Maxar Extends Agreements with Three International Defense and Intelligence Customers, Securing Second WorldView Legion Commitment

Rhea-AI Summary

Maxar Technologies (NYSE:MAXR) announced contract extensions exceeding $100 million with three long-standing international defense and intelligence clients. These agreements allow direct access to 30 cm-class satellite imagery through Maxar’s Direct Access Program. One contract includes a commitment for access to the upcoming WorldView Legion satellites, enhancing the company's capacity to meet national security demands and deliver AI-powered insights.

Positive

• Secured contract extensions worth over $100 million, enhancing revenue stability.
• Direct access to high-quality 30 cm-class satellite imagery strengthens customer relationships.
• Commitment to purchase next-generation WorldView Legion satellites increases capacity for future growth.

Negative

• None.

WESTMINSTER, Colo.--(BUSINESS WIRE)-- Maxar Technologies (NYSE:MAXR) (TSX:MAXR), provider of comprehensive space solutions and secure, precise, geospatial intelligence, today announced contract extensions with three long-standing international defense and intelligence customers.

The three agreements total more than $100 million and extend these customers’ ability to directly task and download 30 cm-class satellite imagery to their ground stations from Maxar’s current constellation under Maxar’s Direct Access Program. This program enables defense, intelligence and commercial customers to access the world’s most advanced Earth imaging satellites, with encrypted downlinks, committed availability and data distribution rights that fit mission needs.

One of the contracts provides a commitment to purchase direct access to Maxar’s next-generation WorldView Legion satellites, the first of which are expected to launch between May 15-June 13, 2022. This is the company’s second commitment for WorldView Legion capacity.

“Maxar’s international defense and intelligence customers continue to rely on the unrivaled quality of our imagery to meet critical national security requirements,” said Tony Frazier, Maxar EVP of Global Field Operations. “Our long-term partnerships and deep understanding of these customers’ missions informed how we designed the WorldView Legion satellites, and we are very encouraged by the demand we’re seeing. Increased collection capacity benefits not only monitoring applications, but it will also accelerate our ability to map the globe in 3D, understand precise change and deliver AI-powered insights on mission-relevant timelines.”

About Maxar

Maxar Technologies (NYSE:MAXR) (TSX:MAXR) is a provider of comprehensive space solutions and secure, precise, geospatial intelligence. 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. For more information, visit www.maxar.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/20211222005055/en/

Investor Relations Contact:

Jason Gursky

Maxar VP, Investor Relations and Corporate Treasurer

1-303-684-2207

jason.gursky@maxar.com



Media Contact:

Turner Brinton

Maxar Media Relations

1-303-684-4545

turner.brinton@maxar.com

Source: Maxar Technologies

FAQ

What is the significance of Maxar Technologies' recent contract extensions?

Maxar's contract extensions, totaling over $100 million, are significant as they solidify long-term relationships with defense and intelligence clients and ensure revenue stability.

How do the agreements with customers impact Maxar's business?

The agreements enhance Maxar's revenue through direct access to satellite imagery, allowing clients to meet critical national security needs.

What is the expected launch timeframe for Maxar's WorldView Legion satellites?

The WorldView Legion satellites are expected to launch between May 15 and June 13, 2022.

What are the benefits of the Direct Access Program for customers?

The Direct Access Program provides customers with encrypted downlinks, committed availability, and suitable data distribution rights for their missions.