EP is a demonstration.
Many singers will record some songs themselves and send them to record companies before they are tapped by the companies. Usually there are only one or two or two or three songs. This is a demonstration. Later, many companies will send an EP before releasing an album to a singer or band, including two or three songs, up to five songs, which is to ask for directions and see the market reaction, because there are fewer EP songs and the price is relatively cheap. If you can't sell such a cheap EP, the record company may have other plans. Some new singers or bands don't have a comprehensive picture only after EP, which is mostly related to the market reaction of EP.
In the game, EP refers to experience value.