Company: TGE
Filing Date: 2025-06-24
Form Type: F-1
Source: 0001213900-25-057225
Chunk: 85

Company: Generation Essentials Group
Filing Date: 2025-06-24
Form: F-1
Chunk 85
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 additional costs associated with resolving such matters
in other jurisdictions, which could materially and adversely affect our business, financial condition and results of operations and result
in a diversion of the time and resources of our management and board of directors.

<div align='center'>42

CAPITALIZATION
AND INDEBTEDNESS</div>

The following table sets forth
our cash and cash equivalents and capitalization as of December 31, 2024 on a (i) historical basis; and (ii) on a pro forma basis,
as adjusted to give effect to the consummation of the Business Combination and the other transactions contemplated by the Business Combination
Agreement. See “Unaudited Pro Forma Condensed Combined Financial Information” for information regarding the basis of
the pro forma calculation, including the assumptions and adjustments in respect thereof.

The information in this table
should be read in conjunction with our financial statements and the related notes thereto and other financial information included in
this prospectus, any prospectus supplement or incorporated by reference in this prospectus. Our historical results do not necessarily
indicate our expected results for any future periods.

|                                                  |     | As of             
 December 31, 2024 |           |     |           |           |
|:-------------------------------------------------|:----|:------------------|----------:|:----|:----------|----------:|
|                                                  |     | US$ in thousands  |           |     |           |           |
|                                                  |     | Actual            |           |     | Pro Forma |           |
| Cash and bank balances                           |     |                   |    19,978 |     |           |    37,299 |
| Equtiy:                                          |     |                   |           |     |           |           |
| Ordinary shares                                  |     |                   |         - |     |           |    60,041 |
| Reverses                                         |     |                   |   665,277 |     |           |   605,436 |
| Equtiy attributable to the owners of the Company |     |                   |   665,277 |     |           |   665,477 |
| Non-controlling interets                         |     |                   |   103,853 |     |           |   103,853 |
| Total equity (A)                                 |     |                   |   769,130 |     |           |   769,330 |
| Long-term debts:                                 |     |                   |           |