Ms. Elena Milantoni reports

MAGELLAN AEROSPACE ANNOUNCES QUARTERLY DIVIDEND

Magellan Aerospace Corp.'s board of directors has declared a quarterly cash dividend of five cents per share on the corporation's common shares, an increase of 2.5 cents from the corporation's quarterly dividend paid in the first quarter of 2025. The increase in the dividend rate is reflective of the corporation's improving balance sheet and financial results. The dividend is payable on June 30, 2025, to stockholders of record at the close of business on June 16, 2025.

About Magellan Aerospace Corp.

Magellan Aerospace is a global aerospace company that provides complex assemblies and system 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, and 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, with operating units throughout North America, Europe and India.