MDA ANNOUNCES APPOINTMENT OF YUNG WU TO BOARD OF DIRECTORS

BRAMPTON, ON, Feb. 14, 2024 /CNW/ - MDA Ltd. (TSX: MDA), a trusted space mission partner to the rapidly expanding global space industry, is pleased to announce the appointment of Yung Wu to MDA's Board of Directors, effective February 14, 2024. Serving as an independent director, Mr. Wu's appointment increases the size of the Board to nine directors, in accordance with MDA's by-laws.

Until recently, Mr. Wu was the CEO of the MaRS Discovery District, one of the world's largest innovation hubs with over 1,200 companies in various sectors and at all stages of growth and scale. Prior to MaRS, Mr. Wu had a lengthy career as a serial entrepreneur and private equity investor, building, backing and scaling companies in enterprise software, mobile analytics, big data, media and entertainment, technology services, and biotech.

"We are pleased to welcome Yung Wu to our Board of Directors," said Mr. John Risley, Chair of the MDA Board. "Yung is an experienced innovation and technology leader, entrepreneur and investor. He brings core competencies and valuable insight to the MDA Board at a time of rapid technical and market transformation in the space sector."

Mr. Wu currently serves as Chair of private equity firm NFQ Ventures, Chair of the Toronto Region Board of Trade, a Director on the OMERS Administration Corporation Board, and independent Director on the board of Antibe Therapeutics Inc.

With a focus on creating positive social and economic change through innovation and entrepreneurship, Mr. Wu is co-founder of the Coalition of Innovation Leaders Against Racism (CILAR), a network of senior leaders committed to creating pathways and opportunities in the innovation economy for the Black community, Indigenous peoples, and people of color. He also served as an inaugural Governor in Council appointee to Canada's Net-Zero Advisory Body.

Mr. Wu has a B.Sc. Computer Science, Economics and Mathematics from the University of Toronto and is a graduate of the Entrepreneurial Masters Program at the Massachusetts Institute of Technology. He is also a member of MENSA, the Young Presidents Organization (YPO) and the Institute of Corporate Directors (ICD.D) and the National Association of Corporate Directors (NACD).

ABOUT MDA

Serving the world from its Canadian home and global offices, MDA (TSX:MDA) is an international space mission partner and a robotics, satellite systems and geointelligence pioneer with a 50-year story of firsts on and above the Earth. With over 3,000 employees across Canada, the US and the UK, MDA is leading the charge towards viable Moon colonies, enhanced Earth observation, communication in a hyper-connected world, and more. With a track record of making space ambitions come true, MDA enables highly skilled people to continually push boundaries, tackle big challenges, and imagine solutions that inspire and endure to change the world for the better, on the ground and in the stars. For more information, please visit MDA's website at www.mda.space.

SOURCE MDA Space.

MEDIA CONTACT: Amy MacLeod, Vice President, Corporate Communications, 613-796-6937, [email protected]; INVESTOR CONTACT: Shereen Zahawi, Senior Director, Investor Relations, 647-401-3230, [email protected]