PARCHMENT INTRODUCES LEARNER-CENTERED DIPLOMA SOLUTION FOR K-12 SCHOOLS AND DISTRICTS TO MEET THE NEEDS OF A DIGITAL WORLD

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Feb 27, 2024, 11:00 ET

Parchment Diploma Services Enhances Student Mobility With Print and Digital High School Diplomas

SALT LAKE CITY, Feb. 27, 2024 /PRNewswire/ -- Today Parchment, an Instructure company, the leader in academic credentials management, announced the first and only print and digital diploma solution for K-12. Parchment Diploma Services makes it easy for schools, districts, and state agencies to give their students a traditional graduation experience while communicating their achievements in today's world with a digital, shareable, and verifiable diploma.

In the rapidly changing landscape of education and employment pathways, the ability to showcase and digitally verify what a student has learned in high school plays a pivotal role in helping students transition into their post-high school future. The traditional paper-only high school diploma fails to communicate a student's accomplishments in a digitally-oriented professional world. Parchment Diploma Services offers a solution that exceeds the needs of a traditional graduation ceremony with both a print and digital diploma. Digital diplomas are an immediately accessible proof of achievement that can be shared both socially and professionally, empowering graduates to put their credentials to use. With Parchment Diploma Services, learners can access their diplomas in the most widely adopted life-long credential profile, alongside their high school transcripts and future credentials from higher education institutions and employers.

Parchment's Diploma Services for K-12 offer numerous benefits for students, administrators, schools, and districts:

For students:

Access a digital diploma to share with prospective employers, as a part of their growing professional profile, or with any third party
Receive a high-quality, print diploma to display
Access Parchment's lifelong Credential Profile, where the diploma, high school transcript, and future verifiable credentials are stored

For school/districts:

Best-in-class print diplomas with custom school, district, and state branding
Increased visibility and improved diploma management workflow, including a history of diplomas issued within the Parchment Award platform
Quickly produce replacement diplomas with additionally supplied branded diploma paper
Create a memorable graduation experience for on-campus and remote graduates alike

"Our Diploma Services solution for K-12 offers a way to reduce the administrative burden associated with print diplomas, while creating new ways for K-12 to help their students step into the next stage of their lives," said Jason Weaver, Vice President, Parchment Product and Technology at Instructure. "Parchment Award gives schools a single place to easily manage print and digital diplomas, transcripts, certificates, digital badges, and dual enrollments, through a digital experience that meets the expectations of their staff, students, and parents."

Parchment Diploma Services is available today. For more information, visit http://parchment.com.

About Instructure

Instructure (NYSE: INST) is an education technology company dedicated to elevating student success, amplifying the power of teaching, and inspiring everyone to learn together. Today the Instructure Learning Ecosystem, comprised of its flagship product Canvas LMS and several products serving K-12 and higher education, supports tens of millions of educators and students around the world. Learn more at www.instructure.com.

Parchment, an Instructure company, believes credentials matter in the lifelong journey of a learner. Offering the most comprehensive academic credential management platform and network, Parchment helps learners, academic institutions and employers request, verify and share transcripts, diplomas, and other credentials in simple and secure ways. Learn more at www.parchment.com.

Forward-looking Statements

This press release contains "forward-looking" statements, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding expectations and benefits of the acquisition of Parchment, the combined company's growth, customer demand and application adoption, and business strategy.

These statements are not guarantees of future performance, but are based on management's expectations as of the date of this press release and assumptions that are inherently subject to uncertainties, risks and changes in circumstances that are difficult to predict. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements. Important factors that could cause actual results to differ materially from those expressed or implied by these forward-looking statements include the following: the ability to timely and successfully achieve the anticipated benefits and potential synergies of the acquisition of Parchment; the impact of the announcement of the closing of the transaction on our business, employees and suppliers, and on our investors and common stock; risks associated with the continued economic uncertainty, including high inflation, labor shortages, high interest rates, foreign currency exchange volatility, and reduced spending by customers; failure to continue our recent growth rates; the impact of the Israel-Hamas war on the macroeconomic and geopolitical environment and on our business; risks associated with future stimulus packages approved by the U.S. federal government; our ability to acquire new customers and successfully retain existing customers; the effects of increased usage of, or interruptions or performance problems associated with, our learning platform; the impact on our business and prospects from pandemics; our history of losses and expectation that we will not be profitable for the foreseeable future; the impact of adverse general and industry-specific economic and market conditions; failure to manage our growth effectively; and changes in the spending policies or budget priorities for government funding of Higher Education and K-12 institutions.

These and other important risk factors are described more fully in the Company's most recent Annual Report on Form 10-K and subsequent Quarterly Report on Form 10-Q and other documents filed with the Securities and Exchange Commission and could cause actual results to vary from expectations. All information provided in this press release is as of the date hereof, and Instructure undertakes no duty to update this information except as required by law.

SOURCE Parchment, an Instructure company