Company: GCL
Filing Date: 2025-08-27
Form Type: DRS
Source: 0001213900-25-080905
Chunk: 203

Company: GCL Global Holdings Ltd
Filing Date: 2025-08-27
Form: DRS
Chunk 203
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 Shareholders pursuant to this prospectus.

Under the terms of the notes,
a Selling Shareholders may not convert the notes to the extent (but only to the extent) such Selling Shareholders or any of its affiliates
would beneficially own a number of shares of our ordinary shares which would exceed 9.99% of the outstanding shares of the Company. The
number of shares in the second column reflects these limitations. The Selling Shareholders may sell all, some or none of their shares
in this offering. See “Plan of Distribution.”

|                                  |     | Shares                               
 Beneficially Owned Prior to Offering |            |       |     |         |      |   |     | Shares to   
 be Sold     
 Pursuant to 
 this        |            |     | Shares       
 Beneficially 
 Owned After  
 Offering (2) |   |     |         |   |   |
| Name of Selling Stockholder      |     | Number                               |            |       |     | Percent |      |   |     | Prospectus  |            |     | Number       |   |     | Percent |   |   |
| ATW Interactive Ventures, LLC(1) |     |                                      | 13,539,366 | -3)(5 |     |         | 9.99 | % |     |             | 14,480,000 |     |              | 0 |     |         | 0 | % |
| Ronald Teng(4)                   |     |                                      |    625,000 |       |     |         |      |   |     |             |    625,000 |     |              | 0 |     |         | 0 | % |

| (1) | ATW                                                                                                                                     
 Partners Opportunities Management LLC (“Manager”), in its capacity as manager to ATW Interactive Ventures, LLC (the “Selling            
 Stockholder”), has discretionary authority to vote and dispose of the shares held by the Selling Stockholder and may be deemed          
 to be the beneficial owner of these shares. Kerry Propper and Antonio Ruiz-Gimenez, each in their capacity as Managing Members of the   
 Manager, may also be deemed to have investment discretion and voting power over the shares held by this Selling Stockholder. Manager,   
 Mr. Propper and Mr. Ruiz-Gimenez each disclaim any beneficial ownership of these shares. The address of this Selling Stockholder is c/o 
 ATW Partners Opportunities Management, LLC, One Penn Plaza, Floor 48, Suite 481