Mr. Adam Ingrao reports

ALSET AI PROVIDES PORTFOLIO UPDATE AS CHIP DATA CENTERS ADVANCES 30 MW OF OPERATING, IN-CONSTRUCTION AND SIGNED CAPACITY

Alset AI Ventures Inc. has provided an operational update on its portfolio investment, Chip Data Centers Inc., a developer and operator of purpose-built, artificial-intelligence-ready data centres across North America.

Since Alset's previous update, Chip has continued to expand its operating and development footprint while maintaining a disciplined, asset-light operating model. Based on information provided by Chip's management, Chip reports five named sites operating or in development across Ontario, Ohio and Texas, with four megawatts operating and an additional 26 MW in construction or signed, for a total of 30 MW across operating, in-construction and signed capacity.

Based on information provided by Chip's management, Chip has secured a global enterprise as the offtaker for its next two planned data centre sites in the Waterloo region. The customer has committed to the first 20 MW of capacity and to additional expansion capacity developed at the sites. Chip reports that a master service agreement has been executed, providing contracted customer support for the planned capacity rather than relying on non-binding demand indications. Alset has not independently verified these representations.

Operationally, Chip reports that its first significant cash flow began this past July, 2026, while maintaining a lean corporate structure. Its modular development model is designed to shorten the period from site control to commercial operation and support scalable, multiyear buildouts. Chip continues to prioritize sites with secured or accessible power and near-term commercialization potential.

"Chip is delivering the kind of measurable operating progress we want across the Alset portfolio," said Adam Ingrao, chief executive officer of Alset AI. "The platform now represents five sites, 30 MW of operating, in-construction and signed capacity. Securing a global enterprise for the first 20 MW at the next two Waterloo sites is particularly meaningful because it provides strong commercial validation for the next phase of expansion. With an operating site, positive cash flow and a disciplined strategy, Chip is demonstrating that AI infrastructure can be advanced with speed, focus and capital discipline. We believe this progress meaningfully strengthens Alset's exposure to the growing demand for AI-ready power and data centre capacity across North America."

Over the next 12 months, Chip's priorities are to advance the buildout of the two additional Waterloo region sites, progress the acquisition and development of its first U.S. site, and selectively advance other locations based on power availability, customer demand and their potential to reach commercial operation.

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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