Mr. Adam Ingrao reports

ALSET AI HIGHLIGHTS FINGERMOTION ALBERTA INFRASTRUCTURE AGREEMENT AND STRATEGIC ALIGNMENT WITH LYKEN AI

Alset AI Ventures Inc. has acknowledged the Sept. 29, 2026, announcement by FingerMotion Inc. of a definitive agreement to acquire Newbit Technology Inc., which holds rights, permits and fixed infrastructure associated with a planned 9.9-megawatt behind-the-meter site in Alberta.

According to FingerMotion, the proposed acquisition involves $2.3-million (U.S.) in cash consideration, with closing targeted on or before Oct. 29, 2026, subject to conditions. Generating equipment is excluded from the acquisition, and the transaction does not itself establish operating power generation or contracted compute revenue.

Alset investment and Lyken AI Computing Inc. relationship

Alset holds 1,674,480 restricted FingerMotion shares, representing approximately 2.2 per cent of FingerMotion's issued and outstanding common shares as of Oct. 2, 2026, received in connection with its August, 2026, sale of a 9.9-per-cent interest in Lyken AI Computing Inc., operating as Lyken.AI. The FingerMotion shares are subject to a six-month trading restriction ending Feb. 17, 2027. Alset retains a 90.1-per-cent controlling interest in Lyken. This structure provides Alset with an investment in FingerMotion alongside its continuing ownership of Lyken's cloud compute business.

As previously announced, Lyken entered into a non-binding memorandum of understanding with FingerMotion and BlueFlare Energy Solutions Inc. to evaluate opportunities to match qualified enterprise artificial intelligence and high performance computing workloads with potential future infrastructure capacity.

"FingerMotion's definitive agreement represents a relevant step in its infrastructure strategy," said Adam Ingrao, chief executive officer of Alset. "Our investment in FingerMotion and its minority ownership in Lyken create a strategic connection between the businesses, and the collaboration between companies provides a framework for infrastructure developed through FingerMotion and BlueFlare to be matched with Lyken's enterprise customer opportunities."

Any participation by Lyken in the site would require separate evaluation and definitive commercial agreements. The existing memorandum of understanding does not grant Lyken ownership of the site, reserve power or compute capacity, or establish customer revenue or financing commitments.

About Alset AI Ventures Inc.

Alset AI is an artificial-intelligence-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.

We seek Safe Harbor.