Company: TGE
Filing Date: 2025-01-27
Form Type: 425
Source: 0001213900-25-006763
Chunk: 33

Company: Generation Essentials Group
Filing Date: 2025-01-27
Form: 425
Chunk 33
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 Sponsor Parties Representative on behalf of a Sponsor Party.

5.14.2 The
Sponsor undertakes that, and the Sponsor Parties agree that, prior to the Sponsor (i) ceasing to hold any Registrable Securities
or (ii) undertaking any liquidation, dissolution or winding up, the Sponsor shall designate the Sponsor Party holding the largest
number of Registrable Securities at such time as the “”, and the provisions of this sentence
shall also apply subsequently, mutatis mutandis, if any such Sponsor Party ceases to hold Registrable Securities or undertakes any liquidation,
dissolution or winding up.

<div align='center'>[Signature Pages Follow]

26</div>

IN WITNESS WHEREOF, the undersigned have caused this
Agreement to be executed as of the date first written above.

| World Media and Entertainment Universal Inc. |        |
| By:                                          |        |
|                                              | Name:  |
|                                              | Title: |

<div align='center'>[Signature Page to Registration Rights Agreement]</div>

IN WITNESS WHEREOF, the undersigned have
caused this Agreement to be executed as of the date first written above.

| BLACK SPADE SPONSOR LLC II |        |
| By:                        |        |
|                            | Name:  |
|                            | Title: |

<div align='center'>[Signature Page to Registration Rights Agreement]</div>

IN WITNESS WHEREOF, the undersigned have
caused this Agreement to be executed as of the date first written above.

| AMTD DIGITAL INC. |        |
| By:               |        |
|                   | Name:  |
|                   | Title: |

<div align='center'>[Signature Page to Registration Rights Agreement]</div>

IN WITNESS WHEREOF, the undersigned have
caused this Agreement to be executed as of the date first written above.

| AMTD IDEA GROUP |        |
| By:             |        |
|                 | Name:  |
|                 | Title: |

<div align='center'>[Signature Page to Registration Rights Agreement]</div>

IN WITNESS WHEREOF, the undersigned have
caused this Agreement to be executed as of the date first written above.

| AMTD GROUP INC. |        |
| By:             |        |
|                 | Name:  |
|                 | Title: |

<div align='center'>[Signature Page to Registration Rights Agreement]</div>

IN WITNESS WHEREOF, the undersigned have