Contact: Alex Wladich, awladich@scholastic.com, 212-965-7353

The Company's Offerings Aim to Increase Book Access, Help Social-Emotional Needs, and Build Skills; Resources Can Support In-Person, At-Home, or Hybrid Learning

On Monday, March 22, 2021, with the full support of Dav Pilkey, Scholastic halted distribution of the 2010 book The Adventures of Ook and Gluk. Together, we recognize that this book perpetuates passive racism. We are deeply sorry for this serious mistake. Scholastic has removed the book from our websites, stopped fulfillment of any orders (domestically or abroad), contacted our retail partners to explain why this book is no longer available, and sought a return of all inventory.

 Improvement in Seasonal Operating Loss Driven by Cost Reductions

 New York – March 17, 2021 – Scholastic Corporation (NASDAQ: SCHL) is pleased to announce that its Board of Directors today declared a quarterly cash dividend of $0.15 per share on the Company’s Class A and Common Stock for the fourth quarter of fiscal 2021.  The dividend is payable on June 15, 2021 to all shareholders of record as of the close of business on April 30, 2021.