WESTMINSTER, CO and VANCOUVER, July 31, 2018 — (PRNewswire) —  Maxar Technologies Ltd. ("Maxar" or the "Company", formerly MacDonald, Dettwiler and Associates Ltd.), (NYSE and TSX: MAXR), a leading global provider of advanced space technology solutions for commercial and government markets, today reported financial results for the second quarter ended June 30, 2018. All dollar amounts in this press release are expressed in U.S. dollars unless otherwise noted.

Highlights from the quarter include:

• Consolidated revenues of $578.9 million
• Net loss under IFRS of $18.6 million and net loss per share of $0.33
• Adjusted EBITDA of $171.2 million and adjusted EBITDA margin of 29.6 percent
• Adjusted earnings of $69.9 million and adjusted earnings per share of $1.22

"We delivered solid results in the quarter driven by higher revenue and improved margins in our Imagery segment, and we secured a key win in our Services business that provides improved visibility on future growth.  After the quarter ended, we also announced that the company's Space Systems segment was part of a team that has been awarded a design and risk management contract for a large low earth orbit (LEO) constellation," stated Howard L. Lance, President & Chief Executive Officer. "We are reaffirming our full year 2018 guidance for revenue, cash flow from operations and our full-year adjusted EPS outlook. We remain focused on delivering solid financial results throughout the year," he added.  "Maxar is unique, at the nexus of the new space economy, with four leading commercial business brands. Our diversification strategy is working as evidenced by recent wins, we are delivering on the cost synergies from the DigitalGlobe acquisition, and we are making progress on the long-term strategic and financial objectives for growth laid out at the Company's inaugural investor days hosted in March 2018."

Consolidated revenues for the second quarter of 2018 were $578.9 million compared to $375.2 million for the same period of last year. The increase was primarily due to the inclusion of DigitalGlobe's imagery and services businesses as a result of the DigitalGlobe Transaction. Excluding intercompany eliminations, the DigitalGlobe businesses contributed $238.3 million during the three months ended June 30, 2018. Excluding the effects of intersegment eliminations, the Space Systems segment contributed revenues of $329.9 million (three months ended June 30, 2017 - $338.2 million), the Imagery segment contributed revenues of $212.0 million (three months ended June 30, 2017 - $10.9 million), the Services segment contributed revenues of $66.3 million (three months ended June 30, 2017 - $27.2 million), partially offset by intersegment eliminations of $29.3 million (three months ended June 30, 2017 - $1.1 million). Intersegment revenue, which was attributable to the Company's Legion satellite imaging constellation within our Space Systems segment, is eliminated in consolidation.

For the second quarter of 2018, adjusted EBITDA was $171.2 million and adjusted EBITDA as a percentage of consolidated revenues ("adjusted EBITDA margin percentage") was 29.6%. This is compared to adjusted EBITDA of $66.0 million and adjusted EBITDA margin percentage of 17.6% for the second quarter of 2017. These increases are primarily due to the inclusion of the financial results of DigitalGlobe's imagery business, partially offset by a decrease in the adjusted EBITDA from the Space Systems segment.

Adjusted earnings, or net earnings excluding the impact of specified items affecting comparability, were $69.9 million ($1.22 per share) for the second quarter of 2018 compared to $35.3 million ($0.97 per share) for the same period of 2017. The increase in adjusted earnings per share reflect higher adjusted EBITDA from the DigitalGlobe acquisition, partially offset by higher amortization, depreciation, and interest expense.

The comparison of financial results under IFRS between periods is impacted by the inclusion and variability of specified items that may not be indicative of the financial performance of the Company's ongoing business. After including the specified items affecting comparability, net loss for the second quarter of 2018 was $18.6 million compared to net earnings of $19.3 million in the same period of 2017.

The Company had total funded order backlog of $3.05 billion as at June 30, 2018 compared to $3.32 billion as at December 31, 2017.

The Company has declared a quarterly dividend of C$0.37 per common share payable on September 28, 2018 to shareholders of record at the close of business on September 14, 2018.

Financial Highlights

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