Parsons Awarded $21 Million U.S. Army Corps of Engineers Contract For Munitions Response Geophysics

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CHANTILLY, VA., (December 11, 2023) – Parsons Corporation (NYSE: PSN) announced today an award on the Camp San Luis Obispo (CSLO) Munitions Response Site (MRS) 05 by the United States Army Corps of Engineers (USACE) Los Angeles District. The company will serve as a subcontractor to the prime contractor PIKA-Insight joint venture (JV) LLC, conducting advanced geophysical classification (AGC) data collection and analysis in support of the contract. This five-year, $21 million ceiling-value contract is new work for the company.

“Parsons is a world leader in munitions response geophysics, and through our advanced geophysical classification solutions, we’re delivering a safer and cleaner world,” said Jon Moretta, president, Engineered Systems for Parsons. “We’re proud to partner with PIKA-Insight JV and leverage our capabilities in support of USACE efforts to protect human health and the environment through remediation of Formerly Used Defense Sites.”

The USACE Los Angeles District provides civil works and military engineering support to Southern California, Nevada, Arizona, and parts of Utah. CSLO was used for infantry division training during World War II and signal corps training during the Korean Conflict before it was relinquished by the U.S. Army. USACE Los Angeles maintains responsibilities for CSLO MRS 05 as the site is part of the Formerly Used Defense Sites (FUDS) Program and requires environmental remediation, including removal of munitions, explosives of concern, and munitions constituents.

PIKA-Insight JV will implement environmental and munitions related remediation work through a small business multiple award task order contract. As a key team member, Parsons will leverage its industry leading AGC capabilities and deep domain expertise to collect and analyze data vital to the remedial action necessary to ensure public safety and address the Army’s long-term liabilities at MRS 05.

Parsons has decades of experience successfully performing munitions response projects and collecting and interpreting data from all major digital geophysical mapping and AGC sensors. In 2017, Parsons became the first firm to achieve Department of Defense Advanced Geophysical Classification accreditation to perform AGC.

To learn more about Parsons’ geophysics expertise and munitions remediation capabilities, visit Parsons.com/ground-work/.

About Parsons:

Parsons (NYSE: PSN) is a leading disruptive technology provider in the national security and global infrastructure markets, with capabilities across cyber and intelligence, space and missile defense, transportation, environmental remediation, urban development, and critical infrastructure. Please visit parsons.com and follow us on LinkedIn and Facebook to learn how we’re making an impact.

Forward-Looking Statements:

This document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are based on our current expectations, beliefs and assumptions, and are not guarantees of future performance. Forward-looking statements are inherently subject to uncertainties, risks, changes in circumstances, trends and factors that are difficult to predict, many of which are outside of our control. Accordingly, actual performance, results and events may vary materially from those indicated in the forward-looking statements, and you should not rely on the forward-looking statements as predictions of future performance, results or events. Numerous factors could cause actual future performance, results and events to differ materially from those indicated in the forward-looking statements, including, among others: any issue that compromises our relationships with the U.S. federal government or its agencies or other state, local or foreign governments or agencies; any issues that damage our professional reputation; changes in governmental priorities that shift expenditures away from agencies or programs that we support; our dependence on long-term government contracts, which are subject to the government’s budgetary approval process; the size of our addressable markets and the amount of government spending on private contractors; failure by us or our employees to obtain and maintain necessary security clearances or certifications; failure to comply with numerous laws and regulations; changes in government procurement, contract or other practices or the adoption by governments of new laws, rules, regulations and programs in a manner adverse to us; the termination or nonrenewal of our government contracts, particularly our contracts with the U.S. federal government; our ability to compete effectively in the competitive bidding process and delays, contract terminations or cancellations caused by competitors’ protests of major contract awards received by us; our ability to generate revenue under certain of our contracts; any inability to attract, train or retain employees with the requisite skills, experience and security clearances; the loss of members of senior management or failure to develop new leaders; misconduct or other improper activities from our employees or subcontractors; our ability to realize the full value of our backlog and the timing of our receipt of revenue under contracts included in backlog; changes in the mix of our contracts and our ability to accurately estimate or otherwise recover expenses, time and resources for our contracts; changes in estimates used in recognizing revenue; internal system or service failures and security breaches; and inherent uncertainties and potential adverse developments in legal proceedings, including litigation, audits, reviews and investigations, which may result in materially adverse judgments, settlements or other unfavorable outcomes. These factors are not exhaustive and additional factors could adversely affect our business and financial performance. For a discussion of additional factors that could materially adversely affect our business and financial performance, see the factors included under the caption “Risk Factors” in our Registration Statement on Form S-1 and our other filings with the Securities and Exchange Commission. All forward-looking statements are based on currently available information and speak only as of the date on which they are made. We assume no obligation to update any forward-looking statement made in this presentation that becomes untrue because of subsequent events, new information or otherwise, except to the extent we are required to do so in connection with our ongoing requirements under federal securities laws.


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