Parsons Signs MOU With Startup Wise Guys To Drive Technical Innovation In Saudi Arabia

CHANTILLY, VA (October 22, 2025) - Parsons Corporation (NYSE:PSN) announced during the Construction Technology Festival in Riyadh a Memorandum of Understanding (MOU) with Startup Wise Guys, a company with Saudi Arabian presence. The agreement will facilitate pilot opportunities and joint ecosystem development for Parsons in the Kingdom.

Parsons has successfully deployed several startup technologies on mega and giga projects. With the signing of this MOU, Startup Wise Guys will serve as one of Parsons' official Proof-of-Concept partners for the Future Build Assets Accelerator Program launched in 2024, which aims to support the growth of construction technology startups in Saudi Arabia. The Program is sponsored by government entities including the Real Estate General Authority as well as the National Technology Development Program, a government initiative under the Ministry of Communications and Information Technology.

"Parsons is proud to support ecosystem development in Saudi Arabia and this MOU with Startup Wise Guys aligns with our commitment to fostering enduring and forward-thinking solutions that drive innovation," said Martin Boson, Senior Vice President and General Manager, for Parsons in Saudi Arabia. ''What sets Parsons apart is our ability to actively identify, pilot, and scale emerging technologies, including the seamless integration of AI enabling unprecedented efficiences into the way we manage our projects. By combining global best practices with local innovation, Parsons continues to deliver cutting-edge solutions that create lasting value."

"Startup Wise Guys, through the NeoCity program, is thrilled to collaborate with Parsons in driving innovation at the intersection of technology and the built environment", Aya Zaghnin, Managing Partner at Startup Wise Guys. "Together, we aim to accelerate the adoption of solutions that enhance productivity, efficiency, and sustainability across Saudi Arabia's real estate and infrastructure sectors. Parsons' deep engineering expertise, combined with NeoCity's network of global startups, will help transform how cities are designed, constructed, and managed - aligning perfectly with the Kingdom's Vision 2030 ambition to build smarter, more connected urban communities for generations to come."

An industry-leader in AI, Parsons' adopts AI-powered innovations through accelerator programs to optimize operational workflows, enhance design accuracy, and significantly reduce project timelines. Ninety-two percent of Parsons' EMEA projects operate with three or more digital workflows for quality, safety, and supervision generating long-term value for clients.

For example, in 2025, OpenSpace, an AI powered technology used by Parsons in partnership with SEKTOR.build, has been deployed across 111 projects. These deployments cover more than 5 million square meters of site conditions documented, analyzed, and shared via Parsons' digital supervision ecosystem. The outcomes are both immediate and impactful: 30% more inspections per engineer per week, 24-hour faster quality report turnaround and 4 hours of administrative work saved per engineer per day.

Parsons has an 80-year global legacy including a long-standing presence in the Kingdom of Saudi Arabia, dating back to 1958. As the world's #1 program manager as ranked by Engineering News Record, Parsons has served as a trusted project management firm throughout the EMEA region with a team of more than 7,000 employees, and expertise including smart mobility, asset management, urban planning, destination development, landscape architecture and critical infrastructure protection. With a legacy of delivering innovative infrastructure solutions, Parsons continues to play a pivotal role in supporting the Kingdom's Vision 2030 National Transformation Program, which aims to develop the country's digital economy, creating a diversified, innovative, and world-leading nation.

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