Market Newsdesk

Highlights
⁽¹⁾

Delivered strong third-quarter 2026 results, reflecting continued productivity improvements and disciplined execution.

• Sales decreased 4% to $10.1 billion, reflecting lower light vehicle production and impact of divestitures
• Income from operations before income taxes increased 17% to $552 million
• Adjusted EBIT increased 11% to $683 million, with Adjusted EBIT margin expanding 90 basis points to 6.8%
• Diluted earnings per share were $1.44; Adjusted EPS increased 38% to $1.83
• Returned $658 million to shareholders during the quarter through dividends and share repurchases
• Reaffirming midpoint of full year Outlook for Adjusted EPS and increasing Free Cash Flow Outlook
• Board approved new Normal Course Issuer Bid to repurchase up to 10% of public float over the next 12 months

AURORA, Ontario, Oct. 30, 2026 (GLOBE NEWSWIRE) — Magna International Inc. (TSX: MG; NYSE: MGA) today reported financial results for the third quarter ended September 30, 2026.

Please click HERE for full third quarter MD&A and Financial Statements. 

 

“Magna’s strong third-quarter results demonstrate that disciplined execution and operational improvements are driving higher earnings, margins and cash generation. Our year-to-date performance reinforces confidence in our Adjusted EPS outlook and supports a higher Free Cash Flow outlook, enabling us to return meaningful capital to shareholders and continue to invest for future growth. We remain focused on finishing 2026 strong and positioning Magna for success in 2027 and beyond. At our Investor Day on November 11, we look forward to sharing more about our strategic priorities and longer-term outlook.” – Swamy Kotagiri, Chief Executive Officer

		THREE MONTHS ENDED SEPTEMBER 30,						NINE MONTHS ENDED SEPTEMBER 30,
			2026			2025			2026			2025
Reported
Sales		$	10,059		$	10,462		$	31,420		$	31,162
Income from operations before income taxes			552			473			1,238			1,194
Net income attributable to Magna
International Inc.			383			305			840			830
Diluted earnings per share			1.44			1.08			3.08			2.94
Non-GAAP Financial Measures (1)
Adjusted EBIT		$	683		$	613		$	1,918		$	1,550
Adjusted EPS			1.83			1.33			5.06			3.55
Free Cash Flow			584			572			1,573			560
All results are reported in millions of U.S. dollars, except per share figures, which are in U.S. dollars
(1) Adjusted EBIT, Adjusted EPS, and Free Cash Flow are Non-GAAP financial measures that have no standardized meaning under U.S. GAAP, and as a result may not be comparable to the calculation of similar measures by other companies. Further information and a reconciliation of these Non-GAAP financial measures is included in the back of this press release.

THREE MONTHS ENDED SEPTEMBER 30, 2026

We posted sales of $10.1 billion for the third quarter of 2026, a decrease of 4% from the third quarter of 2025. The lower sales largely reflects:

• lower global light vehicle production, including lower vehicle production in North America and China of 5% and 7%, respectively, partially offset by 3% higher vehicle production in Europe;
• the end of production of certain programs;
• the divestitures of our Lighting and Rooftop Systems businesses during 2026;
• net customer price concessions as compared to the prior year;
• lower engineering revenue, primarily in our Complete Vehicles segment; and
• the net weakening of foreign currencies against the U.S. dollar.

These factors were partially offset by:

• the launch of new programs during or subsequent to the third quarter of 2025; and
• net favourable commercial items.

Adjusted EBIT increased 11% to $683 million for the third quarter of 2026 compared to $613 million for the third quarter of 2025, primarily due to:

• net favourable commercial items;
• productivity and efficiency improvements, including the benefit of operational excellence initiatives and prior restructuring actions, net of customer price concessions; and
• recoveries for tariffs and lower tariff costs incurred.

These factors were partially offset by:

• reduced earnings on lower organic sales, and related product mix impacts;
• higher commodity costs, partially offset by higher scrap recoveries; and
• net transactional foreign exchange losses in the third quarter of 2026, compared to net transactional foreign exchange gains in the third quarter of 2025.

Income from operations before income taxes was $552 million in the third quarter of 2026, up $79 million or 17% compared to the third quarter of 2025. Income from operations before income taxes includes Other expense, net⁽²⁾ and Amortization of acquired intangible assets totaling $96 million and $75 million in the third quarters of 2026 and 2025, respectively. Excluding Other expense, net and Amortization of acquired intangible assets from both periods, income from operations before income taxes in the third quarter of 2026 increased $100 million or 18% compared to the third quarter of 2025, largely reflecting the increase in Adjusted EBIT and lower interest expense.

Net income attributable to Magna International Inc. was $383 million for the third quarter of 2026 compared to $305 million in the third quarter of 2025. Excluding Other expense, net, after tax and Amortization of acquired intangibles from both periods, net income attributable to Magna International Inc. was $486 million in the third quarter of 2026 compared to $375 million in the third quarter of 2025.

Diluted earnings per share were $1.44 in the third quarter of 2026, an increase of 33% from the comparable period. Adjusted EPS were $1.83, compared to $1.33 for the third quarter of last year, an increase of 38%. The increase in Adjusted EPS primarily reflects the impact of higher Adjusted EBIT, lower interest expense and effective tax rate, and a decrease in average diluted shares outstanding resulting from share repurchases over the past 12 months.

In the third quarter of 2026, we generated cash from operations of $950 million, and Free Cash Flow of $584 million.

_{⁽²⁾ Other expense, net is comprised of restructuring activities, loss on assets held for sale, impacts related to Fisker, and gain on investment during the three months ended September 30, 2026 & 2025. A reconciliation of these Non-GAAP financial measures is included in the back of this press release.}

NINE MONTHS ENDED SEPTEMBER 30, 2026

We posted sales of $31.4 billion for the nine months ended September 30, 2026, an increase of 1% compared to $31.2 billion for the nine months ended September 30, 2025. The higher sales largely reflects:

• the launch of new programs during or subsequent to the first nine months of 2025;
• the net strengthening of foreign currencies against the U.S. dollar, which increased reported U.S. dollar sales by $678 million; and
• net favourable commercial items.

These factors were partially offset by:

• the end of production of certain programs;
• lower global light vehicle production;
• lower complete vehicle assembly volumes with full-cost contractual arrangements;
• the divestitures of our Lighting and Rooftop Systems businesses during 2026;
• lower engineering revenue, primarily in our Complete Vehicles segment; and
• net customer price concessions subsequent to the first nine months of 2025.

Adjusted EBIT increased 24% to $1.9 billion for the nine months ended September 30, 2026 compared to $1.6 billion for the nine months ended September 30, 2025 primarily due to:

• productivity and efficiency improvements, including the benefit of operational excellence initiatives and prior restructuring actions, net of customer price concessions;
• net favourable commercial items;
• higher equity income, including favourable commercial items during the first nine months of 2026;
• recoveries for tariffs and lower tariff costs incurred;
• higher net transactional foreign exchange gains in the first nine months of 2026, compared to the first nine months of 2025;
• the net strengthening of foreign currencies against the U.S. dollar, which had a favourable impact on reported U.S. dollar Adjusted EBIT; and
• lower warranty costs.

These factors were partially offset by:

• higher commodity costs, partially offset by higher scrap recoveries;
• reduced earnings on lower organic sales;
• lower income on lower engineering revenue;
• higher employee profit sharing and incentive compensation; and
• higher professional fees.

During the nine months ended September 30, 2026, income from operations before income taxes was $1.2 billion, up $44 million or 4% over the prior year. Income from operations before income taxes includes Other expense, net⁽²⁾ and Amortization of acquired intangible assets totaling $571 million and $189 million in the first nine months of 2026 and 2025, respectively. Net income attributable to Magna International Inc. was $840 million in the nine months ended September 30, 2026, compared to $830 million in the prior year period. Excluding Other expense, net, after tax and Amortization of acquired intangibles from both periods, net income attributable to Magna International Inc. was $1.4 billion in the first nine months of 2026 compared to $1.0 billion in the prior year period.

Diluted earnings per share were $3.08 during the nine months ended September 30, 2026, compared to $2.94 in the comparable period. Adjusted diluted earnings per share were $5.06, compared to $3.55 for the nine months ended September 30, 2025. The increase in Adjusted EPS primarily reflects the impact of higher Adjusted EBIT, lower interest expense and effective tax rate, and a decrease in average diluted shares outstanding resulting from share repurchases over the past 12 months.

During the nine months ended September 30, 2026, we generated cash from operations of $2.6 billion. Free Cash Flow was $1.6 billion in the period, including balance sheet-related customer recoveries for contract adjustments associated with certain electric vehicle programs in North America.

RETURN OF CAPITAL TO SHAREHOLDERS

During the three and nine months ended September 30, 2026, we paid dividends of $129 million and $397 million, respectively. In addition, we repurchased 7.9 million shares for $529 million and 22.9 million shares for $1.434 billion, respectively, for the three and nine months ended September 30, 2026. There were 1.3 million remaining shares available for repurchase as of September 30, 2026, under our current Normal Course Issuer Bid (“NCIB”); the remaining shares were repurchased in October.

On October 29, our Board of Directors declared a third quarter dividend of $0.495 per Common Share. The dividend is payable on November 27, 2026, to shareholders of record as of the close of business on November 13, 2026.

OTHER MATTERS

Subject to the approval by the Toronto Stock Exchange, our Board of Directors approved a new NCIB to repurchase up to approximately 25.8 million of our Common Shares, representing 10% of our public float of Common Shares. This NCIB is expected to be effective on November 9, 2026 and will terminate no later than November 8, 2027.

SEGMENT SUMMARY

($Millions)	THREE MONTHS ENDED SEPTEMBER 30,
	Sales										Adjusted EBIT
		2026			2025		Change					2026			2025			Change
Body Exteriors & Structures	$	4,158		$	4,147		$	11			$	387		$	305		$	82
Power & Vision		3,773			3,854			(81	)			287			236			51
Seating Systems		1,247			1,520			(273	)			28			62			(34	)
Complete Vehicles		996			1,085			(89	)			33			29			4
Corporate and Other		(115	)		(144	)		29				(52	)		(19	)		(33	)
Total Reportable Segments	$	10,059		$	10,462		$	(403	)		$	683		$	613		$	70

		THREE MONTHS ENDED SEPTEMBER 30,
		Adjusted EBIT as a percentage of sales
		2026		2025		Change
Body Exteriors & Structures		9.3	%	7.4	%	1.9	%
Power & Vision		7.6	%	6.1	%	1.5	%
Seating Systems		2.2	%	4.1	%	(1.9	)%
Complete Vehicles		3.3	%	2.7	%	0.6	%
Consolidated Average		6.8	%	5.9	%	0.9	%

($Millions)	NINE MONTHS ENDED SEPTEMBER 30,
	Sales										Adjusted EBIT
		2026			2025			Change				2026			2025			Change
Body Exteriors & Structures	$	12,658		$	12,366		$	292			$	1,021		$	882		$	139
Power & Vision		11,747			11,357			390				784			522			262
Seating Systems		4,035			4,265			(230	)			104			74			30
Complete Vehicles		3,380			3,587			(207	)			102			101			1
Corporate and Other		(400	)		(413	)		13				(93	)		(29	)		(64	)
Total Reportable Segments	$	31,420		$	31,162		$	258			$	1,918		$	1,550		$	368

		NINE MONTHS ENDED SEPTEMBER 30,
		Adjusted EBIT as a percentage of sales
		2026		2025		Change
Body Exteriors & Structures		8.1	%	7.1	%	1.0	%
Power & Vision		6.7	%	4.6	%	2.1	%
Seating Systems		2.6	%	1.7	%	0.9	%
Complete Vehicles		3.0	%	2.8	%	0.2	%
Consolidated Average		6.1	%	5.0	%	1.1	%

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.

2026 OUTLOOK

The Company is updating its outlook for Full Year 2026. Compared to our previous Outlook (July 2026), Sales have been updated primarily to reflect lower expected vehicle production in China and the unfavourable impacts of program mix. Magna is also narrowing its Outlook for Adjusted EBIT margin, reaffirming the midpoint of its Outlook for Adjusted EPS, and increasing its Outlook for Free Cash Flow.

Updated 2026 Outlook:

			Current		Previous
Segment Sales
Body Exteriors & Structures Power & Vision Seating Systems Complete Vehicles			$16.7 – $16.9 billion $15.4 – $15.6 billion $5.2 – $5.4 billion $4.4 – $4.6 billion		$16.6 – $17.1 billion $15.4 – $15.7 billion $5.4 – $5.6 billion $4.3 – $4.5 billion
Total Sales			$41.2 – $42.0 billion		$41.3 – $42.5 billion
Adjusted EBIT Margin (3)			6.3% – 6.5%		6.3% – 6.6%
Adjusted EPS (4)			$6.85 – $7.15		$6.70 – $7.30
Free Cash Flow (5)			$1.85 – $1.90 billion		$1.75 – $1.85 billion
Macro Assumptions:
Light Vehicle Production (millions of units)
North America			15.0		15.0
Europe			16.8		16.8
China			30.4		31.2
Average Foreign exchange rates:
1 Canadian dollar equals			U.S. $0.719		U.S. $0.713
1 euro equals			U.S. $1.156		U.S. $1.153
Other Key Assumptions:
Capital Spending			Approx. $1.5 billion		$1.5 – $1.6 billion
Equity Income (included in EBIT)			Approx. $200 million		$190 – $210 million
Interest Expense, net			Approx. $150 million		Approx. $160 million
Income Tax Rate(6)			Approx. 22%		Approx. 23%
Weighted average diluted shares outstanding			Approx. 270 million		Approx. 270 million
Notes: (3) Adjusted EBIT Margin is the ratio of Adjusted EBIT to Total Sales. Refer to the reconciliation of Non-GAAP financial measures in the back of this press release for further information. (4) Adjusted EPS represents Adjusted Net Income attributable to Magna divided by the Diluted weighted average number of Common Shares outstanding during the period. (5) Refer to the reconciliation of Non-GAAP financial measures in the back of this press release for further information on Free Cash Flow. (6) The Income Tax Rate has been calculated using Adjusted EBIT and is based on current tax legislation.

Our full year Outlook for 2026 is provided annually, with quarterly updates, and 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 2026 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: geopolitical factors, such as military conflicts and tariffs; supply chains, including disruption to supply of and/or increased costs of steel, aluminum, resin, and energy supplies, as well as semiconductor and memory (DRAM) chips; OEM, supplier or sub-supplier disruptions; relative currency values; commodity prices; labour disruptions, as well as 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; and considerations applicable to EVs, including EV range, charging infrastructure, and electricity pricing.

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. Management also believes that Free Cash Flow is a useful measure in assessing the Company’s ability to generate cash to maintain operations and repay its debt. 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
			THREE MONTHS ENDED SEPTEMBER 30,								NINE MONTHS ENDED SEPTEMBER 30,
				2026				2025				2026				2025
Net income			$	400			$	333			$	878			$	880
Add:
Amortization of acquired intangible assets				17				27				53				82
Interest expense, net				35				65				109				167
Other expense, net				79				48				518				107
Income taxes				152				140				360				314
Adjusted EBIT			$	683			$	613			$	1,918			$	1,550
Adjusted EBIT as a percentage of sales (“Adjusted EBIT margin”)
			THREE MONTHS ENDED SEPTEMBER 30,								NINE MONTHS ENDED SEPTEMBER 30,
				2026				2025				2026				2025
Sales			$	10,059			$	10,462			$	31,420			$	31,162
Adjusted EBIT			$	683			$	613			$	1,918			$	1,550
Adjusted EBIT as a percentage of sales				6.8	%			5.9	%			6.1	%			5.0	%

NON-GAAP FINANCIAL MEASURES RECONCILIATION (CONTINUED)

Adjusted EPS
			THREE MONTHS ENDED SEPTEMBER 30,								NINE MONTHS ENDED SEPTEMBER 30,
				2026				2025				2026				2025
Net income attributable to Magna International Inc.			$	383			$	305			$	840			$	830
Add (deduct):
Amortization of acquired intangible assets				17				27				53				82
Tax effect on Amortization of acquired intangible assets				(1	)			(5	)			(4	)			(15	)
Other expense, net				79				48				518				107
Tax effect on Other expense, net				8				—				(27	)			(3	)
Adjusted net income attributable to Magna International Inc.			$	486			$	375			$	1,380			$	1,001
Diluted weighted average number of Common Shares
outstanding during the period (millions):				266.0				281.8				273.0				281.9
Adjusted EPS			$	1.83			$	1.33			$	5.06			$	3.55

The following table reconciles Cash provided from operating activities to Free Cash Flow:

Free Cash Flow
			THREE MONTHS ENDED SEPTEMBER 30,								NINE MONTHS ENDED SEPTEMBER 30,
				2026				2025				2026				2025
Cash provided from operating activities			$	950			$	912			$	2,581			$	1,616
(Deduct) add:
Fixed asset additions				(307	)			(267	)			(795	)			(781	)
Increase in investment, other assets, and intangible assets				(75	)			(100	)			(320	)			(342	)
Proceeds from disposition				16				27				107				67
Free Cash Flow			$	584			$	572			$	1,573			$	560

Certain of the forward-looking financial measures provided in our Outlook 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 third quarter ended September 30, 2026 results on Friday, October 30, 2026 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 1-833-461-5787. International callers should use 1-585-542-9983. 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.

INVESTOR CONTACT
Louis Tonelli, Vice-President, Investor Relations
[email protected] │ 905.726.7035

MEDIA CONTACT
Tracy Fuerst, Vice-President, Corporate Communications & Media Relations
[email protected] │ 248.761.7004

TELECONFERENCE CONTACT

Nancy Hansford, Executive Assistant, Investor Relations
[email protected] │ 905.726.7108

ABOUT MAGNA

Magna is one of the world’s largest automotive suppliers and a trusted partner to automakers in the industry’s most critical markets globally. With operations in 27 countries, we combine global scale with trusted reliability and proven execution. Backed by nearly seven decades of experience, we bring together deep manufacturing expertise with innovative vehicle systems to deliver performance, safety, and quality.

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:

Material Forward-Looking Statement	Material Potential Risks Related to Applicable Forward-Looking Statement
Light Vehicle Production	Light vehicle sales levels, including due to: – A decline in consumer confidence – Economic uncertainty – Elevated interest rates and availability of consumer credit – Deteriorating vehicle affordability Tariffs and/or other actions that erode free trade agreements Production deferrals, cancellations and volume reductions Production and supply disruptions Commodities prices Availability and relative cost of skilled labour
Total Sales Segment Sales	Same risks as for Light Vehicle Production above Alignment of our product mix with production demand Supply disruptions, including as a result of semiconductor and memory (DRAM) chip shortages Customer concentration Pace of EV adoption, including North American electric vehicle program deferrals, cancellations and volume reductions Shifts in market shares among OEMs, vehicles and/or vehicle segments Shifts in consumer “take rates” for products we sell Relative currency values
Adjusted EBIT Margin Adjusted Diluted EPS Free Cash Flow	Same risks as for Total Sales and Segment Sales above Execution of critical program launches Operational underperformance Product warranty/recall risks Production inefficiencies Unmitigated incremental tariff costs Restructuring costs and/or impairment charges Inflation Ability to secure cost recoveries Price concessions Commodity cost volatility Scrap steel price volatility
Equity Income	Same risks as Adjusted EBIT Margin above Risks related to conducting business through joint ventures Risks of doing business in foreign markets Legal and regulatory proceedings Changes in law
Share Repurchases Weighted Average Diluted Shares Outstanding	Same risks impacting Free Cash Flow above Ability to repurchase shares for cancellation, including due to normal course issuer bid rules, trading blackouts, and other factors

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:

Macroeconomic, Geopolitical and Other Risks geopolitical crises and military conflicts; threats to free trade agreements; international trade disputes; planning and forecasting challenges; interest rates and availability of consumer credit; Risks Related to the Automotive Industry pace of EV adoption; North American EV program deferrals, cancellations and volume reductions; economic cyclicality; regional production volumes; deteriorating vehicle affordability; intense competition; Strategic Risks evolution of the vehicle; evolving business risk profile; technology and innovation; investments in mobility and technology companies; Customer-Related Risks customer concentration; market shifts; evolving OEM competitive landscape; dependence on outsourcing; consumer take rate shifts; nature of customer blanket purchase orders; potential OEM production-related disruptions; Supply Chain Risks supply chain disruptions; regional energy supply and pricing; financial condition of supply base; supplier claims; Manufacturing/Operational Risks product launch; operational underperformance; restructuring costs; impairments; skilled labour attraction/retention;

Pricing Risks quote/pricing assumptions; customer pricing pressure/contractual arrangements; commodity price volatility; scrap steel/aluminum price volatility; Warranty/Recall Risks repair/replacement costs; warranty provisions; product liability; IT Security/Cybersecurity Risks IT/cybersecurity breach; product cybersecurity breach; risks related to the use of artificial intelligence; Merger and Acquisition Risks inherent merger and acquisition risks; acquisition integration and synergies; Other Business Risks joint ventures; intellectual property; risks of doing business in foreign markets; tax risks; relative foreign exchange rates; returns on capital investments; financial flexibility; credit ratings changes; stock price fluctuation; Legal, Regulatory and Other Risks legal and regulatory proceedings; and changes in laws.

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:

• discussed under the “Industry Trends and Risks” heading of our Management’s Discussion and Analysis; and
• set out in our Annual Information Form filed with securities commissions in Canada, our annual report on Form 40-F filed with the United States Securities and Exchange Commission, and subsequent filings.

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.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8ecb7b10-8df7-4f5b-82e1-0be931e594cf

• This international award, honoring “the best of the best” in medical innovation, represents yet another important external recognition of AI-Immunology™
  

COPENHAGEN, Denmark, October 30, 2026 – Evaxion A/S (NASDAQ: EVAX) (“Evaxion”), a clinical-stage TechBio company developing novel immunotherapies with its pioneering AI-Immunology™ platform, is proud to have been awarded the 2026 International Prix Galien Award for AI-Immunology™ as best digital health solution. It is the first time the prestigious international award has been won by a Danish company.

Evaxion CEO Helen Tayton-Martin and founder and Chief AI Officer Andreas Holm Mattsson received the award last night at the American Museum of Natural History in New York City. It represents yet another important external recognition of AI-Immunology™, which harnesses the power of artificial intelligence to decode the human immune system and develop novel immunotherapies for cancer as well as infectious and autoimmune diseases.

AI-Immunology™ is Evaxion’s proprietary, clinically validated and scalable AI platform with which it conducts rapid, efficient and high-quality target discovery, drug design and development. Evaxion has discovered and designed several potential new drug candidates with AI-Immunology™, the furthest developed being its personalized cancer vaccine EVX-01. As recently as last week, three-year data from a phase 2 trial with EVX-01, reflecting durable clinical outcomes and immune system activation in advanced melanoma patients was presented at the European Society for Medical Oncology Congress in Madrid.

“The International Prix Galien Award is a tremendous recognition of our science and technology, which we are honored and delighted to receive. Having been refined, trained and enhanced for almost two decades, AI-Immunology™ is a leading and clinically validated platform for novel immune drug target discovery, especially in cancer vaccines. We are delighted by this distinction, which strongly endorses our approach in leveraging AI to develop new treatments,” says Helen Tayton-Martin.

The International Prix Galien Award is presented every two years with eligible nominees having received a national Prix Galien award within the last two years. Thus, it honors “the best of the best” within different categories of medical innovation. Worldwide, the Prix Galien is often regarded as the equivalent of the Nobel Prize in biopharmaceutical research.

Evaxion won the Prix Galien UK Award for Best digital health solution in June 2026 and the award for the Best Medical Technology/AI Advances in the Nordic and high-growth European and Middle Eastern countries in December 2025.

Founded in France 50 years ago by pharmacist Roland Mehl in honor of Galen, the father of medical science and modern pharmacology, the Prix Galien supports, recognizes and awards the efforts of scientists, researchers and companies committed to advancing medical innovation with the power to change the human condition.

Contact information

Evaxion A/S
Mads Kronborg
Vice President, Investor Relations & Communication
+45 53 54 82 96
[email protected]

About Evaxion

Evaxion is a pioneering clinical-stage TechBio company based upon its proprietary, clinically validated and scalable AI platform, AI-Immunology™. The platform harnesses the power of artificial intelligence to decode the human immune system and develop novel immunotherapies for cancer as well as infectious and autoimmune diseases.

With AI-Immunology™ we conduct rapid, efficient and high-quality target discovery, drug design and development. Our team of +40 experts covers the entire value chain from target discovery to clinical development.

We have developed a pipeline of both personalized and off-the-shelf cancer vaccine candidates as well as prophylactic vaccine candidates for infectious diseases. All our candidates address high unmet medical needs, reflecting our commitment to transforming patients’ lives by providing innovative and targeted treatment options.

For more information about Evaxion, AI-Immunology™ and our pipeline, please visit our website. 

Forward-looking statement 
This announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The words “target,” “believe,” “expect,” “hope,” “aim,” “intend,” “may,” “might,” “anticipate,” “contemplate,” “continue,” “estimate,” “plan,” “potential,” “predict,” “project,” “will,” “can have,” “likely,” “should,” “would,” “could,” and other words and terms of similar meaning identify forward-looking statements. Actual results may differ materially from those indicated by such forward-looking statements as a result of various factors, including, but not limited to, risks related to: our financial condition and need for additional capital; our development work; cost and success of our product development activities and preclinical and clinical trials; commercializing any approved pharmaceutical product developed using our AI platform technology, including the rate and degree of market acceptance of our product candidates; our dependence on third parties including for conduct of clinical testing and product manufacture; our inability to enter into partnerships; government regulation; protection of our intellectual property rights; employee matters and managing growth; our ADSs and ordinary shares, the impact of international economic, political, legal, compliance, social and business factors, including inflation, and the effects on our business from other significant geopolitical and macro-economic events; and other uncertainties affecting our business operations and financial condition. For a further discussion of these risks, please refer to the risk factors included in our most recent Annual Report on Form 20-F and other filings with the US Securities and Exchange Commission (SEC), which are available at www.sec.gov. We do not assume any obligation to update any forward-looking statements except as required by law. 

SAN DIEGO, Oct. 29, 2026 (GLOBE NEWSWIRE) — Aspen Neuroscience, Inc. (Nasdaq: ASPE), a clinical-stage regenerative medicine biotechnology company developing autologous cell therapies for Parkinson’s disease (PD), today announced the pricing of its initial public offering of 9,375,000 shares of common stock at a price to the public of $15.00 per share. All of the shares of common stock are being offered by Aspen. The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Aspen, are expected to be approximately $140.6 million. In addition, Aspen has granted the underwriters a 30-day option to purchase up to an additional 1,406,250 shares of common stock at the public offering price, less underwriting discounts and commissions.

The shares are expected to begin trading on The Nasdaq Global Select Market on October 30, 2026, under the ticker symbol “ASPE.” The offering is expected to close on November 2, 2026, subject to the satisfaction of customary closing conditions.

Leerink Partners, Piper Sandler, Stifel, UBS Investment Bank and Oppenheimer & Co. are acting as joint bookrunning managers for the offering.

The Registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission (SEC) and became effective on October 29, 2026. A copy of the registration statement can be accessed through the SEC’s website at www.sec.gov. This offering is being made only by means of a prospectus forming part of the registration statement relating to these securities. When available, copies of the final prospectus relating to the initial public offering may be obtained from: Leerink Partners LLC, Attention: Syndicate Department, 53 State Street, 40th Floor, Boston, MA 02109, by telephone at (800) 808-7525 ext. 6105, or by email at [email protected]; Piper Sandler & Co., Attention: Prospectus Department, 350 North 5th Street, Suite 1000, Minneapolis, MN 55401, by telephone at (800) 747-3924, or by email at [email protected]; Stifel, Nicolaus & Company, Incorporated, Attention: Prospectus Department, One Montgomery Street, Suite 3700, San Francisco, CA 94104, by telephone at (415) 364-2720, or by email at [email protected]; UBS Securities LLC, Attention: Prospectus Department, 11 Madison Avenue, New York, NY 10010, or by email at [email protected]; or Oppenheimer & Co. Inc., Attention: Syndicate Prospectus Department, 85 Broad Street, 26th Floor, New York, NY 10004, or by telephone at (212) 667-8055, or by email at [email protected].

This press release shall not constitute an offer to sell, or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction. Any offers, solicitations of offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended.

About Aspen Neuroscience

Aspen Neuroscience, Inc. is a clinical-stage regenerative medicine biotechnology company focused on developing autologous induced-pluripotent stem cell (iPSC)-derived therapies to address neurodegenerative diseases with high unmet medical need. Aspen’s lead product candidate, sasineprocel, is an investigational single-dose, autologous iPSC-based cell therapy being evaluated for the treatment of PD.

Forward-Looking Statements

The statements contained in this press release that are not historical facts are forward-looking statements. You can identify forward-looking statements because they contain words such as “believe,” “can,” “estimate,” “expect,” “intend,” “may,” “plans,” “should,” “seeks,” or “will,” or similar expressions which concern Aspen’s strategy, plans, projections or intentions. These forward-looking statements may be included throughout this press release, and include, but are not limited to, statements relating to Aspen’s expected gross proceeds from the initial public offering, the expected date for Aspen’s common stock to begin trading on The Nasdaq Global Select Market, the expected closing of the initial public offering and the clinical development of sasineprocel. By their nature, forward-looking statements are not statements of historical fact or guarantees of future performance and are subject to risks, uncertainties, assumptions or changes in circumstances that are difficult to predict or quantify. Aspen’s expectations, beliefs and projections are expressed in good faith and Aspen believes there is a reasonable basis for them. However, there can be no assurance that management’s expectations, beliefs and projections will result or be achieved and actual results may vary materially from what is expressed in or indicated by the forward-looking statements. Any forward-looking statement in this press release speaks only as of the date of this release. Aspen undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws.

CONTACT:

Sam Murphy
Corporate Development
[email protected]

Kerry Beth Daly
Corporate Communications
[email protected]

NASHVILLE, Tenn., Oct. 29, 2026 (GLOBE NEWSWIRE) — Holley Performance Brands (NYSE: HLLY), home to a portfolio of iconic automotive brands serving enthusiasts across the high-performance aftermarket, today announced it has acquired SXTH Element, a Spartanburg, S.C.-based maker of engineered forced-induction and airflow upgrades focused on late-model Toyota platforms. The terms of the transaction were not disclosed.

SXTH Element joins Holley’s Modern Truck & Off-Road consumer vertical, expanding Holley’s reach into new product categories and vehicle platforms. SXTH Element’s product line spans cold-air intakes, intercoolers, charge pipes, turbo inlets and catch cans, with a strong track record of bringing products to market within months of new Toyota model launches. The founding team will continue to lead the business, and the transaction is structured to incentivize continued growth following the acquisition.

Toyota redesigned its full truck and SUV lineup between 2022 and 2025, and SXTH Element offers parts for every model in that lineup: the Tacoma, 4Runner, Tundra, Sequoia and Land Cruiser. All five models now use turbocharged engines, creating a young and expanding base of vehicles with years of modification ahead. Turbocharged engines reward intake and intercooler upgrades, which enthusiasts commonly pair with a performance tune and an exhaust. Alongside Holley’s existing tuning and exhaust capabilities, SXTH Element positions Holley to offer more complete performance solutions for these vehicles over time.

“We are disciplined about the brands we bring onto our platform. We look for founder-led businesses with authentic enthusiast credibility, a reputation for product excellence, strong growth in a large addressable market, and meaningful upside that Holley’s scale and resources can unlock. SXTH Element fits that profile,” said Matthew Stevenson, President and Chief Executive Officer of Holley Performance Brands. “That same discipline has guided us as we moved capital out of businesses that no longer fit our growth and margin goals and into categories where enthusiast demand is building. We believe SXTH Element gives our Modern Truck & Off-Road business an immediate foothold with a new base of enthusiasts, who love Toyota Trucks and SUVs.”

SXTH Element sells primarily direct to consumers today. Holley plans to expand the brand’s availability through its network of B2B partners. The acquisition follows Holley’s March 2026 purchase of racewear brand HRX, which has continued to broaden its product offering since joining the company.

“Holley is an iconic leader in performance and joining that legacy is an exciting next step for SXTH Element,” said Dan Wagoner, co-owner of SXTH Element. “We look forward to continuing to deliver for our customers while supporting Holley’s broader vision for the future of the automotive aftermarket.”

“I’m proud of what we’ve built at SXTH Element and excited to join the Holley team,” said Mark Scallan, co-owner of SXTH Element. “As enthusiasts ourselves, we’re looking forward to what we can build together for the community that got us here.”

For more Holley company news, click here.

Forward-Looking Statements


Certain statements in this press release may be considered “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks, uncertainties, and other important factors which could cause actual results to differ materially from those expressed or implied by such forward-looking statements, including but not limited to Holley’s ability to successfully integrate the SXTH Element business, grow the business and its product offering, or otherwise fully realize the expected benefits associated with its acquisition of SXTH Element, anticipated growth of the vehicle brands, makes and models that SXTH Element products support, and the other risks and uncertainties set forth in the Annual Report on Form 10-K for the year ended December 31, 2025 filed with the U.S. Securities and Exchange Commission (“SEC”) on March 16, 2026, and in any subsequent filings with the SEC.

About SXTH Element


SXTH Element is a Spartanburg, S.C.-based performance parts brand that designs and engineers forced-induction, airflow and off-road components for late-model Toyota trucks and SUVs, including the Tacoma, 4Runner, Tundra, Sequoia and Land Cruiser, along with select sport compact and off-road applications. Using CAD engineering and 3D scanning, the SXTH Element team designs its products in-house and tests them on-road for precise fitment and dyno-proven performance gains. SXTH Element is part of Holley Performance Brands’ Modern Truck & Off-Road consumer vertical grouping. For more information, visit sxthelement.com.

About Holley Performance Brands


Holley Performance Brands (NYSE: HLLY) is home to a portfolio of iconic brands that serve enthusiasts across the high-performance aftermarket. The company designs, engineers, manufactures and markets category-leading products and solutions for automotive enthusiasts through a focused portfolio spanning four consumer vertical groupings: American Performance, Modern Truck & Off-Road, Euro & Import, and Safety & Racing. For more than a century, Holley has built its reputation through innovation, technical expertise and a deep understanding of enthusiast culture. For more information, visit holley.com.

Media Relations Contact(s):

Nathan Espinosa, Michael Murray
Kahn Media
818-881-5246
[email protected]

Investor Relations Contact(s):

Sloan Bohlen, Jenna Kozlowski
Solebury Strategic Communications
203-428-3224
[email protected]

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/0cc11bc2-e02a-41a4-9d32-cc6e61afcd99

DENVER, Oct. 29, 2026 (GLOBE NEWSWIRE) — (www.247marketnews.com) As 2027 approaches, developments across the United States, Europe and Asia are giving patients, researchers and healthcare markets new reasons to pay attention. Artificial intelligence is helping scientists investigate treatments and connect medical knowledge. Clinical trials are showing survival gains in difficult cancers. Laboratory researchers are exploring ways to make cancer cells manufacture toxic compounds inside themselves and to guide malignant cells toward a more normal state.

These advances are at different stages of development. Together, they illustrate the expanding range of approaches researchers are bringing to the fight.

An important part of that progress is precision medicine: understanding the particular biology of a patient’s cancer and using that information to guide treatment. Two patients with cancer in the same organ can have tumors with different genetic changes or protein markers, potentially requiring different approaches. Biomarker testing helps identify those differences and can guide treatment selection and clinical-trial participation.

Anthropic is committing resources to childhood-cancer care. The company behind Claude has pledged computing credits and engineering resources to support the Pediatric Care eXpansion program, or PCX. The $50 million federal initiative, announced by the U.S. Advanced Research Projects Agency for Health, aims to connect more than 200 pediatric hospitals and care centers, beginning with childhood brain cancer.

The program is designed to help clinicians securely bring together medical records, imaging, laboratory results and genetic information, compare similar cases across institutions, and reach care decisions faster. Anthropic’s contribution supports the broader effort to make complex medical information more useful to the teams treating children.

Anthropic is also expanding its work in drug discovery. Its October 27 research update described collaborations involving antibody design, cancer immunotherapy and clinical-trial planning. Work with Generate Biomedicines (NASDAQ:GENB) aims to improve engineered immune-cell treatments for solid tumors, while a collaboration with Bristol Myers Squibb (NYSE:BMY) is expected to expand in 2027. Much of this research remains preclinical, with AI helping researchers develop possibilities that still require experimental validation.

NeOnc Technologies (NASDAQ:NTHI) illustrates how brain-cancer research is focusing on specific tumor subtypes. Its Phase 2a study of investigational NEO100 evaluated patients with recurrent or progressive high-grade gliomas carrying an IDH1 mutation. That genetic biomarker identifies a particular biological group within brain cancer.

Studying NEO100 in this defined population helps researchers investigate where the treatment may offer benefit. Larger controlled studies are needed to confirm effectiveness, and findings in this molecular subtype cannot automatically be extended to every brain tumor.

NeOnc has also outlined plans for an international trial targeting approximately 500 patients across 30 hospitals in three countries. Its NEO100 program uses delivery through the nose, an approach designed to help therapy reach the brain while bypassing the blood-brain barrier. A larger study could provide a more substantial evaluation beyond early observations in small patient groups.

The proposed scale was described in an October 26 company-sponsored report. These figures represent planned participation, rather than completed enrollment, and the proposed trial has not yet produced results.

For advanced stomach and related gastroesophageal cancers, AstraZeneca (NYSE:AZN) has reported encouraging survival results with sonesitatug vedotin. The treatment links an antibody targeting the CLDN18.2 protein to a cancer-killing drug, providing another example of matching treatment to tumor biology.

In the Phase 3 CLARITY-Gastric01 trial involving 532 patients with CLDN18.2-positive disease, median overall survival among patients receiving their third or later treatment increased from 5 months to 10 months compared with the physician’s choice of therapy. Across the full study population, median survival was 10.6 months versus 6.4 months.

The strongest evidence was in later treatment lines. Benefit after only one previous regimen was less certain, and the trial did not meet its statistical threshold for improving progression-free survival. Even with those limitations, the survival findings offer hope for patients facing limited treatment options.

In Japan, researchers at RIKEN and the Institute of Science Tokyo are investigating whether cancer’s own chemistry can help produce a treatment. Their system uses carbon monoxide generated inside cancer cells as an ingredient to manufacture an anticancer compound within those cells.

The team demonstrated drug formation and suppressed cancer-cell growth in laboratory experiments. The findings remain preliminary: the researchers described the effects as modest, and normal cells were less affected but were not completely unharmed. Animal and human studies are needed to determine whether the approach can become a useful treatment.

In South Korea, researchers at KAIST have explored whether cancer cells can be guided toward a more normal identity. Professor Kwang-Hyun Cho’s team identified three gene regulators, MYB, HDAC2 and FOXA2, whose simultaneous suppression made colorectal cancer cells grow more slowly and develop characteristics resembling mature intestinal cells.

Mice implanted with the altered cells also developed smaller tumors than controls. These findings support further investigation of cancer-cell reprogramming, although a “normal-like” state does not establish permanent restoration to healthy cells or a cure in people.

The promise of 2027 lies in taking these next steps: testing ambitious ideas, building stronger clinical evidence and making useful discoveries available to patients. For families living with cancer, progress can mean another birthday, more time together and more opportunities to find a treatment that works.

About 24/7 Market News

In today’s fast-moving markets, visibility is everything and 24/7 Market News (24/7) provides a powerful suite of investor relations and public relations solutions designed to elevate your company’s profile quickly and effectively. Whether you’re an established name seeking broader awareness, or a micro-cap looking to break out of obscurity, 24/7 delivers targeted, high-impact coverage through timely news distribution, analyst report placements, featured editorials, and multi-channel amplification across financial platforms, social media, and investor communities. Our services help cut through the noise, attract institutional interest, drive exposure, and build long-term shareholder credibility, all while maintaining full SEC compliance and transparency. For Analyst Report coverage, custom IR campaigns, press release syndication, or other tailored investor and public relations solutions, contact [email protected] to discuss how 24/7 can help accelerate your company’s visibility and valuation trajectory.

PAID EDITORIAL DISCLOSURE: This is a paid editorial communication intended for informational purposes only. 24/7 is compensated by NTHI to provide ongoing news coverage of expected upcoming catalysts and events as well as market outreach services. For further disclosure information, please click here. This should not be construed as financial or investment advice. Trading involves substantial risk; consult your financial advisor.

Important Editorial Note: 247 highlights companies approaching significant catalysts and inflection points. This report reflects information available at the time of publication. Since developments can occur rapidly, readers should independently verify current information and review all company filings and disclosures.

CONTACT:

24/7 Market News
[email protected]

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements that are subject to various risks and uncertainties. Such statements include statements regarding the Company’s ability to grow its business and other statements that are not historical facts, including statements which may be accompanied by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Actual results could differ materially from those described in these forward-looking statements due to a number of factors, including without limitation, the Company’s ability to continue as a going concern, general economic conditions, and other risk factors detailed in the Company’s filings with the SEC. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake any responsibility to update such forward-looking statements except in accordance with applicable law.