Company: TGE
Filing Date: 2025-12-03
Form Type: 424B3
Source: 0001213900-25-117807
Chunk: 231

Company: Generation Essentials Group
Filing Date: 2025-12-03
Form: 424B3
Chunk 231
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 |           |   |     |     -audited |           |   |
| CAPITAL AND RESERVES                         |     |       |     |            |           |   |     |              |           |   |
| Share capital                                |     |    19 |     |            |         - | * |     |              |         - | * |
| Reserves                                     |     |       |     |            |   730,599 |   |     |              |   665,277 |   |
| Equity attributable to owners of the Company |     |       |     |            |   730,599 |   |     |              |   665,277 |   |
| Non-controlling interests                    |     |       |     |            |   110,352 |   |     |              |   103,853 |   |
| Total equity                                 |     |       |     |            |   840,951 |   |     |              |   769,130 |   |
| Total liabilities and equity                 |     |       |     |            | 1,247,439 |   |     |              | 1,174,434 |   |

| * | The amount is less than US$1,000. |

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

F-4

THE GENERATION ESSENTIALS GROUP

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY

AS OF JUNE 30, 2025</div>

|                                                       |     | Share   
 capital |   |     | Share   
 premium |         |     | Preferred 
 shares    |         |     | Capital 
 reserve |        |   |     | Revaluation 
 reserve     |        |     | Exchange 
 reserve  |        |   |     | Retained 
 profits  |         |     | Total equity    
 attributable to 
 owners of       
 the Company     |         |   |     | Non-        
 controlling 
 interests   |         |   |     | Total equity |         |
|                                                       |     | US$’000 |   |     | US$’000 |         |     | US$’000   |         |     | US$’000 |        |   |     | US$’000     |        |     | US$’000  |        |   |     | US$’000  |         |     | US$