Company: TGE
Filing Date: 2025-11-21
Form Type: POS AM
Source: 0001213900-25-113604
Chunk: 247

Company: Generation Essentials Group
Filing Date: 2025-11-21
Form: POS AM
Chunk 247
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 |         | 261,889 |     |           | 100,000 |     |         | (3,153 | ) |     |             | 95,678 |     |          |  (682 | ) |     |          | 211,545 |     |              | 665,277 |   |     |             |  103,853 |   |     |         | 769,130 |   |

Notes:

| (i)  | Contribution from and distribution to ultimate holding                                     
 company during the years represents the dividend income net with withholding tax received, 
 payments to or disposal receipts of financial assets at FVTPL and settlement of derivative 
 financial instruments directly through ultimate holding company.                           |
| (ii) | The amount is less than US$1,000.                                                          |

<div align='center'>The accompanying notes are an integral part of
the combined financial statements.

F-25

THE GENERATION ESSENTIALS GROUP
consolidated STATEMENTS OF CASH FLOWS
FOR THE YEARS ENDED DECEMBER 31, 2022, 2023 AND 2024</div>

|                                                                        |     |    | Notes | Year ended December 31, |    2022 |   |     |         |    2023 |   |     |         |    2024 |   |
|:-----------------------------------------------------------------------|:----|---:|:------|:------------------------|--------:|:--|:----|:--------|--------:|:--|:----|:--------|--------:|:--|
|                                                                        |     |    |       | US$’000                 |         |   |     | US$’000 |         |   |     | US$’000 |         |   |
| OPERATING ACTIVITIES                                                   |     |    |       |                         |         |   |     |         |         |   |     |         |         |   |
| Profit before tax                                                      |     |    |       |                         |  23,722 |   |     |         |  19,059 |   |     |         |  46,373 |   |
| Adjustments for:                                                       |     |    |       |                         |         |   |     |         |         |   |     |         |         |   |
| Interest income                                                        |     |    |       |                         |       — |   |     |         |      (4