Company: GCL
Filing Date: 2025-08-27
Form Type: DRS
Source: 0001213900-25-080905
Chunk: 137

Company: GCL Global Holdings Ltd
Filing Date: 2025-08-27
Form: DRS
Chunk 137
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Game SPA, in the event that 2Game fails to generate
at least $70,000,000 of revenue and net profit after tax of at least $2,500,000 during fiscal year 2026, the 2Game Sellers will be required
to buy back the Sale Shares for $1,272,000. In the event that the financial targets for fiscal year 2026 are met, GCL Global SG will
have the right to require the 2Game Sellers to buy back the Sale Shares for $1,272,000.

<div align='center'>78</div>

OCBC Warrant

In connection with that
certain Facility Letter dated as of October 1, 2024, as supplemented by the Supplemental Letter dated as of March 12, 2025 and July 7,
2025 between Epicsoft Asia Pte. Ltd. (the “Borrower”), a wholly-owned subsidiary of the Company, and Oversea-Chinese Banking
Corporation Limited (“OCBC”) for a financing of up to SGD5,000,000 (the “Facility Agreement”), the Company issued
to OCBC a warrant (the “OCBC Warrant”) to purchase up to 899,281 ordinary shares of the Company (the “Warrant Shares”)
at an exercise price of US$4.17 per share (the “Exercise Price”) to meet one of the conditions precedent for the Borrower
to draw down funds under the Facility Agreement. The aggregate Exercise Price payable for the total number of Warrant Shares purchasable
under the OCBC Warrant shall be US$3,750,000, and shall first be used to repay all principal, interest and other amounts outstanding
under the Facility Agreement with the remainder, if any, for the Borrower’s working capital. The OCBC Warrant was issued in reliance
upon the exemption from registration provided by Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”).
On July 29, 2025, the Company and OCBC entered into Amendment No. 1 to the Warrant (the “Amendment”) to clarify their commercial
understanding that none of the terms of the OCBC Warrant shall have any legal effect on the Borrower and/or the Company unless and until
the entire SGD 5,000,000 has been disbursed to the Borrower by OCBC under the Facility Agreement; and that OC