Company: GCL
Filing Date: 2025-04-03
Form Type: F-1
Source: 0001213900-25-028608
Chunk: 228

Company: GCL Global Holdings Ltd
Filing Date: 2025-04-03
Form: F-1
Chunk 228
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 by PubCo, and it only serve
the purpose of Spac Merger.

<div align='center'>F-15

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</div>

To the Shareholders and Board of Directors of GCL Global Limited

Opinion on the Financial Statements

We have audited the accompanying consolidated balance
sheets of GCL Global Limited (the “Company”) as of March 31, 2024 and 2023, the related consolidated statements of operations
and comprehensive income (loss), changes in shareholders’ equity and cash flows for each of the two years in the period ended
March 31, 2024, and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial
statements present fairly, in all material respects, the financial position of the Company as of March 31, 2024 and 2023, and the
results of its operations and its cash flows for each of the two years in the period ended March 31, 2024, in conformity with
accounting principles generally accepted in the United States of America.

Basis for Opinion

These financial statements are the responsibility
of the Company’s management. Our responsibility is to express an opinion on the Company’s financial statements based on our
audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”)
and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable
rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards
of the PCAOB. Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements
are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform,
an audit of its internal control over financial reporting. As part of our audits we are required to obtain an understanding of internal
control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal
control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess
the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond
to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial