Jacobs to Support VPRA in Transforming Passenger Rail in Virginia

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Jacobs has been selected as the prime consultant to the Virginia Passenger Rail Authority (VPRA) to deliver general engineering consulting services for passenger rail initiatives under its Transforming Rail in Virginia infrastructure program. The contract is estimated to be up to $10 million per year for a one-year contract with the option to renew for an additional three years. Jacobs will provide comprehensive support for the improvement and expansion of the existing Amtrak service and restoration of Amtrak's Roanoke to the New River Valley service, enabling efforts to establish high-speed passenger rail in the state and increasing resilient and equitable connectivity to Amtrak's Northeast corridor and the rest of the nation.

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• Jacobs selected as prime consultant for Virginia Passenger Rail Authority (VPRA) contract worth up to $10 million per year. Contract includes support for improving and expanding Amtrak service and restoration of Roanoke to New River Valley service. Efforts to establish high-speed passenger rail in the state. Positive impact on Jacobs' revenue and potential for future contracts.

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Delivering consulting and advisory services to enhance critical infrastructure and mobility for state

DALLAS, July 13, 2023 /PRNewswire/ -- Jacobs (NYSE:J) was selected as the prime consultant to the Virginia Passenger Rail Authority (VPRA) to deliver general engineering consulting services for passenger rail initiatives under its Transforming Rail in Virginia infrastructure program, which will connect communities and enhance mobility in Virginia.

VPRA estimates the contract value at up to $10 million per year for a one-year contract with the option to renew for an additional three years. The scope includes, but is not limited to, supporting the planning, design, construction and overall maintenance of projects in connection to the Transforming Rail in Virginia program aiming to double the Amtrak state-supported service, and increasing the Virginia Railway Express (VRE) service during the next decade. Through solutions like market analysis and travel demand forecasting, Jacobs will provide comprehensive support for the improvement and expansion of the existing Amtrak service and restoration of Amtrak's Roanoke to the New River Valley service, enabling efforts to establish high-speed passenger rail in the state and increasing resilient and equitable connectivity to Amtrak's Northeast corridor and the rest of the nation.

"This contract is an opportunity to help futureproof Virginia's rail systems in an affordable and equitable way," said Jacobs Americas North Region Senior Vice President and General Manager Chrissy Thom. "We are modernizing critical infrastructure to create more connected and sustainable communities where we live and work."

Jacobs will also support general planning and consulting services for the program under another contract, which VPRA also estimates to be up to $10 million per year, with the option to renew for an additional four years. During the past ten years, Jacobs has shaped the future of rail and transportation in the state of Virginia through our delivery for the Department of Rail and Public Transportation (DRPT), which partners with the newly formed VPRA

At Jacobs, we're challenging today to reinvent tomorrow by solving the world's most critical problems for thriving cities, resilient environments, mission-critical outcomes, operational advancement, scientific discovery and cutting-edge manufacturing, turning abstract ideas into realities that transform the world for good. With approximately $15 billion in annual revenue and a talent force of more than 60,000, Jacobs provides a full spectrum of professional services including consulting, technical, scientific and project delivery for the government and private sector. Visit jacobs.com and connect with Jacobs on Facebook, Instagram, LinkedIn and Twitter.

Certain statements contained in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that do not directly relate to any historical or current fact. When used herein, words such as "expects," "anticipates," "believes," "seeks," "estimates," "plans," "intends," "future," "will," "would," "could," "can," "may," and similar words are intended to identify forward-looking statements. We base these forward-looking statements on management's current estimates and expectations, as well as currently available competitive, financial and economic data. Forward-looking statements, however, are inherently uncertain. There are a variety of factors that could cause business results to differ materially from our forward-looking statements including, but not limited to, the timing of the award of projects and funding and potential changes to the amounts provided for under the Infrastructure Investment and Jobs Act, as well as general economic conditions, including inflation and the actions taken by monetary authorities in response to inflation, changes in interest rates and foreign currency exchange rates, changes in capital markets, the possibility of a recession or economic downturn, geopolitical events and conflicts, and the impact of the COVID-19 pandemic, including the related reaction of governments on global and regional market conditions, among others. For a description of some additional factors that may occur that could cause actual results to differ from our forward-looking statements, see the discussions contained under Item 1 - Business; Item 1A - Risk Factors; Item 3 - Legal Proceedings; and Item 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations in our most recently filed Annual Report on Form 10-K, and  Item 2 - Management's Discussion and Analysis of Financial Condition and Results of Operations; Item 1 - Legal Proceedings; and Item 1A - Risk Factors in our most recently filed Quarterly Report on Form 10-Q, as well as the company's other filings with the Securities and Exchange Commission. The company is not under any duty to update any of the forward-looking statements after the date of this press release to conform to actual results, except as required by applicable law.

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FAQ

What is Jacobs' role in the Virginia Passenger Rail Authority (VPRA) contract?

Jacobs has been selected as the prime consultant to deliver general engineering consulting services for passenger rail initiatives under the Transforming Rail in Virginia infrastructure program.

What is the estimated value of the contract?

The contract is estimated to be up to $10 million per year for a one-year contract with the option to renew for an additional three years.

What projects will Jacobs support under the contract?

Jacobs will provide support for the improvement and expansion of the existing Amtrak service and restoration of Amtrak's Roanoke to the New River Valley service, as well as efforts to establish high-speed passenger rail in the state.

What is the potential impact of the contract on Jacobs' revenue?

The contract could have a positive impact on Jacobs' revenue, as it is worth up to $10 million per year.

Are there opportunities for future contracts with VPRA?

Yes, the contract includes the option to renew for an additional three years, providing potential for future contracts with VPRA.