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/C O R R E C T I O N — MDA Space/

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In the news release, MDA Space announces definitive agreement to acquire US-based Blue Canyon Technologies LLC, issued 19-Jun-2026 by MDA Space over PR Newswire, we are advised by the company that a change has been made. The complete, corrected release follows:

MDA Space announces definitive agreement to acquire US-based Blue Canyon Technologies LLC

Expands Total Addressable Market for MDA SpacePositions company to further pursue substantial US defence market opportunitiesAdds a profitable, cash-generating business with 18-year historyTransaction expected to be accretive to Adjusted EBITDA1 and Adjusted EPS1 in 2027Adds high-quality spacecraft and satellite component supplier business and US$3.5B (approx. C$4.9B) to pipelineComplementary technology and customer setAdds key talent & manufacturing facilities in Denver, Colorado space & aerospace hub

TORONTO, June 19, 2026 /PRNewswire/ – MDA Space Ltd. (TSX:MDA) (NYSE:MDA) (the “Company”), a trusted mission partner to the rapidly expanding global space industry, has signed a definitive agreement to acquire 100% of the membership interests of Blue Canyon Technologies LLC in an all-cash transaction for a purchase price and enterprise value of US$620 million (approximately C$874 million), subject to purchase price adjustments. Blue Canyon Technologies (BCT) is a spacecraft and satellite component manufacturer and mission services provider, currently part of RTX’s Raytheon business.

With more than 85 spacecraft launched and 3,500+ products on orbit, BCT has established impressive flight heritage and mission success since the company was founded in 2008. Once completed, the transaction is expected to provide MDA Space with a strategic business and manufacturing footprint to capitalize on growing demand in the US government market for defence space missions. With over 400 highly skilled employees and two manufacturing facilities in the Denver, Colorado space and aerospace hub, BCT offers a diverse and innovative product portfolio that enables a broad range of missions for the space economy.

“The acquisition of Blue Canyon Technologies is expected to accelerate our growth strategy by increasing our US market opportunities with highly complementary capabilities, local manufacturing footprint and a skilled and specialized talent base,” said Mike Greenley, CEO of MDA Space. “Securing those strategic benefits on an accretive basis with a profitable and cash-generating business makes this an ideal fit for MDA Space expansion and continued shareholder value creation.” 

Transaction Details

The transaction will add a profitable, cash-generating business that is expected to be accretive to Adjusted EBITDA and Adjusted EPS in 2027. With an 18-year history, BCT is a high-quality spacecraft and satellite component supplier that will add US$3.5B (approximately C$4.9B) to our opportunity pipeline. The transaction is expected to close by the end of 2026, subject to customary closing conditions and required regulatory approvals, and is fully committed and financed at signing through senior secured debt. As part of our ongoing capital allocation framework, we will evaluate opportunities to optimize our capital structure over time, subject to market conditions and broader capital deployment priorities. This transaction is expected to result in 2026 pro forma leverage within our stated target range of 1.5x to 2.5x net debt to last twelve months adjusted EBITDA. 

Conference Call

MDA Space will host a conference call and webcast to discuss the transaction on Friday, June 19, 2026 at 8:30 a.m. ET. Interested parties can join the call by dialing 1-416-945-7677 (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 30111. A live webcast of the conference call and an accompanying slide presentation will be available at https://mda-en.investorroom.com/events-presentations.

A replay of the webcast will be archived on the MDA Space Investor Relations website following the call. Parties may also access a recording of the call, which will be available until June 26, 2026, by dialing 1-888-660-6345 and entering the passcode 30111#.

FORWARD-LOOKING STATEMENTS
This press release may contain forward-looking information within the meaning of applicable securities legislation, which reflects the company’s current expectations regarding future events. Such forward-looking information includes, but is not limited to, information with respect to the Company’s objectives and strategies to achieve these objectives, as well as information with respect to the Company’s beliefs, plans, expectations, anticipations, estimates, intentions and views of future events, including statements regarding the proposed acquisition, the anticipated timing for the closing of the acquisition, the anticipated benefits, synergies and growth opportunities expected to result from the acquisition, and any projected, estimated or forecasted financial information presented in connection therewith. There can be no assurance that: (i) the acquisition will be completed on the anticipated timeline, or at all, and the closing of the acquisition may be delayed or may not occur within the anticipated timeframe or at all; (ii) the conditions to the closing of the acquisition will be satisfied, including the receipt of all required regulatory, governmental and third-party approvals, and the failure to obtain any such approvals or satisfy any such conditions could delay or prevent the closing of the acquisition; (iii) any projected, estimated or forecasted financial information presented in connection with the acquisition will be achieved, as such projections are based on assumptions that may prove to be incorrect, and actual results may differ materially from those projected, estimated or forecasted; and (iv) the anticipated strategic benefits, growth opportunities and synergies described in connection with the acquisition will be realized as expected, or at all, as such benefits may take longer to realize than anticipated, may be more costly to achieve than expected, or may not be realized at all.

All forward-looking statements are based on assumptions and analyses made by MDA Space 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 MDA Space to differ materially from those anticipated in such forward-looking statements for a variety of reasons, including without limitation the risk that the acquisition will not be completed on the anticipated timeline or at all, the risk that conditions to the closing of the acquisition will not be satisfied, including the receipt of all required regulatory, governmental and third-party approvals, and the risks and uncertainties detailed under the “Risk Factors” section of MDA Space’s annual information form dated March 4, 2026. Although MDA Space 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. Accordingly, readers should not place undue reliance on any forward-looking statements or information included within this press release. 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.

ABOUT MDA SPACE
Building the space between proven and possible, MDA Space (TSX:MDA) (NYSE:MDA) is a trusted mission partner to the global defence and 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 4,000 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 mda.space.

SOCIAL MEDIA
LinkedIn: LinkedIn.com/company/MDAspace
X: X.com/MDA_space
Facebook: Facebook.com/MDAspace
YouTube: YouTube.com/c/MDAspace
Instagram: instagram.com/MDA_space

1 Non-IFRS measure

Correction: The MDA logo has been exchanged for the MDA Space logo.

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Bridge Alliance API Exchange (BAEx) Accelerates Regional Network API Adoption with Early Enterprise Customers and Market Expansion

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SINGAPORE, Nov. 3, 2026 /PRNewswire/ — Bridge Alliance, the leading mobile alliance for operators globally, today announced the commercial realisation of regional network APIs through early enterprise customers via the Bridge Alliance API Exchange (BAEx). Companies from the cloud services, mobile gaming and fintech sectors are leveraging network APIs through BAEx to power diverse digital services, demonstrating the growing commercial potential of operator network capabilities across the region.

Number Verify is one of the first APIs adopted by the companies. Number Verify confirms that the phone number a user provides is the same one they are using to access an online service or app. With digital fraud and scams a growing concern in Asia-Pacific, silent network authentication APIs such as Number Verify could authenticate users and enable service providers to build greater consumer trust. These initial deployments are intended as a foundation: as the commercial pilots progress, several of the enterprise customers will evaluate additional BAEx APIs, built on GSMA Open Gateway and CAMARA standards, and telco signals for identity verification and fraud detection.

Mr Loo Boon Chee, CEO of Bridge Alliance, said, “We warmly welcome our new BAEx customers and partners!  There has been a lot of pent-up demand and clear use cases for APIs among enterprises. We’ve worked hard to bring API capabilities together in a single platform that enables them consistent access, backed by our commercial model packaged and priced to market needs. BAEx has thus turned network API potential into a commercial reality, closing the network API demand and supply gap. We look forward to having more enterprise customers on board as we continue to add to the APIs available on BAEx.”

Mr Max Wang, Head of Cloud Communication International Business Operations, Alibaba Cloud, said, “In the era of AI, secure identity is paramount. Just as Alibaba Cloud championed Number Verify in China, Bridge Alliance now leads its adoption across APAC. As one of the original signatories with GSMA to champion this technology, we firmly believe it will eliminate mobile authentication friction and combat artificially inflated SMS traffic. By advancing Number Verify and the broader CAMARA framework, we empower enterprises to deliver seamless, trusted, and efficient digital services.”

New channel partners on board

Meanwhile, Bridge Alliance has inked strategic partnership agreements with new BAEx partners MX Labs, SBTS and TMT ID. These channel partners will connect more enterprise customers to BAEx in the coming months. MX Labs, a Singapore-based messaging infrastructure provider, brings an established enterprise base ready to move beyond SMS-based verification. SBTS, a SoftBank subsidiary, brings extensive identity and fraud detection capabilities. TMT ID, a specialist in network intelligence, uses network APIs to support identity verification and frictionless onboarding.

Mr Xinkai Chua, Managing Director of MX Labs, said, “BAEx gives us a single integration into Bridge Alliance’s member operators, so we can bring network-based number verification to our customers across Asia without building market by market. Silent verification over the mobile network cuts sign-up friction and fraud, and reduces reliance on SMS one-time passwords. We look forward to growing with BAEx as more markets and APIs come live.”

Mr John Tolton, Senior Vice President, Strategic Business Development, SBTS, said, “At SBTS, our ambition is to bring the value of the network closer to the enterprise, turning network intelligence into solutions that address real challenges in identity, trust and fraud prevention. BAEx brings us closer to that goal, creating a path to scale these solutions and make network intelligence an integral part of the digital customer journey.”

Mr Fergal Parkinson, CMO and Co-Founder of TMT ID, said: “We are delighted to collaborate with Bridge Alliance, which provides us the regional infrastructure to scale, ensuring our clients can verify genuine users and block high-risk interactions in milliseconds. By joining forces, we are expanding our operational footprint across Asia, enabling us to deliver secure, frictionless identity verification to enterprises, developers, and leading social media platforms in the region.”

BAEx Partner Programme welcomes Proximus Global

Bridge Alliance also welcomes Proximus Global, a subsidiary of Proximus, to the BAEx Partner Programme. Drawing on its distinct international experience, Proximus Global will share valuable lessons and expertise with fellow participants in technical workstreams. The Programme’s continued expansion and valuable insights from a wide spectrum of members and markets supports greater API innovation, development and standardisation, and market readiness across the region.

New markets, new APIs, new possibilities

BAEx is now expanding its presence to India and the Philippines, in addition to Indonesia, Malaysia, Taiwan and Thailand which Bridge Alliance lighted up in November 2025. API availability in these two new markets will enable proofs of concept and the development of new digital services in the coming months. Singapore and Vietnam will follow in the first quarter of 2027, extending BAEx coverage across most of Southeast Asia.

Meanwhile, Bridge Alliance’s collaboration with Aduna Global is also accelerating  global access to APIs. The combined coverage of BAEx and Aduna enables both organisations’ partners across North America, Europe and Asia to consume network APIs with ease.  Bridge Alliance and Aduna are jointly organising the inaugural Global API Forum in Singapore on 3 November 2026. The event brings together over 300 operators, developers, solution providers, and enterprise customers to discuss the challenges, opportunities, and real-world applications of API adoption.

BAEx already offers silent network authentication APIs such as Number Verify and SIM Swap, which enable secure and seamless verification. By 4Q2026, BAEx will add Know-Your-Customer (KYC) APIs to its portfolio, including KYC Match, KYC Age, KYC Tenure and Number Recycling, which verify user details against operator records. These APIs will add trust and security to digital transactions, helping enterprises prevent mule accounts and seamlessly verify delivery and marketing data.

Enterprises interested to learn more about BAEx can contact Bridge Alliance here: https://www.bridgealliance.com/how_we_help/baex-enterprises/

About Bridge Alliance

Bridge Alliance is the global collective of premier mobile operators, representing nearly 2 billion customers across the world’s most dynamic markets. Founded in 2004, we drive deep strategic collaboration between leading operators and technology partners to unlock enterprise growth. By leveraging group economies and shared innovation, we empower our ecosystem to lead, scale, and thrive in the digital and AI era. 

Visit www.bridgealliance.com for more information. 

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XTransfer and Bank of China (Hong Kong) Announce Partnership at Hong Kong FinTech Week

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Empowering Global Collections and Payments for Foreign Trade Enterprises

HONG KONG, Nov. 3, 2026 /PRNewswire/ — XTransfer, the world’s leading B2B cross-border trade payment platform, and Bank of China (Hong Kong) (“BOCHK”) are pleased to announce the signing of a cooperation agreement. The two parties will work together to expand their international business, providing one-stop cross-border financial services, including global collections, payments, and foreign exchange, for enterprises engaged in international trade in Hong Kong and around the world.

Coinciding with Hong Kong FinTech Week 2026, Mr Martin Liu, Vice President of XTransfer and Ms Winnie Fan, Deputy General Manager of the Global Corporate Banking Department of BOCHK, officially signed the cooperation agreement at the XTransfer booth, witnessed by Mr Bill Deng, Founder and CEO of XTransfer and Mr Liu Chao, General Manager of the Global Corporate Banking Department of BOCHK, marking a new stage in the partnership between the two parties.

Under this cooperation, XTransfer and BOCHK will collaborate in depth across business areas including global collections, payments, and foreign exchange. Leveraging BOCHK’s professional capabilities in cross-border settlement and foreign exchange trading, as well as its unique position as the RMB clearing bank in Hong Kong, combined with XTransfer’s self-built globally unified B2B cross-border settlement network and risk management system, the two parties will jointly create an efficient, lower-cost, and compliant fund collection, payment, and currency exchange experience for foreign trade enterprises. Under this cooperation model, XTransfer is the first corporate partner of BOCHK.

As the cooperation progresses, foreign trade enterprises in Hong Kong and around the world will be able to access global cross-border collection, payment, and foreign exchange services more conveniently, meeting their multi-currency transaction and settlement needs across different markets. Both parties expect that by reducing the handover points in cross-border transaction processes, they can enhance the service experience and capital turnover efficiency, helping enterprises seize global trade opportunities more flexibly.

This cooperation also reflects XTransfer’s continuously deepening Financial Institution Partnership Model. Financial institution partners can act as “Co-builders”, providing cross-border collection, payment, and foreign exchange capabilities; at the same time, through XTransfer’s network covering over one million business customers, they can reach more enterprise customer segments with cross-border financial service needs, achieving complementary capabilities and shared strengths.

Mr Bill Deng, Founder and CEO of XTransfer, said, “We are very honored to sign the cooperation agreement with BOCHK during Hong Kong FinTech Week. BOCHK is one of Hong Kong’s most representative banks, with deep expertise in cross-border settlement and foreign exchange services. This cooperation combines the strengths of both parties, enabling SMEs to enjoy cross-border financial services of the same standard as large multinational corporations. Going forward, we will continue to refine our compliance and risk control capabilities and work with more financial institution partners to build trustworthy cross-border financial infrastructure.

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PATEO Advances In-Vehicle AI with NVIDIA Nemotron and ByteDance Doubao on its AI Box built on NVIDIA DRIVE AGX Thor

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SHANGHAI, Nov. 3, 2026 /PRNewswire/ — PATEO is advancing in-vehicle AI by deploying NVIDIA Nemotron and the 35-billion-parameter ByteDance Doubao language model in its AI Box, built on NVIDIA DRIVE AGX Thor. The solution combines local AI inference with PATEO’s AI Agent platform to support multilingual interaction, understand cabin context and coordinate vehicle functions.

At Auto China 2026 in Beijing, PATEO announced joint development of the solution with ByteDance and a leading new energy vehicle automaker. PATEO has also secured a project nomination for a new-generation vehicle from a leading new energy vehicle automaker, with mass production for that program expected in the second quarter of 2027.

In-vehicle local inference with Nemotron and Doubao

PATEO has integrated NVIDIA Nemotron 3.5 ASR for speech recognition into its in-vehicle model suite. In collaboration with ByteDance, PATEO has also integrated Doubao, a 35-billion-parameter mixture-of-experts language model. The suite includes text-to-speech synthesis and a 2-billion-parameter language model for semantic classification and request rejection.

The integrated suite can run inference locally without a cloud connection, supporting multilingual voice interaction and real-time streaming speech recognition. This enables core AI functions to remain available when connectivity is limited, while connected services and cloud updates extend the system’s capabilities.

The PATEO AI Agent platform combines voice, visual and sensor inputs to interpret user requests and cabin conditions. Within vehicle safety permissions, it can invoke cabin controls and online services, coordinate concurrent tasks and manage longer-running requests. With user authorization, it can remember preferences and habits to personalize future interactions.

AI Box Brings Proactive Intelligence to the Cockpit

PATEO’s AI Box supports practical scenarios throughout the driving experience. Sentinel AI can identify and issue alerts for risks such as parking violations, flooding and fire. On hot commutes, occupants can independently adjust driver and passenger climate settings through voice commands or gestures. During extended highway driving, the AI agent can detect driver fatigue and ask whether the driver would like to open a window or activate seat massage. In areas with poor air quality, it can suggest closing windows and switching to recirculation based on location and learned driving habits.

Built on NVIDIA DRIVE AGX Thor, the AI Box connects perception, reasoning, execution and learning. Sustaining these experiences requires memory bandwidth alongside peak compute measured in TOPS. As context accumulates across conversation turns and agent actions during a trip, the model’s key-value (KV) cache grows, increasing demands on memory capacity and bandwidth. Thor’s accelerated compute and high memory bandwidth help support responsive local inference. Within automotive safety permissions, the AI Box coordinates cockpit controls, connected services and concurrent or longer-running tasks. With user authorization, it remembers preferences and habits, while cloud updates help refine its capabilities.

The AI Box’s modular software architecture and integration with in-vehicle systems and NVIDIA’s edge and cloud AI ecosystem support model deployment, tuning and customization across vehicle programs. By adding dedicated AI computing capacity without replacing the original main control chip, it also offers an upgrade path for existing vehicles whose processors cannot support larger models, concurrent multimodal interactions and proactive agents through software updates alone.

Expanding Beyond Hardware with Tokenomics and Physical AI

PATEO is building on the AI Box to expand from one-time hardware delivery into ongoing AI services and operations. Its in-vehicle Tokenomics strategy aims to create recurring revenue around the deployment and use of AI capabilities, extending the business opportunity beyond the initial hardware sale.

In June 2026, PATEO formed partnerships with Mininglamp Technology, Xunce Technology and Saimo Technology to jointly develop a token-based physical AI world model and TokenOS. The collaboration brings together on-device hardware, simulation testing, data infrastructure, creating a foundation for delivering and operating AI services.

Built on NVIDIA DRIVE AGX Thor, the AI Box provides a reusable platform that PATEO can adapt to different automakers and vehicle programs. The company is also extending its expertise in intelligent interaction and hardware engineering into robotics. PATEO reports a project nomination from a leading domestic robotics computing provider, opening an opportunity to apply its platform capabilities to physical AI applications beyond vehicles.

As on-device models and AI agents move toward broader automotive deployment, PATEO is combining NVIDIA accelerated computing with its cockpit software and hardware expertise to support that transition. Its focus on reusable technology, deployment across vehicle programs and ongoing AI services supports its evolution from a smart cockpit supplier into an AI platform company, with opportunities for growth across automotive and broader physical AI markets.

 

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