An anonymous director reports

MDA INITIATES WORK ON A NEW DIGITAL SATELLITE CONSTELLATION

MDA Ltd. has received an authorization to proceed (ATP) contract from an undisclosed customer to start work on a new non-geostationary orbit (NGSO) satellite constellation. The ATP, valued at approximately $180-million, is to immediately commence engineering and programmatic activities, including the procurement of long-lead items.

The full constellation, valued at a minimum of $750-million, is expected to include a minimum of 36 MDA software-defined digital satellites, a new MDA product recently introduced to the market. The definitive contract for the full constellation, for which MDA would be the prime contractor, is expected in 2024, subject to contract finalization.

The ATP contract will be added to MDA's backlog in the fourth quarter of fiscal 2023.

About MDA Inc.

Serving the world from its Canadian home and global offices, MDA is an international space mission partner and a robotics, satellite systems and geointelligence pioneer with a 50-year story of firsts on and above the Earth. With over 2,900 employees across Canada, the United States and the United Kingdom, MDA is leading the charge toward viable moon colonies, enhanced Earth observation, communication in a hyperconnected world and more. With a record of making space ambitions come true, MDA enables highly skilled people to continually push boundaries, tackle big challenges, and imagine solutions that inspire and endure to change the world for the better, on the ground and in the stars.

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