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Sept. 8, 2022, 2:00 p.m. EDT

Parsons Team Awarded $160 Million Contract To Support DOE And NNSA Missions

CENTREVILLE, Va., Sep 08, 2022 (GLOBE NEWSWIRE via COMTEX) -- CENTREVILLE, Va., Sept. 08, 2022 (GLOBE NEWSWIRE) -- Parsons Corporation /zigman2/quotes/212182498/composite PSN -2.00% announced today that the company has been selected to continue providing enterprise construction management services (ECMS) to the Department of Energy (DOE) and National Nuclear Security Administration (NNSA) through a $160 million ceiling-value blanket purchase agreement (BPA) contract. The BPA contains a one-year base period with four option period years and is the company's third consecutive ECMS contract supporting the organization's national defense and security missions.

"Our engineering and environmental efforts have proudly delivered for our DOE and NNSA customers for nearly 75 years," said Jon Moretta, president, engineered systems for Parsons. "We're eager to continue providing the trusted services and expertise our federal customers and their contractors rely upon to address mission-critical needs that support national security."

Services available through task orders under this contract include professional and technical offerings that support the operational needs at DOE and NNSA projects worldwide, including strategic planning for technology programs and activities; concept development and requirements analysis; system, design, engineering, and integration; testing and evaluation; integrated logistics support; acquisition and life-cycle management; and construction management and engineering consulting services.

The strategic single-source nature of this BPA provides streamlined access to program or project support services provided by the Parsons-led team, which includes Augur Consulting, Crawford Consulting Services, JGMS Government Services and Longenecker and Associates. Any DOE or NNSA office, site, program, or project can obtain services using the ECMS contract.

Parsons has supported the Department of Energy and its predecessor organizations since 1948, providing design; construction and project management; and operational, technical, and management support services. In addition to its current work supporting the modernization of NNSA's facilities that maintain the nations' nuclear deterrence and non-proliferation activities, Parsons is supporting environmental cleanup and providing independent technical and engineering advisory services for emerging renewable energy technologies.

To learn more about Parsons' federal infrastructure and national security solutions, visit https://www.parsons.com/markets/federal-infrastructure/

About Parsons:

Parsons /zigman2/quotes/212182498/composite PSN -2.00% is a leading disruptive technology provider in the national security and critical infrastructure markets, with capabilities across cybersecurity, missile defense, space, C5ISR, transportation, environmental remediation, and water/wastewater treatment. 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.

Media Contact:
Angie Benfield
+1 803.334.5277
Angela.Benfield@parsons.com

Investor Relations Contact:
Dave Spille
+ 1 703.775.6191
Dave.Spille@parsons.com

COMTEX_414022345/2471/2022-09-08T14:00:17

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/zigman2/quotes/212182498/composite
US : U.S.: NYSE
$ 46.97
-0.96 -2.00%
Volume: 120,200
Dec. 9, 2022 3:17p
P/E Ratio
54.57
Dividend Yield
N/A
Market Cap
$4.96 billion
Rev. per Employee
$641,719
loading...
/zigman2/quotes/212182498/composite
US : U.S.: NYSE
$ 46.97
-0.96 -2.00%
Volume: 120,200
Dec. 9, 2022 3:17p
P/E Ratio
54.57
Dividend Yield
N/A
Market Cap
$4.96 billion
Rev. per Employee
$641,719
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