Company: GCL
Filing Date: 2025-07-31
Form Type: 424B3
Source: 0001213900-25-070094
Chunk: 239

Company: GCL Global Holdings Ltd
Filing Date: 2025-07-31
Form: 424B3
Chunk 239
---
The summary of warrants activity
is as follows:

| March 31, 2023 |     | Warrants    
 Outstanding |          - |     | Ordinary Shares Issuable |          - |     | Weighted 
 Average  
 Exercise 
 Price    |     - |     | Average     
 Remaining   
 Contractual 
 Life        |    - |
|:---------------|:----|:------------|-----------:|:----|:-------------------------|-----------:|:----|:---------|------:|:----|:------------|-----:|
| Granted        |     |             |          - |     |                          |          - |     | $        |     - |     |             |    - |
| Forfeited      |     |             |          - |     |                          |          - |     | $        |     - |     |             |    - |
| Exercised      |     |             |          - |     |                          |          - |     | $        |     - |     |             |    - |
| March 31, 2024 |     |             |          - |     |                          |          - |     | $        |     - |     |             |    - |
| Granted        |     |             | 16,500,000 |     |                          | 16,500,000 |     | $        | 11.50 |     |             | 5.00 |
| Forfeited      |     |             |          - |     |                          |          - |     | $        |     - |     |             |    - |
| Exercised      |     |             |          - |     |                          |          - |     | $        |     - |     |             |    - |
| March 31, 2025 |     |             | 16,500,000 |     |                          | 16,500,000 |     | $        | 11.50 |     |             | 4.87 |

Note 20 — Income tax

Cayman Islands

GCL Global is incorporated
in Cayman Islands and is not subject to tax on income or capital gains under current Cayman Island law. Additionally, upon payments of
dividends to the shareholders, no Cayman Islands withholding tax will be imposed.

British Virgin Islands

GCL BVI is incorporated in
British Virgin Islands and are not subject to tax on income or capital gains under current British Virgin Island law.