Company: GCL
Filing Date: 2025-09-09
Form Type: 424B3
Source: 0001213900-25-086274
Chunk: 209

Company: GCL Global Holdings Ltd
Filing Date: 2025-09-09
Form: 424B3
Chunk 209
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Ernst & Young LLP)               
 Consolidated Balance Sheets                                                        
 as of March 31, 2025 and 2024                                                      
 Consolidated Statements                                                            
 of Operations and Comprehensive Income for the years ended March 31, 2025 and 2024 |     | F-61 
 F-63 
 F-64 |
|:-----------------------------------------------------------------------------------|:----|:-----|
| Consolidated Statements                                                            
 of Changes in Shareholders’ Equity for the years ended March 31, 2025 and 2024     |     | F-65 |
| Consolidated Statements                                                            
 of Cash Flows for the years ended March 31, 2025 and 2024                          |     | F-66 |
| Notes to Consolidated                                                              
 Financial Statements                                                               |     | F-67 |

<div align='center'>F-1

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</div>

To the Shareholders and Board of Directors of

GCL Global Holdings Limited

Opinion on the Financial Statements

We have audited the accompanying consolidated
balance sheets of GCL Global Holdings Limited (the “Company”) as of March 31, 2025 and 2024, the related consolidated statements
of operations and comprehensive income (loss), changes in shareholders’ equity and cash flows for each of the three years in the
period ended March 31, 2025, and the related notes (collectively referred to as the “financial statements”). In our opinion,
the financial statements present fairly, in all material respects, the financial position of the Company as of March 31, 2025 and 2024,
and the results of its operations and its cash flows for each of three years in the period ended March 31, 2025, in conformity with accounting
principles generally accepted in the United States of America.

Basis for Opinion

These financial statements are the responsibility
of the Company’s management. Our responsibility is to express an opinion on the Company’s financial statements based on our
audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”)
and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable
rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the
standards of the PCAOB. Those standards require that we plan and perform the audits to obtain reasonable assurance