Forward Looking Statements

From time to time, we make written or verbal statements that constitute "forward-looking statements" within the meaning of applicable securities legislation, including, but not limited to, statements on this website relating to: operating improvements in our European operations; fourth quarter losses in our exteriors and interiors divisions; Magna’s expected consolidated sales, based on expected light vehicle production in North America and Europe; Magna’s expected production sales in the North America, Europe and Rest of World segments; complete vehicle assembly sales; consolidated operating margin; effective income tax rate; and fixed asset expenditures. The forward-looking information on this website is presented for the purpose of providing information about management's current expectations and plans and such information may not be appropriate for other purposes. Forward-looking statements may include financial and other projections, as well as statements regarding our future plans, 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", "believe", "intend", "plan", "forecast", "outlook", "project", "estimate" and similar expressions suggesting future outcomes or events to identify forward-looking statements. Any such 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. However, whether actual results and developments will conform with 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:

• the potential for a slower than anticipated economic recovery or a deterioration of economic conditions;
• production volume levels;
• the potential bankruptcy of a major automotive customer;
• the inability of sub-suppliers to timely accommodate demand for their parts;
• the impact of the insolvency or bankruptcy of a critical supplier;
• the highly competitive nature of the automotive parts supply business;
• a reduction in outsourcing by our customers or the loss of a material production or assembly program;
• the termination or non-renewal by our customers of any material production purchase order;
• a shift away from technologies in which we are investing;
• restructuring, downsizing and/or other significant non-recurring costs;
• impairment charges related to goodwill, long-lived assets and deferred tax assets;
• our ability to diversify our sales;
• shifts in market shares among vehicles or vehicle segments, or shifts away from vehicles on which we have significant content;
• our ability to shift our manufacturing footprint to take advantage of opportunities in growing markets;
• risks of conducting business in foreign countries, including China, India, Brazil, Russia and other growing markets;
• exposure to elevated commodities prices;
• the impact of potential disruptions in the capital and credit markets;
• uncertainty with respect to the financial condition of a number of governments, particularly in Europe;
• fluctuations in relative currency values;
• our ability to successfully identify, complete and integrate acquisitions;
• pricing pressures, including our ability to offset price concessions demanded by our customers;
• warranty and recall costs;
• our ability to compete successfully in non-automotive businesses in which we pursue opportunities;
• changes in our mix of earnings between jurisdictions with lower tax rates and those with higher tax rates, as well as our ability to fully benefit tax losses;
• other potential tax exposures;
• legal claims against us;
• work stoppages and labour relations disputes;
• changes in credit ratings assigned to us;
• changes in laws and governmental regulations;
• costs associated with compliance with environmental laws and regulations;
• our non-controlling interest in Magna E-Car Systems;
• our ability to recover our initial or any potential subsequent investment(s) in Magna E-Car Systems;
• and risks related to the electric vehicle industry itself; and

other factors set out in our Annual Information Form filed with securities commissions in Canada and our annual report on Form 40-F filed with the United States Securities and Exchange Commission, and subsequent filings. In evaluating forward-looking statements, we caution readers not to place undue reliance on any forward-looking statements and 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.

Unless otherwise required by applicable securities laws, we do not intend, nor do we undertake any obligation, to update or revise any forward-looking statements to reflect subsequent information, events, results or circumstances or otherwise.