Mr. Adam Ingrao reports

LYKEN.AI ANNOUNCES NON-BINDING MOU FOR 128-NODE B300 AI COMPUTE CLUSTER

Alset AI Ventures Inc.'s 90.1-per-cent-owned cloud compute business, Lyken AI Computing Inc., operating as Lyken.AI, has entered into a non-binding memorandum of understanding dated Aug. 24, 2026 (the MOU), with Singapore-based Swarmnet Solutions Pte. Ltd.

The MOU outlines an indicative framework for the parties to pursue a potential long-term commercial arrangement under which Lyken would lease, host, manage and/or otherwise make available a 128-node B300 AI compute cluster to Swarmnet for inference workloads, together with token optimization services and related commercial agreements. The contemplated service is intended to support Lyken's broader platform-as-a-service strategy, combining managed compute with server and token optimization.

The contemplated arrangement would have an indicative five-year term beginning at service commencement, with aggregate indicative revenues to be determined and disclosed upon execution of definitive agreements. The final hardware configuration, deployment location and schedule, networking, storage, reserve capacity, acceptance testing, service levels, support requirements, and other commercial terms would be established only in definitive agreements.

"A potential 128-node B300 deployment represents the type of enterprise-scale opportunity Lyken is pursuing as it builds its AI platform pipeline," said Adam Ingrao, chief executive officer of Alset AI. "Our strategy is to deliver an integrated platform-as-a-service offering, not infrastructure alone. Lyken continues to develop and refine its server and token optimization capabilities, with the objective of improving utilization and strengthening platform economics. The MOU remains preliminary and non-binding, and advancing the opportunity will require Lyken to secure funding and complete definitive agreements."

Progression of the opportunity is expressly subject to Lyken securing sufficient funding to procure, reserve, and deploy the contemplated hardware and associated infrastructure. It is also subject to negotiation and execution of definitive agreements, due diligence, internal approvals (including, if applicable, the acceptance of the TSX Venture Exchange), satisfactory credit support, hardware and data centre availability, and compliance with applicable export-control, sanctions, end-user and end-use requirements.

The MOU is non-binding and non-exclusive and records the parties' present commercial intentions only. Neither party has any binding obligation to make a payment, reserve capacity, procure equipment, provide or take capacity, or enter into the contemplated transaction unless and until definitive agreements are executed. There can be no assurance that Lyken will secure the required funding, that definitive agreements will be entered into, or that the proposed deployment will proceed on the terms contemplated or at all.

About Lyken.AI

Lyken.AI is Alset AI's cloud compute business and is developing an integrated platform-as-a-service offering spanning managed compute, server and token optimization, secure storage, private low-latency networking, and enterprise deployment support. Lyken's model is intended to extend beyond infrastructure access through related technical co-ordination and support services.

About Alset AI Ventures Inc.

Alset AI is an AI-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.