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The Generation Essentials Group and Black Spade II Secure Shareholder Approval for NYSE-Listed Business Combination

1. BSII shareholders approved the business combination with TGE on May 30, 2025. 2. The business combination is set to close on June 3, 2025. 3. TGE will be publicly traded under the ticker symbols 'TGE' and 'TGEWS'. 4. TGE focuses on multimodal media, entertainment, and global hospitality services. 5. AMTD Group and its subsidiaries back TGE and are major players in the industry.

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Why Bullish?

The approval of the business combination is likely to boost investor confidence in BSII, mirroring trends seen in past SPAC mergers which often lead to initial price increases due to heightened market interest and speculation.

How important is it?

The business combination signals a significant strategic move and growth potential for BSII, which positions it favorably against competitors in multimedia and entertainment sectors.

Why Short Term?

The immediate aftermath of the merger closing, expected on June 3, 2025, typically ushers in volatility and potential price surges as market reacts to the newly traded entity.

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PARIS & NEW YORK & SINGAPORE--(BUSINESS WIRE)--The Generation Essentials Group (“TGE”) and Black Spade Acquisition II Co (NASDAQ: BSII) (“Black Spade II”) announced that their previously proposed business combination (the “Business Combination”) was approved at an extraordinary general meeting of Black Spade II’s shareholders on May 30, 2025. The Business Combination is expected to close on June 3, 2025. Upon closing, TGE will become the publicly traded entity, with its Class A ordinary shares and warrants to be listed under the ticker symbols “TGE” and “TGEWS”, respectively, on the New York Stock Exchange and NYSE American. About The Generation Essentials Group (formerly known as World Media and Entertainment Universal Inc.) The Generation Essentials Group, jointly established by AMTD Group, AMTD IDEA Group (NYSE: AMTD; SGX: HKB) and AMTD Digital Inc. (NYSE: HKD), is headquartered in France and focuses on global strategies and developments in multi-media, entertainment, and cultural affairs worldwide as well as hospitality and VIP services. TGE comprises L’Officiel, The Art Newspaper, movie and entertainment projects. Collectively, TGE is a diversified portfolio of media and entertainment businesses, and a global portfolio of premium properties. About Black Spade Acquisition II Co Black Spade Acquisition II Co (“Black Spade II”) is a blank check company incorporated for the purpose of effecting a business combination (Special Purpose Acquisition Company or SPAC). Listed on the Nasdaq, Black Spade II was founded by Black Spade Capital, which runs a global portfolio consisting of a wide spectrum of cross-border investments, and consistently seeks to add new investment projects and opportunities to its portfolio. Black Spade II is Black Spade Capital’s second SPAC. Black Spade Capital’s first SPAC completed its business combination with VinFast Auto Ltd., a Vietnamese electric vehicle company, in August 2023. At the time, it was the third largest ever de-SPAC by deal value (based on Dealogic data available through April 2024). About AMTD Group AMTD Group is a conglomerate with a core business portfolio spanning across media and entertainment, education and training, and premium assets and hospitality sectors. About AMTD IDEA Group AMTD IDEA Group (NYSE: AMTD; SGX: HKB) represents a diversified institution and digital solutions group connecting companies and investors with global markets. Its comprehensive one-stop business services plus digital solutions platform addresses different clients’ diverse and inter-connected business needs and digital requirements across all phases of their life cycles. AMTD IDEA Group is uniquely positioned as an active super connector between clients, business partners, investee companies, and investors, connecting the East and the West. For more information, please visit www.amtdinc.com or follow us on X (formerly known as “Twitter") at @AMTDGroup. About AMTD Digital Inc. AMTD Digital Inc. (NYSE: HKD) is a comprehensive digital solutions platform headquartered in France. Its one-stop digital solutions platform operates key business lines including digital media, content and marketing services, investments as well as hospitality and VIP services. For AMTD Digital’s announcements, please visit https://ir.amtdigital.net/investor-news. Safe Harbor Statement This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to,” and similar statements. Statements that are not historical facts, including statements about the beliefs, plans, and expectations of AMTD IDEA Group and/or AMTD Digital, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in the filings of AMTD IDEA Group and/or AMTD Digital with the SEC. All information provided in this press release is as of the date of this press release, and neither AMTD IDEA Group nor AMTD Digital undertakes any obligation to update any forward-looking statement, except as required under applicable law. More News From AMTD Digital Inc.

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