Scholastic Corporation (the "Company" or "Scholastic") (NASDAQ: SCHL), the global children's publishing, education and media company, announced today the commencement of a modified "Dutch Auction" tender offer to purchase up to $200 million of its common stock at a price not less than $36.00 per share or more than $40.00 per share to the seller in cash, less any applicable withholding taxes and without interest. The number of shares proposed to be purchased in the tender offer (at a minimum purchase price of $36.00 per share) represents approximately 25% of Scholastic's currently outstanding common stock. The closing price per share of Scholastic's common stock on the Nasdaq Stock Market on Friday, March 20, 2026, the last full trading day prior to the commencement of the tender offer, was $37.25 per share. The tender offer is being made in accordance with the terms and subject to the conditions described in the offer to purchase, the related letter of transmittal and other related tender offer materials, as each may be amended or supplemented from time to time.