Company: GCL
Filing Date: 2025-08-27
Form Type: DRS
Source: 0001213900-25-080905
Chunk: 258

Company: GCL Global Holdings Ltd
Filing Date: 2025-08-27
Form: DRS
Chunk 258
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 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.                       |

On December 29, 2024, the
Company, through another addendum, changed the consideration payment schedule.

| ● | Tranche                                                                          
 2 — A consideration of $2,993,450, comprised of 10% in cash and 90%              
 in shares, is to be issued upon the successful listing on the US capital market. |

<div align='center'>F-32

GCL GLOBAL HOLDINGS LTD AND ITS SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</div>

As of the date of issuance
of these consolidated financial statements, the Company has achieved or partially achieved the milestones associated with Tranches 1
through 5. The corresponding cash or share consideration for Tranches 1 through 4 has been fully settled, while the consideration for
Tranche 5 remains outstanding.

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 2Game was not significant based on assessments using the income test, asset test, and investment test pursuant to
S-X Rule 3-05. Pursuant to ASC 805-10-50-2 (h). the unaudited pro forma information of the Company for the year ended March 31,