MDA SPACE AND HANWHA SIGN MOU TO PURSUE KOREAN MILITARY CONSTELLATION PROGRAM

Executive Summary

• MDA Space (TSX:MDA) and Hanwha Systems have signed a Memorandum of Understanding to explore collaboration on Korea’s sovereign Low‑Earth‑Orbit defence constellation (K‑LEO).
• The partnership will assess how MDA’s AURORA software‑defined digital satellite platform can meet the evolving mission requirements of the K‑LEO programme.
• Both CEOs highlighted the strategic importance of the alliance for advancing Korea’s national‑defence space capabilities and expanding MDA’s presence in the Korean defence market.

Key Details

• Parties Involved: MDA Space Ltd. (Canada) and Hanwha Systems Co., Ltd. (South Korea).
• Objective: Joint evaluation of opportunities to develop and supply satellite solutions for the K‑LEO defence constellation, a flagship Korean national security initiative.
• Technology Focus: MDA’s AURORA software‑defined digital satellites, offering flexible architecture, mission‑critical resilience, and scalable performance.
• Potential Benefits: Enhanced operational efficiency for Hanwha, expanded market access for MDA in the Korean defence sector, and contribution to Korea’s sovereign communications and data services for national security.
• Quotes:
• “We are honoured to partner with Hanwha… this collaboration highlights the global confidence in MDA AURORA’s secure dual‑use software‑defined satellite technology…” – Mike Greenley, CEO, MDA Space.
• “This MOU marks an important first step… we will continue to assess next‑generation satellite solutions capable of addressing evolving operational requirements.” – Jae‑il Son, CEO, Hanwha Systems.

Notable Quotes

• Mike Greenley (MDA Space CEO): “Together with Hanwha, we look forward to advancing Korea’s defence infrastructure and enabling a new era of secure connectivity.”
• Jae‑il Son (Hanwha Systems CEO): “We will continue to assess next‑generation satellite solutions capable of addressing evolving operational requirements.”

Materiality Assessment

• Non-Material – Positive – The MOU does not contain immediate financial commitments or earnings impact but signals a potentially valuable strategic opportunity for future revenue growth.