MDA Space — Regulatory Filings 2021

Apr 1, 2021

KPMG

KPMG LLP
PO Box 10426 777 Dunsmuir Street
Vancouver BC V7Y 1K3
Canada
Telephone (604) 691-3000
Fax (604) 691-3031

Alberta Securities Commission
British Columbia Securities Commission
The Manitoba Securities Commission
Financial and Consumer Services Commission, New Brunswick
Office of the Superintendent of Securities, Service Newfoundland & Labrador
Office of the Superintendent of Securities, Northwest Territories
Nova Scotia Securities Commission
Office of the Superintendent of Securities, Nunavut
Ontario Securities Commission
The Office of the Superintendent of Securities, Consumer, Corporate and Insurance
Services Division, Prince Edward Island
Autorité des marchés financiers
Financial and Consumer Affairs Authority of Saskatchewan
Office of the Yukon Superintendent of Securities

To whom it may concern:

Re: MDA Ltd. (the "Entity")

We refer to the prospectus of the Entity dated April 1, 2021 relating to the sale and issue of common shares of the Entity.

We, KPMG LLP, consent to being named and to the use, in the above-mentioned prospectus of our report dated March 22, 2021 to the shareholders of the Entity on the following financial statements:

• Consolidated statement of financial position as at December 31, 2020
• Consolidated statement of operations and comprehensive loss, changes in shareholders' equity and cash flows for the period ended December 31, 2020, and
• Notes to the consolidated financial statements, including a summary of significant accounting policies

We, KPMG LLP, also consent to the use in the prospectus of our report dated March 19, 2021 to the owner of MDA Canada on the following financial statements:

• Combined carve-out statements of financial position as at April 7, 2020, December 31, 2019 and 2018
• Combined carve-out statements of earnings, changes in net parent equity, and cashflows for the period from January 1, 2020 to April 7, 2020 and the years ended December 31, 2019 and 2018
• Notes to the combined carve-out financial statements, including a summary of significant accounting policies

© 2021 KPMG LLP, an Ontario limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved.

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KPMG

We report that we have read the prospectus and all information therein and have no reason to believe that there are any misrepresentations in the information contained therein that are derived from the consolidated financial statements and combined carve-out financial statements upon which we have reported or that are within our knowledge as a result of our audits of such consolidated financial statements and combined carve-out financial statements. We have complied with Canadian generally accepted standards for an auditor's consent to the use of a report of the auditor included in an offering document, which does not constitute an audit or review of the prospectus as these terms are described in the CPA Canada Handbook – Assurance.

Yours very truly,

KPMG LLP

Chartered Professional Accountants

April 1, 2021

Vancouver, Canada