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Last Trade - 27/07/21

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Industrials
Size
Mid Cap
Market Cap £621.8m
Enterprise Value £1.19bn
Revenue £2.06bn
Position in Universe 3060th / 7000

PAE Awarded $12.8M Contract by USAID/Bangladesh for Feed The Future Bangladesh Agricultural Infrastructure Development Activity

Wed 23rd June, 2021 1:00pm
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FALLS CHURCH, Va., June 23, 2021 (GLOBE NEWSWIRE) -- PAE (NASDAQ: PAE, PAEWW),
a global leader in delivering smart development solutions to the U.S.
government and its partner nations, was awarded a five-year, $12.8 million
contract by the United States Agency for International Development to support
the Agency’s Feed the Future Bangladesh Agricultural Infrastructure
Development Activity.

PAE will build the capacity of the Government of Bangladesh’s Local
Government Engineering Department to modernize infrastructure in priority
rural farming communities. The Activity will consist of improvements to roads,
irrigation and drainage systems, as well as market and collection centers, and
cold storage facilities as a means of increasing access to markets,
strengthening agricultural production, and improving farmers’ livelihoods.

PAE Interim President and CEO Charlie Peiffer said the team combines its
global infrastructure experience with local, technical expertise to allow it
to bring innovative, yet practical ideas to this important program.

“USAID has a strong history of supporting agricultural infrastructure
development in Bangladesh and PAE is excited for the opportunity to build on
this success,” Peiffer said. “We look forward to bringing local
government, rural farmers and the private sector together to deliver impactful
results.”

PAE will strengthen the LGED’s capacity to strategically plan, construct and
maintain rural infrastructure in the Feed the Future Zone of Influence and the
USAID/Bangladesh Zone of Resilience target geographic areas. To minimize
post-harvest losses, the work will improve roads, support irrigation
operations and maintenance, and develop best practices for lasting,
sustainable change.

About PAE
For more than 65 years, PAE has tackled the world’s toughest challenges to
deliver agile and steadfast solutions to the U.S. government and its partner
nations. With a global workforce of about 20,000 on all seven continents and
in approximately 60 countries, PAE delivers a broad range of operational
support services to meet the critical needs of our clients. Our headquarters
is in Falls Church, Virginia. Find us online at pae.com
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on Facebook
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About USAID in Bangladesh
The U.S. government, through USAID, has provided more than $8 billion in
development assistance to Bangladesh since its independence. Additionally, the
U.S. government has committed $84 million of assistance from multiple agencies
to support COVID-19 response efforts. In 2020, USAID alone provided over $200
million to improve the lives of people in Bangladesh through programs that
expand food security and economic opportunity, improve health and education,
promote democratic institutions and practices, protect the environment, and
increase resilience to climate change.

Forward-Looking Statements
This press release may contain a number of “forward-looking statements” as
defined in the Private Securities Litigation Reform Act of 1995. These
forward-looking statements include, but are not limited to, statements about
PAE’s possible or assumed future results of operations, financial results,
backlog, estimation of resources for contracts, strategy for and management of
growth, needs for additional capital, risks related to U.S. government
contracting generally, including congressional approval of appropriations and
bid protests, and risks from operating internationally. These forward-looking
statements are based on PAE’s management’s current expectations,
estimates, projections and beliefs, as well as a number of assumptions
concerning future events.

These forward-looking statements are not guarantees of future performance,
conditions or results, and involve a number of known and unknown risks,
uncertainties, assumptions and other important factors, many of which are
outside PAE’s management’s control, that could cause actual results to
differ materially from the results discussed in the forward-looking
statements.

Forward-looking statements included in this release speak only as of the date
of this release. PAE does not undertake any obligation to update its
forward-looking statements to reflect events or circumstances after the date
of this release except as may be required by the federal securities laws.

For media inquiries regarding PAE, contact:
Terrence Nowlin
Senior Communications Manager
PAE
703-656-7423
terrence.nowlin@pae.com

For investor inquiries regarding PAE, contact:
Mark Zindler
Vice President, Investor Relations
PAE
703-717-6017
mark.zindler@pae.com

(https://www.globenewswire.com/NewsRoom/AttachmentNg/fcc8a68c-a0d6-41da-9db8-5dd40cc2bf70)



GlobeNewswire, Inc. 2021
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