Company: TGE
Filing Date: 2025-03-21
Form Type: DRS/A
Source: 0001013762-25-001106
Chunk: 502

Company: Generation Essentials Group
Filing Date: 2025-03-21
Form: DRS/A
Chunk 502
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 with the counterparty, pursuant to which the Group is entitled to receive certain listed equity shares at a mutually agreed price at approximately US$53,272,000 in aggregate (the “Future Settlement Contract”) within one year. The fair value of the underlying shares as of December 31, 2022 was approximately US$70,953,000. The Future Settlement Contract was accounted for as a derivative financial asset and the net fair value gain recognized in profit or loss was approximately US$17,681,000 for the year ended December 31, 2022. During the year ended December 31, 2023, the Agreement was terminated and fully settled with the counterparty with the consideration of approximately US$17,681,000. Price Protection Agreement AMTD Group Inc. and the Company entered into an agreement over the share price of AMTD Digital Inc., pursuant to which the Group is entitled to recover from AMTD Group Inc. if the share price of AMTD Digital Inc. is lower than that at the time the Group invested in the shares of AMTD Digital Inc. (the “Price Protection Agreement”). The purpose of the Price Protection Agreement is to provide a financial safety net for the Group by ensuring to receive a minimum value for its investments in shares of AMTD Digital Inc. The Price Protection Agreement was accounted for as a derivative financial asset and the net fair value gain recognized in profit or loss was approximately US$30,339,000 for the year ended December 31, 2024.

F-63

THE GENERATION ESSENTIALS GROUP
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2022, 2023 AND 2024 18.CASH AND BANK BALANCES AND RESTRICTED CASH Cash and bank balances Cash and bank balances include cash on hand and demand deposits at bank. The bank balances earn interest at floating rate of daily bank deposit rates and are deposited with creditworthy banks with no recent history of default. The bank balances are deposited with creditworthy banks with no recent history of default. Restricted cash As of December 31, 2022 and 2023, restricted deposits held at banks were used to settle certain payables to vendors. 19.ACCOUNTS PAYABLE

|                           |     | As of December 31, |     |         |     |         |
|                           |     |               2022 |     |    2023 |     |    2024 |