Company: TGE
Filing Date: 2025-12-03
Form Type: 424B3
Source: 0001213900-25-117807
Chunk: 91

Company: Generation Essentials Group
Filing Date: 2025-12-03
Form: 424B3
Chunk 91
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 of performance or as an indicator
of our operating performance. Investors are encouraged to review adjusted net income and the reconciliation to its most directly
comparable IFRS measure, profit for the period. Adjusted net income presented here may not be comparable to similarly titled measures
presented by other companies. Other companies may calculate similarly titled measures differently, limiting their usefulness as comparative
measures to our data. We encourage investors and others to review our financial information in its entirety and not rely on a single
financial measure.

The table below sets forth unaudited reconciliations of our IFRS and non-GAAP results
for the periods indicated:

| US$’000                               |     | Six months ended 
 June 30,         
 2025             |        |
|:--------------------------------------|:----|:-----------------|-------:|
| IFRS Measure: Profit for the period   |     |                  |  2,093 |
| Adjustment:                           |     |                  |        |
| One-off share-based payment expenses  |     |                  | 58,878 |
| Non-GAAP Measure: adjusted net income |     |                  | 60,971 |

There is no non-GAAP adjustment during the years ended December
31, 2022, 2023 and 2024 as there is no such event in these years.

<div align='center'>49

USE
OF PROCEEDS</div>

We will receive proceeds
of up to an aggregate of approximately US$186,530,000 from the exercise of the Warrants if all of the Warrants are exercised for cash.
We expect to use the net proceeds from the exercise of Warrants for general corporate purposes. The likelihood that warrant holders will
exercise the Warrants and any cash proceeds that we would receive are dependent upon the market price of the Class A Ordinary Shares,
among other things. If the market price for the Class A Ordinary Shares is less than US$11.50 per share, we believe warrant holders
will be unlikely to exercise their Warrants. There is no assurance that the Warrants will be “in the money” prior to their
expiration or that the warrant holders will exercise their Warrants. Holders of the Sponsor Warrants have the option to exercise the
Sponsor Warrants on a cashless basis in accordance with the Warrant Agreement. To the extent that any Warrants are exercised on a cashless
basis, the amount of cash we would receive from the exercise of the Warrants