Company: TGE
Filing Date: 2025-07-10
Form Type: 424B3
Source: 0001213900-25-062835
Chunk: 300

Company: Generation Essentials Group
Filing Date: 2025-07-10
Form: 424B3
Chunk 300
---
 company (note (i))                                        |     |            | — |     |         |       — |     |           |       — |     |         | (7,813 | ) |     |             |      — |     |          |     — |   |     |          |       — |     |              |  (7,813 | ) |     |             |        — |   |     |         |  (7,813 | ) |
| As of December 31, 2024                                                                      |     |            | — |     |         | 261,889 |     |           | 100,000 |     |         | (3,153 | ) |     |             | 95,678 |     |          |  (682 | ) |     |          | 211,545 |     |              | 665,277 |   |     |             |  103,853 |   |     |         | 769,130 |   |

Notes:

| (i)  | Contribution from and distribution to ultimate holding company                                                                   
 during the years represents the dividend income net with withholding tax received, payments to or disposal receipts of financial 
 assets at FVTPL and settlement of derivative financial instruments directly through ultimate holding company.                    |
| (ii) | The amount is less than US$1,000.                                                                                                |

<div align='center'>The accompanying notes are an integral part of
the combined financial statements.

F-47

THE GENERATION ESSENTIALS GROUP
consolidated STATEMENTS OF CASH FLOWS
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 |         |   |
| OPERATING ACTIVITIES                                                                     |     |    |       |                         |         |   |     |         |         |