Company: TGE
Filing Date: 2025-11-21
Form Type: POS AM
Source: 0001213900-25-113604
Chunk: 300

Company: Generation Essentials Group
Filing Date: 2025-11-21
Form: POS AM
Chunk 300
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 |     |         |  167,388 |   |     |         | — |
| Change in fair value |     |                    |  44,461 |   |     |         |        — |   |     |         | — |
| Gain on disposal     |     |                    |     486 |   |     |         |   34,234 |   |     |         | — |
| Settlement           |     |                    |  (1,963 | ) |     |         | (201,411 | ) |     |         | — |
| Exchange realignment |     |                    |       — |   |     |         |     (211 | ) |     |         | — |
| As of December 31,   |     |                    | 167,388 |   |     |         |        — |   |     |         | — |

In June 2022, the Group entered
into a future settlement contract with the counterparty, pursuant to which the Group is entitled to receive certain listed equity shares
at a mutually agreed price at approximately US$53,272,000 in aggregate (the “Future Settlement Contract”) within one year.
The fair value of the underlying shares as of December 31, 2022 was approximately US$70,953,000. The Future Settlement Contract
was accounted for as a derivative financial asset and the net fair value gain recognized in profit or loss was approximately US$17,681,000
for the year ended December 31, 2022. During the year ended December 31, 2023, the Agreement was terminated and fully settled
with the counterparty with the consideration of approximately US$17,681,000.

AMTD Group Inc. and the Company entered
into an agreement over the share price of AMTD Digital Inc., pursuant to which the Group is entitled to recover from AMTD Group Inc.
if the share price of AMTD Digital Inc. is lower than that at the time the Group invested in the shares of AMTD Digital Inc. (the “Price
Protection Agreement”). The purpose of the Price Protection Agreement is to provide a financial safety net for the Group by ensuring
to receive a minimum value for its investments in shares of AMTD Digital Inc. The Price Protection Agreement was accounted for as a derivative
financial asset and the net fair value gain recognized in profit or loss was approximately US$30,339,000 for the year ended December 31,
2024.

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