Company: TGE
Filing Date: 2025-07-03
Form Type: F-1/A
Source: 0001213900-25-061211
Chunk: 302

Company: Generation Essentials Group
Filing Date: 2025-07-03
Form: F-1/A
Chunk 302
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 and Disclosure in Financial Statements”

IFRS 18 “Presentation and Disclosure in Financial Statements”,
which sets out requirements on presentation and disclosures in financial statements, will replace IAS 1 “Presentation of Financial
Statements”. This new IFRS Accounting Standard, while carrying forward many of the requirements in IAS 1, introduces new requirements
to present specified categories and defined subtotals in the statement of profit or loss; provide disclosures on management-defined performance
measures in the notes to the financial statements and improve aggregation and disaggregation of information to be disclosed in the financial
statements. In addition, some IAS 1 paragraphs have been moved to IAS 8 and IFRS 7. Minor amendments to IAS 7 “Statement of Cash
Flows” and IAS 33 “Earnings per Share” are also made. IFRS 18, and amendments to other standards, will be effective
for annual periods beginning on or after 1 January 2027, with early application permitted. The application of the new standard is
expected to affect the presentation of the statement of profit or loss and disclosures in the future financial statements. The Group is
in the process of assessing the detailed impact of IFRS 18 on the Group’s consolidated financial statements.

| 2.3 | MATERIAL ACCOUNTING POLICIES |

The consolidated financial statements incorporate the financial
statements of the Company and entities controlled by the Company and its subsidiaries. Control is achieved when the Company:

| ● | has power over the investee; |

| ● | is exposed, or has rights, to variable returns from its involvement 
 with the investee; and                                              |

| ● | has the ability to use its power to affect its returns. |

<div align='center'>F-52

THE GENERATION ESSENTIALS GROUP
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
F OR THE YEARS ENDED DECEMBER 31, 2022, 2023 AND 2024</div>

| 2. | APPLICATION OF INTERNATIONAL FINANCIAL REPORTING STANDARDS 
 (cont.)                                                    |

The Group reassesses whether or not it controls an investee
if facts and circumstances indicate that there are changes to one or more of the three elements of control described above.

The financial statements of the subsidiaries are prepared
for the same reporting period as the Company, using consistent accounting policies. The results of subsidiaries are consolidated from
the date on which the Group obtains control, and continue to