Company: TGE
Filing Date: 2025-07-10
Form Type: 424B3
Source: 0001213900-25-062835
Chunk: 323

Company: Generation Essentials Group
Filing Date: 2025-07-10
Form: 424B3
Chunk 323
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 recognized to the extent that it has become probable that sufficient taxable profit will be available to allow all or part
of the deferred tax asset to be recovered.

Deferred tax assets and liabilities are measured at the tax
rates that are expected to apply to the period when the asset is realised or the liability is settled, based on tax rates (and tax laws)
that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax assets and deferred tax liabilities are offset
if and only if the Group has a legally enforceable right to set off current tax assets and current tax liabilities and the deferred tax
assets and deferred tax liabilities relate to income taxes levied by the same taxable entity to the same taxation authority.

For the purposes of measuring deferred tax for leasing transactions
in which the Group recognizes the right-of-use assets and the related lease liabilities, the Group first determines whether the tax deductions
are attributable to the right-of-use assets or the lease liabilities.

For leasing transactions in which the tax deductions are attributable
to the lease liabilities, the Group applies IAS 12 Income Taxes requirements to lease liabilities and related assets separately.
The Group recognizes a deferred tax asset related to lease liabilities to the extent that it is probable that taxable profit will be available
against which the deductible temporary difference can be utilized and a deferred tax liability for all taxable temporary differences.

Revenue from contracts with customers

Revenue from contracts with customers is recognized when control
of goods or services is transferred to the customers at an amount that reflects the consideration to which the Group expects to be entitled
in exchange for those goods or services.

When the consideration in a contract includes a variable amount,
the amount of consideration is estimated to which the Group will be entitled in exchange for transferring the goods or services to the
customer. The variable consideration is estimated at contract inception and constrained until it is highly probable that a significant
revenue reversal in the amount of cumulative revenue recognized will not occur when the associated uncertainty with the variable consideration
is subsequently resolved.

<div align='center'>F-64

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.)                                                    |

Fashion, arts and luxury media advertising and marketing services

Fashion, arts and luxury media advertising and marketing services
income is composed of advertising service