Company: TGE
Filing Date: 2025-07-10
Form Type: 424B3
Source: 0001213900-25-062835
Chunk: 160

Company: Generation Essentials Group
Filing Date: 2025-07-10
Form: 424B3
Chunk 160
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 |         |     | Payment Due by Period |        |     |           |         |
|                                                          |     | Total                             |         |     | Within                
 One Year              |        |     | More Than 
 One Year  |         |
|                                                          |     | US$                               |         |     | US$                   |        |     | US$       |         |
|                                                          |     | -in thousands, except percentages |         |     |                       |        |     |           |         |
| Bank borrowings                                          |     |                                   | 219,609 |     |                       |    176 |     |           | 219,433 |
| Amount due to ultimate holding company                   |     |                                   | 102,622 |     |                       |      — |     |           | 102,622 |
| Amount due to subsidiaries’ non-controlling shareholders |     |                                   |  63,019 |     |                       | 63,019 |     |           |       — |
| Lease liabilities                                        |     |                                   |     520 |     |                       |    253 |     |           |     267 |
| Total                                                    |     |                                   | 385,770 |     |                       | 63,448 |     |           | 322,322 |

Other than as shown above,
we did not have any other significant capital and other commitments, long-term obligations or guarantees as of December 31, 2024.

To provide additional consideration
to Black Spade II Public Shareholders, The Generation Essentials Group will make a cash payment equal to $1.25 multiplied by the
number of BSII Class A Ordinary Shares held by eligible Black Spade II Public Shareholders on the Closing Date immediately before
the Merger Effective Time (the “Non-Redemption Payment Amount”). This additional cash payment will be made no earlier than
60 days and no later than 90 days after the Closing Date. The aggregate Non-Redemption Payment Amount that we currently expect to pay
to eligible Black Spade II Public Shareholders is US$1.7 million.

Off-Balance Sheet Commitments
and Arrangements

We have not entered into any
financial guarantees or other commitments to guarantee the payment obligations of any third parties. In addition, we have not entered
into any derivative contracts that are indexed to our shares and classified as shareholders’ equity or that are not reflected in
our combined financial statements. Furthermore, we do not have any retained or contingent interest in assets transferred