Mr. Adam Ingrao reports

ALSET AI ANNOUNCES PROPOSED MATURITY EXTENSION TO FIVE YEARS AND UPDATE TO LOAN TRANSACTION OF UP TO $3 MILLION

Alset AI Ventures Inc. has provided an update to its previously announced loan transaction with Randy Gilling in the principal amount of up to $3-million. Further to its press release dated April 24, 2026, as of the date hereof, the lender has advanced $695,000 to the company in two tranches closed on Feb. 24, 2026, and April 2, 2026. As further described in the April 24 release, the company was required to submit, and has submitted, a new application to the TSX Venture Exchange for approval to complete additional tranches pursuant to the transaction.

The lender will purchase, in multiple additional tranches, up to an additional 2,305 non-convertible debentures of the corporation at a price of $1,000 per debenture, in the aggregate principal amount of up to an additional $2,305,000.

The debentures will bear interest at a rate of 6.0 per cent per annum from the applicable issuance date, payable quarterly in arrears on each of March 31, June 30, Sept. 30 and Dec. 31. The interest obligation may be satisfied either in cash or common shares, in the company's sole discretion, subject to the prior approval of the TSX Venture Exchange. The debentures will mature on the date that is five years following the applicable issuance date. The debentures will be governed pursuant to the terms of a debenture indenture dated Feb. 24, 2026, entered into between the company and Endeavor Trust Corp., as trustee. The company and the trustee intend to enter into a first supplemental indenture to the indenture to modify the maturity date in previous tranches and for future tranches from three years to five years from the issuance date.

In consideration for each tranche, the company has agreed to issue to the lender certain non-transferrable warrants to purchase common shares in the capital of the company on or about the closing of each tranche, subject to the approval of the TSX-V. The number of warrants issuable on or about each issuance date shall equal the dollar amount of the principal amount of debentures issued on the applicable issuance date, divided by the exercise price (as defined below). Each warrant will be exercisable for a period of three years: (i) in cash at a price per common share equal to the greater of: (A) 30 cents; and (B) the last closing price of the common shares prior to the issuance of the news release fixing the price for the applicable tranche; or (ii) via a cashless exercise feature based on an agreed-upon formula.

In the event that the principal amount pursuant to any tranche is repaid in whole or in part within one year of the applicable issuance date, the maturity date for such number of warrants that are proportionate to the amount so repaid shall be reduced to the later of: (i) one year from the applicable issuance date; and (ii) 30 days from such reduction of repayment of the principal amount. If the exercise of warrants would cause the lender to acquire more than 19.99 per cent of the common shares, subject exercise cannot occur without the prior approval of (i) the disinterested shareholders of the company; and (ii) the TSX-V.

The funds received pursuant to the transaction are expected to be used for working capital and general corporate purposes in order to provide the company with additional financial capabilities as it continues to advance its AI infrastructure strategy, including supporting the growth of its flagship cloud compute business, Lyken.AI.

The transaction remains subject to the final approval of the TSX-V.

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.