Company: TGE
Filing Date: 2025-07-03
Form Type: F-1/A
Source: 0001213900-25-061211
Chunk: 321

Company: Generation Essentials Group
Filing Date: 2025-07-03
Form: F-1/A
Chunk 321
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will not be reassessed unless the terms and conditions of the contract are subsequently changed.

The Group as a lessee

Allocation of consideration to components of a contract

For a contract that contains a lease component and one or
more additional lease or non-lease components, the Group allocates the consideration in the contract to each lease component on the basis
of the relative stand-alone price of the lease component and the aggregate stand-alone price of the non-lease components. The Group applies
practical expedient not to separate non-lease components from lease component, and instead account for the lease component and any associated
non-lease components as a single lease component.

Short-term leases

The Group applies the short-term lease recognition exemption
to leases that have a lease term of 12 months or less from the commencement date and do not contain a purchase option. Lease payments
on short-term leases are recognized as expense on a straight-line basis or another systematic basis over the lease term.

Right-of-use assets

The cost of right-of-use asset includes the amount of the
initial measurement lease liability.

Right-of-use assets are depreciated on a straight-line basis
over the shorter of its estimated useful life and the lease term.

Lease liabilities

At the commencement date of a lease, the Group recognizes
and measures the lease liability at the present value of lease payments that are unpaid at that date. In calculating the present value
of lease payments, the Group uses the incremental borrowing rate at the lease commencement date if the interest rate implicit in the lease
is not readily determinable.

The lease payments include fixed lease payments (including
in-substance fixed payments), less any lease incentives.

After the commencement date, lease liabilities are adjusted
by interest accretion and lease payments.

These financial statements are presented in US$, which is
the Company’s functional currency. Each entity in the Group determines its own functional currency and items included in the financial
statements of each entity are measured using that functional currency. Foreign currency transactions recorded by the entities in the Group
are initially recorded using their respective functional currency rates prevailing at the dates of the transactions. Monetary assets and liabilities
denominated in foreign currencies are translated at the functional currency rates of exchange ruling at the end of each reporting period.
Differences arising on settlement or translation of monetary items are recognized in profit or loss.

<div align='center'>F-66

THE GENERATION ESSENTIALS GROUP
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
F OR THE YEARS