Company: GCL
Filing Date: 2025-07-31
Form Type: 424B3
Source: 0001213900-25-070094
Chunk: 212

Company: GCL Global Holdings Ltd
Filing Date: 2025-07-31
Form: 424B3
Chunk 212
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 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, changed the consideration payment schedule to the following:

| ● | 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.                       |

On December 29, 2024, the
Company, through another addendum, changed the consideration payment schedule.

| ● | Tranche                                                                          
 2 — A consideration of $2,993,450, comprised of 10% in cash and 90%              
 in shares, is to be issued upon the successful listing on the US capital market. |

<div align='center'>F-32

GCL GLOBAL HOLDINGS LTD AND ITS SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</div>

As of the date of
issuance of these consolidated financial statements, the Company has achieved or partially achieved the milestones associated with
Tranches 1 through 5. The corresponding cash or share consideration for Tranches 1 through 4 has been fully settled, while the consideration for Tranche 5 remains outstanding.

The Company’s acquisition of 2Game was accounted
for as a business combination in accordance with ASC 805. The Company has allocated the purchase price of 2Game based upon the fair value
of the identifiable assets acquired and liabilities assumed on the acquisition date. The Company estimated the fair values of the assets
ac