New York, New York - Newsfile Corp. - August 5, 2026 - Flash Sports & Media Holdings, Inc. (NASDAQ: FLZH) ("Flash Sports & Media," "FSM" or the "Company"), a vertically integrated sports, media and fan engagement platform, today announced that it has entered into a non-binding term sheet to acquire a 51% controlling interest in Bongo Holdings Pte Ltd ("Bongo"), one of South Asia's leading digital media, streaming and content distribution platforms. This transaction would give FSM a controlling position and based on financial information provided by Bongo management, the Company expects Bongo to contribute positive EBITDA following closing, before giving effect to transaction expenses, purchase-accounting adjustments and financing costs. Bongo has built one of South Asia's largest digital media ecosystems, combining a proprietary end-to-end streaming platform with a distribution network reaching more than 300 million viewers and owned digital brands with over 73 million social media followers. Bongo distributes content through platforms including YouTube, Facebook and TikTok and has advised the Company that it is delivering premium sports and entertainment content from globally recognized brands including, Premium Football Leagues & Tournaments, MasterChef, Shark Tank, Eurovision and Family Feud, in addition to working with major media companies such as Sony and among many others. The proposed acquisition positions Flash Sports & Media to own and operate a fully integrated sports and media ecosystem spanning premium sports rights, original content, live event production, proprietary streaming technology, direct-to-consumer distribution, advertising inventory and fan engagement. Beyond adding an established, revenue-generating digital platform, the transaction is expected to significantly accelerate Flash's global expansion strategy by providing immediate technology infrastructure, distribution scale and access to high-growth Asian markets. Except for provisions relating to exclusivity, transaction-expense reimbursement, governing law and the binding effect of those provisions, the Term Sheet is non-binding. Strategic Rationale: Building a Vertically Integrated Global Sports & Media Platform Flash Sports & Media has assembled a portfolio of premium sports rights, live event properties, production capabilities and fan engagement assets. The proposed Bongo acquisition adds the final layer of the value chain by combining proprietary streaming technology, large-scale digital distribution and an established audience into a single integrated platform capable of delivering and monetizing content directly with consumers worldwide. The Company believes acquiring a controlling interest in Bongo creates several significant strategic advantages: Technology Infrastructure — Bongo's proprietary end-to-end streaming platform, purpose-built for mobile-first users and optimized for lower-bandwidth environments across emerging markets, will provide the technology backbone for Flash's global direct-to-consumer streaming strategy. Distribution Network — Immediate access to a digital creator ecosystem reaching more than 300 million viewers across South Asia and international diaspora markets provides Flash with a powerful distribution network for content sourcing, original programming and future premium content. Audience & Engagement — More than 73 million followers across Bongo's owned digital brands create an established audience for Flash's sports properties while significantly expanding opportunities for fan acquisition, engagement and cross-promotion. Premium Content Relationships — Commercial relationships with leading global content owners and entertainment brands, including Premium Football Leagues & Tournaments, MasterChef, Shark Tank, Eurovision and Family Feud, provide meaningful opportunities to accelerate Flash's content strategy and broaden its premium media offering. Sports & Cricket Ecosystem — Bongo's deep experience across Asian sports markets and established relationships throughout the regional cricket ecosystem are expected to strengthen Flash's ability to expand sports rights, develop premium programming and deepen fan engagement throughout one of the world's fastest-growing sports markets. Streaming & Media Expansion — Bongo's proprietary streaming technology is expected to power Flash's future streaming services, reducing development timelines while providing a scalable infrastructure capable of supporting premium live sports, entertainment and original programming at a substantially lower operating cost. Advertising & Monetization — The combination significantly expands advertising inventory, subscription opportunities, audience analytics and data-driven monetization capabilities, strengthening Flash's recurring revenue model beyond event-driven revenues. Content Strategy & Market Intelligence —...