Company: TGE
Filing Date: 2025-11-21
Form Type: POS AM
Source: 0001213900-25-113604
Chunk: 35

Company: Generation Essentials Group
Filing Date: 2025-11-21
Form: POS AM
Chunk 35
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3.

Our ability to refinance
or repay these obligations will depend on various factors, including our financial condition, cash flow generation, creditworthiness
and prevailing market conditions at the time of refinancing. If we are unable to refinance our maturing debt on favorable terms, or at
all, we may face liquidity constraints, increased financing costs or default risks, which could materially and adversely affect our financial
position and operations.

The availability and terms
of refinancing are subject to macroeconomic conditions, interest rate fluctuations and the overall health of credit markets. We could
be challenged with more stringent borrowing terms, higher interest rates or additional collateral requirements, or an unwillingness to
extend credit in general. Additionally, our ability to refinance our debt may be influenced by our credit ratings, financial performance
and leverage ratios. Any deterioration in our financial metrics, operational performance or market perception could negatively impact
our access to capital and increase the cost of refinancing. Furthermore, covenants associated with existing or new debt agreements may
restrict our ability to pursue certain refinancing options or require compliance with specific financial thresholds, which could further
complicate the refinancing process.

Failure
to refinance maturing debt obligations, as and when payment becomes due could force us to
utilize available cash reserves or other liquidity sources to repay our debts, which could
reduce our ability to fund working capital, capital expenditures or strategic initiatives.
The inability to refinance could also lead to default, acceleration of debt obligations or
insolvency proceedings, any of which could have a material adverse effect on our business,
reputation and financial condition.

We operate and
use a L’Officiel AMTD composite brand, and not the historic L’Officiel brand.

The historic L’Officiel
brand originated from a magazine published in Paris since 1921 (the “Old Brand”). While we operate a new L’Officiel
AMTD brand (the “New Brand”) which in our opinion (upon advice of counsel) is distinct and distinguishable from all others
(including the Old Brand), there have been and may be usage of or matters relating to the Old Brand which we are unaware of or do not
control, such as the publication of magazines using the Old Brand. This has and may result in certain claims or assertions being made
in respect of the Old Brand or New Brand that we may need to defend ourselves against, and may require us to take action, including legal
action, to protect the New Brand (including