Tranche Update on Tandy Leather Factory, Inc.'s Equity Buyback Plan announced on August 11, 2020.

Tandy Leather Factory, Inc. is a specialty retailer of leather and leathercraft-related items. The Company's product line includes leather, leatherworking tools, buckles and adornments for belts, leather dyes and finishes, saddle and tack hardware, and do-it-yourself kits. The Company also offers production services to its business customers such as cutting (clicking) and splitting and some assembly. It distributes product under the Tandy Leather, Eco-Flo, Craftool, CraftoolPro and Dr. Jackson's brands, along with its premium TandyPro line of products. It operates a production facility in Fort Worth, Texas. The Company sells its products through Company-owned stores and through orders generated from its global websites, and through direct account representatives in its commercial division. The Company distributes its products through its approximately 101 North American stores located in 40 states in the United States and six Canadian provinces, and one store located in Spain.