Company: TGE
Filing Date: 2025-07-03
Form Type: F-1/A
Source: 0001213900-25-061211
Chunk: 91

Company: Generation Essentials Group
Filing Date: 2025-07-03
Form: F-1/A
Chunk 91
---
 represents the
aggregate consideration from the Transactions, assuming no Warrants have been exercised:

|                     |     | Purchase 
 price    |        |     | Share issue |           |
|                     |     | US$’000  |        |     |             |           |
| Share Consideration |     |          | 60,041 |     |             | 6,004,126 |

The value of ordinary shares
is reflected at $10 per share, taking into account the TGE Reorganization.

Ownership

The following summarizes the
unaudited pro forma ordinary shares of The Generation Essentials Group outstanding following the completion of the Business Completion
based on the actual redemptions by Black Spade II Public Shareholders, assuming no Warrants have been exercised:

|                                                         |     | Numberof shares(1) |            |     | % |       |
| Black Spade II Public Shareholders                      |     |                    |            |     |   |       |
| Public Shares(2)                                        |     |                    |  2,179,126 |     |   |   4.0 |
|                                                         |     |                    |  2,719,126 |     |   |   4.0 |
| Sponsor and other Initial Shareholder of Black Spade II |     |                    |            |     |   |       |
| Founder Shares(3)                                       |     |                    |  3,825,000 |     |   |   7.0 |
|                                                         |     |                    |  3,825,000 |     |   |   7.0 |
| Current TGE Shareholders                                |     |                    |            |     |   |       |
| Voting Ordinary Shareholders                            |     |                    |            |     |   |       |
| AMTD Digital Inc.                                       |     |                    | 19,285,911 |     |   |  35.2 |
| AMTD IDEA Group                                         |     |                    | 18,425,068 |     |   |  33.6 |
| South Horizon Oceans (Group) Co. Inc.                   |     |                    |  3,235,714 |     |   |   5.8 |
| Radisson Everton Venture Fund                           |     |                    |  1,464,944 |     |   |   2.7 |
| AMTD Group Inc.                                         |     |                    |     45,307 |