Mobile-health Network Solutions Announces Updated MOU for Acquisition of Malaysian AI Data Centers

Singapore, Singapore--(Newsfile Corp. - March 20, 2026) - Mobile-health Network Solutions (NASDAQ:MNDR) ("MNDR" or the "Company"), a leading AI HealthTech platform today announced the signing of a Strategic Cooperation Memorandum of Understanding ("Strategic MOU") dated March 15, 2026. This agreement updates the framework established on November 19, 2025, for the acquisition of PP GRID SDN. BHD. ("PPG") and its development of high-density artificial intelligence (AI) data centers in Sarawak, Malaysia.

According to the updated Strategic Cooperation MOU, signed on March 15, 2026, with PPG's sole shareholder, Mr. Dato' Ling Tiung Leng (Stanley Ling), MNDR will acquire 100 percent of PPG, including all AI data center assets, from Mr. Ling. In connection with this acquisition, Mr. Ling will facilitate a capital injection of MYR500 million (about US$127 million) to be utilized for the construction of these data centers.

In exchange for the PPG assets and the MYR500 million capital injection, Mr. Ling shall receive a 65 percent equity stake in MNDR.

The existing MNDR founders will retain majority voting control through their Class B shares.

As part of the transaction, MNDR will independently raise at least US$100 million to finance the future data center development and add value to the merger.

The Strategic Cooperation MOU is non-binding and subject to definitive agreement.

This Strategic Cooperation MOU served as the critical update to reflect current restructuring and funding needs. While the MOUs established the "ProjectCo" framework and broad equity swap terms, they led directly to the definitive Sale and Purchase Agreement (SPA) executed on March 16, 2026.

"This updated MOU framework better positions MNDR to secure critical AI computing capacity," said Mobile-health Network Solutions Co-CEO Dr. Siaw Tung Yeng. "We believe this acquisition will provide the linchpin for our global expansion, allowing us to reduce long-term costs for our AI-powered health ecosystem while launching new services like Token as a Service (TaaS) and Healthcare Platform as a Service (APaaS)."

Mr. Ling added, "This revised agreement advances our shared vision to scale AI data center capacity across our region. By contributing these assets to a consolidated platform with MNDR, we can accelerate development timelines and attract the institutional capital necessary for high-density compute expansion."

As stipulated in the original MOU signed last November, PPG remains responsible for securing all licenses, permits, approvals, and land rights necessary to construct and operate the data centers and related infrastructure, with MNDR retaining majority voting control post-transaction.

The updated MOU is subject to customary conditions precedent, including an independent valuation by a mutually agreed valuer to confirm the appropriateness of the share allocation. Completion is also subject to satisfactory legal and financial due diligence, regulatory approvals, and the execution of a Definitive Share Purchase Agreement (SPA).

About Mobile-health Network Solutions

Mobile-health Network Solutions is a leading AI-powered digital health platform headquartered in Singapore, with operations across Southeast Asia and expanding into the US. The company provides telemedicine, AI-driven health tools, and virtual clinic infrastructure to empower patients and doctors worldwide. Its mission is to make healthcare accessible, intelligent, and human - through technology. For more information, please visit our website.

Forward-Looking Statements

Certain statements contained in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements relating to financial and business prospects, anticipated benefits of the Company's transition to an asset-light platform, the Company's goals and future activity, including continued development of proprietary technologies, strategic partnerships, and its capital initiatives. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company's ability to execute our strategies, manage growth and maintain our corporate culture; the Company's future business development, financial conditions and results of operations; expectations regarding demand for and market acceptance of our products and services; changes in technology; economic conditions; the growth of the telehealth solutions industry in Singapore and the other international markets the Company plans to serve; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions in Singapore and the international markets the Company plans to serve and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Any forward-looking statements contained in this press release speak only as of the date hereof, and Mobile-health Network Solutions specifically disclaims any obligation to update any forward-looking statement, whether because of new information, future events or otherwise, except as required by law.

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