TAL Q3 2026 Earnings Report

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TAL InvestorRoom TAL Education Group Announces Unaudited Financial Results for the Third Fiscal Quarter Ended November 30, 2025 BEIJING, Jan. 29, 2026 /PRNewswire/ -- TAL Education Group (NYSE: TAL) ("TAL" or the "Company"), a smart learning solutions provider in China, today announced its unaudited ﬁnancial results for the third quarter of ﬁscal year 2026 ended November 30, 2025. Highlights for the Third Quarter of Fiscal Year 2026 - Net revenues were US$770.2 million, compared to net revenues of US$606.4 million in the same period of the prior year. - Income from operations was US$93.1 million, compared to loss from operations of US$17.4 million in the same period of the prior year. - Non-GAAP income from operations, which excluded share-based compensation expenses, was US$104.0 million, compared to non-GAAP loss from operations of US$1.9 million in the same period of the prior year. - Net income attributable to TAL was US$130.6 million, compared to net income attributable to TAL of US$23.1 million in the same period of the prior year. - Non-GAAP net income attributable to TAL, which excluded share-based compensation expenses, was US$141.4 million, compared to non-GAAP net income attributable to TAL of US$38.6 million in the same period of the prior year. - Basic and diluted net income per American Depositary Share ("ADS") were US$0.24 and US$0.23, respectively. Non-GAAP basic and diluted net income per ADS, which excluded share-based compensation expenses, were both US$0.25. Three ADSs represent one Class A common share. - Cash, cash equivalents and short-term investments totaled US$3,617.4 million as of November 30, 2025, compared to US$3,618.4 million as of February 28, 2025. Highlights for the Nine Months Ended November 30, 2025 - Net revenues were US$2,206.5 million, compared to net revenues of US$1,640.0 million in the same period of the prior year. - Income from operations was US$203.6 million, compared to income from operations of US$12.9 million in the same period of the prior year. - Non-GAAP income from operations, which excluded share-based compensation expenses, was US$236.9 million, compared to non-GAAP income from operations of US$63.5 million in the same period of the prior year. - Net income attributable to TAL was US$286.0 million, compared to net income attributable to TAL of US$91.9 million in the same period of the prior year. - Non-GAAP net income attributable to TAL, which excluded share-based compensation expenses, was US$319.3 million, compared to non-GAAP net income attributable to TAL of US$142.5 million in the same period of the prior year. - Basic and diluted net income per ADS were US$0.50 and US$0.49, respectively. Non-GAAP basic and diluted net income per ADS, which excluded share- based compensation expenses, were both US$0.55. Financial Data——Third Quarter and First Nine Months of Fiscal Year 2026 (In US$ thousands, except per ADS data and percentages) Three Months Ended November 30, 2024 2025 Pct. Change Net revenues 606,446 770,167 27.0 % (Loss)/Income from operations (17,432) 93,123 (634.2 %) Non-GAAP (loss)/income from operations (1,920)103,950 (5,514.1 %) Net income attributable to TAL 23,069 130,595 466.1 % Non-GAAP net income attributable to TAL 38,581 141,422 266.6 % Net income per ADS attributable to TAL – basic 0.04 0.24 517.6 % Net income per ADS attributable to TAL – diluted 0.04 0.23 518.7 % Non-GAAP net income per ADS attributable to TAL – basic 0.06 0.25 299.9 % Non-GAAP net income per ADS attributable to TAL – diluted 0.06 0.25 300.6 % Nine Months Ended November 30, 2024 2025 Pct. Change Net revenues 1,639,9942,206,519 34.5 % Income from operations 12,860 203,566 1,482.9 % Non-GAAP income from operations 63,476 236,908 273.2 % Net income attributable to TAL 91,902 285,961 211.2 % Non-GAAP net income attributable to TAL 142,518 319,303 124.0 % Net income per ADS attributable to TAL – basic 0.15 0.50 226.4 % Net income per ADS attributable to TAL – diluted 0.15 0.49 227.3 % Non-GAAP net income per ADS attributable to TAL – basic 0.24 0.55 135.0 % Non-GAAP net income per ADS attributable to TAL – diluted 0.23 0.55 135.7 % "In the third quarter of ﬁscal year 2026, our net revenues continued their steady growth trajectory. We remain focused on integrating technology into learning experiences and are dedicated to enhancing our content, products, and services to support students' holistic development." said Alex Peng, TAL's President and Chief Financial Ofﬁcer. Mr. Peng added, "We will continue to drive forward our strategic initiatives and dynamically allocate resources to build competitive advantages and generate value for our users and society."

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Financial Results for the Third Quarter of Fiscal Year 2026 Net Revenues In the third quarter of ﬁscal year 2026, TAL reported net revenues of US$770.2 million, representing a 27.0% increase from US$606.4 million in the third quarter of ﬁscal year 2025. Operating Costs and Expenses In the third quarter of ﬁscal year 2026, operating costs and expenses were US$677.0 million, representing an 8.5% increase from US$623.9 million in the third quarter of ﬁscal year 2025. Non-GAAP operating costs and expenses, which excluded share-based compensation expenses, were US$666.2 million, representing a 9.5% increase from US$608.4 million in the third quarter of ﬁscal year 2025. Cost of revenues increased by 18.0% to US$338.4 million from US$286.7 million in the third quarter of ﬁscal year 2025. Non-GAAP cost of revenues, which excluded share-based compensation expenses, increased by 18.4% to US$338.0 million, from US$285.4 million in the third quarter of ﬁscal year 2025. Selling and marketing expenses decreased by 2.8% to US$220.1 million from US$226.4 million in the third quarter of ﬁscal year 2025. Non-GAAP selling and marketing expenses, which excluded share-based compensation expenses, decreased by 2.1% to US$217.6 million, from US$222.4 million in the third quarter of ﬁscal year 2025. General and administrative expenses increased by 7.1% to US$118.6 million from US$110.7 million in the third quarter of ﬁscal year 2025. Non-GAAP general and administrative expenses, which excluded share-based compensation expenses, increased by 10.0% to US$110.7 million, from US$100.6 million in the third quarter of ﬁscal year 2025. Total share-based compensation expenses allocated to the related operating costs and expenses decreased by 30.2% to US$10.8 million in the third quarter of ﬁscal year 2026 from US$15.5 million in the same period of ﬁscal year 2025. Gross Proﬁt Gross proﬁt increased by 35.0% to US$431.8 million from US$319.8 million in the third quarter of ﬁscal year 2025. The gross margin for the third quarter of ﬁscal year 2026 was 56.1%, compared to 52.7% in the same period of the prior year. (Loss)/Income from Operations Income from operations was US$93.1 million in the third quarter of ﬁscal year 2026, compared to loss from operations of US$17.4 million in the third quarter of ﬁscal year 2025. Non-GAAP income from operations, which excluded share-based compensation expenses, was US$104.0 million, compared to Non-GAAP loss from operations of US$1.9 million in the same period of the prior year. Other Income Other income was US$38.6 million for the third quarter of ﬁscal year 2026, compared to other income of US$18.2 million in the third quarter of ﬁscal year 2025. Income Tax Beneﬁt/(Expense) Income tax expense was US$15.3 million in the third quarter of ﬁscal year 2026, compared to US$3.6 million of income tax beneﬁt in the third quarter of ﬁscal year 2025. Net Income attributable to TAL Education Group Net income attributable to TAL was US$130.6 million in the third quarter of ﬁscal year 2026, compared to net income attributable to TAL of US$23.1 million in the third quarter of ﬁscal year 2025. Non-GAAP net income attributable to TAL, which excluded share-based compensation expenses, was US$141.4 million, compared to Non-GAAP net income attributable to TAL of US$38.6 million in the third quarter of ﬁscal year 2025. Basic and Diluted Net Income per ADS Basic and diluted net income per ADS were US$0.24 and US$0.23, respectively, in the third quarter of ﬁscal year 2026. Non-GAAP basic and diluted net income per ADS, which excluded share-based compensation expenses, were both US$0.25 in the third quarter of ﬁscal year 2026. Cash Flow Net cash provided by operating activities for the third quarter of ﬁscal year 2026 was US$526.7 million. Cash, Cash Equivalents, and Short-Term Investments As of November 30, 2025, the Company had US$2,146.3 million of cash and cash equivalents and US$1,471.1 million of short-term investments, compared to US$1,771.3 million of cash and cash equivalents and US$1,847.1 million of short-term investments as of February 28, 2025. Deferred Revenue As of November 30, 2025, the Company's deferred revenue balance was US$1,162.8 million, compared to US$671.2 million as of February 28, 2025. Financial Results for the First Nine Months of Fiscal Year 2026 Net Revenues For the ﬁrst nine months of ﬁscal year 2026, TAL reported net revenues of US$2,206.5 million, representing a 34.5% increase from US$1,640.0 million in the ﬁrst nine months of ﬁscal year 2025. Operating Costs and Expenses In the ﬁrst nine months of ﬁscal year 2026, operating costs and expenses were US$2,003.0 million, representing a 23.1% increase from US$1,627.1 million in the ﬁrst nine months of ﬁscal year 2025. Non-GAAP operating costs and expenses, which excluded share-based compensation expenses, were US$1,969.6 million, representing a 24.9% increase from US$1,576.5 million in the ﬁrst nine months of ﬁscal year 2025. Cost of revenues increased by 27.9% to US$968.3 million from US$757.3 million in the ﬁrst nine months of ﬁscal year 2025. Non-GAAP cost of revenues, which excluded share-based compensation expenses, increased by 28.6% to US$966.8 million from US$751.9 million in the ﬁrst nine months of ﬁscal year

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2025. Selling and marketing expenses increased by 25.9% to US$668.1 million from US$530.8 million in the ﬁrst nine months of ﬁscal year 2025. Non-GAAP selling and marketing expenses, which excluded share-based compensation expenses, increased by 27.3% to US$659.7 million from US$518.4 million in the ﬁrst nine months of ﬁscal year 2025. General and administrative expenses increased by 8.1% to US$366.6 million from US$339.0 million in the ﬁrst nine months of ﬁscal year 2025. Non-GAAP general and administrative expenses, which excluded share-based compensation expenses, increased by 12.1% to US$343.2 million from US$306.3 million in the ﬁrst nine months of ﬁscal year 2025. Total share-based compensation expenses allocated to the related operating costs and expenses decreased by 34.1% to US$33.3 million in the ﬁrst nine months of ﬁscal year 2026 from US$50.6 million in the same period of ﬁscal year 2025. Gross Proﬁt Gross proﬁt increased by 40.3% to US$1,238.2 million from US$882.7 million in the ﬁrst nine months of ﬁscal year 2025. The gross margin for the ﬁrst nine months of ﬁscal year 2026 was 56.1%, compared to 53.8% in the same period of the prior year. (Loss)/Income from Operations Income from operations was US$203.6 million in the ﬁrst nine months of ﬁscal year 2026, compared to income from operations of US$12.9 million in the same period of the prior year. Non-GAAP income from operations, which excluded share-based compensation expenses, was US$236.9 million, compared to US$63.5 million Non-GAAP income from operations in the same period of the prior year. Other Income Other income was US$115.1 million for the ﬁrst nine months of ﬁscal year 2026, compared to other income of US$51.8 million in the same period of the prior year. Impairment Loss on Long-term Investments Impairment loss on long-term investments was US$1.4 million for the ﬁrst nine months of ﬁscal year 2026, compared to US$8.7 million for the ﬁrst nine months of ﬁscal year 2025. Income Tax Beneﬁt/(Expense) Income tax expense was US$77.5 million in the ﬁrst nine months of ﬁscal year 2026, compared to US$24.3 million of income tax expense in the ﬁrst nine months of ﬁscal year 2025. Net Income Attributable to TAL Education Group Net income attributable to TAL was US$286.0 million in the ﬁrst nine months of ﬁscal year 2026, compared to net income attributable to TAL of US$91.9 million in the ﬁrst nine months of ﬁscal year 2025. Non-GAAP net income attributable to TAL, which excluded share-based compensation expenses, was US$319.3 million, compared to US$142.5 million Non-GAAP net income attributable to TAL in the same period of the prior year. Basic and Diluted Net Income per ADS Basic and diluted net income per ADS were US$0.50 and US$0.49, respectively, in the ﬁrst nine months of ﬁscal year 2026. Non-GAAP basic and diluted net income per ADS, which excluded share-based compensation expenses, were both US$0.55, in the ﬁrst nine months of ﬁscal year 2026. Cash Flow Net cash provided by operating activities for the ﬁrst nine months of ﬁscal year 2026 was US$816.4 million. Share Repurchase On July 28, 2025, TAL's board of directors authorized a new share repurchase program under which the Company may repurchase up to US$600 million of the Company's common shares over the next 12 months. Between October 30, 2025 and January 28, 2026, the Company has repurchased 844,856 common shares at an aggregate consideration of approximately US$27.7 million. Conference Call The Company will host a conference call and live webcast to discuss its ﬁnancial results for the third ﬁscal quarter of ﬁscal year 2026 ended November 30, 2025 at 7:00 a.m. Eastern Time on January 29, 2026 (8:00 p.m. Beijing time on January 29, 2026). Please note that you will need to pre-register for conference call participation at https://dpregister.com/sreg/10205339/102f9a80ea5. Upon registration, you will receive an email containing participant dial-in numbers, passcode, and a unique access PIN. This information will allow you to gain immediate access to the call. Participants may pre-register at any time, including up to and after the call start time. A live and archived webcast of the conference call will be available on the Investor Relations section of TAL's website at https://ir.100tal.com/. Safe Harbor Statement This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identiﬁed by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, TAL Education Group's strategic and operational plans contain forward-looking statements. The Company may also make written or oral forward-looking statements in its reports ﬁled with, or furnished to, the U.S. Securities and Exchange Commission, in its annual reports to shareholders, in press releases and other written materials and in oral statements made by its ofﬁcers, directors or employees to third parties. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. Forward- looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company's ability to continue to provide competitive learning services and products; the Company's ability to continue to recruit, train and retain talents; the Company's ability to improve the content of current course offerings and develop new courses; the Company's ability to maintain and enhance its brand; the Company's ability to maintain and continue to improve its teaching results; and the Company's ability to compete effectively against its competitors. Further information regarding these and other risks is included in the Company's reports ﬁled with, or furnished to the U.S. Securities and Exchange Commission. All information provided in this press release and in the attachments is as of the date of this

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press release, and TAL Education Group undertakes no duty to update such information or any forward-looking statement, except as required under applicable law. About TAL Education Group TAL Education Group is a smart learning solutions provider in China. The acronym "TAL" stands for "Tomorrow Advancing Life", which reﬂects our vision to promote top learning opportunities for students through both high-quality teaching and content, as well as leading edge application of technology in the education experience. TAL Education Group offers comprehensive learning solutions to students from all ages through diversiﬁed class formats. Our learning solutions mainly cover enrichment learnings programs and some academic subjects in and out of China. Our ADSs trade on the New York Stock Exchange under the symbol "TAL". About Non-GAAP Financial Measures In evaluating its business, TAL considers and uses the following measures deﬁned as non-GAAP ﬁnancial measures by the SEC as supplemental metrics to review and assess its operating performance: non-GAAP cost of revenues, non-GAAP selling and marketing expenses, non-GAAP general and administrative expenses, non-GAAP operating costs and expenses, non-GAAP income from operations, non-GAAP net income attributable to TAL, non-GAAP basic and non- GAAP diluted net income per ADS. To present each of these non-GAAP measures, the Company excludes share-based compensation expenses. The presentation of these non-GAAP ﬁnancial measures is not intended to be considered in isolation or as a substitute for the ﬁnancial information prepared and presented in accordance with GAAP. For more information on these non-GAAP ﬁnancial measures, please see the table captioned "Reconciliations of non- GAAP measures to the most comparable GAAP measures" set forth at the end of this release. TAL believes that these non-GAAP ﬁnancial measures provide meaningful supplemental information regarding its performance and liquidity by excluding share-based compensation expenses that may not be indicative of its operating performance from a cash perspective. TAL believes that both management and investors beneﬁt from these non-GAAP ﬁnancial measures in assessing its performance and when planning and forecasting future periods. These non-GAAP ﬁnancial measures also facilitate management's internal comparisons to TAL's historical performance and liquidity. TAL computes its non-GAAP ﬁnancial measures using the same consistent method from quarter to quarter and from period to period. TAL believes these non-GAAP ﬁnancial measures are useful to investors in allowing for greater transparency with respect to supplemental information used by management in its ﬁnancial and operational decision making. A limitation of using non-GAAP measures is that these non-GAAP measures exclude share-based compensation charges that have been and will continue to be for the foreseeable future a signiﬁcant recurring expense in the Company's business. Management compensates for these limitations by providing speciﬁc information regarding the GAAP amounts excluded from each non-GAAP measure. The accompanying tables have more details on the reconciliations between GAAP ﬁnancial measures that are most directly comparable to non-GAAP ﬁnancial measures. For further information, please contact: Jackson Ding Investor Relations TAL Education Group Tel: +86 10 5292 6669-8809 Email: ir@tal.com TAL EDUCATION GROUP UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands of U.S. dollars) As of February 28, 2025 As of November 30, 2025 ASSETS Current assets Cash and cash equivalents $ 1,771,260 $ 2,146,309 Restricted cash, current 187,846 305,144 Short-term investments 1,847,120 1,471,116 Inventory, net 104,876 136,952 Amounts due from related parties, current 37 25 Prepaid expenses and other current assets 215,781 252,069 Total current assets 4,126,920 4,311,615 Restricted cash, non-current 32,625 34,148 Property and equipment, net 472,366 495,202 Deferred tax assets 3,487 1,469 Rental deposits 22,131 25,668 Intangible assets, net 394 47,169 Goodwill 155 45,705 Land use rights, net 182,880 185,012 Amounts due from related parties, non-current 96 99 Long-term investments 305,105 371,948 Long-term prepayments and other non-current assets27,844 30,744 Operating lease right-of-use assets 329,064 370,809 Total assets $ 5,503,067 $ 5,919,588 LIABILITIES AND EQUITY Current liabilities Accounts payable $ 146,300 $ 161,086 Deferred revenue, current 624,272 1,110,709 Amounts due to related parties, current 93 89 Accrued expenses and other current liabilities582,227 705,754 Operating lease liabilities, current 88,453 104,318

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Total current liabilities 1,441,345 2,081,956 Deferred revenue, non-current 46,955 52,051 Deferred tax liabilities 3,474 13,907 Operating lease liabilities, non-current 244,895 273,036 Total liabilities 1,736,669 2,420,950 Equity Class A common shares 154 156 Class B common shares 49 49 Treasury stock - (20) Additional paid-in capital 4,294,819 3,703,604 Statutory reserve 179,537 175,957 Accumulated deﬁcit (624,078) (334,537) Accumulated other comprehensive loss (83,914) (46,207) Total TAL Education Group's equity 3,766,567 3,499,002 Non-controlling interests (169) (364) Total equity 3,766,398 3,498,638 Total liabilities and equity $ 5,503,067 $ 5,919,588 TAL EDUCATION GROUP UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands of U.S. dollars, except share, ADS, per share and per ADS data) For the Three Months Ended November 30, For the Nine Months Ended November 30, 2024 2025 2024 2025 Net revenues $ 606,446 $ 770,167 $ 1,639,994 $ 2,206,519 Cost of revenues (note 1) 286,689 338,361 757,329 968,272 Gross proﬁt 319,757 431,806 882,665 1,238,247 Operating expenses (note 1) Selling and marketing 226,441 220,063 530,769 668,122 General and administrative(note 2) 110,748 118,620 339,036 366,559 Total operating expenses 337,189 338,683 869,805 1,034,681 (Loss)/income from operations (17,432) 93,123 12,860 203,566 Interest income, net 21,491 14,330 64,410 47,213 Other income 18,150 38,591 51,767 115,139 Impairment loss on long-term investments - - (8,692) (1,410) Income before income tax beneﬁt/(expense) and loss from equity method investments 22,209 146,044 120,345 364,508 Income tax beneﬁt/(expense) 3,582 (15,307) (24,348) (77,465) Loss from equity method investments (2,765) (221) (4,337) (1,295) Net income 23,026 130,516 91,660 285,748 Add: Net loss attributable to noncontrolling interests 43 79 242 213 Total net income attributable to TAL Education Group $ 23,069 $ 130,595 $ 91,902 $ 285,961 Net income per common share Basic $ 0.11 $ 0.71 $ 0.46 $ 1.49 Diluted 0.11 0.70 0.45 1.47 Net income per ADS (note 3) Basic $ 0.04 $ 0.24 $ 0.15 $ 0.50 Diluted 0.04 0.23 0.15 0.49 Weighted average shares used in calculating net income per common share Basic 201,905,486 185,057,275201,746,602192,315,752 Diluted 204,949,612 187,521,021205,093,389194,991,739 Note1: Share-based compensation expenses are included in the operating costs and expenses as follows: For the Three Months Ended November 30, For the Nine Months Ended November 30, 2024 2025 2024 2025 Cost of revenues $ 1,271 $ 387 $ 5,426 $ 1,512 Selling and marketing expenses 4,082 2,477 12,410 8,453 General and administrative expenses 10,159 7,963 32,780 23,377 Total $ 15,512 $ 10,827 $ 50,616 $ 33,342 Note 2: GAAP and non-GAAP general and administrative expenses include government subsidies, which were separately presented in our historical ﬁnancial statements. This reclassiﬁcation has been made to conform to the presentation for the current period, and such reclassiﬁcation had no impact on the Group's previously reported (loss)/income from operations, net income, shareholders' equity, or cash ﬂows. Note 3: Three ADSs represent one Class A common Share.

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TAL EDUCATION GROUP UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS)/INCOME (In thousands of U.S. dollars) For the Three Months Ended November 30, For the Nine Months Ended November 30, 2024 2025 2024 2025 Net income $ 23,026 $ 130,516 $ 91,660 $ 285,748 Other comprehensive (loss)/income, net of tax (21,512) 10,383 (4,348) 37,725 Comprehensive income 1,514 140,899 87,312 323,473 Add: Comprehensive (income)/loss attributable to noncontrolling interests(2,308) 75 25 195 Comprehensive (loss)/income attributable to TAL Education Group $ (794) $ 140,974 $ 87,337 $ 323,668 TAL EDUCATION GROUP UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands of U.S. dollars) For the Three Months Ended November 30, For the Nine Months Ended November 30, 2024 2025 2024 2025 Net cash provided by operating activities $ 378,038 $ 526,742 $ 624,255 $ 816,432 Net cash (used in)/provided by investing activities (214,435) 264,177 (532,739) 300,199 Net cash provided by/(used in) ﬁnancing activities 48,731 (88,586) 41,937 (624,575) Effect of exchange rate changes (4,834) 1,859 (2,475) 1,814 Net increase in cash, cash equivalents and restricted cash 207,500 704,192 130,978 493,870 Cash, cash equivalents and restricted cash at the beginning of period2,380,954 1,781,409 2,457,476 1,991,731 Cash, cash equivalents and restricted cash at the end of period$ 2,588,454 $ 2,485,601 $ 2,588,454 $ 2,485,601 TAL EDUCATION GROUP Reconciliation of Non-GAAP Measures to the Most Comparable GAAP Measures (In thousands of U.S. dollars, except share, ADS, per share and per ADS data) For the Three Months Ended November 30, For the Nine Months Ended November 30, 2024 2025 2024 2025 Cost of revenues $ 286,689 $ 338,361 $ 757,329 $ 968,272 Share-based compensation expense in cost of revenues 1,271 387 5,426 1,512 Non-GAAP cost of revenues 285,418 337,974 751,903 966,760 Selling and marketing expenses 226,441 220,063 530,769 668,122 Share-based compensation expense in selling and marketing expenses4,082 2,477 12,410 8,453 Non-GAAP selling and marketing expenses 222,359 217,586 518,359 659,669 General and administrative expenses(note 2) 110,748 118,620 339,036 366,559 Share-based compensation expense in general and administrative expenses10,159 7,963 32,780 23,377 Non-GAAP general and administrative expenses(note 2) 100,589 110,657 306,256 343,182 Operating costs and expenses 623,878 677,044 1,627,134 2,002,953 Share-based compensation expense in operating costs and expenses15,512 10,827 50,616 33,342 Non-GAAP operating costs and expenses 608,366 666,217 1,576,518 1,969,611 (Loss)/income from operations (17,432) 93,123 12,860 203,566 Share based compensation expenses 15,512 10,827 50,616 33,342 Non-GAAP (loss)/income from operations (1,920) 103,950 63,476 236,908 Net income attributable to TAL Education Group 23,069 130,595 91,902 285,961 Share based compensation expenses 15,512 10,827 50,616 33,342 Non-GAAP net income attributable to TAL Education Group (note 4) $ 38,581 $ 141,422 $ 142,518 $ 319,303 Net income per ADS Basic $ 0.04 $ 0.24 $ 0.15 $ 0.50 Diluted 0.04 0.23 0.15 0.49 Non-GAAP net income per ADS Basic $ 0.06 $ 0.25 $ 0.24 $ 0.55 Diluted 0.06 0.25 0.23 0.55 ADSs used in calculating net income per ADS Basic 605,716,458555,171,825605,239,806576,947,256

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Diluted 614,848,836562,563,063615,280,167584,975,217 ADSs used in calculating Non-GAAP net income per ADS Basic 605,716,458555,171,825605,239,806576,947,256 Diluted 614,848,836562,563,063615,280,167584,975,217 Note 4: The tax effect of share-based compensation expenses was immaterial in the third quarter and in the ﬁrst nine months of ﬁscal year 2026. SOURCE TAL Education Group https://ir.100tal.com/2026-01-29-TAL-Education-Group-Announces-Unaudited-Financial-Results-for-the-Third-Fiscal-Quarter-Ended-November-30,-2025

Earnings release