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Perspecta Awarded $75 Million Program to Support the Continued Reform and Modernization for the National Background Investigation Service

Chantilly, Va.— May 28, 2019—Perspecta Inc. (NYSE: PRSP), a leading U.S. government services provider, announced today that it has been awarded an Other Transaction Agreement  (OTA) from the Defense Security Service (DSS) and Defense Information Systems Agency (DISA), to support the continued reform and modernization strategy for the National Background Investigation Service (NBIS). The two-year award represents new work for the company and has a potential ceiling value of nearly $75 million.

Under the agreement, Perspecta will work to update and rebuild the Department of Defense (DoD) personnel security vetting and adjudication technology apparatus. The goal of the program is to make the personnel security clearance process faster, scalable and more secure through an innovative delivery model. Specifically, the company plans to leverage commercial-off-the-shelf solutions combined with its advanced data analytics capabilities and expertise in emerging technology areas such as big data, cloud, artificial intelligence and machine learning, to deliver a new, more agile process to support DSS’ rapidly evolving needs.

“Perspecta is a leading DoD mission partner in supporting the development of a trusted workforce model that can meet evolving national security demands and better support the dedicated personnel involved in background investigations and adjudication,” said Mac Curtis, president and chief executive officer of Perspecta. “We applaud DoD’s efforts to drive bold, transformational change in technology and will provide an unmatched combination of proven innovation and intellectual property (IP), scalable agile development/security/operations (DevSecOps) expertise and intimate knowledge of the security clearance vetting process to our DSS customer.”

To deliver the DSS OTA program, Perspecta has partnered with Torch Research, LLC; C3.ai; Pegasystems, Inc.; CA Technologies (A Broadcom Company); Accenture Federal Services, LLC; Prime Technical Services, Inc.; and Next Tier Concepts, Inc.

About Perspecta Inc.

At Perspecta (NYSE: PRSP), we question, we seek and we solve. Perspecta brings a diverse set of capabilities to our U.S. government customers in defense, intelligence, civilian, health care and state and local markets. Our 260+ issued, licensed and pending patents are more than just pieces of paper, they tell the story of our innovation. With offerings in mission services, digital transformation and enterprise operations, our team of 14,000 engineers, analysts, investigators and architects work tirelessly to not only execute the mission, but build and support the backbone that enables it. Perspecta was formed to take on big challenges. We are an engine for growth and success and we enable our customers to build a better nation.  For more information about Perspecta, visit perspecta.com.

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This press release may contain forward-looking statements. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Perspecta and are subject to significant risks and uncertainty. Readers are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Perspecta undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Perspecta believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve a variety of risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements.

 

Contact:
 

Lorraine M. Corcoran
Vice President, Corporate Communications
571.313.6054 office
301.529.9429 mobile

lorraine.corcoran@perspecta.com

M. Stuart Davis
Vice President, Investor Relations
703.547.0300 office
571.424.6262 mobile

stuart.davis@perspecta.com

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Perspecta Increases Its Cash Dividend by 20 Percent and Appoints Glenn A. Eisenberg to its Board of Directors

Perspecta Inc. (NYSE: PRSP), a leading U.S. government services provider, announced today that its board of directors approved an increase in the company’s regular cash dividend approach for fiscal year 2020, declaring a cash dividend of $0.06 per share for the quarter ended March 31, 2019, a 20 percent increase over the previous quarterly cash dividend of $0.05 per share. The dividend is payable July 16, 2019 to shareholders of record at the close of business on June 5, 2019. Payment of quarterly dividends is subject to authorization by Perspecta’s board of directors.