US$500,000 FNGR Share Consideration Implies Approximately US$5M Lyken Equity Value Based on Transaction Price

VANCOUVER, BC / ACCESS Newswire / August 17, 2026 / Alset AI Ventures Inc. (TSXV:GPUS)(OTCQB:GPUSF)(FSE:1R61)(WKN:A40M0J) ("Alset AI", "Alset" or the "Company"), an artificial intelligence ("AI") venture company advancing innovation through strategic investment and cloud computing solutions, is pleased to announce that it has completed the previously announced sale to FingerMotion, Inc. (Nasdaq:FNGR) ("FingerMotion") of 99,000 common shares of Lyken AI Computing Inc., operating as Lyken.AI ("Lyken"), representing 9.9% of Lyken's 1,000,000 issued and outstanding common shares (the "Transaction").

As consideration for the Transaction, FingerMotion issued to Alset 1,674,480 FingerMotion common shares (the "FingerMotion Shares"). The number of FingerMotion Shares was determined under the share purchase agreement dated August 12, 2026, using US$500,000 and the applicable Nasdaq closing price. No cash consideration was paid. Following closing, Alset retains a 90.1% controlling interest in Lyken. The FingerMotion Shares are restricted from trading for a period of six months following closing in accordance with the terms of the Agreement.

The Transaction qualifies as an Exempt Transaction for the Company under TSX Venture Exchange (the "TSXV") Policy 5.3 - Acquisitions and Dispositions of Non-Cash Assets. Accordingly, the TSXV acceptance was not required, and the Transaction has closed. The Transaction was arm's length, and no finder's fees were payable in connection with the Transaction.

"Closing this transaction provides Alset with a meaningful third-party valuation marker for Lyken and adds a strategically aligned, Nasdaq-listed shareholder," said Adam Ingrao, Chief Executive Officer of Alset AI. "Alset retains a 90.1% controlling interest in Lyken while also gaining exposure to FingerMotion through the shares received. We look forward to building on Lyken's vendor ecosystem, enterprise traction and cloud compute opportunity pipeline."

About Lyken.AI

Lyken.AI is Alset AI's cloud compute business, providing access to outsourced cloud compute server capacity and related technical coordination and support services. Lyken is developing an integrated offering spanning compute infrastructure, secure storage, private low-latency networking and enterprise deployment support. For more information, please visit www.lyken.ai.

About FingerMotion, Inc.

FingerMotion, Inc. (Nasdaq:FNGR) is a technology company serving a growing base of users across the mobile payment, recharge, and data-analytics markets in the People's Republic of China. The Company continues to develop new tools and services for those users, with the long-term objective of expanding that base organically into a large and highly engaged community - scale the Company believes will support relationships with larger, higher-value customers over time. The Company also evaluates emerging technologies for adjacent opportunities.

FingerMotion has extended that strategy into the enterprise AI and cloud compute market through its equity position in Lyken AI Computing Inc.

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.

For further information about Alset AI Ventures Inc., please contact:

Investor Relations

Adam Ingrao
Chief Executive Officer
T: 236.312.6744
E: ir@alsetai.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note regarding Forward-Looking Statements

This press release may contain certain forward-looking statements and forward-looking information (collectively, "forward-looking statements") regarding the Company, including statements relating to the expected strategic relationship among Alset, Lyken and FingerMotion; potential collaboration and access to complementary vendors, customers, technology, data, networks and commercial opportunities; Lyken's pipeline, growth, customer relationships, vendor ecosystem, cloud compute capacity, integrated service offering and ability to execute and scale; the value and future disposition of the FingerMotion Shares; and the strategic direction and business plans of Alset, Lyken and FingerMotion.

Forward-looking statements normally contain words such as "will", "intend", "anticipate", "could", "should", "may", "might", "expect", "estimate", "plan", "potential", "believe", "target", "continue" and similar terms. Such statements are subject to risks and uncertainties, including fluctuations in FingerMotion's share price and foreign-exchange rates; restrictions on the transfer or resale of the FingerMotion Shares; the risk that the value of the FingerMotion Shares may be less than US$500,000 when the trading restriction lapses or upon disposition; the risk that the transaction-implied equity value of Lyken may not reflect the actual fair market value of Lyken; the parties' ability to identify and implement commercially viable collaboration opportunities; customer non-renewal or delayed purchasing decisions; vendor or data-centre capacity constraints; competition, pricing pressure, technological change and changes in applicable laws. Actual results may differ materially.

All forward-looking statements are expressly qualified by these cautionary statements and are made as of the date of this press release. Alset undertakes no obligation to update or revise them, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Risks and uncertainties concerning the Company's business are discussed under "Risks and Uncertainties" in its most recent Management's Discussion and Analysis and other disclosure documents available on SEDAR+ at www.sedarplus.ca.

SOURCE: Alset AI Ventures Inc.