Maxar March 2021 Investor Presentation

Maxar
        March 2021 Investor Presentation

© 2021 Maxar Technologies                  1

Caution concerning forward-looking statements
          This presentation and webcast, which includes a business update, discussion of the financial results as of December 31, 2020, financial outlook and
          question and answer session, contain certain “forward-looking statements” or “forward-looking information” under applicable securities laws. Forward-
          looking terms such as “may,” “will,” “could,” “should,” “would,” “plan,” “potential,” “intend,” “anticipate,” “project,” “target,” “believe,” “plan,” “outlook,”
          “estimate,” “guidance” or “expect” and other words, terms and phrases of similar nature are often intended to identify forward-looking statements,
          although not all forward-looking statements contain these identifying words.

          Forward-looking statements are based on certain key expectations and assumptions made by the Company. 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. Any such forward-looking
          statements are subject to a number of risks and uncertainties that could cause actual results and expectations to differ materially from the anticipated
          results or expectations expressed in the Earnings Information. The Company cautions readers that should certain risks or uncertainties materialize, or
          should underlying assumptions prove incorrect, actual results may vary significantly from those expected.

          The risks that could cause actual results to differ materially from current expectations include, but are not limited to those Risk Factors set forth in our
          Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, which are available online under the Company’s EDGAR profile at www.sec.gov or
          on the Company’s website at www.maxar.com, as well as the Company’s continuous disclosure materials filed from time to time with Canadian
          securities regulatory authorities, which are available online under the Company’s SEDAR profile at www.sedar.com or on the Company’s website at
          www.maxar.com. The risk factors detailed in the foregoing are not intended to be exhaustive and there may be other key risks that are not identified
          that are not presently known to the Company or that the Company currently deems immaterial. These risks and uncertainties are amplified by the
          global COVID-19 pandemic, which has caused and will continue to cause significant challenges, instability and uncertainty.

          The forward-looking statements contained in the Earnings Information 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 the Earnings Information 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 herein as a result of new
          information, future events or otherwise, other than as may be required under applicable securities law.

© 2021 Maxar Technologies                                                                 2

Key Takeaways
                    Driving top-line growth
            1
                           Expanding government and commercial businesses; aligned well with National Defense Strategy
                           Unique capabilities and franchises across Earth Intelligence and Space Infrastructure
                           Flexible and agile commercial approach to move fast in addressing customer requirements

                   Levers to expand margins and cash flow
            2
                           Re-engineering and variablizing cost structure
                           Improving mix and productization of services

            3       Moving toward a lower capital-intensive model that can drive ROIC higher
                           Smaller capital footprint across manufacturing and satellite operations
                           Lower cost WorldView Legion constellation nearing launch
                           Rapid Access, SecureWatch, G-EGD, etc.

            4       Committed to maintaining financial flexibility in order to address growth opportunities
                           Expected to have minimal growth/expansionary CapEx post WorldView Legion build
                           Focus on reducing leverage over time

© 2021 Maxar Technologies                                                                  3

Maxar is a world leading
        space technology and intelligence company.
        We unlock the promise of space to help customers
        solve problems on Earth and beyond.

© 2021 Maxar Technologies                   4

Maxar Today
                                                       Overview(1)                                                                           Global Footprint and Capabilities
                                                                                                                                            4,300 employees across 20 locations globally,
                            $2.6B / $5.1B(2) Mkt. Cap / EV                                                                             serving customers in more than 70 countries worldwide(3)

                            $1.7B 2020 Revenue
                                                                                                                                             HQ: Westminster,
                                                                                                                                                 Colorado

                            $422M 2020 Adj. EBITDA

            Leader in Earth Intelligence and Space Infrastructure

            Multifaceted capabilities across geospatial data and analytics,
             satellites, space robotics and space infrastructure
                                                                                                                                                            International Locations
            Long-standing relationships with government and commercial
                                                                                                                                       London,         Linköping,        Singapore,      Tokyo,
             customers globally                                                                                                         U.K.            Sweden           Singapore       Japan

            Strong alignment with U.S. government, international defense,
             civil government and commercial customers
                            Note: (1) Market data as of 05-Mar-2021. (2) Debt for EV purposes is calculated as the sum of the
                            outstanding amounts of the Term Loan B + 2023 Bonds + 2027 Bonds + Revolving Credit Facility Drawn
© 2021 Maxar Technologies   + Finance Leases + Liability balance related to the Space Infrastructure Sales-Leaseback transaction   5
                            consummated in December 2019. (3) As of 31-Dec-20.

Integrated Solutions Across the Customer Value Chain

                 COMPONENTS                   SUBSYSTEMS                  SYSTEMS               DATA / PRODUCTS                  SERVICES / SOLUTIONS

                                Space Infrastructure                                                         Earth Intelligence

                                                                                                                 Highest quality geospatial data & products
                        Satellite hardware                Satellite integration
                                                                                                                 Analytics platforms
                        Space robotics                    System integration
                                                                                                                 Geospatial services, analytics and solutions

                                                         MAXAR FRANCHISE PRODUCTS / CONTRACTS

         Satellites, Space Programs and Robotics                                        Imagery                  Platform and           Services
                                                                                         EnhancedView
                                                                                                                 Analytics               SBIR Phase III
          1300 class spacecraft bus            Psyche (planetary exploration)
                                                                                         Direct/Rapid Access     SecureWatch           NOME
          Modular satellite architectures      OSAM-1 (on-orbit refueling and
                                                                                         3D and AR Clouds        Global-EGD            Project Kelly
          Power & Propulsion Element            assembly)
                                                                                         Basemaps                One World Terrain     DORE
                                                Mars robotic arms

© 2021 Maxar Technologies                                                           6

What We Do:
         Data Generation, Data Analytics / Platforms and Space Infrastructure

                                                  Earth Intelligence                             60%                                             40%
                                                                                                2020 Rev.
                                                                                                                Space Infrastructure            2020 Rev.
             Data Generation                                    Data Analytics / Platforms

              Electro-optical, high-resolution                  Big data platform and tools                    Communications and Earth
               satellite imagery                                                                                  observation satellites
                                                                 Artificial Intelligence and Machine
              Sensor and ground system                           Learning (AI/ML) and data
                                                                                                                 Space exploration mission
               optimization for near real-time                    analytics at global scale
                                                                                                                  spacecraft
               geospatial insights                               Multisource data enrichment
                                                                  and analysis                                   On-orbit satellite servicing vehicles
              Mission ready geospatial
               intelligence (GEOINT)                             Geodata layers and information                 Robotics for ongoing space
                                                                  products                                        operations and planetary
              Largely recurring, multi-year                                                                      exploration
               contracts                                         Largely recurring, multi-year
                                                                  contracts
                                                                                                                 Multi-year contracts and
© 2021 Maxar Technologies                                                            7
                                                                                                                  support services

We Serve Discriminating Government and Commercial Customers
         in More Than 70 Countries
                                              Scale and Profitability(1)                                                                                                                         Government
               Segment                                                                                             Customer Mix(1)
                                             (Revenue / Adj. EBITDA(2) Margin)

                                                                                                    U.S. Federal Gov’t
                                                                                                    and Agencies

                                                                                                                             72%
       Earth
                                                 $1,081M / 47.5%
       Intelligence                                                                                                                     28%
                                                                                                                                       28%
                                                                                                                                                     Commercial
                                                                                                                                                      and Other
                                                                                                                                                                                                 Commercial
                                                                                                    U.S. Federal Gov’t
                                                                                                    and Agencies

       Space                                                                                                                 40%
                                                 $721M /            (0.4)%(3)
       Infrastructure
                                                                                                                                       60%
                                                                                                                                                     Commercial
                                                                                                                                                      and Other

       Notes: (1) Profitability and customer mix shown as of FY2020. (2) This is a non-GAAP financial measure. Refer to section “Non-GAAP Financial Measures” in the Appendix to these slides.
       (3) 2020 revenues impacted by $27M of estimated COVID-19 related EAC growth during the period. These costs are considered incremental and separable from normal operations.
© 2021 Maxar Technologies                                                                                                8

Summary of Our Growth Strategy
         Focused on Growing Segments Where We Can Be #1 or #2

                                    EARTH INTELLIGENCE                              SPACE INFRASTRUCTURE
          Addressable                   U.S. Government –
                                                                                       Commercial – National – Civil
          Segments           International Government – Commercial

                                Expand relationship across the U.S.               Grow U.S. national programs
                                 government                                        Deepen penetration of U.S. government
                                Grow installed base and penetration of             civil exposure
          Maxar’s                international government customers                Provide flexible solutions to commercial
          Growth Strategy       Grow with and expand the installed base of         customers
                                 commercial customers across product breadth,      Leverage communication expertise and volume
                                 including services                                 production heritage to capture demand in GEO
                                Leverage 3D data and 3D capabilities               and LEO

                                                                                 Space robotics
                              WorldView Legion
          Investments Made                                                       Solar electric propulsion
                              Vricon acquisition
          to Drive Growth     Data platforms + AI/ML
                                                                                 Modular architecture / Smaller spacecraft
                                                                                  buses

© 2021 Maxar Technologies                                         9

Maxar is Well-Positioned to Support the Customers We Serve

                       U.S. Government                    International Governments                        Commercial

               Largest buyer of C4ISR and space          Foreign partner nations are facing      Ubiquitous mobility and IoT are
                                                           similar mission challenges as the        driving demand for global
               National Defense Strategy outlines         U.S. government                          mapping and communications
                importance of space, AI and ML                                                      solutions
                                                          Lack the IP and human capital to
               Aggressive investment by other             rapidly modernize space and             Technology and autonomous
                nations is eroding U.S. competitive        ISR architectures                        navigation companies have
                advantage across IC and DoD                                                         global mapping aspirations that
                                                          U.S. policies for space encourage        cannot be met by traditional
               NASA is investing in Earth science         partnerships with allied nations         methods (unmanned aerial
                and space exploration                                                               vehicle and street-level
                                                          Maxar’s playbook for building            imagery)
               Buyers are embracing commercial            strong imagery and ground
                approaches to save time and                businesses can be extended into         There is a race to provide high-
                money                                      value-added services                     speed, low-latency broadband
                                                                                                    connectivity across the globe

                                                                                                   Growing popularity in gaming
                                                                                                    driving potential use cases

© 2021 Maxar Technologies                                                 10

Our Capabilities Solidly Align With the U.S. National Defense Strategy
                                                                                                              Forward Force                Autonomous
      Space & Cyber                C4ISR              Missile Defense              Joint Lethality
                                                                                                                Resilience                   Systems
  Resilient space assets       Gain and exploit            Layered                     Ability to          Ability to operate in all
                                                                                                                                          Autonomy, AI/ML
     and operations              information           missile defense                  strike                     domains

                                                               Maxar Capabilities
  Satellite design and      High-resolution        AI/ML providing           High resolution            High resolution            High resolution imagery
   manufacturing              Imagery                 change detection for       elevation models            Imagery                    Co-registered mapping
  Space robotics            AI/ML providing         early warning             Real-time Geo-             Direct downlink             data
  Space infrastructure       change detection       Affordable and secure      positioning                Crosslinks / interfaces    Space robotics
  Solar electric            Space-based sensors     satellite buses           3D Imagery                 Living maps                AI/ML providing change
   propulsion                Direct downlink        Sensor platforms          Shareable GEOINT           3D/P3DR/Point
                                                                                                                                         detection
  Cyber-secure systems      Analytics / cloud-                                Analytics / cloud-based     Cloud capabilities
                                                                                                                                        3D/P3DR/Point
  Modular architecture       based products                                     products                   AR/VR for simulation
                                                                                                                                         Cloud capabilities
                                                                                                             and training
                                                                                                                                        AR/VR for simulation
                                                                                                                                         and training

© 2021 Maxar Technologies                                                     11

Growing International Defense and Intelligence Demand

                                   Overview                 Capabilities        Real-World Results

                             Persistent global         Geospatial data and
                              security threats           products

                             Rising budgets            Machine learning and
                                                         analytics
                             Imagery and insights in
           Earth              great demand             Defense services and
       Intelligence                                     solutions
                             Space is a focus of
                              investment               Ground systems

                             Nascent but growing
                              services opportunities

© 2021 Maxar Technologies                                        12

Multifaceted Opportunities With Civil Agencies

                                   Overview                    Capabilities            Real-World Results

                             NASA science efforts        Geospatial data and
                              focused on better            products
                              understanding our planet
                                                          Machine learning and
           Earth             Other civil agencies         analytics
                              focused on emergency
       Intelligence
                              preparedness and
                              response, urban planning
                              and regulatory
                              compliance benefit from
                              Maxar's capabilities
                             NASA exploration efforts    Space robotics
                              focused on deep space
                              align well with             Solar electric propulsion
          Space               Maxar’s capabilities
                                                          Spacecraft buses
      Infrastructure

© 2021 Maxar Technologies                                                13

Commercial Demand Driven By Innovation and New Use Cases

                                  Overview                     Capabilities               Real-World Results

                             Autonomous                High-resolution imagery
                              applications              Mapping
                             Wireless network          Change detection
                              planning                  Data analytics and machine
           Earth             Resource and logistics     learning
        Intelligence          planning                  Gaming, virtual reality and 3D
                             Risk management and        applications
                              Mitigation

                             Voice and data            Satellite design
                              Communications            Satellite integration
                             Imagery                   LEO and GEO spacecraft
                             Remote sensing             buses
          Space              Video distribution        Ground systems
      Infrastructure         Broadband                 Solar electric propulsion
                             Digital radio services

© 2021 Maxar Technologies                                           14

Robust 5-Year Pipeline

                       2020                                  2021                                          Out-years
           $1.9B in Bookings                                                                                 Sustained
                                                                                                              Growth

                                                                                                              $25+
                                                                                                             Billion
                                                                                                           Five-Year Pipeline
                                                                                                              Across Earth
                                                                           Space
                                                                                                               Intelligence
                                                  WorldView Legion                      3D / Platforms /
                                      EVFO Next
                                                     Launches
                                                                       Infrastructure
                                                                                           Products             and Space
                                                                      Transformation
                                                                                                              Infrastructure

                                       Driving growth across the U.S. Government,
                              International U.S. Allied Nations and Large Commercial Tech

© 2021 Maxar Technologies                                        15

Earth Intelligence

© 2021 Maxar Technologies     16

EARTH INTELLIGENCE
            We collect, process and analyze location data to deliver geospatial intelligence.

              Data generation
               Electro-optical, high-resolution satellite imagery
                                                                                                                        60%
               Sensor and ground system optimization for near real-time geospatial insights                            of 2020 Revenue
               Mission ready geospatial intelligence (GEOINT)
              Largely recurring, multi-year contracts
              Data analytics
               Big data platform and tools
               Artificial intelligence/machine learning (AI/ML) and data analytics at scale
               Multisource data enrichment and analysis
               Geodata layers and information products
              Largely recurring, multi-year contracts

      125                            700+                        1,700+                        3.8M+                    1.4B
      Petabytes of data in our       Software developers on      Cleared personnel             Square kilometers of     Square kilometers of
      archive, gathered over         staff                       supporting the U.S.           Earth imagery capacity   Earth imagery capacity
      20 years                                                   Government                    each day                 each year

© 2021 Maxar Technologies                                                    17

Our U.S. Government Partnership:
         The EnhancedView Contract

             The U.S. government is Maxar’s largest customer for Earth
              Intelligence and our relationship has strengthened and expanded over          Sole Source
              the last decade
                                                                                            The only company delivering on the
             The EnhancedView contract was signed in 2010 and is a performance             EnhancedView Follow On program
              obligation to deliver assured and secure access to our constellation
              and platforms

             In 2018, Maxar signed a multi-year contract extension through August          20+ Years
              2023                                                                          Number of years USG has been a customer
                  • Maxar has completed 10 successful annual reviews and is
                    currently executing the 11th annual renewal option
                                                                                            13 Years
                  • Additional funding was added for further integration and
                    interoperability between the U.S. government and Maxar’s current
                                                                                            Length of EV contract – 2010 to 2023
                    and future ground and space architectures

             WorldView Legion construction is on track and can deliver industry-
              leading imagery to meet the future requirements of the U.S.
                                                                                            3.5B Square Kilometers
              government                                                                    Produced and delivered in 2020 (~24x the
                                                                                            Earth’s total landmass)
© 2021 Maxar Technologies                                                              18

On-Demand Access To Geospatial
         Intelligence
                                                               G-EGD
                                                               400,000 analysts, warfighters and first responders in
         Our platforms provide a one-stop shop for the         the U.S. Government rely on Global Enhanced
                                                               GEOINT Delivery (G-EGD) to make decisions when
         most current imagery available for defense and
                                                               lives are on the line.
         intelligence, mapping, monitoring and disaster
         response.
                                                               1,200+ 94                             184                    19.4B
                                                               Terabytes        U.S. Government      Organizations          Square kilometers
                                                               downloaded in    portals streaming    using                  streamed in 2020
                                                               2020             G-EGD                the platform

                                                               SecureWatch
                                                               241 customers and growing as international
                                                               governments and commercial organizations use
                                                               SecureWatch subscription service to provide a reliable
                                                               picture of on-ground conditions.

                                                               199                      2,600                        205M
                                                               Terabytes downloaded     Platform users               Square kilometers
         Note: Data as of 31-Dec-2020.
                                                               in 2020                                               streamed in 2020
© 2021 Maxar Technologies                                 19

We Will Extend Our Lead with WorldView Legion
         BUILT FOR CUSTOMER MISSIONS                                   SERVING OUR BUSINESS
         In sun-synchronous and mid-inclination orbits,                WorldView Legion will adapt to changing demand
         WorldView Legion will image the Earth’s most active           over time, reducing idle time and increasing
         areas around the clock and from diverse angles, giving        asset utilization. And the satellites will be more
         customers the ability to track and monitor change and         capital efficient than previous Maxar satellites.
         make faster and more informed decisions.

                 The result will be higher quality product, finely tuned to the demands of our customers,
                                            produced faster and at a lower cost.

© 2021 Maxar Technologies                                         20

21
                                                                    March 3, 2020
                                                                    Large area collection over I-580 corridor, California
                                                                         •   One satellite (WorldView-3)
                                                                         •   One of multiple strips in a single orbital pass
                                                                         •   2,707 square kilometers collected
                                                                         •   30-cm resolution from San Francisco to Tracy, California

     Ferry Building, San
     Francisco                          Bulk carrier, Oakland

                                                                             Highway exchange,
                                                                             Ulmar

                                                                Livermore airport

                                  SFO airport                                                         Tracy High School, Tracy
      © 2021 Maxar Technologies                                     21

More Area Collection, Higher
         Accuracy and Better Revisit
         Maximizes Revenue
         Opportunities
         Business continuity – drives demand for the most
          discerning customer base in the world, who requires
          high-quality resolution and positional accuracy

         Increase capacity in high demand areas – focused
          on where change is happening:
                   >50% of population lives on

The Digital Globe™ Enables New Products that Place Maxar in a
         Leadership Position in Growing Segments

                                               Precision   Change      Predictive   Targeting     Synthetic    GPS Denied
                                               Mapping     Detection   Modeling                   Training      Navigation
                                                                                                Environments

                                                            The geospatial reference standard of
                                                            our changing planet.

                                                            Maxar has a 20-year head start building the
                                                            most accurate commercial geospatial
                                                            foundation that exists.

                                                            We are integrating and snapping together
                                                            multiple sources to create a precise, living
                                                            digital twin of the planet in all dimensions.

                                                            The Digital Globe™

© 2021 Maxar Technologies                 23

AI/ML Work Better on High-Quality,
         Geo-Registered Foundation Producing
         More Accurate Insights, Faster
                                                                              ML on 60 cm imagery – identified 31 cars

         Artificial Intelligence can’t pull detail out of lower resolution
         pixels because the information simply isn’t there—similar to
         how the facial recognition algorithms on your phone can’t
         recognize you unless you’re right in front of it.

              Only Maxar has the high-resolution data to provide the
                 level of detail required for fast, reliable outputs.         ML on 50 cm imagery – identified 244 cars

                                                                             ML on 30 cm imagery – identified 1,267 cars

© 2021 Maxar Technologies                                       24

Global Leader in 3D Capabilities
         Vricon Acquisition has Expanded Maxar’s 3D Analytics Platform
         World leader in situational awareness and
         decision-making for military applications
          Battlefield visualization
          Warfare planning
          Aerial navigation and planning
          Targeting/weapon guidance
          Line-of-sight/concealment analysis
          Equipment movement/mobility planning
          Enemy surveillance
          Helicopter landing site evaluation

         Network planning for telecommunications
          RAN planning for coverage and capacity
          Fixed wireless, line-of-sight analysis
          Microwave backhaul

         Consumer gaming & virtual reality
          Geospatial and digital twin technologies
          3D modelling capabilities

© 2021 Maxar Technologies                             25

Space Infrastructure

© 2021 Maxar Technologies       26

SPACE INFRASTRUCTURE
        We design, manufacture and operate:
        
        
             Communications and Earth observation satellites
             Space exploration spacecraft                                                                               40%
            Solar electric propulsion                                                                                  of 2020 Revenue
            On-orbit satellite servicing vehicles
            Robotics for ongoing space operations and exploration
        Multi-year contracts and support services

            Our 60-year heritage of innovation and reliability in space is trusted by our customers.

            90                                          99.9971%                          285+                     2,750
            Maxar-built geostationary                   GEO satellite availability        Maxar-built spacecraft   Combined years on orbit
            satellites currently in service                                               launched

          Source: Statistics above as of 31-Dec-2020.

© 2021 Maxar Technologies                                                            27

Maxar-Built Satellites Help Shape Today’s World

         Capabilities
           Satellite design
           Satellite integration
           Spacecraft hardware, software and
            components
           LEO and GEO spacecraft buses
           Ground systems
                                                Earth observation satellites     Direct broadcast satellites     Two-way broadband satellites
           Solar electric propulsion
           Space robotics

         Differentiation
           Price, performance and quality
           Power and propulsion
           Flexible, modular spacecraft
           Mission-proven space robotics
                                                Digital audio radio satellites   Digital multimedia satellites     Meteorological satellites

© 2021 Maxar Technologies                              28

THE MOON, MARS AND BEYOND

        Maxar is ahead of the curve in space
        exploration and continues to help NASA
        make history.

          RETURNING ASTRONAUTS TO THE MOON
            As part of the Artemis program, Maxar is building the
            Power and Propulsion Element (PPE) for the lunar
            Gateway that will send the first woman to the moon.

          POWERING THE SEARCH FOR LIFE ON MARS
            Maxar built six robotic arms for Mars landers and
            rovers, including for the recently landed Perseverance
            rover.

© 2021 Maxar Technologies                                       29

POWER AND PROPULSION ELEMENT
         We are building the first key component
         of Gateway, the Power and Propulsion
         Element. Gateway will serve as an
         orbiting command module, supporting
         human missions in space.
          Provides power, thrust and critical
           communications
          Developed on Maxar's proven 1300 platform
          More powerful than existing solar
           electric propulsion systems
          Robotics for ongoing space operations and
           exploration

© 2021 Maxar Technologies                              30

MISSION TO PSYCHE                                     REFUELING AND SERVICING
         EXPLORING A NEW KIND OF ASTEROID                      SERVICING A SATELLITE ON ORBIT
         A Maxar-built spacecraft enables NASA’s               Maxar is providing the spacecraft and three
         mission to explore 16 Psyche, an asteroid             robotic arms for NASA’s OSAM-1 mission to
         believed to be made of metal. The mission             refuel and service a low-Earth orbit satellite
         could offer insight into how the Earth formed.        and demonstrate on-orbit assembly.

© 2021 Maxar Technologies                                 31

Financial Performance and Outlook

© 2021 Maxar Technologies                32

Financial Overview (1/2)
         (US$ millions)
            FY ’20 BACKLOG BY SEGMENT                                                   FY ’20 REVENUE BY SEGMENT                                                   FY ’20 ADJ. EBITDA BY SEGMENT

    Earth Intelligence                                                                  Earth Intelligence                                                         Earth Intelligence
    $880                                                                                $1,081                                                                     $513

                                  $1,904                                                                   $1,723(1)                                                                   $422(2)

                                            Space Infrastructure                                                         Space Infrastructure                                                Space Infrastructure
                                            $1,024                                                                       $721                                                                $(3)(3)

         Notes: (1) $1,723M net of $79M in intersegment eliminations. (2) $422M net of $27M in intersegment eliminations and $61M in corporate and other expenses.
         (3) 2020 revenues impacted by $27M of estimated COVID-19 related EAC growth during the period. These costs are considered incremental and separable from normal operations.

© 2021 Maxar Technologies                                                                                           33

Financial Overview (2/2)
         (US$ millions)
                                                                                                                                                                                  Revenue and Adj. EBITDA(1) Margins
                                    Revenue and Adj. EBITDA(1) Margins
                                                                                                                                                                                   Without Effects of EV Deferred(2)
               Adjusted EBITDA(1) Margin %                                                                                                                    Adjusted EBITDA(1) Margin % (Without Effects of EV Deferred(2))
                                                                                                                (3)
                                                                                                    $ 1,845                                                                                                                                        $ 1,845 (3)
                         $ 1,666                               $ 1,723
                                                                                                                                                                                                             $ 1,643
                                                                                                                                                                        $ 1,546

                            25 %                                 24 %                                 24 %                                                                                                     21 %                                  24 %
                                                                                                                                                                          19 %

                          2019A                                2020A                         2021E Guidance                                                              2019A                                2020A                         2021E Guidance

                                                  Capital Expenditures                                                                                                                      Free Cash Flow (“FCF”)(4)

                           $ 314                                $ 308
                                                                                                      $ 248(3)                                                                                                                                       $ 18 (3)

                                                                                                                                                                          $(56)
                                                                                                                                                                                                               $(65)
                          2019A                                2020A                         2021E Guidance
                                                                                                                                                                         2019A                                2020A                        2021E Guidance
         Notes: Guidance as issued on 2/24/2021 (1) Adjustments include items such as income from discontinued operations, net of tax, restructuring, transaction and integration related expense, impairment loss, including inventory, satellite insurance recovery, gain (loss) on
         sale of assets, CEO severance and gain on re-measurement of Vricon equity interest. For a reconciliation to Adj. EBITDA, please see the appendix. (2) Excludes $120M in EV deferred revenue and adjusted EBITDA for 2019 and $80M in deferred revenue and adjusted
         EBITDA for 2020. (3) Midpoint of financial outlook – 2021. (4) Free cash flow is defined as operating cash flows minus capital expenditures, excluding insurance proceeds.
© 2021 Maxar Technologies                                                                                                                  34

Financial Outlook – 2023 Adj. EBITDA
          Event                                                                                                                                                               Adj. EBITDA(1) impact
          2020 Adjusted EBITDA                                                                                                                                                       $422M

          EV Deferred Revenue                                                                                                                                                        ~(80M)

          2020 Adjusted EBITDA without effects of EV deferred                                                                                                                        ~$340M

          Earth Intelligence
               Legion capacity, including WV-4 replacement (~50%)                                                                                                                    +165M
               Product and services, in part driven by Legion capabilities (~50%)
          Space Infrastructure
               Mix shift / Run off of underperforming contracts ($43M)
                                                                                                                                                                                      +95M
               Mix shift from intercompany work(2) ($25M)
               Non-recurring COVID-19 impact ($27M)
          Corporate
                                                                                                                                                                                      (20M)
               Corporate expense

          Total Adjusted EBITDA growth                                                                                                                                               +240M

          2023 Target                                                                                                                                                                ~$580M

                                  Well positioned and driving toward significant Adjusted EBITDA(1) growth
          Notes: Guidance as issued on 2/24/2021 (1) This is a non-GAAP financial measure. Refer to section “Non-GAAP Financial Measures” in the Appendix to these
          slides. (2) Reduction of Intersegment eliminations driven by completion of WorldView Legion constellation and those earnings being replaced by third party sales.

© 2021 Maxar Technologies                                                                                                35

Financial Outlook – 2023 FCF

          Event                                                                                                                                                   FCF(1) impact

          2020 FCF                                                                                                                                                   ~($65M)

               Earth Intelligence earnings growth                                                                                                                    +165M

               Space Infrastructure earnings growth                                                                                                                   +95M

               Return to normal CapEx spend (primarily WorldView Legion)                                                                                             +180M

               Interest savings                                                                                                                                       +70M

              Timing of working capital/other                                                                                                                        (120M)

          Total FCF growth                                                                                                                                           +390M

          2023 Target                                                                                                                                                ~$325M

                                                                   Clear visibility to long-term cash flow growth

          Note: Guidance as issued on 2/24/2021 (1) Free cash flow is defined as operating cash flows minus capital expenditures, excluding insurance proceeds.

© 2021 Maxar Technologies                                                                                             36

Maxar Capitalization
         After Recent $400 Million Common Equity Offering
         (US$ millions)
          Proceeds from offering used to repay                                                                      Capitalization
           $350M of Senior Secured Notes due 2023
                                                                                                            31-Dec-20                       As Adjusted
          Reduces LTM Net Leverage to 5.1x
           (Adj. EBITDA)                                      ($ in millions)                           Amount       x Mult      Adj.    Amount       x Mult      Coupon       Maturity

         Sources            Transaction Sources   ($mm)       Cash & Cash Equivalents                      $ 27                  $(9)       $ 18

         Common Equity Issuance                     $ 400     Revolver due 2023 ($500mm)                         -                                -               L(0) + 350   Dec-23
         Cash From Balance Sheet                          9
                                                              Term Loan B                                 1,444                   -        1,444                  L(0) + 275   Oct-24

                                                              Senior Secured Notes due 2023                 850                  (350)       500                   9.750%      Dec-23

                                                              Senior Secured Notes due 2027                 150                              150                   7.540%      Dec-27
         Total                                      $ 409
                                                              Total Secured Debt                         $ 2,444         5.8 x            $ 2,094         5.0 x

         Uses                Transaction Uses     ($mm)       Net Secured Debt                            2,417          5.7               2,076          4.9

         Principal Repayment (2023 Notes)           $ 350
                                                              Other Debt Items (Incl. Finance Leases)      $ 95                             $ 95
         Equity Clawback Costs (2023 Notes)           34
                                                              Total Debt                                 $ 2,539         6.0 x            $ 2,189         5.2 x
         Estimated Transaction Fees                   25
                                                              Net Debt                                    2,512          6.0               2,171          5.1

         Total                                      $ 409     LTM Adjusted EBITDA (31-Dec-20)             $ 422                            $ 422

© 2021 Maxar Technologies                                                                    37

Evolution of Liquidity and Debt
                                                                                                                                                                     Net Debt(1) ($M)
            Liquidity:
                    As Adjusted Cash on Hand: $18M(2)                                                                                                                                                   Adjusted for Proceeds
                    Revolver: $469M available(3)                                                                            $3,114        $2,957          $3,040                                         From Recent Equity
                    As Adjusted Total: $487M                                                                                                                                                                   Offering

                                                                                                                                                                                           $2,485          $2,512
                                                                                                                                                                          $2,500(4)
            Net debt decreased by offering
                                                                                                                                                                                                                           $2,171
                    Net debt / Adj. EBITDA reduced from 6.0x
                     (at 31-Dec-2020) to 5.1x following the $400M offering

            Maturity schedule:
                    Dec 2023: Revolving Credit Facility
                    Dec 2023: $500M of Remaining 9.750% Notes
                    Oct 2024: $1.4B Term Loan B
                    Dec 2027: $150M Notes

                                                                                                                             3Q'19          4Q'19           1Q'20           2Q'20           3Q'20           4Q'20          4Q'20
                                                                                                                                                                                                                         (As Adj.)
         Notes: (1) Net Debt is calculated on the last day of the applicable period as the sum of the outstanding amounts of the Term Loan B + 2023 Bonds + 2027 Bonds + Revolving Credit Facility Drawn + Finance Leases + Liability
         balance related to the Space Infrastructure Sales-Leaseback transaction consummated in December 2019. The total debt is then netted against outstanding cash.
         (2) As adjusted cash on hand is net of existing cash used to repay outstanding Senior Secured Notes due 2023
         (3) Revolver availability equals the total capacity ($500M) – borrowings – outstanding and undrawn letters of credit.
         (4) In June 2020, Maxar entered into $150M 2027 Notes for the Vricon acquisition, which was not completed until July 1, 2020. As a result, cash on hand included $140M for the Vricon acquisition. The yellow box removes the
         impact of that additional cash for comparative purposes.

© 2021 Maxar Technologies                                                                                               38

Maxar is Positioned For Growth

                     Reset and Stabilize                        Growth Inflection                         Accelerate / Optimize
                       Successfully Completed                          Progressing                                    Longer-Term
                           (2019 – 2020)                              (2021 – 2022)                                (2023 and Beyond)

          Strategic Deals to Reduce Debt                Reduce Debt With Strong Cash                 Top-Line Growth Acceleration
             C$1B MDA divestiture                      Flow and Recent Equity Raise                   Higher imagery capacity
             $291M Palo Alto real estate transaction   Space Infrastructure                           Advanced analytics products
                                                          Position for growth by addressing           U.S. and International services
          Space Infrastructure
                                                           Commercial, Civil and DoD/Classified        Commercial, Civil, DoD/Classified space
             Re-engineer and diversify                    segments
                                                                                                     Margin Expansion
          Earth Intelligence                            Earth Intelligence                             Mix and execution
             Offset revenue and Adj. EBITDA from         Growth driven by subscriptions/products     Product/services adoption
                impact of WV4 loss
                                                          Execute backlog + new wins driven by        OpEx leverage
             Execute on growing services backlog          AI/ML                                     Lower Capital Intensity
          Deploy New Operational Model                  Launch of WorldView Legion                     Smaller manufacturing & satellite footprint
          Peak WorldView Legion CapEx                   Completion of WorldView Legion                 Further penetration of services/product
                                                                                                        offering
                                                        CapEx and Start of CapEx Holiday
                                                                                                     Optimize Capital Structure

© 2021 Maxar Technologies                                                    39

Appendix: Supplemental Information

© 2021 Maxar Technologies                40

Non-GAAP Financial Measures
         In addition to results reported in accordance with U.S. GAAP, we use certain non-GAAP financial measures as supplemental indicators of our financial and operating
         performance. These non-GAAP financial measures include EBITDA, Adjusted EBITDA, Adjusted EBITDA Without Effects of EV Deferred, and free cash flow.

         We define EBITDA as earnings before interest, taxes, depreciation and amortization, and Adjusted EBITDA as EBITDA adjusted for certain items affecting
         comparability as specified in the calculation. Certain items affecting comparability include restructuring, impairments, satellite insurance recovery, gain (loss) on sale of
         assets, CEO severance and transaction and integration related expense. Transaction and integration related expense includes costs associated with de-leveraging
         activities, acquisitions and dispositions and the integration of acquisitions. Management believes that exclusion of these items assists in providing a more complete
         understanding of our underlying results and trends, and management uses these measures along with the corresponding U.S. GAAP financial measures to manage our
         business, evaluate our performance compared to prior periods and the marketplace, and to establish operational goals. Adjusted EBITDA is a measure being used as a
         key element of our incentive compensation plan. The Syndicated Credit Facility also uses Adjusted EBITDA in the determination of our debt leverage covenant ratio.
         The definition of Adjusted EBITDA in the Syndicated Credit Facility includes a more comprehensive set of adjustments.

         We define Adjusted EBITDA Without Effects of EV Deferred as Adjusted EBITDA, as defined above, less Enhanced View Deferred Revenue.

         We define Free Cash Flow as cash provided by operating activities from continuing operations adjusted for the purchase of property, plant and equipment and
         development or purchase of software, in addition to the Satellite insurance recovery of $183M.

         We believe that these non-GAAP measures, when read in conjunction with our U.S. GAAP results, provide useful information to investors by facilitating the
         comparability of our ongoing operating results over the periods presented, the ability to identify trends in our underlying business, and the comparison of our operating
         results against analyst financial models and operating results of other public companies.

         EBITDA, Adjusted EBITDA, Adjusted EBITDA Without Effects of EV Deferred and free cash flow are not recognized terms under U.S. GAAP and may not be defined
         similarly by other companies. EBITDA, Adjusted EBITDA, Adjusted EBITDA Without Effects of EV Deferred and free cash flow should not be considered alternatives to
         net (loss) income as indications of financial performance or as alternate to cash flows from operations as measures of liquidity. EBITDA, Adjusted EBITDA, Adjusted
         EBITDA Without Effects of EV Deferred and free cash flow have limitations as an analytical tool and should not be considered in isolation or as a substitute for our
         results reported under U.S. GAAP.

© 2021 Maxar Technologies                                                                     41

Financial Outlook – 2021
   Revenue                                                                                                        2021 Outlook                                                                      Other Noteworthy Items
                                                                                                                                                                                                        ‒   Depreciation and Amortization: ~$270M
                                                                                                                                                                                                        ‒   Interest Expense: ~$160M
   Earth Intelligence                                                                                        $1,050M - $1,095M                                                                          ‒   Tax Rate:~0%, before discrete items
   Space Infrastructure                                                                                       $800M - $835M                                                                             ‒   Share Count: ~62M
   Intersegment eliminations                                                                                      (~$45M)                                                                               ‒   Bank-defined leverage ratio: < 6x

   Total Revenue                                                                                              $1,805M – 1,885M                                                                     Amortization on Finite-lived Intangibles
                                                                                                                                                                                                   In $ millions

   Adjusted EBITDA(1)                                                                                                                                                                                   2021           2022       2023         2024         2025         After

                                                                                                                                                                                                        $190           $176       $80          $65          $54          $330

   Earth Intelligence                                                                                           $440M - $470M                                                                      Amortization of acquired intangible assets is based on the period over
   Space Infrastructure                                                                                          $75M - $95M                                                                       which the Company expects to receive benefit from those assets.
                                                                                                                                                                                                   Assets are generally amortized on a straight-line basis.
   Intersegment eliminations                                                                                       (~$16M)
   Corporate and other expenses                                                                                    (~$80M)                                                                          Major Guidance Assumptions
                                                                                                                                                                                                    •   No reduction in funding of major programs
   Total Adjusted EBITDA(2)                                                                                    $420M to $470M                                                                       •   Continuation of current social distancing restrictions related to COVID-
                                                                                                                                                                                                        19 through spring 2021
                                                                                                                                                                                                    •   Financial outlook reflects the Company’s judgment based on the
   Operating Cash Flow                                                                                         $240M to $290M                                                                           information available to the Company at the time of this release,
                                                                                                                                                                                                        however, the ultimate impact of COVID-19 on the Company’s financial
                                                                                                                                                                                                        outlook for 2021 remains uncertain
                                                                                                    $205M to $230M                                                                                  •   Guidance does not include any potential impacts related to damage to
                                                                                     (excluding roughly $30M of capitalized interest)                                                                   SiriusXM’s SXM-7 satellite. Refer to subsequent event disclosure in our
   CapEx                                                                                                                                                                                                Form 10-K.
                                                                                                    $235M to $260M
                                                                                     (including roughly $30M of capitalized interest)                                                               •   Refer to the additional discussion on COVID-19 and other potential
                                                                                                                                                                                                        risks in our Form 10-K
 Notes: Guidance as issued on 2/24/2021 (1) This is a non-GAAP financial measure. Refer to section “Non-GAAP Financial Measures” in the Appendix to these slides.
 (2) We are unable to provide guidance for net income due to uncertainties relating to the size of adjustments that may be necessary as well as factors that could affect our interest, taxes, depreciation and amortization.
© 2021 Maxar Technologies                                                                                                                      42

Adjusted EBITDA Reconciliation

© 2021 Maxar Technologies                 43

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© 2021 Maxar Technologies