Mr. Adam Ingrao reports

ALSET AI ANNOUNCES AGREEMENT TO SELL 9.9% INTEREST IN LYKEN AI COMPUTING TO FINGERMOTION

Alset AI Ventures Inc. has entered into a share purchase agreement dated Aug. 12, 2026, with FingerMotion Inc. and Lyken AI Computing Inc., operating as Lyken.AI, pursuant to which FingerMotion has agreed to acquire from Alset 99,000 common shares of Lyken, representing 9.9 per cent of Lyken's one million issued and outstanding common shares immediately before closing. The transaction has not closed and remains subject to the acceptance of the TSX Venture Exchange (as defined below).

In connection with the transaction, FingerMotion will issue to Alset on closing a total of 1,674,480 FingerMotion common shares. The amount of FingerMotion shares was determined by dividing $500,000 (U.S.) by the sum of: (i) the Nasdaq quoted official closing price of one FingerMotion share on the trading day immediately preceding the date of the agreement; and (ii) one U.S. cent, with fractional FingerMotion shares rounded down to the nearest whole FingerMotion share. No cash consideration is payable. Following closing, Alset is expected to retain 90.1 per cent of Lyken, and no securities of Alset will be issued in connection with the transaction. The FingerMotion shares are restricted from trading for a period of six months following the closing date.

Completion of the transaction remains subject to the receipt of final acceptance from the TSX-V, and the transaction will not be completed until such acceptance has been received. There can be no assurance that the TSX-V will accept the transaction or that it will do so on the terms described in this news release. The transaction is arm's length, and no finders' fees are payable in connection with the transaction.

"This transaction gives us a meaningful third party valuation marker for Lyken," said Adam Ingrao, chief executive officer of Alset AI. "FingerMotion's ownership adds a strategically aligned, Nasdaq-listed shareholder as Lyken seeks to advance its cloud compute opportunity pipeline. Alset will also receive FingerMotion shares, which may create an additional avenue for participation in the relationship while Lyken continues to build on its vendor ecosystem and enterprise customer traction."

"We believe Lyken provides an initial differentiated opportunity to participate in the expanding AI and cloud compute ecosystem," said Jolie Kahn, chief executive officer of FingerMotion. "We believe that Lyken's vendor relationships, commercial experience and opportunity pipeline provides a foundation for collaboration. This minority investment is intended to give FingerMotion exposure to Lyken's platform while allowing both companies to evaluate areas where their capabilities and networks may provide further synergies."

Transaction highlights:

• Strategic alignment: FingerMotion is expected to become a strategic minority shareholder as Lyken seeks to advance its cloud compute opportunity pipeline.
• Commercial platform: Lyken's previously disclosed ecosystem includes Nvidia, Dell Technologies Canada and established data centre providers, supporting GPU compute, secure storage, private networking and related enterprise services.
• Enterprise traction: Lyken has a previously announced cloud compute service relationship with a leading multinational technology and telecommunications company.

FingerMotion's minority investment is intended to align the companies around Lyken's growth potential and give FingerMotion strategic exposure to Lyken's vendor ecosystem, cloud compute capabilities, customer experience and client opportunity pipeline. The parties expect to explore areas in which their respective technology, data and commercial capabilities may be complementary.

Following completion of the transaction, Lyken will continue to operate independently and retain its current revenues to finance growth while Alset participates through its 90.1-per-cent controlling interest. The transaction is consistent with Alset's ordinary-course activities and stated objectives as an investment issuer, including portfolio development and value realization.

Independent industry forecasts continue to point to sustained demand for data centre and artificial intelligence compute capacity. The International Energy Agency projects global data centre electricity consumption will roughly double from 485 terawatt-hours in 2025 to 950 terawatt-hours in 2030 while electricity consumption attributable to AI-focused data centres is projected to triple over the same period. These forecasts are third party estimates that have not been independently verified by the company and are not assurances of demand for Lyken's services or of Lyken's future performance. The company disclaims responsibility for the accuracy of such third party estimates.

About Alset AI Ventures Inc.

Alset AI is an AI-focused venture investment platform dedicated to sourcing, financing 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.

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