[1][2] The night before the announcement of Future Present Past, billboards in London and New York City began displaying promotional videos for the Strokes featuring a running figure and each word comprising the EP's title.

[3][4] On May 26, 2016, the Strokes lead singer Julian Casablancas announced Future Present Past during the premiere of his SiriusXMU show Culture Void, and the album became available for pre-order.

[6] The EP was released on June 3 via 10-inch vinyl and digital download, the same day as the Strokes' headline performance at the Governors Ball Music Festival.

[1] The opening track "Drag Queen" features post-punk influences and pitch-shifted, compressed vocals,[8][9] and its bassline drew comparisons to Joy Division and its successor New Order.

[10][1] Critics viewed its anti-capitalist, dystopia-focused lyrics as an exploration of themes that had influenced Casablancas' songwriting outside of the Strokes, including for The Voidz' 2014 album Tyranny.

[11][12] NME's Barry Nicolson noted the simplicity of the song's main riff and Casablancas' ad-libbing as influences from the Strokes' earlier work.

[1][12] On June 2, 2016, the band released a lyric video for "Drag Queen", featuring various vaporwave-themed GIF animations created by the artist KidMograph/Gustavo Torres, and edited and arranged by Liz Hirsch.