Ms. Laura Podaima reports

MAGELLAN AEROSPACE SIGNS LONG TERM AGREEMENTS WITH PRATT & WHITNEY

Magellan Aerospace Corp. has signed significant long-term agreements with Pratt & Whitney, an RTX business. These important contracts renew existing agreements and cover the supply of complex castings used on a number of legacy and new engine programs. Magellan's Haley, Ont., facility and its Glendale, Ariz., facility will produce the castings.

The renewal of these agreements is a testament to the long-standing business relationship Magellan and Pratt & Whitney have enjoyed since the 1960s and secures the company's collaboration for the next period of performance. Magellan supplies complex castings for civil and defence, fixed-wing, and rotorcraft programs across the globe.

"These agreements mark a major milestone for our companies, leveraging our expertise and innovations to achieve shared success," said Mr. Haydn Martin, Magellan's vice-president, business development, marketing and contracts.

Magellan manufactures highly complex components for the commercial and defence aerospace market including engine housings, gearboxes, and front frame and fan cases. Magellan is a global industry leader in the optimization of 3-D sand printing, automated pouring and finishing, robotics, and digital radiography to achieve the highest standard of product and performance while remaining cost competitive.

About Magellan Aerospace Corp.

Magellan Aerospace is a global aerospace company that provides complex assemblies and systems solutions to aircraft and engine manufacturers, and defence and space agencies worldwide. Magellan designs and manufactures aeroengine and aerostructure assemblies and components for aerospace markets, advanced proprietary products for military and space markets, and provides engine and component repair and overhaul services worldwide. Magellan is a public company whose shares trade on the Toronto Stock Exchange (TSX: MAL), with operating units throughout North America, Europe and India.

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