Company will support NIWC in advancing next-generation intelligence, surveillance, and reconnaissance systems to strengthen maritime and information operations  Key Takeaways:  Parsons was selected for a $350 million

Parsons Selected for $350M Seabed to Space ISR Effort

Parsons wins $350 million NIWC S2ISR contract, boosting backlog

<section class="insight" data-version="1">
  <section data-block="information">
    <h3>Information</h3>
    <p>Company will support NIWC in advancing next-generation intelligence, surveillance, and reconnaissance systems to strengthen maritime and information operations  Key Takeaways:  Parsons was selected for a $350 million</p>
  </section>

  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>Parsons was awarded a $350 million IDIQ contract with NIWC Pacific to deliver RDT&amp;E and engineering services for the Seabed to Space ISR program. The award validates Parsons’ multi-domain capabilities and incumbency on the existing S2ISR vehicle, enabling continuous revenue visibility and potential task orders across space, air, land, and maritime domains. The news could modestly lift PSN&#039;s backlog and near-term revenue outlook.</p>
  </section>

  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>Parsons selected for a $350M S2ISR IDIQ with NIWC Pacific.</li><li>Contract covers full lifecycle RDT&amp;E to deployment and sustainment.</li><li>Strengthens Navy multi-domain ISR capabilities across space, air, land, sea.</li><li>Parsons is incumbent on the current S2ISR contract, ensuring continuity.</li></ul>
  </section>

  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>Parsons Corporation (PSN)</strong>: Awarded the $350M S2ISR IDIQ contract; potential near-term backlog and revenue impact.</li><li><strong>Naval Information Warfare Center Pacific (N/A)</strong>: Government agency awarding the contract; indirect positive read-through for PSN backlog.</li></ul>
  </section>

  <section data-block="category">
    <h3>Industry News</h3>
    <p>Industry News. The contract win is material for PSN&#039;s defense backlogs and revenue visibility, fitting industry-relevant corporate developments with government contract exposure.</p>
  </section>

  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>New $350M NIWC Pacific S2ISR award expands Parsons&#039; backlog.</li><li>Incumbency increases probability of task orders and quicker revenue flow.</li><li>Positive read-through for Parsons&#039; multi-domain, cyber, and space offerings.</li></ul>
  </section>

  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>Contract value: $350 million.</li><li>Contract type: Indefinite delivery, indefinite quantity (IDIQ).</li><li>Award date: August 20, 2026.</li><li>Program: Seabed to Space ISR (S2ISR) for NIWC Pacific.</li><li>Parsons is incumbent on the current S2ISR vehicle.</li></ul>
  </section>

  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>Bullish near-term on PSN as S2ISR win lifts backlog and revenue visibility.</p>
  </section>
</section>


<link type="text/css" rel="stylesheet" href="https://www.globenewswire.com/styles/gnw_nitf.css"></link><p align="center"><em>Company will support NIWC in advancing next-generation intelligence, surveillance, and reconnaissance systems to strengthen maritime and information operations</em></p>  <p><strong>Key Takeaways:</strong></p>  <ul type="disc"><li>Parsons was selected for a $350 million multiple award IDIQ Seabed to Space ISR (S2ISR) contract supporting NIWC Pacific.</li><li>The work spans full lifecycle engineering, from RDT&amp;E to deployment and sustainment of ISR systems.</li><li>The contract enhances Navy capabilities across space, air, land, and maritime domains to counter evolving threats.<br></br><br></br></li></ul>  <p>CHANTILLY, Va., Aug.  20, 2026  (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/PSN">PSN</a>) announced today that the company was selected by Naval Information Warfare Center (NIWC) Pacific to provide research, development, test, and evaluation (RDT&amp;E) and technical engineering services for the Seabed to Space (S2) Intelligence Surveillance Reconnaissance (ISR) program. The $350 million multiple award indefinite delivery indefinite quantity (IDIQ) contract supports advancing maritime ISR and Information Operations (IO) capabilities for the U.S. Navy.</p>  <p>As an incumbent on the current S2ISR contract vehicle, Parsons brings proven experience and a deep understanding of mission requirements, enabling seamless continuity and immediate operational readiness for critical capabilities.</p>  <p>Under the contract, Parsons will compete for task orders to deliver end-to-end support for ISR systems, from initial development to deployment and sustainment in the field. The company will provide a broad range of technical, operational, and cybersecurity services to ensure these systems remain effective, reliable, and mission-ready.</p>  <p>"Parsons’ selection for the S2ISR program reflects our proven ability to deliver integrated, multi-domain solutions that address increasingly complex mission requirements," said Mike Kushin, president, Defense &amp; Intelligence for Parsons. "By combining advanced engineering, data analytics, and cybersecurity expertise, we are helping the Navy accelerate the delivery of resilient, mission-critical capabilities from the seabed to space."<br></br><br></br>This work will support the Navy’s efforts to design, develop, and field advanced capabilities that enhance communication, surveillance, and security across a wide range of operational environments. Parsons’ solutions will span space, air, land, and maritime domains, including autonomous and non-autonomous platforms, satellite systems, and tactical communications networks.</p>  <p>Through this effort, Parsons will help strengthen the Navy’s ability to stay ahead of evolving threats by delivering adaptable, secure, and interoperable systems that maintain operational effectiveness in dynamic and contested environments. Building on a national security portfolio that includes multi-domain, all-source ISR, autonomous systems integration, cyber and electronic warfare, and space-based mission solutions for the Department of War and the Intelligence Community, Parsons will leverage its proven experience on Navy and joint programs to rapidly field and scale capabilities that are already supporting operational forces worldwide.</p>  <p>To learn more about Parsons’ national security solutions, visit <a href="https://www.globenewswire.com/Tracker?data=ofF1MQkNa155yRdN4hfpT2MfAe0BFkxXx0Hw1t2rePMFpuXfh5G9KphjeSCgeVHykFqJUAdi1YbEe-QiAZjlmc3JtjY4BG3aGGZoTXrqSYQ4cv2IsSDV_P3gQSggkr3kkHMq05ie2LOg5hWzijNcLw==" rel="nofollow" target="_blank">https://www.parsons.com/national-security/</a>.</p>  <p><strong>About Parsons:</strong><br></br><em>Parsons (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/PSN">PSN</a>) is a leading disruptive technology provider in the national security and global infrastructure markets, with capabilities across cyber and electronic warfare, space and missile defense, transportation, water and environment, urban development, and critical infrastructure protection. Please visit </em><a href="https://www.globenewswire.com/Tracker?data=eea7-rzNgYbv1wd0HkXgDCmLAtw_IxKd0NpaD3lQZm97TZQxtn_wnawYL5GoLtNdh-bg8AhqXvaw1GIWnnhRYg==" rel="nofollow" target="_blank"><em>Parsons.com</em></a><em> and follow us on </em><a href="https://www.globenewswire.com/Tracker?data=6Eclz49SI0Rfh_Z__XZ_AI6OHoLWIj3e_dSrGtFLHo9gscRQzVSczKayG-uITZSt8KQD3UmgYTxvxmffh6qPmxfI42k2N_rRAEOdqQtTK4w=" rel="nofollow" target="_blank"><em>LinkedIn</em></a><em> to learn how we’re making an impact.</em></p>  <p><strong>Forward-Looking Statements:</strong><br></br><em>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 Annual Report on Form 10-K for the year ended December 31, 2025, 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 press release that becomes untrue because of subsequent events, new information or otherwise, except to the extent we are required to do so by law.</em></p>  <p>Media Contact:<br></br>Bernadette Miller<br></br>+1 980.253.9781<br></br><a href="https://www.globenewswire.com/Tracker?data=avjSSupMuo6RuzxTAg-zVXSsVW4fGi6ltE-ppzyB0-yomZF7YkTTmQ_n0sxO60CmlqSVm9aLPeE-mnjB5mZ_7gU1_d_mUS7G1lHuKkdL-7vOs_gYHNWfSbIXiozYTepi" rel="nofollow" target="_blank">bernadette.miller@parsons.com</a></p>  <p>Investor Relations Contact:<br></br>Dave Spille<br></br>+1 703.775.6191<br></br><a href="https://www.globenewswire.com/Tracker?data=sOU5v66AEULo55umTMY-73vlQ-XniKsMvUEgCJoCVAHhC9n4FjEMCQVU8p0OLjRfSqd28hKFSJZahQCp-C-w7Lkg-xwb0euGBXEqGAxQ_LE=" rel="nofollow" target="_blank">Dave.Spille@parsons.us</a></p> <img alt="" class="__GNW8366DE3E__IMG" src="https://www.globenewswire.com/newsroom/ti?nf=OTgxMzA4OSM3Nzg0ODY1IzIxODYzOTk="></img> <br></br><img alt="" src="https://ml.globenewswire.com/media/ODk1YTJlYTQtMWVhOS00MDY5LTkzMDctYmM1MDRhOTI2MWNhLTExOTc5NTMtMjAyNi0wOC0yMC1lbg==/tiny/Parsons-Services-Company.png" referrerpolicy="no-referrer-when-downgrade"></img><p><a href="https://www.globenewswire.com/NewsRoom/AttachmentNg/5c5f7c60-e59a-4432-ac4f-44eb3e8c85dc"><img src="https://ml.globenewswire.com/media/5c5f7c60-e59a-4432-ac4f-44eb3e8c85dc/small/parsons-questmark-logo-color-png.png" border="0" width="150" height="31" alt="Primary Logo"></img></a></p>

Parsons was awarded a $350 million IDIQ contract with NIWC Pacific to deliver RDT&E and engineering services for the Seabed to Space ISR program. The award validates Parsons’ multi-domain capabilities and incumbency on the existing S2ISR vehicle, enabling continuous revenue visibility and potential task orders across space, air, land, and maritime domains. The news could modestly lift PSN's backlog and near-term revenue outlook.

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Parsons Selected for $350M Seabed to Space ISR Effort

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