AEI

On September 12, 2025, Mr. Chan sold 500,000 shares of the Issuer's common stock at a weighted average sale price of $2.672 per share. This transaction was executed in multiple trades at prices ranging from $2.25 to $3.59. The reporting person hereby undertakes to provide, upon request of the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected.

In addition to the shares of common stock held directly by Mr. Chan, Mr. Chan also indirectly owns 3,875,506 shares of common stock held by HFE Holdings Limited. Mr. Chan has sole voting and investment power with respect to the shares held by HFE Holdings Limited. Mr. Chan is the beneficial owner of 35,198,409 shares of the common stock of Alset Inc.

On August 18, 2025, Mr. Chan acquired 33,000 shares of the Issuer's common stock at a weighted average purchase price of $1.2887 per share. This transaction was executed in multiple trades at prices ranging from $1.19 to $1.42. The reporting person hereby undertakes to provide, upon request of the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected.

In addition to the shares of common stock held directly by Mr. Chan, Mr. Chan also indirectly owns 3,875,506 shares of common stock held by HFE Holdings Limited. Mr. Chan has sole voting and investment power with respect to the shares held by HFE Holdings Limited. Mr. Chan is the beneficial owner of 35,698,409 shares of the common stock of Alset Inc.

On July 23, 2025, in consideration for the acquisition of certain assets, Alset Inc. issued a convertible promissory note (the "Note") to Chan Heng Fai in the amount of $83,000,000. The Note was convertible at a conversion price of $3.00 per share. On July 23, 2025, Mr. Chan converted the entire principal of the Note into 27,666,667 newly issued shares of the Issuer's common stock.

In addition to the shares of common stock held directly by Mr. Chan, Mr. Chan also indirectly owns 3,875,506 shares of common stock held by HFE Holdings Limited. Mr. Chan has sole voting and investment power with respect to the shares held by HFE Holdings Limited. Mr. Chan is the beneficial owner of 35,665,409 shares of the common stock of Alset Inc.

On July 23, 2025, in consideration for the acquisition of certain assets, Alset Inc. issued a convertible promissory note (the "Note") to Chan Heng Fai in the amount of $83,000,000. The Note was convertible at a conversion price of $3.00 per share. On July 23, 2025, Mr. Chan converted the entire principal of the Note into 27,666,667 newly issued shares of the Issuer's common stock.

In addition to the shares of common stock held directly by Mr. Chan, Mr. Chan also indirectly owns 3,875,506 shares of common stock held by HFE Holdings Limited. Mr. Chan has sole voting and investment power with respect to the shares held by HFE Holdings Limited. Mr. Chan is the beneficial owner of 35,665,409 shares of the common stock of Alset Inc.

On July 23, 2025, in consideration for the acquisition of certain assets, Alset Inc. issued a convertible promissory note (the "Note") to Chan Heng Fai in the amount of $83,000,000. The Note was convertible at a conversion price of $3.00 per share. On July 23, 2025, Mr. Chan converted the entire principal of the Note into 27,666,667 newly issued shares of the Issuer's common stock.

On June 30, 2025, Mr. Chan acquired 280,000 shares of the Issuer's common stock at a weighted average purchase price of $1.20 per share. This transaction was executed in multiple trades at prices ranging from $0.984 to $1.30. The reporting person hereby undertakes to provide, upon request of the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected.

In addition to the shares of common stock held directly by Mr. Chan, Mr. Chan also indirectly owns 3,875,506 shares of common stock held by HFE Holdings Limited. Mr. Chan has sole voting and investment power with respect to the shares held by HFE Holdings Limited. Mr. Chan is the beneficial owner of 7,998,742 shares of the common stock of Alset Inc.

On April 15, 2025, the Board of Directors of Alset Inc. (the "Company") awarded the Company's Chairman and Chief Executive Officer Chan Heng Fai 1,000,000 shares of the Company's common stock (the "Shares"). The Shares were granted to Mr. Chan as compensation for services rendered to the Company pursuant to the Company's 2025 Incentive Compensation Plan, as adopted on March 17, 2025.

In addition to the shares of common stock held directly by Mr. Chan, Mr. Chan also indirectly owns 3,875,506 shares of common stock held by HFE Holdings Limited. Mr. Chan has sole voting and investment power with respect to the shares held by HFE Holdings Limited. Mr. Chan is the beneficial owner of 7,718,742 shares of the common stock of Alset Inc.

On April 4, 2025, Global Biomedical Pte. Ltd. sold 180,000 shares of the Issuer's common stock at a weighted average sale price of $0.96 This transaction was executed in multiple trades at prices ranging from $0.93 to $0.997. The reporting person hereby undertakes to provide, upon request of the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected.

Mr. Chan is, personally and through an entity he controls, the majority shareholder of Alset Inc., and the Chairman and Chief Executive Officer of Alset Inc. Alset International Limited is a majority owned subsidiary of Alset Inc. Mr. Chan now may be deemed to be the beneficial owner of the 351,555 shares of common stock held by Alset International Limited.

On April 3, 2025, Global Biomedical Pte. Ltd. sold 273,286 shares of the Issuer's common stock at a weighted average sale price of $0.779. This transaction was executed in multiple trades at prices ranging from $0.75 to $0.84. The reporting person hereby undertakes to provide, upon request of the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected.

Mr. Chan is, personally and through an entity he controls, the majority shareholder of Alset Inc., and the Chairman and Chief Executive Officer of Alset Inc. Alset International Limited is a majority owned subsidiary of Alset Inc. Mr. Chan now may be deemed to be the beneficial owner of the 351,555 shares of common stock held by Alset International Limited.

On April 3, 2025, Alset Inc. sold 351,631 shares of the Issuer's common stock at a weighted average sale price of $0.579. This transaction was executed in multiple trades at prices ranging from $0.50 to $0.73. The reporting person hereby undertakes to provide, upon request of the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected.

Mr. Chan is, personally and through an entity he controls, the majority shareholder of Alset Inc., and the Chairman and Chief Executive Officer of Alset Inc. Alset International Limited is a majority owned subsidiary of Alset Inc. Mr. Chan now may be deemed to be the beneficial owner of the 351,555 shares of common stock held by Alset International Limited.

On April 2, 2025, Alset International Limited sold 2,349 shares of the Issuer's common stock at a weighted average sale price of $0.673. The reporting person hereby undertakes to provide, upon request of the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected.

Mr. Chan is, personally and through an entity he controls, the majority shareholder of Alset Inc., and the Chairman and Chief Executive Officer of Alset Inc. Alset International Limited is a majority owned subsidiary of Alset Inc. Mr. Chan now may be deemed to be the beneficial owner of the 351,555 shares of common stock held by Alset International Limited.

On April 2, 2025, Alset Inc. sold 382,427 shares of the Issuer's common stock at a weighted average sale price of $0.583. This transaction was executed in multiple trades at prices ranging from $0.57 to $0.63. The reporting person hereby undertakes to provide, upon request of the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected.

Mr. Chan is, personally and through an entity he controls, the majority shareholder of Alset Inc., and the Chairman and Chief Executive Officer of Alset Inc. Alset International Limited is a majority owned subsidiary of Alset Inc. Mr. Chan now may be deemed to be the beneficial owner of the 351,555 shares of common stock held by Alset International Limited.

On April 2, 2025, Alset International Limited sold 200,000 shares of the Issuer's common stock at a weighted average sale price of $0.674. This transaction was executed in multiple trades at prices ranging from $0.67 to $0.80. The reporting person hereby undertakes to provide, upon request of the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected.

Mr. Chan is, personally and through an entity he controls, the majority shareholder of Alset Inc., and the Chairman and Chief Executive Officer of Alset Inc. Alset International Limited is a majority owned subsidiary of Alset Inc. Mr. Chan now may be deemed to be the beneficial owner of the 351,555 shares of common stock held by Alset International Limited.

On April 2, 2025, Alset International Limited sold 300,000 shares of the Issuer's common stock at a weighted average sale price of $0.581. This transaction was executed in multiple trades at prices ranging from $0.551 to $0.607. The reporting person hereby undertakes to provide, upon request of the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected.

Mr. Chan is, personally and through an entity he controls, the majority shareholder of Alset Inc., and the Chairman and Chief Executive Officer of Alset Inc. Alset International Limited is a majority owned subsidiary of Alset Inc. Mr. Chan now may be deemed to be the beneficial owner of the 351,555 shares of common stock held by Alset International Limited.

On April 1, 2025, Alset International Limited sold 400,000 shares of the Issuer's common stock at a weighted average sale price of $0.9816. This transaction was executed in multiple trades at prices ranging from $0.6938 to $1.36. The reporting person hereby undertakes to provide, upon request of the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected.

Mr. Chan is, personally and through an entity he controls, the majority shareholder of Alset Inc., and the Chairman and Chief Executive Officer of Alset Inc. Alset International Limited is a majority owned subsidiary of Alset Inc. Mr. Chan now may be deemed to be the beneficial owner of an aggregate of 2,041,248 shares of common stock through the following entities: (a) 453,286 shares of common stock held by Global Biomedical Pte. Ltd. (a subsidiary of Alset International Limited); (b) 853,904 shares of common stock held by Alset International Limited; and (c) 734,058 shares of common stock held by Alset Inc.

On April 1, 2025, Alset Inc. sold 1,176,918 shares of the Issuer's common stock at a weighted average sale price of $1.08. The reporting person hereby undertakes to provide, upon request of the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected.

Mr. Chan is, personally and through an entity he controls, the majority shareholder of Alset Inc., and the Chairman and Chief Executive Officer of Alset Inc. Alset International Limited is a majority owned subsidiary of Alset Inc. Mr. Chan now may be deemed to be the beneficial owner of an aggregate of 2,041,248 shares of common stock through the following entities: (a) 453,286 shares of common stock held by Global Biomedical Pte. Ltd. (a subsidiary of Alset International Limited); (b) 853,904 shares of common stock held by Alset International Limited; and (c) 734,058 shares of common stock held by Alset Inc.

On April 1, 2025, Alset Inc. sold 650,000 shares of the Issuer's common stock at a weighted average sale price of $1.447. The reporting person hereby undertakes to provide, upon request of the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected.

Mr. Chan is, personally and through an entity he controls, the majority shareholder of Alset Inc., and the Chairman and Chief Executive Officer of Alset Inc. Alset International Limited is a majority owned subsidiary of Alset Inc. Mr. Chan now may be deemed to be the beneficial owner of an aggregate of 2,041,248 shares of common stock through the following entities: (a) 453,286 shares of common stock held by Global Biomedical Pte. Ltd. (a subsidiary of Alset International Limited); (b) 853,904 shares of common stock held by Alset International Limited; and (c) 734,058 shares of common stock held by Alset Inc.

On March 31, 2025, Alset International Limited sold 300,000 shares of the Issuer's common stock at a weighted average sale price of $1.028. This transaction was executed in multiple trades at prices ranging from $0.82 to $1.29. The reporting person hereby undertakes to provide, upon request of the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected.

Mr. Chan is, personally and through an entity he controls, the majority shareholder of Alset Inc., and the Chairman and Chief Executive Officer of Alset Inc. Alset International Limited is a majority owned subsidiary of Alset Inc. Mr. Chan now may be deemed to be the beneficial owner of an aggregate of 2,041,248 shares of common stock through the following entities: (a) 453,286 shares of common stock held by Global Biomedical Pte. Ltd. (a subsidiary of Alset International Limited); (b) 853,904 shares of common stock held by Alset International Limited; and (c) 734,058 shares of common stock held by Alset Inc.

Please refer to Remarks, below.

Held by Alset Inc. Mr. Chan is, personally and through an entity he controls, the majority shareholder of Alset Inc., and the Chairman and Chief Executive Officer of Alset Inc. The Reporting Person has dispositive control over these securities.

On February 13, 2025, Mr. Chan acquired 50,000 shares of the Issuer's common stock at a weighted average purchase price of $1.23 per share. This transaction was executed in multiple trades at prices ranging from $1.16 to $1.29. The reporting person hereby undertakes to provide, upon request of the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected.

In addition to the shares of common stock held directly by Mr. Chan, Mr. Chan also indirectly owns 319,000 shares of common stock held by HFE Holdings Limited. Mr. Chan has sole voting and investment power with respect to the shares held by HFE Holdings Limited. Mr. Chan is the beneficial owner of 6,718,742 shares of the common stock of Alset Inc.

On February 12, 2025, Mr. Chan acquired 20,244 shares of the Issuer's common stock at a weighted average purchase price of $1.07 per share. The reporting person hereby undertakes to provide, upon request of the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected.

In addition to the shares of common stock held directly by Mr. Chan, Mr. Chan also indirectly owns 319,000 shares of common stock held by HFE Holdings Limited. Mr. Chan has sole voting and investment power with respect to the shares held by HFE Holdings Limited. Mr. Chan is the beneficial owner of 6,668,742 shares of the common stock of Alset Inc.

On February 7, 2025, Mr. Chan acquired 150,000 shares of the Issuer's common stock at a weighted average purchase price of $1.03 per share. The reporting person hereby undertakes to provide, upon request of the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected.

In addition to the shares of common stock held directly by Mr. Chan, Mr. Chan also indirectly owns 319,000 shares of common stock held by HFE Holdings Limited. Mr. Chan has sole voting and investment power with respect to the shares held by HFE Holdings Limited. Mr. Chan is the beneficial owner of 6,648,498 shares of the common stock of Alset Inc.

On February 6, 2025, Mr. Chan acquired 141,060 shares of the Issuer's common stock at a weighted average purchase price of $0.99 per share. The reporting person hereby undertakes to provide, upon request of the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected.

In addition to the shares of common stock held directly by Mr. Chan, Mr. Chan also indirectly owns 319,000 shares of common stock held by HFE Holdings Limited. Mr. Chan has sole voting and investment power with respect to the shares held by HFE Holdings Limited. Mr. Chan is the beneficial owner of 6,648,498 shares of the common stock of Alset Inc.

On January 27, 2025, Mr. Chan acquired 100,000 shares of the Issuer's common stock at a weighted average purchase price of $0.93 per share. The reporting person hereby undertakes to provide, upon request of the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected.

In addition to the shares of common stock held directly by Mr. Chan, Mr. Chan also indirectly owns 319,000 shares of common stock held by HFE Holdings Limited. Mr. Chan has sole voting and investment power with respect to the shares held by HFE Holdings Limited. Mr. Chan is the beneficial owner of 6,357,438 shares of the common stock of Alset Inc.

On January 22, 2025, Mr. Chan acquired 50,000 shares of the Issuer's common stock. This transaction was executed in multiple trades at prices ranging from $0.82 to $0.86. The price reported above reflects the weighted average purchase price. The reporting person hereby undertakes to provide, upon request of the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected.

In addition to the shares of common stock held directly by Mr. Chan, Mr. Chan also indirectly owns 319,000 shares of common stock held by HFE Holdings Limited. Mr. Chan has sole voting and investment power with respect to the shares held by HFE Holdings Limited. Mr. Chan is the beneficial owner of 6,257,438 shares of the common stock of Alset Inc.

On August 22, 2024, Mr. Chan acquired 12,867 shares of the Issuer's common stock. This transaction was executed in multiple trades at prices ranging from $1.10 to $1.20. The price reported above reflects the weighted average purchase price. The reporting person hereby undertakes to provide, upon request of the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected.

In addition to the shares of common stock held directly by Mr. Chan, Mr. Chan also indirectly owns 319,000 shares of common stock held by HFE Holdings Limited. Mr. Chan has sole voting and investment power with respect to the shares held by HFE Holdings Limited. Mr. Chan is the beneficial owner of 6,207,438 shares of the common stock of Alset Inc.

On August 20, 2024, Mr. Chan acquired 2,983 shares of the Issuer's common stock. This transaction was executed in multiple trades at prices ranging from $0.91 to $0.96. The price reported above reflects the weighted average purchase price. The reporting person hereby undertakes to provide, upon request of the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected.

In addition to the shares of common stock held directly by Mr. Chan, Mr. Chan also indirectly owns 319,000 shares of common stock held by HFE Holdings Limited. Mr. Chan has sole voting and investment power with respect to the shares held by HFE Holdings Limited. Mr. Chan is the beneficial owner of 6,194,571 shares of the common stock of Alset Inc.

On August 19, 2024, Mr. Chan acquired 20,000 shares of the Issuer's common stock. This transaction was executed in multiple trades at prices ranging from $0.94 to $0.97. The price reported above reflects the weighted average purchase price. The reporting person hereby undertakes to provide, upon request of the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected.

In addition to the shares of common stock held directly by Mr. Chan, Mr. Chan also indirectly owns 319,000 shares of common stock held by HFE Holdings Limited. Mr. Chan has sole voting and investment power with respect to the shares held by HFE Holdings Limited. Mr. Chan is the beneficial owner of 6,191,588 shares of the common stock of Alset Inc.

On August 16, 2024, Mr. Chan acquired 7,413 shares of the Issuer's common stock. This transaction was executed in multiple trades at prices ranging from $0.86 to $0.94. The price reported above reflects the weighted average purchase price. The reporting person hereby undertakes to provide, upon request of the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected.

In addition to the shares of common stock held directly by Mr. Chan, Mr. Chan also indirectly owns 319,000 shares of common stock held by HFE Holdings Limited. Mr. Chan has sole voting and investment power with respect to the shares held by HFE Holdings Limited. Mr. Chan is the beneficial owner of 6,191,588 shares of the common stock of Alset Inc.

On June 27, 2024, Mr. Chan acquired 120,000 shares of the Issuer's common stock. This transaction was executed in multiple trades at prices ranging from $1.52 to $2.01. The price reported above reflects the weighted average purchase price. The reporting person hereby undertakes to provide, upon request of the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected.

In addition to the shares of common stock held directly by Mr. Chan, Mr. Chan also indirectly owns 319,000 shares of common stock held by HFE Holdings Limited. Mr. Chan has sole voting and investment power with respect to the shares held by HFE Holdings Limited. Mr. Chan is the beneficial owner of 6,164,175 shares of the common stock of Alset Inc.

In addition to the shares of common stock held directly by Mr. Chan, Mr. Chan also indirectly owns 319,000 shares of common stock held by HFE Holdings Limited. Mr. Chan has sole voting and investment power with respect to the shares held by HFE Holdings Limited. Mr. Chan is the beneficial owner of 6,164,175 shares of the common stock of Alset Inc.

In addition to the shares of common stock held directly by Mr. Chan, Mr. Chan also indirectly owns 319,000 shares of common stock held by HFE Holdings Limited. Mr. Chan has sole voting and investment power with respect to the shares held by HFE Holdings Limited. Mr. Chan is the beneficial owner of 6,040,857 shares of the common stock of Alset Inc.

On June 21, 2024, Mr. Chan acquired 47,536 shares of the Issuer's common stock. This transaction was executed in multiple trades at prices ranging from $1.15 to $1.25. The price reported above reflects the weighted average purchase price. The reporting person hereby undertakes to provide, upon request of the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected.

In addition to the shares of common stock held directly by Mr. Chan, Mr. Chan also indirectly owns 319,000 shares of common stock held by HFE Holdings Limited. Mr. Chan has sole voting and investment power with respect to the shares held by HFE Holdings Limited. Mr. Chan is the beneficial owner of 6,039,631 shares of the common stock of Alset Inc.

In addition to the shares of common stock held directly by Mr. Chan, Mr. Chan also indirectly owns 319,000 shares of common stock held by HFE Holdings Limited. Mr. Chan has sole voting and investment power with respect to the shares held by HFE Holdings Limited. Mr. Chan is the beneficial owner of 6,039,631 shares of the common stock of Alset Inc.

In addition to the shares of common stock held directly by Mr. Chan, Mr. Chan also indirectly owns 319,000 shares of common stock held by HFE Holdings Limited. Mr. Chan has sole voting and investment power with respect to the shares held by HFE Holdings Limited. Mr. Chan is the beneficial owner of 5,980,539 shares of the common stock of Alset Inc.

On June 17, 2024, Mr. Chan acquired 42,149 shares of the Issuer's common stock. This transaction was executed in multiple trades at prices ranging from $1.14 to $1.15. The price reported above reflects the weighted average purchase price. The reporting person hereby undertakes to provide, upon request of the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected.

In addition to the shares of common stock held directly by Mr. Chan, Mr. Chan also indirectly owns 319,000 shares of common stock held by HFE Holdings Limited. Mr. Chan has sole voting and investment power with respect to the shares held by HFE Holdings Limited. Mr. Chan is the beneficial owner of 5,930,539 shares of the common stock of Alset Inc.

In addition to the shares of common stock held directly by Mr. Chan, Mr. Chan also indirectly owns 319,000 shares of common stock held by HFE Holdings Limited. Mr. Chan has sole voting and investment power with respect to the shares held by HFE Holdings Limited. Mr. Chan is the beneficial owner of 5,930,539 shares of the common stock of Alset Inc.

On June 12, 2024, Mr. Chan acquired 81,582 shares of the Issuer's common stock. This transaction was executed in multiple trades at prices ranging from $1.04 to $1.10. The price reported above reflects the weighted average purchase price. The reporting person hereby undertakes to provide, upon request of the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected.

In addition to the shares of common stock held directly by Mr. Chan, Mr. Chan also indirectly owns 319,000 shares of common stock held by HFE Holdings Limited. Mr. Chan has sole voting and investment power with respect to the shares held by HFE Holdings Limited. Mr. Chan is the beneficial owner of 5,877,718 shares of the common stock of Alset Inc.

In addition to the shares of common stock held directly by Mr. Chan, Mr. Chan also indirectly owns 319,000 shares of common stock held by HFE Holdings Limited. Mr. Chan has sole voting and investment power with respect to the shares held by HFE Holdings Limited. Mr. Chan is the beneficial owner of 5,877,718 shares of the common stock of Alset Inc.

In addition to the shares of common stock held directly by Mr. Chan, Mr. Chan also indirectly owns 319,000 shares of common stock held by HFE Holdings Limited. Mr. Chan has sole voting and investment power with respect to the shares held by HFE Holdings Limited. Mr. Chan is the beneficial owner of 5,877,718 shares of the common stock of Alset Inc.

On June 10, 2024, Mr. Chan acquired 9,044 shares of the Issuer's common stock. This transaction was executed in multiple trades at prices ranging from $1.01 to $1.02. The price reported above reflects the weighted average purchase price. The reporting person hereby undertakes to provide, upon request of the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected.

In addition to the shares of common stock held directly by Mr. Chan, Mr. Chan also indirectly owns 319,000 shares of common stock held by HFE Holdings Limited. Mr. Chan has sole voting and investment power with respect to the shares held by HFE Holdings Limited. Mr. Chan is the beneficial owner of 5,778,632 shares of the common stock of Alset Inc.

On June 10, 2024, Mr. Chan acquired 7,523 shares of the Issuer's common stock. This transaction was executed in multiple trades at prices ranging from $0.96 to $1.00. The price reported above reflects the weighted average purchase price. The reporting person hereby undertakes to provide, upon request of the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected.

In addition to the shares of common stock held directly by Mr. Chan, Mr. Chan also indirectly owns 319,000 shares of common stock held by HFE Holdings Limited. Mr. Chan has sole voting and investment power with respect to the shares held by HFE Holdings Limited. Mr. Chan is the beneficial owner of 5,778,632 shares of the common stock of Alset Inc.

On June 7, 2024, Mr. Chan acquired 50,000 shares of the Issuer's common stock. This transaction was executed in multiple trades at prices ranging from $1.04 to $1.10. The price reported above reflects the weighted average purchase price. The reporting person hereby undertakes to provide, upon request of the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected.

In addition to the shares of common stock held directly by Mr. Chan, Mr. Chan also indirectly owns 319,000 shares of common stock held by HFE Holdings Limited. Mr. Chan has sole voting and investment power with respect to the shares held by HFE Holdings Limited. Mr. Chan is the beneficial owner of 5,778,632 shares of the common stock of Alset Inc.

On June 6, 2024, Mr. Chan acquired 6,753 shares of the Issuer's common stock. This transaction was executed in multiple trades at prices ranging from $1.00 to $1.30. The price reported above reflects the weighted average purchase price. The reporting person hereby undertakes to provide, upon request of the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected.

In addition to the shares of common stock held directly by Mr. Chan, Mr. Chan also indirectly owns 319,000 shares of common stock held by HFE Holdings Limited. Mr. Chan has sole voting and investment power with respect to the shares held by HFE Holdings Limited. Mr. Chan is the beneficial owner of 5,712,065 shares of the common stock of Alset Inc.

On June 5, 2024, Mr. Chan acquired 2,240 shares of the Issuer's common stock. This transaction was executed in multiple trades at prices ranging from $1.22 to $1.28. The price reported above reflects the weighted average purchase price. The reporting person hereby undertakes to provide, upon request of the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected.

In addition to the shares of common stock held directly by Mr. Chan, Mr. Chan also indirectly owns 319,000 shares of common stock held by HFE Holdings Limited. Mr. Chan has sole voting and investment power with respect to the shares held by HFE Holdings Limited. Mr. Chan is the beneficial owner of 5,705,312 shares of the common stock of Alset Inc.

On June 4, 2024, Mr. Chan acquired 26,964 shares of the Issuer's common stock. This transaction was executed in multiple trades at prices ranging from $1.08 to $1.10. The price reported above reflects the weighted average purchase price. The reporting person hereby undertakes to provide, upon request of the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected.

In addition to the shares of common stock held directly by Mr. Chan, Mr. Chan also indirectly owns 319,000 shares of common stock held by HFE Holdings Limited. Mr. Chan has sole voting and investment power with respect to the shares held by HFE Holdings Limited. Mr. Chan is the beneficial owner of 5,705,312 shares of the common stock of Alset Inc.

On June 3, 2024, Mr. Chan acquired 12,337 shares of the Issuer's common stock. This transaction was executed in multiple trades at prices ranging from $0.96 to $0.99. The price reported above reflects the weighted average purchase price. The reporting person hereby undertakes to provide, upon request of the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected.

In addition to the shares of common stock held directly by Mr. Chan, Mr. Chan also indirectly owns 319,000 shares of common stock held by HFE Holdings Limited. Mr. Chan has sole voting and investment power with respect to the shares held by HFE Holdings Limited. Mr. Chan is the beneficial owner of 5,676,108 shares of the common stock of Alset Inc.

On May 31, 2024, Mr. Chan acquired 7,975 shares of the Issuer's common stock at a price of $0.91 per share.

In addition to the shares of common stock held directly by Mr. Chan, Mr. Chan also indirectly owns 319,000 shares of common stock held by HFE Holdings Limited. Mr. Chan has sole voting and investment power with respect to the shares held by HFE Holdings Limited. Mr. Chan is the beneficial owner of 5,676,108 shares of the common stock of Alset Inc.

On May 30, 2024, Mr. Chan acquired 11,990 shares of the Issuer's common stock at a price of $0.89 per share.

In addition to the shares of common stock held directly by Mr. Chan, Mr. Chan also indirectly owns 319,000 shares of common stock held by HFE Holdings Limited. Mr. Chan has sole voting and investment power with respect to the shares held by HFE Holdings Limited. Mr. Chan is the beneficial owner of 5,655,796 shares of the common stock of Alset Inc.

On May 29, 2024, Mr. Chan acquired 177,285 shares of the Issuer's common stock. This transaction was executed in multiple trades at prices ranging from $0.85 to $0.884. The price reported above reflects the weighted average purchase price. The reporting person hereby undertakes to provide, upon request of the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares and prices at which the transaction was effected.

In addition to the shares of common stock held directly by Mr. Chan, Mr. Chan also indirectly owns 319,000 shares of common stock held by HFE Holdings Limited. Mr. Chan has sole voting and investment power with respect to the shares held by HFE Holdings Limited. Mr. Chan is the beneficial owner of 5,655,796 shares of the common stock of Alset Inc.