Company: TGE
Filing Date: 2025-11-21
Form Type: POS AM
Source: 0001213900-25-113604
Chunk: 241

Company: Generation Essentials Group
Filing Date: 2025-11-21
Form: POS AM
Chunk 241
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.0001 each, (ii) 19,285,911 voting class B ordinary shares of a par value of US$0.0001 each, and (iii) 6,343,056 non-voting redeemable              
 preferred shares of a par value of US$0.0001 each to US$50,000 divided into 1,887,814,313,346.23 1 shares of a par value of US$0.0000000264856557377049 
 each, comprising of (i) 1,791,048,851,868.472 voting class A ordinary shares of a par value of US$0.0000000264856557377049 each, (ii)                   
 72,816,437,663.44293 voting class B ordinary shares of a par value of US$0.0000000264856557377049 each, and (iii) 23,949,023,814.31334                  
 non-voting redeemable preferred shares of a par value of US$0.0000000264856557377049 each.                                                              |

| (iv) | Upon the completion of the business combination, the Company                                                   
 issued 6,004,126 voting Class A ordinary share to the founder and non-redeemed shareholders of Black Spade II. |

<div align='center'>F-17

THE GENERATION ESSENTIALS GROUP

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE six months ended June 30, 2025</div>

| 20. | RELATED PARTY TRANSACTIONS |

In addition to the transactions
disclosed elsewhere in these condensed consolidation financial statements, the Group had the following transactions with related parties
during the period:

|                           |     | Six months ended |       |     |          |       |
|                           |     |         June 30, |       |     |          |       |
|                           |     |             2025 |       |     |     2024 |       |
|                           |     |          US$’000 |       |     |  US$’000 |       |
|                           |     |       -unaudited |       |     | -audited |       |
| Marketing services income |     |                  | 2,737 |     |          | 2,730 |

| 21. | SUBSEQUENT EVENTS |

Other than disclosed elsewhere in
the condensed consolidated financial