Company: TGE
Filing Date: 2025-07-10
Form Type: 424B3
Source: 0001213900-25-062835
Chunk: 95

Company: Generation Essentials Group
Filing Date: 2025-07-10
Form: 424B3
Chunk 95
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 information
has been prepared based on these preliminary estimates, the final amounts recorded may differ materially from the information presented.

The unaudited pro forma condensed
combined financial information does not give effect to any anticipated synergies, operating efficiencies, tax savings, or cost savings
that may be associated with the Transactions.

The pro forma adjustments
reflecting the consummation of the Transactions are based on certain currently available information and certain assumptions and methodologies
that The Generation Essentials Group believes are reasonable under the circumstances. The unaudited condensed pro forma adjustments, which
are described in the accompanying notes, may be revised as additional information becomes available and is evaluated. Therefore, it is
likely that the actual adjustments will differ from the pro forma adjustments, and it is possible that the difference may be material.
The Generation Essentials Group believes that these assumptions and methodologies provide a reasonable basis for presenting all of the
significant effects of the Transactions based on information available to management at the time and that the pro forma adjustments give
appropriate effect to those assumptions and are properly applied in the unaudited pro forma condensed combined financial information.

The unaudited pro forma condensed
combined financial information is not necessarily indicative of what the actual results of operations and financial position would have
been had the Transactions taken place on the dates indicated, nor are they indicative of the future consolidated results of operations
or financial position of the post-Business Combination company. They should be read in conjunction with the historical financial statements
and notes thereto of Black Spade II and The Generation Essentials Group.

| 2. | IFRS Conversion and Presentation Alignment |

The historical financial information
of Black Spade II has been adjusted to give effect to the differences between U.S. GAAP and IFRS as issued by the IASB for the
purposes of the unaudited pro forma condensed combined financial information. The only adjustment required to convert Black Spade
II’s financial statements from U.S. GAAP to IFRS for purposes of the unaudited pro forma condensed combined financial
information was to reclassify Black Spade II’s ordinary shares subject to redemption to financial liabilities under IFRS.

Further, as part of the preparation
of the unaudited pro forma condensed combined financial information, certain reclassifications were made to align Black Spade II’s
historical financial information in accordance with the presentation of The Generation Essentials Group’s historical financial information.

The IFRS conversion and presentation
alignment adjustments included in the unaudited pro forma condensed combined statement