Company: TGE
Filing Date: 2025-05-06
Form Type: F-4/A
Source: 0001213900-25-040058
Chunk: 504

Company: Generation Essentials Group
Filing Date: 2025-05-06
Form: F-4/A
Chunk 504
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 |     |         |
|                                                         |     |               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 |

Upside Participation and Profit Distribution Agreements 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;”); (b)The counterparty shall pay a sum equivalent to the loss of the Underlying Assets if the quoted market price or disposal prices of the Underlying Assets is lower than Underlying Price (“Participation Cost”); and

F-62

THE GENERATION ESSENTIALS GROUP
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2022, 2023 AND 2024 17.DERIVATIVE FINANCIAL INSTRUMENTS (cont.) (c)Dividend or cash distributions generated from the Underlying Assets during the term of the Agreements shall be received by the subsidiaries of the Group for their sole benefit and shall not be included in the computation of the gain or the Participation Cost. In December 2022, the Underlying Assets have been partially sold, in which 2,673,000 listed shares were sold in the market at the average disposal price of