Company: TGE
Filing Date: 2025-07-10
Form Type: 424B3
Source: 0001213900-25-062835
Chunk: 326

Company: Generation Essentials Group
Filing Date: 2025-07-10
Form: 424B3
Chunk 326
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 interest accretion and lease payments.

These financial statements are presented in US$, which is
the Company’s functional currency. Each entity in the Group determines its own functional currency and items included in the financial
statements of each entity are measured using that functional currency. Foreign currency transactions recorded by the entities in the Group
are initially recorded using their respective functional currency rates prevailing at the dates of the transactions. Monetary assets and liabilities
denominated in foreign currencies are translated at the functional currency rates of exchange ruling at the end of each reporting period.
Differences arising on settlement or translation of monetary items are recognized in profit or loss.

<div align='center'>F-66

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

| 2. | APPLICATION OF INTERNATIONAL FINANCIAL REPORTING STANDARDS 
 (cont.)                                                    |

Non-monetary items that are measured in terms of historical
cost in a foreign currency are translated using the exchange rates at the dates of the initial transactions. Non-monetary items measured
at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was measured. The gain or
loss arising on translation of a non-monetary item measured at fair value is treated in line with the recognition of the gain or loss
on change in fair value of the item (i.e., translation difference on the item whose fair value gain or loss is recognized in other comprehensive
income or profit or loss is also recognized in other comprehensive income or profit or loss, respectively).

In determining the exchange rate on initial recognition of
the related asset, expense or income on the derecognition of a non-monetary asset or non-monetary liability relating to an advance consideration,
the date of initial transaction is the date on which the Group initially recognizes the non-monetary asset or non-monetary liability arising
from the advance consideration. If there are multiple payments or receipts in advance, the Group determines the transaction date for each
payment or receipt of the advance consideration.

For the purpose of presenting consolidated financial statements,
the assets and liabilities of the Group’s foreign operations are translated at exchange rates prevailing on the reporting date.
Income and expense items are translated at the average exchange rates for the period, unless exchange rates fluctuate significantly during
that period, in which case the exchange rates at the date of transactions are used. Exchange