Ms. Amy MacLeod reports

MDA SPACE ANNOUNCES CLOSING OF INITIAL PUBLIC OFFERING IN THE UNITED STATES

MDA Space Ltd. has closed its previously announced marketed public offering of common shares of MDA Space in the United States and Canada, representing the company's initial public offering in the United States and the listing of its common shares on the New York Stock Exchange. A total of 9,836,065 common shares were issued and sold at a price of $30.50 (U.S.) per share for gross proceeds to the company of approximately $300-million (U.S.).

The offering was conducted through a syndicate of underwriters led by J.P. Morgan and RBC Capital Markets, as joint lead active bookrunners, and BMO Capital Markets, Deutsche Bank Securities, Jefferies, Bank of Nova Scotia and Canaccord Genuity, as joint active bookrunners.

MDA Space intends to use the net proceeds of the offering to allow the company to pursue its growth strategies, including expanding its customer base and solutions, supporting the growth of existing customers, and pursuing other strategic opportunities, which may include acquisitions or investments. MDA Space may also use a portion of the net proceeds of the offering for general corporate purposes, including the repayment of a portion of amounts outstanding under the company's existing credit facilities.

About MDA Space Ltd.

Building the space between proven and possible, MDA Space is a trusted mission partner to the global defence and 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 global MDA Space team of more than 4,000 space experts 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.

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