Company: GCL
Filing Date: 2025-08-27
Form Type: DRS
Source: 0001213900-25-080905
Chunk: 300

Company: GCL Global Holdings Ltd
Filing Date: 2025-08-27
Form: DRS
Chunk 300
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 test, and investment test pursuant to
S-X Rule 3-05. Pursuant to ASC 805-10-50-2 (h). the unaudited pro forma information of the Company for the year ended March 31, 2025,
2024, and 2023 set forth below gives effect to the business combination as if it had occurred on April 1, 2022 and combines the results
of operations of the Company since then. The unaudited pro forma information is presented after applying the Company’s accounting
policies and elimination intra-entity transactions, as applicable. The unaudited pro forma information does not include any impact of
transaction synergies and is presented for informational purposes only and is not necessarily indicative of the results of operations
that would actually have been occurred had the business combination been consummated as of that time or that may result in the future:

|                                |     | For the 
 2025    |         Year 
 ended  March 
          31, |     | For the 
 2024    |         Year 
 ended  March 
          31, |     | For the 
 2023    |         Year 
 ended  March 
          31, |
|:-------------------------------|:----|:--------|-------------:|:----|:--------|-------------:|:----|:--------|-------------:|
| Unaudited pro forma revenue    |     | $       |  286,786,289 |     | $       |  252,275,930 |     | $       |  225,720,027 |
| Unaudited pro forma net income |     | $       |    8,083,117 |     | $       |    3,527,810 |     | $       |    6,557,743 |

Due to the timing of the
acquisition, the initial purchase accounting is incomplete. The Company is evaluating the potential effects of this acquisition on the
consolidated financial statements. The Ban Leong acquisition will be evaluated in accordance with ASC 805, “Business Combination”

On May 21, 2025, the Company
entered into a Securities Purchase Agreement with an investor for the issuance of a senior unsecured convertible note with an initial
principal amount of US$2.9 million, issued at a discount for a purchase price of US$2.61 million. The note bears interest at 6% per annum,
increasing to 18