Company: TGE
Filing Date: 2025-01-27
Form Type: 425
Source: 0001213900-25-006756
Chunk: 67

Company: Generation Essentials Group
Filing Date: 2025-01-27
Form: 425
Chunk 67
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) Neither
the Company nor any of its Subsidiaries is a (i) “surrogate foreign corporation” within the meaning of Section 7874(a)(2)(B) of
the Code, (ii) U.S. corporation under Section 7874(b) of the Code or (iii) stapled entity within the meaning of Section 269B
of the Code.

(l) Based
on its current and expected income and assets (taking into account the expected cash proceeds to be received by the Company from the Transactions
and the Company’s anticipated market capitalization following the Transactions) the Company believes it was not a passive foreign
investment company (“PFIC”) within the meaning of Section 1297 of the Code for its taxable year ending December 31,
2023 and does not expect to be a PFIC for its taxable year ending December 31, 2024 or in the foreseeable future.

(m) All
material payments between or among the Company and any of its Subsidiaries or between or among its Subsidiaries and any material transactions
between or among the Company and any of its Subsidiaries or between or among its Subsidiaries have complied with all applicable transfer
pricing requirements imposed by Applicable Law, including proper documentation and reporting as required by any Applicable Law related
to transfer pricing.

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(n) Merger
Sub has not filed an IRS Form 8832 electing to be treated as a partnership or an entity disregarded as separate from its owner for
U.S. federal income tax purposes. As of immediately prior to the Merger Effective Time, Merger Sub shall be a direct, wholly owned Subsidiary
of the Company.

(o) None
of the Company and any of its Subsidiaries or predecessors by merger or consolidation has been a party to any transaction intended to
qualify under Section 355 of the Code.

(p) The
prices and terms of the provision of any property or services by or to the Company or any of its Subsidiaries are arm’s length for
purposes of the relevant transfer pricing laws, and all related documentation required by such laws has been timely prepared or obtained
and, if necessary, retained.

(q) Neither
the Company nor any of its Subsidiaries has participated in or cooperated with, or has agreed to participate in or cooperate with, or
is participating in or cooperating with, any international boycott within the meaning of Section