Ms. Amy MacLeod reports

MDA SPACE ANNOUNCES EXERCISE OF OVER-ALLOTMENT OPTION IN INITIAL PUBLIC OFFERING IN THE UNITED STATES

In connection with a recently completed marketed public offering of common shares of MDA Space Ltd., underwriters have exercised their overallotment option to purchase an additional 1,344,071 common shares at the price to the public of $30.50 (U.S.) per common share for additional aggregate gross proceeds to the company of approximately $41-million (U.S.). The exercise of the overallotment option increases the total gross proceeds of the offering to approximately $341-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, Scotiabank and Canaccord Genuity, as joint active bookrunners.

As previously announced, 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 system 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 its 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, the company will take you there.

We seek Safe Harbor.