MDA Space receives termination notice from EchoStar

Ms. Amy MacLeod reports MDA SPACE PROVIDES UPDATE ON ECHOSTAR CONTRACT MDA Space Ltd. has received a termination for convenience notification from EchoStar Corp. (Nasdaq: SATS) related to the constellation contract announced on Aug. 1, 2025. The contract termination is the result of a sudden change to EchoStar's business strategy and plan in the wake of spectrum allocation discussions with the Federal Communications Commission (FCC) in the United States. EchoStar has agreed to sell its AWS-4 and H-block spectrum licences to SpaceX. This arbitrary development is completely unrelated to MDA Space performance and the company's products and services. The company will be compensated for all related termination costs and fees as per the EchoStar contract. MDA Space has established a world leading digital satellite offering for communication constellations and continues to focus on the execution of its $4.6-billion backlog, excluding the EchoStar contract, providing revenue visibility for growth through 2025 and the next several years. The company reiterates its fiscal 2025 financial outlook and guidance announced on Aug. 7, 2025, while continuing to pursue a strong digital satellite constellation pipeline for both broadband data and direct-to-device communication satellites with commercial and government customers worldwide. Conference call MDA Space will host a call and webcast to discuss this contract development on Monday, Sept. 8, 2025, at 9 a.m. ET. Interested parties can join the call by dialling 416-945-7677 (Toronto area) or 1-888-699-1199 (toll-free North America) or 44-800-279-7040 (toll-free United Kingdom) and entering the conference ID 18416. A live webcast of the conference call will be available on the company's website. A replay of the conference will be archived on the MDA Space website following the call. Parties may also access a recording of the call which will be available until Sept. 15, 2025, by dialling 1-888-660-6345 and entering the pass code 18416 followed by the pound key. About MDA Space Ltd. Building the space between proven and possible, MDA Space is a trusted mission partner to the global space industry. A robotics, satellite systems and geointelligence pioneer with a 55-year-plus history 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 United States and the United Kingdom 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 the company's DNA since day 1. 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.