Company: GCL
Filing Date: 2025-04-30
Form Type: 424B3
Source: 0001213900-25-037646
Chunk: 9

Company: GCL Global Holdings Ltd
Filing Date: 2025-04-30
Form: 424B3
Chunk 9
---
. Heightened tensions between key global powers, such as the United States and China, have led to increased regulatory
scrutiny, trade barriers, and cross-border investment disruptions — trends which may directly or indirectly impact the Company’s
supply chain reliability and expansion plans.

<div align='center'>8</div>

Further, conflicts such as the Russia-Ukraine
war have amplified inflationary pressures and energy costs worldwide, adding to operational challenges. Instability in regions such as
the South China Sea could weigh on economic activity in Asia, affecting consumer sentiment and regional business operations. As businesses
globally reassess their strategies and tighten expenditures in response to uncertainty, the Company could be exposed to risks of delayed
expansion initiatives, operational restructuring pressures, and broader cost-cutting measures.

| 6.3 | Structural Shifts in Consumer Behaviour and Distribution Models Impacting Growth Prospects |

The Company’s core operations
in the wholesale and distribution of technology products are increasingly exposed to the impact of evolving consumer preferences, accelerated
digital adoption, and changing retail dynamics:

| 6.3.1 | Evolving Consumer Patterns and the Rise of E-Commerce |

Consumer buying behaviour continues to
shift towards online channels and integrated digital ecosystems, challenging traditional wholesale and retail models. The rapid expansion
of e-commerce platforms and direct-to-consumer strategies by manufacturers has intensified competition and placed pressure on intermediaries,
including technology distributors such as the Company.

In an environment where consumer spending
on non-essential technology products may weaken due to broader economic uncertainty, the Company faces the dual challenge of sustaining
market share and maintaining profitability.

| 6.3.2 | Increased Competition and Need for Continuous Innovation |

To remain competitive, technology distributors
are required to continually reinvest in product innovation, digital capabilities, and customer engagement strategies. However, rising
operational costs, inflation, and fluctuating consumer confidence could constrain the Company’s ability to adapt rapidly, reposition
its offerings, or expand its market reach sustainably.

Without significant reinvestment and strategic
transformation, the Company risks erosion of its competitive position and profitability over the long term.

Against this backdrop, the Offeror believes
the Offer provides Shareholders with a compelling opportunity to realise immediate and certain value, while allowing the Company to pursue
growth as part of an integrated, future-ready gaming and technology platform.

<div align='center'>9</div>

| 6.4 | Opportunity for Shareholders to realise their investment in the Shares at a premium to market price without 
 in