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CoreCivic Announces Four New Contract Modifications to Add Capacity for U.S. Immigration and Customs Enforcement

1. CoreCivic adds 784 ICE detainee capacity across multiple facilities. 2. Existing contracts include USMS and state rehabilitation agencies. 3. CEO mentions anticipated increased demand from federal partners. 4. CoreCivic is positioned to meet flexible government needs efficiently.

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Why Bullish?

The expansion of detainee capacity indicates operational growth and potential revenue increase. Historically, similar expansions positively impacted stock performance.

How important is it?

The contract modifications represent significant operational changes that may directly influence CXW’s financials. The article's focus on increased capacity suggests strong future demand.

Why Short Term?

Immediate increase in capacity could lead to faster contract fulfillment and revenue growth. However, the market’s reaction could be short-lived depending on broader economic conditions.

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BRENTWOOD, Tenn., Feb. 27, 2025 (GLOBE NEWSWIRE) -- CoreCivic, Inc. (NYSE: CXW) ("CoreCivic") announced today that it has entered into contract modifications to add capacity for up to a total of 784 detainees from U.S. Immigration and Customs Enforcement ("ICE") at its 2,016-bed Northeast Ohio Correctional Center, its 1072-bed Nevada Southern Detention Center, and its 1,600-bed Cimarron Correctional Facility in Oklahoma. In addition, CoreCivic has obtained a contract modification to specify that ICE may use up to 252 beds at its 2,672-bed Tallahatchie County Correctional Facility in Mississippi. CoreCivic currently cares for approximately 650 residents under a contract with the U.S. Marshals Service ("USMS"), as well as 925 residents under a contract with the Ohio Department of Rehabilitation and Correction at the Northeast Ohio Correctional Center. CoreCivic currently cares for approximately 800 residents under a contract with the USMS at the Nevada Southern Detention Center, and approximately 1,100 residents under a contract with the USMS at the Cimarron Correctional Facility. CoreCivic currently cares for approximately 1,400 residents at the Tallahatchie County Correctional Facility under contracts with eight different customers. Damon T. Hininger, CoreCivic's Chief Executive Officer, commented, "We are pleased to provide U.S. Immigration and Customs Enforcement with this additional capacity. We have an extensive supply of available beds that provides our government partners the flexibility to satisfy their immediate and long-term needs in a cost-effective manner. I am particularly proud of our dedicated team of professionals at each of these three facilities who are capable of managing these diverse customer requirements. We are entering a period where our government partners, particularly our federal government partners, are expected to have increased demand. We anticipate additional contracting activity that will help satisfy their growing needs." About CoreCivic CoreCivic is a diversified, government-solutions company with the scale and experience needed to solve tough government challenges in flexible, cost-effective ways. We provide a broad range of solutions to government partners that serve the public good through high-quality corrections and detention management, a network of residential and non-residential alternatives to incarceration to help address America’s recidivism crisis, and government real estate solutions. We are the nation’s largest owner of partnership correctional, detention and residential reentry facilities, and believe we are the largest private owner of real estate used by government agencies in the United States. We have been a flexible and dependable partner for government for more than 40 years. Our employees are driven by a deep sense of service, high standards of professionalism and a responsibility to help government better the public good. Learn more at www.corecivic.com. Cautionary Note Regarding Forward-Looking Statements This press release includes forward-looking statements as to our beliefs and expectations of the outcome of future events including increasing demand from our government partners, particularly our federal government partners, and the prospects of growth in CoreCivic's business. These forward-looking statements may include such words as "anticipate," "estimate," "expect," "project," "plan," "intend," "believe," "may," "will," "should," "can have," "likely," and other words and terms of similar meaning in connection with any discussion of the timing or nature of future operating or financial performance or other events. Such forward-looking statements may be affected by risks and uncertainties in CoreCivic's business and market conditions. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from the statements made. Important factors that could cause actual results to differ are described in the filings made from time to time by CoreCivic with the Securities and Exchange Commission ("SEC") and include the risk factors described in CoreCivic's Annual Report on Form 10-K for the fiscal year ended December 31, 2024, filed with the SEC on February 21, 2025. Except as required by applicable law, CoreCivic undertakes no obligation to update forward-looking statements made by it to reflect events or circumstances occurring after the date hereof or the occurrence of unanticipated events. Contact:Investors: Michael Grant - Managing Director, Investor Relations - (615) 263-6957Media: Steve Owen – Vice President, Communications - (615) 263-3107

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