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King Salman Park Foundation Selects Parsons for Project Management Office Services

1. Parsons awarded a 25-month PMO contract for King Salman Park. 2. The project supports Saudi Vision 2030’s 'Quality of Life' Program. 3. Parsons aims to enhance Riyadh’s urban landscape and sustainability. 4. Over 1 million trees will be planted to increase green space. 5. Parsons leverages 80 years of expertise in urban development.

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Why Bullish?

Awarding of a significant contract can boost PSN’s revenue and market position.

How important is it?

The contract represents a key opportunity for growth and showcases Parsons' capabilities.

Why Long Term?

The 25-month project will solidify Parsons' position in future developments in the region.

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April 23, 2025 16:15 ET  | Source: Parsons Services Company CHANTILLY, Va., April 23, 2025 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that it has been awarded a contract for Project Management Office (PMO) services by the King Salman Park Foundation for King Salman Park. This 25-month contract marks new work for Parsons. King Salman Park is one of the world's most unique urban transformation projects, featuring 11.6 sq km of green space and over 10 sq km of built-up area. The Park includes cultural landmarks such as the Royal Arts Complex and a vibrant 7.2 km pedestrian walkway known as The Loop, among many other assets. All these elements are designed to support Saudi Vision 2030’s “Quality of Life” Program. Parsons' responsibilities encompass supporting the delivery strategy of the King Salman Park program, as well as overseeing and reporting on the design, procurement, construction, and implementation of smart city initiatives. "King Salman Park is an exceptional project that seamlessly integrates destination and sustainable urban development. Parsons is honored to contribute to this landmark initiative that is transforming Riyadh’s urban landscape and establishing a legacy," said Pierre Santoni, President, Infrastructure EMEA at Parsons. "Our team will utilize Parsons’ 80 years of global expertise, along with our local experience in designing and managing complex urban projects in the Kingdom, to help deliver this world-class mixed-use development project that will enhance the lives of both residents and visitors." “Sustainability is at the heart of King Salman Park's vision. Located on the former Riyadh Air Base, the Park will transform the area with the planting of 1 million trees and plants. This initiative will significantly enhance the region's vegetation cover, increase per capita green space, and boost biodiversity, supporting local wildlife. Our plans include strategically placing trees along roadsides and near buildings to absorb CO2, increase humidity, and mitigate the heat island effect,” said George Tanasijevich, Chief Executive Officer, King Salman Park Foundation. With over 65 years of regional presence, Parsons offers extensive expertise in urban development, smart mobility, asset management, design, sustainability, and landscape architecture within the Kingdom. 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 protection. Please visit Parsons.com and follow us on LinkedIn and Facebook to learn how we’re making an impact. To join Parsons in creating the future of the Middle East, visit parsons.com/mea A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/10c53037-342f-4a67-8df8-3e4904fa82fe Media Contact Lara Masri Parsons Corporation lara.masri@parsons.com +971 4 4029767 Investor Relations Dave Spille VP, Investor Relations Dave.Spille@Parsons.us +1 703.775.6191 King Salman Park Parsons will provide Project Office Management services for King Salman Park, one of the world's mos...

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