Company: TGE
Filing Date: 2025-07-10
Form Type: 424B3
Source: 0001213900-25-062835
Chunk: 195

Company: Generation Essentials Group
Filing Date: 2025-07-10
Form: 424B3
Chunk 195
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 U.S. Holder held such shares directly, even though the
U.S. Holder will not receive any proceeds of those distributions or dispositions. A mark-to-market election generally would
not technically be available with respect to such lower-tier PFIC. U.S. Holders are urged to consult their own tax advisors
regarding the tax issues raised by lower-tier PFICs.

We do not intend to provide
information necessary for U.S. Holders to make a “qualified electing fund” election under Section 1295 of the Code which,
if available, would result in tax treatment different from (and generally less adverse than) the Default PFIC regime described above.

A U.S. Holder that owns
(or is deemed to own) shares in a PFIC during any taxable year of the U.S. Holder, may have to file an IRS Form 8621 (whether
or not a market-to-market election is made) with such U.S. Holder’s U.S. federal income tax return and provide such
other information as may be required by the U.S. Treasury Department. The rules dealing with PFICs and the elections described
above are very complex and are affected by various factors in addition to those described above. Accordingly, U.S. Holders should
consult their own tax advisors concerning the application of the PFIC rules under their particular circumstances.

THE RULES DEALING WITH PFICS ARE COMPLEX AND ARE IMPACTED BY VARIOUS FACTORS IN ADDITION TO THOSE DESCRIBED ABOVE. ALL U.S. HOLDERS SHOULD CONSULT THEIR TAX ADVISORS REGARDING THE CONSEQUENCES TO THEM OF THE PFIC RULES, INCLUDING, WITHOUT LIMITATION, WHETHER A MARK-TO-MARKET ELECTION OR ANY OTHER ELECTION IS AVAILABLE AND THE CONSEQUENCES TO THEM OF ANY SUCH ELECTION, AND THE IMPACT OF ANY PROPOSED OR FINAL PFIC TREASURY REGULATIONS.

<div align='center'>123

DESCRIPTION
OF SHARE CAPITAL</div>

The following description
of the material terms of our securities includes a summary of specified provisions of the Amended Articles. This description is qualified
by reference to the Amended Articles. All capitalized terms used in this section are as defined in the Amended Articles, unless elsewhere
defined herein.

The Generation Essentials
Group is a Cayman Islands exempted company with limited liability and its affairs are governed by the Amended Articles, the Cayman Islands
Companies Act, and the common law of the Cayman