Magna International Inc. today announced that it has established a pre-defined automatic securities purchase plan (the "Plan") with a designated broker to facilitate the purchase for cancellation of Common Shares under its current normal course issuer bid (the "Bid"). The Plan will be implemented effective April 2, 2018. Under the Plan, Magna has provided instructions and strict parameters regarding how its Common Shares may be purchased for cancellation during times when it would ordinarily not be permitted to purchase Common Shares due to regulatory restrictions or self-imposed black-out periods. We impose regular blackouts during the period commencing at 11:59 p.m. of the last day of each fiscal quarter to and including 48 hours after the public announcement of our quarterly or annual financial results. The Plan will terminate on the earliest of the date on which: (a) the purchase limit specified in the Plan has been reached, (b) we terminate the Plan in accordance with its terms, in which case we will issue a press release confirming such termination, and (c) the Bid terminates. Under the Bid, which commenced on November 15, 2017 and which terminates on November 14, 2018, we are authorized to purchase for cancellation up to 35,800,000 Common Shares. All such purchases of Common Shares under the Bid may be made: (i) on the Toronto Stock Exchange ("TSX") in accordance with the rules and policies of the TSX, (ii) on the New York Stock Exchange in compliance with Rule 10b-18 under the U.S. Securities Exchange Act of 1934, (iii) on other published markets, and/or (iv) pursuant to private agreements or specific share repurchase programs under issuer bid exemption orders issued by the Ontario Securities Commission. All such purchases are included in computing the number of Common Shares purchased under the Bid. As of March 26, 2018, the Corporation has repurchased 4,191,894 Common Shares under the Bid.