Second part of H&R; Block’s “Small Business Recovery Series” study reveals nearly half of small business owners run their businesses on intuition rather than data despite continued loss of revenueKANSAS CITY, Mo., Oct. 27, 2020 (GLOBE NEWSWIRE) — H&R Block (NYSE: HRB) has released new data from its “Small Business Recovery Series” study, revealing many small business owners could be operating with greater financial risks that could be avoided as they head into the busiest and most lucrative time of year, the holiday season. “The most recent findings from our Small Business Recovery Series reinforce a trend we’re seeing where small business owners are focused on regaining lost revenue by offering new products and services, along with growing their e-commerce presence. While this rapid adaptability is key to surviving the pandemic, running on gut instinct instead of data and without professional counsel could put them at increased risk for unanticipated financial and tax implications,” said Jeff Jones, president and CEO of H&R Block.The second installment of H&R Block’s study exposes that many small businesses are:Running on gut instinct versus facts: Nearly half of small business owners (47%) say they “almost exclusively” or “mostly” run their businesses on intuition rather than data.Not seeking professional advice despite continuing to see a loss in revenue: Though nearly three quarters of small business owners (74%) continue to see a negative impact on their business, including a decrease in revenue since the pandemic, most small business owners (90%) have not sought financial and tax advice from a CPA or tax professional related to COVID-19 impacts.Rapidly evolving their businesses: More than half of small business owners (52%) are transforming their businesses for digital commerce in anticipation of the earliest and largest online holiday shopping season yet, with 41% creating new services and 40% creating new products. 1Disproportionately affected, with minority and female business owners reporting greater challenges: 35% of minority owners reported trouble establishing a strong digital presence as a major barrier to e-commerce, while 25% of white small business owners cited this challenge. For women business owners, 34% cited trouble establishing a strong digital presence compared to 27% of male small business owners.Experiencing intensified anxiety given the challenges: Small business owners are now more likely to say that they are more anxious and depressed than normal (increasing from 55% this summer to 61%). Despite this, only 1 in 5 small business owners (22%) are likely to seek mental health support to deal with emotional stress because of COVID-19.“COVID-19 has exacerbated the uncertainty small business owners already face,” said Jones. “No one can solve these challenges alone, and they shouldn’t have to. At H&R Block, we understand and are here to help small business owners.”A successful holiday season is crucial for small business recovery and owners’ peace of mind, with no additional stimulus yet committed by the government. H&R Block supports small business owners by putting a financial lens on all aspects of their business – from understanding their revenue and cashflow to preparing for the tax implications of their new business models. The company also offers online bookkeeping, accounting, invoicing, payroll and payment software services through its subsidiary, Wave Financial.For more information or to access the full data from the first and second wave of H&R Block’s “Small Business Recovery Series” data, contact mediadesk@hrblock.com.Research Methodology * 10-minute online study with n=1,110 H&R Block clients who qualified as small business owners * Businesses with fewer than 50 employees * Margin of error for this sample is +/- 2.9% at the 95% confidence level * Fielded September 2-15, 2020; Wave 1 fielded between July 15-21, 2020.About H&R Block and Year-Round Small Business Support H&R Block, Inc. (NYSE: HRB) provides help and inspires confidence in its clients and communities everywhere through global tax preparation, financial services, and small business solutions. The company is disrupting the tax industry by providing consumers price transparency and with digital platforms such as Tax Pro GoSM. H&R Block believes the best solutions blend digital capabilities with human expertise and care. For more information, get H&R Block News online and follow @HRBlockNews.For further information Investor Relations:  Colby Brown  |  816-854-4559  |  colby.brown@hrblock.com Media Relations:  Angela Davied  |  ­­816-854-5798  |  angela.davied@hrblock.com* * *1 Small business owners with both brick & mortar and online presences say they will place an increased emphasis on existing digital offerings (52%), create new services (41%), and create new products (40%) in order to update their business’s upcoming holiday plans.

Etsy (ETSY) will likely continue to benefit from increased online engagement, growing ad spending, and deeper differentiation of its platform.

H&R Block has fallen about 24% year-to-date versus a roughly 3% drop in the index. BTIG analyst Mark Palmer said the rally has hinged on investor expectations going forward “politically and in terms of the pandemic.” While Trump in 2016 promised a tax code so simple it would put H&R Block out of business, investors see Biden tax changes leading consumers back to H&R Block.

Vice President, Financial Services of Google’s Cloud division brings decades of financial technology and digital innovation leadershipKANSAS CITY, Mo., Oct. 06, 2020 (GLOBE NEWSWIRE) — H&R Block (NYSE: HRB) has added Yolande Piazza, Vice President, Financial Services of Google’s Cloud Division to its Board of Directors, having been elected by the company’s shareholders at its annual meeting on September 10, 2020. “I am delighted to welcome Yolande to H&R Block’s Board of Directors. With more than 30 years of financial services experience and a legacy of creating customer-centric strategies and products, she is an outstanding addition to our Board of Directors,” said Robert A. Gerard, Chairman of the Board. “Her talent for modernizing the way companies serve customers will help guide H&R Block’s ongoing strategy of digitally enabling all aspects of our business to best serve consumers and small business owners.”As Vice President, Financial Services of Google’s Cloud division, Piazza leads their North American financial services sales and customer engineering teams, as she identifies new growth opportunities. Previously, as CEO of Citi FinTech, she led the company’s consumer innovation labs, creating an open Developer Portal, which delivered a vast new world of innovation to Citi, and served as Citi’s global spokeswoman for how digital technologies are evolving the entire banking ecosystem.“I am pleased to join the board of such a trusted brand like H&R Block,” said Piazza. “The company is a great example of how to blend digital convenience and efficiencies with human expertise and care, as it helps millions of people with one of the most important financial moments of the year.”Piazza was named one of the most powerful women in banking in 2019, and a Woman to Watch in 2017 and 2018 by American Banker. She founded the FUTURE | Women in I.T. program, sits on the advisory team of Reputation.com and is serving as chair of the European Financial Management Association through October 2020, as the first chairwoman and first representative from a U.S. bank. In 2017, Piazza joined the UN Women Global Innovation Coalition for Change.About H&R Block H&R Block, Inc. (NYSE: HRB) provides help and inspires confidence in its clients and communities everywhere through global tax preparation, financial services, and small business solutions. The company is disrupting the tax industry by providing consumers price transparency and with digital platforms such as Tax Pro GoSM. H&R Block believes the best solutions blend digital capabilities with human expertise and care. For more information, get H&R Block News online and follow @HRBlockNews. CONTACT: For further information Investor Relations: Colby Brown | 816-854-4559 | colby.brown@hrblock.com Media Relations: Angela Davied | 816-854-5798 | angela.davied@hrblock.com

H&R Block, Inc. (NYSE:HRB) shareholders should be happy to see the share price up 14% in the last quarter. But over…