🧾 What This Document Is

This is a 6-K filing, a report used by foreign companies listed in the U.S. to inform the SEC about major events. It includes the Notice of Annual General Meeting and the Management Information Circular for MDA Space’s shareholder meeting on May 7, 2026.
👉 Think of it as a detailed agenda and guidebook for shareholders, explaining what will be voted on and why it matters.

🏢 What The Company Does

MDA Space is a global leader in space technology, robotics, and satellite systems.
👉 In simple terms, they build satellites, provide Earth observation data, and create advanced robotics for space and defense. They operate in three main areas:

Satellite Systems (like communication satellites)
Robotics & Space Operations (e.g., the Canadarm on the International Space Station)
GeoIntelligence (satellite imagery and data)

Why it matters: They’re a key player in the growing commercial space industry, with contracts from governments and companies worldwide.

📊 Financial Highlights (2025 Performance)

The circular includes a review of MDA’s strong 2025 results:

Revenue: $1.6 billion, up 51.2% from 2024.
Adjusted EBITDA: $323.6 million, up 49.1% (this is a measure of operating profit).
Backlog: $4.0 billion in future contracted work (down 8.5% from 2024, but still very healthy).

👉 Why it matters: These numbers show rapid growth and strong profitability, reflecting successful execution of their strategy.

🚀 Key Operational Milestones in 2025

MDA landed several major contracts and made strategic moves:

US$750 million contract with Globalstar to build over 50 next-gen satellites (their MDA AURORA™ model).
Acquired SatixFy, a leader in satellite communication chipsets.
$60 million in contracts for sensor systems on Canada’s River-class Destroyer warships.
$44.7 million contract to support Canada’s RADARSAT satellite replenishment.
Strategic partnership with the Canadian government and Telesat for military satellite communications.
Took over operations of the David Florida Laboratory, a key Canadian spacecraft testing facility.

👉 Why it matters: These moves solidify MDA’s position in both commercial and defense space markets, driving future growth.

🗳️ What’s Being Voted On at the Meeting

Shareholders will decide on four main items:

Election of 7 directors (see bios below).
Appointment of KPMG LLP as the company’s auditor.
Advisory vote on executive compensation (“Say-on-Pay”).
Review of 2025 financial statements (no vote required).

The meeting is virtual:

Date: May 7, 2026, at 11:00 AM (Toronto time).
Access: https://virtual-meetings.tsxtrust.com/1893
Record date: March 27, 2026 (you must own shares by this date to vote).
Voting deadline: Proxies must be submitted by May 5, 2026, at 11:00 AM.

👥 Board of Director Nominees (7 People)

The board has 7 nominees, 6 of whom are independent (no material ties to MDA). Key highlights:

Brendan Paddick (Chair) – Entrepreneur, former telecom CEO.
Michael Greenley (CEO) – Not independent, 30+ years in defense/space.
Yaprak Baltacıoğlu – Former Canadian Treasury Board Secretary.
Jill Smith – Former CEO of satellite company DigitalGlobe.
Others: Darren Farber, Karl Smith, Yung Wu – All bring finance, governance, or tech expertise.

Why it matters: The board has deep experience in space, government, finance, and tech, guiding MDA’s strategy.

📜 Corporate Governance & Policies

MDA emphasizes strong governance:

Majority voting policy: Directors must get more than 50% shareholder support.
Share ownership guidelines: Directors and executives must own shares to align with shareholders.
Committees: All board committees are 100% independent (Audit, Compensation, Nominating).
Key policies: Code of ethics, anti-corruption, whistleblower protection.

👉 Why it matters: Good governance reduces risk and aligns management with shareholder interests.

🔮 What’s Next: Strategic Outlook

MDA is positioned for continued growth:

Expanding manufacturing in Montreal to meet demand.
Benefiting from rising defense spending on space capabilities.
Growing backlog from commercial and government contracts.
Focus on innovation: New satellite tech (AURORA™), robotics, and AI.

👉 Why it matters: The company is investing heavily to capitalize on the expanding space economy.

⚖️ Big Picture: Strengths & Risks

👍 Strengths:

Strong revenue growth and profitability.
Diverse contract base (commercial + government).
Leadership in key space technologies.

⚠️ Risks:

Reliance on government contracts (budget changes could affect demand).
Competitive pressure in the satellite market.
Execution risks on large projects.

🧠 The Analogy

Think of MDA Space as the “Swiss Army knife” of the space industry. Just like a multi-tool has a blade, screwdriver, and scissors, MDA offers satellites, robotics, and Earth imaging—all essential tools for customers exploring the final frontier. The company is growing fast because everyone from telecom companies to national governments needs these tools to build, connect, and protect in space.

📇 Key Contacts & People

Investor Relations:

Email: [email protected]

Transfer Agent (for voting help):

TSX Trust Company
Phone: 1-866-600-5869 (toll-free) | 416-342-1091 (outside North America)
Email: [email protected]

Company Leadership:

Brendan Paddick, Chair of the Board
Michael Greenley, Chief Executive Officer

🧩 Final Takeaway

MDA Space is having a strong 2025 with massive contract wins and growth. The 2026 shareholder meeting will focus on re-electing an experienced board, approving auditors, and voting on executive pay. With a solid backlog and key roles in both commercial and defense space, MDA is well-positioned for the future—but watch for competition and government spending trends.

MDA Space Ltd. — 6-K Filing