Indicate by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F:
Exhibit 99.1 of this Report on Form 6-K is incorporated by
reference into the registration statement on Form F-10 (File No. 333-294179) of the registrant, as amended, and the registration statement on Form S-8 (File No. 333-294301) of the registrant, as amended.
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Exhibit 99.1
FORM 51-102F3
MATERIAL CHANGE REPORT
| Item 1. | Name and Address of Company |
MDA Space Ltd. (“MDA Space” or the “Company”)
7500 Financial Drive
Brampton, ON
L6Y 6K7
| Item 2. | Date of Material Change |
March 10, 2026, March 11, 2026
and March 16, 2026
Attached
as Schedule “A” are copies of the press releases relating to the material change, which were disseminated on March 10,
2026, March 11, 2026 and March 16, 2026, through the newswire services of Canada Newswire and filed on SEDAR+ at www.sedarplus.ca.
| Item 4. | Summary of Material Change |
On March 10, 2026, MDA Space announced
the launch of a marketed public offering of the Company’s common shares (“Common Shares”) in the United States
and Canada (the “Offering”), representing the Company’s initial public offering in the United States.
In connection with the initial public
offering in the United States, MDA Space filed an application to list the Common Shares on the New York Stock Exchange (the “NYSE”)
under the symbol “MDA”. Trading of the Common Shares commenced on the NYSE on March 12, 2026. The Common Shares will
continue to trade on the Toronto Stock Exchange under the symbol “MDA”.
On March 11, 2026, MDA Space
announced the pricing of the Offering. The underwriters in the Offering (the “Underwriters”) agreed to purchase
9,836,065 Common Shares from the Company in the Offering at a price to public of US$30.50 per share for aggregate gross proceeds to
the Company of US$299,999,982.50.
The Company also granted the
Underwriters an over-allotment option (the “Over- Allotment Option”), exercisable for a period of 30 days from
the date of the underwriting agreement for the Offering, to purchase up to 1,475,409 additional Common Shares, representing 15% of
the total number of Common Shares to be sold pursuant to the Offering.
J.P. Morgan
and RBC Capital Markets acted as joint lead active bookrunners (together, the “Representatives”), and BMO Capital
Markets, Deutsche Bank Securities, Jefferies, Scotiabank, and Canaccord Genuity acted as joint active bookrunners.
MDA Space intends to use the net proceeds
of the Offering to pursue its growth strategies, including expanding its customer base and solutions, supporting the growth
of existing customers, and pursuing other strategic opportunities, which may include acquisitions or investments. MDA Space may also use
a portion of the net proceeds of the Offering for general corporate purposes, including the repayment of a portion of amounts outstanding
under the Company’s existing credit facilities.
In connection with the Offering, on March 10,
2026, MDA Space filed a preliminary prospectus supplement (the “Preliminary Supplement”) to its short form base shelf
prospectus dated August 7, 2025 (the “Shelf Prospectus”) with the securities regulatory authorities in each of
the provinces and territories of Canada. The Preliminary Supplement and the Shelf Prospectus were also filed with the U.S. Securities
and Exchange Commission (the “SEC”) as part of a registration statement on Form F-10 (as amended by Amendment
No. 1 thereto, the “Registration Statement”) under the U.S.-Canada multijurisdictional disclosure system (MJDS).
The Company subsequently filed a final prospectus supplement dated March 11, 2026 (the “Final Supplement”, and
together with the Shelf Prospectus, the “Supplemented Prospectus”) to the Shelf Prospectus in respect of the Offering
with the securities regulatory authorities in each of the provinces and territories of Canada and with the SEC.
The Offering
was made in Canada only by means of the Supplemented Prospectus and in the United States by means of the Registration Statement. Copies
of the Supplemented Prospectus and the underwriting agreement dated March 11, 2026 between MDA Space and the Representatives (the
“Underwriting Agreement”) can be found on SEDAR+ at www.sedarplus.ca and a copy of the Registration Statement,
the Supplemented Prospectus and the Underwriting Agreement can be found on EDGAR at www.sec.gov.
On March 16,
2026, MDA Space announced the closing of the Offering pursuant to which a total of 9,836,065 Common Shares were sold, for aggregate gross
proceeds to the Company of US$299,999,982.50.
| Item 5. | Full Description of Material Change |
For a full description of the material
change, please see the press releases dated March 10, 2026, March 11, 2026 and March 16, 2026, attached hereto as Schedule
“A”.
| Item 6. | Reliance on Subsection 7.1(2) of National Instrument 51-102 |
Not applicable.
| Item 7. | Omitted Information |
Not applicable.
The name and business telephone number
of the officer of the Company who can answer questions regarding this material change report is as follows:
David Snarch
Vice President, General Counsel and Corporate Secretary
Tel: (905) 790-2800
March 17, 2026
SCHEDULE “A”
(see attached)

NEWS RELEASE
MDA SPACE ANNOUNCES
INITIAL PUBLIC OFFERING IN THE UNITED STATES
March 10,
2026 (TORONTO, ON) – MDA Space Ltd. (“MDA Space” or the “Company”) (TSX:MDA) announced
today that it has launched a marketed public offering (the “Offering”) of common shares of MDA Space (the “Common
Shares”) in the United States and Canada, representing the Company’s initial public offering in the United States.
In connection with
the initial public offering in the United States, MDA Space has filed an application to list its Common Shares on the New York Stock
Exchange (the “NYSE”) under the symbol “MDA”. Trading of the Common Shares is expected to commence on
the NYSE following pricing of the Offering and will continue on the Toronto Stock Exchange (the “TSX”) under the symbol
“MDA”.
A total of US$300
million of Common Shares will be offered by MDA Space for sale in the Offering, which will be conducted through a syndicate of underwriters
led by J.P. Morgan and RBC Capital Markets, who are acting as joint lead active bookrunners, and BMO Capital Markets, Deutsche Bank Securities,
Jefferies, Scotiabank, and Canaccord Genuity, who are acting as joint active bookrunners. The Offering will be priced in the context
of the market, with the price per share (the “Offering Price”) to be determined at the time of entering into an underwriting
agreement for the Offering (the “Underwriting Agreement”).
MDA Space will
also grant the underwriters an over-allotment option, exercisable for a period of 30 days from the date of the Underwriting Agreement,
to purchase up to an additional 15% of the number of Common Shares to be sold pursuant to the Offering.
MDA Space intends
to use the net proceeds of the Offering to allow the Company to pursue its growth strategies, including expanding its customer base and
solutions, supporting the growth of existing customers, and pursuing other strategic opportunities, which may include acquisitions or
investments. MDA Space may also use a portion of the net proceeds of the Offering for general corporate purposes, including the repayment
of a portion of amounts outstanding under the Company’s existing credit facilities.
Closing of the
Offering will be subject to customary conditions, including the entering into of the Underwriting Agreement, the listing of the Common
Shares on the NYSE and the TSX, and any required approvals of the NYSE and the TSX.
In connection with
the Offering, MDA Space filed a preliminary prospectus supplement to its base shelf prospectus filed on August 7, 2025 with the
securities regulatory authorities in each of the provinces and territories of Canada. The preliminary prospectus supplement and a base
shelf prospectus have also been filed with the U.S. Securities and Exchange Commission (the “SEC”) as part of a registration
statement on Form F-10 under the U.S.-Canada multijurisdictional disclosure system relating to the Common Shares which has been
filed with the SEC but has not yet become effective.

The Offering will
be made in Canada only by means of the base shelf prospectus and the preliminary prospectus supplement and in the United States only
by means of the registration statement, including the base shelf prospectus and the preliminary prospectus supplement. In the United
States, the Common Shares may not be sold nor may offers to buy be accepted prior to the time that the registration statement becomes
effective. The base shelf prospectus, the preliminary prospectus supplement and the registration statement contain important information
about the Offering and prospective investors should read such documents, as well as the documents incorporated by reference therein,
for more complete information about the Company and the Offering before making an investment decision. Copies of the base shelf prospectus
and the preliminary prospectus supplement can be found on SEDAR+ at www.sedarplus.ca, and a copy of the registration statement
can be found on EDGAR at www.sec.gov. An electronic or paper copy of the final prospectus supplement, the corresponding base shelf
prospectus and any amendment to the documents may be obtained, without charge, from J.P. Morgan Securities LLC, c/o Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by email at prospectus-eq_fi@jpmchase.com and postsalemanualrequests@broadridge.com;
or RBC Capital Markets LLC, Attention: Equity Syndicate, 200 Vesey Street, 8th Floor, New York, NY 10281, by phone at 1-877-822-4089,
or via email at equityprospectus@rbccm.com. by providing the contact with an email address or address, as applicable.
No securities regulatory
authority has either approved or disapproved the contents of this press release. This press release shall not constitute an offer to
sell or the solicitation of an offer to buy nor shall there be any sale of the Common Shares in any province, state or jurisdiction in
which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any
such province, state or jurisdiction.
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 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.

Forward-Looking Statements
Certain statements
contained in this news release are forward-looking statements and are provided for the purpose of presenting information about management's
current expectations and plans relating to the future. Readers are cautioned that such statements may not be appropriate for other purposes.
These forward-looking statements include statements regarding: the conduct of the Offering, the intended listing of the Common Shares
on the NYSE and the TSX, obtaining required approvals from the NYSE and the TSX, the granting of the over-allotment option to
the underwriters, and the intended use of proceeds of the Offering. In some cases, forward-looking statements can be identified by such
terms as “will”, “would”, “anticipate”, “anticipated”, “expect” and “expected”.
The forward-looking statements in this news release are based on certain assumptions, including assumptions regarding general economic
and political conditions, the Company’s future growth initiatives, and the Company’s ability to complete the Offering. Such
statements are subject to significant known and unknown risks, uncertainties and other factors that may cause actual results or events
to differ materially from those expressed or implied by such statements and, accordingly, should not be read as guarantees of future
performance or results and will not necessarily be accurate indications of whether or not such results will be achieved. Such risks include
the risk that the Offering will not be completed, as well as those risks described in the base shelf prospectus filed on August 7,
2025 and the preliminary prospectus supplement, available on SEDAR+ at www.sedarplus.ca, including the documents incorporated
by reference therein (including the risks and uncertainties detailed under the “Risk Factors” section of the Company’s
annual information form dated March 4, 2026), and the registration statement, available on EDGAR at www.sec.gov, which risks
may be dependent on market factors and not entirely within the Company's control. Although management believes that it has a reasonable
basis for the expectations reflected in these forward-looking statements, actual results may differ from those suggested by the forward-looking
statements for various reasons. These forward-looking statements reflect current expectations of the Company as at the date of this news
release and speak only as at 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.
MEDIA CONTACT
Amy MacLeod
Vice President, Corporate Communications
613-796-6937
amy.macleod@mda.space
INVESTOR CONTACT
Jim Floros
Vice President, Investor Relations
289-914-0209
jim.floros@mda.space

NEWS RELEASE
MDA SPACE ANNOUNCES
PRICING OF INITIAL PUBLIC OFFERING IN THE UNITED STATES
The base shelf
prospectus is accessible, and the final prospectus supplement for this offering will be accessible within two business days, through
SEDAR+
March 11, 2026
(TORONTO, ON) – MDA Space Ltd. (“MDA Space” or the “Company”) (TSX:MDA) today announced
the pricing of its previously announced marketed public offering (the “Offering”) of common shares of MDA Space (the
“Common Shares”) in the United States and Canada. The underwriters have agreed to purchase 9,836,065 Common
Shares from the Company in the Offering at a price of US$30.50 per share (the “Offering Price”), for aggregate
gross proceeds to the Company of approximately US$300 million.
In connection with
the initial public offering in the United States, MDA Space has been approved to list its Common Shares on the New York Stock Exchange
(the “NYSE”) under the symbol “MDA”. Trading of the Common Shares is expected to commence on the NYSE
on March 12, 2026 and will continue on the Toronto Stock Exchange (the “TSX”) under the symbol “MDA”.
The Offering is expected to close on or about March 16, 2026, subject to customary closing conditions, including receipt of all necessary
approvals of the TSX and the NYSE.
The Offering
is being conducted through a syndicate of underwriters led by J.P. Morgan and RBC Capital Markets, who are acting as joint lead
active bookrunners, and BMO Capital Markets, Deutsche Bank Securities, Jefferies, Scotiabank, and Canaccord Genuity, who are acting
as joint active bookrunners.
MDA Space has also
granted the underwriters an over-allotment option, exercisable for a period of 30 days from the date of the underwriting agreement for
the Offering, to purchase up to an aggregate of 1,475,409 additional Common Shares at a price per share equal to the Offering
Price, representing 15% of the number of Common Shares to be sold pursuant to the Offering.
MDA Space intends
to use the net proceeds of the Offering to allow the Company to pursue its growth strategies, including expanding its customer base and
solutions, supporting the growth of existing customers, and pursuing other strategic opportunities, which may include acquisitions or
investments. MDA Space may also use a portion of the net proceeds of the Offering for general corporate purposes, including the repayment
of a portion of amounts outstanding under the Company’s existing credit facilities.
In connection with
the Offering, MDA Space has filed a preliminary prospectus supplement to its base shelf prospectus filed on August 7, 2025, and
will file a final prospectus supplement to its base shelf prospectus, with the securities regulatory authorities in each of the provinces
and territories of Canada. The preliminary prospectus supplement and a base shelf prospectus have also been filed, and the final prospectus
supplement will also be filed, with the U.S. Securities and Exchange Commission as part of a registration statement on Form F-10
under the U.S.-Canada multijurisdictional disclosure system. Access to the final prospectus supplement, the corresponding base shelf
prospectus and any amendment to the documents is provided in accordance with securities legislation relating to procedures for providing
access to a shelf prospectus supplement, a base shelf prospectus and any amendment. The base shelf prospectus is accessible, and the
final prospectus supplement will be accessible within two business days from the date hereof, through SEDAR+ at www.sedarplus.ca.

The Offering is
being made in Canada only by means of the base shelf prospectus and the applicable prospectus supplement and in the United States only
by means of the registration statement, including the base shelf prospectus and the applicable prospectus supplement. Such documents
contain important information about the Offering and prospective investors should read such documents, as well as the documents incorporated
by reference therein, for more complete information about the Company and the Offering before making an investment decision. Copies of
the base shelf prospectus and the preliminary prospectus supplement can be found on SEDAR+ at www.sedarplus.ca, and a copy of
the registration statement can be found on EDGAR at www.sec.gov. Copies of the final prospectus supplement will be accessible within
two business days of the date hereof on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov. An electronic or paper
copy of the final prospectus supplement, the corresponding base shelf prospectus and any amendment to the documents may be obtained,
without charge, from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by
email at prospectus-eq_fi@jpmchase.com and postsalemanualrequests@broadridge.com; or RBC Capital Markets LLC, Attention:
Equity Syndicate, 200 Vesey Street, 8th Floor, New York, NY 10281, by phone at 1-877-822-4089, or via email at equityprospectus@rbccm.com.
by providing the contact with an email address or address, as applicable.
No securities regulatory
authority has either approved or disapproved the contents of this press release. This press release shall not constitute an offer to
sell or the solicitation of an offer to buy nor shall there be any sale of the Common Shares in any province, state or jurisdiction in
which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any
such province, state or jurisdiction.
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 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.

Forward-Looking Statements
Certain statements
contained in this news release are forward-looking statements and are provided for the purpose of presenting information about management's
current expectations and plans relating to the future. Readers are cautioned that such statements may not be appropriate for other purposes.
These forward-looking statements include statements regarding: the conduct of the Offering, the intended listing of the Common Shares
on the NYSE and the TSX, the intended use of proceeds of the Offering, and the filing of the final prospectus supplement and amended
registration statement. In some cases, forward-looking statements can be identified by such terms as “will”, “would”,
“anticipate”, “anticipated”, “expect” and “expected”. The forward-looking statements
in this news release are based on certain assumptions, including assumptions regarding general economic and political conditions, the
Company’s future growth initiatives, and the Company’s ability to complete the Offering. Such statements are subject to significant
known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those expressed
or implied by such statements and, accordingly, should not be read as guarantees of future performance or results and will not necessarily
be accurate indications of whether or not such results will be achieved. Such risks include the risk that the Offering will not be completed,
as well as those risks described in the base shelf prospectus filed on August 7, 2025 and the preliminary prospectus supplement,
available on SEDAR+ at www.sedarplus.ca, including the documents incorporated by reference therein (including the risks and uncertainties
detailed under the “Risk Factors” section of the Company’s annual information form dated March 4, 2026), and the
registration statement, available on EDGAR at www.sec.gov, which risks may be dependent on market factors and not entirely within
the Company's control. Although management believes that it has a reasonable basis for the expectations reflected in these forward-looking
statements, actual results may differ from those suggested by the forward-looking statements for various reasons. These forward-looking
statements reflect current expectations of the Company as at the date of this news release and speak only as at 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.
MEDIA CONTACT
Amy MacLeod
Vice President, Corporate Communications
613-796-6937
amy.macleod@mda.space
INVESTOR CONTACT
Jim Floros
Vice President, Investor Relations
289-914-0209
jim.floros@mda.space
NEWS RELEASE
MDA SPACE ANNOUNCES
CLOSING OF INITIAL PUBLIC OFFERING IN THE UNITED STATES
March
16, 2026 (TORONTO, ON) – MDA Space Ltd. (“MDA Space” or the “Company”) (TSX:MDA; NYSE:MDA)
today announced the closing of its previously announced marketed public offering (the “Offering”) of common shares
of MDA Space (the “Common Shares”) in the United States and Canada, representing the Company’s initial public
offering in the United States and the listing of its Common Shares on the New York Stock Exchange. A total of 9,836,065 Common Shares
were issued and sold at a price of US$30.50 per share (the “Offering Price”) for gross proceeds to the Company of
approximately US$300 million.
The Offering was conducted through a syndicate
of underwriters led by J.P. Morgan and RBC Capital Markets, as joint lead active bookrunners, and BMO Capital Markets, Deutsche Bank
Securities, Jefferies, Scotiabank, and Canaccord Genuity, as joint active bookrunners.
MDA Space intends to use the net proceeds of
the Offering to allow the Company to pursue its growth strategies, including expanding its customer base and solutions, supporting the
growth of existing customers, and pursuing other strategic opportunities, which may include acquisitions or investments. MDA Space may
also use a portion of the net proceeds of the Offering for general corporate purposes, including the repayment of a portion of amounts
outstanding under the Company’s existing credit facilities.
No securities regulatory authority has either
approved or disapproved the contents of this press release. This press release shall not constitute an offer to sell or the solicitation
of an offer to buy nor shall there be any sale of the Common Shares in any province, state or jurisdiction in which such offer, solicitation
or sale would be unlawful prior to the registration or qualification under the securities laws of any such province, state or jurisdiction.
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.

Forward-Looking Statements
Certain statements contained in this news release
are forward-looking statements and are provided for the purpose of presenting information about management's current expectations and
plans relating to the future. Readers are cautioned that such statements may not be appropriate for other purposes. These forward-looking
statements include statements regarding the intended use of proceeds of the Offering. In some cases, forward-looking statements can be
identified by such terms as “will”, “would”, “anticipate”, “anticipated”, “expect”
and “expected”. The forward-looking statements in this news release are based on certain assumptions, including assumptions
regarding general economic and political conditions and the Company’s future growth initiatives. Such statements are subject to
significant known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from
those expressed or implied by such statements and, accordingly, should not be read as guarantees of future performance or results and
will not necessarily be accurate indications of whether or not such results will be achieved. Such risks include those risks described
in the base shelf prospectus filed on August 7, 2025, the final prospectus supplement filed in connection with the Offering, available
on SEDAR+ at www.sedarplus.ca, including the documents incorporated by reference therein (including the risks and uncertainties detailed
under the “Risk Factors” section of the Company’s annual information form dated March 4, 2026), and the registration
statement, available on EDGAR at www.sec.gov, which risks may be dependent on market factors and not entirely within the Company's
control. Although management believes that it has a reasonable basis for the expectations reflected in these forward-looking statements,
actual results may differ from those suggested by the forward-looking statements for various reasons. These forward-looking statements
reflect current expectations of the Company as at the date of this news release and speak only as at 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.
MEDIA CONTACT
Amy MacLeod
Vice President, Corporate Communications
613-796-6937
amy.macleod@mda.space
INVESTOR CONTACT
Jim Floros
Vice President, Investor Relations
289-914-0209
jim.floros@mda.space