Company: TGE
Filing Date: 2025-07-03
Form Type: F-1/A
Source: 0001213900-25-061211
Chunk: 354

Company: Generation Essentials Group
Filing Date: 2025-07-03
Form: F-1/A
Chunk 354
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’000      |         |     | US$’000 |         |
| As of December 31, 2022          |     |                              |         |     |             |        |     |              |         |     |         |         |
| Financial assets at FVTPL        |     |                              | 110,474 |     |             |    200 |     |              |  13,247 |     |         | 123,921 |
| Derivative financial instruments |     |                              |       — |     |             |      — |     |              | 185,069 |     |         | 185,069 |
| As of December 31, 2023          |     |                              |         |     |             |        |     |              |         |     |         |         |
| Financial assets at FVTPL        |     |                              |  72,052 |     |             |  1,813 |     |              |   3,936 |     |         |  77,801 |
| As of December 31, 2024          |     |                              |         |     |             |        |     |              |         |     |         |         |
| Financial assets at FVTPL        |     |                              | 407,510 |     |             |  7,171 |     |              |   5,863 |     |         | 420,544 |
| Derivative financial instruments |     |                              |       — |     |             | 30,339 |     |              |       — |     |         |  30,339 |

<div align='center'>F-92

THE GENERATION ESSENTIALS GROUP
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEARS ENDED DECEMBER 31, 2022, 2023 AND 2024</div>

| 32. | FAIR VALUE AND FAIR VALUE HIERARCHY OF FINANCIAL INSTRUMENTS 
 (cont.)                                                      |

The movements in fair value measurements within Level 3 on
financial assets at FVTPL during the years are as follow:

|                         |     | As of December 31, |        |   |     |         |         |   |     |         |       |
|                         |     |               2022 |        |   |     |    2023 |         |   |     |    202