• Improper conduct of former service provider identified in March 2025
• Board has taken various actions to pursue legal actions and complete audits
• Business operations continue as usual, with focus on AI ventures and fintech/blockchain exits

Fatfish Group Ltd (ASX:FFG) held an investor webinar to provide an update on the company's operations. The key points covered include:1. Improper Conduct of Former Service Provider: A former provider of company secretarial, tax agency, and financial management services had acted improperly, using FFG's Australian bank accounts to receipt and transit improperly received funds over a number of years. This issue has resulted in the company being unable to finalize its CY2024 financial results and subsequent periodic financials.2. Next Steps: The Board has explored all avenues of legal actions, engaged legal advisors, progressed discussions with regulators and law-enforcement bodies, and quantified the details of the transactions. The immediate next steps include continuing to pursue the relevant actors through legal means, completing the audits for CY2024, 1HCY2025, and CY2025, and preparing to propose a requotation of the company's securities to the ASX.3. Business Continues as Usual: The company's venture building on AI ventures, including the Fatfish AI Applied Lab, and its fintech and blockchain-related ventures, including exiting from non-core fintech ventures, are ongoing. 4. Financing Strategy: FFG is funding its operations through targeted divestments of specific subsidiary assets, a refinancing event with Arena Investors, and operational revenues. The company is also considering other potential funding avenues.

The company is targeting reinstatement to quotation within four months from the date of the announcement.