• Pathkey.AI to acquire 100% of Singapore-based Chipforge, an AI-driven semiconductor hardware design and development technology company
• Chipforge's AI platform translates high-level design intent into verified, synthesisable hardware code, shortening chip development cycles
• Significant synergies with PKY's AI trial and drug discovery platform, TrialKey

Pathkey.AI Ltd (ASX: PKY) has entered into a binding share purchase agreement to acquire 100% of Singapore-based Chipforge Pte Ltd (Chipforge), an AI-driven semiconductor hardware design and development technology company. Chipforge is developing an agentic AI platform that translates high-level design intent into verified, synthesisable hardware code, shortening chip development cycles that would otherwise take 12-24 months and multi-million-dollar expenditure. The platform is powered by proprietary agent-based AI architecture, large-language-model functionality and closed-loop reflection methodology. The acquisition presents significant synergies with PKY's AI trial and drug discovery platform, TrialKey, as both platforms are built around an agent-based AI architecture combining large-language-model functionality with neuro-symbolic reasoning to solve complex design optimisation problems. The acquisition is consistent with PKY's strategy of pursuing complementary AI technology acquisitions as a core element of its growth strategy. Subject to exercise of the option and satisfaction of the conditions precedent, PKY will acquire 100% of Chipforge for 560,000,000 fully paid ordinary shares and 150,000,000 performance rights. No capital raising is contemplated in connection with the acquisition.

No capital raising is contemplated in connection with the acquisition. PKY's current cash position is approximately $3,260,000 as at 31 March 2026 and the company anticipates receiving R&D rebates and other income totalling approximately $840,000 over the next 12 months.

The company's TrialKey platform will continue to be developed and operated from Australia, while the Chipforge business will continue to be operated from Singapore, with ongoing access to the Ntuitive Licence Agreement and the supporting research partnership with Nanyang Technological University. Expenditure on the TrialKey platform and Chipforge platform over the next 12 months will be allocated across technical development and commercial activities.