Company: TGE
Filing Date: 2025-01-27
Form Type: 425
Source: 0001213900-25-006762
Chunk: 9

Company: Generation Essentials Group
Filing Date: 2025-01-27
Form: 425
Chunk 9
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 by the Business
Combination Agreement or other Ancillary Agreements to which the Company or Merger Sub is a party.

3.9 . Subject to, and conditioned upon the occurrence of the Merger and effective as of immediately prior to
the effective time of the Merger, Sponsor, in its capacity as the holder of at least a majority of the BSII Class B Ordinary Shares
in the issue, hereby waives, and agrees not to exercise, assert or claim, to the fullest extent permitted by Applicable Law, any adjustment
to the conversion ratio set forth in Article 18.2 of the BSII Governing Document with respect to the BSII Class B Ordinary
Shares, that may result pursuant to Article 18.2(c) of the BSII Governing Document from the issuance of Company Ordinary Shares
in connection with the transactions contemplated by the Business Combination Agreement or any Subscription Agreement; ,
that the foregoing waiver does not waive Article 18.7 of the BSII Governing Document, which provides that in no event may any BSII
Class B Ordinary Share convert into BSII Class A Ordinary Share at a ratio that is less than one-for-one.

4. OTHER AGREEMENTS

4.1 . From and after the Closing until the date falling two (2) years after the Closing Date, the Sponsor shall, (i) so long
as it and its Affiliates collectively hold no less than five percent (5%) of the issued and outstanding ordinary shares of the Company,
be entitled to designate by way of written notice to the Company up to two (2) representatives, who may be different individuals from
time to time as designated by the Sponsor, to attend all meetings of the Company Board in a non-voting observer capacity, and (ii) for
so long as it and its Affiliates collectively hold less than five percent (5%) but no less than three percent (3%) of the issued and outstanding
ordinary shares of the Company, be entitled to designate by way of written notice to the Company up to one (1) representative to attend
all meetings of the Company Board in a non-voting observer capacity (the “”). The Company shall give each
Observer copies of all materials that are provided to the Company Board; , that each Observer shall agree to hold in confidence
and trust all information so provided and, if requested by the Company, enter into a customary confidentiality agreement with the Company
in a form acceptable to the Company acting reasonably. If and when the Sponsor