Company: GCL
Filing Date: 2025-03-17
Form Type: DRS
Source: 0001213900-25-024502
Chunk: 268

Company: GCL Global Holdings Ltd
Filing Date: 2025-03-17
Form: DRS
Chunk 268
---
— 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.                                                                           |

<div align='center'>F-41

GCL GLOBAL LIMITED AND ITS SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</div>

As of the date of the issuance of these consolidated
financial statements, the Company has paid Tranche 1 in cash consideration of $6,550 to above mentioned third parties upon completion
of the acquisition on September 1, 2022 (“Acquisition Date”). In addition, 2Game has achieved the above mentioned revenue
and NPAT target in tranche 3. As a result, the Company has paid cash consideration of $535,366 and issued 20,468 of the Company’s
shares to above mentioned third parties in terms of the financial performance for the year ended March 31, 2023.

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
acquired and liabilities assumed at the acquisition date in accordance with the business combination standard issued by the FASB using
the fair value approach. Management of the Company is responsible for determining the fair value of assets acquired, liabilities assumed,
and intangible assets identified as of the acquisition date. Acquisition-related costs incurred for the acquisitions are not material
and have been expensed as incurred in general and administrative expenses.

The Company concluded that the acquisition of