Company: TGE
Filing Date: 2025-07-03
Form Type: F-1/A
Source: 0001213900-25-061211
Chunk: 322

Company: Generation Essentials Group
Filing Date: 2025-07-03
Form: F-1/A
Chunk 322
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 ENDED DECEMBER 31, 2022, 2023 AND 2024</div>

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

Non-monetary items that are measured in terms of historical
cost in a foreign currency are translated using the exchange rates at the dates of the initial transactions. Non-monetary items measured
at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was measured. The gain or
loss arising on translation of a non-monetary item measured at fair value is treated in line with the recognition of the gain or loss
on change in fair value of the item (i.e., translation difference on the item whose fair value gain or loss is recognized in other comprehensive
income or profit or loss is also recognized in other comprehensive income or profit or loss, respectively).

In determining the exchange rate on initial recognition of
the related asset, expense or income on the derecognition of a non-monetary asset or non-monetary liability relating to an advance consideration,
the date of initial transaction is the date on which the Group initially recognizes the non-monetary asset or non-monetary liability arising
from the advance consideration. If there are multiple payments or receipts in advance, the Group determines the transaction date for each
payment or receipt of the advance consideration.

For the purpose of presenting consolidated financial statements,
the assets and liabilities of the Group’s foreign operations are translated at exchange rates prevailing on the reporting date.
Income and expense items are translated at the average exchange rates for the period, unless exchange rates fluctuate significantly during
that period, in which case the exchange rates at the date of transactions are used. Exchange differences arising, if any, are recognized
in other comprehensive income and accumulated in an exchange reserve (attributed to non-controlling interests as appropriate).

On the disposal of a foreign operation (that is, a disposal
of the Group’s entire interest in a foreign operation, or a disposal involving loss of control over a subsidiary that includes a
foreign operation, or a partial disposal of an interest in a joint arrangement or an associate that includes a foreign operation of which
the retained interest becomes a financial asset), all of the exchange differences accumulated in equity in respect of that operation attributable
to the owners of the Company are reclassified to profit or loss.

Borrowing costs directly attributable to the acquisition,
construction or production of qualifying assets, which are assets that necessarily take a substantial period of time to get