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Reference is made to the stock exchange release published earlier today, January 26, 2026, concerning the employee and manager share purchase programs and matching share allocations. For the matching share allocations, shares were sold at a price per share of NOK 32.9908 which equals the volume-weighted average share price of Aker Solutions on Euronext Oslo Børs from and including January 19, 2026, to and including January 23, 2026. 

Under the matching share allocation, a total of 7,655 shares were allocated to Idar Eikrem, Chief Financial Officer. Following the allocation, Eikrem, together with related parties, hold 399,380 shares in Aker Solutions. 

Under the matching share allocation, a total of 15,741 shares were allocated to Kjetel Digre, Chief Executive Officer. Following the allocation, Digre holds 238,960 shares in Aker Solutions. 

Under the matching share allocation, a total of 4,679 shares were allocated to Geir Glømmi, Executive Vice President, Fixed Facility Alliance Projects. Following the allocation, Glømmi holds 25,501 shares in Aker Solutions. 

Under the matching share allocation, a total of 1,775 shares were allocated to Kjetil Kristiansen, Executive Vice President, People and Transformation. Following the allocation, Kristiansen holds 15,892 shares in Aker Solutions. 

Under the matching share allocation, a total of 1,775 shares were allocated to Hilde Karlsen, employee elected director. Following the allocation, Karlsen, together with related parties, hold 35,671 shares in Aker Solutions. 

Under the matching share allocation, a total of 5,406 shares were allocated to Olav Høidalen, Senior Vice President, Group Controlling. Following the allocation, Høidalen holds 37,681 shares in Aker Solutions. 

Under the matching share allocation, a total of 1,775 shares were allocated to Thomas Halleraker, deputy employee elected director. Following the allocation, Halleraker holds 6,035 shares in Aker Solutions.  

Please see the attached notification for persons discharging managerial responsibilities in Aker Solutions in accordance with Regulation EU 596/2014 (MAR) article 19.  

Strategic partnership aims to advance next-generation satellite solutions for Korea’s national defence infrastructure

BRAMPTON, ON and GUMI-SI, GYUNGSANGBUK-DO, Republic of Korea, Jan. 26, 2026 /PRNewswire/ – MDA Space (TSX: MDA), a trusted mission partner to the rapidly expanding global space industry, today announced the signing of a Memorandum of Understanding (MOU) with Hanwha Systems Co., Ltd. (“Hanwha”), a global leader in smart technologies and aerospace solutions. Through this MOU, MDA Space and Hanwha will explore opportunities to collaborate on the development of Korea’s sovereign Low Earth Orbit (K-LEO) defence constellation, leveraging MDA’s AURORA™ software-defined digital satellites.

The K-LEO constellation is a flagship national initiative designed to strengthen Korea’s sovereign defence capabilities and ensure secure, resilient communications and data services for national security operations. MDA Space and Hanwha will work together to assess how MDA AURORA’s flexible, software-defined architecture can support Hanwha in addressing evolving mission requirements, maximizing operational efficiency, and enabling robust, scalable satellite solutions for the K-LEO defence program.

“We are honoured to partner with Hanwha in support of Korea’s sovereign K-LEO defence constellation,” said Mike Greenley, CEO of MDA Space. “This collaboration highlights the global confidence in MDA AURORA’s secure dual-use software-defined satellite technology to deliver mission-critical flexibility, performance, and resilience for national defence networks. Together with Hanwha, we look forward to advancing Korea’s defence infrastructure and enabling a new era of secure connectivity.”

“This MOU marks an important first step in exploring collaboration with a global partner to advance Korea’s defence space capabilities,” said Jae-il Son, CEO of Hanwha Systems. “We will continue to assess next-generation satellite solutions capable of addressing evolving operational requirements.”

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking information within the meaning of applicable securities legislation, which reflects the company’s current expectations regarding future events. Such forward-looking information includes, but is not limited to, the scope of any actual collaboration between MDA Space and Hanwha on the eventual development of a K-LEO constellation.

Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the company’s control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to, the factors discussed under “Risk Factors” in the company’s Annual Information Form available on SEDAR+ at www.sedarplus.com. MDA Space does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

ABOUT MDA SPACE
Building the space between proven and possible, MDA Space Ltd. (TSX:MDA) is a trusted mission partner to the global space industry. A robotics, satellite systems and geointelligence pioneer with a 55-year+ story of world firsts and more than 450 missions, MDA Space is a global leader in communications satellites, Earth and space observation, and space exploration and infrastructure. The global MDA Space team of more than 3,800 space experts has the knowledge and know-how to turn an audacious customer vision into an achievable mission – bringing to bear a one-of-a-kind mix of experience, engineering excellence and wide-eyed wonder that’s been in our DNA since day one. For those who dream big and push boundaries on the ground and in the stars to change the world for the better, we’ll take you there. For more information, visit www.mda.space.

ABOUT HANWHA SYSTEMS Hanwha Systems is a leading South Korean defence and ICT company specializing in advanced radar, command and control, satellite, and defence electronics solutions. Leveraging strong systems integration capabilities and cutting-edge technologies, the company supports national security and global defence programs across land, sea, air, cyber, and space domains.

SOURCE MDA Space

For more than a decade, China’s Belt and Road Initiative has framed how development, infrastructure investment and geopolitical influence are discussed. Responses – from the European Union’s Global Gateway to Japan’s ‘quality infrastructure’ agenda – have largely followed the same logic: mobilise alternative financing, co-finance through multilateral banks and mitigate risk for private capital.

What has been almost entirely missed is a more powerful alternative – one that does not rely on exporting capital at all. China’s appeal lies not only in the scale of its financing, but in the concreteness of its offer: visible assets, execution and speed. Yet this debt-led model carries well-known risks, including rising public liabilities, opaque contracts, imported labour and long-term dependency.

The irony is that advanced economies already possess a development model that avoids these pitfalls, but have failed to articulate it as a strategic proposition. That model is balance-sheet-led development.

From financing to balance sheets

Balance-sheet-led development starts from a simple observation: in most countries, public commercial assets – land, infrastructure, utilities, real estate and state-owned enterprises – constitute the largest asset class in the economy, often exceeding annual gross domestic product. Yet development strategies, fiscal frameworks and geopolitical debates continue to focus almost exclusively on liabilities.

Rather than financing development through new borrowing, a balance-sheet approach seeks to improve public net worth by strengthening governance, transparency and professional management of public assets. Investment is financed through value creation rather than leverage, attracting private capital without increasing public debt.

In practice, this approach reduces reliance on external borrowing, mobilises domestic labour and firms, builds institutional and managerial capacity, and strengthens long-term fiscal resilience. It is development through balance-sheet empowerment, not debt accumulation.

Why this matters geopolitically

Seen through a geopolitical lens, the contrast with Belt and Road is stark. Debt-led models export capital and frequently import labour, firms and standards, creating dependencies that persist beyond project completion. Balance-sheet-led models, by contrast, finance investment through domestic assets and institutions, reinforcing economic sovereignty.

Put simply: China exports capital; the West could export capacity. This is not an argument against infrastructure investment, nor against engagement with China. It is an argument that western and Japanese strategies have been framed too narrowly around finance, rather than around sovereignty-enhancing development.

Japan and the missed opportunity

Japan is a particularly revealing case. It possesses deep expertise in infrastructure, logistics, utilities, urban development and public accounting, as well as strong credibility across much of the global South. Yet its engagement has remained largely framed around financing, co-financing and risk mitigation – positioning Japan as an alternative lender rather than as a partner enabling countries to finance their own development.

The same pattern is evident across Europe and North America. Development is still discussed in terms of aid volumes, lending capacity and risk-sharing mechanisms, rather than balance-sheet mobilisation. As a result, western offers often appear abstract, while Belt and Road appears tangible – even when its long-term costs are high.

From projects to portfolios

A balance-sheet perspective also changes how development is organised. Rather than focusing on individual projects, it treats public assets as portfolios requiring professional governance, clear mandates and transparent reporting. This aligns public finance with capital markets logic, rather than political cycles.

Importantly, this approach does not require new institutions or large funding commitments. It requires a shift in framing: from projects to portfolios, from lending to governance and from external finance to domestic capacity.

Elements of this thinking are beginning to surface in technical fiscal discussions, including International Monetary Fund work on net worth-based fiscal anchors. Yet they remain largely absent from geopolitical and strategic debates about influence and development.

A different development logic

For many countries in the global South, the attraction of Belt and Road is not ideological, but practical. Balance-sheet-led development offers an equally practical alternative – one that builds institutions rather than bypasses them, and sovereignty rather than dependency.

The West already has the tools, what it has lacked is the frame. If the contest around development is understood not as a race to lend, but as a choice between development logics, balance-sheet sovereignty offers a compelling alternative to debt-led influence – and one that advanced economies are uniquely placed to support.

Dag Detter is Principal of Detter & Co.

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