February 29, 2024

Iteris Chosen to Support Intelligent Transportation Systems Project in Los Angeles County

Initiative will improve traffic flow for bus transportation in Downey, California

Contacts

Media Contact

Breanna Wallace

Tel: (949) 996-5348

Email: [email protected]

Investor Relations

MKR Investor Relations, Inc.

Todd Kehrli

Tel: (213) 277-5550

Email: [email protected]

Iteris, Inc. (NASDAQ: ITI), the world’s trusted technology ecosystem for smart mobility infrastructure management, today announced that it has been awarded a new contract by the City of Downey in Los Angeles County, California for a regional smart mobility project.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240213671547/en/

Iteris Chosen to Support Intelligent Transportation Systems Project in Los Angeles County (Photo: Business Wire)

Iteris Chosen to Support Intelligent Transportation Systems Project in Los Angeles County (Photo: Business Wire)

The five-month, nearly $900,000 contract was awarded under the Downey Citywide Bus Signal Priority Project and will involve the installation of technology to enable buses to request priority at signalized intersections. This initiative will help the Downey LINK transit system keep their buses moving and transporting riders on time, while helping to improve traveler throughput at each intersection.

This project is part of Iteris’ new Intelligent Transportation Systems (ITS) Build initiative that focuses on delivering specialized ITS installation services for Iteris traffic sensors, as well as other ITS hardware. The benefits to agencies include a streamlined procurement process, accelerated implementation schedules and increased cost savings. The service is currently available in California and Texas but is expected to be expanded to other markets.

“We’re excited to be working on this regional smart mobility, safety and sustainability project,” said Scott Carlson, general manager and vice president, mobility professional services at Iteris. "We have a long track record of successfully delivering signal priority projects of this nature, and we’re looking forward to working with International Line Builders and the City of Downey to deliver this one. It also signifies the ongoing growth of Iteris’ ITS Build initiatives on the West Coast, aiming to enhance the value, efficiency and robustness of the area’s current transportation infrastructure."

About Iteris, Inc.

Iteris is the world’s trusted technology ecosystem for smart mobility infrastructure management. Delivered through Iteris’ ClearMobility® Platform, our AI-powered end-to-end solutions monitor, visualize and optimize mobility infrastructure around the world, and help bridge legacy technology silos to unlock the future of transportation. That’s why more than 10,000 public agencies and private-sector enterprises focused on mobility rely on Iteris every day. Visit www.iteris.com for more information, and join the conversation on Twitter, LinkedIn and Facebook.

Iteris Forward-Looking Statements

This release may contain forward-looking statements, which speak only as of the date hereof and are based upon our current expectations and the information available to us at this time. Words such as "believes," “feels,” "anticipates," "expects," "intends," "plans," "seeks," "estimates,” "may," “could,” “should,” “will,” "can," and variations of these words or similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, statements about the awarded contract and the benefits and capabilities of our services and solutions. Such statements are not guarantees of future performance and are subject to certain risks, uncertainties, and assumptions that are difficult to predict, and actual results could differ materially and adversely from those expressed in any forward-looking statements as a result of various factors.

Important factors that may cause such a difference include, but are not limited to, our ability to provide our services and products in a cost-efficient manner; adverse impacts of performance timing, project and contract cancellations, and availability of resources, such as components and equipment, necessary to perform the work for the project; the potential impact of product and service offerings from competitors and other competitive pressures, such as competitors’ patent coverage and claims; and the impact of general economic, political, and other conditions in the markets we address. Further information on Iteris, Inc., including additional risk factors that may affect our forward-looking statements, is contained in our Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q, our Current Reports on Form 8-K, and our other SEC filings that are available through the SEC’s website (www.sec.gov).

NASDAQ and NYSE quotes and data are delayed 15 minutes unless indicated otherwise. Market data and exchange information are provided for informational purposes only and is not intended for trading purposes. Neither 24/7 Market News Editors, 247 Market News, or data and content providers shall be liable for any errors or omissions, delays, misquotes or other market information relayed in any press materials. You should Use Realtime data to conduct due diligence before investing or trading, and trading in any stock is risky you could lose all your money.