Mr. Adam Ingrao reportsr

ALSET AI COMPLETES SALE OF 9.9% INTEREST IN LYKEN AI COMPUTING TO FINGERMOTION

Alset AI Ventures Inc. has completed the previously announced sale to FingerMotion Inc. (Nasdaq: FNGR) of 99,000 common shares of Lyken AI Computing Inc., operating as Lyken.AI, representing 9.9 per cent of Lyken's one million issued and outstanding common shares.

As consideration for the transaction, FingerMotion issued to Alset 1,674,480 FingerMotion common shares. The number of FingerMotion shares was determined under the share purchase agreement dated Aug. 12, 2026, using $500,000 (U.S.) and the applicable Nasdaq closing price. No cash consideration was paid. Following closing, Alset retains a 90.1-per-cent 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 Policy 5.3 -- Acquisitions and Dispositions of Non-Cash Assets. Accordingly, the TSX-V acceptance was not required, and the transaction has closed. The transaction was arm's length, and no finders' 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-per-cent 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 co-ordination and support services. Lyken is developing an integrated offering spanning compute infrastructure, secure storage, private low-latency networking and enterprise deployment support.

About FingerMotion Inc.

FingerMotion 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 artificial-intelligence-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.