Company: TGE
Filing Date: 2025-12-03
Form Type: 424B3
Source: 0001213900-25-117807
Chunk: 186

Company: Generation Essentials Group
Filing Date: 2025-12-03
Form: 424B3
Chunk 186
---
 U.S. Holders that
hold Securities as “capital assets” within the meaning of section 1221 of the Internal Revenue Code of 1986, as amended (the
“Code”) (generally, property held for investment) and assumes that any distributions made (or deemed made) by us on the Securities
and any consideration received (or deemed received) by us on the sale or other taxable disposition of Securities will be in U.S. dollars.
This discussion does not discuss all aspects of U.S. federal income taxation that may be relevant to holders in light of their particular
circumstances or status including:

| ● | our                    
 officers or directors; |

| ● | financial                                    
 institutions or financial services entities; |

| ● | broker-dealers; |

| ● | taxpayers                                                
 that are subject to the mark-to-market accounting rules; |

| ● | tax-exempt 
 entities;  |

| ● | governments                               
 or agencies or instrumentalities thereof; |

| ● | insurance  
 companies; |

| ● | regulated                                              
 investment companies or real estate investment trusts; |

| ● | expatriates                                         
 or former long-term residents of the United States; |

<div align='center'>116</div>

| ● | persons                                                                                   
 that actually or constructively own five percent or more of our shares, by vote or value, 
 or that will actually or constructively own five percent or more of our voting shares or  
 five percent or more of the total value of any class of our shares;                       |

| ● | persons                                                                                    
 that acquired Securities pursuant to an exercise of employee share options, in connection  
 with employee share incentive plans or otherwise as compensation or in connection with the 
 performance of services;                                                                   |

| ● | persons                                                                                         
 that are resident or ordinarily resident in or have a permanent establishment in a jurisdiction 
 outside the U.S. to which the income from the Securities is attributable;                       |

| ● | persons                                                                                      
 subject to special tax accounting rules as a result of any item of gross income with respect 
 to the Securities being taken into account in an applicable financial statement;             |

| ● | persons                                                                                   
 that hold the Securities as part of a straddle, constructive sale, hedging, conversion or 
 other integrated or similar transaction; or                                               |

| ● | persons                                           
 whose functional currency is not the U.S. dollar. |

This discussion is based
on the Code, proposed, temporary and final Treasury Regulations promulgated under the Code, and judicial and administrative interpretations