Company: TGE
Filing Date: 2025-12-03
Form Type: 424B3
Source: 0001213900-25-117807
Chunk: 273

Company: Generation Essentials Group
Filing Date: 2025-12-03
Form: 424B3
Chunk 273
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 taxable temporary differences, except:

| ● | when the deferred                                                                             
 tax liability arises from the initial recognition of goodwill or an asset or liability in     
 a transaction that is not a business combination and, at the time of the transaction, affects 
 neither the accounting profit nor taxable profit or loss; and                                 |

| ● | in respect of taxable                                                                         
 temporary differences associated with investments in subsidiaries, when the timing of the     
 reversal of the temporary differences can be controlled and it is probable that the temporary 
 differences will not reverse in the foreseeable future.                                       |

<div align='center'>F-41

THE GENERATION ESSENTIALS GROUP
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
F OR THE YEARS ENDED DECEMBER 31, 2022, 2023 AND 2024</div>

| 2. | APPLICATION OF INTERNATIONAL FINANCIAL REPORTING 
 STANDARDS (cont.)                                |

Deferred tax assets are recognized
for all deductible temporary differences, and the carryforward of unused tax credits and any unused tax losses. Deferred tax assets are
recognized to the extent that it is probable that taxable profit will be available against which the deductible temporary differences,
the carryforward of unused tax credits and unused tax losses can be utilized, except:

| ● | when the deferred                                                                              
 tax asset relating to the deductible temporary differences arises from the initial recognition 
 of an asset or liability in a transaction that is not a business combination and, at the       
 time of the transaction, affects neither the accounting profit nor taxable profit or loss;     
 and                                                                                            |

| ● | in respect of deductible                                                                      
 temporary differences associated with investments in subsidiaries, deferred tax assets are    
 only recognized to the extent that it is probable that the temporary differences will reverse 
 in the foreseeable future and taxable profit will be available against which the temporary    
 differences can be utilized.                                                                  |

The carrying amount of deferred tax
assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable
profit will be available to allow all or part of the deferred tax asset to be utilized. Unrecognized deferred tax assets are reassessed
at the end of each reporting period and are recognized to the extent that it has become probable that sufficient taxable profit will
be available to allow all or part of the deferred tax asset to be recovered.

Deferred tax assets and liabilities
are measured at the tax rates that are expected to apply to the period when the asset is realised or the liability is settled, based