EDUCATIONAL DEVELOPMENT CORP

( a) General Description of Business We are the owner and exclusive publisher of Kane Miller children’s books; Learning Wrap-Ups, maker of educational manipulatives; and SmartLab Toys, maker of STEAM-based toys and games. We are also the exclusive United States Multi-Level Marketing ( MLM ) distributor of Usborne Publishing Limited ( Usborne ) children’s books. We are a corporation incorporated under the laws of the State of Delaware on August 23, 1965. Our fiscal year ends on February 28 (29). Our Company vision statement reflects We believe that education is the catalyst for wonderment, kindness, and connection. Our vision is to empower the world by sparking a child’s natural curiosity and lifelong love of learning through products and experiences that meet at the intersection of education and play. Our Company mission statement reflects We are creating the story of tomorrow through people, products, and purpose. (b) Financial Information about Our Segments We sell children’s books, educational toys and games and other related products (collectively referred to as products or books ) through two business segments described below, which we refer to as divisions or sales channels: Direct Sales Division ( PaperPie ) This division sells our books and products through independent sales representatives ( Brand Partners ) direct to the customer. Our Brand Partners sell our products in various ways, including hosting home parties, through social media collaboration platforms on the internet, hosting book fairs with schools and public libraries and through other events.