MDA SPACE PROVIDES MARKET UPDATE

Rhea-AI Summary

MDA (TSX: MDA, NYSE: MDA) provided a market update on March 24, 2026 regarding changes to NASA's Artemis mission.

The company said its Canadarm3 contract with the Canadian Space Agency remains unchanged, the program is in design phase, and Canadarm3 can pivot to low Earth orbit, cislunar, or Lunar surface roles.

News Market Reaction – MDA

-10.39%

40 alerts

-10.39% News Effect

-14.8% Trough in 22 hr 29 min

-$452M Valuation Impact

$3.90B Market Cap

0.5x Rel. Volume

On the day this news was published, MDA declined 10.39%, reflecting a significant negative market reaction. Argus tracked a trough of -14.8% from its starting point during tracking. Our momentum scanner triggered 40 alerts that day, indicating elevated trading interest and price volatility. This price movement removed approximately $452M from the company's valuation, bringing the market cap to $3.90B at that time.

Data tracked by StockTitan Argus on the day of publication.

Market Reality Check

Price: $26.57 Vol: Volume 486,354 vs 1,041,0...

low vol

$26.57 Last Close

Volume Volume 486,354 vs 1,041,023 20-day average, indicating lighter-than-normal trading. low

Technical Price at 32.62, trading above the 200-day MA 31.8 and within 3.35% of the 52-week high 33.75.

Historical Context

3 past events · Latest: Mar 20 (Negative)

Pattern 3 events

Date	Event	Sentiment	Move	Catalyst
Mar 20	IPO over-allotment	Negative	-4.1%	Underwriters exercised over-allotment option, increasing total IPO share issuance.
Mar 18	Defense contract win	Positive	+5.6%	Won ~$32M Canadian defence contract for space surveillance observatories.
Mar 16	U.S. IPO closing	Positive	+3.5%	Closed U.S. IPO raising about US$300M for growth and debt repayment.

Pattern Detected

Recent news events (IPO-related and contract win) have generally seen price moves aligned with the news tone.

Recent Company History

Over recent weeks, MDA has focused on capital markets and contract wins. The U.S. IPO closing on Mar 16 and subsequent over‑allotment exercise raised about US$341 million in total gross proceeds, supporting growth and potential acquisitions. A separate $32 million Canadian defence contract on Mar 18 highlighted expanding government business. Today’s Artemis-related update emphasizes continuity of existing Canadarm3 contracts and flexibility across low Earth orbit and cislunar applications, fitting into this broader growth and execution narrative.

Market Pulse Summary

The stock dropped -10.4% in the session following this news. A negative reaction despite clarifying ...

Analysis

The stock dropped -10.4% in the session following this news. A negative reaction despite clarifying contract stability would fit a pattern where financing and program headlines sometimes triggered volatility. With shares trading close to the 52-week range of 29.9–33.75, shifts in sentiment around government programs or capital allocation could amplify downside. Any reversal might also reflect profit-taking after prior gains or reassessment of growth expectations tied to major space initiatives.

Key Terms

low Earth orbit, cislunar space

2 terms

low Earth orbit technical

"including in low Earth orbit, in cislunar space, and on the Lunar surface."

Low Earth orbit (LEO) is the region of space close to Earth, roughly from about 160 to 2,000 kilometers above the surface, where satellites and spacecraft circle the planet quickly—think of it as a busy highway just overhead. It matters to investors because many communications, imaging and data services rely on satellites in LEO; their shorter lifespans, lower launch costs, crowded lanes and debris risks directly affect the cost, revenue potential and operational risks of companies that build, launch or use these satellites.

cislunar space technical

"including in low Earth orbit, in cislunar space, and on the Lunar surface."

Cislunar space is the region of space between Earth and the Moon, encompassing the orbits and travel routes that link the two bodies. Think of it as the commercial highway and neighborhood between two cities: where satellites, fuel depots, transport services and potential resource sites might be located. Its development shapes new markets, infrastructure costs, traffic and security risks, all of which can affect companies’ revenues and investment returns.

AI-generated analysis. Not financial advice.

TORONTO, March 24, 2026 /PRNewswire/ - MDA Space Ltd. (TSX: MDA) (NYSE: MDA), a trusted mission partner to the rapidly expanding global space industry, today issued the following statement in response NASA's changes to the Artemis mission.

"MDA Space is monitoring NASA's ongoing discussions regarding changes to the Artemis mission as part of a renewed focus on accelerating a return to the Lunar surface. NASA has announced that it intends to pause Gateway in its current form and shift focus to infrastructure that enables sustained Lunar surface operations, and to repurpose equipment and leverage international partner commitments for use on the Lunar surface.

MDA Space management reiterates that the company's Canadarm3 program associated with the Artemis program is a contract with the Canadian Space Agency and not with NASA or the US government. There has been no change to any MDA Space contract and our work on the Canadarm3 program continues to progress. We remain fully focused on executing our existing contracts and advancing our commercial opportunities to expand further.

As a reminder, the Canadarm3 contract serves multiple markets including space agency and commercial opportunities. As a result, the Canadarm3 architecture was developed with flexibility to support multiple use cases, including in low Earth orbit, in cislunar space, and on the Lunar surface. Canadarm3 is currently in the design phase of the program providing flexibility to pivot to an alternate operating environment.

MDA Space welcomes efforts to accelerate the Artemis mission and the broad, sustained new market opportunity that a return to the Lunar surface represents for our company. We are in continuous dialogue with the Canadian Space Agency and expect that Canada will continue to contribute robotics technology to the Artemis mission."

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. Such forward-looking information includes, but is not limited to, possible market opportunities for MDA Space, Canada's future contributions to the Artemis mission and the potential for Canadarm3 to support alternate use cases. Forward-looking statements are based on certain 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, economic, political and geopolitical conditions; policies, priorities, mandates and funding levels of government entities; the termination of our customer contracts; the other 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. 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 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) 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 MDA Space team of more than 4,000 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.

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-provides-market-update-302723803.html

SOURCE MDA Space

FAQ

Does MDA (MDA) say its Canadarm3 contract was affected by NASA's March 24, 2026 Artemis changes?

No, MDA says the Canadarm3 contract with the Canadian Space Agency was not affected. According to the company, there has been no change to any MDA Space contract and work on Canadarm3 continues to progress in the design phase.

How can Canadarm3 adapt if NASA repurposes Gateway under Artemis changes announced March 24, 2026?

Canadarm3 was designed for operational flexibility across environments. According to the company, the architecture supports low Earth orbit, cislunar space, and Lunar surface use cases and can pivot to alternate operating environments during design.

What is MDA's (MDA) stance on NASA accelerating a return to the Lunar surface announced March 24, 2026?

MDA welcomes efforts to accelerate Lunar return and sees new market opportunities. According to the company, a sustained Lunar surface focus represents a broad, sustained market opportunity for its robotics and commercial offerings.

Who holds the Canadarm3 contract referenced in MDA's March 24, 2026 update and what does that mean for investors?

The Canadarm3 contract is with the Canadian Space Agency, not NASA or the US government. According to the company, this contractual structure means no direct contract change from NASA's announced Artemis adjustments.

Will MDA (MDA) continue work on Canadarm3 after NASA's Gateway pause described on March 24, 2026?

Yes, MDA states it will continue to execute existing work on Canadarm3. According to the company, the program is in the design phase and the team remains focused on executing contracts and advancing commercial opportunities.