Cygnus Metals Ltd — Proxy Solicitation & Information Statement 2026

Mar 30, 2026

MDA

Notice of Annual General Meeting of Shareholders to be Held on May 7, 2026

NOTICE IS HEREBY GIVEN that an annual general meeting (the "Meeting") of the shareholders of MDA Space Ltd. ("MDA Space" or the "Company") will be held virtually via live audio webcast at https://virtual-meetings.tsxtrust.com/1893 on May 7, 2026 at 11:00 am (Toronto time), for the following purposes, as more particularly described in the accompanying management information circular (the "Circular"):

1. to receive and consider the financial statements for the fiscal year ended December 31, 2025 ("Fiscal 2025") and the auditor's report thereon;
2. to elect the directors of MDA Space for the ensuing year;
3. to appoint an auditor for the ensuing year and to authorize the directors to fix the auditor's remuneration;
4. to consider and, if deemed advisable, approve a non-binding advisory resolution on MDA Space's approach to executive compensation disclosed herein; and
5. to transact such further and other business as may properly be brought before the Meeting or any adjournment thereof.

The nature of the business to be transacted at the Meeting is described in further detail in the Circular. The Circular is deemed to form part of this notice of meeting. Please read the Circular carefully before you vote on the matters being transacted at the Meeting.

Holders of common shares registered on the books of MDA Space at the close of business on March 27, 2026 (the "Record Date") are entitled to notice of, and to vote at, the Meeting.

The Company is using "notice-and-access" to deliver meeting materials, including the Circular and the form of proxy or the voting instruction form, as applicable. This means that instead of receiving paper copies of the meeting materials, shareholders will be able to access and review the meeting materials electronically. You will also find below information on how to request paper copies of these meeting materials if you prefer. Management believes that the principal benefit of using the notice-and-access system is that it is more environmentally friendly and cost-effective because it reduces paper use and the cost of printing and mailing the meeting materials to shareholders. The Company will send to shareholders of record as of the Record Date a notice (the "N&A Notice") that the meeting materials have been posted and containing instructions on how to access the meeting materials.

Electronic copies of the meeting materials can be viewed online under the Company's SEDAR+ profile at www.sedarplus.ca or at https://docs.tsxtrust.com/2463.

If you have any questions regarding notice-and-access, please call the Company's transfer agent, TSX Trust Company ("TSX Trust") at 1-866-600-5869 or email tsxtis@tmx.com.

Upon request, we will provide a paper copy of the meeting materials to any shareholder, free of charge, for a period of one year from the date the Circular is filed on SEDAR+. Requests may be made by contacting MDA Space at investor.relations@mda.space. In order to receive a paper copy in time to vote before the Meeting, your request should be received by April 28, 2026. The N&A Notice will also provide instructions on how to receive a paper copy of the meeting materials by mail.

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A registered shareholder may attend the Meeting himself, herself or itself, or may be represented by proxy. Registered shareholders who are unable to attend the Meeting or any adjournment thereof are requested to date, sign and return the accompanying form of proxy for use at the Meeting or any adjournment thereof.

The Meeting will be held in a virtual-only format, which will be conducted via live audio webcast over the Internet. Registered shareholders and duly appointed proxyholders will be entitled to attend, participate and vote at the Meeting from any location. Non-registered shareholders who have not duly appointed themselves as proxyholders may also virtually attend as guests. Guests will be able to virtually attend and listen to the Meeting but will not be able to vote or ask questions at the Meeting. To be valid, the enclosed proxy must be deposited with MDA Space's transfer agent, TSX Trust at 301-100 Adelaide Street West, Toronto, ON M5H 4H1 not later than 11:00 am (Toronto time) on May 5, 2026 (or at least 48 hours, excluding Saturdays, Sundays and statutory holidays in the Province of Ontario, Canada, prior to the time set for the Meeting or any adjournment(s) or postponement(s) thereof). Alternatively, shareholders may, and are encouraged to, vote their proxies online at http://www.voteproxyonline.com/ or by fax to 416-595-9593 before such deadline.

A summary of the information shareholders will need to attend, participate and vote at our Meeting is provided in the Circular under "Voting Information".

Non-registered beneficial shareholders, whose shares are registered in the name of a broker, securities dealer, bank, trust company or similar entity (an "Intermediary"), should carefully follow the voting instructions provided by their Intermediary.

DATED this 30th day of March, 2026.

BY ORDER OF THE BOARD OF DIRECTORS

(signed) "Brendan Paddick"

Brendan Paddick

Chair of the Board