Company: TGE
Filing Date: 2025-07-10
Form Type: 424B3
Source: 0001213900-25-062835
Chunk: 94

Company: Generation Essentials Group
Filing Date: 2025-07-10
Form: 424B3
Chunk 94
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 The net assets of The Generation Essentials
Group will be stated at their pre-combination carrying amounts, with no goodwill or other intangible assets recorded.

The Business Combination,
which is not within the scope of IFRS 3 — Business Combinations (“IFRS 3”) since Black Spade II
does not meet the definition of a business in accordance with IFRS 3, is accounted for within the scope of IFRS 2 — Share-based Payment (“IFRS 2”). Any excess of the fair value of consideration transferred to Black Spade II shareholders
over the fair value of Black Spade II’s identifiable net assets acquired represents compensation for the service of a stock
exchange listing for its shares and is expensed as incurred.

One-time direct and incremental
transaction costs anticipated to be incurred prior to, or concurrent with, the consummation are reflected in the unaudited pro forma
condensed combined statement of profit or loss and other comprehensive income and are recognized as expenses.

The unaudited pro forma adjustments
are based on information currently available, and assumptions and estimates underlying the unaudited pro forma adjustments are described
in the accompanying notes. Actual results may differ materially from the assumptions used to present the accompanying unaudited pro forma
condensed combined financial information.

The Generation Essentials
Group and Black Spade II did not have any historical relationship prior to the Transactions. Accordingly, no pro forma adjustments
were required to eliminate activities between the companies.

The unaudited pro forma condensed
combined statement of financial position as of December 31, 2024, assumes that the Transactions occurred on December 31, 2024.

The unaudited pro forma condensed
combined statement of profit or loss and other comprehensive income for the year ended December 31, 2024 presents the pro forma adjustments
of the Transactions, as if they had been completed on January 1, 2024.

The unaudited pro forma condensed
combined statement of financial position as of December 31, 2024 has been prepared using, and should be read in conjunction with,
the following:

The unaudited pro forma condensed
statements of profit or loss and other comprehensive income for the year ended December 31, 2024 have been prepared using, and should
be read in conjunction with, the following:

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Management has made significant
estimates and assumptions in its determination of the pro forma adjustments. As the unaudited pro forma condensed combined financial