Press Release - Magna Announces 2022 Annual and Special Meeting Results

AURORA, Ontario, May 03, 2022 (GLOBE NEWSWIRE) -- Magna International Inc. (TSX: MG; NYSE: MGA) today announced voting results from its 2022 annual and special meeting of shareholders held on May 3, 2022. A total of 232,806,238 Common Shares or 78.92% of our issued and outstanding Common Shares were represented in person or by proxy at the meeting. Shareholders voted in favour of each item of business, as follows:

a.        Election of Directors        

Nominee
 		 Votes FOR Nominee Votes FOR
Peter G. Bowie 99.39 % Mary Lou Maher 99.75 %
Mary S. Chan 99.41 % William A. Ruh 99.77 %
Hon. V. Peter Harder 98.92 % Dr. Indira V. Samarasekera 97.74 %
Seetarama S. Kotagiri (CEO) 99.52 % Dr. Thomas Weber 98.87 %
Dr. Kurt J. Lauk 99.37 % Lisa S. Westlake 99.17 %
Robert F. MacLellan 99.53 %    

                                                        
b.        Other Items of Business

Item
 		 Votes FOR
Reappointment of Deloitte 99.69 %
Ratification of 2022 Treasury PSU Plan 98.77 %
Say on Pay 93.16 %


Based on the voting results, each of the 11 nominees was elected with a substantial majority. Similarly, Deloitte was reappointed as Magna’s independent auditors and the Ratification of 2022 Treasury PSU Plan resolution and Say on Pay resolution were approved, in each case by a substantial majority. Detailed voting results are included as Appendix “A” to this press release.

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

OUR BUSINESS (1)
Magna is more than one of the world’s largest suppliers in the automotive space. We are a mobility technology company with a global, entrepreneurial-minded team of 161,000 employees and an organizational structure designed to innovate like a startup. With 60+ years of expertise, and a systems approach to design, engineering and manufacturing that touches nearly every aspect of the vehicle, we are positioned to support advancing mobility in a transforming industry. Our global network includes 340 manufacturing operations and 89 product development, engineering and sales centres spanning 28 countries.

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

____________________________

(1) Manufacturing operations, product development, engineering and sales centres and employee figures include certain equity-accounted operations.

 

Appendix “A”

VOTING RESULTS - 2022 ANNUAL AND SPECIAL MEETING OF SHAREHOLDERS

Resolution Votes For Votes Withheld/Against

#
%
#
%
Elect Peter G. Bowie as Director 231,374,175 99.39 1,421,979 0.61
Elect Mary S. Chan as Director 231,435,066 99.41 1,370,938 0.59
Elect Hon. V. Peter Harder as Director 230,298,851 98.92 2,507,153 1.08
Elect Seetarama S. Kotagiri (CEO) as Director 231,697,560 99.52 1,108,444 0.48
Elect Dr. Kurt J. Lauk as Director 231,341,811 99.37 1,464,193 0.63
Elect Robert F. MacLellan as Director 231,714,117 99.53 1,091,887 0.47
Elect Mary Lou Maher as Director 232,227,934 99.75 578,070 0.25
Elect William A. Ruh as Director 232,277,362 99.77 528,642 0.23
Elect Dr. Indira V. Samarasekera as Director 227,555,242 97.74 5,250,762 2.26
Elect Dr. Thomas Weber as Director 230,169,245 98.87 2,636,759 1.13
Elect Lisa S. Westlake as Director 230,868,401 99.17 1,937,603 0.83
Re-Appointment of Deloitte LLP as Auditors 232,087,040 99.69 718,964 0.31
Ratification of 2022 Treasury PSU Plan 229,952,696 98.77 2,853,078 1.23
Advisory Resolution on Executive Compensation 216,883,761 93.16 15,915,292 6.84

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Source: Magna International Inc.