Company: TGE
Filing Date: 2025-07-10
Form Type: 424B3
Source: 0001213900-25-062835
Chunk: 353

Company: Generation Essentials Group
Filing Date: 2025-07-10
Form: 424B3
Chunk 353
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 |  167,388 |   |     |         | — |
| Change in fair value |     |                    |  44,461 |   |     |         |        — |   |     |         | — |
| Gain on disposal     |     |                    |     486 |   |     |         |   34,234 |   |     |         | — |
| Settlement           |     |                    |  (1,963 | ) |     |         | (201,411 | ) |     |         | — |
| Exchange realignment |     |                    |       — |   |     |         |     (211 | ) |     |         | — |
| As of December 31,   |     |                    | 167,388 |   |     |         |        — |   |     |         | — |

In June 2022, the Group entered into a future settlement
contract with the counterparty, pursuant to which the Group is entitled to receive certain listed equity shares at a mutually agreed price
at approximately US$53,272,000 in aggregate (the “Future Settlement Contract”) within one year. The fair value of the underlying
shares as of December 31, 2022 was approximately US$70,953,000. The Future Settlement Contract was accounted for as a derivative
financial asset and the net fair value gain recognized in profit or loss was approximately US$17,681,000 for the year ended December 31,
2022. During the year ended December 31, 2023, the Agreement was terminated and fully settled with the counterparty with the consideration
of approximately US$17,681,000.

AMTD Group Inc. and the Company entered into an agreement
over the share price of AMTD Digital Inc., pursuant to which the Group is entitled to recover from AMTD Group Inc. if the share price
of AMTD Digital Inc. is lower than that at the time the Group invested in the shares of AMTD Digital Inc. (the “Price Protection
Agreement”). The purpose of the Price Protection Agreement is to provide a financial safety net for the Group by ensuring to receive
a minimum value for its investments in shares of AMTD Digital Inc. The Price Protection Agreement was accounted for as a derivative financial
asset and the net fair value gain recognized in profit or loss was approximately US$30,339,000 for the year ended December 31, 2024.

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