Parsons JV with Versar wins $75mln USACE contract for construction services.

• Parsons Corporation awarded $75M USACE contract for construction phase support services • JV with Versar to provide construction management services for 5 years • Parsons serves as managing partner and has been a trusted USACE partner for decades • Contract includes 3-year base period and 2-year option period • Parsons-Versar will support USACE presence in Central Command Area of Responsibility • Services include support for Foreign Military Sales and Military Construction Programs.

Parsons Corporation (NYSE: PSN) has been awarded a $75 million contract by the U.S. Army Corps of Engineers (USACE) Middle East District for construction phase support services (CPSS). The contract, which includes a three-year base period with a two-year option, is a significant win for the company and its joint venture partner, Versar.

Under the terms of the contract, Parsons, serving as the managing partner, will continue to provide construction management services that support USACE's presence in the Central Command Area of Responsibility. This includes supporting both Foreign Military Sales and Military Construction Programs. The Parsons-Versar JV has a proven track record, having completed over 60 task orders for USACE Middle East District over the past 12 years.

This latest contract is the third iteration of the CPSS contract for Parsons, demonstrating the company's long-standing relationship with USACE. The contract's structure provides medium-term revenue visibility, with a three-year base period and a two-year option, which is favorable for the company's financial planning.

Parsons' top-three ranking among professional services firms by Engineering News-Record further validates its industry leadership in this sector. The company's extensive experience working in complex and austere environments, coupled with its global recognition as a construction management leader, positions it strongly in the defense sector.

This contract win underscores Parsons' strategic continuity in its government business segment and reinforces its entrenched position with USACE. The geographic focus on the CENTCOM Area of Responsibility maintains Parsons' footprint in a strategically important region where U.S. defense spending remains resilient despite broader budget fluctuations.

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[1] https://www.stocktitan.net/news/PSN/parsons-versar-joint-venture-awarded-75-million-u-s-army-corps-of-k89vc6zbhb5x.html