Company: GCL
Filing Date: 2025-07-31
Form Type: 424B3
Source: 0001213900-25-070094
Chunk: 97

Company: GCL Global Holdings Ltd
Filing Date: 2025-07-31
Form: 424B3
Chunk 97
---
 | Starry Jewelry Pte. Ltd.       |
| Epicsoft Asia |     | Epicsoft Asia Pte. Ltd. |     | Titan Digital Media |     | Titan Digital Media Pte. Ltd.  |

D. Property, Plants and Equipment

GCL Group’s corporate
headquarters are located at 29 Tai Seng Avenue #02-01, Singapore 534119. The term of the lease is through March 31, 2028. Together
with five other properties (including our Group Chairman’s residence which also serves as his office), our leases total over 3,455
square meters in Singapore. As of July 30, 2025, GCL Group also has leased office facilities in Hong Kong, China, Dubai, Japan, Brazil
and Malaysia, totaling over 1,372 square meters. We believe our facilities are adequate and suitable for our current needs and that should
it be needed, suitable additional or alternative space will be available to accommodate our operations.

<div align='center'>58</div>

ITEM 4A. UNRESOLVED STAFF COMMENTS

None.

ITEM 5. OPERATING AND FINANCIAL REVIEW AND PROSPECTS

Unless the context otherwise requires, for purposes of this section, the terms “Company,” “we,” “us,” “our,” refer to GCL Global Holdings Ltd. collectively with its subsidiaries, while the term “GCL Global” refers to GCL Global Limited. Collectively with its subsidiaries prior to closing of the business combination (the “Business Combination”) with RF Acquisition Corp. (“RFAC”) on February 13, 2025. The following discussion and analysis of our financial condition and results of operations should be read in conjunction with our consolidated financial statements that appear in this annual report. In addition to historical consolidated financial information, the following discussion contains forward-looking statements that reflect our plans, estimates, and beliefs. Our actual results could differ materially from those discussed in the forward-looking statements. Factors that could cause or contribute to these differences include those discussed below and elsewhere in this annual report, particularly in “Risk Factors.” All amounts in included in the fiscal years ended March 31, 2025, 2024, and 2023(“Annual Financial Statements”) are derived from our audited consolidated financial statements included elsewhere in this annual report. These Annual Financial Statements have been prepared in accordance with U.S. Generally Accepted Accounting Principles, or U.S. GAAP.

5A. Operating Results

Overview

G