Company: GCL
Filing Date: 2025-08-27
Form Type: DRS
Source: 0001213900-25-080905
Chunk: 41

Company: GCL Global Holdings Ltd
Filing Date: 2025-08-27
Form: DRS
Chunk 41
---
 such laws and regulations could affect our ability to provide services on its
platform in the manner that it has done, expects to do, or at all. In addition, as we evolve our business or make changes to our operations,
it may be subject to additional laws and regulations. Historical or future non-compliance with these laws and regulations could result
in significant criminal and civil lawsuits, penalties, forfeiture of significant assets, or other enforcement actions. Costs associated
with fines and enforcement actions, as well as reputational harm, changes in compliance requirements, or limits on our ability to expand
our product offerings, could harm our business.

<div align='center'>20</div>

We are subject to risks associated with operating and investing in Asia.

We derive a significant
portion of its revenue from its operations in Asia, and we intend to continue to develop and expand our business and penetration in the
region. Our operations and investments in Asia are subject to various risks related to the economic, political and social conditions
of the countries in which we operate. For example, steep increase in tariffs placed on our console games and gaming consoles could materially
adversely affect our results of operations if we cannot successfully pass onto the consumers the increased costs as a result of these
tariffs, or if the resulting increased price would result in a decreased demand for the game titles we distribute or publish. Some of
the other risks include the following:

| ● | inconsistent and evolving regulations, licensing and legal requirements may increase our operational 
 risks and cost of operations among the countries in Asia in which we operates;                       |

| ● | currencies may be devalued or may depreciate or currency restrictions or other restraints on transfer 
 of funds may be imposed;                                                                              |

| ● | the effects of inflation within Asia generally and/or within any specific country in which we operate 
 may increase our cost of operations;                                                                  |

| ● | governments or regulators may impose new or more burdensome regulations, taxes or tariffs; |

| ● | political changes may lead to changes in the business, legal and regulatory environments in which 
 we operate;                                                                                       |

| ● | economic downturns, political instability, civil disturbances, war, military conflict, religious 
 or ethnic strife, terrorism and general security concerns may negatively affect our operations;  |

| ● | enactment or any increase in the enforcement of regulations, including, but not limited to, those   
 related to personal data protection and localization and cybersecurity, may incur compliance costs; |

| ● | health epidemics, pand