Mr. Adam Ingrao reports

ALSET AI ANNOUNCES FIRST QUARTERLY RENEWAL OF LYKEN.AI CLOUD COMPUTE SERVICES CONTRACT WITH MULTINATIONAL TECHNOLOGY AND TELECOMMUNICATIONS COMPANY

Alset AI Ventures Inc.'s 100-per-cent-owned Lyken.AI has executed its first quarterly renewal under its previously announced cloud compute services agreement with a leading multinational technology and telecommunications company.

The renewal became effective May 6, 2026, and is structured as a three-month purchase order valued at approximately $250,000. Based on current expected delivery costs, commissions and service charges, the company expects net margin for the renewal to be approximately 5 per cent. With the successful renewal now in place, Lyken.AI remains on track to generate approximately $1-million in annualized recurring revenue from this client relationship, with the expectation of continued quarterly renewals throughout 2026. There is no guarantee that the customer will renew the agreement for any subsequent period, and the agreement does not contain any binding renewal obligation on the part of the customer.

Lyken provides access to outsourced cloud compute server capacity and related technical coordination and support services. The renewal reflects the continuation of services for the current quarterly period under the existing customer relationship.

About Alset AI Ventures Inc.

Alset AI is an artificial-intelligence-focused venture investment platform dedicated to sourcing, funding and developing companies across the artificial intelligence value chain. The company seeks to provide investors with diversified exposure to emerging applications and infrastructure that enable advancements in AI technologies.

We seek Safe Harbor.