PSN Parsons Corporation

Parsons Corporation (NYSE: PSN), announced today that the official inauguration took place on 27 November 2024 for the $27 billion Riyadh Metro. Parsons is one of three consultants working as part of a Parsons-led joint venture known as the Riyadh Metro Transit Consultants (RMTC), along with Egis and SYSTRA, providing project and construction management on two of the Royal Commission for Riyadh City’s (RCRC) Riyadh Metro contracts which Parsons has now successfully delivered.

“From its inception, the Riyadh Metro was conceived as a transformative project to reshape urban mobility and dramatically improve the lives of residents and visitors alike. On behalf of Parsons, a long-term partner of the RCRC, and the lead consultant for the delivery of this world-class system, I would like to congratulate His Majesty King Salman and His Royal Highness Crown Prince Mohamed Bin Salman on its first day of operations,” said Pierre Santoni, President, Infrastructure EMEA at Parsons. “We look forward to supporting the city of Riyadh and the Kingdom in the successful completion of subsequent stages of the metro and the wider Saudi Vision 2030, by using global experience and deep local expertise to deliver excellence on every project.”

The Riyadh Metro is set to be the longest driverless metro line in the world, made up of 176.5 kilometers of track, 86 transit stations, and 7 rail depots. The project marks a significant milestone in the Kingdom's infrastructure development journey. In addition to using the latest technology to provide a world-class transportation experience, the project addresses Riyadh’s traffic challenges and will improve traffic flows, reduce commute times and alleviate traffic congestion creating a more sustainable future for the capital city in line with the Saudi Vision 2030.

As of August 2024, RMTC worked more than 7 million hours lost time injury free, which is a testament to the health, safety and environment (HSE) measures implemented on the project. The project has had more than 450,000 HSE inductions and over 13,000 HSE campaigns.

Parsons has partnered with more than 400 rail and transit clients, working on large, complex brownfield expansion and greenfield projects around the world. With a presence in EMEA spanning more than 65 years, Parsons brings deep domain expertise across project and program management, urban development, transportation (including rail, metro, aviation, roads, and ports), smart mobility, asset management, and master planning.

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 protection. Please visit Parsons.com and follow us on LinkedIn and Facebook to learn how we’re making an impact.

To join Parsons in creating the future of the Middle East, visit parsons.com/mea.

Media Contact:Lara Masri+971 4 4029767Lara.Masri@parsons.com

Investor Relations Contact:Dave Spille+ 1 703.775.6191Dave.Spille@parsons.com