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Parsons Awarded $24 Million Naval Medical Research Command Biodefense Contract

1. Parsons awarded a $24 million biodefense contract with NMRC. 2. Contract focuses on biological threat detection and disease surveillance. 3. Parsons has provided expert scientific support since 2018. 4. Company is positioned in national security and global infrastructure markets. 5. Expertise in biodefense enhances Parsons' market leadership.

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Why Bullish?

The new $24 million contract indicates strong demand for Parsons' biodefense capabilities, which is likely to boost revenue and investor confidence. Historically, similar contract wins have positively impacted companies within the defense sector, reflecting a robustness in government defense spending.

How important is it?

The contract demonstrates security and growth potential within a key area of specialization for Parsons, making it a critical update for investors. Given that the biodefense sector's importance is likely to increase amidst global health concerns, this contract's implications are significant for future growth.

Why Short Term?

The immediate financial benefits from the contract will likely reflect in the upcoming quarters. Rapid recognition of revenue from contracts is typical in government contracting, leading to short-term gains.

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April 07, 2025 06:25 ET  | Source: Parsons Services Company CHANTILLY, Va., April 07, 2025 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that the company was awarded a biological defense research contract to advance the Naval Medical Research Command’s (NMRC) mission to defend against the threat of biological and chemical warfare. The $24 million contract consists of a one-year base period and four one-year option periods. Under this contract, Parsons will continue to support NMRC’s Biological Defense Research Directorate (BDRD) in their efforts to facilitate biological research for the rapid detection of infectious diseases of Department of Defense importance and the enhancement of global disease surveillance for early pathogen detection and response. “At Parsons, our team of world-class scientists combined with our industry-leading biodefense capabilities play a pivotal role in advancing the federal government’s efforts to counter biological threats,” said Jon Moretta, President, Engineered Systems, for Parsons. “We look forward to continuing this critical work with the Naval Medical Research Command in defending U.S. military personnel stationed around the world from threats to their health and safety.” Parsons has performed this work since 2018, providing NMRC with scientists who are subject matter experts in molecular biology, immunology, serology, bacteriology, laboratory science and management, field collection, field lab detection, outbreak response, production of reagents, and assay development. The company offers a full spectrum of biodefense services, including risk assessments; biological threat detection, identification, and surveillance; incident response and management; and technical expertise on issues impacting biosecurity. To learn more about Parsons’ biodefense solutions, visit Parsons.com/health-and-biosciences/. 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. Media Contact:Jonathan Larry+1 706.832.7330jonathan.larry@parsons.com Investor Relations Contact:Dave Spille+1 703.775.6191Dave.Spille@parsons.us

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