Company: TGE
Filing Date: 2025-06-24
Form Type: F-1
Source: 0001213900-25-057225
Chunk: 88

Company: Generation Essentials Group
Filing Date: 2025-06-24
Form: F-1
Chunk 88
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31, 2024 with the audited historical balance sheet of Black Spade II
as of December 31, 2024, as if the Transactions had been completed on December 31, 2024.

The following unaudited pro
forma condensed combined statement of profit or loss and other comprehensive income for the year ended December 31, 2024 combines
the audited statement of profit or loss and other comprehensive income of The Generation Essentials Group for the year ended December 31,
2024 with the audited statements of operations of Black Spade II for the period from May 9, 2024 (inception) to December 31,
2024, as if the Transactions, the TGE Reorganization and Black Spade II’s IPO had been completed on January 1, 2024.

The historical financial information
of Black Spade II was derived from its audited financial statements for period from May 9, 2024 (inception) to December 31,
2024, included elsewhere in this prospectus. The historical financial information of The Generation Essentials Group was derived from
its audited consolidated financial statements for the year ended December 31, 2024, included elsewhere in this prospectus. The unaudited
pro forma condensed combined financial information and the accompanying notes should be read together with The Generation Essentials Group’s
and Black Spade II’s financial statements and related notes, the section titled “Management’s Discussion and Analysis of Financial Condition and Results of Operation,” and other financial information included elsewhere in this
prospectus.

The pro forma adjustments
related to the Transactions, which we refer to as the “Transactions Adjustments,” the pro forma adjustments related to the
TGE Reorganization, which we refer to as the “TGE Reorganization Adjustments,” and the pro forma adjustments related to the
Black Spade II’s IPO, which we refer to as the “Completion of Initial Public Offering Adjustments,” collectively, are
described in the notes to the unaudited pro forma consolidated financial information.

The unaudited pro forma condensed
combined statements of profit or loss and other comprehensive income (i) are based on information currently available, (ii) are
intended for informational purposes only, (iii) are not necessarily indicative of and do not purport to represent what our operating
results would have been had the Transactions, TGE Reorganization and Black Spade II’s IPO occurred as described or what our future
operating results will be after giving