Maxar Awarded Contract to Build SXM-10 Satellite for SiriusXM

Rhea-AI Summary

Maxar Technologies (NYSE:MAXR) has received an order from SiriusXM (NASDAQ:SIRI) to build the SXM-10 geostationary communications satellite. This follows the recent order for the SXM-9 satellite. The new satellite will be constructed on Maxar's proven 1300-class platform in its Palo Alto, California, facility. Maxar has a long-standing relationship with SiriusXM, having built satellites for the company for over two decades, including multiple generations of satellites.

Positive

• Secured new order for SXM-10 satellite from SiriusXM, reinforcing long-term partnership.
• Demonstrated experience in satellite manufacturing with over two decades of collaboration with SiriusXM.

Negative

• None.

WESTMINSTER, Colo.--(BUSINESS WIRE)-- Maxar Technologies (NYSE:MAXR) (TSX:MAXR) today announced it received an order to build another geostationary communications satellite for longtime customer SiriusXM, following the SXM-9 satellite order that was announced earlier this month.

SXM-10, a high-powered digital audio radio satellite, will be built on Maxar’s proven 1300-class platform at the company’s manufacturing facility in Palo Alto, California.

Maxar has been building satellites for SiriusXM for more than two decades, including the first-generation Sirius satellites launched in 2000, the second-generation Sirius satellites launched in 2009 and 2013, and the company’s third-generation satellites, the last one of which was launched earlier this year.

“Maxar has been manufacturing communications satellites for SiriusXM for decades, and we’re proud to continue this relationship for both SXM-9 and SXM-10,” said Chris Johnson, Maxar’s Senior Vice President of Space Programs Delivery.

About Maxar

Maxar is a trusted partner and innovator in Earth Intelligence and Space Infrastructure. We deliver disruptive value to government and commercial customers to help them monitor, understand and navigate our changing planet; deliver global broadband communications; and explore and advance the use of space. Our unique approach combines decades of deep mission understanding and a proven commercial and defense foundation to deploy solutions and deliver insights with unrivaled speed, scale and cost effectiveness. Maxar’s 4,400 team members in over 20 global locations are inspired to harness the potential of space to help our customers create a better world. Maxar trades on the New York Stock Exchange and Toronto Stock Exchange as MAXR. For more information, visit www.maxar.com.

About SiriusXM

Sirius XM Holdings Inc. (NASDAQ: SIRI) is the leading audio entertainment company in North America, and the premier programmer and platform for subscription and digital advertising-supported audio products. SiriusXM’s platforms collectively reach approximately 150 million listeners, the largest digital audio audience across paid and free tiers in North America, and deliver music, sports, talk, news, comedy, entertainment and podcasts. Pandora, a subsidiary of SiriusXM, is the largest ad-supported audio entertainment streaming service in the U.S. SiriusXM’s subsidiaries Stitcher, Simplecast and AdsWizz make it a leader in podcast hosting, production, distribution, analytics and monetization. The Company’s advertising sales organization, which operates as SXM Media, leverages its scale, cross-platform sales organization and ad tech capabilities to deliver results for audio creators and advertisers. SiriusXM, through Sirius XM Canada Holdings, Inc., also offers satellite radio and audio entertainment in Canada. In addition to its audio entertainment businesses, SiriusXM offers connected vehicle services to automakers. For more about SiriusXM, please go to: www.siriusxm.com.

Forward-Looking Statements

Certain statements and other information included in this release constitute "forward-looking information" or "forward-looking statements" (collectively, "forward-looking statements") under applicable securities laws. Statements including words such as "may", "will", "could", "should", "would", "plan", "potential", "intend", "anticipate", "believe", "estimate" or "expect" and other words, terms and phrases of similar meaning are often intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements involve estimates, expectations, projections, goals, forecasts, assumptions, risks and uncertainties, as well as other statements referring to or including forward-looking information included in this presentation.

Forward-looking statements are subject to various risks and uncertainties which could cause actual results to differ materially from the anticipated results or expectations expressed in this presentation. As a result, although management of the Company believes that the expectations and assumptions on which such forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. The risks that could cause actual results to differ materially from current expectations include, but are not limited to, the risk factors and other disclosures about the Company and its business included in the Company's continuous disclosure materials filed from time to time with U.S. securities and Canadian regulatory authorities, which are available online under the Company's EDGAR profile at www.sec.gov, under the Company's SEDAR profile at www.sedar.com or on the Company's website at www.maxar.com.

The forward-looking statements contained in this release are expressly qualified in their entirety by the foregoing cautionary statements. All such forward-looking statements are based upon data available as of the date of this presentation or other specified date and speak only as of such date. The Company disclaims any intention or obligation to update or revise any forward-looking statements in this presentation as a result of new information or future events, except as may be required under applicable securities legislation.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210824005196/en/

Investor Relations Contact:

Jason Gursky

Maxar VP, Investor Relations and Corporate Treasurer

1-303-684-2207

jason.gursky@maxar.com

Hooper Stevens

SiriusXM

212-901-6718

hooper.stevens@siriusxm.com

Media Contact:

Kristin Carringer

Maxar Media Relations

1-303-684-4352

kristin.carringer@maxar.com

Patrick Reilly

SiriusXM

Patrick.Reilly@siriusxm.com

Kevin Bruns

SiriusXM

Kevin.Bruns@siriusxm.com

Source: Maxar Technologies

FAQ

What recent contract has Maxar Technologies secured?

Maxar Technologies has secured a contract to build the SXM-10 geostationary communications satellite for SiriusXM.

What is the significance of the SXM-10 satellite order for Maxar Technologies?

The SXM-10 order signifies continued trust from SiriusXM and strengthens Maxar’s position in the satellite manufacturing sector.

How long has Maxar been partnering with SiriusXM?

Maxar has been partnering with SiriusXM for over two decades, building multiple generations of satellites.

What platform will the SXM-10 satellite be built on?

The SXM-10 satellite will be constructed on Maxar's proven 1300-class platform.

What stock symbols are associated with Maxar and SiriusXM?

Maxar is traded under the symbol MAXR, while SiriusXM trades under SIRI.