Q1 2020 Earnings Overview

Q1 2020 Adjusted EBIT % and Tax Rate Adjusted EBIT Margin % 6.8 -210BP Key Factors • · • 4.7 • • \\MAGNA COVID-19-200BP (-) Lower tooling contribution (-) Operational underperformance at a BES facility (-) Divestiture of FP&C (-) Lower incentive compensation and profit sharing (+) Favourable engineering resolution in CV (+) Favourable Mercedes Benz G-Class mix (+) Q1 2019 Q1 2020 Adjusted Effective Tax Rate % 23.7 34.7 Tax on foreign exchange gains reported for Mexican tax purposes but not for US GAAP 950 BP (-) Q1 2019 Q1 2020 16

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