Key Takeaways:

Parsons was awarded a $33 million contract to deploy its iNET^® smart mobility system statewide to support design, development, integration, testing, operations, and maintenance for NYSDOT’s Transportation Systems Management and Operations (TSMO) software system.
The award continues Parsons’ success in winning statewide advanced traffic management system deployments.
Leveraging Parsons’ infrastructure market knowledge and technology solutions, the company delivers advanced digital solutions like iNET^® to global customers.

CHANTILLY, Va., July 20, 2026 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE:PSN) announced today that the company was selected by the New York State Department of Transportation (NYSDOT) to deliver the NYSDOT Statewide TSMO Software System. The $33 million contract includes an enterprise-level deployment of iNET ^®, Parsons’ intelligent transportation software (ITS) platform, as well as system design, software development, integration, testing, and operations and maintenance services.

This award represents new work for Parsons and establishes another major statewide anchor, joining Georgia and New Jersey, and builds on district-level advanced traffic management system deployments the company previously delivered in New York.

"The modernization of New York’s transportation systems management operations program reflects a forward-looking investment that will enhance agencies’ abilities to operate safer, smarter, and more resilient transportation networks for their citizens," said Mark Fialkowski, president, Infrastructure North America for Parsons. "Parsons brings deep advanced traffic management system experience, proven software, and a regional team that understands New York’s transportation priorities. We are proud to support NYSDOT as it advances a unified platform for real-time operations across the state."

Under the contract, Parsons will provide a fully integrated freeway and arterial advanced traffic management system across NYSDOT’s 11 districts. The platform will help NYSDOT enhance overall transportation system efficiency by centralizing operations into a single statewide view, strengthening coordination across districts, and supporting the agency’s long-term TSMO strategy. In addition, the scope includes replacing central processing unit cards for more than 6,000 traffic signal controllers statewide. This program will help the agency improve how it manages transportation systems and delivers reliable mobility for the New York public.

Parsons has more than half a century of experience designing, delivering, protecting, and connecting the infrastructure that links communities around the world, including roads and highways; bridges; passenger and freight rail; public transit; airports; and ports and waterways. The company’s ATMS and ITS solutions have been deployed more than 100 times around the world, connecting thousands of devices and traffic signals to monitor, manage, and improve road safety and efficiency. Leveraging digital solutions like ATMS, ITS, as well as digital twins and artificial intelligence, Parsons delivers future-ready solutions that help extend the longevity of infrastructure while elevating the quality of life for the people who rely on that infrastructure every day.

To learn more about iNET^®, visit www.parsons.com/products/inet/.

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