MDA SPACE PROVIDES UPDATE ON ECHOSTAR CONTRACT
BRAMPTON, ON, Sept. 8, 2025 /CNW/ - MDA Space Ltd. (TSX:MDA), a trusted mission partner to the rapidly expanding global space industry, has received a termination for convenience notification from EchoStar Corporation (NASDAQ:SATS) related to the constellation contract announced on August 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 licenses to SpaceX.
This arbitrary development is completely unrelated to MDA Space performance and our 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 August 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, September 8, 2025 at 9:00 a.m. ET. Interested parties can join the call by dialing 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 at https://mda-en.investorroom.com/events-presentations.
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 September 15, 2025, by dialing 1-888-660-6345 and entering the passcode 18416 #.
FORWARD-LOOKING STATEMENTS
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.
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 MDA Space team of more than 3,800 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.
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SOURCE MDA Space
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