On December 21, 2023, Educational Development Corporation (the ?Company?) executed the Fourth Amendment to the Existing Credit Agreement (?Amendment?) with BOKF, NA (the ?Lender?). The Amendment, effective December 1, 2023, increases the Revolving Loan commitment to $8,000,000 and extends the maturity date to May 31, 2024. The amendment also allows the Company to execute additional purchase orders, subject to the lenders approval, not to exceed $2,100,000 between December 1, 2023 and March 31, 2024.

Other terms in the Amendment include the Company?s previously announced plans to sell the Company?s headquarters and distribution warehouse located at 5400-5402 South 122nd East Avenue, Tulsa, Oklahoma 74146 (the ?Hilti Complex?). The Hilti Complex consists of multiple buildings totaling 402,255 square feet of rentable office and warehouse space on 34-acres. In addition, the amendment includes the requirement, should an offer on the Hilti Complex not be received by March 31, 2023, or a later date at the Lender?s option, to sell the excess land adjacent to the Hilti Complex, consisting of approximately 17 acres.