Alset Capital Inc. is a publicly traded company: TSXV:KSUM | OTC:ALSCF | FSE:1R60, WKN:A3ESVQ

Alset Capital Inc. Announces Proposed Share Consolidation

August 8, 2023 – Vancouver, Canada – ALSET CAPITAL INC. (TSX-V:KSUM.H) (“ALSET” or the “Company”) announces that it intends to consolidate its the common shares in the capital of the Company (the “Common Shares”) on the basis of two (2) pre-consolidation Common Shares for every one (1) post- consolidation Common Shares (the “Consolidation”).

The Company currently has 26,311,851 Common Shares issued and outstanding, and following the Consolidation, the Company will have approximately 13,155,925 Common Shares issued and outstanding, prior to rounding for fractional shares.

The Consolidation was approved by the board of directors of the Company, in accordance with the Articles of the Company, but remains subject to the approval of the NEX board of the TSX Venture Exchange (the “Exchange”). The Company will issue a further news release upon receiving Exchange approval, announcing the effective date of the Consolidation.

On behalf of ALSET CAPITAL INC.,

Morgan Good, Chief Executive Officer

For further information, please contact: Morgan Good
t: 604.715.4751

Neither 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.

Forward-looking Statements: Certain statements in this press release are “forward-looking statements” which reflect the Company’s current expectations and projections about future events and financial trends that it believes might affect its financial condition, results of operations, business strategy and financial needs. In some cases, these forward-looking statements can be identified by words or phrases such as “may”, “might”, “will”, “expect”, “anticipate”, “estimate”, “intend”, “plan”, “indicate”, “seek”, “believe”, “estimates”, “predicts” or “likely”, or the negative of these terms, or other similar expressions intended to identify forward-looking statements. Whether actual results, performance or achievements will conform to the Company’s expectations and predictions is subject to a number of known and unknown risks, uncertainties, assumptions and other factors, including without limitation, those risks and uncertainties discussed elsewhere on the website at and in the Company’s filings on SEDAR+. Investors should not place undue reliance on forward-looking information. The forward-looking information contained herein is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.