Mr. Haydn Martin reports

MAGELLAN AEROSPACE ANNOUNCES CONTRACTS TO PRODUCE AIRCRAFT ILLUMINATION FLARES

Magellan Aerospace Corp. has signed an agreement with the Canadian government for the provision of LUU-2 illumination flares for the Royal Canadian Air Force (RCAF). The $39-million, four-year contract commences in 2024 and involves the manufacture, assembly and delivery of LUU-2 flares from Magellan Aerospace, Winnipeg's propellant plant in Manitoba, Canada.

The LUU-2 is an air-deployed high-intensity illumination flare. The RCAF utilizes the LUU-2 to support nighttime search and rescue operations with illumination. The flares produce about 1.8 million candlepower of visual illumination for five minutes. The LUU-2 flare is a vital resource for the men and women in the armed forces who are called on in times of need or crisis.

Haydn Martin, Magellan's vice-president, business development, marketing and contracts, said: "Magellan Aerospace, Winnipeg has been in operation since 1930 and has amassed a legacy of providing military aircraft and critical mission equipment, supporting Canada's military during times of conflict as well as in times of peace. Magellan appreciates the continued confidence of the Canadian government and takes great pride in delivering mission critical products and services to the Canadian Armed Forces for more than 80 years."

Second only to the U.S. military, the Canadian Armed Forces is the largest user of LUU-2 flares in the world.

About Magellan Aerospace Corp.

Magellan Aerospace is a global aerospace company that provides complex assemblies and systems solutions to aircraft and engine manufacturers, and defence and space agencies worldwide. Magellan designs and manufactures aeroengine and aerostructure assemblies and components for aerospace markets, advanced proprietary products for military and space markets, and provides engine and component repair and overhaul services worldwide. Magellan is a public company whose shares trade on the Toronto Stock Exchange, with operating units throughout North America, Europe and India.

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