Company: GCL
Filing Date: 2025-03-17
Form Type: DRS
Source: 0001213900-25-024502
Chunk: 234

Company: GCL Global Holdings Ltd
Filing Date: 2025-03-17
Form: DRS
Chunk 234
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 (“Starlight”)(2)      |     | ● A Hong Kong Company                                                          
 ● Incorporated on November 08,                                                 
 2019                                                                           
 ● Distribution of console game                                                 
 software                                                                       |     | 100% owned by GCL Global SG |
| Starry Jewelry Pte. Ltd. (“Starry”)(1)             |     | ● A Singapore Company                                                          
 ● Incorporated on June 16,                                                     
 2020                                                                           
 ● Retail in jewelry.                                                           |     | 100% owned by Titan Digital |
| Martiangear Pte. Ltd. (“Martiangear”)(3)           |     | ● A Singapore Company                                                          
 ● Incorporated on September 24,                                                
 2020                                                                           
 ● Retail in gaming desk and chair                                              |     | 100% owned by Titan Digital |
| 2 Game Pro Ltd                                     |     | ● A Brazil Company                                                             
 ● Incorporated on August 25,                                                   
 2023                                                                           
 ● Distribution of console game                                                 
 code                                                                           |     | 100% owned by 2Game         |

| (1) | On April 12, 2023, Titan Digital acquired a 100% equity interest in Starry from Debbie Soon Rui Yi (“Debbie”), the                  
 spouse of Jianhao Tan, the Chief Executive Officer (“CEO”) of Titan Digital, through issuance of 17,648 or 15% of Titan Digital’s   
 ordinary shares to Debbie. As a result, the Company’s equity interest in Titan Digital was reduced from 100% to 85% upon completion 
 of the acquisition of Starry. (see Note 3)                                                                                          |

<div align='center'>F-22

GCL GLOBAL LIMITED AND ITS SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</div>

| (2) | On July 14, 2023, Starlight was dissolved due to cease operation since September 2021. |

| (3) | On September 4, 2023, Titan Digital acquired 100% equity interest of Martiangear from two third-party for cash consideration 
 of $148,000 and share consideration consisted of issuance of 53,711 ordinary shares by GCL BVI. (see Note 3)                 |

Note 2 — Summary of significant accounting policies

The consolidated financial statements have been
prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) pursuant
to the