Company: GCL
Filing Date: 2025-04-03
Form Type: F-1
Source: 0001213900-25-028608
Chunk: 267

Company: GCL Global Holdings Ltd
Filing Date: 2025-04-03
Form: F-1
Chunk 267
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 a gross revenue target of $37,852,287 
 and an NPAT of $1,238,956 for the fiscal year ending March 31, 2025.                                                                  |

Under Tranche 3 to 5, in the event that either one
or both the gross revenue and NPAT are below the gross revenue target and NPAT target, the consideration shares shall be reduced on a
pro rata basis.

Additionally, in the event of 2Game’s net
profit after tax (“NPAT”) is in excess of the NPAT target set out in financial performance milestones, the above mentioned
third parties shall be entitled to the additional cash and shares consideration (“Outperformance Consideration”).

On October 17, 2023, the Company, through a
contract addendum, to change the consideration payment schedule.

| ● | Tranche 2 — A consideration of                                                                                 
 $2,993,450, comprised of 100% in shares, is to be issued upon the successful listing on the US capital market. |

| ● | Tranche 4 — A consideration of                                                                                                   
 $1,000,000, comprising 100% in cash, is to be paid upon 2Game’s achievement in a gross revenue target of $31,072,773 and an NPAT 
 of $893,201 for the fiscal year ending March 31, 2024.                                                                           |

| ● | Tranche 5 — A consideration of                                                                                                     
 $1,320,000, comprising 100% in shares, is to be paid upon 2Game’s achievement in a gross revenue target of $37,852,287 and an NPAT 
 of $1,238,956 for the fiscal year ending March 31, 2025.                                                                           |

<div align='center'>F-41

GCL GLOBAL LIMITED AND ITS SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</div>

As of the date of the issuance of these consolidated
financial statements, the Company has paid Tranche 1 in cash consideration of $6,550 to above mentioned third parties upon completion
of the acquisition on September 1, 2022 (“Acquisition Date”). In addition, 2Game has achieved the above mentioned revenue
and NPAT target in tranche 3. As a result, the Company has paid cash consideration of $535,366 and issued 20,468 of the