Company: TGE
Filing Date: 2025-11-21
Form Type: POS AM
Source: 0001213900-25-113604
Chunk: 252

Company: Generation Essentials Group
Filing Date: 2025-11-21
Form: POS AM
Chunk 252
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 comprising the Group as
if the current group structure had been in existence.

The Group’s consolidated financial
statements have been prepared in accordance with IFRSs and the Interpretations of the International Financial Reporting Interpretations
Committee (“IFRIC”) issued by the IASB. For the purpose of preparation of the consolidated financial statements, information
is considered material if such information is reasonably expected to influence decision made by primary users.

The consolidated financial statements
have been prepared on a historical cost basis, except for financial assets at FVTPL, which are measured at fair value. The consolidated
financial statements are presented in US$ unless otherwise stated, which is also the functional currency of the Company.

<div align='center'>F-29

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.)                                |

| 2.2 | APPLICATION            
 OF AMENDMENTS TO IFRSs |

For the purpose of preparing and presenting
the consolidated financial statements, the Group has consistently applied the accounting policies which conform with IFRSs, International
Accounting Standards (“IASs”) and the related interpretations issued by the IASB that are effective for the accounting period
beginning on January 1, 2024 throughout the reporting periods.

The Group has not early applied the
following new and amendments to IFRSs and International Accounting Standards (“IASs”) that have been issued but are not yet
effective:

| Amendments to IFRS 9 and IFRS 7  |     | Amendments                                                        
 to the Classification and Measurement of Financial Instruments(3) |
| Amendments to IFRS 10 and IAS 28 |     | Sale or Contribution of                                           
 Assets between an Investor and its Associate or Joint Venture(1)  |
| Amendments to IAS 21             |     | Lack of Exchangeability(2)                                        |
| IFRS 18                          |     | Presentation and Disclosure                                       
 in Financial Statements(4)                                        |

| (1) | Effective for annual periods beginning                        
 on or after a date to be determined                           |
| (2) | Effective for annual periods beginning on or after January 1, 
 2025                                                          |
| (3) | Effective for annual periods beginning