Society Pass (SOPA) Issues Q1 Shareholder Update

Society Pass Inc. (Nasdaq: SOPA) (“SOPA” or the “Company”), Southeast Asia’s (SEA) next generation, data-driven, loyalty, fintech and e-commerce ecosystem, continues to capture the attention of financial analysts and investors, receive positive recommendations and achieve significant milestones.

SOPA has accomplished annual triple digit revenue growth over the past four years through its innovative business model by acquiring high growth companies such as: Thoughtful Media Group, a Thailand-based, a social commerce-focused, premium digital video multi-platform network; NusaTrip, a leading Indonesia-based Online Travel Agency; VLeisure, Vietnam’s leading provider of hotel management and payment solutions; Gorilla Global, a Singapore-based, mobile network operator; and Leflair, Vietnam’s leading lifestyle e-commerce platform.

SOPA’s diversification strategy is mainly due to the fact that roughly 70% of SEA’s population is unbanked or underbanked and more people are connected everyday looking for services offered by SOPA. SOPA looks to continue to increase its portfolio of value-added brands within this rapidly expanding consumer market.

Recent Analyst Recommendations:

• Litchfield Hills Equity Research Report (22 December 2023) summarised that SOPA is a high-growth acquisitive internet services company offering advertising, travel, retail, telecom and fintech services in fast growing SEA. Litchfield Hills forecasts positive EBITDA in 2024 as SOPA shifts from its early growth strategy to a focus on profitability under its new CEO.
• Ascendiant Capital Markets recommended a bullish outlook for SOPA stock as highlighted in their recently issued Ascendiant Capital Markets Equity Research Report (05 December 2023), emphasising the company's innovative subscription model and strategic partnerships as key drivers for its potential growth.
• Given that SOPA beat its 3Q 2023 estimates and cash balance remains strong, Maxim Group remains positive on SOPA’s organic growth and M&A strategy in its 3Q 2023 Maxim Group Equity Research Report (15 November 2023).
• Greenridge Global initiated coverage with a target price based on an EV/Revenue multiple of roughly 3 times the 2025 revenues Greenridge Global Equity Research Report (01 November 2023). It also affirmed SOPA’s potential for significant upside believes the market is not fairly valuing SOPA’s assets at this time and believes listing some of its subsidiaries provides greater transparency to SOPA’s overall business model.

Structured Financing with Strattners:Society Pass Inc. recently executed a transformative structured financing agreement with Strattners, securing access to $40 million in funding. This strategic partnership empowers SOPA's subsidiaries to embark on NASDAQ IPOs in 2024. "The financing agreement with Strattners positions Society Pass Inc. for substantial expansion, providing avenues for growth and value creation," stated Raynauld Liang, SOPA CEO. The advantages of this collaboration extend to:

• Augmented financial flexibility to support subsidiary expansion;
• Accelerated growth and development of innovative services;
• Increased opportunities for shareholders to participate in the success of subsidiaries.

A Year of Solid Achievements:Society Pass Inc. achieved numerous milestones over the past year, focusing on technological innovation, customer satisfaction, and shareholder value. Notable recent announcements include spinning out both Thoughtful Media Group and NusaTrip into publicly traded entities via NASDAQ IPOs in 1H 2024. The company also revealed product launches. Additionally, the company secured a $40 million financing from financing group Strattners FZCO.

Society Pass Inc. remains steadfast in delivering excellence in the subscription-based economy. The company invites investors to join in its journey of growth, innovation, and value creation.

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