Company: TGE
Filing Date: 2025-07-03
Form Type: F-1/A
Source: 0001213900-25-061211
Chunk: 187

Company: Generation Essentials Group
Filing Date: 2025-07-03
Form: F-1/A
Chunk 187
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 the extent any such constructive distribution
is treated as a dividend.

Taxation on the
Disposition of the Securities

Subject to the PFIC rules
discussed below, upon a sale or other taxable disposition of the Securities, a U.S. Holder will generally recognize capital gain
or loss. The amount of gain or loss recognized will generally be equal to the difference between (i) the sum of the amount of cash
and the fair market value of any property received in such disposition and (ii) the U.S. Holder’s adjusted tax basis in
such securities.

Under tax law currently in
effect, long-term capital gains recognized by non-corporate U.S. Holders are generally subject to U.S. federal income tax
at a reduced rate of tax. Capital gain or loss will constitute long-term capital gain or loss if the U.S. Holder’s holding
period for the securities exceeds one year. The deductibility of capital losses is subject to various limitations.

<div align='center'>120</div>

Exercise, Lapse
or Redemption of a Warrant

Subject to the PFIC rules
discussed below and except as discussed below regarding a cashless exercise, a U.S. Holder will generally not recognize gain or loss
upon the exercise of a Warrant. A Class A Ordinary Share acquired pursuant to the exercise of n Warrant for cash will generally have
a tax basis equal to the U.S. Holder’s tax basis in the Warrant, increased by the amount paid to exercise the Warrant. It is
unclear whether a U.S. Holder’s holding period for the Class A Ordinary Share will commence on the date of exercise of
the Warrant or the day following the date of exercise of the Warrant; in either case, the holding period will not include the period
during which the U.S. Holder held the Warrant. If a Warrant is allowed to lapse unexercised, a U.S. Holder will generally recognize
a capital loss equal to such holder’s tax basis in the Warrant. Such loss will be long-term capital loss if, at the time of the
expiration, the holding period in the Warrants is more than one year. The deductibility of capital losses is subject to limitations.

Because of the absence of
authority specifically addressing the treatment of a cashless exercise of warrants under current U.S. federal income tax law, the
treatment of such a cashless exercise is unclear. A cashless exercise may be tax-free, either because the exercise