Company: TGE
Filing Date: 2025-06-24
Form Type: F-1
Source: 0001213900-25-057225
Chunk: 196

Company: Generation Essentials Group
Filing Date: 2025-06-24
Form: F-1
Chunk 196
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 to vote on any other matters subject to a vote at general
meetings of TGE.

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Optional and Mandatory
Conversion

Each Class B Ordinary
Share will be convertible into one Class A Ordinary Share at any time at the option of the holder thereof. Class A Ordinary
Shares will not be convertible into Class B Ordinary Shares under any circumstances.

Upon any transfer of Class B
Ordinary Shares by a holder thereof to any person other than Dr. Calvin Choi or any other person designated by Dr. Calvin Choi,
each such Class B Ordinary Share will automatically and immediately convert into one Class A Ordinary Share.

Holders of Preferred Shares
are not entitled to any conversion rights under the Amended Articles.

Transfer of Shares

Subject to applicable laws,
including securities laws, and the restrictions contained in the Amended Articles and to any lock-up agreements to which a shareholder
may be a party, any shareholders may transfer all or any of their Class A Ordinary Shares, Class B Ordinary Shares or Preferred
Shares by an instrument of transfer in the usual or common form or any other form approved by the board of directors.

Class B Ordinary Shares
may be transferred only to Dr. Calvin Choi and any other person designated by Dr. Calvin Choi and any Class B Ordinary
Shares transferred otherwise will be converted into Class A Ordinary Shares as described above. See “— Optional
and Mandatory Conversion.”

The board of directors may
decline to register any transfer of any share unless:

| ● | the instrument of transfer is lodged with The Generation Essentials Group accompanied by the certificate                                        
 for the shares to which it relates (if any) and such other evidence as the board of directors of The Generation Essentials Group may reasonably 
 require to show the right of the transferor to make the transfer;                                                                               |

| ● | the instrument of transfer is in respect of only one class or series of shares; |

| ● | the instrument of transfer is properly stamped, if required; |

| ● | in the case of a transfer to joint holders, the number of joint holders to whom the share is to be transferred 
 does not exceed four; or                                                                                       |

| ● | a fee of such maximum sum as the applicable stock exchange may determine to be payable, or such lesser                                     
 sum as the board of directors of The Generation Essentials Group may from time to time require, is paid to The Generation Essentials Group 
 in respect thereof.                                                                                                                        |

If the board of directors
refuses to register a transfer they shall, within three calendar