Company: GCL
Filing Date: 2025-04-08
Form Type: 424B3
Source: 0001213900-25-029989
Chunk: 287

Company: GCL Global Holdings Ltd
Filing Date: 2025-04-08
Form: 424B3
Chunk 287
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 guarantees or material restrictive covenants.

<div align='center'>F-52

GCL GLOBAL LIMITED AND ITS SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</div>

The Company recognized lease expense on a straight-line
basis over the lease term for operating lease. Meanwhile, the Company recognized the finance leases ROU assets and interest on an amortized
cost basis. The amortization of finance ROU assets is recognized on an accretion basis as amortization expense, while the lease liability
is increased to reflect interest on the liability and decreased to reflect the lease payments made during the period.

The ROU assets and lease liabilities are determined
based on the present value of the future minimum rental payments of the lease using an weighted average effective interest rate of 4.9%
and 3.3% respectively for the years ended March 31, 2024 and 2023, which is determined using various incremental borrowing rate
with similar term in Singapore, Hong Kong, and Malaysia.

As of March 31, 2024 and 2023, the weighted-average
remaining operating lease term of its existing leases is approximately 1.6 and 1.9 years, respectively. As of March 31, 2024
and 2023, the weighted-average remaining financing lease term of its existing leases is approximately 4.4 and 4.0 years, respectively.

Operating and finance lease expenses consist of the following:

|                               |     |                                     |     | For the years ended 
           March 31, |         |     |      |         |
|                               |     | Classification                      |     |                2024 |         |     | 2023 |         |
| Operating lease cost          |     |                                     |     |                     |         |     |      |         |
| Lease expenses                |     | General and administrative          |     |                     | 866,481 |     |      | 675,655 |
| Finance lease cost            |     |                                     |     |                     |         |     |      |         |
| Amortization of leased asset  |     | General and administrative          |     |                     |  43,900 |     |      |  26,556 |
| Interest on lease liabilities |     | Interest expenses on finance leases |     |                     |   4,234 |     |      |   3,389 |
| Total lease expenses          |     |                                     |     |