MDA SPACE ANNOUNCES OFFERING OF C$250 MILLION SENIOR UNSECURED NOTES DUE 2030

BRAMPTON, ON, Dec. 4, 2025 /PRNewswire/ - MDA Space Ltd. ("MDA Space" or the "Company") (TSX: MDA), announced today that it has priced a private placement offering (the "Offering") and entered into an underwriting agreement to sell, pursuant to the Offering, C$250 million aggregate principal amount of 7.00% senior unsecured notes due 2030 (the "Notes"). The Offering is expected to close on or about December 23, 2025, subject to customary closing conditions.

The Notes will be issued at a price of C$1,000 per C$1,000 principal amount of Notes. The Notes will be senior unsecured obligations of the Company, ranking pari passu in right of payment with all existing and future senior unsecured indebtedness of the Company, and will be guaranteed by certain of the Company's subsidiaries. Interest on the Notes will accrue at a rate of 7.00% per annum, payable semi-annually in arrears on June 23 and December 23 of each year, commencing on June 23, 2026.

The Company also announced that its subsidiary, Neptune Operations Ltd. (the "Borrower") entered into a second Amended and Restated Credit Agreement dated November 25, 2025 between, among others, the Borrower, as  borrower, the Company, as guarantor, and certain other guarantors party thereto from time to time, the lenders party thereto from time to time and The Bank of Nova Scotia, as administrative agent (the "Credit Agreement"). The Credit Agreement, among other things: (i) permits the Offering; (ii) provides for a C$150,000,000 accordion feature at the sole discretion of the lenders, potentially increasing the aggregate credit facilities to C$850,000,000 if exercised by the Borrower in the future; and (iii) extends the maturity date therein to November 25, 2030, subject to an accelerated maturity provision that could be triggered if the Notes aren't refinanced at least six months prior to November 25, 2030.

The Company intends to use the net proceeds of the Offering to refinance existing outstanding indebtedness under the Credit Agreement.

"We are pleased with the strong market demand for our notes. This new unsecured note offering and the refinancing of our existing senior facility reflects a strategic and timely evolution of the MDA Space capital structure. The refinancing provides flexibility and liquidity as we continue to pursue market growth opportunities," said Guillaume Lavoie, Chief Financial Officer of MDA Space.

The Notes are being offered through a syndicate of underwriters led by RBC Capital Markets, BMO Capital Markets and Scotiabank.

The Notes are being offered for sale in each of the provinces of Canada to "accredited investors" on a private placement basis, in reliance upon exemptions from the prospectus requirements under applicable Canadian securities laws. The Notes have not been registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and are being offered and sold in the United States only to qualified institutional buyers, pursuant to Rule 144A of the U.S. Securities Act, and outside the United States in offshore transactions in reliance upon Regulation S under the U.S. Securities Act.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy the Notes, nor shall there be any offer or sale of the Notes in any jurisdiction in which such offer, solicitation or sale would be unlawful.

A copy of the Credit Agreement will be filed with the applicable securities commission and will be available for viewing on the Company's SEDAR+ profile.

About MDA Space

 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 global MDA Space team of more than 3,800 space experts 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 the Company's filings on SEDAR+ and the Company's Investor Relations website at www.mda-en.investorroom.com.

Forward-Looking Statements

This news release contains certain statements that may constitute "forward-looking information" within the meaning of applicable securities laws ("forward-looking statements"). When used in this news release, forward-looking statements often but not always, can be identified by the use of forward-looking words such as, including but not limited to, "may", "will", "would", "should", "expect", "believe", "intend", "future" and other similar terminology or the negative or inverse of such words or terminology. Forward-looking statements in this news release includes, without limitation, statements with respect to the size and terms of the Offering, the use of proceeds therefrom, and the timing and successful completion of the Offering. Forward-looking statements are based on certain assumptions and analyses (including the timing and success of the Offering) made by the Company in light of management's experience and perception of historical trends, current conditions and expected future developments and other factors it believes are appropriate, and are subject to risks and uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from those anticipated in such forward-looking statements for a variety of reasons, including without limitation the risks and uncertainties detailed under the "Risk Factors" section of the Company's annual information form dated March 7, 2025. Although the Company believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect and there can be no assurance that actual results will be consistent with the forward-looking statements. There are a number of additional risks and uncertainties affecting or that could affect MDA Space, which could cause actual results and developments to differ materially from those described in, expressed or implied by these forward-looking statements. Accordingly, readers should not place undue reliance on any forward-looking statements or information. These forward-looking statements speak only as of the date of this news release.  Except as required by law, MDA Space is not under any obligation, and expressly disclaims any intention or obligation, to update or revise any forward- looking statements, whether as a result of new information, future events or otherwise.

SOCIAL MEDIA

LinkedIn:         linkedin.com/company/mdaspace
X:                     twitter.com/MDA_space
Facebook:       facebook.com/MDAspace
YouTube:        youtube.com/c/mdaspace
Instagram:       instagram.com/MDA_space

View original content to download multimedia:https://www.prnewswire.com/news-releases/mda-space-announces-offering-of-c250-million-senior-unsecured-notes-due-2030-302633626.html

SOURCE MDA Space