FAST TRACK GROUP Issues Letter to Shareholders to Discuss Recent Business Developments and Future Growth Strategies

SINGAPORE, Aug. 28, 2025 (GLOBE NEWSWIRE) -- FAST TRACK GROUP (NASDAQ:FTRK) ("Fast Track" or the "Company"), an entertainment-focused event management and celebrity agency company, today issued a letter to its shareholders highlighting the future business outlook and strategy of the Company.

From FAST TRACK GROUP Chief Executive Officer Harris Lim

Dear Shareholders,

First, I want to extend my sincere appreciation for your patience, trust and continued support over the past few months. Since our IPO in May 2025, our journey as a public company has unfolded under unusual circumstances, as we faced a wave of misleading allegations that have impacted both our company and shareholders. In response, we issued this press release that combatted the false rumors and accusations – I want to personally guarantee everyone reading this letter and beyond, that the fundamentals of our business have not changed, and that we are very excited for the upcoming chapters for Fast Track.

Our Upcoming Opportunities

Over the past several months, we have concentrated our efforts on major brand activation initiatives - engaging with a diverse range of companies and brands across Southeast Asia and aligning them with high-profile celebrities whose audiences align closely with each brand's target market. By creating these highly targeted and authentic endorsements, we are not only elevating brand visibility but also driving awareness and conversion potential in a way that is tailored to each market.

As an example, during the second half of 2024, we secured a brand activation deal valued at approximately $1.3 million with a new client and executed in collaboration with multinational talent and entertainment agencies. This three-part project – of which the first two phases were completed in May and July – centers on South Korean celebrities from these prominent agencies, carefully matched to the client's target audience to maximize engagement and impact. The final phase is scheduled for October, at which point we plan to share additional details. Notably, this single deal already exceeds our total revenue for fiscal year ended February 28, 2025, underscoring the scale of this deal to accelerate growth.

Another recent brand activation deal was with an electric vehicle (EV) brand in the Southeast Asia market. Similar to the previous example, we were contracted to drive market penetration and support the brand's marketing and positioning efforts in advance of a new product launch. The EV brand's priority was to capture attention and generate strong publicity around this particular product launch. Leveraging our network and expertise, we identified and secured celebrity partnerships whose audiences align closely with the EV brand's target market, helping amplify awareness, spark consumer interest, and create a buzz in the highly competitive Southeast Asian EV landscape. By strategically facilitating these partnerships, we provided the brand with a tailored and impactful marketing solution that differentiated them in a crowded field.

These examples represent a glimpse of the opportunities our team has been actively pursuing. We continue to explore and engage with new clients and partners across the Southeast Asia market, identifying ways to deliver our services and create meaningful experiences. Our efforts are focused on deepening our market presence, building strong relationships, and driving sustainable growth throughout the region.

Current Market Shift in the Live Entertainment Sector

While these opportunities are encouraging, we remain forward-looking, continuously exploring innovative ways to adapt our business model to evolving market trends and conditions. Traditionally, a significant portion of our live entertainment work was focused on concert organization. However, current market dynamics have made this approach increasingly challenging and risky, as concert organizers currently face low profitability and many smaller-scale events fail to generate meaningful returns. Additionally, the traditional concert model is difficult to scale, especially at our current size, due to the significant cash flow and manpower required.

That said, our growth strategy and how we approach future opportunities emphasizes both profitability and scalability. Strategically, we have shifted our focus from concert organization to concert tour management. This evolution aligns with current market realities while supporting our broader objective of innovating and adapting our business model.

This distinction is critical: as a concert organizer, especially at our current size, the risk lies with the venue, ticketing, cancellation, and other operational costs for a single event. By contrast, as a tour manager, we can leverage the same budget of a single concert to secure specific celebrity rights, which can then be offered to multiple concert organizers. This model mitigates the financial risks associated as an organizer while enhancing profitability and is more scalable. Instead of focusing on a single concert, we can supply celebrity talent to multiple organizers simultaneously, creating diversified revenue streams and maximizing the impact of our resources. This strategic pivot positions us to grow efficiently while maintaining flexibility and resilience in this market.

As part of this shift, we've already begun putting our new business model into action. We are currently in discussions to finalize two concert tours for a few celebrities in the Asia region. That said, this does not mean we are exiting the concert organizer business entirely. We will remain opportunistic – leveraging our extensive network of celebrities, we are prepared to organize concerts directly when opportunities align with a clear ROI. Our goal is to remain agile in response to evolving market trends and shifts within the live entertainment sector. With experience as both a concert organizer and a tour manager, we can adapt to changing conditions, seize the right opportunities, and maintain flexibility while driving sustainable growth. This dual capability positions us to respond strategically, ensuring long-term relevance and profitability in a dynamic market.

Future Growth Strategy

To further accelerate our growth in celebrity-driven initiatives, building strategic partnerships with key firms in the entertainment and media industry remains a central focus. Collaborating with agencies to deliver enhanced services to our clients and cultivating strong industry relationships are both essential to our success in the broader entertainment ecosystem.

This approach is evident in the example I shared earlier, where we collaborate with several agencies representing high-profile celebrities to facilitate the three-part brand activation project.

Additionally, while still in the early stages, we are exploring opportunities to consolidate intellectual property, artist ownership, and music licensing rights. This initiative would allow us to secure exclusive celebrity rights, enabling us to more effectively facilitate concerts, brand activations, and marketing projects, while expanding the range and depth of services we can offer our clients.

In an industry where relationships are key to unlocking new business opportunities, we recognize that results may not always be immediate; however, by continuing to invest time and effort into this initiative, we are positioning ourselves for sustainable long-term growth.

Closing Remarks

In closing, we see strong opportunities ahead as we work with our clients to finalize the deals currently in progress. The brand activation projects and other upcoming opportunities highlighted earlier represent just a small portion of our broader pipeline and will play a key role as growth drivers as we continue to scale the business. We remain confident in the progress made across our pipeline since our IPO and look forward to sharing further details, along with additional opportunities, as they are finalized.

We sincerely thank all our shareholders and supporters for their continued trust and support as we navigate this unique journey in the market. Our focus remains firmly on building strategic partnerships, delivering consistent value to our clients, and scaling our business to generate sustainable, long-term results.

Sincerely,

Harris Lim

Chief Executive Officer and Director

About FAST TRACK GROUP

FAST TRACK GROUP is a leading entertainment-focused event management and celebrity agency company. Since inception in Singapore in 2012, the Company has expanded across Asia Pacific, earning a reputation for being the preferred partner for event and endorsement organizers in the region. FAST TRACK GROUP goes beyond traditional event management, offering value-added services such as media planning, PR management, technical production planning, celebrity sourcing, celebrity engagement consultancy and event manpower support, all tailored to the highest standards.

Cautionary Note Regarding Forward-Looking Statements

Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations. Investors can find many (but not all) of these statements by the use of words such as "approximates," "believes," "hopes," "expects," "anticipates," "estimates," "projects," "intends," "plans," "will," "would," "should," "could," "may" or other similar expressions. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct. The Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to read the risk factors contained in the Company's final prospectus and other reports it files with the SEC before making any investment decisions regarding the Company's securities. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law.

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