MDA MDA Space Ltd

BRAMPTON, ON, March 21, 2024 /PRNewswire/ - Mike Greenley, CEO of MDA Space (TSX: MDA), was recognized as the 2023 Satellite Executive of the Year at the Satellite 2024 Conference taking place this week in Washington, D.C. Established in 1988 by Via Satellite Magazine, winners of the prestigious award are chosen based on their contributions to the global satellite markets, technologies and innovations, and business practices.

"As a CEO, you get to make a small number of strategic decisions including putting smart people in the right roles and giving them the room, encouragement and investment to lead," said Mike Greenley. "This award is a recognition of MDA Space and the growth and acceleration that we've lived through in the last few years, and it's a recognition of the industry and innovation leadership of our incredible Satellite Systems team who is among the best in the world. I am honoured to accept this award in recognition of all of their efforts."

Since taking the company public in 2021, Mr. Greenley has championed an ambitious strategy to shape MDA Space into a highly competitive pure-play space company focused on next-generation commercial space technologies that has seen the company double in size. A centerpiece of that strategy is to invest in and advance the company's digital satellite technologies and manufacturing capabilities to enable the industry shift from analog to digital – advances that helped to more than double the company's order backlog.

In 2023, Mike and the MDA Space Satellite Systems team elevated MDA's position as a satellite market leader with several significant and strategic moves, including two global constellation wins, a strategic acquisition, and the launch of a game-changing digital satellite product line, while simultaneously expanding MDA's high-volume manufacturing capabilities and operational footprint. These accomplishments include:

• Selection as prime contractor for the 198-satellite Telesat Lightspeed constellation with options for up to 100 additional satellites. The contract, valued at approximately $2.1 billion, is the largest in company's history.
  
  
• The acquisition of the digital payload division of SatixFy Communications Ltd, bolstering the company's digital satellite leadership and adding digital payload expertise and capacity.
  
  
• The introduction of a new software-defined digital satellite product line, leveraging standardized product development and high-volume manufacturing and changing the game for operators by improving constellation performance at reduced cost and time to market. Earlier this week, the company announced MDA AURORA as the new name for the product line; and
  
  
• The announcement of a second major constellation award with a $180 million authorization-to-proceed contract for a new Non-Geostationary Orbit (NGSO) satellite constellation.

To meet the needs of the growing global commercial space market, MDA Space has also invested in next-generation robotics and Earth observation capabilities, including:

• MDA CHORUS, a fourth-generation Earth observation constellation that builds on the legendary RADARSAT program that will provide market-leading data and insights; and,
  
  
• A new suite of cost-effective, flexible and readily-available commercial space robotics that can serve a variety of missions, leveraging best-in-class technology derived from Canadarm3.

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 3,000 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 – 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.

This press release contains forward-looking information within the meaning of applicable securities legislation, which reflects the Company's current expectations regarding future events. 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 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.

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SOURCE MDA Space