Company: TGE
Filing Date: 2025-11-21
Form Type: POS AM
Source: 0001213900-25-113604
Chunk: 256

Company: Generation Essentials Group
Filing Date: 2025-11-21
Form: POS AM
Chunk 256
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accounting for the combination prospectively from the date on which it occurred. For predecessor accounting:

| ● | Assets and liabilities                                                                         
 of the acquired entity are stated at carrying amounts. Fair value measurement is not required. |

| ● | Income statement                               
 reflects the results of the combining parties. |

| ● | No new goodwill                   
 arises in predecessor accounting. |

| ● | Any difference                                                                                 
 between the consideration given and the aggregate carrying value of the assets and liabilities 
 of the acquired entity at the date of the transaction is recognized in capital reserve.        |

A joint venture is a type of joint
arrangement whereby the parties that have joint control of the arrangement have rights to the net assets of the joint venture. Joint
control is the contractually agreed sharing of control of an arrangement, which exists only when decisions about the relevant activities
require the unanimous consent of the parties sharing control.

The Group’s investment in joint
ventures are stated in the consolidated statement of financial position at cost and the Group’s share of net assets under the equity
method of accounting, less any impairment losses. The financial statements of joint ventures used for equity accounting purposes are
prepared using uniform accounting policies as those of the Group for like transactions and events in similar circumstances. Appropriate
adjustments have been made to conform the joint venture’s accounting policies to those of the Group. The Group’s share of
the post-acquisition results and other comprehensive income of joint ventures is included in the consolidated statement of profit or
loss and other comprehensive income, respectively. Changes in net assets of joint venture other than profit or loss and other comprehensive
income are not accounted for unless such changes resulted in changes in ownership interest held by the Group. When the Group’s
share of losses of a joint venture exceeds the Group’s interest in that joint venture exceeds the Group’s interest in that
joint venture, the Group discontinues recognising its share of further losses. Additional losses are recognized only to the extent that
the Group has incurred legal or constructive obligations or made payments on behalf of the joint venture.

<div align='center'>F-32

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.)                                |

An investment in a joint venture is
accounted for using the equity