Rapiscan Named Official Physical Screening and Security Technology Hardware/Software Solutions Provider of the LA28 Olympic and Paralympic Games and Supporter of Team USA

LOS ANGELES--(BUSINESS WIRE)--Aug 19, 2026--

Rapiscan®, a global leader in security inspection and integrated security hardware and software solutions, and a division of OSI Systems, Inc. (NASDAQ: OSIS), today announced it has been named the Official Provider of Physical Screening and Security Technology Hardware/Software Solutions of the LA28 Olympic and Paralympic Games and an Official Supporter of Team USA. The partnership marks a significant milestone for the Los Angeles-based company, which is positioned to support one of the largest and most complex sporting events in the world through advanced security technology hardware and software, integrated security platforms, and physical security operational expertise.

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The LA28 Games will bring the world's greatest athletes together with millions of spectators, volunteers, and stakeholders from around the globe. Through this partnership, Rapiscan stands ready to support the Games with advanced screening technologies, integrated physical security hardware and software solutions, and mission-focused expertise designed to help LA28 plan, deploy, and operate coordinated safety and security capabilities at scale.

The partnership highlights Rapiscan's position as an innovator in modern security solutions and its evolution into a leading provider of fully integrated security solutions. The company combines AI-enabled technologies in screening hardware, access control technologies, security software, physical security services training and operational support into cohesive solutions for complex, high-consequence environments. As security challenges continue to evolve, Rapiscan remains focused on helping customers enhance safety, improve operational efficiency, and create better experiences for people at scale. Rapiscan has helped secure major sporting events and critical infrastructure around the world, including deployments across Australia, Qatar, the United Kingdom, France, Italy, and, most recently, the United States.

"We are honored to be selected as an Official Supporter of the LA28 Olympic and Paralympic Games and proud that an LA-based company will help support an event that will showcase Los Angeles to the world. This partnership reflects the trust placed in Rapiscan's team, technologies, and decades of experience protecting major events and critical infrastructure. The LA28 Games represent an extraordinary opportunity to demonstrate how innovation, AI-enabled security hardware and software solutions, and operational excellence can help create a safe, seamless, and exceptional experience for athletes, spectators, volunteers, and communities. We look forward to working alongside LA28 to help deliver a Games experience worthy of this historic moment," said Ajay Mehra, President and Chief Executive Officer of OSI Systems.

"We are pleased to welcome Rapiscan as an Official Supporter of the LA28 Games," said Reynold Hoover, CEO of LA28. “ As an LA-based security technology hardware and software company with decades of experience securing major sporting events, Rapiscan is uniquely qualified to help support the complex security requirements of the Games. We look forward to working together as we prepare to welcome the world to Los Angeles in 2028."

ABOUT THE LA28 OLYMPIC AND PARALYMPIC GAMES

LA28 will bring the Olympic and Paralympic Games to Los Angeles in 2028, uniting more than 15,000 of the world's greatest athletes in a celebration of sport, culture, and human potential. Set against a diverse collection of venues only Southern California can deliver, from the Pacific Ocean to Hollywood stages to world-class arenas, Los Angeles will become the third city ever to host three Olympic Games, following 1932 and 1984, and will also host its first ever Paralympic Games. The LA28 Games will celebrate historic milestones including the most gender balanced Games in history, the first time all Olympic team sports will feature at least as many women's teams as men's, the debut of new Olympic and Paralympic sports, and becoming the first Games since 1948 to not build any new permanent infrastructure. Operating as an independently funded, non-profit organization, LA28 has built a strong foundation of successful commercial partnerships alongside licensing, hospitality, ticketing, and with the support of the International Olympic Committee.

ABOUT TEAM USA

Team USA is the world’s largest and most diverse team of athletes from across the United States who compete at the Olympic, Paralympic, Youth Olympic, Pan American and Parapan American Games. The United States Olympic & Paralympic Committee, founded in 1894, serves as the National Olympic Committee and National Paralympic Committee for the United States and is responsible for protecting, supporting, and empowering Team USA athletes. For more information, visit TeamUSA.com.

ABOUT RAPISCAN

Rapiscan is a global leader in security inspection and integrated security solutions. The company designs, deploys, integrates, and supports comprehensive security solutions that combine physical screening systems, access control technologies, command-and-control centers, security software, analytics, communications infrastructure, and operational services. Serving airports, borders, critical infrastructure, transportation systems, government agencies, and major international events worldwide, Rapiscan’s capabilities extend beyond technology to include program implementation, training, and sustainment, enabling customers to deploy coordinated security solutions at scale.

About OSI Systems

OSI Systems designs and manufactures specialized electronic systems and components for critical applications. The Company operates through multiple business segments in various industries. Through its Security division, led by Rapiscan Systems, a global provider of security inspection and screening solutions, and S2 Global, a provider of technology, services, and mission support solutions for border management, logistics, and government operations, the Company helps customers address complex security and operational challenges worldwide. Serving customers in over 170 countries, OSI Systems strategically positions its sales, service, R&D, and manufacturing capabilities worldwide to provide fast and efficient delivery and support. For more information on OSI Systems or any of its subsidiary companies, visit www.osi-systems.com. News Filter: OSIS-G

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements relate to OSI Systems’ and Rapiscan Systems’ current expectations, beliefs, and projections concerning matters that are not historical facts. Forward-looking statements are not guarantees of future performance and involve uncertainties, risks, assumptions, and contingencies, many of which are outside OSI Systems’ control and which may cause actual results to differ materially from those described in or implied by any forward-looking statements. Undue reliance should not be placed on forward-looking statements, which are based on currently available information and speak only as of the date on which they are made. OSI Systems assumes no obligation to update any forward-looking statement made in this press release that becomes untrue because of subsequent events, new information, or otherwise, except to the extent it is required to do so in connection with its ongoing requirements under Federal securities laws. For a further discussion of factors that could cause OSI Systems’ future results to differ materially from any forward-looking statements, see the section entitled "Risk Factors" in OSI Systems’ most recently filed Annual Report on Form 10-K and other risks described therein and in documents subsequently filed by OSI Systems from time to time with the Securities and Exchange Commission.

Rapiscan Named Official Physical Screening and Security Technology Hardware/Software Solutions Provider of the LA28 Olympic and Paralympic Games and Supporter of Team USA

John Slusher, CEO of U.S. Olympic and Paralympic Properties, and Ajay Mehra, President and CEO of OSI Systems

WASHINGTON (AP) — The national debt surpassed a record $40 trillion on Wednesday, a staggering milestone as defense costs, social programs like Social Security and Medicare and interest on the burgeoning deficit make up an enormous share of federal spending.

The milestone figure was recorded just five months after the U.S. hit a record $39 trillion debt in March. It reached $38 trillion five months before that, in October.

The unprecedented $40 trillion figure highlights competing administration priorities, from boosting defense spending that the U.S. relies on to carry out President Donald Trump's almost-6-month-old war in Iran to lowering the cost of gas and groceries.

Kush Desai, a White House spokesman, said the Trump administration “has been focused on slashing waste, fraud, and abuse in federal spending while accelerating economic growth to get America’s debt-to-GDP ratio trending in the right direction.”

However, experts say the exploding debt and the latest record milestone are already affecting Americans' pocketbooks by raising borrowing costs for things like mortgages and cars, lowering wages from businesses that have less money available to invest, and creating more expensive goods and services.

“If we want to improve our living standards, today and for the next generation, now is the time for lawmakers to put our nation on a more affordable and sustainable path," says Michael A. Peterson, CEO of the Peter G. Peterson Foundation, a think tank focused on U.S. fiscal challenges.

The debt has exploded over several presidential administrations, as the nation's leaders spend more money than it collects in taxes. In recent memory, the multi-year COVID-19 pandemic shut down much of the U.S. economy, where the federal government borrowed heavily during President Trump's first term and under former President Joe Biden to stabilize the economy and support a recovery.

More government spending was approved after Trump signed Republicans’ tax cut and spending legislation into law last year.

Advocates for a balanced budget also warn that the long-term trend of borrowing more and paying more in interest will force Americans to face tougher fiscal tradeoffs ahead.

"The federal debt is already raising the cost of living and choking out other spending and investment, threatening our economy and Americans’ long-term prosperity,” said Margaret Spellings, president and CEO of the Bipartisan Policy Center.

“Our current fiscal trajectory is plainly unsustainable, and that’s the best-case scenario. AI disruption, a recession, global war, or any number of other events could quickly push us over the edge from a challenge into a full-blown crisis," Spellings said in a statement.

The U.S. is subject to a statutory debt limit, or a limit to federal borrowing, which Congress has the authority to set, adjust or abolish. The Bipartisan Policy Center estimates that the U.S. will most likely reach the $41.1 trillion debt limit sometime between late winter and mid-summer of 2027, requiring Congress to again vote on whether to raise or suspend it.

The U.S.' fiscal position stands as the worst among other developed countries, according to recent data analysis from the Organization for Economic Co-operation and Development

Specialist Gregg Maloney works on the floor of the New York Stock Exchange, Friday, Aug. 7, 2026, in New York. (AP Photo/Yuki Iwamura)