Exhibit 99.1

PRESS RELEASE

AURORA, Ontario, August 1, 2025 — Magna International Inc. (TSX: MG; NYSE: MGA) today reported financial results for the second quarter ended June 30, 2025.

"Our strong operating results for the second quarter of 2025 exceeded our expectations and reflect continued execution on our performance initiatives, including operational excellence, restructuring, commercial recoveries, and reduced capital and engineering spending.   Looking ahead, our updated 2025 Outlook indicates that we are on track for further solid execution in the second half of 2025, despite ongoing industry headwinds including soft volumes in North America and Europe and continued trade policy uncertainty.”   - Swamy Kotagiri, Magna’s Chief Executive Officer

All results are reported in millions of U.S. dollars, except per share figures, which are in U.S. dollars

THREE MONTHS ENDED JUNE 30, 2025

We posted sales of $10.6 billion for the second quarter of 2025, a decrease of 3% from the second quarter of 2024. The lower sales largely reflects:

These factors were partially offset by:

Adjusted EBIT increased to $583 million in the second quarter of 2025 compared to $577 million in the second quarter of 2024. This mainly reflects:

These were partially offset by:

During the second quarter of 2025, Other expense, net(2) and Amortization of acquired intangibles totaled $35 million (2024 - $96 million) and on an after-tax basis $28 million (2024 - $76 million).

Income from operations before income taxes increased to $496 million for the second quarter of 2025 compared to $427 million in the second quarter of 2024. Excluding Other expense, net and Amortization of acquired intangibles from both periods, income from operations before income taxes increased $8 million in the second quarter of 2025 compared to the second quarter of 2024, largely reflecting the increase in Adjusted EBIT.

Net income attributable to Magna International Inc. was $379 million for the second quarter of 2025 compared to $313 million in the second quarter of 2024. Excluding Other expense, net, after tax and Amortization of acquired intangibles from both periods, net income attributable to Magna International Inc. increased $18 million in the second quarter of 2025 compared to the second quarter of 2024.

Diluted earnings per share were $1.35 in the second quarter of 2025, compared to $1.09 in the comparable period. Adjusted diluted earnings per share were $1.44, compared to $1.35 for the second quarter of 2024.

In the second quarter of 2025, we generated cash from operations before changes in operating assets and liabilities of $762 million and used $135 million in operating assets and liabilities. Investment activities for the second quarter of 2025 included $246 million in fixed asset additions, $94 million in investments, other assets and intangible assets, and $3 million in private equity investments.

SIX MONTHS ENDED JUNE 30, 2025

We posted sales of $20.7 billion for the six months ended June 30, 2025, compared to $21.9 billion for the six months ended June 30, 2024. The lower sales largely reflects:

These were partially offset by the launch of new programs.

Adjusted EBIT decreased to $937 million for the six months ended June 30, 2025 compared to $1,046 million for six months ended June 30, 2024 primarily due to:

These were partially offset by:

During the six months ended June 30, 2025, income from operations before income taxes was $721 million, net income attributable to Magna International Inc. was $525 million and diluted earnings per share were $1.86, increases of $260 million, $203 million, and $0.74, respectively, each compared to the six months ended June 30, 2024.

During the six months ended June 30, 2025, diluted earnings per share were $1.86, compared to $1.12 in the six months ended June 30, 2024. Adjusted diluted earnings per share were $2.22, compared to $2.44 for the six months ended June 30, 2024.

During the six months ended June 30, 2025, we generated cash from operations before changes in operating assets and liabilities of $1.31 billion and used $605 million in operating assets and liabilities. Investment activities included $514 million in fixed asset additions, a $242 million increase in investments, other assets and intangible assets, and $4 million in public and private equity investments.

RETURN OF CAPITAL TO SHAREHOLDERS

During the three months ended June 30, 2025, we paid $137 million in dividends to shareholders.

Our Board of Directors declared a second quarter dividend of $0.485 per Common Share, payable on August 29, 2025 to shareholders of record as of the close of business on August 15, 2025.

SEGMENT SUMMARY

For further details on our segment results, please see our Management's Discussion and Analysis of Results of Operations and Financial Position and our Interim Financial Statements.

2025 OUTLOOK

We disclose a full-year Outlook annually in February with quarterly updates. The following Outlook is an update to our previous Outlook in May 2025.

Updated 2025 Outlook Assumptions

Light vehicle production assumptions reflect near-term original equipment manufacturer ["OEM"] production release information, including announced production downtime at certain OEM assembly facilities, but do not include the potential impact of tariffs and other trade measures on vehicle costs, vehicle affordability or consumer demand, nor the impact of these on vehicle production.

Updated 2025 Outlook

Notes

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 2025 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: OEM, supplier or sub-supplier disruptions; free trade arrangements and tariffs; 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; uncertainty as to the pace of EV adoption; and other factors.

NON-GAAP FINANCIAL MEASURES RECONCILIATION

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. 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:

Adjusted EBIT

Adjusted EBIT as a percentage of sales (“Adjusted EBIT margin”)

Adjusted diluted earnings per share

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 second quarter ended June 30, 2025 results on Friday, August 1, 2025 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, financial results, vehicle production

INVESTOR CONTACT

Louis Tonelli, Vice-President, Investor Relations

louis.tonelli@magna.com | 905.726.7035

MEDIA CONTACT

Tracy Fuerst, Vice-President, Corporate Communications & PR

tracy.fuerst@magna.com | 248.761.7004

TELECONFERENCE CONTACT

Nancy Hansford, Executive Assistant, Investor Relations

nancy.hansford@magna.com | 905.726.7108

OUR BUSINESS(6)

Magna is more than one of the world’s largest suppliers in the automotive space. We are a mobility technology company built to innovate, with a global, entrepreneurial-minded team of approximately 164,000(7) employees across 338 manufacturing operations and 106 product development, engineering and sales centres spanning 28 countries. With 65+ years of expertise, our ecosystem of interconnected products combined with our complete vehicle expertise uniquely positions us to advance mobility in an expanded transportation landscape.

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

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:

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:

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:

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.

Exhibit 99.2 

MAGNA INTERNATIONAL INC.

Management's Discussion and Analysis of Results of Operations and Financial Position

Unless otherwise noted, all amounts in this Management's Discussion and Analysis of Results 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 entities, unless the context otherwise requires.

This MD&A should be read in conjunction with the unaudited interim consolidated financial statements for the three and six months ended June 30, 2025 included in this Quarterly Report, and the audited consolidated financial statements and MD&A for the year ended December 31, 2024 included in our 2024 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 July 31, 2025.

HIGHLIGHTS

Comparing the second quarters of 2025 and 2024:

In addition, in the second quarter of 2025 we:

OVERVIEW

OUR BUSINESS(2)

Magna is more than one of the world’s largest suppliers in the automotive space. We are a mobility technology company built to innovate, with a global, entrepreneurial-minded team of over 164,000(3) employees across 338 manufacturing operations and 106 product development, engineering and sales centres spanning 28 countries. With 65+ years of expertise, our ecosystem of interconnected products combined with our complete vehicle expertise uniquely positions us to advance mobility in an expanded transportation landscape. For further information about Magna (NYSE:MGA; TSX:MG), please visit www.magna.com or follow us on social.

1 Adjusted diluted earnings per share is a Non-GAAP financial measure. Refer to the section "Use of Non-GAAP Measures".

2 Manufacturing operations, product development, engineering and sales centres include certain operations accounted for under the equity method.

3 Number of employees includes over 152,000 employees at our wholly owned or controlled entities and over 12,000 employees at operations accounted for under the equity method.

INDUSTRY TRENDS & RISKS

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 original equipment manufacturers ["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: OEM, supplier or sub-supplier disruptions; free trade arrangements and tariffs; 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; uncertainty as to the pace of EV adoption; and other factors.

While the foregoing economic, political and other factors are part of the general context in which the global automotive industry operates, there are a number of significant industry trends that are shaping the future of the industry and creating opportunities and risks for automotive suppliers. We continue to implement a business strategy which is rooted in our best assessment as to the rate and direction of change in the automotive industry, including with respect to the imposition of tariffs on vehicles and components or materials incorporated therein and trends related to vehicle electrification and advanced driver assistance systems. Our short and medium-term operational success, as well as our ability to create long-term value through our business strategy, are subject to a number of risks and uncertainties. Significant industry trends, our business strategy and the major risks we face, are discussed in our Annual Information Form ["AIF"] and Annual Report on Form 40-F ["Form 40-F"] in respect of the year ended December 31, 2024, together with subsequent filings. Those industry trends and risk factors remain substantially unchanged in respect of the second quarter ended June 30, 2025, except as follows:

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, Adjusted diluted earnings per share, 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 through the same financial measures employed by our management. Readers should be aware that Non-GAAP Measures have no standardized meaning under U.S. GAAP and accordingly may not be comparable to the calculation of similar measures by other companies. We believe that Adjusted EBIT, Adjusted EBIT as a percentage of sales, Adjusted diluted earnings per share, and Adjusted Return on Invested Capital provide useful information to our investors for measuring our operational performance as they exclude certain items that are not reflective of ongoing operating profit and facilitate a comparison with prior periods. The presentation of any Non-GAAP Measures should not be considered in isolation or as a substitute for our related financial results prepared in accordance with U.S. GAAP. Non-GAAP financial measures are presented together with the most directly comparable U.S. GAAP financial measure, and a reconciliation to the most directly comparable U.S. GAAP financial measure, can be found in the "Non-GAAP Financial Measures Reconciliation" section of this MD&A.

RESULTS OF OPERATIONS

AVERAGE FOREIGN EXCHANGE

The preceding table reflects the average foreign exchange rates between the most common currencies in which we conduct business and our U.S. dollar reporting currency.

The results of operations for which the functional currency is not the U.S. dollar are translated into U.S. dollars using the average exchange rates for the relevant period. Throughout this MD&A, reference is made to the impact of translation of foreign operations on reported U.S. dollar amounts where relevant.

Our results can also be affected by the impact of movements in exchange rates on foreign currency transactions (such as raw material purchases or sales denominated in foreign currencies). However, as a result of hedging programs employed by us, foreign currency transactions in the current period have not been fully impacted by movements in exchange rates. We record foreign currency transactions at the hedged rate where applicable.

Finally, foreign exchange gains and losses on revaluation and/or settlement of monetary items denominated in a currency other than an operation's functional currency impact reported results. These gains and losses are recorded in selling, general and administrative expense.

LIGHT VEHICLE PRODUCTION VOLUMES

Our operating results are mostly dependent on light vehicle production in the regions reflected in the table below:

Light Vehicle Production Volumes (thousands of units)

RESULTS OF OPERATIONS – FOR THE THREE MONTHS ENDED JUNE 30, 2025

SALES

Sales decreased 3%, or $327 million, to $10.63 billion for the second quarter of 2025 compared to $10.96 billion for the second quarter of 2024 primarily due to:

These factors were partially offset by:

COST OF GOODS SOLD

Cost of goods sold decreased $367 million to $9.13 billion for the second quarter of 2025, compared to $9.49 billion for the second quarter of 2024, primarily due to:

These factors were partially offset by:

DEPRECIATION

Depreciation increased $15 million to $388 million for the second quarter of 2025, compared to $373 million for the second quarter of 2024, primarily due to:

These factors were partially offset by the end of production of certain programs.

AMORTIZATION OF ACQUIRED INTANGIBLE ASSETS

Amortization of acquired intangible assets increased $1 million to $29 million for the second quarter of 2025, compared to $28 million for the second quarter of 2024, primarily due to the net strengthening of foreign currencies against the U.S. dollar.

SELLING, GENERAL AND ADMINISTRATIVE ["SG&A"]

SG&A expense increased $42 million to $565 million for the second quarter of 2025, compared to $523 million for the second quarter of 2024, primarily as a result of:

These factors were partially offset by:

INTEREST EXPENSE, NET

During the second quarter of 2025, we recorded net interest expense of $52 million compared to $54 million for the second quarter of 2024. The $2 million decrease is primarily a result of lower interest expense on decreased short-term borrowings and term loan balances, each at lower interest rates. These factors were partially offset by: lower interest income earned on cash and investments due to reduced cash balances and lower interest rates; and higher net interest expense on Senior notes issued compared to Senior notes repaid during the second quarters of 2025 and 2024.

EQUITY INCOME

Equity income increased $23 million to $32 million for the second quarter of 2025, compared to $9 million for the second quarter of 2024, primarily as a result of:

OTHER EXPENSE, NET

During the second quarter of 2025, we recorded $7 million and $6 million of charges [$9 million after tax] related to significant rightsizing activities at a facility in Europe in our Power & Vision segment, as well as restructuring charges associated with our acquisition of the Veoneer Active Safety Business ["Veoneer AS"], respectively.

During the second quarter of 2024, we recorded $35 million and $20 million [$45 million after tax] of restructuring charges associated with our acquisition of Veoneer AS, and restructuring charges related to plant closures in our Power & Vision segment, respectively.

During the second quarter of 2024, we recorded impairment charges on our Fisker related net assets of $19 million [$15 million after tax].

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

INCOME FROM OPERATIONS BEFORE INCOME TAXES

Income from operations before income taxes was $496 million for the second quarter of 2025, compared to $427 million for the second quarter of 2024. This $69 million increase is a result of the following changes, each as discussed above:

INCOME TAXES

Excluding the tax effect on Other expense, net and Amortization of acquired intangible assets, our effective income tax rate decreased to 20.5% for the second quarter of 2025, compared to 22.8% for the second quarter of 2024, primarily due to: favourable foreign exchange adjustments recognized for U.S. GAAP purposes; and higher favourable changes in our reserves for uncertain tax positions. These factors were partially offset by losses not benefitted in Europe, lower non-taxable items, and a change in mix of earnings.

On July 4, 2025, the US enacted H.R. 1 "A bill to provide for reconciliation pursuant to Title II of H. Con. Res. 14", commonly referred to as the One Big Beautiful Bill Act. Based on our preliminary assessment, the impact on Magna’s consolidated financial statements is not expected to be material and its effects are not reflected in our income tax provision as of June 30, 2025.

INCOME ATTRIBUTABLE TO NON-CONTROLLING INTERESTS

Income attributable to non-controlling interests was $15 million for the second quarters of 2025 and 2024.

NET INCOME ATTRIBUTABLE TO MAGNA INTERNATIONAL INC.

Net income attributable to Magna International Inc. was $379 million for the second quarter of 2025, compared to $313 million for the second quarter of 2024. This $66 million increase was as a result of increases in income from operations before income taxes of $69 million, partially offset by an increase in income taxes of $3 million.

EARNINGS PER SHARE

Diluted earnings per share was $1.35 for the second quarter of 2025, compared to diluted earnings per share of $1.09 for the second quarter of 2024. The $0.26 increase was substantially as a result of: higher net income attributable to Magna International Inc., as discussed above; and a decrease in the weighted average number of diluted shares outstanding. The decrease in the weighted average number of diluted shares outstanding was primarily due to the purchase and cancellation of Common Shares, subsequent to the second quarter of 2024, pursuant to our normal course issuer bids.

Other expense, net, and the Amortization of acquired intangible assets, each after tax, negatively impacted diluted earnings per share by $0.09 in the second quarter of 2025 and $0.26 in the second quarter of 2024. Adjusted diluted earnings per share, as reconciled in the "Non-GAAP Financial Measures Reconciliation" section, was $1.44 for the second quarter of 2025, compared to $1.35 for the second quarter of 2024, an increase of $0.09.

NON-GAAP PERFORMANCE MEASURES – FOR THE THREE MONTHS ENDED JUNE 30, 2025

ADJUSTED EBIT AS A PERCENTAGE OF SALES

The table below shows the change in Magna's Sales and Adjusted EBIT by segment, as well as the impact each segment's changes had on Magna's Adjusted EBIT as a percentage of sales, for the second quarter of 2025 compared to the second quarter of 2024:

Adjusted EBIT as a percentage of sales increased to 5.5% for the second quarter of 2025, compared to 5.3% for the second quarter of 2024, primarily due to:

These factors were partially offset by:

ADJUSTED RETURN ON INVESTED CAPITAL

Adjusted Return on Invested Capital increased to 9.6% for the second quarter of 2025, compared to 9.4% for the second quarter of 2024, as a result of an increase in Adjusted After-tax operating profits, partially offset by higher Average Invested Capital.

Average Invested Capital increased $505 million to $19.39 billion for the second quarter of 2025, compared to $18.88 billion for the second quarter of 2024, primarily due to:

These factors were partially offset by:

SEGMENT ANALYSIS

We are a global automotive supplier that has complete vehicle engineering and contract manufacturing expertise, as well as product capabilities which include body, chassis, exterior, seating, powertrain, active driver assistance, electronics, mechatronics, mirrors, lighting and roof systems. We also have electronic and software capabilities across many of these areas.

Our reporting segments are: Body Exteriors & Structures; Power & Vision; Seating Systems; and Complete Vehicles.

BODY EXTERIORS & STRUCTURES

Sales – Body Exteriors & Structures

Sales decreased 5%, or $212 million, to $4.25 billion for the second quarter of 2025, compared to $4.47 billion for the second quarter of 2024 primarily due to:

These factors were partially offset by:

Adjusted EBIT and Adjusted EBIT as a percentage of sales – Body Exteriors & Structures

Adjusted EBIT increased $6 million to $347 million for the second quarter of 2025, compared to $341 million for the second quarter of 2024, and Adjusted EBIT as a percentage of sales increased to 8.2% from 7.6%. These increases were primarily due to:

These factors were partially offset by:

POWER & VISION

Sales – Power & Vision

Sales decreased 2%, or $69 million, to $3.86 billion for the second quarter of 2025, compared to $3.93 billion for the second quarter of 2024 primarily due to:

These factors were partially offset by:

Adjusted EBIT and Adjusted EBIT as a percentage of sales – Power & Vision

Adjusted EBIT decreased $36 million to $162 million for the second quarter of 2025, compared to $198 million for the second quarter of 2024, and Adjusted EBIT as a percentage of sales decreased to 4.2% from 5.0%. These decreases were primarily due to:

These factors were partially offset by:

SEATING SYSTEMS

Sales – Seating Systems

Sales decreased 2%, or $22 million, to $1.43 billion for the second quarter of 2025, compared to $1.46 billion for the second quarter of 2024 primarily due to:

These factors were partially offset by:

Adjusted EBIT and Adjusted EBIT as a percentage of sales – Seating Systems

Adjusted EBIT decreased $11 million to $42 million for the second quarter of 2025, compared to $53 million for the second quarter of 2024, and Adjusted EBIT as a percentage of sales decreased to 2.9% from 3.6%. These decreases were primarily due to:

These factors were partially offset by:

COMPLETE VEHICLES

Sales – Complete Vehicles

Sales decreased 1%, or $16 million, to $1.23 billion for the second quarter of 2025, compared to $1.24 billion for the second quarter of 2024, and assembly volumes decreased 12%. The decrease in sales is substantially a result of: lower assembly volumes due to the end of production of the Jaguar I-Pace and Jaguar E-Pace; and commercial items in the second quarters of 2025 and 2024, which had a net unfavourable impact on a year-over-year basis. These factors were partially offset by: the launch of the electric version of the Mercedes-Benz G-Class during fourth quarter of 2024; and a $59 million increase in reported U.S. dollar sales as a result of the strengthening of the euro against the U.S. dollar.

Adjusted EBIT and Adjusted EBIT as a percentage of sales – Complete Vehicles

Adjusted EBIT increased $8 million to $28 million for the second quarter of 2025, compared to $20 million for the second quarter of 2024, and Adjusted EBIT as a percentage of sales increased to 2.3% from 1.6%. These increases were primarily due to:

These factors were partially offset by commercial items in the second quarters of 2025 and 2024, which had a net unfavourable impact on a year-over-year basis.

CORPORATE AND OTHER

Adjusted EBIT was $4 million for the second quarter of 2025 compared to a loss of $35 million for the second quarter of 2024. The $39 million improvement was primarily the result of:

These factors were partially offset by higher incentive and stock-based compensation.

FINANCIAL CONDITION, LIQUIDITY AND CAPITAL RESOURCES

OPERATING ACTIVITIES

Cash provided from operating activities

Comparing the second quarter of 2025 to 2024, cash provided from operating activities decreased by $109 million primarily as a result of:

These factors were partially offset by:

Changes in operating assets and liabilities

During the second quarter of 2025, we used $135 million for operating assets and liabilities primarily for:

These factors were partially offset by:

INVESTING ACTIVITIES

Cash used for investing activities in the second quarter of 2025 was $342 million lower compared to the second quarter of 2024. The change between the second quarter of 2025, and the second quarter of 2024, was primarily due to: a $254 million decrease in cash used for fixed assets; a $76 million decrease in cash used for investments, other assets and intangible assets; and the acquisition of HE System Electronic during the second quarter of 2024. These factors were partially offset by: lower proceeds from dispositions during the second quarter of 2025; and a $5 million increase in cash used for investments in public and private equity investments.

FINANCING ACTIVITIES

During the second quarter of 2025, we issued the following Senior Notes [the "Senior Notes"]:

Net cash proceeds received from the Senior Notes issuances was $1,042 million, which were issued for general corporate purposes, including the repayment of $300 million in Senior Notes on May 23, 2025.

The Senior Notes are unsecured obligations and do not include any financial covenants. We may redeem the Senior Notes in whole or in part at any time, and from time to time, at specified redemption prices determined in accordance with the terms of the indenture governing the Senior Notes. Refer to Note 9, "Debt" of our unaudited interim consolidated financial statements for the three and six months ended June 30, 2025.

Cash dividends paid per Common Share were $0.485 for the second quarter of 2025, compared to $0.475 for the second quarter of 2024.

Short-term borrowings decreased $297 million during the second quarter of 2025, primarily due to a $256 million decrease in notes outstanding under the U.S. commercial paper programs.

During the second quarter of 2025, we repaid $100 million of the 3-year tranche Term Loan.

FINANCING RESOURCES

Financial liabilities increased $1.05 billion to $8.12 billion as at June 30, 2025, primarily as a result of: the issuance of €575 million and $400 million of Senior Notes during the second quarter of 2025; renewing existing and entering into new operating lease agreements; and an increase in notes outstanding under the euro commercial paper program. These increases were partially offset by the repayments of $300 million in Senior Notes and $100 million of the 3-year tranche Term Loan during the second quarter of 2025.

CASH RESOURCES

In the second quarter of 2025, our cash resources increased by $0.5 billion to $1.5 billion, primarily as a result of cash provided from operating and financing activities, partially offset by cash used for investing activities. In addition to our cash resources at June 30, 2025, we had term and operating lines of credit totaling $4.7 billion, of which $3.8 billion was unused and available.

On July 8, 2025, we amended our syndicated, unsecured, delayed draw term loan (the "Term Loan") to reduce the 3-year tranche amount from $650 million to $350 million and extended the draw expiration date from July 12, 2025 to January 12, 2026. As at June 30, 2025, no amounts had been drawn under this 3-year tranche.

MAXIMUM NUMBER OF SHARES ISSUABLE

The following table presents the maximum number of shares that would be outstanding if all of the outstanding options at July 31, 2025 were exercised:

CONTRACTUAL OBLIGATIONS

There have been no material changes with respect to the contractual obligations requiring annual payments during the second quarter of 2025 that are outside the ordinary course of our business. Refer to our MD&A included in our 2024 Annual Report.

RESULTS OF OPERATIONS – FOR THE SIX MONTHS ENDED JUNE 30, 2025

BODY EXTERIORS & STRUCTURES

Sales – Body Exteriors & Structures

Sales decreased 8%, or $675 million, to $8.22 billion for the six months ended June 30, 2025, compared to $8.89 billion for the six months ended June 30, 2024, primarily due to:

These factors were partially offset by:

Adjusted EBIT and Adjusted EBIT as a percentage of sales – Body Exteriors & Structures

Adjusted EBIT decreased $62 million to $577 million for the six months ended June 30, 2025, compared to $639 million for the six months ended June 30, 2024, and Adjusted EBIT as a percentage of sales decreased to 7.0% from 7.2%. These decreases were primarily as a result of:

These factors were partially offset by:

POWER & VISION

Sales – Power & Vision

Sales decreased 3%, or $265 million, to $7.50 billion for the six months ended June 30, 2025, compared to $7.77 billion for the six months ended June 30, 2024, primarily due to:

These factors were partially offset by:

Adjusted EBIT and Adjusted EBIT as a percentage of sales – Power & Vision

Adjusted EBIT decreased $10 million to $286 million for the six months ended June 30, 2025, compared to $296 million for the six months ended June 30, 2024, and Adjusted EBIT as a percentage of sales was 3.8% for both periods. Factors decreasing Adjusted EBIT and impacting Adjusted EBIT as a percentage of sales included:

These factors were partially offset by:

SEATING SYSTEMS

Sales – Seating Systems

Sales decreased 6%, or $165 million, to $2.75 billion for the six months ended June 30, 2025, compared to $2.91 billion for the six months ended June 30, 2024, primarily due to:

These factors were partially offset by:

Adjusted EBIT and Adjusted EBIT as a percentage of sales – Seating Systems

Adjusted EBIT decreased $93 million to $12 million for the six months ended June 30, 2025, compared to $105 million for the six months ended June 30, 2024, and Adjusted EBIT as a percentage of sales decreased to 0.4% from 3.6%. These decreases were primarily due to:

These factors were partially offset by higher equity income.

COMPLETE VEHICLES

(i)      Vehicles produced at our Complete Vehicle operations are included in Europe Light Vehicle Production volumes.

Sales – Complete Vehicles

Sales decreased 5%, or $123 million, to $2.50 billion for the six months ended June 30, 2025, compared to $2.63 billion for the six months ended June 30, 2024, and assembly volumes decreased 18%. The decrease in sales is substantially a result of lower assembly volumes, including the end of production of the Jaguar I-Pace and Jaguar E-Pace. These factors were partially offset by: the launch of the electric version of the Mercedes-Benz G-Class during the fourth quarter of 2024; and a $21 million increase in reported U.S. dollar sales as a result of the strengthening of the euro against the U.S. dollar.

Adjusted EBIT and Adjusted EBIT as a percentage of sales – Complete Vehicles

Adjusted EBIT increased $25 million to $72 million for the six months ended June 30, 2025, compared to $47 million for the six months ended June 30, 2024, and Adjusted EBIT as a percentage of sales increased to 2.9% from 1.8%. These increases were primarily due to:

These factors were partially offset by:

CORPORATE AND OTHER

Adjusted EBIT was a loss of $10 million for the six months ended June 30, 2025, compared to a loss of $41 million for the six months ended June 30, 2024. The $31 million improvement was primarily the result of:

These factors were partially offset by

NON-GAAP PERFORMANCE MEASURES - FOR THE SIX MONTHS ENDED JUNE 30, 2025

ADJUSTED EBIT AS A PERCENTAGE OF SALES

The table below shows the change in Magna's Sales and Adjusted EBIT by segment, as well as the impact each segment's changes have on Magna's Adjusted EBIT as a percentage of sales, for the six months ended June 30, 2025 compared to the six months ended June 30, 2024:

Adjusted EBIT as a percentage of sales decreased to 4.5% for the six months ended June 30, 2025, compared to 4.8% for the six months ended June 30, 2024, primarily due to:

These factors were partially offset by:

ADJUSTED RETURN ON INVESTED CAPITAL

Adjusted Return on Invested Capital decreased to 7.7% for the six months ended June 30, 2025, compared to 8.6% for the six months ended June 30, 2024, as a result of a decrease in Adjusted After-tax operating profits and higher Average Invested Capital.

Average Invested Capital increased $75 million to $18.97 billion for the six months ended June 30, 2025, compared to $18.90 billion for the six months ended June 30, 2024, primarily due to:

These factors were partially offset by:

NON-GAAP FINANCIAL MEASURES RECONCILIATION

The reconciliation of Non-GAAP financial measures is as follows:

ADJUSTED EBIT

ADJUSTED EBIT AS A PERCENTAGE OF SALES

ADJUSTED DILUTED EARNINGS PER SHARE

ADJUSTED RETURN ON INVESTED CAPITAL

Adjusted Return on Invested Capital is calculated as Adjusted After-tax operating profits divided by Average Invested Capital for the period. Average Invested Capital for the three month period is averaged on a two-fiscal quarter basis and for the six month period is averaged on a three-fiscal quarter basis.