1、 Magna International Inc.First Quarter Report 2023 Magna International Inc.First Quarter Report 2023 1 MAGNA INTERNATIONAL INC.Managements Discussion and Analysis of Results of Operations and Financial Position Unless otherwise noted,all amounts in this Managements Discussion and Analysis of Results

2、 of Operations and Financial Position MD&A are in U.S.dollars and all tabular amounts are in millions of U.S.dollars,except per share figures,which are in U.S.dollars.When we use the terms we,us,our or Magna,we are referring to Magna International Inc.and its subsidiaries and jointly controlled enti

3、ties,unless the context otherwise requires.This MD&A should be read in conjunction with the unaudited interim consolidated financial statements for the three months ended March 31,2023 included in this Quarterly Report,and the audited consolidated financial statements and MD&A for the year ended Dec

4、ember 31,2022 included in our 2022 Annual Report to Shareholders.This MD&A may contain statements that are forward looking.Refer to the Forward-Looking Statements section in this MD&A for a more detailed discussion of our use of forward-looking statements.This MD&A has been prepared as at May 4,2023

5、.USE OF NON-GAAP FINANCIAL MEASURES In addition to results presented in accordance with accounting principles generally accepted in the United States of America U.S.GAAP,this report includes the use of Adjusted earnings before interest and taxes Adjusted EBIT,Adjusted EBIT as a percentage of sales,A

6、djusted diluted earnings per share,Return on Invested Capital and Adjusted Return on Invested Capital collectively,the Non-GAAP Measures.We believe these non-GAAP financial measures provide additional information that is useful to investors in understanding our underlying performance and trends thro