Key Takeaways:

Parsons was selected for the U.S. Space Force's National Space Test and Training Complex (NSTTC) Innovative Technology & Engineering – Space Test and Range (NITE-STAR) Capability Development Multiple Award IDIQ.
NITE-STAR aims to ensure Space Force Guardians are prepared for realistic operational scenarios and engagements against peer adversaries in increasingly contested space environments, and awardees had to meet strict qualification criteria including successful delivery of operational space vehicles and ground systems.
The multiple-award IDIQ has a shared ceiling value of $981 million across all awardees and spans two five-year ordering periods, providing a pathway for future task order awards.

CHANTILLY, Va., Aug. 19, 2026 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE:PSN) announced today it has been selected by the U.S. Space Force as an awardee on the National Space Test and Training Complex (NSTTC) Innovative Technology & Engineering – Space Test and Range (NITE-STAR) Capability Development multiple award indefinite delivery indefinite quantity (IDIQ) contract. The contract vehicle has a shared ceiling value of $981 million across all awardees over two five-year ordering periods.

The NITE-STAR contract establishes an acquisition vehicle designed to accelerate the development of advanced space test and training capabilities that ensure U.S. Space Force Guardians are prepared for engagements against peer adversaries in increasingly complex operational environments. Parsons will support the rapid development, integration, and deployment of innovative space vehicle and ground system technologies across the space test and training enterprise

"Maintaining superiority in the space domain requires continuous innovation, realistic training environments, and advanced test capabilities," said Mike Kushin, president, Defense and Intelligence for Parsons. "Through this contract vehicle, Parsons will bring together our expertise in space systems, mission engineering, digital technologies, and national security solutions to help the Space Force advance the next generation of test and training capabilities needed to address evolving threats."

The NITE-STAR initiative is focused on advancing sophisticated space and ground systems and technologies that enable Guardians to operate effectively in a contested space environment. By fostering the development and integration of emerging capabilities, the program helps ensure the Space Force remains prepared for high-stakes operational scenarios while maintaining access to the best available technologies from across the innovation ecosystem.

Parsons has decades of experience supporting national security space missions and delivering advanced solutions spanning space vehicles, space operations, satellite ground systems, cyber, digital engineering, systems integration, and mission-critical infrastructure. The company supports government and defense customers with technologies designed to enhance mission readiness, accelerate innovation, and strengthen operational effectiveness across all domains. Parsons’ NITE-STAR team features Blue Canyon Technologies, Orion Space Solutions, EnduroSat, Turion, and Intuitive Machines.

Learn more about Parsons’ space capabilities here: https://www.parsons.com/space/

About Parsons:

Parsons (NYSE:PSN) 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 Parsons.com and follow us on LinkedIn 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 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.

Media Contact:

Bernadette Miller

+1 980.253.9781

bernadette.miller@parsons.com

Investor Relations Contact:

Dave Spille

+1 703.775.6191

Dave.Spille@parsons.us