DreamBox Learning names Jessie Woolley-Wilson as Chief Executive Officer

Seasoned Education Technology Veteran to Lead Company Post-Acquisition

Bellevue, WA, September 1, 2010 — DreamBox Learning
an innovative e-Learning company, today named Ms. Jessie Woolley-Wilson to serve as the
company’s Chief Executive Officer, effective immediately. The appointment follows
the April 2010 acquisition of DreamBox Learning by The Charter Fund in partnership with
Reed Hastings, education philanthropist and Chief Executive Officer of Netflix, Inc.

Ms. Woolley-Wilson will tap her nearly two decades of leadership experience in education
technology and e-Learning in this new role. Most recently, Ms. Woolley-Wilson served as
President of K-12 at Blackboard, Inc. (NASDAQ: BBBB), where she led the successful
expansion of the e-Learning business and was instrumental in the development of K-12
functionality in Blackboard’s learning management system. Previously, Ms.
Woolley-Wilson was Executive Vice President of LeapFrog Enterprises and the President
of LeapFrog SchoolHouse, the schools division of LeapFrog Enterprises (NASDAQ: LF).
Leading all business functions in this general management role, she was responsible for
establishing LeapFrog SchoolHouse as one of the fastest growing instructional software
providers in the K-12 industry. Prior to Leapfrog, Ms. Woolley-Wilson also held executive
leadership positions at MyRoad.com, The College Board, and Kaplan.

“Jessie brings an enormous wealth of knowledge and expertise in the area of e-Learning
as well as a stellar track record in her ability to lead and execute,” said Reed
Hastings, DreamBox Learning Chairman of the Board. “I am confident that under her
stewardship DreamBox Learning will accelerate its growth and create a heightened demand
for effective, individualized programs that will help millions of students succeed.”

“DreamBox Learning is an exciting and promising company that has the potential to
transform learning as we know it for generations to come,” said Ms. Woolley-Wilson.
“Its award-winning adaptive learning technology delivers effective, engaging and
individualized math curriculum to K-3 students while making learning fun. I am thrilled
to join such a talented and dedicated group of professionals, and look forward to building
value and catapulting the growth of this promising educational enterprise in the months
and years ahead.”

About DreamBox Learning (www.dreambox.com)

DreamBox Learning was founded in 2006 in Bellevue, Washington and acquired in April 2010
by the Charter Fund in partnership with Reed Hastings, a widely recognized educational
philanthropist and CEO of Netflix, Inc. The company launched a Web-based platform and
its first adventure-themed online learning product called DreamBox Learning K-2 Math in
January 2009, and the program has won more than 20 top technology and education industry
awards. DreamBox Learning K-2 Math was followed by the DreamBox Math Classroom in April 2009
and DreamBox Learning K-3 Math in April 2010. The products target young students in
kindergarten through third grade and deliver more than 500 core lessons and unlimited
variations based on the Focal Points set by the National Council of Teachers of Mathematics
(NCTM). DreamBox Learning programs are designed to teach and reinforce real math through
effective, individualized instruction in an engaging and fun manner. The products’
patent pending “engine” constantly assesses each student’s mathematical
understanding, provides the most suitable hints and encouragement at the right pace for
that child, and offers the next personally appropriate activities as subsequent choices.
More information can be found at www.dreambox.com.

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