Ms. Jolie Kahn of FingerMotion reports

FINGERMOTION ENTERS THE ENTERPRISE AI COMPUTE MARKET WITH THE ACQUISITION OF A 9.9% INTEREST IN LYKEN AI COMPUTING

FingerMotion Inc., a mobile data and telecommunications service company, has entered into a share purchase agreement dated Aug. 12, 2026, with Alset AI Ventures Inc. and Lyken AI Computing Inc., operating as Lyken.AI, pursuant to which FingerMotion is acquiring 99,000 common shares of Lyken from Alset AI, representing 9.9 per cent of Lyken's one million issued and outstanding common shares immediately prior to closing, for a purchase price of $500,000 payable solely in common stock of the company. Final closing of the transaction is subject to approval of the TSX Venture Exchange on behalf of Alset AI.

The transaction marks FingerMotion's formal entry into the enterprise computing market and is the first step in a broader strategy to build a recurring-revenue enterprise compute franchise alongside the company's existing mobile data and telecommunications operations.

At final closing, FingerMotion shall issue to Alset AI 1,674,480 FingerMotion restricted common shares determined by dividing $500,000 by the sum of: (i) the Nasdaq official closing price of one FingerMotion common share on the trading day immediately preceding the closing date; and (ii) one cent, with any fractional share rounded down to the nearest whole share. The FingerMotion shares are to be issued in a private placement transaction, exempt from registration, under Section 4(a)(2) of the Securities Act of 1933, as amended. No cash consideration is payable by FingerMotion at closing. Following closing, Alset AI is expected to retain 90.1 per cent of Lyken.

A pivotal step into enterprise computing

"This is a deliberate and intentional pivotal move for FingerMotion," said Jolie Kahn, chief executive officer of FingerMotion. "For a decade, the company has operated at the intersection of telecommunications infrastructure and data at enterprise scale. Enterprise computing is the natural extension of that capability, and it is where we intend to build the next phase of this company. Compute has become the constraint on what enterprises can actually deploy -- not ambition, not talent, but access to capacity that is available, governed and supportable. Lyken gives us a real operating platform to serve that need, and this investment is the starting point in this journey."

The company intends to pursue enterprise compute as a distinct and scalable line of business, with the objective of moving from an initial minority position toward a larger participation in Lyken and in the underlying infrastructure that supports it, subject to commercial performance, capital availability, and applicable regulatory and exchange requirements.

How FingerMotion intends to serve the enterprise compute segment

Enterprise buyers of artificial intelligence and cloud compute are consistently underserved by the two dominant supply models available to them: hyperscale platforms that are difficult to secure allocation from and inflexible on terms, and bare metal GPU brokers that deliver hardware but not accountability. FingerMotion's strategy is to serve the segment in between -- the enterprise that requires committed capacity, a named counterparty and a professional operating partner that can carry the deployment through to production. The company intends to build that offering across five components:

• Contracted capacity, not speculative build: Through Lyken, FingerMotion gains access to an established vendor and supply ecosystem -- including previously disclosed relationships with Nvidia, Dell Technologies Canada and established data centre providers -- allowing the company to offer enterprise customers GPU and cloud compute capacity without first committing balance sheet to greenfield construction. Capacity is contracted against demand rather than built ahead of it.
• A managed service, not a hardware rental: The company's intended offering spans compute, secure storage, private low-latency networking and enterprise deployment support, delivered as an integrated service with defined performance and support obligations. FingerMotion believes the enterprise segment will consolidate around providers that take responsibility for the outcome, not only for the instance.
• Telecommunications-grade operating discipline: FingerMotion's core business is built on carrier-grade systems where uptime, throughput, provisioning and settlement are contractual obligations measured in real time. The company intends to apply the same operating discipline -- service-level accountability, capacity planning and transaction integrity at volume -- to enterprise compute delivery.
• Distribution through existing enterprise and carrier relationships: FingerMotion expects to introduce enterprise compute and artificial intelligence infrastructure services into its existing commercial channels and enterprise relationships and to explore joint go-to-market activity with Lyken across both companies' networks. The company also intends to evaluate opportunities where its own data and analytic workloads can be run on the platform, aligning internal demand with third party capacity.
• Cost of power as a source of durable margin: Compute economics are ultimately energy economics. FingerMotion intends to prioritize capacity sourced from low-cost, reliable and, where available, behind-the-meter power configurations, on the view that long-term competitiveness in enterprise compute will be determined by delivered cost per kilowatt-hour as much as by hardware generation.

"We are not trying to outbuild the hyperscalers," added Ms. Kahn. "We are building the layer the enterprise market is actually asking for -- capacity that is contracted, connectivity that is private and predictable, deployment support from people who have run production systems, and a cost base anchored in power we can price over the long term. We believe those four factors are what turn a pilot into a production workload, and that is the segment we intend to fulfill."

Transaction highlights:

• Strategic entry point: FingerMotion becomes a strategic minority shareholder in an operating enterprise cloud compute business, with the stated intention of expanding its participation over time.
• Capital efficiency: Consideration of $500,000 is payable entirely in FingerMotion equity. No cash consideration is payable at closing, preserving the company's liquidity for commercial deployment.
• Aligned counterparty: Alset AI is expected to retain 90.1 per cent of Lyken and will hold FingerMotion common shares following closing, aligning both companies to the growth of the platform.
• Established 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.
• Existing enterprise traction: Lyken has a previously announced cloud compute service relationship with a leading multinational technology and telecommunications company.

Alset AI perspective

"FingerMotion's investment adds a strategically aligned, Nasdaq-listed shareholder as Lyken advances its cloud compute opportunity pipeline," said Adam Ingrao, chief executive officer of Alset AI. "We see clear synergies between Lyken's infrastructure and vendor ecosystem and FingerMotion's enterprise reach."

Market backdrop

Independent industry forecasts continue to point to sustained demand for data centre and AI 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 and are not assurances of demand for Lyken's or FingerMotion's services or of either company's future performance.

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.

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