Company: TGE
Filing Date: 2025-12-03
Form Type: 424B3
Source: 0001213900-25-117807
Chunk: 307

Company: Generation Essentials Group
Filing Date: 2025-12-03
Form: 424B3
Chunk 307
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| Within one year                                                    |     |                    |    571 |     |         |    741 |     |         |     176 |
| Within a period of more than one year but no more than two years   |     |                    |    582 |     |         |    302 |     |         |  50,321 |
| Within a period of more than two years but no more than five years |     |                    | 50,544 |     |         | 51,003 |     |         | 159,046 |
| More than five years                                               |     |                    |      — |     |         | 10,258 |     |         |  10,066 |
|                                                                    |     |                    | 51,697 |     |         | 62,304 |     |         | 219,609 |

Fixed-rate bank borrowings of US$11,139,000
and US$10,983,000 as of December 31, 2023 and 2024 respectively are bearing an interest rate 5.0% per annum. All other floating-rate
bank borrowings are bearing a variable interest rate with a weighted average contractual interest rate of 3.18% p.a., 9.11% p.a. and
4.03% p.a., respectively, as of December 31, 2022, 2023 and 2024.

As of December 31, 2022, 2023
and 2024, the Group had bank borrowings of approximately US$51,117,000, US$61,794,000 and US$219,584,000, respectively, secured by the
Group’s properties with carrying amounts of approximately US$173,126,000, US$194,635,000 and US$551,099,000, respectively.

<div align='center'>F-63

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

| 23. | LEASE LIABILITIES |

|                                                        |     | As of December 31, |      |   |     |         |      |   |     |         |      |   |
|                                                        |     |               2022 |      |   |     |    2023 |      |   |     |