Company: TGE
Filing Date: 2025-07-03
Form Type: F-1/A
Source: 0001213900-25-061211
Chunk: 299

Company: Generation Essentials Group
Filing Date: 2025-07-03
Form: F-1/A
Chunk 299
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’Officiel” at the date of this report. During the year ended                          
 December 31, 2022, the Group acquired 100% interests of L’Officiel. Details refer to note 34.                                            
 The Art Newspaper Group Inc. is the holding company of the                                                                               
 Group’s media and entertainment business unit of “The Art Newspaper” at the date of this report. During the year ended                   
 December 31, 2023, the Group acquired 100% interests in The Art Newspaper. Details refer to note 34.                                     |
|:------|:-----------------------------------------------------------------------------------------------------------------------------------------|
| (iv)  | The reorganization of the Group is not yet completed as of                                                                               
 December 31, 2022 and 2023, the combination of entities and related businesses are common control of AMTD Group. The effective interests 
 attributable to the Group as of December 31, 2022 and 2023 represented the effective interests of respective entities under AMTD         
 Group. The effective interests of certain entities are lower than 50%, AMTD Group owns class B shares of AMTD IDEA Group and AMTD IDEA   
 Group owns class B shares of AMTD Digital Inc., of which class B shares of AMTD IDEA Group and AMTD Digital Inc. entitled 20 votes on    
 each share. As such, AMTD Group can exercise their control over the combined entities.                                                   |

<div align='center'>F-50

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 |

| 2.1 | BASIS OF PRESENTATION |

The consolidated financial statements include the financial
statements of certain subsidiaries of AMTD Group arising from the reorganization, and also include the results of operations of the investments
business, which have been prepared on a carve-out basis. Such reorganization of entities is under common control, which is outside of
the scope of IFRS 3 Business Combinations, as such entities were under common control and managed by AMTD Group. The Group prepared
the consolidated financial statements to capture the stand-alone media and entertainment services, hotel operation, hospitality and VIP
services and strategic investment business, which have operated under AMTD Group during the years ended December 31, 2022, 2023
and