Mr. Linda Hasenfratz reports

LINAMAR'S DIVERSIFIED BUSINESSES DELIVER ANOTHER QUARTER OF OUTSTANDING DOUBLE-DIGIT EARNINGS GROWTH

Linamar Corp. has released its first quarter results for 2024.

Strong financial performance

• Sales up 18.7 per cent to $2.72-billion in Q1 2024;
• Normalized operating earnings up 38.7 per cent in Q1 2024;
• Normalized diluted earnings per share up 30.8 per cent in Q1 2024.

Mobility segment performing

• Mobility segment finished the quarter strong with normalized operating earnings up 57.9 per cent compared with Q1 2023;
• Second consecutive quarter of margin expansion with normalized operating earnings margin reaching 6.2 per cent, meaningfully improved from 2023 levels.

Diversified strategy success

• Industrial normalized operating earnings up 23.3 per cent over Q1 2023, anchoring solid overall performance further validating diversification strategy;
• Industrial normalized operating earnings representing over 49 per cent of consolidated normalized operating earnings solidly anchoring Linamar as a diversified industrial business;
• The acquisition of Bourgault Industries Ltd. completed, expanding the company's agricultural profile to include broad acre seeding.

Double-digit sales growth in both segments on strong market share growth

• Sales up 24.5 per cent for industrial for the quarter, due to exceptional global market share growth for combine drapers combined with the company's most recent acquisition of Bourgault;
• Sales up 16.7 per cent for mobility in the quarter, driven by both its Linamar Structures 2023 acquisitions as well as launching programs and increased volumes;
• Content per vehicle (CPV) up in every region, North American CPV hit a new quarterly record reflective of continued market share growth.

Returning cash to shareholders

• Linamar is maintaining its dividend to shareholders at quarterly 25 cents per share.

"Q1 marked an outstanding start to the year for us at Linamar, with excellent double-digit growth in both segments setting the baseline for yet another year of double-digit earnings growth," said Linamar executive chair and chief executive officer Linda Hasenfratz. "With industrial segment earnings consistently generating half or more of our earnings we can mark a successful transition of Linamar to a diversified industrial business. It is great to see all parts of our business performing, growing market share, sales and earnings so effectively."

Dividends

The board of directors today declared an eligible dividend in respect to the quarter ended March 31, 2024, of 25 cents per share on the common shares of the company, payable on or after June 7, 2024, to shareholders of record on May 27, 2024.

Conference call information

Q1 2024 release information

Linamar will hold a webcast call on May 8, 2024, at 5 p.m. ET to discuss its first quarter results. The event will be simulcast and can be accessed at the company website. For those who wish to listen to an audio-only call-in option, the numbers for this call are 1-888-259-6580 (North America) or 1-416-764-8624 (international), conference ID 90762585, with a call-in required 15 minutes prior to the start of the webcast. The conference call will be chaired by Linda Hasenfratz, Linamar's executive chair and chief executive officer. A copy of the company's quarterly financial statements, including the management's discussion and analysis, will be available on the company's website after 4 p.m. ET on May 8, 2024, and at SEDAR+ by the start of business on May 9, 2024. The webcast replay will be available at the company's website after the call. A taped replay of the conference call will also be made available starting at 8 p.m. ET on May 8, 2024, for seven days. The number for the replay is 1-877-674-7070 or 1-416-764-8692, pass code: 762585 followed by the pound key. In addition, a recording of the call will be posted at the Linamar website.

Q2 2024 release information

Linamar will hold a webcast call on Aug. 8, 2024, at 5 p.m. ET to discuss its second quarter results. The event will be simulcast and can be accessed at the company's website. For those who wish to listen to an audio-only call-in option, the numbers for this call are 1-888 259-6580 (North America) or 1-416-764-8624 (international), conference ID 60435601, with a call-in required 15 minutes prior to the start of the webcast. The conference call will be chaired by Linda Hasenfratz, Linamar's executive chair and chief executive officer. A copy of the company's quarterly financial statements, including the management's discussion and analysis, will be available on the company's website after 4 p.m. ET on Aug. 8, 2024, and at SEDAR+ by the start of business on Aug. 9, 2024. The webcast replay will be available at the company's website after the call. A taped replay of the conference call will also be made available starting at 8 p.m. ET on Aug. 8, 2024, for seven days. The number for the replay is 1-877-674-7070 or 1-416-764-8692, pass code: 435601 followed by the pound key. In addition, a recording of the call will be posted at the Linamar website.

About Linamar Corp.

Linamar is an advanced manufacturing company where the intersection of leading-edge technology and deep manufacturing expertise is creating solutions that power vehicles, motion, work and lives for the future. The company is made up of two operating segments -- the industrial segment and the mobility segment, both global leaders in manufacturing solutions and world-class developers of highly engineered products. The industrial segment comprises Skyjack and the newly formed Linamar Agriculture operating group which consists of the MacDon, Salford and Bourgault brands. Skyjack manufactures scissors, boom and telehandler lifts for the aerial work platform industry. Within the agriculture portfolio MacDon manufactures combine draper headers and self-propelled windrowers for harvesting, Salford supplies farm tillage and crop fertilizer application equipment while Bourgault is a leader in air seeding technology. The mobility segment is focused on propulsion systems, structural and chassis systems, energy storage, and power generation for both the global electrified and traditionally powered vehicle markets. Operationally, mobility is organized into three regional groups North America, Europe, Asia Pacific and the new Linamar Structures product group. The regional mobility groups are vertically integrated operations combining expertise in light metal casting, forging, machining and assembly. The Linamar Structures group offers competitive lightweight innovations for safety-critical components and systems for the global mobility market. Design, development and testing services for the mobility segment are provided both by McLaren Engineering and for electrified solutions, the eLIN Product Solutions group. Linamar's medical solutions group, Linamar MedTech, focuses on manufacturing solutions for medical devices and precision medical components. Linamar has over 34,000 employees in 75 manufacturing locations, 17 R&D (research and development) centres and 31 sales offices in 19 countries in North and South America, Europe, and Asia, which generated sales of more than $9.7-billion in 2023.

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