FAST Acquisition Corp. II Issues Letter To Shareholders Regarding Proposed Business Combination With Falcon's Beyond, S-4 Filing, And Extension Of Termination Date

Falcon's Beyond continues to execute with $350 million Falcon's Beyond Destinations entertainment venue, which includes recently debuted Falcon's Resorts by Meliá; poised to fully open Katmandu Park in Punta Cana on March 15

Falcon's Beyond Global, Inc. files registration statement on Form S-4 with the SEC

FAST II files definitive proxy to extend termination date in charter up to 7 months to complete transaction

FAST Acquisition Corp. II (NYSE:FZT) ("FAST II" or "we") today issued the following letter to its shareholders regarding updates to the proposed Business Combination (the "Business Combination") with Falcon's Beyond Global LLC ("Falcon's Beyond" or the "Company"):

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230213005619/en/

Dear Shareholders,

FAST II recently announced that it had entered into an Amended and Restated Agreement and Plan of Merger with Falcon's Beyond, an Orlando-based entertainment business with a stellar 23-year track record of master planning and theme park attraction design services, an expanding brick and mortar footprint of hotel and theme park destinations, and a burgeoning brand IP unit it expects to monetize through its growing footprint.

We continue to believe that Falcon's Beyond is at the forefront of experiential entertainment and is well-positioned to continue to capitalize on the retail tailwinds associated with its business model as the return of domestic and international travel continues to surge as the world emerges from COVID-19. Since we first announced the proposed Business Combination in July 2022, the Falcon's Beyond team has made significant progress with its flagship resort "Falcon's Resort by Meliá" in Punta Cana, which is a multi-phase transformation of two existing Meliá properties. The resort opened in December 2022 and Katmandu Park Punta Cana, the planned theme park arm of the location, had its soft opening in December and is poised to fully open on March 15 of this year. The location's retail, dining and entertainment district called Falcon's Central also continues to progress and is slated to open in 2025.

Importantly, we believe the revised terms of the Amended and Restated Agreement and Plan of Merger benefit all of our shareholders, as we have meaningfully aligned the equity consideration and sponsor economics of the transaction with shareholders by significantly tying both to capital raised, financial performance, and share price targets of the combined company.

Filing of SEC Form S-4 Registration Statement

We are also pleased to announce that in connection with the Business Combination, Falcon's Beyond Global, Inc. filed a registration statement on Form S-4 (the "Registration Statement") with the U.S. Securities and Exchange Commission ("SEC") on February 14, 2023. The filing may be found at the Company's page on www.sec.gov.

We wanted to include a comment we received from Scott Demerau, Executive Chairman of Falcon's Beyond, about this important milestone:

"We are very pleased to be progressing forward with this transformational transaction for Falcon's Beyond as we achieve this important milestone of filing the Form S-4 with the SEC. We are committed to this process with our good partners at FAST II, and are excited to become a public company, which will allow us to accelerate the growth of our unique experiential media and entertainment business."