On May 29, 2020 the Board of Directors of Educational Development Corporation unanimously approved adding Mr. Joshua J. Peters to the Company's Board of Directors. Mr. Peters currently serves as Chief Investment Officer and Principal of Zenith Sterling Advisors LLC. Mr. Peters qualifies as a financial expert under the guidelines published by the Securities and Exchange Commission and, along with the remaining independent directors, is expected to serve on the Audit, Compensation and Governance Committees. Mr. Peters is being added as a Class I Director and will be included in the 2020 Proxy Statement ballot.