Skillful Craftsman To Acquire Controlling Interest Of Major Flexible Staffing Platform In Jiangsu Province To Expand Online Business Presence Domestically

Skillful Craftsman Education Technology Ltd. (the "Company") (NASDAQ: EDTK), an education technology company providing interactive online learning services, announced that on January 28, 2022 the Company entered into an equity transfer agreement (the "Agreement") with certain shareholders of Wuxi Talent Home Information Technology Co., Ltd. ("WTH"), one of the largest flexible staffing platforms in Jiangsu Province, to acquire 60% equity interest of WTH. Pursuant to the Agreement, the Company agrees acquire the equity interest of WTH for a consideration consisting of RMB15 million (approximately US$2.36 million) in cash and 791,667 newly issued ordinary shares of the Company. This acquisition is expected to expand the Company's online business presence and vocational training business, and provide the Company with a strong foothold in the regional flexible staffing market. The transaction has been unanimously approved by the Company's board of directors and is expected to close by February 28, 2022.