Company: TGE
Filing Date: 2025-12-03
Form Type: 424B3
Source: 0001213900-25-117807
Chunk: 301

Company: Generation Essentials Group
Filing Date: 2025-12-03
Form: 424B3
Chunk 301
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 loss experience.
The calculation reflects the probability-weighted outcome, the time value of money and reasonable and supportable information that is
available at the reporting date about past events, current conditions and forecasts of future economic conditions. The calculation of
ECL considers forward looking information through the use of publicly available economic data and forecasts, including macroeconomic
data such as GDP growth and unemployment rate, management judgement to reflect the qualitative factors and through the use of multiple
probability weighted scenarios.

<div align='center'>F-59

THE GENERATION ESSENTIALS GROUP
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEARS ENDED DECEMBER 31, 2022, 2023 AND 2024</div>

| 15. | ACCOUNTS RECEIVABLE (cont.) |

As of December 31, 2022, the probability
of default ranged from 0.39% to 0.57% and the loss given default was estimated to be 45%. As of December 31, 2023, the probability
of default ranged from 0.39% to 0.57% and the loss given default was estimated to be 46.9%. As of December 31, 2024, the probability
of default ranged from 0.39% to 0.57% and the loss given default was estimated to be 46.9%. The ECL as of December 31, 2022, 2023
and 2024 were immaterial and no loss allowance for accounts receivable was provided.

| 16. | PREPAYMENTS, DEPOSITS AND OTHER RECEIVABLES |

|                                                  |     | As of December 31, |       |   |     |         |       |   |     |         |       |   |
|                                                  |     |               2022 |       |   |     |    2023 |       |   |     |    2024 |       |   |
|                                                  |     |            US$’000 |       |   |     | US$’000 |       |   |     | US$’000 |       |   |
| Prepayments                                      |     |                    |    67 |   |     |         |   506 |   |     |         | 1,727 |   |
| Deposits                                         |     |                    |   199 |   |     |         |   353 |   |     |