Company: TGE
Filing Date: 2025-11-21
Form Type: POS AM
Source: 0001213900-25-113604
Chunk: 244

Company: Generation Essentials Group
Filing Date: 2025-11-21
Form: POS AM
Chunk 244
---
. Those standards require that we plan and perform the audits to obtain reasonable assurance about whether
the financial statements are free of material misstatement, whether due to error or fraud. The Group is not required to have, nor were
we engaged to perform, an audit of its internal control over financial reporting. As part of our audits, we are required to obtain an
understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the
Group’s internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to
assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that
respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial
statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well
as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

/s/ Assentsure PAC

Singapore
March 21, 2025

We have served as the Group’s auditor since 2024.

<div align='center'>F-20

THE GENERATION ESSENTIALS GROUP
CONSOLIDATED STATEMENTS OF PROFIT OR LOSS
AND OTHER COMPREHENSIVE INCOME
FOR THE YEARS ENDED DECEMBER 31, 2022, 2023 AND 2024</div>

|                                                                              |     |    | Notes | Year ended December 31, |   2022 |   |     |         |    2023 |   |     |         |    2024 |   |
|:-----------------------------------------------------------------------------|:----|---:|:------|:------------------------|-------:|:--|:----|:--------|--------:|:--|:----|:--------|--------:|:--|
|                                                                              |     |    |       | US$’000                 |        |   |     | US$’000 |         |   |     | US$’000 |         |   |
| REVENUE                                                                      |     |    |       |                         |        |   |     |         |         |   |     |         |         |   |
| Media advertising and marketing services income                              |     |  5 |       |                         |  7,670 |   |     |         |  14,422