#1AMDA Investor Presentation November 2023#2IMDA Forward-Looking Statements and Non-IFRS Financial Measures Forward-Looking Statements This presentation contains "forward-looking information" within the meaning of applicable Canadian securities laws. Such forward-looking information includes, but is not limited to, information with respect to MDA Ltd.'s ("MDA" or the "Company") 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. The Company has based the forward-looking information on its current expectations and projections about future events and financial trends that it believes might affect its financial condition, results of operations, business strategy and financial needs. Statements containing forward- looking information are based on certain assumptions and analyses 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. These assumptions include our ability to maintain and expand the scope of our business; our ability to execute on our growth strategies; assumptions relating to government support and funding levels for space programs and missions; continued and accelerated growth in the global space economy; the impact of competition; our ability to retain key personnel; our ability to obtain and maintain existing financing on acceptable terms; changes and trends in our industry or the global economy; currency exchange and interest rates; and changes in laws, rules, regulations. 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 information. Given these risks, uncertainties and assumptions, readers should not place undue reliance on the forward-looking information. Whether actual results, performance or achievements will conform to the Company's expectations and predictions is subject to a number of known and unknown risks, uncertainties, assumptions and other factors, including those described in the Company's latest Annual Information Form (AIF) and listed under the heading "Risk Factors", which factors should not be considered exhaustive. If any of these risks or uncertainties materialize, or if assumptions underlying the forward-looking information prove incorrect, actual results might vary materially from those anticipated in the forward- looking information. Although the Company bases the forward-looking information on assumptions that it believes are reasonable when made, the Company cautions investors that statements containing forward-looking information are not guarantees of future performance and that its actual results of operations, financial condition and liquidity and the development of the industry in which it operates may differ materially from those made in or suggested by the forward-looking information contained in this presentation. Given these risks and uncertainties, investors are cautioned not to place undue reliance on the forward-looking information. Any forward-looking information that is made in this presentation speaks only as of the date of such statement, and the Company undertakes no obligation to update any forward-looking information or to publicly announce the results of any revisions to any of those statements to reflect future events or developments, except as required by applicable securities laws. Non-IFRS Financial Measures This presentation refers to certain non-IFRS measures. These measures are not recognized measures under IFRS, do not have a standardized meaning prescribed by IFRS and therefore may not be comparable to similar measures presented by other companies. Rather, these measures are provided as additional information to complement those IFRS measures by providing further understanding of our results of operations from management's perspective. We use non-IFRS measures, including Adjusted EBITDA, Adjusted EBITDA Margin, and Order Bookings to provide investors with supplemental measures of our operating performance and thus highlight trends in our core business that may not otherwise be apparent when relying solely on IFRS measures. We also believe that securities analysts, investors, and other interested parties frequently use non-IFRS measures in the evaluation of issuers. Additional details for these non-IFRS measures, including a reconciliation of such measures to the most directly comparable IFRS measures, can be found in our most recently issued MD&A which is posted on www.mda.space and filed on SEDAR+. 2#3We Develop Advanced Space Technologies that Enable Mission Firsts Three generations of RADARSAT satellites operating since 1995 MDA robotics on world's first autonomous on-orbit servicing mission $300 MDA satellite antennas, payloads and electronics have flown on more than 300 space flight missions MDA space robotics were carried on 100 Space Shuttle missions MDA sensors have been operational on 8 Cygnus missions MDA space robotics and communications on ISS since 2001 MDA sensors and robotics have been operational on Mars since 2008 AMDA MDA technologies on 3 LEO Constellations MDA sensor scanned Asteroid Bennu 300 million km away 3#4MDA Overview 50+ year History of Space Innovation 2,900+ Workforce Globally 500,000+ sq. ft. of Design, Manufacturing & Testing Facilities 3 Business Areas - Geointelligence, Robotics & Space Operations, Satellite Systems ~25% YoY Revenue Growth Expected in 2023 ($790M - $810M Revenue Target) (1) ~$1.5B Market Capitalization (2) TSX Listed under Ticker MDA 1) Targets are based on Company's current expectations and are subject to significant risks and assumptions (see "Forward Looking Information") 2) Market capitalization as of November 7, 2023 IMDA " 4#5MDA Serves Nearly Every Sector of the Expanding Space Economy The Space Ecosystem Where MDA Plays IMDA Space Robotics On-orbit Servicing & Exploration and Rovers Assembly nada AMDA Robotics & Space Operations Satellites and Sub-systems Antennas, Electronics, Payloads LEO Constellations Earth Observation Missions Ground Stations Geospatial Analytics Launch AMDA Satellite Systems 29% of Revenues (1) 45% of Revenues (1) 1) Revenue composition based on last twelve month financials as of September 30, 2023 MDA Geointelligence 26% of Revenues (1) LO 5#6We are Well Positioned to Serve the Growing Space Market Value of Global Space Market (1) In US$ Billions Space Market by Customer Type (2022) (1) In US$ Billions 737 424 74% (~6.3% CAGR) Non- contracted 40 Gov. civil 31 2016 2017 2018 2019 2020 2021 1) Euroconsult, Space Economy Report 2022; 2) Excluding ground segment and user terminals 2022 2023 2024 2025 Global Space Market Projected to Grow 74% by 2031 2026 2027 2028 2029 2030 2031 IMDA Space Market by Vertical (2022) (1) In US$ Billions Manufacturing 29 Launch services 10 Space Eco 464 Space market 424 Ground segment 5 Defense 31 Commercial 362 Satellite Operators Services Providers (2) கர் இருவி 16 364 CO 6#7Positive Secular Trends Driving End Market Demand ©Apple LOWER LAUNCH COSTS AND NEW TECHNOLOGIES DRIVING MARKET OPPORTUNITY Lower launch costs and new technologies are driving commercialization of space and have improved the economic feasibility of many space-based activities and services; launching a spacecraft today is 10x cheaper versus a decade ago SPACE IS ENABLING GLOBAL CONNECTIVITY Insatiable appetite for universal connectivity and data usage to be met with new and enhanced capacity from satellite constellations (LEO and MEO) which offer among others broadband internet, IoT (Internet of Things) and 5G communications NEW SPACE RACE DRIVING RENEWED INTEREST IN SPACE EXPLORATION Renewed government interest in lunar and deep space exploration; new missions projected to increase by ~220% to 750 missions over the next decade (1) with private sector playing a key role SPACE IS CRITICAL TO NATIONAL SECURITY Space is becoming increasingly critical to national security with governments around the world increasing funding and creating independent space commands to reinforce national security and sovereignty priorities INNOVATIVE SATELLITE APPLICATIONS GAINING MOMENTUM Satellite direct-to-device applications are gaining momentum including direct-to-cell services which address gaps in terrestrial coverage and bring connectivity to unserved or underserved populations; service demand to be met via new and enhanced satellite capacity 1) Euroconsult, Prospects for Space Exploration, 4th Edition IMDA 7#8MDA Customers and Partners Span the Space Economy, with a Balanced Mix across Customer Type and Geography planet. INTUITIVE MACHINES YORK SPACE SYSTEMS IMDA LTM Revenue by Customer Type (1) AIRBUS Astroscale Orbital Insight NAŠA OMMואר BLUE ORIGIN SPACE unseenlabs -THE BRIGHT SIGHT THALES HawkEye 360 OneWeb DARPA EMSA European Maritime Safety Agency BOEING 03b TELESAT Networks *:. iridium® MAXAR TECHNOLOGIES UK SPACE AGENCY exactEarth sne SIERRA NEVADA CORPORATION eesa ICEYE CSA ASC LOCKHEED MARTIN A Globalstar 1) Revenue composition based on last twelve month financials as of September 30, 2023 Commercial Government 58% 42% LTM Revenue by Geography (1) Europe 7% Rest of World 4% Canada 48% United States 42% 8#9- Our Financial Scorecard – Strong Backlog, Growing Revenues and Differentiated Profitability Backlog Revenue IMDA $563M ~57% CAGR $864M 2020 2021 $1378M 2022 $3069M -25% CAGR $789M $641M $412M $477M Q3-2023 2020 2021 Adjusted EBITDA (ex. non-recurring items) (1,2) -29% CAGR Net Income 2022 Q3-2023 LTM $172M $141M $112M $85M Margin Margin 23.5% Margin 22.0% Margin 21.8% 20.7% 2020 2021 Q3-2023 LTM 1) Non-IFRS measure 2022 -$36M 2020 $44M $26M $3M 2021 2022 Q3-2023 LTM 9 2) Non-recurring items comprised of historical Investment Tax Credit (ITC) settlement income recognized in 2022 and Canada Emergency Wage Subsidy (CEWS) income in 2020/2021#10IMDA Our Agility and Scale Enable Us to Deliver What Matters Most to Customers What Matters to Customers Confidence in Mission Success Customized & Innovative Solutions Commercial R&D Investment Speed to Market Cost Efficient Solutions Expertise in Complex Missions Proven and Optimized Supply Chain New Space Companies AMDA Large Prime Contractors 10#11We Operate World Class Facilities Gatineau Ground Station Dreamr Lab Brampton Task Area IMDA Montreal Integration Area Montreal Compact Range Montreal One Web Manufacturing 11#12Large Pipeline and Disciplined Execution Support Strong Revenue Growth IMDA MDA Revenue Progression In Millions 2023E 2022 $790 - $810 (1) 2021 O $641 2020 $412 $477 $17B+ 5-Year Cumulative Pipeline (Excl. Secured Programs) $10B+ Satellite Systems Annual Average Pipeline: ~$2B $4B+ Geointelligence Annual Average Pipeline: ~$800M 1) Targets based on Company's current expectations and are subject to significant risks and assumptions (see "Forward Looking Information") Future Growth Drivers Secured Programs Follow-On Opportunities Grow Constellation Market Share Maximize Robotics & Space Mission Participation International Expansion and Strategic M&A $3B+ Robotics & Space Ops Annual Average Pipeline: ~$600M 12#132023 Targets Reflect Solid Momentum and Good Visibility $412M 2020 Revenue $477M 2021 $641M 2022 $790-$810M 2023E ~98% of expected 2023 revenues currently in backlog 1) Non-IFRS measure providing high visibility Adjusted EBITDA (ex. non-recurring) (1,2) $141M $112M $85M Adj. EBITDA Margin 20.7% Adj. EBITDA Margin 23.5% 2020 2021 IMDA $165-$170M Adj. EBITDA Margin 22.0% Adj. EBITDA Margin -20%-21% 2022 2023E Solid and stable adjusted EBITDA margin driven by strong program execution and disciplined cost control 2) Non-recurring items comprised of Canada Emergency Wage Subsidy (CEWS) income received in 2020/2021 and historical Investment Tax Credit (ITC) settlement income recognized in 2022 13#1429% MDA Business: Robotics & Space Operations Mission Kits and Partnerships for On-Orbit Ops Rapid Growth of the In-Space Economy Space Exploration Space Tourism Space Mining Lunar Mobility Logistics and Support The Technologies We Deliver Sensors On-Orbit. Cameras. LiDAR. Lunar Landings IMDA Robotics Operational Support. Industry Standard for Grapple Fixtures On-Orbit Servicing, Assembly, and Manufacturing On-Orbit Servicing and Assembly Integrated Robotic Solutions. Vision and Targeting Systems Rovers Planetary Vehicle Systems. Sample Return Debris Removal Operations Support for Robotics on the ISS. Operations Control Centers Unique Technology. Proven Flight Heritage. Full Mission Life Cycle Capabilities 14#1529% The Leader in Space Robotics Solutions Our Market Leadership World's First 3D Scan of an Asteroid From Orbiting Spacecraft OSIRIS-Rex Our Notable Program IMDA Over 3 Million Engineering Hours Supporting On-Orbit Robotic Operations Canadarm2/ Dextre World's First Autonomous On-Orbit Servicing Mission Orbital Express Canadarm3 Design, Build, and Servicing Canas.4B of Potential Revenue over 20 Years (-$900M from 2022-2026) Over 12 Years Operating on Mars Phoenix Lander, Curiosity Rover, and ExoMars underway World's First Commercial Robotics Operations Control Center Under development 15#1645% MDA Business: Satellite Systems World Leaders in Digital Satellite Solutions Capitalizing on Proliferation of Satellites Broadband Internet 5G Backhaul Mobile Communications IoT Connected Vehicles Defence Applications The Technologies We Deliver IMDA LEO Constellations Cutting Edge Technology. Subsystem Manufacturing. Al&T GEO Satellites Payloads. Antennas. Electronics. Range of Digital Products MEO and Additional Applications Exploration Sub-systems. Antennas. Electronics. Payloads Independent Merchant Supplier. High Volume Production. Competitive Pricing and Scheduling. Proven Expertise 16#1745% Cutting Edge Satellite Capabilities Our Market Leadership Our Notable Programs IMDA High Volume Manufacturing for LEO Constellations Significant Expertise Through O3B, Iridium Next, and OneWeb Constellations Globalstar LEO Constellation Design, Manufacture, Assembly and Test of 17 Satellites ~$415M Revenue over 2022-2024 (Opportunity for Additional LEO Satellites) Over 300 Satellite Missions Solutions across full communication frequency band Proven Software Defined Radio Capability for Space-based Communication Power and Propulsion Element for Lunar Gateway Telesat Lightspeed LEO Constellation Design, Manufacture, Assembly and Test of 198 Satellites ~$2.1B Revenue for 198 satellites (Opportunity for Additional LEO Satellites) 17#1826% MDA Business: Geointelligence Towards a Global Earth Information Platform Address Growing Demand for Earth Intelligence and Analytics The Technologies We Deliver Climate Change Monitoring IMDA " Agricultural Production Optimization Sense EO Satellites. UAVS. Maritime. Space Surveillance Collect and Inform Ground Stations: Tasking, Data Processing, Storage. Illegal Fishing Detection Intelligence and Surveillance Analyze Search and Rescue Commerce and Trade Analytics Products. Intelligence Support End User Operations Software Platforms for Subscription Services. Near Real-Time, Actionable Information. Global. Cutting Edge and Fully Integrated EO Solution 18#1926% Differentiated Geointelligence Offerings Our Market Leadership World's Most Sophisticated and Taskable SAR Satellite One of the Largest Radar Information Providers Globally Our Notable Programs IMDA World's Largest Multi-Sensor Ground Station Network 70 Ground Stations, 25 Countries. 20 Source Satellites CHORUS Next Generation EO Mission $2B+ Potential Revenue over 15 Years Extensive Data Archive ~90B km² of the Earth Imagery Data Near Real-Time Information Products Under 10 Minutes from Satellite to Customer Extensive Expertise in Government Geointelligence Programs RADARSAT, RADARSAT-2, RADARSAT Constellation Mission, UAV programs Canadian Surface Combatant Design and Integration of Electronic Warfare System ~$1.5B Potential Revenue from 2020 to 2040 (Across 15 State-of-the-Art Warships) 19#20Summary IM Pure-play Exposure to the Growing Space Market Global space economy projected to reach US$1.5 trillion by 2040 (1) up from billion in 2022 (2) US$464 Established Industry Leader with a Proven Track Record and Strong Competitive Position More than 50 years of innovation in space Strong customer relationships with government agencies and commercial companies Cutting-edge technologies and solutions including robotics, satellite systems and earth observation offerings Rich portfolio of patents and industry know- how Long-tenured and experienced technical team Attractive Fundamentals for Long-term Value Creation Growing backlog, strong profitability and healthy balance sheet 1) U.S. Chamber of Commerce; 2) Euroconsult 20#21AMDA We'll Take You There