Company: TGE
Filing Date: 2025-07-03
Form Type: F-1/A
Source: 0001213900-25-061211
Chunk: 276

Company: Generation Essentials Group
Filing Date: 2025-07-03
Form: F-1/A
Chunk 276
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There were no unrecognized tax benefits, and no amounts accrued for interest and penalties as of March 31, 2025 and
December 31, 2024. The Company is currently not aware of any issues under review that could result in significant payments, accruals
or material deviation from its position.

<div align='center'>F-32</div>

The Company is considered
to be an exempted Cayman Islands company with no connection to any other taxable jurisdiction and is presently not subject to income
taxes or income tax filing requirements in the Cayman Islands or the United States. As such, the Company’s tax provision was zero
for the period presented.

Fair Value of Financial Instruments

The fair value of the
Company’s assets and liabilities, which qualify as financial instruments under ASC 820, “Fair Value Measurement,” approximates
the carrying amounts represented in the balance sheet, primarily due to their short-term nature.

Concentration of Credit Risk

Financial instruments
that potentially subject the Company to concentrations of credit risk consist of a cash account in a financial institution, which, at
times, may exceed the Federal Deposit Insurance Corporation coverage limit of $250,000. Any loss incurred or a lack of access to such
funds could have a significant adverse impact on the Company’s financial condition, results of operations, and cash flows.

Derivative Financial Instruments

The Company evaluates
its financial instruments to determine if such instruments are derivatives or contain features that qualify as embedded derivatives in
accordance with ASC Topic 815, “Derivatives and Hedging”. For derivative financial instruments that are accounted for as
liabilities, the derivative instrument is initially recorded at its fair value on the grant date and is then re-valued at each reporting
date, with changes in the fair value reported in the unaudited condensed statement of operations. The classification of derivative
instruments, including whether such instruments should be recorded as liabilities or as equity, is evaluated at the end of each reporting
period. Derivative liabilities are classified in the balance sheet as current or non-current based on whether or not net cash settlement
or conversion of the instrument could be required within 12 months of the balance sheet date. The underwriters’ over-allotment
option is deemed to be a freestanding financial instrument indexed on the contingently redeemable shares and was accounted for as a liability
pursuant to ASC 480, with the changes in fair value of the over-allotment liability recorded in the statements of