Mr. Mike Greenley reports

MDA SPACE AWARDED INITIAL CONTRACT BY CANADIAN SPACE AGENCY FOR RADARSAT CONSTELLATION MISSION REPLENISHMENT SATELLITE

MDA Space Ltd. has been awarded a contract by Public Services and Procurement Canada on behalf of the Canadian Space Agency (CSA), valued at $44.7-million, to procure and deliver critical long lead parts in support of the Radarsat constellation mission (RCM) replenishment satellite development. The government of Canada further announced its intention to contract MDA Space to build, test and launch this additional satellite for the RCM. The contract for the full mission is expected to be awarded in 2026, subject to contract finalization and approvals.

These contracts are part of the government of Canada's $1.012-billion Radarsat+ initiative, a 15-year investment that the CSA announced in October, 2023, to support immediate and future satellite Earth observation needs. The initiative includes funding for a replenishment satellite for the RCM, as well as funding to initiate the definition of a next-generation national sovereign synthetic aperture radar (SAR) satellite system that will succeed the RCM.

In support of the development of the next-generation satellite system, MDA Space has also been awarded a contract for $747,000 to deliver a concept study focused on a modern, resilient radar satellite system that responds to the growing demands of government, industry and communities across Canada for space-based Earth observation data. MDA Space is one of three companies selected for a study contract.

"We are honoured to have been selected by the CSA to support the RCM replenishment satellite project," said Mike Greenley, chief executive officer of MDA Space. "By leveraging the advanced development of the MDA Chorus satellite design for this replenishment satellite, we can offer the CSA a cost-effective and timely solution that ensures continuity of service to meet the evolving needs of Canadian users. We look forward to finalizing the contract for the full mission and building upon our long history of collaboration to deliver critical space-based solutions for Canada."

Designed and built by MDA Space, the RCM satellites now in operation have been a vital resource for Canadian government departments, enabling them to deliver critical services to Canadians, including maritime surveillance, ecosystem monitoring and emergency management.

About MDA Space Ltd.

Building the space between proven and possible, MDA Space is a trusted mission partner to the global space industry. A robotics, satellite systems and geointelligence pioneer with a 55-plus-year story of world firsts and more than 450 missions, MDA Space is a global leader in communications satellites, Earth and space observation, and space exploration and infrastructure. The MDA Space team of more than 3,800 space experts in Canada, the United States and the United Kingdom has the knowledge and know-how to turn an audacious customer vision into an achievable mission -- bringing to bear a one-of-a-kind mix of experience, engineering excellence and wide-eyed wonder that has been in the company's DNA since day 1. For those who dream big and push boundaries on the ground and in the stars to change the world for the better, MDA Space will take you there.

We seek Safe Harbor.