Average Time to Deliver Across Postal Network Steady at 2.5 Days

Further to our January announcement, Pearson PLC announces an agreement to sell a 22% stake in the Penguin Random House Venture to our partner Bertelsmann SE & Co KGaA and recapitalise the business. The transaction is in line with our strategy and allows us to generate net proceeds of approximately $1 billion, strengthen our balance sheet, return £300m of surplus capital to shareholders via a share buyback and maintain a significant income stream from an ongoing 25% stake in the world’s leading consumer publisher. This transaction values the Penguin Random House Venture at an enterprise value of $3.55 billion. The formation of PRH in 2013 created the first truly global consumer book publishing company, with a significant market share lead over its nearest competitors. Over the last four years PRH has enjoyed significant creative and commercial success and delivered more than $150m in annualised integration benefits, increasing profit and margins and creating significant value for both partners. Click Read More below for additional detail.

*Revenue and Operating Profit Grew Across All Four Divisions *Diluted EPS Increased 46% to $3.28; Adjusted Diluted EPS Increased 40% to $3.40 *Operating Profit Margin Improved 920 Basis Points to 56.9% *Adjusted Operating Profit Margin Improved 740 Basis Points to 58.7% *Several New Products Launched During the Quarter

The U.S. may be reopening, but Shutterfly, the personalized products company, wants the gratitude for essential workers to keep on flowing. It’s featuring children’s thank-you drawings in out-of-home installations in a new campaign, kicking off in New York City’s Times Square and Grand Central Station. Throughout the pandemic, Shutterfly has been encouraging users to make messages of gratitude with its “Create Thanks” campaign. People all over the U.S. have been touched by kids’ homemade “Thank you, essential workers” messages. Besides taping the drawings up in living room windows, making sidewalk chalk drawings or tacking them up on front porches, many uploaded their handiwork to the company's content hub, says Jim Hilt, president of Shutterfly’s consumer products divisions.