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Booz Allen Invests In Second Front Systems to Speed USG Innovation

Investment supports first of its kind authority to operate (ATO) software for day one mission impact

"The U.S. government spends more than $100 billion annually on information technology to modernize federal cloud infrastructure and deliver mission solutions," said Julie McPherson, executive vice president at Booz Allen and leader of the firm's Digital Solutions business. "Accreditation of new software applications typically takes two years and approximately $1.5 to $2 million to obtain an authority to operate. 2F streamlines this process, accelerating the adoption of commercial off-the-shelf solutions for DOD, U.S. government, and key allies in today's fast-paced environment."

The investment by Booz Allen Ventures is aligned with the firm's VoLT business strategy, focused on velocity, leadership, and technology-and supports Booz Allen's Chief Technology Office and Digital Battlespace Platform missions. "The Game Warden Platform not only accelerates software delivery across our portfolio, but it unlocks an entire ecosystem of promising software products and capabilities that have been out of reach of operational programs and users," said Booz Allen Executive Vice President Steve Escaravage, executive vice president at Booz Allen and leader of the firm's Digital Battlespace Platform.

"This is the future of software accreditation to speed innovation for critical missions and U.S. advantage," added Brian MacCarthy, senior vice president at Booz Allen and managing partner for Booz Allen Ventures. "We invested in 2F not only because of anticipated mission impact, but also mission understanding: Their accreditation solution reduces barriers to entry in a safe, standardized, and scalable way for non-traditional vendors developing real, novel, and needed solutions."

2F's leadership team is comprised of veterans with deep military and tech experience-aligned with Booz Allen's efforts to develop client solutions at the heart of mission understanding and technology expertise.

"As we work to change the relationship between commercial software and national security, collaborating with Booz Allen was the obvious choice," said Tyler Sweatt, CEO at 2F. "Combining the Game Warden platform with their broad customer and program expertise and insight will allow us to rapidly scale the impact of commercial software in national security and we couldn't be more stoked."

Additional investors in 2F this funding round include NEA and Moore Strategic Ventures, LLC.

Since launching in 2022, Booz Allen's $100 million corporate venture capital arm has made seven strategic investments in early-stage companies and dual-use commercial technologies with focus on four core areas: defense, artificial intelligence/machine learning, cybersecurity, and emerging/deep technology. Previous Booz Allen Ventures investments include Latent AI, Synthetaic, Reveal Technology, Credo AI, Hidden Level, Shift5, and Hidden Layer.

Read more about Booz Allen Ventures.

About Booz Allen Hamilton

Trusted to transform missions with the power of tomorrow's technologies, Booz Allen Hamilton advances the nation's most critical civil, defense, and national security priorities. We lead, invest, and invent where it's needed most-at the forefront of complex missions, using innovation to define the future. We combine our in-depth expertise in AI and cybersecurity with leading-edge technology and engineering practices to deliver impactful solutions. Combining more than 100 years of strategic consulting expertise with the perspectives of diverse talent, we ensure results by integrating technology with an enduring focus on our clients. We're first to the future-moving missions forward to realize our purpose: Empower People to Change the WorldŽ.

With global headquarters in McLean, Virginia, our firm employs more than 33,100 people globally as of September 30, 2023 and had revenue of $9.3 billion for the 12 months ended March 31, 2023. To learn more, visit www.boozallen.com. (NYSE: BAH)

Forward Looking Statements

Certain statements contained in this presentation and in related comments by our management include "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Examples of forward-looking statements include statements that do not directly relate to any historical or current fact. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "could," "should," "forecasts," "expects," "intends," "plans," "anticipates," "projects," "outlook," "believes," "estimates," "predicts," "potential," "continue," "preliminary," or the negative of these terms or other comparable terminology. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we can give you no assurance these expectations will prove to have been correct.

These forward-looking statements relate to future events or our future financial performance and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ materially from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. A number of important factors could cause actual results to differ materially from those contained in or implied by these forward-looking statements, including those factors discussed in our filings with the Securities and Exchange Commission (SEC), including our Annual Report on Form 10-K for the fiscal year ended March 31, 2023, which can be found at the SEC's website at www.sec.gov. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the foregoing cautionary statements. All such statements speak only as of the date made and, except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

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