Charles River Associates (CRA) Expands Its Forensic Services Practice

Company Adds Two Nationally-recognized Forensics Professionals as Vice Presidents

Charles River Associates (NASDAQ: CRAI), a worldwide leader in providing economic, financial and management consulting services, today announced that Jeffrey A. Garfield and Waqas Shahid have joined the company’s Forensic Services Practice as vice presidents.

“I’m excited to welcome Jeff and Waqas to CRA,” said Paul Maleh, CRA’s Chairman and Chief Executive Officer. “Both share the attributes that uniquely characterize our team of seasoned forensics professionals, including deep technical expertise, a passion for innovative thinking, and a commitment to quality in delivering unsurpassed client service.”

“Waqas and Jeff are widely recognized experts and are joining a team that is already ranked as one of the best in the world at helping companies develop scalable, data-driven solutions to prevent, detect, respond to, and emerge stronger from allegations of fraud, misconduct, and non-compliance, often in moments of crisis,” said Kristofer Swanson, CRA’s Forensic Services Practice Leader.

Jeffrey A. Garfield has almost 20 years of professional services and industry experience related to financial and fraud investigations, matters involving the U.S. Securities and Exchange Commission (SEC), bribery and corruption investigations, the U.S. Foreign Corrupt Practices Act (FCPA), forensic accounting, data analytics, and compliance program transformation.

Mr. Garfield has led numerous large-scale, compliance-focused engagements and investigations across a wide range of industries and has worked especially closely with pharmaceutical, medical device, and life sciences clients. He has extensive international business experience from client work in over 30 countries.

Prior to joining CRA, Mr. Garfield was a partner with a Big 4 accounting firm where he focused on investigations and compliance program transformation services. He holds a Bachelor of Science degree in finance from Indiana University.

Waqas Shahid leverages his expertise in consulting, technology, and in-house and private legal practice to address complex regulatory, compliance, and operational problems for clients. Mr. Shahid is a recognized subject matter expert and thought leader regarding U.S. technology export controls, foreign direct investment and the Committee on Foreign Investment in the United States (CFIUS), economic sanctions, supply chain security, and data security. His practice focuses on providing proactive (e.g., advisory, compliance program design, and enhancement); reactive (e.g., investigations, remediation support); third-party assurance (e.g., audits and monitorships pursuant to national security mitigation and consent agreements); and technology services to companies operating in highly regulated sectors, as well as those facing regulatory and enforcement scrutiny.

Prior to joining CRA, he was the co-founder and senior managing director of the National Security, Trade, & Technology Practice of an international consulting firm. He holds a Bachelor of Science degree in computer science and physics with High Distinction from the University of Virginia, and a Juris Doctor cum laude from the Georgetown University Law Center. He is a member of the bars of the Commonwealth of Virginia (inactive) and the District of Columbia, and is a Certified Information Privacy Professional (CIPP/US).

About CRA’s Forensic Services Practice

CRA’s Forensic Services Practice assists clients by independently responding to allegations of fraud, abuse, cybercrime, misconduct, and non-compliance, deploying cross-trained teams of experienced forensic professionals to deliver deep and timely insights. The Practice—including its state-of-the art digital forensics, eDiscovery, and cyber incident response labs—has been certified under International Organization for Standardization (ISO) 27001:2013 requirements as part of its industry-leading commitment to clients and their information security.

About Charles River Associates (CRA)

Charles River Associates® is a leading global consulting firm specializing in economic, financial, and management consulting services. CRA advises clients on economic and financial matters pertaining to litigation and regulatory proceedings, and guides corporations through critical business strategy and performance-related issues. Since 1965, clients have engaged CRA for its unique combination of functional expertise and industry knowledge, and for its objective solutions to complex problems. Headquartered in Boston, CRA has offices throughout the world. Detailed information about Charles River Associates, a registered trade name of CRA International, Inc., is available at www.crai.com. Follow us on LinkedIn, Twitter, and Facebook.

SAFE HARBOR STATEMENT

Statements in this press release concerning the additions of Jeffrey A. Garfield and Waqas Shahid, CRA’s Forensic Services Practice, the expansion of the Forensic Services Practice, and any future business Jeffrey A. Garfield and Waqas Shahid may generate for CRA, are “forward-looking” statements as defined in the Private Securities Litigation Reform Act of 1995. These statements are based upon management’s current expectations and are subject to a number of factors and uncertainties. Information contained in these forward-looking statements is inherently uncertain, and actual performance and results may differ materially due to many important factors. Such factors that could cause actual performance or results to differ materially from any forward-looking statements made by CRA include, among others: the failure to generate engagements for us; the potential loss of clients; the demand environment; global economic conditions; foreign exchange rate fluctuations; and intense competition. Additional potential factors that could affect our financial results are included in our periodic filings with the Securities and Exchange Commission, including those under the heading “Risk Factors.” We cannot guarantee any future results, levels of activity, performance, or achievement. We undertake no obligation to update any forward-looking statements after the date of this press release, and we do not intend to do so.

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