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

VANCOUVER, BC / ACCESS Newswire / August 13, 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 entered into a share purchase agreement dated August 12, 2026 (the "Agreement") with FingerMotion, Inc. (Nasdaq:FNGR) ("FingerMotion") and Lyken AI Computing Inc., operating as Lyken.AI ("Lyken"), pursuant to which FingerMotion has agreed to acquire from Alset, 99,000 common shares of Lyken, representing 9.9% of Lyken's 1,000,000 issued and outstanding common shares immediately before closing (the "Transaction"). The Transaction has not closed and remains subject to the acceptance of the TSXV (as defined below).

In connection with the Transaction, FingerMotion will issue to Alset on closing a total of 1,674,480 FingerMotion common shares (the "FingerMotion Shares"). The amount of FingerMotion Shares was determined by dividing US$500,000 by the sum of (i) the Nasdaq quoted official closing price of one FingerMotion Share on the trading day immediately preceding the date of the Agreement; and (ii) US$0.01, fractional FingerMotion Shares were rounded down to the nearest whole FingerMotion Share. No cash consideration is payable. Following closing, Alset is expected to retain 90.1% of Lyken, and no securities of Alset will be issued in connection with the Transaction. The FingerMotion Shares are restricted from trading for a period of six months following the closing date.

Completion of the Transaction remains subject to the receipt of final acceptance from the TSXV, and the Transaction will not be completed until such acceptance has been received. There can be no assurance that the TSXV will accept the Transaction, or that it will do so on the terms described in this news release. The Transaction is arms-length and no finder's fees are payable in connection with the Transaction.

"This transaction gives us a meaningful third-party valuation marker for Lyken," said Adam Ingrao, Chief Executive Officer of Alset AI. "FingerMotion's ownership adds a strategically aligned, Nasdaq-listed shareholder as Lyken seeks to advance its cloud compute opportunity pipeline. Alset will also receive FingerMotion shares, which may create an additional avenue for participation in the relationship while Lyken continues to build on its vendor ecosystem and enterprise customer traction."

"We believe Lyken provides an initial differentiated opportunity to participate in the expanding AI and cloud compute ecosystem," said Jolie Kahn, Chief Executive Officer of FingerMotion. "We believe that Lyken's vendor relationships, commercial experience and opportunity pipeline provides a foundation for collaboration. This minority investment is intended to give FingerMotion exposure to Lyken's platform while allowing both companies to evaluate areas where their capabilities and networks may provide further synergies."

Transaction Highlights

• Strategic alignment: FingerMotion is expected to become a strategic minority shareholder as Lyken seeks to advance its cloud compute opportunity pipeline.

• 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.

• Enterprise traction: Lyken has a previously announced cloud compute services relationship with a leading multinational technology and telecommunications company.

FingerMotion's minority investment is intended to align the companies around Lyken's growth potential and give FingerMotion strategic exposure to Lyken's vendor ecosystem, cloud compute capabilities, customer experience and client opportunity pipeline. The parties expect to explore areas in which their respective technology, data, and commercial capabilities may be complementary.

Following completion of the Transaction, Lyken will continue to operate independently and retain its current revenues to fund growth, while Alset participates through its 90.1% controlling interest. The Transaction is consistent with Alset's ordinary-course activities and stated objectives as an investment issuer, including portfolio development and value realization.

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 TWh in 2025 to 950 TWh in 2030, while electricity consumption attributable to AI-focused data centres is projected to triple over the same period.¹ These forecasts are third-party estimates that have not been independently verified by the Company and are not assurances of demand for Lyken's services or of Lyken's future performance. The Company disclaims responsibility for the accuracy of such third-party estimates.

¹ International Energy Agency, "Key Questions on Energy and AI - Executive Summary" (2026), https://www.iea.org/reports/key-questions-on-energy-and-ai/executive-summary.

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 indicated it is extending that strategy into the enterprise AI and cloud compute market through its proposed 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 Transaction; the anticipated terms, consideration, timing and completion of the Transaction; the number, value, listing and resale status of the FingerMotion shares; the implied equity value of Lyken based on the Transaction consideration; the expected retention by Alset of a 90.1% interest in Lyken; the expectation that no securities of Alset will be issued in connection with the Transaction; the receipt of TSXV acceptance of the Transaction and the anticipated timing thereof; the anticipated absence of shareholder approval; the expected strategic relationship among Alset, Lyken and FingerMotion; the parties' ability to collaborate and obtain access to complementary vendors, customers, technology, data, networks and commercial opportunities; Lyken's pipeline, growth, customer relationships, renewals, vendor ecosystem, cloud compute capacity, integrated service offering under development and ability to execute and scale; third-party industry forecasts regarding demand for data-centre and AI compute capacity, including projections of future electricity consumption; the accounting, tax and valuation implications of the Transaction; 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", "forecast", "plan", "potential", "project", "assume", "contemplate", "believe", "target", "continue", "position" and similar terms. These statements are predictions based on assumptions, including that the parties will finalize and perform the Agreement as contemplated; required corporate, exchange and regulatory matters will be completed; the parties will be able to identify and implement commercially viable collaboration opportunities; Lyken will maintain access to vendors, infrastructure and customers; Lyken will continue to operate independently; and general economic, capital-market, technology and regulatory conditions will not change materially.

Forward-looking statements are not guarantees of future performance, actions or developments. Actual results could differ materially due to risks and uncertainties including the failure to obtain TSXV acceptance of the Transaction or delays in obtaining such acceptance; the failure to satisfy closing conditions; the risk that the Transaction is not completed on the terms described in this news release or at all; fluctuations in FingerMotion's share price or foreign-exchange rates; the risk that the value of FingerMotion Shares to be received may be less than US$500,000 when restrictions lapse or upon disposition; the risk that the transaction-implied equity value of Lyken may not reflect actual fair market value; restrictions on the issuance, listing, transfer or resale of FingerMotion shares; changes in TSXV, Nasdaq or securities-law requirements; customer non-renewal, termination or delayed purchasing decisions; vendor or data-centre capacity constraints; inability to convert pipeline opportunities into binding contracts; competition, pricing pressure and technological change; third-party consent and confidentiality limitations; the value of Alset's retained Lyken interest differing from the transaction-implied value; and different accounting or tax outcomes than expected. This list is not exhaustive. Many factors are beyond the control of Alset, Lyken and FingerMotion.

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.