Company: TGE
Filing Date: 2025-07-03
Form Type: F-1/A
Source: 0001213900-25-061211
Chunk: 296

Company: Generation Essentials Group
Filing Date: 2025-07-03
Form: F-1/A
Chunk 296
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     |          | 211,545 |     |              | 665,277 |   |     |             |  103,853 |   |     |         | 769,130 |   |

Notes:

| (i)  | Contribution from and distribution to ultimate holding company                                                                   
 during the years represents the dividend income net with withholding tax received, payments to or disposal receipts of financial 
 assets at FVTPL and settlement of derivative financial instruments directly through ultimate holding company.                    |
| (ii) | The amount is less than US$1,000.                                                                                                |

<div align='center'>The accompanying notes are an integral part of
the combined financial statements.

F-47

THE GENERATION ESSENTIALS GROUP
consolidated STATEMENTS OF CASH FLOWS
FOR THE YEARS ENDED DECEMBER 31, 2022, 2023 AND 2024</div>

|                                                                                          |     |    | Notes | Year ended December 31, |    2022 |   |     |         |    2023 |   |     |         |    2024 |   |
|:-----------------------------------------------------------------------------------------|:----|---:|:------|:------------------------|--------:|:--|:----|:--------|--------:|:--|:----|:--------|--------:|:--|
|                                                                                          |     |    |       | US$’000                 |         |   |     | US$’000 |         |   |     | US$’000 |         |   |
| OPERATING ACTIVITIES                                                                     |     |    |       |                         |         |   |     |         |         |   |     |         |         |   |
| Profit before tax                                                                        |     |    |       |                         |  23,722 |   |     |         |  19,059 |   |     |         |  46,373 |   |
| Adjustments for:                                                                         |     |    |       |                         |         |   |     |         |         |   |     |         |         |   |
| Interest income                                                                          |     |    |       |                         |       — |   |     |         |      (4 | ) |     |         |     (17 | ) |
| Dividend income                                                                          |     |    |       |                         |  (6,412 | ) |     |         |  (9,935 | )