---

NON-GAAP FINANCIAL MEASURES

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

The following table reconciles Net income to Adjusted EBIT:

Three months<br> ended Year ended
December 31, December 31,
2025 2024 2025 2024
Net income $ 3 $ 234 $ 883 $ 1,096
Add:
Amortization<br> of acquired intangible assets 29 28 111 112
Interest<br> expense, net 42 52 209 211
Other<br> expense, net 629 228 736 464
Income<br> taxes 111 147 425 446
Adjusted<br> EBIT $ 814 $ 689 $ 2,364 $ 2,329
MAGNA ANNOUNCES FOURTH QUARTER 2025 RESULTS AND 2026 OUTLOOK CONNECT WITH MAGNA 20
--- --- ---

MAGNA INTERNATIONAL INC.

SUPPLEMENTAL DATA

[Unaudited]

[All amounts in U.S. dollarsand all tabular amounts in millions unless otherwise noted]

NON-GAAP FINANCIAL MEASURES (CONTINUED)

The following table reconciles Net (loss) income attributable to Magna International Inc. to Adjusted diluted earnings per share:

Three months<br> ended Year ended
December 31, December 31,
2025 2024 2025 2024
Net (loss)<br> income attributable to Magna International Inc. $ (1 ) $ 203 $ 829 $ 1,009
Add (deduct):
Amortization<br> of acquired intangible assets 29 28 111 112
Tax effect<br> on Amortization of acquired intangible assets (3 ) (6 ) (18 ) (23 )
Other<br> expense, net 629 228 736 464
Tax<br> effect on Other expense, net (37 ) (22 ) (40 ) (62 )
Adjustments<br> to Deferred Tax Valuation Allowances ^[i]^ — 51 — 51
Adjusted<br> net income attributable to Magna International Inc. $ 617 $ 482 $ 1,618 $ 1,551
Diluted<br> weighted average number of Common Shares outstanding during the period (millions): 281.2 285.9 282.5 286.9
Adjusted<br> Dilutive impact of stock option and share awards ^[ii]^ 1.5 — — —
Adjusted<br> diluted weighted average number of Common Shares outstanding during the period (millions): 282.7 — 282.5 —
Adjusted diluted earnings<br> per share $ 2.18 $ 1.69 $ 5.73 $ 5.41
^[i]^ The Company records quarterly<br> adjustments to the valuation allowance against its deferred tax assets in continents like<br> North America, Europe, Asia, and South America. The net effect of these adjustments is a<br> reduction to income tax expense. [“Adjustments to Deferred Tax Valuation Allowance”].
--- ---
^[ii]^ During the fourth quarter of<br> 2025, the Company generated Adjusted net Income attributable to Magna International Inc.<br> while reporting a net loss attributable to Magna International Inc. As a result, certain<br> stock-based compensation awards are dilutive for adjusted diluted earnings per share and<br> are included in the adjusted diluted weighted average number of Common Shares outstanding.<br> The dilutive impact was determined using the treasury stock method.
--- ---

The following table reconciles Cash provided from operating activities to Free Cash Flow:

Three months<br> ended Year ended
December 31, December 31,
2025 2024 2025 2024
Cash provided<br> from operating activities $ 1,982 $ 1,910 $ 3,598 $ 3,634
Add (deduct):
Fixed<br> asset additions (532 ) (709 ) (1,313 ) (2,178 )
Increase<br> in investment, other assets, and intangible assets (157 ) (207 ) (499 ) (617 )
Proceeds<br> from dispositions 54 37 121 219
Free<br> Cash Flow $ 1,347 $ 1,031 $ 1,907 $ 1,058
MAGNA ANNOUNCES FOURTH QUARTER 2025 RESULTS AND 2026 OUTLOOK CONNECT WITH MAGNA 21
--- --- ---

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

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

We will hold a conference call for interested analysts and shareholders to discuss our year ended December 31, 2025 results and 2026 Outlook on Friday, February 13, 2026 at 8:00 a.m. ET. The conference call will be chaired by Swamy Kotagiri, Chief Executive Officer. The number to use for this call from North America is 1-800-715-9871. International callers should use 1-646-307-1963. Please call in at least 10 minutes prior to the call start time. We will also webcast the conference call at www.magna.com. The slide presentation accompanying the conference call as well as our financial review summary will be available on our website Friday prior to the call.

TAGS

Quarterly earnings, full year results, outlook, financial results, vehicle production

INVESTOR CONTACT

Louis Tonelli, Vice-President, Investor Relations

[email protected] │ 905.726.7035

MEDIA CONTACT

Tracy Fuerst, Vice-President, Corporate Communications & PR

[email protected] │ 248.761.7004

TELECONFERENCE CONTACT

Nancy Hansford, Executive Assistant, Investor Relations

[email protected] │ 905.726.7108

ABOUT MAGNA

Magna is one of the world’s largest automotive suppliers and a trusted partner to automakers in the industry’s most critical markets—North America, Europe, and China. With a global team and footprint spanning 28 countries, we bring unmatched scale, trusted reliability, and proven execution. Backed by nearly seven decades of experience, we combine deep manufacturing expertise with innovative vehicle systems to deliver performance, safety, and quality.

For further information about Magna (NYSE:MGA; TSX:MG), please visit www.magna.com or follow us on social.

MAGNA ANNOUNCES FOURTH QUARTER 2025 RESULTS AND 2026 OUTLOOK CONNECT WITH MAGNA 22

FORWARD-LOOKING STATEMENTS

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

Material Forward-Looking Statement Material Potential Risks Related to Applicable Forward-Looking Statement
Light<br> Vehicle Production ·  Light<br> vehicle sales levels, including due to:<br><br> <br>- A decline in consumer confidence<br><br> <br>- Economic uncertainty<br><br> <br>- Elevated interest rates and availability<br> of consumer credit<br><br> <br>- Deteriorating vehicle affordability<br><br> <br>·  Tariffs<br> and/or other actions that erode free trade agreements<br><br> <br>·  Production<br> deferrals, cancellations and volume reductions<br><br> <br>·  Production<br> and supply disruptions<br><br> <br>·  Commodities<br> prices<br><br> <br>·  Availability<br> and relative cost of skilled labour
Total<br> Sales Segment Sales ·  Same<br> risks as for Light Vehicle Production above<br><br> <br>·  Alignment<br> of our product mix with production demand<br><br> <br>·  Customer<br> concentration<br><br> <br>·  Pace<br> of EV adoption, including North American electric vehicle program deferrals, cancellations and volume reductions and growth of<br> Chinese OEMs<br><br> <br>·  Shifts<br> in market shares among vehicles or vehicle segments<br><br> <br>·  Shifts<br> in consumer "take rates" for products we sell<br><br> <br>·  Relative<br> currency values
Adjusted<br> EBIT Margin <br><br>Adjusted Diluted EPS <br><br>Free Cash Flow ·  Same<br> risks as for Total Sales and Segment Sales above<br><br> <br>·  Execution<br> of critical program launches<br><br> <br>·  Operational<br> underperformance<br><br> <br>·  Product<br> warranty/recall risks<br><br> <br>·  Production<br> inefficiencies<br><br> <br>·  Unmitigated<br> incremental tariff costs<br><br> <br>·  Restructuring<br> costs and/or impairment charges<br><br> <br>·  Inflation<br><br> <br>·  Ability<br> to secure planned cost recoveries from our customers and/or otherwise offset higher input costs<br><br> <br>·  Price<br> concessions<br><br> <br>·  Commodity<br> cost volatility<br><br> <br>·  Scrap<br> steel price volatility
Equity<br> Income ·  Same<br> risks as Adjusted EBIT Margin above<br><br> <br>·  Risks<br> related to conducting business through joint ventures<br><br> <br>·  Risks<br> of doing business in foreign markets<br><br> <br>·  Legal<br> and regulatory proceedings<br><br> <br>·  Changes<br> in law
Share<br>Repurchases<br><br> Weighted Average Diluted Shares Outstanding ·  Same<br> risks impacting Free Cash Flow above<br><br> <br>·  Ability<br> to repurchase shares for cancellation, including due to normal course issuer bid rules, trading blackouts, and other factors

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:

Macroeconomic, Geopolitical<br> and Other Risks<br><br> <br>·  consumer<br> confidence levels;<br><br> <br>·  geopolitical<br> risks;<br><br> <br>·  threats<br> to free trade agreements;<br><br> <br>·  international<br> trade disputes;<br><br> <br>·  planning<br> and forecasting challenges;<br><br> <br>·  interest<br> rates and availability of consumer credit;<br><br> <br><br><br> <br>Risks Related to the Automotive Industry<br><br> <br>·  pace<br> of EV adoption;<br><br> <br>·  North<br> American EV program deferrals, cancellations and volume reductions;<br><br> <br>·  economic<br> cyclicality;<br><br> <br>·  regional<br> production volumes;<br><br> <br>·  deteriorating<br> vehicle affordability;<br><br> <br>·  intense<br> competition;<br><br> <br><br><br> <br>Strategic Risks<br><br> <br>·  evolution<br> of the vehicle;<br><br> <br>·  evolving<br> business risk profile;<br><br> <br>·  technology<br> and innovation;<br><br> <br>·  investments<br> in mobility and technology companies; Pricing<br> Risks<br><br> <br>·  quote/pricing<br> assumptions;<br><br> <br>·  customer<br> pricing pressure/contractual arrangements;<br><br> <br>·  commodity<br> price volatility;<br><br> <br>·  scrap<br> steel/aluminum price volatility;<br><br> <br><br><br> <br>Warranty/Recall Risks<br><br> <br>·  repair/replacement<br> costs;<br><br> <br>·  warranty<br> provisions;<br><br> <br>·  product<br> liability;<br><br> <br><br><br> <br>IT Security/Cybersecurity Risks<br><br> <br>·  IT/cybersecurity<br> breach;<br><br> <br>·  product<br> cybersecurity;<br><br> <br><br><br> <br>Other Business Risks<br><br> <br>·  joint<br> ventures;<br><br> <br>·  intellectual<br> property;<br><br> <br>·  risks<br> of doing business in foreign markets;<br><br> <br>·  tax<br> risks;<br><br> <br>·  relative<br> foreign exchange rates;<br><br> <br>·  returns<br> on capital investments;<br><br> <br>·  financial<br> flexibility;<br><br> <br>·  credit<br> ratings changes;<br><br> <br>·  stock<br> price fluctuation;
MAGNA ANNOUNCES FOURTH QUARTER 2025 RESULTS AND 2026 OUTLOOK CONNECT WITH MAGNA 23
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Customer-Related<br> Risks<br><br> <br>·  customer<br> concentration;<br><br> <br>·  market<br> shifts;<br><br> <br>·  growth<br> of Chinese OEMs;<br><br> <br>·  dependence<br> on outsourcing;<br><br> <br>·  consumer<br> take rate shifts;<br><br> <br>·  customer<br> purchase orders;<br><br> <br>·  potential<br> OEM production-related disruptions;<br><br> <br><br><br> <br>Supply Chain Risks<br><br> <br>·  semiconductor<br> chip supply disruptions and price increases;<br><br> <br>·  supply<br> base;<br><br> <br>·  supplier<br> claims;<br><br> <br>·  supply<br> chain disruptions;<br><br> <br>·  regional<br> energy supply and pricing;<br><br> <br><br><br> <br>Manufacturing/Operational Risks<br><br> <br>·  product<br> launch;<br><br> <br>·  operational<br> underperformance;<br><br> <br>·  restructuring<br> costs and impairment charges;<br><br> <br>·  skilled<br> labour attraction/retention; Legal, Regulatory and Other Risks<br><br> <br>·  legal<br> and regulatory proceedings, and;<br><br> <br>·  changes<br> in laws.
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In evaluating forward-looking statements or forward-looking information, we caution readers not to place undue reliance on any forward-looking statement. Additionally, readers should specifically consider the various factors which could cause actual events or results to differ materially from those indicated by such forward-looking statements, including the risks, assumptions and uncertainties above which are:

· discussed<br> under the “Industry Trends and Risks” heading of our Management’s Discussion<br> and Analysis; and
· set<br> out in our Annual Information Form filed with securities commissions in Canada, our<br> annual report on Form 40-F filed with the United States Securities and Exchange Commission,<br> and subsequent filings.
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Readers should also consider discussion of our risk mitigation activities with respect to certain risk factors, which can be also found in our Annual Information Form. Additional information about Magna, including our Annual Information Form, is available through the System for Electronic Data Analysis and Retrieval + (SEDAR+) at www.sedarplus.ca, as well as on the United States Securities and Exchange Commission’s Electronic Data Gathering, Analysis and Retrieval System (EDGAR), which can be accessed at www.sec.gov.

MAGNA ANNOUNCES FOURTH QUARTER 2025 RESULTS AND 2026 OUTLOOK CONNECT WITH MAGNA 24

Exhibit 99.2

FINANCIAL REVIEW OF MAGNA INTERNATIONAL INC.

(United States dollars in millions, except per share figures) (Unaudited)

Prepared in accordance with U.S. GAAP

2023 2024 2025
Note 1st Q 2nd Q 3rd Q 4th Q TOTAL 1st Q 2nd Q 3rd Q 4th Q TOTAL 1st Q 2nd Q 3rd Q 4th Q TOTAL
VEHICLE VOLUME STATISTICS (in millions)
North America 3.891 4.084 3.935 3.724 15.634 3.979 4.105 3.716 3.723 15.523 3.700 3.980 3.941 3.621 15.242
Europe 4.640 4.659 3.867 4.447 17.613 4.556 4.450 3.705 4.134 16.845 4.225 4.382 3.793 4.266 16.666
China 5.930 6.787 7.565 8.779 29.061 6.382 7.089 7.286 9.726 30.483 7.111 7.833 8.252 9.493 32.689
Rest of World 6.885 6.648 6.862 6.988 27.383 6.617 6.590 6.667 6.941 26.815 6.881 6.882 6.883 6.993 27.639
Global 21.346 22.178 22.229 23.938 89.691 21.534 22.234 21.374 24.524 89.666 21.917 23.077 22.869 24.373 92.236
Magna Steyr vehicle assembly volumes 0.034 0.027 0.023 0.021 0.105 0.022 0.019 0.015 0.016 0.072 0.017 0.016 0.015 0.023 0.071
AVERAGE FOREIGN EXCHANGE RATES
1 Canadian dollar equals U.S. dollars 0.740 0.745 0.746 0.735 0.742 0.741 0.731 0.733 0.715 0.730 0.697 0.723 0.726 0.717 0.716
1 euro equals U.S. dollars 1.073 1.089 1.088 1.076 1.082 1.085 1.076 1.099 1.066 1.082 1.053 1.134 1.169 1.164 1.130
1 Chinese renminbi equals U.S. dollars 0.146 0.143 0.138 0.138 0.141 0.139 0.138 0.140 0.139 0.139 0.138 0.138 0.140 0.141 0.139
CONSOLIDATED STATEMENTS OF INCOME (LOSS)
Sales
Body Exteriors & Structures 4,439 4,540 4,354 4,178 17,511 4,429 4,465 4,038 4,067 16,999 3,966 4,253 4,147 4,252 16,618
Power & Vision 3,323 3,462 3,745 3,775 14,305 3,842 3,926 3,837 3,786 15,391 3,646 3,857 3,854 3,841 15,198
Seating Systems 1,486 1,603 1,529 1,429 6,047 1,455 1,455 1,379 1,511 5,800 1,312 1,433 1,520 1,633 5,898
Complete Vehicles 1,626 1,526 1,185 1,201 5,538 1,383 1,242 1,159 1,402 5,186 1,276 1,226 1,085 1,261 4,848
Corporate & Other (201 ) (149 ) (125 ) (129 ) (604 ) (139 ) (130 ) (133 ) (138 ) (540 ) (131 ) (138 ) (144 ) (139 ) (552 )
10,673 10,982 10,688 10,454 42,797 10,970 10,958 10,280 10,628 42,836 10,069 10,631 10,462 10,848 42,010
Costs and expenses
Cost of goods sold 9,416 9,544 9,264 8,961 37,185 9,642 9,494 8,828 9,073 37,037 8,827 9,127 8,973 9,094 36,021
Selling, general and administrative 488 505 491 566 2,050 516 523 487 535 2,061 539 565 531 586 2,221
Equity income (33 ) (36 ) (40 ) (3 ) (112 ) (34 ) (9 ) (13 ) (45 ) (101 ) (20 ) (32 ) (44 ) (47 ) (143 )
Adjusted EBITDA 802 969 973 930 3,674 846 950 978 1,065 3,839 723 971 1,002 1,215 3,911
Depreciation 353 353 358 372 1,436 377 373 384 376 1,510 369 388 389 401 1,547
Adjusted EBIT 449 616 615 558 2,238 469 577 594 689 2,329 354 583 613 814 2,364
Amortization of acquired intangible assets 12 13 32 31 88 28 28 28 28 112 26 29 27 29 111
Other expense (income), net 1 142 86 (4 ) 164 388 356 68 (188 ) 228 464 53 6 48 629 736
Interest expense, net 20 34 49 53 156 51 54 54 52 211 50 52 65 42 209
Income from operations before income taxes 275 483 538 310 1,606 34 427 700 381 1,542 225 496 473 114 1,308
Income tax expense 58 129 121 12 320 8 99 192 147 446 72 102 140 111 425
Net income 217 354 417 298 1,286 26 328 508 234 1,096 153 394 333 3 883
Income attributable to non-controlling interests (8 ) (15 ) (23 ) (27 ) (73 ) (17 ) (15 ) (24 ) (31 ) (87 ) (7 ) (15 ) (28 ) (4 ) (54 )
Net income (loss) attributable to Magna International Inc. 209 339 394 271 1,213 9 313 484 203 1,009 146 379 305 (1 ) 829
Diluted earnings per common share $ 0.73 $ 1.18 $ 1.37 $ 0.94 $ 4.23 $ 0.03 $ 1.09 $ 1.68 $ 0.71 $ 3.52 $ 0.52 $ 1.35 $ 1.08 $ - $ 2.93
Weighted average number of Common Shares outstanding during the period (in millions): 286.6 286.3 286.8 286.6 286.6 287.1 287.3 287.3 285.9 286.9 282.0 281.7 281.8 282.7 282.5
NON-GAAP MEASURES
Adjusted EBITDA 802 969 973 930 3,674 846 950 978 1,065 3,839 723 971 1,002 1,215 3,911
Adjusted EBIT 2 449 616 615 558 2,238 469 577 594 689 2,329 354 583 613 814 2,364
Adjusted Return on Invested Capital 2 8.7 % 11.0 % 10.3 % 9.6 % 9.9 % 7.8 % 9.4 % 9.0 % 11.8 % 9.5 % 5.7 % 9.6 % 9.2 % 13.9 % 9.7 %
Adjusted net income attributable to Magna International Inc. 2 329 441 419 383 1,572 311 389 369 482 1,551 219 407 375 617 1,618
Adjusted Diluted earnings per common share 2 $ 1.15 $ 1.54 $ 1.46 $ 1.33 $ 5.49 $ 1.08 $ 1.35 $ 1.28 $ 1.69 $ 5.41 $ 0.78 $ 1.44 $ 1.33 $ 2.18 $ 5.73
PROFITABILITY RATIOS
Selling, general and administrative /Sales 4.6 % 4.6 % 4.6 % 5.4 % 4.8 % 4.7 % 4.8 % 4.7 % 5.0 % 4.8 % 5.4 % 5.3 % 5.1 % 5.4 % 5.3 %
Adjusted EBIT /Sales 4.2 % 5.6 % 5.8 % 5.3 % 5.2 % 4.3 % 5.3 % 5.8 % 6.5 % 5.4 % 3.5 % 5.5 % 5.9 % 7.5 % 5.6 %
Income (loss) from operations before income taxes /Sales 2.6 % 4.4 % 5.0 % 3.0 % 3.8 % 0.3 % 3.9 % 6.8 % 3.6 % 3.6 % 2.2 % 4.7 % 4.5 % 1.1 % 3.1 %
Effective tax rate Reported 21.1 % 26.7 % 22.5 % 3.9 % 19.9 % 23.5 % 23.2 % 27.4 % 38.6 % 28.9 % 32.0 % 20.6 % 29.6 % 97.4 % 32.5 %
Excluding Other expense (income) and amortization, net of taxes and valuation allowance adjustments 21.4 % 21.6 % 21.9 % 18.8 % 21.0 % 21.5 % 22.8 % 27.2 % 19.5 % 22.7 % 25.7 % 20.5 % 26.5 % 19.6 % 22.4 % 
| Q4 2025 Financial Review of Magna International Inc. | Page 1 of 7 | Prepared as at 2/9/2026 |

| --- | --- | --- |

FINANCIAL REVIEW OF MAGNA INTERNATIONAL INC.

(United States dollars in millions) (Unaudited)

Prepared in accordance with U.S. GAAP

2023 2024 2025
1st<br> Q 2nd<br> Q 3rd<br> Q 4th<br> Q 1st<br> Q 2nd<br> Q 3rd<br> Q 4th<br> Q 1st<br> Q 2nd<br> Q 3rd<br> Q 4th<br> Q
CONSOLIDATED<br> BALANCE SHEETS
FUNDS<br> EMPLOYED
Current<br> assets:
Accounts<br> receivable 7,959 8,556 8,477 7,881 8,379 8,219 8,377 7,376 8,198 8,258 8,406 7,593
Inventories 4,421 4,664 4,751 4,606 4,511 4,466 4,592 4,151 4,184 4,207 4,233 4,126
Prepaid<br> expenses and other 367 455 387 352 399 314 303 344 358 333 316 407
12,747 13,675 13,615 12,839 13,289 12,999 13,272 11,871 12,740 12,798 12,955 12,126
Current<br> liabilities:
Accounts<br> payable 7,731 7,984 7,911 7,842 7,855 7,639 7,608 7,194 7,376 7,127 7,261 6,895
Accrued<br> salaries and wages 822 858 900 912 883 862 962 867 893 917 994 888
Other<br> accrued liabilities 2,526 2,637 2,537 2,626 2,728 2,650 2,642 2,572 2,723 2,845 2,906 2,745
Income<br> taxes payable (receivable) 9 (14 ) 33 125 132 79 176 192 152 88 109 106
11,088 11,465 11,381 11,505 11,598 11,230 11,388 10,825 11,144 10,977 11,270 10,634
Working<br> capital 1,659 2,210 2,234 1,334 1,691 1,769 1,884 1,046 1,596 1,821 1,685 1,492
Investments 1,390 1,287 1,311 1,273 1,195 1,161 1,165 1,045 1,062 1,129 1,098 1,103
Fixed<br> assets, net 8,304 8,646 8,778 9,618 9,545 9,623 9,836 9,584 9,650 9,853 9,707 9,507
Goodwill,<br> other assets and intangible assets 3,640 4,733 4,726 4,962 4,646 4,709 4,865 4,532 4,669 4,896 4,876 4,277
Operating<br> lease right-of-use assets 1,638 1,667 1,696 1,744 1,733 1,688 1,780 1,941 2,032 2,061 2,024 1,928
Funds<br> employed 16,631 18,543 18,745 18,931 18,810 18,950 19,530 18,148 19,009 19,760 19,390 18,307
FINANCING
Net<br> debt and leases:
Cash<br> and cash equivalents (2,429 ) (1,281 ) (1,022 ) (1,198 ) (1,517 ) (999 ) (1,061 ) (1,247 ) (1,059 ) (1,536 ) (1,327 ) (1,612 )
Short-term<br> borrowings 4 150 2 511 838 848 828 271 614 349 433 -
Long-term<br> debt due within one year 668 1,426 1,398 819 824 65 65 708 1,005 706 33 27
Long-term<br> debt 4,500 4,159 4,135 4,175 4,549 4,863 4,916 4,134 3,892 4,984 4,967 4,685
Current<br> portion of operating lease liabilities 285 303 384 399 306 306 319 293 305 318 323 328
Operating<br> lease liabilities 1,318 1,345 1,289 1,319 1,407 1,378 1,458 1,662 1,742 1,759 1,722 1,649
4,346 6,102 6,186 6,025 6,407 6,461 6,525 5,821 6,499 6,580 6,151 5,077
Long-term<br> employee benefit liabilities 563 579 564 591 584 564 571 533 552 574 573 554
Other<br> long-term liabilities 451 448 453 475 471 507 339 396 349 267 298 399
Deferred<br> tax assets, net (218 ) (242 ) (210 ) (437 ) (576 ) (592 ) (592 ) (542 ) (557 ) (564 ) (567 ) (562 )
796 785 807 629 479 479 318 387 344 277 304 391
Shareholders'<br> equity 11,489 11,656 11,752 12,277 11,924 12,010 12,687 11,940 12,166 12,903 12,935 12,839
16,631 18,543 18,745 18,931 18,810 18,950 19,530 18,148 19,009 19,760 19,390 18,307
ASSET<br> UTILIZATION RATIOS
Days<br> in accounts receivable 67.1 70.1 71.4 67.8 68.7 67.5 73.3 62.5 73.3 69.9 72.3 63.0
Days<br> in accounts payable 73.9 75.3 76.9 78.8 73.3 72.4 77.6 71.4 75.2 70.3 72.8 68.2
Inventory<br> turnover - cost of goods sold 8.5 8.2 7.8 7.8 8.5 8.5 7.7 8.7 8.4 8.7 8.5 8.8
Working<br> capital turnover 25.7 19.9 19.1 31.3 25.9 24.8 21.8 40.6 25.2 23.4 24.8 29.1
Total<br> asset turnover 2.6 2.4 2.3 2.2 2.3 2.3 2.1 2.3 2.1 2.2 2.2 2.4
CAPITAL<br> STRUCTURE
Net<br> debt and leases 26.1 % 32.9 % 33.0 % 31.8 % 34.1 % 34.1 % 33.4 % 32.1 % 34.2 % 33.3 % 31.7 % 27.7 %
Long-term employee benefit liabilities, other long-term liabilities & deferred tax liabilities, net 4.8 % 4.2 % 4.3 % 3.3 % 2.5 % 2.5 % 1.6 % 2.1 % 1.8 % 1.4 % 1.6 % 2.1 %
Shareholders'<br> equity 69.1 % 62.9 % 62.7 % 64.9 % 63.4 % 63.4 % 65.0 % 65.8 % 64.0 % 65.3 % 66.7 % 70.1 %
100.0 % 100.0 % 100.0 % 100.0 % 100.0 % 100.0 % 100.0 % 100.0 % 100.0 % 100.0 % 100.0 % 100.0 %
Adjusted<br> Debt to Adjusted EBITDA 2 2.19 x 2.19 x 2.02 x 1.85 x 1.98 x 1.91 x 1.93 x 1.75 x 1.92 x 2.03 x 1.88 x 1.58 x
Debt<br> to total capitalization 37.1 % 38.8 % 38.0 % 37.0 % 39.9 % 38.3 % 37.4 % 37.2 % 38.3 % 38.6 % 36.6 % 34.3 % 
| Q4 2025 Financial Review of Magna International Inc. | Page 2 of 7 | Prepared as at 2/9/2026 |

| --- | --- | --- |

FINANCIAL REVIEW OF MAGNA INTERNATIONAL INC.

(United States dollars in millions) (Unaudited)

Prepared in accordance with U.S. GAAP

2023 2024 2025
Note 1st<br> Q 2nd<br> Q 3rd<br> Q 4th<br> Q TOTAL 1st<br> Q 2nd<br> Q 3rd<br> Q 4th<br> Q TOTAL 1st<br> Q 2nd<br> Q 3rd<br> Q 4th<br> Q TOTAL
CONSOLIDATED<br> STATEMENTS OF CASH FLOWS
Operating<br> activities
Net<br> income 217 354 417 298 1,286 26 328 508 234 1,096 153 394 333 3 883
Items<br> not involving current cash flows 351 525 404 362 1,642 565 353 277 662 1,857 394 368 454 1,152 2,368
568 879 821 660 2,928 591 681 785 896 2,953 547 762 787 1,155 3,251
Changes<br> in operating assets and liabilities (341 ) (332 ) (24 ) 918 221 (330 ) 55 (58 ) 1,014 681 (470 ) (135 ) 125 827 347
Cash<br> provided from operating activities 227 547 797 1,578 3,149 261 736 727 1,910 3,634 77 627 912 1,982 3,598
Investment<br> activities
Fixed<br> asset additions (424 ) (502 ) (630 ) (944 ) (2,500 ) (493 ) (500 ) (476 ) (709 ) (2,178 ) (268 ) (246 ) (267 ) (532 ) (1,313 )
Increase<br> in investments, other assets and intangible assets (101 ) (96 ) (176 ) (189 ) (562 ) (125 ) (170 ) (115 ) (207 ) (617 ) (148 ) (94 ) (100 ) (157 ) (499 )
Net<br> cash (outflow) inflow from disposal of facilities 1(f), 1(g) (25 ) - (23 ) - (48 ) 4 - 78 - 82 - - - - -
Investment<br> in Public and Private Equity Investments - (3 ) (7 ) (1 ) (11 ) (23 ) 2 (1 ) 10 (12 ) (1 ) (3 ) (2 ) (2 ) (8 )
Proceeds<br> from disposition 19 44 32 27 122 87 57 38 37 219 26 14 27 54 121
Business<br> combinations - (1,475 ) - (29 ) (1,504 ) (30 ) (56 ) - - (86 ) (4 ) 4 (1 ) - (1 )
Cash<br> used for investment activities (531 ) (2,032 ) (804 ) (1,136 ) (4,503 ) (580 ) (667 ) (476 ) (869 ) (2,592 ) (395 ) (325 ) (343 ) (637 ) (1,700 )
Financing<br> activities
Net<br> issues (repayments) of debt 1,636 544 (135 ) (119 ) 1,926 757 (416 ) (47 ) (513 ) (219 ) 322 341 (583 ) (747 ) (667 )
Common<br> Shares issued on exercise of stock options 6 - 8 6 20 30 - - - 30 - - - 2 2
Repurchase<br> of Common Shares (9 ) (2 ) - (2 ) (13 ) (3 ) (2 ) - (202 ) (207 ) (51 ) - - (86 ) (137 )
Tax<br> withholdings on vesting of equity awards (9 ) (1 ) - (1 ) (11 ) (4 ) (1 ) - (3 ) (8 ) (4 ) - - (1 ) (5 )
Contributions<br> to subsidiaries by non-controlling interests - - - 11 11 - - - - - - - - - -
Acquisition<br> of non-controlling interest - - - - - - - - - - - - (40 ) (82 ) (122 )
Dividends<br> paid to non-controlling interests (7 ) (24 ) (18 ) (25 ) (74 ) - (26 ) (10 ) (10 ) (46 ) - (25 ) (15 ) (19 ) (59 )
Dividends<br> paid (132 ) (129 ) (128 ) (133 ) (522 ) (134 ) (134 ) (138 ) (133 ) (539 ) (136 ) (137 ) (136 ) (135 ) (544 )
Cash<br> provided from (used for) financing activities 1,485 388 (273 ) (263 ) 1,337 646 (579 ) (195 ) (861 ) (989 ) 131 179 (774 ) (1,068 ) (1,532 )
Effect<br> of exchange rate changes on cash and cash equivalents 14 (51 ) 21 (3 ) (19 ) (8 ) (8 ) 6 6 (4 ) (1 ) (4 ) (4 ) 8 (1 )
Net<br> increase (decrease) in cash and cash equivalents, during the period 1,195 (1,148 ) (259 ) 176 (36 ) 319 (518 ) 62 186 49 (188 ) 477 (209 ) 285 365
Cash<br> and cash equivalents, beginning of period 1,234 2,429 1,281 1,022 1,234 1,198 1,517 999 1,061 1,198 1,247 1,059 1,536 1,327 1,247
Cash<br> and cash equivalents, end of period 2,429 1,281 1,022 1,198 1,198 1,517 999 1,061 1,247 1,247 1,059 1,536 1,327 1,612 1,612
NON-GAAP<br> MEASURES
Free<br> Cash Flow 2 (279 ) (7 ) 23 472 209 (270 ) 123 174 1,031 1,058 (313 ) 301 572 1,347 1,907 
| Q4 2025 Financial Review of Magna International Inc. | Page 3 of 7 | Prepared as at 2/9/2026 |

| --- | --- | --- |

FINANCIAL REVIEW OF MAGNA INTERNATIONAL INC.

(United States dollars in millions, except per share figures) (Unaudited)

Prepared in accordance with U.S. GAAP

This Analyst should be read in conjunction with the audited consolidated financial statements for the year ended December 31, 2025.

Note 1:  OTHER EXPENSE (INCOME), NET

Other expense (income), net consists of significant items such as: impairment charges; restructuring costs generally related to significant plant closures or consolidations; net losses (gains) on investments; gains or losses on disposal of facilities or businesses; and other items not reflective of on-going operating profit or loss. Other expense (income), net consists of:

2023 2024 2025
1st<br> Q 2nd<br> Q 3rd<br> Q 4th<br> Q TOTAL 1st<br> Q 2nd<br> Q 3rd<br> Q 4th<br> Q TOTAL 1st<br> Q 2nd<br> Q 3rd<br> Q 4th<br> Q TOTAL
Impairments. [a] - - - - - - - - 79 79 - - - 615 615
Restructuring<br> activities [b] 118 (35 ) (1 ) 66 148 38 55 - 94 187 44 13 46 15 118
Investment<br> revaluations, (gains) losses on sales, and impairments [c] 2 85 (1 ) 5 91 2 3 1 3 9 9 (7 ) 2 (1 ) 3
Impacts<br> related to Fisker Inc. [“Fisker”] [d] 22 13 (18 ) 93 110 316 19 (189 ) 52 198 - - - - -
Gain<br> on business combination [e] - - - - - - (9 ) - - (9 ) - - - - -
Veoneer<br> AS transaction costs [f] - 23 - - 23 - - - - - - - - - -
Operations<br> in Russia [g] - - 16 - 16 - - - - - - - - - -
142 86 (4 ) 164 388 356 68 (188 ) 228 464 53 6 48 629 736
[a] Impairments
--- ---

During 2025, the Company concluded that indicators of impairment were present for finite-lived intangible assets and goodwill in the Electronics reporting unit within the Power & Vision segment and recorded $591 million impairment. During 2025, the Company also recorded an impairment charge of $24 million on fixed assets and other assets at a European facility in its Body Exteriors & Structures segment. During 2024, the Company recorded an impairment charge of $79 million on fixed assets, right of use assets and intangible assets at two European facilities in its Power & Vision segment.

[b] Restructuring activities
2023 2024 2025
--- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- ---
1st<br> Q 2nd<br> Q 3rd<br> Q 4th<br> Q TOTAL 1st<br> Q 2nd<br> Q 3rd<br> Q 4th<br> Q TOTAL 1st<br> Q 2nd<br> Q 3rd<br> Q 4th<br> Q TOTAL
Complete<br> Vehicles - - - - - 26 - - 29 55 33 - 12 13 58
Power &<br> Vision 105 (44 ) (1 ) 57 117 - 55 - 49 104 11 13 34 (7 ) 51
Body<br> Exteriors & Structures 13 9 - 9 31 12 - - 16 28 - - - 9 9
118 (35 ) (1 ) 66 148 38 55 - 94 187 44 13 46 15 118

Restructuring charges generally related to significant plant closures and consolidations primarily in Europe and to a lesser extent in North America and Asia Pacific. During the third quarter of 2025, the Company’s Power & Vision segment recorded $10 million of equity losses associated with its share of significant rightsizing activities at an equity method investee. During the second quarters of 2025 and 2024, the Company recorded $6 million and $35 million, respectively, of restructuring charges associated with its acquisition of the Veoneer Active Safety Business [“Veoneer AS”]; during the second and third quarters of 2023, the Company’s Power & Vision segment recorded a $10 million and $8 million gain on the sale of a building as a result of restructuring activities, respectively; during the second quarter of 2023, the Company’s Power & Vision segment reversed $39 million of charges due to a change in the restructuring plans related to a plant closure.

[c] Investment revaluations, (gains) losses on sales, and impairments
2023 2024 2025
--- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- ---
1st<br> Q 2nd<br> Q 3rd<br> Q 4th<br> Q TOTAL 1st<br> Q 2nd<br> Q 3rd<br> Q 4th<br> Q TOTAL 1st<br> Q 2nd<br> Q 3rd<br> Q 4th<br> Q TOTAL
Gains<br> and losses related to revaluation and disposition 2 - (1 ) - 1 2 3 1 (10 ) (4 ) 9 (7 ) - (1 ) 1
Non-cash<br> impairment charges - 85 - 5 90 - - - 13 13 - - 2 - 2
2 85 (1 ) 5 91 2 3 1 3 9 9 (7 ) 2 (1 ) 3

The Company revalues its public and private equity investments and certain public company warrants every quarter. The gains and losses related to this revaluation, as well as gains and losses on disposition, are primarily recorded in Corporate. The non-cash impairment charges on private equity investments are primarily recorded in Corporate.  During the second quarter of 2023, the non-cash impairment included a charge with respect to related long-term receivables within Other Assets. During the fourth quarter of 2023, the non-cash impairment charges were recorded in the Company's Power & Vision segment.

[d] Impacts related to Fisker Inc. [“Fisker”]

During 2023 and 2024, the Company recorded impairment charges on its Fisker related net assets, including its Fisker warrants, which were received in connection with the agreements with Fisker for platform sharing, engineering and manufacturing of the Fisker Ocean SUV. The Company also recorded additional restructuring charges during the first quarter of 2024 related to its Fisker related assembly operations. In the course of such bankruptcy proceedings, the Company terminated its manufacturing agreement for the Fisker Ocean SUV and recognized the remaining $196 million of deferred revenue into income.

2023 2024 2025
1st<br> Q 2nd<br> Q 3rd<br> Q 4th<br> Q TOTAL 1st<br> Q 2nd<br> Q 3rd<br> Q 4th<br> Q TOTAL 1st<br> Q 2nd<br> Q 3rd<br> Q 4th<br> Q TOTAL
Impairment<br> of Fisker related net assets - - - - - 261 19 7 43 330 - - - - -
Impairment<br> of Fisker warrants 22 13 (18 ) 93 110 33 - - - 33 - - - - -
Additional<br> restructuring related to Complete Vehicles - - - - - 22 - - 9 31 - - - - -
Recognition<br> of related deferred revenue - - - - - - - (196 ) - (196 ) - - - - -
22 13 (18 ) 93 110 316 19 (189 ) 52 198 - - - - -
[e] Gain on business combination
--- ---

During 2024, the Company acquired a business in the Body Exteriors & Structures segment for $5 million, resulting in a bargain purchase gain of $9 million.

[f] Veoneer AS transaction costs

During 2023, the Company incurred $23 million of transaction costs related to the acquisition of the Veoneer Active Safety Business.

[g] Operations in Russia

As a result of the expected lack of future cashflows and the continuing uncertainties connected with the Russian economy, during 2023, the Company completed the sale of all of its investments in Russia resulting in a final loss of $16 million including a net cash outflow of $23 million.

| Q4 2025 Financial Review of Magna International Inc. | Page 4 of 7 | Prepared as at 2/9/2026 |

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Note 2: NON-GAAP MEASURES

The Company presents Adjusted EBIT (Earnings before interest, taxes, Other expense (income), net and amortization of acquired intangible assets); Adjusted Net Income (Net Income before Other expense (income), net, net of tax excluding significant income tax valuation allowance adjustments, and amortization of acquired intangible assets); Adjusted Diluted Earnings per Share; Adjusted EBIT as a percentage of sales; Free Cash Flow; Adjusted Return on Invested Capital; and Adjusted Debt to Adjusted EBITDA. The Company presents these financial figures because such measures are widely used by analysts and investors in evaluating the operating performance of the Company.  However, such measures do not have any standardized meaning under U.S. generally accepted accounting principles and may not be comparable to the calculation of similar measures by other companies.

The following table reconcilesIncome from operations before income taxes to Adjusted EBIT:

2023 2024 2025
1st<br> Q 2nd<br> Q 3rd<br> Q 4th<br> Q TOTAL 1st<br> Q 2nd<br> Q 3rd<br> Q 4th<br> Q TOTAL 1st<br> Q 2nd<br> Q 3rd<br> Q 4th<br> Q TOTAL
Income<br> from operations before income taxes 275 483 538 310 1,606 34 427 700 381 1,542 225 496 473 114 1,308
Exclude:
Amortization<br> of acquired intangible assets 12 13 32 31 88 28 28 28 28 112 26 29 27 29 111
Other<br> expense (income), net 142 86 (4 ) 164 388 356 68 (188 ) 228 464 53 6 48 629 736
Interest<br> expense, net 20 34 49 53 156 51 54 54 52 211 50 52 65 42 209
Adjusted<br> EBIT 449 616 615 558 2,238 469 577 594 689 2,329 354 583 613 814 2,364

The following table shows the calculation of Adjusted Return on Invested Capital:

2023 2024 2025
1st<br> Q 2nd<br> Q 3rd<br> Q 4th<br> Q FY 1st<br> Q 2nd<br> Q 3rd<br> Q 4th<br> Q FY 1st<br> Q 2nd<br> Q 3rd<br> Q 4th<br> Q TOTAL
Net<br> income 217 354 417 298 1,286 26 328 508 234 1,096 153 394 333 3 883
Add<br> (deduct):
Interest<br> expense, net 20 34 49 53 156 51 54 54 52 211 50 52 65 42 209
Amortization<br> of acquired intangible assets 12 13 32 31 88 28 28 28 28 112 26 29 27 29 111
Other<br> expense (income), net 142 86 (4 ) 164 388 356 68 (188 ) 228 464 53 6 48 629 736
Tax effect on Interest expense, net,<br>Amortization of acquired intangible assets and Other expense,<br>net (38 ) (4 ) (14 ) (46 ) (103 ) (93 ) (32 ) 30 (38 ) (133 ) (19 ) (18 ) (22 ) (48 ) (107 )
Adjustments<br> to Deferred Tax Valuation Allowances - - - (47 ) (47 ) - - - 51 51 - - - - -
Adjusted<br> After-tax operating profits 353 483 480 453 1,768 368 446 432 555 1,801 263 463 451 655 1,832
Total<br> Assets 30,654 31,837 31,675 32,255 32,678 31,986 32,790 31,039 32,074 33,175 32,907 31,417
Excluding:
Cash<br> and cash equivalents (2,429 ) (1,281 ) (1,022 ) (1,198 ) (1,517 ) (999 ) (1,061 ) (1,247 ) (1,059 ) (1,536 ) (1,327 ) (1,612 )
Deferred<br> tax assets (506 ) (535 ) (527 ) (621 ) (753 ) (807 ) (811 ) (819 ) (862 ) (902 ) (920 ) (864 )
Less<br> Current Liabilities (12,045 ) (13,358 ) (13,165 ) (13,234 ) (13,566 ) (12,449 ) (12,600 ) (12,097 ) (13,068 ) (12,350 ) (12,059 ) (10,989 )
Excluding:
Short-term<br> borrowing 4 150 2 511 838 848 828 271 614 349 433 -
Long-term<br> debt due within one year 668 1,426 1,398 819 824 65 65 708 1,005 706 33 27
Current<br> portion of operating lease liabilities 285 303 384 399 306 306 319 293 305 318 323 328
Invested<br> Capital 16,631 18,542 18,745 18,931 18,810 18,950 19,530 18,148 19,009 19,760 19,390 18,307
Adjusted<br> After-tax operating profits 353 483 480 453 1,768 368 446 432 555 1,801 263 463 451 655 1,832
Average<br> Invested Capital 16,318 17,587 18,644 18,838 17,771 18,871 18,880 19,240 18,839 18,875 18,579 19,385 19,575 18,849 18,923
Adjusted<br> Return on Invested Capital 8.7 % 11.0 % 10.3 % 9.6 % 9.9 % 7.8 % 9.4 % 9.0 % 11.8 % 9.5 % 5.7 % 9.6 % 9.2 % 13.9 % 9.7 % 
| Q4 2025 Financial Review of Magna International Inc. | Page 5 of 7 | Prepared as at 2/9/2026 |

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Note 2: NON-GAAP MEASURES (Continued)

The following table reconcilesNet income attributable to Magna International Inc. to Adjusted net income attributable to Magna International Inc.:

2023 2024 2025
1st<br> Q 2nd<br> Q 3rd<br> Q 4th<br> Q TOTAL 1st<br> Q 2nd<br> Q 3rd<br> Q 4th<br> Q TOTAL 1st<br> Q 2nd<br> Q 3rd<br> Q 4th<br> Q TOTAL
Net<br> income attributable to Magna International Inc. 209 339 394 271 1,213 9 313 484 203 1,009 146 379 305 (1 ) 829
Exclude:
Amortization<br> of acquired intangible assets 10 11 25 25 71 22 23 22 22 89 21 24 22 26 93
Impairments - - - - - - - - 79 79 - - - 578 578
Restructuring<br> activities 92 (26 ) (2 ) 60 124 32 45 - 82 159 44 9 46 15 114
Investment<br> revaluations, (gains) losses on sales, and impairments 2 85 (1 ) 4 90 1 2 3 6 12 8 (5 ) 2 (1 ) 4
Impacts<br> related to Fisker Inc. [“Fisker”] 16 10 (13 ) 70 83 247 15 (140 ) 39 161 - - - - -
Gain<br> on business combination - - - - - - (9 ) - - (9 ) - - - - -
Veoneer<br> AS transaction costs - 22 - - 22 - - - - - - - - - -
Operations<br> in Russia - - 16 - 16 - - - - - - - - - -
Adjustments<br> to Deferred Tax Valuation Allowance [iii] - - - (47 ) (47 ) - - - 51 51 - - - - -
Adjusted<br> net income attributable to Magna International Inc. 329 441 419 383 1,572 311 389 369 482 1,551 219 407 375 617 1,618

The following table reconciles dilutedearnings per common share to Adjusted diluted earnings per common share [iv]:

2023 2024 2025
1st<br> Q 2nd<br> Q 3rd<br> Q 4th<br> Q TOTAL 1st<br> Q 2nd<br> Q 3rd<br> Q 4th<br> Q TOTAL 1st<br> Q 2nd<br> Q 3rd<br> Q 4th<br> Q TOTAL
Diluted<br> earnings per common share $ 0.73 $ 1.18 $ 1.37 $ 0.94 $ 4.23 $ 0.03 $ 1.09 $ 1.68 $ 0.71 $ 3.52 $ 0.52 1.35 1.08 $ - $ 2.93
Exclude:
Amortization<br> of acquired intangible assets 0.04 0.04 0.09 0.09 0.25 0.08 0.08 0.08 0.08 0.31 0.08 0.08 0.08 0.09 0.34
Impairments - - - - - - - - 0.28 0.28 - - - 2.04 2.05
Restructuring<br> activities 0.31 (0.09 ) - 0.20 0.43 0.11 0.15 - 0.29 0.55 0.15 0.03 0.16 0.05 0.40
Investment<br> revaluations, (gains) losses on sales, and impairments 0.01 0.30 (0.01 ) 0.01 0.31 - 0.01 0.01 0.01 0.04 0.03 (0.02 ) 0.01 - 0.01
Impacts<br> related to Fisker Inc. [“Fisker”] 0.06 0.03 (0.05 ) 0.25 0.29 0.86 0.05 (0.49 ) 0.14 0.56 - - - - -
Gain<br> on business combination - - - - - - (0.03 ) - - (0.03 ) - - - - -
Veoneer<br> AS transaction costs - 0.08 - - 0.08 - - - - - - - - - -
Operations<br> in Russia - - 0.06 - 0.06 - - - - - - - - - -
Adjustments<br> to Deferred Tax Valuation Allowance [iii] - - - (0.16 ) (0.16 ) - - - 0.18 0.18 - - - - -
Adjusted<br> diluted earnings per common share $ 1.15 $ 1.54 $ 1.46 $ 1.33 $ 5.49 $ 1.08 $ 1.35 $ 1.28 $ 1.69 $ 5.41 $ 0.78 $ 1.44 $ 1.33 $ 2.18 $ 5.73

[iii] Adjustments to Deferred Tax Valuation Allowance

The Company records quarterly adjustments to the valuation allowance against its deferred tax assets and liabilities in continents like North America, Europe, Asia, and South America. The net effect of these adjustments is an increase to income tax expense in the fourth quarter of 2024 and a reduction in the fourth quarter of 2023.

[iv] For the fourth quarter of 2025, the Company generated Adjusted Net Income attributable to Magna International Inc. while reporting a net loss attributable to Magna International Inc. As a result, certain stock-based compensation awards have a dilutive effect for adjusted diluted earnings per share and are included in the adjusted diluted weighted average number of Common Shares. The dilutive effect of these awards increased the adjusted diluted weighted average number of Common Shares by 1.5 million, from 282.5 million to 282.7 million.

| Q4 2025 Financial Review of Magna International Inc. | Page 6 of 7 | Prepared as at 2/9/2026 |

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Note 2: NON-GAAP MEASURES (Continued)

The following table shows the calculationof Rating Agency Adjusted Debt to Adjusted EBITDA:

2023 2024 2025
1st<br> Q 2nd<br> Q 3rd<br> Q 4th<br> Q 1st<br> Q 2nd<br> Q 3rd<br> Q 4th<br> Q 1st<br> Q 2nd<br> Q 3rd<br> Q 4th<br> Q
Debt<br> per balance sheet 6,775 7,383 7,208 7,223 7,924 7,460 7,586 7,068 7,558 8,116 7,478 6,689
Long-Term<br> Employee Benefit Liabilities [i] 148 148 148 125 125 125 125 127 127 127 127 131
Adjusted<br> Debt [A] 6,923 7,531 7,356 7,348 8,049 7,585 7,711 7,195 7,685 8,243 7,605 6,820
Rolling<br> four quarter Adjusted EBITDA 3,007 3,258 3,449 3,674 3,718 3,699 3,704 3,839 3,716 3,737 3,761 3,911
Capitalized<br> operating lease expense [i] 344 344 344 353 353 353 353 410 410 410 410 428
Pension<br> adjustment [i],<br> [ii] (6 ) (6 ) (6 ) 4 4 4 4 (20 ) (20 ) (20 ) (20 ) 6
Interest<br> income [i] 45 45 45 86 86 86 86 98 98 98 98 66
Rolling<br> four quarter cash portion of other expense, net (227 ) (200 ) (198 ) (152 ) (94 ) (161 ) (149 ) (219 ) (203 ) (161 ) (196 ) (106 )
[B] 3,163 3,441 3,634 3,965 4,067 3,981 3,998 4,108 4,001 4,064 4,053 4,305
Adjusted<br> Debt to Adjusted EBITDA [A]<br> / [B] 2.19 x 2.19 x 2.02 x 1.85 x 1.98 x 1.91 x 1.93 x 1.75 x 1.92 x 2.03 x 1.88 x 1.58 x

[i]    The long-term employee benefit liabilities, capitalized operating lease expense, interest income and pension adjustment figures included in the Adjusted EBITDA calculations are based on the annual figures for the years ended December 31, 2025, December 31, 2024, December 31, 2023 and December 31, 2022, respectively.

[ii]   Pension adjustment calculated as Net Periodic Pension Benefit Cost less Current Service Cost for defined benefit pension plans.

Thefollowing table reconciles cash provided from operating activities to Free Cash Flow:

2023 2024 2025
1st<br> Q 2nd<br> Q 3rd<br> Q 4th<br> Q TOTAL 1st<br> Q 2nd<br> Q 3rd<br> Q 4th<br> Q TOTAL 1st<br> Q 2nd<br> Q 3rd<br> Q 4th<br> Q TOTAL
Cash<br> provided from operating activities 227 547 797 1,578 3,149 261 736 727 1,910 3,634 77 627 912 1,982 3,598
Add<br> (deduct):
Fixed<br> asset additions (424 ) (502 ) (630 ) (944 ) (2,500 ) (493 ) (500 ) (476 ) (709 ) (2,178 ) (268 ) (246 ) (267 ) (532 ) (1,313 )
Increase<br> in investments, other assets and intangible assets (101 ) (96 ) (176 ) (189 ) (562 ) (125 ) (170 ) (115 ) (207 ) (617 ) (148 ) (94 ) (100 ) (157 ) (499 )
Proceeds<br> from disposition 19 44 32 27 122 87 57 38 37 219 26 14 27 54 121
Free<br> Cash Flow (279 ) (7 ) 23 472 209 (270 ) 123 174 1,031 1,058 (313 ) 301 572 1,347 1,907

Note 3:   SEGMENTED INFORMATION

2023 2024 2025
1st<br> Q 2nd<br> Q 3rd<br> Q 4th<br> Q TOTAL 1st<br> Q 2nd<br> Q 3rd<br> Q 4th<br> Q TOTAL 1st<br> Q 2nd<br> Q 3rd<br> Q 4th<br> Q TOTAL
Body<br> Exteriors & Structures
Sales 4,439 4,540 4,354 4,178 17,511 4,429 4,465 4,038 4,067 16,999 3,966 4,253 4,147 4,252 16,618
Adjusted<br> EBIT 272 394 358 280 1,304 298 341 273 371 1,283 230 347 305 465 1,347
Adjusted<br> EBIT as a percentage of sales 6.1 % 8.7 % 8.2 % 6.7 % 7.4 % 6.7 % 7.6 % 6.8 % 9.1 % 7.5 % 5.8 % 8.2 % 7.4 % 10.9 % 8.1 %
Power &<br> Vision
Sales 3,323 3,462 3,745 3,775 14,305 3,842 3,926 3,837 3,786 15,391 3,646 3,857 3,854 3,841 15,198
Adjusted<br> EBIT 92 124 221 231 668 98 198 279 235 810 124 162 236 166 688
Adjusted<br> EBIT as a percentage of sales 2.8 % 3.6 % 5.9 % 6.1 % 4.7 % 2.6 % 5.0 % 7.3 % 6.2 % 5.3 % 3.4 % 4.2 % 6.1 % 4.3 % 4.5 %
Seating<br> Systems
Sales 1,486 1,603 1,529 1,429 6,047 1,455 1,455 1,379 1,511 5,800 1,312 1,433 1,520 1,633 5,898
Adjusted<br> EBIT 37 67 70 44 218 52 53 51 67 223 (30 ) 42 62 136 210
Adjusted<br> EBIT as a percentage of sales 2.5 % 4.2 % 4.6 % 3.1 % 3.6 % 3.6 % 3.6 % 3.7 % 4.4 % 3.8 % -2.3 % 2.9 % 4.1 % 8.3 % 3.6 %
Complete<br> Vehicles
Sales 1,626 1,526 1,185 1,201 5,538 1,383 1,242 1,159 1,402 5,186 1,276 1,226 1,085 1,261 4,848
Adjusted<br> EBIT 52 34 (5 ) 43 124 27 20 27 56 130 44 28 29 50 151
Adjusted<br> EBIT as a percentage of sales 3.2 % 2.2 % -0.4 % 3.6 % 2.2 % 2.0 % 1.6 % 2.3 % 4.0 % 2.5 % 3.4 % 2.3 % 2.7 % 4.0 % 3.1 %
Corporate<br> and other
Intercompany<br> eliminations (201 ) (149 ) (125 ) (129 ) (604 ) (139 ) (130 ) (133 ) (138 ) (540 ) (131 ) (138 ) (144 ) (139 ) (552 )
Adjusted<br> EBIT (4 ) (3 ) (29 ) (40 ) (76 ) (6 ) (35 ) (36 ) (40 ) (117 ) (14 ) 4 (19 ) (3 ) (32 )
Total
Sales 10,673 10,982 10,688 10,454 42,797 10,970 10,958 10,280 10,628 42,836 10,069 10,631 10,462 10,848 42,010
Adjusted<br> EBIT 449 616 615 558 2,238 469 577 594 689 2,329 354 583 613 814 2,364
Adjusted<br> EBIT as a percentage of sales 4.2 % 5.6 % 5.8 % 5.3 % 5.2 % 4.3 % 5.3 % 5.8 % 6.5 % 5.4 % 3.5 % 5.5 % 5.9 % 7.5 % 5.6 % 
| Q4 2025 Financial Review of Magna International Inc. | Page 7 of 7 | Prepared as at 2/9/2026 |

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