Company: GCL
Filing Date: 2025-08-27
Form Type: DRS
Source: 0001213900-25-080905
Chunk: 260

Company: GCL Global Holdings Ltd
Filing Date: 2025-08-27
Form: DRS
Chunk 260
---
 contingent consideration as of March 31,       
 2024 and 2023 were estimated by applying income approach which considers the present value 
 of the expected future payment, discounted using a risk-adjusted discount rate of 5.3%, as 
 of March 31, 2025, 2024 and 2023, which are not observable in the market (level 3 inputs). |

<div align='center'>F-33

GCL GLOBAL HOLDINGS LTD AND ITS SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</div>

The following table summarizes
the fair value of the identifiable assets acquired and liabilities assumed at the acquisition date, which represents the net purchase
price allocation at the date of the acquisition of 2Game:

|                            |     | Fair value  
 as of       
 acquisition 
 date        |           |   |
|:---------------------------|:----|:------------|----------:|:--|
| Total consideration        |     | $           | 3,367,398 |   |
| Non-controlling interest   |     |             | 2,590,000 |   |
| Less: net assets of 2Game: |     |             |           |   |
| Cash                       |     |             |       428 |   |
| Prepayments                |     |             |     7,338 |   |
| Intangible assets          |     |             | 4,742,000 |   |
| Total assets               |     |             | 4,749,766 |   |
| Accounts payable           |     |             |   (33,382 | ) |
| Deferred tax liability     |     |             |  (806,140 | ) |
| Total liabilities          |     |             |  (839,522 | ) |
| Total net assets of 2Game  |     |             | 3,910,244 |   |
| Goodwill                   |     | $           | 2,047,154 |   |

The purchase price was allocated
to the identifiable intangible assets acquired and liabilities assumed based on their acquisition date estimated fair values. The identifiable
intangible assets principally included customer relationships, with estimated useful lives of 4.6 years based on the expected future
economic benefit of the assets and are being amortized over the estimated useful life in proportion to the economic benefits consumed
using the straight-line method.

The
Company, with the assistance of a third-party appraiser, assessed