Company: TGE
Filing Date: 2025-11-21
Form Type: POS AM
Source: 0001213900-25-113604
Chunk: 274

Company: Generation Essentials Group
Filing Date: 2025-11-21
Form: POS AM
Chunk 274
---
 (attributed to non-controlling interests
as appropriate).

On the disposal of a foreign operation
(that is, a disposal of the Group’s entire interest in a foreign operation, or a disposal involving loss of control over a subsidiary
that includes a foreign operation, or a partial disposal of an interest in a joint arrangement or an associate that includes a foreign
operation of which the retained interest becomes a financial asset), all of the exchange differences accumulated in equity in respect
of that operation attributable to the owners of the Company are reclassified to profit or loss.

Borrowing costs directly attributable
to the acquisition, construction or production of qualifying assets, which are assets that necessarily take a substantial period of time
to get ready for their intended use or sale, are added to the cost of those assets until such time as the assets are substantially ready
for their intended use or sale. All other borrowing costs are recognized in profit or loss in the period in which they are incurred.

| 3. | KEY SOURCE OF ESTIMATION UNCERTAINTY |

In the application of the Group’s
accounting policies, which are described in note 2.3, the Company is required to make judgments, estimates and assumptions about the
carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions
are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions
are reviewed on an on-going basis. Revisions to accounting estimates are recognized in the period in which the estimate is revised if
the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future
periods.

<div align='center'>F-45

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

| 3. | KEY SOURCE OF ESTIMATION UNCERTAINTY 
 (cont.)                              |

The following are the key assumptions
concerning the future, and other key sources of estimation uncertainty at the end of each reporting period that may have a significant
risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Impairment assessment of intangible assets

Determining whether intangible assets
are impaired requires an estimation of the recoverable amount of