Canada commits to trilateral partnership: TKMS selected as the Preferred Supplier for the Canadian Patrol Submarine Project

• Team 212CD selected as Preferred Supplier for Canada's Canadian Patrol Submarine Project, potentially delivering twelve 212CD submarines, marking a new chapter in defence and industrial cooperation between Canada, Germany and Norway.
• Government-to-government framework will support the delivery of a modern submarine capability while establishing a sovereign Canadian sustainment enterprise.
• Partnership will strengthen national security, NATO interoperability and long-term industrial cooperation while generating lasting economic benefits across Canada.
• TKMS's profitable growth path will be supported by an increase of the current order backlog by more than 50%, with the first boat delivered by 2033.

OTTAWA, ON and KIEL, Germany, July 6, 2026 /CNW/ - TKMS welcomes the Government of Canada's decision to select Team 212CD as the Preferred Supplier for the Canadian Patrol Submarine Project (CPSP) potentially delivering twelve 212CD submarines. This marks a historic milestone for Canada, Germany and Norway and the beginning of a long-term strategic partnership that will strengthen security, industrial cooperation and collective defence across the North Atlantic.

The announcement marks the start of a new chapter in defence cooperation between three close NATO allies, bringing together shared expertise and common security interests. For Canada, the decision represents a significant long-term investment in maritime security and sovereign capability. For Germany and Norway, it reflects a deepening partnership with a key ally and a shared commitment to advancing transatlantic security, technological cooperation and operational interoperability. For TKMS, the potential extension of the 212CD program beyond Germany and Norway will further support the company's ongoing profitable growth path. The current order backlog will be supported by more than 50%.

"This is an important day - for Canada, Germany and Norway," said Oliver Burkhard, CEO at TKMS. "With the CPSP, we are proud to take on the largest single order in the history of TKMS – and with it comes a clear promise: we will deliver. The CPSP is more than a procurement program; it is the foundation of a long-term strategic partnership between trusted allies. Together with Canada, we are taking the next step as NATO partners – built on trust, shared values and a common commitment to defence. We stand ready to work alongside the Government of Canada, Canadian industry and our partners in Germany and Norway to deliver a world-class submarine capability that will strengthen security, create economic opportunity and generate lasting benefits for future generations. Last year our independence marked the beginning of a new era for TKMS. The CPSP is the next chapter of that journey. Canada will benefit from the full force of the current unique European program – the combined strength of Germany and Norway, united in purpose, and committed to delivering the very best and to create a new kind of transatlantic coalition."

Co-designed by an Arctic nation for the Arctic, as well as for the conditions of the North Atlantic and warm waters of the Pacific, the Type 212CD submarine is built for the North, not simply adapted to it. It is in the Arctic where Canada and its NATO allies increasingly need credible deterrence and presence.

Dr. Volkmar Dinstuhl, Chairman of the Supervisory Board at TKMS: "Canada's trust in Team 212CD is testament to TKMS's international competitiveness. This is a very important demonstration of NATO's capacity to act and the capabilities of the German and European defence industries. The fact that Canada is committing to a joint submarine capability with the 212CD together with Germany and Norway underlines the strong and trustful security and industrial cooperation between close allies. With this decision, TKMS confirms its role as a reliable strategic partner for maritime security worldwide. A good day for Canada, Germany and Norway. A good day for TKMS as a leading maritime powerhouse."

The partnership will contribute to the development of a sovereign Canadian sustainment enterprise, support workforce development and skills transfer, strengthen domestic supply chains and create opportunities for Canadian businesses to participate in a broader international defence ecosystem over time. The final proposal will generate CAD 167 billion in total economic activity across Canada, deliver over CAD 86 billion in economic impact, and over 650,000 job-years across Canada during the life of the project. Thus, the partnership will not only deepen our joint defense cooperation, but also open up a new dimension of industrial collaboration.

"Canada's decision in favour of Team 212CD is a tremendous success for TKMS – and a powerful validation of our strategy. With the spin-off of TKMS, we laid the foundation for the company to unfold its full potential as an independent champion in the international naval business. Today's announcement proves that this was the right path. We are convinced that this trilateral partnership between Canada, Germany and Norway will create lasting value – for TKMS, for our shareholders and for the transatlantic security architecture. thyssenkrupp stands firmly by TKMS's side as the company takes this important step," said Miguel López, CEO of thyssenkrupp AG.

TKMS thanks all employees and teams involved for their tireless efforts, its Canadian Partners, and the Governments of Germany and Norway for their strong support and the significant contribution they made throughout the competition. We look forward to continuing our successful partnership. As the program enters its next phase, TKMS will work closely with the Government of Canada, Germany, Norway and Canadian industry partners to advance contract negotiations, industrial planning, workforce development and implementation activities. TKMS expects to deliver the first 212CD submarine by 2033.

More information at: www.team212cd.ca

Media Advisory

Members of the media are invited to participate in a media availability following the Government of Canada's announcement regarding the Canadian Patrol Submarine Project (CPSP) final decision.

Media will have the opportunity to conduct interviews with:

• Oliver Burkhard, Chief Executive Officer, TKMS
• Dr. Volkmar Dinstuhl, Chairman of the Supervisory Board, TKMS
• Miguel López, Chief Executive Officer, thyssenkrupp AG
• Her Excellency Tjorven Bellmann, Ambassador of the Federal Republic of Germany to Canada
• Her Excellency Hanne Ulrichsen, Ambassador of the Kingdom of Norway to Canada

When: Monday, July 6, at 5:30 p.m. EST

Where: Embassy of the Federal Republic of Germany at 1 Waverley Street, Ottawa, Ontario K2P 0T8, Canada

About TKMS

TKMS is one of the world's leading naval companies with more than 9,700 employees (including temporary workers) at three shipyards in Kiel, Wismar and Itajaí (Brazil), and with locations worldwide. The company is active as a systems supplier for submarines and naval surface vessels as well as for maritime electronics and security technologies. Around 3,700 employees work at the Kiel site, making it the largest shipyard location in Germany. 185 years of history and the constant striving for improvement allow the company to set new standards time and time again. TKMS offers its customers worldwide tailored solutions to meet the highly complex challenges of a changing world. The driving forces behind this innovative energy are the company's employees, who shape the future of TKMS with passion and commitment every day.

More information at: www.tkmsgroup.com

SOURCE TKMS

Contact for media: Stefan Ettwig, Chief Communications Officer, Chief of Staff, Phone: [phone], [email protected]; Sophia Lami, Advisor - PAA Advisory, Phone: [phone], [email protected]; Jacques R. Esser, Senior Vice President Investor Relations, Investor Relations Management, Phone: [phone], [email protected]; James Gibbs, Senior Financial, Communications Manager, Phone: [phone], [email protected]