Company: TGE
Filing Date: 2025-06-24
Form Type: F-1
Source: 0001213900-25-057225
Chunk: 284

Company: Generation Essentials Group
Filing Date: 2025-06-24
Form: F-1
Chunk 284
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; |

| b) | a breach of contract, such as a default or past due event; |

| c) | the lender(s) of the borrower, for economic or contractual                                                                       
 reasons relating to the borrower’s financial difficulty, having granted to the borrower a concession(s) that the lender(s) would 
 not otherwise consider; or                                                                                                       |

| d) | it is becoming probable that the borrower will enter bankruptcy 
 or other financial reorganization.                              |

Write-off policy

The Group writes off a financial asset when there is information
indicating that the counterparty is in severe financial difficulty and there is no realistic prospect of recovery, for example, when the
counterparty has been placed under liquidation or has entered into bankruptcy proceedings. Financial assets written off may still be subject
to enforcement activities under the Group’s recovery procedures, taking into account legal advice where appropriate. A write-off
constitutes a derecognition event. Any subsequent recoveries are recognized in profit or loss.

Measurement and recognition of ECL

The measurement of ECL is a function of the probability of
default, loss given default (i.e. the magnitude of the loss if there is a default) and the exposure at default. The assessment of the
probability of default and loss given default is based on historical data and forward-looking information. Estimation of ECL reflects
an unbiased and probability-weighted amount that is determined with the respective risks of default occurring as the weights.

Generally, the ECL is the difference between all contractual
cash flows that are due to the Group in accordance with the contract and the cash flows that the Group expects to receive, discounted
at the effective interest rate determined at initial recognition.

Lifetime ECL for accounts receivable from contract with customers
are considered on a collective basis taking into consideration past due information and relevant credit information such as forward looking
macroeconomic information.

<div align='center'>F-42

THE GENERATION ESSENTIALS GROUP
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
F OR THE YEARS ENDED DECEMBER 31, 2022, 2023 AND 2024</div>

| 2. | APPLICATION OF INTERNATIONAL FINANCIAL REPORTING STANDARDS 
 (cont.)                                                    |

For collective assessment, the Group takes into consideration
the following characteristics when formulating the grouping:

| ● | Past-due status; |

| ● | Nature, size and industry of debtors; and |

| ● | External credit ratings where