Mr. Stephen Matier reports

INNOSPACE SIGNS LETTER OF INTENT WITH MARITIME LAUNCH TO EXPLORE LAUNCH OPERATIONS AT SPACEPORT NOVA SCOTIA

Maritime Launch Services Ltd. and Innospace (KS:462350), a South Korean satellite launch service provider, have entered into a non-binding letter of intent (LOI) to explore the potential hosting of Innospace's Hanbit launch system at Spaceport Nova Scotia, a commercial orbital launch facility in Canada.

The LOI establishes a strategic framework for the parties to assess the technical, regulatory and commercial feasibility of operating Innospace's Hanbit launch vehicle from Spaceport Nova Scotia.

"Spaceport Nova Scotia is being developed as a full-service, dual-use responsive spaceport, providing licensed site launch infrastructure, range co-ordination, safety oversight and scalable multipad capability," said Stephen Matier, president and chief executive officer of Maritime Launch Services. "This letter of intent reflects growing international demand and global interest in Nova Scotia as an emerging orbital launch location. We look forward to working with Innospace to evaluate how our strategic position on the Eastern Atlantic rim of North America can support their launch program while advancing reliable, repeatable access to orbit and strengthening Canada's commercial launch capability."

Innospace has established a global launch site network spanning Brazil, Australia and Portugal. Expansion into North America would further enhance geographic diversification and strengthen the company's ability to serve international satellite customers.

"North America represents a key market where global small satellite launch demand is concentrated. Following launch site agreements in Brazil, Australia and Europe, expanding our launch footprint into North America marks an important foundation for Innospace's next phase of growth as a global commercial launch service provider," said Soojong Kim, chief executive officer of Innospace. "Through our collaboration with Maritime Launch, we aim to gradually establish Hanbit's operational base in North America and continue strengthening our commercial launch competitiveness by delivering stable and efficient launch services demanded by global customers. With Hanbit's North American operational base, we hope to prioritize commercial launch services for Canadian government-developed satellites and private-sector customers.

For Maritime Launch Services, the LOI represents continued progress in positioning Spaceport Nova Scotia as a leading commercial orbital launch site in North America. The company is advancing licensed infrastructure designed to support multiple launch providers and deliver sovereign, reliable access to space for defence and commercial customers.

The global small satellite market continues to expand, driven by demand in telecommunications, Earth observation and data services. Both companies view geographically diversified launch infrastructure as increasingly important to commercial competitiveness and meeting growing customer demand.

The LOI provides a framework for continued discussions and does not create binding financial obligations for either party. The LOI is effective through Dec. 31, 2026, unless superseded by a definitive agreement.

About Maritime Launch Services Inc.

Maritime Launch is a Canadian-owned commercial space company based in Nova Scotia. Maritime Launch is developing Spaceport Nova Scotia, a dual-use commercial spaceport designed to support both civil and defence-related space missions. The spaceport will provide satellite launch services to domestic and international clients across the global commercial space market, supporting a wide range of orbital inclinations from a single location.

Spaceport Nova Scotia is Canada's first commercial orbital launch complex, enabling launch vehicles to place satellites into low Earth orbit.