Company: GCL
Filing Date: 2025-08-27
Form Type: DRS
Source: 0001213900-25-080905
Chunk: 262

Company: GCL Global Holdings Ltd
Filing Date: 2025-08-27
Form: DRS
Chunk 262
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(the “Nekcom SPA”) pursuant to which the Company has agreed to purchase 12,250,000 of Nekcom’s Series B Preferred Stock
that would constitute 20% of the total outstanding shares of Nekcom for an aggregate purchase price of $15,000,000 consisting of (a)
$7,500,000 in cash, and (b) $7,500,000 in the Company’s ordinary shares.

<div align='center'>F-34

GCL GLOBAL HOLDINGS LTD AND ITS SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</div>

In
connection with the Nekcom SPA, 262,325 ordinary shares of GCL Global (the “Nekcom
Consideration Shares”) and an additional 262,325 ordinary shares of GCL Global (the
“Nekcom Additional Consideration Shares”) were issued in the name of Nekcom on
December 18, 2024 but were held in escrow until full recoupment date of the minimum
guarantee (“Full Recoupment Date”) when they will be released to either Nekcom
or the Company depending on the value of Nekcom Consideration Shares (the “Consideration
Shares VWAP”) based on the volume weighted average price of the Consideration Shares
over thirty (30) trading days immediately preceding the Full Recoupment Date. If the Consideration
Shares VWAP exceeds $7,500,000, all Nekcom Consideration Shares will be released to Nekcom,
and all Nekcom Additional Consideration Shares will be returned to the Company for cancellation.
In the event that the Consideration Shares VWAP is below $7,500,000 but exceeds $1,200,000,
Nekcom will receive such number of Nekcom Additional Consideration Shares from the escrow
account that would make up the shortfall, with the balance returned to the Company for cancellation.
If the value of the Nekcom Additional Consideration Shares so released from the escrow account
is not sufficient to make up the shortfall, the Company has agreed to either pay Nekcom cash
to make up the shortfall, or issue additional shares to Nekcom and use its reasonable best
efforts to register such shares for resale. If the Consideration Shares VWAP is below $1,200,000,
the Company has agreed to pay Nekcom the shortfall between $7,500,000 and the Consider