Company: TGE
Filing Date: 2025-12-03
Form Type: 424B3
Source: 0001213900-25-117807
Chunk: 302

Company: Generation Essentials Group
Filing Date: 2025-12-03
Form: 424B3
Chunk 302
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         |   195 |   |
| Other receivables                                |     |                    | 2,194 |   |     |         | 2,287 |   |     |         | 1,621 |   |
| Less: impairment losses provided under ECL model |     |                    |  (501 | ) |     |         |  (501 | ) |     |         |  (501 | ) |
| Total                                            |     |                    | 1,959 |   |     |         | 2,645 |   |     |         | 3,042 |   |

| 17. | DERIVATIVE FINANCIAL INSTRUMENTS |

|                                                         |     | As of December 31, |         |     |         |   |     |         |        |
|                                                         |     |               2022 |         |     |    2023 |   |     |    2024 |        |
|                                                         |     |            US$’000 |         |     | US$’000 |   |     | US$’000 |        |
| Upside Participation and Profit Distribution Agreements |     |                    | 167,388 |     |         | — |     |         |      — |
| Future Settlement Contract                              |     |                    |  17,681 |     |         | — |     |         |      — |
| Price Protection Agreement                              |     |                    |       — |     |         | — |     |         | 30,339 |
| Total                                                   |     |                    | 185,069 |     |         | — |     |         | 30,339 |

On April 1, 2019, the subsidiaries
of the Group entered into “Upside Participation and Profit Distribution Agreements” (the “Agreements”) with a
counterparty in relation to the movement of the share price of the entirety of certain listed shares of investments the Group owns (the
“Underlying Assets”). The Agreements have an original term of 12 months and can be extended for any further period or
terminated at any time upon mutual agreement of the contracting parties.

Pursuant
to the Agreements:

| (a) | The counterparty is                                                                             
 entitled to 25% (the “Sharing Percentage”) of the gain of the Underlying Assets                 
 if the quoted market price or disposal prices of the Underlying Assets is higher the underlying 
 prices (“Underlying Prices;”);