Company: TGE
Filing Date: 2025-07-03
Form Type: F-1/A
Source: 0001213900-25-061211
Chunk: 260

Company: Generation Essentials Group
Filing Date: 2025-07-03
Form: F-1/A
Chunk 260
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| General and administrative expenses  |     | $              | 1,485,361 |
| Interest earned on the Trust Account |     | $              | 2,475,445 |

The CODM reviews interest earned on the Trust Account
to measure and monitor shareholder value and determine the most effective strategy of investment with the Trust Account funds while maintaining
compliance with the Trust Agreement.

<div align='center'>F-21

BLACK SPADE ACQUISITION II CO
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2024</div>

NOTE 10 — SEGMENT INFORMATION (cont.)

General and administrative expenses are reviewed
and monitored by the CODM to manage and forecast cash to ensure enough capital is available to complete a business combination or similar
transaction within the business combination period. The CODM also reviews general and administrative costs to manage, maintain and enforce
all contractual agreements to ensure costs are aligned with all agreements and budget. General and administrative costs, as reported on
the statement of operations, are the significant segment expenses provided to the CODM on a regular basis.

All other segment items included in net income are
reported on the statement of operations and described within their respective disclosures.

NOTE 11 —SUBSEQUENT EVENTS

The Company evaluated subsequent events and transactions
that occurred after the balance sheet date up to the date that the financial statements were issued. Based upon this review, other than
described as below, the Company did not identify any subsequent events that would have required adjustment or disclosure in the financial
statements.

Financial Advisor Agreement

Clear Street LLC (“Clear Street”) and
Cohen & Company Capital Markets, a division of J.V.B. Financial Group, LLC (“Cohen, and together with Clear Street,
the “Advisors”) were formally engaged by the Company on January 26, 2025, to serve as its joint financial advisors and
joint lead capital markets advisors in connection with the Business Combination. In connection therewith, the Advisors are providing capital
markets advice to the Company, including advice on strategic issues relating to the Business Combination such as valuation, and general
assistance in implementing and closing the Business Combination, including but not limited to coordinating marketing efforts. Under the
terms of such engagement, upon the closing of the Business Combination, the Advisors will receive a fee of $1,500,000 in return for such
advisory services which will be shared equally among them. This agreement expires eighteen months from the date thereof,