Magna Announces 2017 Annual Meeting Results

AURORA, Ontario, May 11, 2017 /PRNewswire/ --

Magna International Inc. (TSX: MG; NYSE: MGA) today announced voting results from its 2017 annual meeting of shareholders. A total of 277,209,607 Common Shares or 72.69% of our issued and outstanding Common Shares, were voted in connection with the meeting. Shareholders voted by a show of hands in favour of each item of business. Based on proxies received prior to the meeting and votes cast in person at the meeting, each director nominee was elected by a substantial majority as follows:

   
    Nominee                    Votes FOR
    Scott B. Bonham             99.76%
    Peter G. Bowie              99.72%
    Lady Barbara Judge          97.97%
    Dr. Kurt J. Lauk            99.83%
    Cynthia A. Niekamp          99.82%
    William A. Ruh              99.86%
    Dr. Indira V. Samarasekera  98.77%
    Donald J. Walker            99.87%
    Lawrence D. Worrall         98.67%
    William L. Young            98.71%

Additionally, Magna's advisory "say on pay" vote received 92.19% support based on proxies received prior to the meeting and votes cast in person at the meeting.  Full results of the votes are included as Appendix "A" to this press release.

OUR BUSINESS^{[1 ]}
We are a leading global automotive supplier with 321 manufacturing operations and 102 product development, engineering and sales centres in 29 countries. We have over 159,000 employees focused on delivering superior value to our customers through innovative products and processes, and world class manufacturing. We have complete vehicle engineering and contract manufacturing expertise, as well as product capabilities which include body, chassis, exterior, seating, powertrain, active driver assistance, vision, closure and roof systems and have electronic and software capabilities across many of these areas. Our common shares trade on the Toronto Stock Exchange (MG) and the New York Stock Exchange (MGA). For further information about Magna, visit our website at http://www.magna.com.

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^[1] Manufacturing operations, product development, engineering and sales centres and employee figures include certain equity-accounted operations.

Appendix "A" 

VOTING RESULTS - 2017 ANNUAL MEETING OF SHAREHOLDERS 

   
                           Resolution                 Votes For     Votes Withheld/Against
                                                       #        %        #           %
    Elect Scott B. Bonham as Director             258,195,412  99.76     614,135     0.24
    Elect Peter G. Bowie as Director              258,075,876  99.72     733,670     0.28
    Elect Lady Barbara Judge as Director          253,553,704  97.97   5,255,843     2.03
    Elect Dr. Kurt J. Lauk as Director            258,370,214  99.83     439,332     0.17
    Elect Cynthia A. Niekamp as Director          258,350,970  99.82     458,576     0.18
    Elect William A. Ruh as Director              258,436,555  99.86     372,993     0.14
    Elect Dr. Indira V. Samarasekera as Director  255,613,802  98.77   3,195,744     1.23
    Elect Donald J. Walker as Director            258,481,919  99.87     327,565     0.13
    Elect Lawrence D. Worrall as Director         255,373,016  98.67   3,436,531     1.33
    Elect William L. Young as Director            255,479,889  98.71   3,329,659     1.29
    Re-Appointment of Deloitte LLP as Auditors    276,184,420  99.63   1,022,261     0.37
    Advisory Resolution on Approach
    to Executive Compensation                     238,602,711  92.19  20,205,970     7.81

INVESTOR CONTACT, Louis Tonelli, Vice-President, Investor Relations, louis.tonelli@magna.com, +1-905-726-7035; MEDIA CONTACT, Tracy Fuerst, Director of Corporate Communications & PR, tracy.fuerst@magna.com, +1-248-631-5396