Company: GCL
Filing Date: 2025-08-27
Form Type: DRS
Source: 0001213900-25-080905
Chunk: 62

Company: GCL Global Holdings Ltd
Filing Date: 2025-08-27
Form: DRS
Chunk 62
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 any taxable
year (or portion thereof) that is included in the holding period of a U.S. Holder (as defined in “Material U.S. Federal Income Tax Considerations”) of our securities, the U.S. Holder may be subject to increased U.S. federal income tax liability and may
be subject to additional reporting requirements. The determination of whether we are a PFIC is a fact-intensive determination made on
an annual basis applying principles and methodologies that in some circumstances are unclear and subject to varying interpretation. Our
actual PFIC status for any taxable year will not be determinable until after the end of such taxable year. Accordingly, there can be
no assurance with respect to our status as a PFIC for our current taxable year or any subsequent taxable year. We urge U.S. Holders to
consult their own tax advisors regarding the possible application of the PFIC rules in light of their individual circumstances.

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Changes to, or changes in interpretations of, tax laws could have a material adverse effect on our business, financial condition and results of operations.

We are subject to income
taxes and non-income taxes in the United States and other countries in which we transact or conduct business, and such laws and rates
vary by jurisdiction. Tax laws and regulations, including at non-U.S. and U.S. federal and local jurisdictions, frequently change, especially
in relation to the interpretation of existing tax laws for new and emerging industries, and we cannot always reasonably predict the impact
from, or the ultimate cost of compliance with, current or future tax laws.

Any changes in the taxation
of our business activities may increase our worldwide effective tax rate and harm our business, financial condition and results of operations.
Our tax expense could also be impacted by the applicability of withholding taxes and the impact of changes in the evaluation of tax positions
we have taken in prior tax periods. The amount of taxes we pay in these jurisdictions could increase substantially as a result of changes
in the applicable tax principles, including increased tax rates, new tax laws or revised interpretations of existing tax laws and precedents,
which could harm our liquidity and results of operations.

All statements contained
herein concerning U.S. federal income or other tax consequences are based on existing law and interpretations thereof. The tax regimes
to which we are subject or under which we operate, including income and non-income taxes, are unsettled and may be subject to significant
change. While some of these changes could be beneficial, others could