Company: TGE
Filing Date: 2025-03-21
Form Type: DRS/A
Source: 0001013762-25-001106
Chunk: 436

Company: Generation Essentials Group
Filing Date: 2025-03-21
Form: DRS/A
Chunk 436
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 part of these financial statements.

F-4

BLACK SPADE ACQUISITION II CO STATEMENT OF CHANGES IN SHAREHOLDERS’ DEFICIT FOR THE PERIOD FROM MAY 9, 2024 (INCEPTION) THROUGH DECEMBER 31, 2024

| Balance – May 9, 2024 (inception)                                                     |     | Class A         
 Ordinary Shares 
 Shares          
 —               |     | Amount | — |     |         Class B 
 Ordinary Shares 
          Shares 
               — |   |     | Amount |   — |   |     | Additional 
 Paid-in    
 Capital    |          — |   |     | Accumulated 
 Deficit     |          — |   |     | Total         
 Shareholders’ 
 Deficit       |           — |   |
|:--------------------------------------------------------------------------------------|:----|:----------------|:----|:-------|:--|:----|----------------:|:--|:----|:-------|----:|:--|:----|:-----------|-----------:|:--|:----|:------------|-----------:|:--|:----|:--------------|------------:|:--|
| Issuance of Class B ordinary shares to Sponsor(1)                                     |     | —               |     |        | — |     |       4,312,500 |   |     |        | 431 |   |     |            |     24,569 |   |     |             |          — |   |     |               |      25,000 |   |
| Sale of 11,120,000 Private Placement Warrants                                         |     | —               |     |        | — |     |               — |   |     |        |   — |   |     |            |  5,560,000 |   |     |             |          — |   |     |               |   5,560,000 |   |
| Accretion of Class A ordinary shares to redemption amount                             |     | —               |     |        | — |     |               — |   |     |        |   — |   |     |            | (6,084,431 | ) |     |             | (4,455,304 | ) |     |               | (10,539,735 | ) |
| Fair Value of Public Warrants at issuance                                             |     | —               |     |        | — |     |               — |