CULP INC

As used in this document, the terms Culp, the company, we, our, and us refer to Culp, Inc. and its consolidated subsidiaries (unless the context indicates another meaning). The term common stock means the common stock of Culp, Inc., par value $.05 per share. The terms Read Window Products and Read refer to our wholly-owned subsidiary, Read Window Products, LLC. Overview Culp is one of the largest marketers of mattress fabrics for bedding and upholstery fabrics for residential, commercial, and hospitality furniture and other applications in North America. The company markets a variety of fabrics to its global customer base of leading bedding and furniture companies, including fabrics produced at Culp's manufacturing facilities and fabrics sourced through other suppliers. The company competes in a business driven by fashion and product performance, and we strive to differentiate ourselves by placing a sustained focus on creativity and product innovation. In addition, we place great emphasis on providing excellent and dependable service to our customers as well as a supply chain that provides customers with sourcing optionality across a variety of jurisdictions. Our focused efforts to protect our financial strength and manufacturing flexibility have allowed us to maintain our position as a stable and trusted supplier of innovative fabrics to bedding and furniture manufacturers.