Company: GCL
Filing Date: 2025-03-17
Form Type: DRS
Source: 0001213900-25-024502
Chunk: 84

Company: GCL Global Holdings Ltd
Filing Date: 2025-03-17
Form: DRS
Chunk 84
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 basic and diluted               |     |   | 126,276,372 |   |
| Pro forma loss per share – basic and diluted                          |     | $ |       (0.25 | ) |
| Weighted average shares calculation, basic and diluted                |     |   |             |   |
| Common Stock                                                          |     |   |             |   |
| RFAC Public share                                                     |     |   |   1,201,394 |   |
| RFAC Initial SPAC Management shares                                   |     |   |   4,875,000 |   |
| EBC Founder Shares                                                    |     |   |     200,000 |   |
| GCL Global’ s shareholders’ shares issued in the Business Combination |     |   | 120,000,000 |   |
| Rounding                                                              |     |   |         (22 | ) |
| Total weighted average shares outstanding                             |     |   | 126,276,372 |   |

<div align='center'>49

COMPARATIVE PER SHARE INFORMATION</div>

The following table sets forth the per share data of each of RFAC and the Company on a stand-alone basis and the unaudited pro forma condensed combined per share data for the six months ended September 30, 2024, after giving effect to the Business Combination with actual redemption of RFAC Class A Common Stock. The pro forma earnings information for the six months ended September 30, 2024, were computed as if the Business Combination had been completed on April 1, 2023.

You should read the information
in the following table in conjunction with the selected historical financial information summary included elsewhere in this prospectus,
and the historical financial statements of RFAC and the Company and related notes that are included elsewhere in this prospectus. The
unaudited RFAC and Company pro forma combined per share information is derived from, and should be read in conjunction with, the
unaudited pro forma condensed combined financial statements and related notes included elsewhere in this prospectus.

| Statement of Operations Data – For the six months ended September 30, 2024                     |     | Historical 
 RFAC*      |            |   |     | GCL |            |   |     | Pro Forma  
 Combined   
 Actual     
 redemption |             |   |
|:-----------------------------------------------------------------------------------------------|:----|:-----------|-----------:|:--|:----|:----|-----------: