Company: TGE
Filing Date: 2025-03-21
Form Type: DRS/A
Source: 0001013762-25-001106
Chunk: 460

Company: Generation Essentials Group
Filing Date: 2025-03-21
Form: DRS/A
Chunk 460
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 of the changes in the fair value of the Company’s Level 3 financial instruments that are measured at fair value on a recurring basis:

| Fair value at May 9, 2024 (inception)                                     
 Initial measurement of over-allotment option liability at August 29, 2024 |     | Over-allotment   
 option liability | —        
 253,969  |   |
|:--------------------------------------------------------------------------|:----|:-----------------|:---------|:--|
| Change in fair value of over-allotment option liability                   |     |                  | (8,405   | ) |
| Partially exercise of over-allotment option at September 26, 2024         |     |                  | (32,742  | ) |
| Forfeiture of over-allotment option at September 26, 2024                 |     |                  | (212,822 | ) |
| Fair value of over-allotment option liability at December 31, 2024        |     | $                | —        |   |

F-20

BLACK SPADE ACQUISITION II CO NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2024 NOTE 9 — FAIR VALUE MEASUREMENTS (cont.) The fair value of Public Warrants was determined using Monte Carlo Simulation Model. The Public Warrants have been classified within shareholders’ deficit and will not require remeasurement after issuance. The following table presents the quantitative information regarding market assumptions used in the valuation of the Public Warrants:

|                                            |     | August 29, 
 2024       |       |   |
|:-------------------------------------------|:----|:-----------|------:|:--|
| Underlying share price                     |     | $          | 10.00 |   |
| Exercise price                             |     | $          | 11.50 |   |
| Term (years)                               |     |            |   6.0 |   |
| Risk-free rate                             |     |            |   3.7 | % |
| Volatility                                 |     |            |   3.3 | % |
| De-SPAC probability with market adjustment |     |            |  20.0 | % |

NOTE 10 — SEGMENT INFORMATION ASC Topic 280, “Segment Reporting,” establishes standards for companies to report in their financial statement information about operating segments, products, services, geographic areas, and major customers. Operating segments are