MDA Space Ltd. (TSX: MDA), a trusted mission partner to the rapidly expanding global space industry, announced today it 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 15â??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, CEO of MDA Space. "By leveraging the advanced development of the MDA CHORUSâ?¢ 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.

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking information within the meaning of applicable securities legislation, which reflects the company's current expectations regarding future events, including the award, approval and finalization of the contract for the full RCM mission.

Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the company's control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to, the factors discussed under "Risk Factors" in the company's most recent Annual Information Form available on SEDAR+ at www.sedarplus.com. MDA Space does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

ABOUT MDA SPACE

Building the space between proven and possible, MDA Space (TSX:MDA) is a trusted mission partner to the global space industry. A robotics, satellite systems and geointelligence pioneer with a 55-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 US and the UK has the knowledge and know-how to turn an audacious customer vision into an achievable mission â?? bringing to bear a one-of-a-kind mix of experience, engineering excellence and wide-eyed wonder that's been in our DNA since day one. For those who dream big and push boundaries on the ground and in the stars to change the world for the better, we'll take you there. For more information, visit www.mda.space.

SOCIAL MEDIA

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SOURCE MDA Space

SOURCE: MDA Space

MEDIA CONTACT: Amy MacLeod, Vice President, Corporate Communications, 613-796-6937,
amy.macleod@mda.space; INVESTOR CONTACT: Jim Floros, Vice President, Investor
Relations, 289 914-0209, jim.floros@mda.space

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