Company: GCL
Filing Date: 2025-03-17
Form Type: DRS
Source: 0001213900-25-024502
Chunk: 300

Company: GCL Global Holdings Ltd
Filing Date: 2025-03-17
Form: DRS
Chunk 300
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 their equity interests in GCL BVI to GCL Global, resulting in GCL BVI becoming
a 99.8%-owned subsidiary of GCL Global (the “Reorganization”).

<div align='center'>F-61

GCL GLOBAL LIMITED AND ITS SUBSIDIARIES

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</div>

Before
and after the Reorganizations, GCL Global, together with its subsidiaries (as indicated above), is effectively controlled by the major
shareholders, and therefore the Reorganization is considered as a recapitalization of entities under common control in accordance with
Accounting Standards Codification (“ASC”) 805-50-25. The consolidation of the Company and its subsidiaries have been accounted
for at historical cost and prepared on the basis as if the aforementioned transactions had become effective as of the beginning of the
first period presented in the accompanying unaudited condensed consolidated financial statements in accordance with ASC 805-50-45-5.
The accompanying unaudited condensed consolidated financial statements reflect the activities of GCL Global and each of the following
subsidiaries for the six months ended and as of September 30, 2024:

| Name                                                
 Grand Centrex Limited (“GCL BVI”)                   
 GCL Global Pte. Ltd (“GCL Global SG”)               |     | Background                                                                                                  
 ●       A BVI Company                                                                                       
 ●       Incorporated on November 16,                                                                        
 2018                                                                                                        
 ●                                                                                                           
 Holding Company                                                                                             
 ●       A Singapore Company                                                                                 
 ●       Incorporated on July 26,                                                                            
 2021                                                                                                        
 ●       Holding Company                                                                                     |     | Ownership                   
 99.8% owned by GCL Global   
 100% owned by GCL Global    |
|:----------------------------------------------------|:----|:------------------------------------------------------------------------------------------------------------|:----|:----------------------------|
| Titan Digital Media Pte. Ltd. (“Titan Digital”) (1) |     | ●       A Singapore Company                                                                                 
 ●       Incorporated on January 08,                                                                         
 2018                                                                                                        
 ●                                                                                                           
 An advertising Company that provides video production, and advertising in social media platform.            |     | 85% owned by GCL Global SG  |
| Epicsoft Asia Pte. Ltd (“Epic SG”)                  |     | ●       A Singapore Company                                                                                 
 ●       Incorporated on September 23,                                                                       
 2014                                                                                                        
 ●                                                                                                           
 A gaming Company that